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NFTs, Digital Art, and Blockchain Technology for the Fashion Industry

 

Marc Beckman wrote about it in his book "The Comprehensive Guide to NFTs, Digital Artwork, and Cryptocurrency," which was published in 2012. It is discussed in detail in the book how the Stern School of Business Luxury and Fashion Council came to be established at New York University. Fashion, art, athletics, and social justice are all potential beneficiaries of this development. It is impossible to tamper with data contained in NFTs in any way, including duplicating or forging it. The author's agency has been providing blockchain technology, digital art, and non-financial tokens (NFTs) consultancy services to the fashion and lifestyle industries for the past two years. The concept for the book, which was conceived in March of 2020, will have the greatest impact on those working in the fashion industry. The blockchain, according to Beckman, "is advancing the technology that is used to authenticate who generated something."

Fashion, art, athletics, and social justice are all potential beneficiaries of this development. Fashion brands have the option of either creating their own metaverse or entering a third-party digital world such as Roblox or Minecraft to promote themselves. Those who belong to NFTs have access to exclusive benefits such as limited-edition merchandise and tickets to live events. As a result of your purchase and ownership of digital assets, they become a part of your digital identity.

Moreover, according to Beckman, the ability of an NFT to protect consumer privacy should be taken into consideration. Because companies stand to make a lot of money, protecting consumers' privacy is extremely important. As for the concept that technology dictates what a person wants rather than the other way around, Beckman laughed it off. Beckman proposes that organizations develop strategies that generate new revenue streams while also providing a new communication platform for their customers. A fashion firm will spend in the "low six digits" to implement a comprehensive NFT program, according to Mr. Healy. According to Beckman, the objectives of every marketing strategy should be to increase brand awareness and client loyalty.

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