NFTs, an opportunity for clothing brands.

NFTs offer several brand benefits, including the ability to track provenance and authenticate products. Also, the potential to create new revenue streams.

In addition, NFTs can be used to create loyalty and rewards programs for customers who purchase clothing from a particular brand. All this can help to increase brand fidelity and encourage clients to keep coming back for more, adding new revenue possibilities.

Some ideas of benefits:

• Redeeming of physical items, such as clothing or merchandise.

• Special offers.

• Early access to limited editions.

• Invitations to exclusive events.

• Voting power for customisable clothing and/or new releases.

• Proof of purchase / Proof of authenticity.

• Royalty fees as global incentives for sales partners (influencers, resellers, distributors).

With these benefits in mind, clothing brands can use NFTs in several ways to create opportunities for their business.

For example, NFTs can be used to create digital versions of clothing that can be purchased and downloaded online. This can be an excellent way for brands to reach native digital audiences. Additionally, NFTs can be used to create unique and collectable clothing items, helping brands differentiate their products and create more value for their customers.

Some weeks ago, Le Coq Sportif, a french clothing sports brand, used the WakeUp Labs infrastructure platform to develop its first NFT collection, “Coronados de Gloria”.

You can check it out here.