How Fashion NFTs Can Improve Sustainability in the Industry
The fashion world is now using NFTs to promote sustainability in the industry. The most visible example is fashion label Polite Worldwide. It’s diving into the fashion NFT space with Lonely Whale, and Coral Gardeners, both nonprofits promoting marine wildlife preservation.
However, is this a one off, or will fashion NFTs for sustainability catch on?
NFTs are Catching on In the Fashion World
Big fashion brands are already using NFTs in one way or another. In May 2019, LVMH (Moet Hennesy Louis Vitton) became the first company to use Blockchain-based tokens to verify authentic items. Clothia, an online retailer is auctioning off NFT dresses. And OpenSea, Nifty Gateway, and KnownOrigin have already sold fashion NFTs on their marketplace.
This can upend the current practices in fashion which produce so much waste. Material dyeing, manufacturing, and dumping all cause damage to the planet. Simply buying virtual fashion can actually help reduce the carbon footprint by a lot. Since the Blockchain is streamlined and since you can get your product as soon as payment is made, this is more efficient
Also, digital fashion returns the power to the creator. This means that the creator will also get their money’s worth. There isn’t a single policy which will have a greater impact on sustainability than going digital with fashion.
The era of fashion NFTs can improve sustainability by reducing waste and combating fast fashion. It’s a trend which is trashing the plant just as fast. With NFTs, fashion can be faster and hurt the environment less.
While it’s a long way away from being fully realized, fashion NFTs can actually improve sustainability. Within the fashion world, this is the best solution at this time.