Fashion brands are dipping their toes in a virtual pool of digital wearables, 'phygital' runways and online collectables. But what about the environmental impact?
Non-fungible tokens are quickly gaining momentum in the fashion industry. In 2021, Gucci helped kickstart the trend among high-end fashion houses when it created its first NFT in partnership with Christie’s, while more recently Paco Rabanne has been selling a range of digital assets to fund improvements to its physical archive.
Yet as brands and designers rush to explore the possibilities that come with developments such as adoption of the blockchain and the expansion of the metaverse, how much thought is being given to such moves' environmental impact?