The intersection of fashion and NFT
Joy of ownership is the main motivation for purchasing alternative assets, not potential ROI.
NFTs are more than just digital assets - they are a unique form of art. A successful NFT collection is one that is not only visually appealing, but also possesses artistic value that resonates with its audience. While art may be subjective, the value of an NFT collection can increase as interest and demand for it grows. The famous saying, "if the price goes up, then the art looks much better," illustrates this point well.
What's even more fascinating is when a collection has traits that can be repurposed for fashion or other use-cases. This requires a keen eye to identify, but when successful, it unlocks another dimension of the value of NFT art and adds value to the collection as a whole. As brand awareness and recognition grow around the art, the artistic value of each NFT piece will reflect that growth.
NFTs also provide an opportunity to build a strong and passionate brand community. Those who love the art and the associated traits and elements can proudly represent the brand and become advocates for it. The joy of ownership drives individuals to promote the brand and invite others to join the community, which is more powerful than any other economic factor. However, this does not suggest that economic factors are unimportant. Ultimately, logical incentives are still necessary to sustain any endeavor long-term.