Profile image NFTs are hot - Fashion is starting to dress them

NFT profile images, often known as PFPs, have become prized possessions among Web 3.0 enthusiasts. Fashion has spotted an opportunity as PFPs become more flamboyant.

Photo of yourself NFTs are frequently used as the owner's profile picture on platforms like Opensea, Discord, and Twitter, and some PFPs, like the one owned by Adidas partner Gmoney, have become so well-known that they have earned influencer status. 

He even made an appearance at the Prada presentation, wearing a beanie and wearing the Cryptopunk PFP image over his face in press photos.

PFPs value rarity, and secondary buyers (those who missed the original mint) are willing to pay thousands, if not millions, for more popular collections: Alexandre Arnault, wearing a red-orange hat and 3D glasses, purchased a Cryptopunk for $416,400 in February. In January, Justin Bieber's new weeping Ape, dressed in a basic dark grey t-shirt, was purchased for $1.3 million.

Fashion will follow where influence (and money) leads.

PFPs are being dressed by a new crop of digital firms and projects, which entails changing their original appearances with additional apparel and accessories.

These are highly stylised costumes in the look of popular PFP series, unlike digital clothing worn on self-designed avatars (as on Roblox) or submitted photographs (as on DressX).

PFPs are one of the most popular kind of NFTs; they're usually a collection of photographs centered around a similar subject or character, and they're made and designed by the issuing party rather than mandated by the owner, and they frequently include access to secret clubs or events. 

Some designs have varied scarcities or complexity, increasing their worth. Cryptopunks, Bored Ape Yacht Club (with which Adidas partnered on their metaverse launch), World of Women (which has been tapped by Reese Witherspoon's Hello Sunshine), and CloneX, produced by digital fashion business Rtfkt, are just a few of the popular series.

The original owners usually don't know which design they have until "mint day," which means that until they buy, sell, or trade a certain design, the owner has no control over how it looks. 

By developing technology that allows PFP holders to "dress" their characters, they may personalize them in ways that have never been conceivable before. 

A well-dressed PFP might rise in value and status, presenting a profitable, and mostly unexplored, opportunity for businesses to be seen among the Web 3.0 community.

Megan Kaspar, managing director of Magnetic Capital and member of digital fashion-focused Red DAO, which recently acquired a Dolce & Gabbana NFT crown, believes PFPs "have so far been the most popular trending use-case for NFTed art and digital imagery – beyond a speculative investment instrument.

" Kaspar and other members of Red DAO, a decentralised autonomous organisation founded to invest in digital fashion collectively, are excited to start dressing their avatars in digital wearables, according to Kaspar. They intend to buy more digital fashion from Dolce & Gabbana, which is working on a new NFT line with marketplace Unxd.

Some CloneX and Bored Ape collectors have already "unofficially," or off-chain, customized and clothed their PFP avatars with attire and accessories, according to Kaspar.
"This trend is expected to spark in 2022 as one application for digital NFT fashion," Kaspar predicts.

Champion Athleticwear introduced digital clothes and accessory items on Monday, which were randomly distributed to 888 holders of the Non-Fungible People NFT series. 

PFP recipients can "improve" their PFP by dressing it up in the new Champion accessories. While not directly based on a tangible product, the upgrade would result in a new NFT, this time sporting Champion. 

Meanwhile, Adidas has partnered with Ape Closet to allow every Bored Ape to dress in Adidas apparel; Nike has acquired the company behind the CloneX PFPs (which could open the door to dressing the NFT in Nike, though Nike declined to comment); and Puma recently announced a partnership with popular NFT creator CatBlox, as well as the acquisition of other feline-focused PFPs.

Luxury clothes isn't quite there yet, but some businesses are. In January, luxury watch maker Louis Moinet sold digital luxury timepiece NFTs to Non-Fungible People (NFP) PFP owners, allowing them to dress their PFP in the Louis Moinet style. 

Gucci, another early adopter of the metaverse, revealed an impending partnership with 10ktf, a gamified initiative that mixes storytelling, NFT items, PFPs, and a virtual floating environment, on Thursday. Accessories are already available for 11 PFP collections, including Bored Ape Kennel and Yacht Clubs, Cool Cats, Forgotten Runes Wizard's Cult, and World of Women, thanks to 10ktf. (Gucci was unavailable for comment.)

"It's a huge potential for brands," says Jessica Rizzuto, Tafi's SVP of commerce, who developed the Non-Fungible People line in collaboration with Tafi and Champion. "Collaborating with NFT influencers to outfit and accessorize your PFP has tremendous value."
Profile image NFTs are hot - Fashion is starting to dress them

Potential for brand participation

The ability to dress PFPs is expected to lead to more enhancements for engaging with fashion; for example, the Louis Moinet watch accessories gave the PFPs visible wrists. PFPs will develop from two-dimensional to three-dimensional characters that can operate in metaverse realms, according to Nifty Tailor's founders. Since joining the Nike family, Rtkft has produced a series of closet-like "Pods" to display one's digital purchases.

 Rtkft's CloneX PFP series currently lacks feet, and Nike declined to comment on whether or not they could be added or dressed.

According to Cryptopenks, a co-founder of digital fashion manufacturer Nifty Tailor, which clothes PFPs, this might become a "valued asset" for those who use PFPs as their public avatars. 

"It becomes extremely intriguing property if Eminem has an Ape and wears a Balenciaga cap, and if a designer produces a piece that is so iconic that a lot of people use it, it has the potential to go viral."

Profile image NFTs are hot - Fashion is starting to dress them

Beyond Apes

According to Nifty Tailor's two founders, who are employed by other companies and hence use Web 3.0 aliases, there is interest among PFP owners. 

When users on Discord saw that he had digitally clothed his Ape in a suit, they began asking him cryptocurrency to do so for them, according to Nifty Tailor co-founder Kryptoragazzo.

Dressing capabilities and alternatives for NFTs are constantly being developed. 

People who choose to add the new components to their PFPs, according to Champion and Louis Moinet, burn their original NFT, which means they can't get back to the original form, albeit this technology is being developed. 

People who acquire an NFT version of a watch from Louis Moinet can later upgrade their PFP; if they sell their PFP, they keep the standalone digital watch NFT.

While Nifty Tailor began by overlaying digital information on NFTs, it has since expanded to allow any Ape owner to make derivative NFTs dressed in new garments, as well as other PFPs. Independent artists create the outfits, but partnering with fashion brands to dress PFPs could provide a future revenue stream that includes derivatives.

There's also the possibility of layering goods, exactly like in the real world. 

On Roblox, avatars can wear numerous pieces from different sources at once, but these digital clothing items are not NFTs.

"What's really cool about this is that changing a trait changes the rarity, so you might have an NFT that's been burned to have a combinable look, and now your single NFT has four separate pieces fused into one.

" It provides a new level of complexity and value," explains Rizzuto.

She expects PFPs to be fully dressed soon. "You can imagine a day when you have your Louis Vuitton profile pic, high-end sunglasses, and your superfly watch all in your profile pic," Rizzuto says. "Identifying the way you wish to be identified is the next wave of Web 3.0." It's hardly impossible that [avatars] will get sponsors."

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