Virtual Fashion and NFT Wearables — Interview with Kosta Williams
Months after the NFT market has been firmly in the grip of PFP NFTs and virtual property projects, it is slowly becoming apparent that a strong interest in virtual fashion is emerging.
Big fashion and sportswear companies such as Adidas, Under Armour, Prada and most recently Gucci have already launched their own NFTs.
For this, we asked Kosta Williams — one of the most successful German fashion influencers, who recognized early on how important social media will become for the fashion world, for his opinion on the future of fashion in times of NFTs.
Let’s go!
reNFT: What are your favorite fashion brands?
Kosta Williams: Foràge, Ami Paris, Louis Vuitton
reNFT: You were one of the first people who recognized the need for fashion content on Instagram — do you see any similarities between your beginnings on Instagram and the current evolution of virtual fashion?
Kosta: Absolutely! The era of virtual fashion has only just begun.
In the beginning, there are always only a few who recognize the trend until others follow their example. I think virtual fashion will play a big role in our lives in the coming years.reNFT: What was your first thought when you heard about
“digital/virtual fashion”?Kosta: I thought the idea was strange at first, but I was already familiar with fancy game items like weapons or armor from computer games, so I could kind of relate to the concept.
reNFT: Can you imagine one day there will be a big interest in virtual appearance just like in the real world?
Kosta: Definitely, I think during the whole Covid-19 period people’s interest in meeting „virtual“ got bigger and bigger. Platforms like the super popular Roblox that allow gamers to meet and interact virtually, or artists like Steve Aoki and Travis Scott doing concerts completely virtually show that leisure activities are becoming increasingly virtual and this kind of virtual social interaction is more than just using Instagram or TikTok.
reNFT: How important do you think it will be for fashion brands to offer fashion NFTs in the future?
Kosta: When social media became more and more popular years ago, many of the fashion brands did not see the need of taking part in „this world“, but after seeing the relevance of social media in the fashion world, they knew they had to catch up. In my eyes, the whole thing will repeat itself with virtual fashion.
The global luxury goods market is worth more than 300 billion in 2021. The interest in luxury products has never been higher than today.
There will be incredible interest in opportunities to virtually present themselves in the near future.Just look at Dolce and Gabbana, they just dropped their first NFT project, generating over $ 5M in sales.
This is just the beginning and I think that more brands will recognize the trend.
reNFT: Brands are able to grant their NFT-holders access to certain parties — imagine a Louis Vuitton exclusive party — do you think this could change the fashion industry forever?
Kosta: Absolutely, the fact that by buying a luxury product you also get access to exclusive parties combines lifestyle and luxury in a way never seen before.
Especially with regard to plagiarism and so on–with today’s technology, sneakers, bags, etc. can sometimes be shockingly well copied.NFT exclusive events or gifts for NFT-holders can give the plagiarism-plagued industry another boost so buyers are willing to pay the extra price for the luxury products.
reNFT: As you know we are all about NFT rentals, do you think there will be a time when people will rent NFT fashion for specific occasions similar to what “Rent the Runway” does?
Kosta: Absolutely, as already mentioned, users will also be super interested in presenting themselves in the best possible way virtually.
Regarding “Rent the Runway” — what works in the real world will work even more so virtually, I think.
You don’t have to re-pack the outfit back in a package and send it back, or in the worst case, you have spilled some red wine over it and then have to pay for the cleaning or even the full outfit price. Also for hygienic reasons, renting and lending virtual items seems more feasible to me.
As you can see — virtual fashion is just getting started!
With our rental solution, we make it possible for users to rent and lend virtual fashion such as NFT wearables so they can earn money or rent valuable NFT outfits for a low price with our collateral-free rental solution.
If you are interested in learning more about this topic or how we can plug and play integrate reNFT into your project to enable fully trustless and collateral-free rentals — feel free to reach out!
We are looking forward to the future!
About reNFT
reNFT is a multi-chain NFT rental protocol and platform that can be whitelabel integrated into any project to enable collateral-free in-house renting, lending and scholarship automation!
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