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"After the real estate market explored NFTs, many luxury brands such as Coach, Gucci, Prada, Dior, Balenciaga, LV, and others are also aggressively entering the metaverse, aiming to unlock the wealth code through NFTs. This intensified effort is closely tied to the significant impact of the global pandemic on these brands. Data shows that the pandemic is expected to result in a brand value loss exceeding $20 billion for the top 50 luxury companies globally, prompting some brands to seek survival by closing offline stores. Seeing the opportunity in NFTs, major brands are competing for their positions in this new world in various ways. They understand that participating in NFTs not only helps mitigate the impact of the global pandemic on their brands but also allows them to tap into the Generation Z user base and gain objective profits in this lucrative industry.
Before this, major luxury brands had made attempts at digitization, such as LV's collaboration with League of Legends to create exclusive hero skins and MOSCHINO selling virtual items in the video game ""The Sims 4."" However, these efforts pale in comparison to the lucrative potential brought by the metaverse trend. Unlike previous initiatives aimed at bringing brands closer to younger audiences, the metaverse represents a new frontier. Wait a minute, I'm young too. Why am I not affected? After thinking for a while, I realized it's because I'm poor, so I remain unaffected. It's a bit bitter.
Regardless, I don't think I would spend thousands to buy NFT luxury items that I can't wear in reality. The first reason is that I'm poor, and the second reason is that I'm really poor. So, I tell myself to just take a look at NFT luxury items and not indulge in daydreams. I'll think about it after I work hard to earn money. That's how I am. How about you? Would you spend money on physical or virtual luxury items?
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Post time 9-12-2023 23:13:13
