With creative consultancy 5Crypto, the CFDA will work with The Sandbox and Polygon Studios to establish a Web3 blueprint for American fashion.
The Sandbox was cofounded by Sebastien Borget and Arthur Madrid and has previously collaborated with Snoop Dogg, Gucci and Adidas. The initiative also leverages the expertise of Polygon Studios, the NFT and gaming arm of Ethereum layer-2-scaling protocol Polygon. Polygon Studios already works with the majority of today’s top Web3 games and NFT projects and has helped luxury brands enter Web3, such as Bulgari, Prada, Adidas, and Dolce & Gabbana.
According to The Sandbox’s Madrid, “We believe the metaverse is the new frontier of expression, where avatars will be an extension of our digital identity. We are excited to offer new creative tools for fashion designers to create NFT collections with digital ownership and scarcity that will be playable in the metaverse.”
For a company which hasn’t dipped its toes into the metaverse yet, Kolb offered this advice. “The purpose of the partnership is to give them a blueprint and a 101 plan on actually how to do that. Two things members need to know: How do you actually enter into the metaverse and what actually happens once you’re in it?” He said through 5Crypto, Sandbox and Polygon Studios, they will take members step by step, and tell them what the metaverse actually is and what should they do.
According to Kolb, they’re going to have panels, one-on-one conversations and editorial content through their channels. “The goal is for CFDA itself to enter the metaverse and have opportunity not just to promote and support the work of the CFDA, but to bring opportunities to our members.” He said someone once said to him, “The metaverse is a playground for the imagination.”
Hamid explained that a brand shouldn’t want to do the exact same thing they’re doing in the physical world in the metaverse. “I think really creating an experience, such as a gaming experience, allows you to play and earn and unlock tokens to redeem actual products. We’re still developing these technologies and it’s new but that’s a great utility so a consumer can use their avatar or NFT to play a game and unlock an experience,” he said.
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