In this session recorded at PI Apparel Hong Kong, Nathan Minsberg, Metaverse Lead at Brand New Vision, discusses building the digital fashion economy where all participants can be creative and earn. Brands can be the driving force of engagement by working with (companies like) BNV to create and sell digital wearables with interoperability and co-creativity.
Specifically, Nathan covers:
Brand New Vision’s Focus on Digital Fashion: The company, founded in 2019, initially aimed to make traditional fashion more efficient through digital flows. However, they quickly pivoted to focus on digital fashion, encompassing AR filters, holograms, and skins for video game characters, recognizing the diverse potential of the digital fashion market.
Ecosystem and Interactivity in Digital Fashion: Brand New Vision has created an ecosystem where digital fashion items, or “digital assets,” serve multiple purposes. These include being wearable in various metaverse games, acting as a membership pass for exclusive experiences with fashion brands, and providing financial benefits through their token, FASH.
Collaborations and Democratization of Fashion: The company has collaborated with top designers and brands (like Michael Kors, Diane Von Frostenberg, Tommy Hilfiger) to create unique NFTs. They emphasize democratizing fashion, allowing access to exclusive experiences not only through high-priced items but also through more affordable digital pieces.
Co-Creation and Consumer Empowerment: A significant theme in the presentation was the shift towards co-creation, where consumers become active participants in the fashion process. This includes modifying digital wearables and contributing to the design process, thereby blurring the lines between consumer and creator.
Integration of AI and Technology: Brand New Vision is leveraging AI and other technologies to facilitate the creation of digital fashion. They envision a future where consumers can use AI tools to personalize fashion items in the digital space, increasing engagement and personalization.
Tokenization and its Benefits: The tokenization of digital assets is seen as a way to create a comprehensive ecosystem that not only offers experiences and services but also helps brands understand consumer behavior better through data analysis.
Future Vision and Expansion of Digital Fashion: The company is focused on expanding the boundaries of digital fashion, integrating it with various aspects of daily life and culture. They foresee digital fashion not replacing physical fashion but rather adding a new dimension to it, enhancing personal expression and global connectivity.
A full transcript of this session can be found here.
