- Brian Trunzo has high expectations for the digital fashion industry.
- Fashion brands have started to build around blockchain technology.
- Trunzo believes that NFTs will not be limited to only rare items.
The Metaverse lead at Polygon Studios has high hopes for the growth of digital fashion in the metaverse.
Digital Fashion Will Dwarf The Real World Industry
In an interview with Decrypt, Brian Trunzo, Polygon Studios’ Metaverse lead, revealed that he and some other analysts believe that the fashion industry in the metaverse will surpass that of the real world. The executive feels there is a lot of opportunity in the space.
“The fashion world is a $2 trillion economy. And many thinkers, myself included, believe that digital fashion will dwarf that someday… It’s just a massive opportunity.”
Several fashion brands have started looking into the space, which is believed to be the next theme for a bull run. In December, Nike purchased RTFKT Studios, an NFT creation platform focused on creating sneaker NFTs.
At the time, Nike President and CEO John Donahoe said, “Our plan is to invest in the RTFKT brand, serve and grow their innovative and creative community and extend Nike’s digital footprint and capabilities.” The purchase followed the company’s creation of NIKELAND, a virtual 3D world in partnership with Roblox.
In October last year, Dolce & Gabbana released their “Collezione Genesi,” a collection of nine NFTs, fetching the company a whopping $6 million. Dolce & Gabbana created physical pieces for the collection, while UNXD created virtual versions.
Trunzo’s Outlook On NFTs and Polygon Studio Partnerships
Trunzo thinks that “anything that can become an NFT will become an NFT.” He noted that users do not have to fear that the uniqueness of NFTs will make them inaccessible to certain classes. Trunzo said, “It doesn’t have to be a scarce resource. There could be many of them—but it will be NFT-ized.”
Polygon Studios runs all NFT gaming and metaverse projects on the Polygon network. Recently, Polygon revealed that they have a partnership with Poriverse. Poriverse is the first NFT game that allows users to lend and trade their NFTs. It is becoming apparent that virtual realities similar to the ones depicted in movies like “Ready Player One” are becoming reality. Trunzo says for this to happen, “everything within those worlds will necessarily be NFTs.”
Polygon’s native token MATIC is presently trading around the $1.4 price point on major exchanges. The asset is down 3.16% in the last 24 hours and its market cap stands at about $10.9 billion. NFT gaming and the idea of the metaverse have dominated the crypto space with the rise of games like Axie Infinity and traditional auction houses listing NFTs.