2022 might still be young, but NFT's may have already secured their place as the year's biggest trend. It seems like every industry is looking for ways to incorporate blockchain technology and NFT into their operations. The world of fashion isn't going to be exempt from these changes by any means. But what will those changes be? Are NFTs going to affect your EDM outfits? We're always moving with the trend-share at Freedom Rave Wear. And we're happy to give you an overview of what might be coming next when NFTs and Fashion meets.
Wait, What are NFTs?
Just because everyone is talking about NFTs doesn't mean everyone knows exactly what they are. We'd love to do a deep dive on the topic, but to keep it fun and casual we’ll give you the “need to know” facts.
Firstly, you need a general understanding of what the blockchain is (something else you should probably look up for more detail). Essentially the blockchain is an online "leger" for storing data. What makes the blockchain special is that it is decentralized and is incredibly challenging to hack.
Okay, so what has this got to do with NFT? An NFT is a Non-Fungible Token. (Non-Fungible means that it can't be divided.) An NFT is essentially data stored on the blockchain. It could be a picture, audio or digital.
What makes an NFT different from other examples of digital art is that whoever buys it gets a receipt for its specific and unbreakable position on the blockchain. This means that absolutely no one else can claim ownership over what is an entirely unique piece of digital art. Previously, digital files were easily shared and duplicated.
While someone could technically take a picture of your NFT, you still have ownership. The best way to imagine it is like a famous artwork. Even if images of a particular piece of art are floating around online, it's still the property of the collector who bought it and has it in their home, and they get all the bragging rights associated.
So how does this connect with EDM outfits? Or other forms of fashion?
While blockchain and NFTs were growing in popularity, many people were getting into the world of digital fashion. This means non-tangible pieces of fashion that exist entirely within the digital world. Think of the outfits you can buy for a video game character or your avatar in online virtual realms and spaces. These digital outfits can be bought and sold for real money.
It's not just the tech companies getting into these digital fashion products either. Major brand labels such as Gucci and Louis Vuitton have dabbled in creating fashion for video games or other digital spaces.
Of course, NFTs will shake up this digital fashion industry in a big way. No longer are you simply just buying the option to put a particular style of clothing on your digital avatar. Instead, you're purchasing the rights to use a totally one-of-a-kind piece of digital fashion that no one else can claim. So if you have an NFT EDM outfit for your avatar in a video game, no one else would have that exact same version as the one you’ve created.
What's very interesting is the discussion around making these digital fashion NFT's transferable. This means that your digital EDM outfit we described could be used across multiple video games or other virtual worlds.
For those interested in virtual raves or remote raving, these digital NFT fashion applications could be an entertaining way to shake up your digital presence.
So there's clearly a lot of exciting stuff going on with NFTs in the digital world. But could they have any applications in the real world?
One exciting development is the idea of merging NFT with the existing practice of scannable clothing. You might have seen scannable hoodies out in the wild before. These are articles of clothing covered in QR codes, which can give your access to a piece of music, artwork, or video online if scanned with a phone. These QR codes could also be a way to share the NFT's you own. So you could have your EDM outfit also be your way to show off your NFTs. If you own any NFT artwork, they'd also make great accessories on your EDM outfit.
Of course, that's not the only way NFTs can affect real-world rave fashion. The technology is ripe for experimentation and the NFT landscape is ever evolving. A staple of many raves is Kandi accessories. There's a good chance we could see NFT versions of Kandi swapped and traded at raves just like the real versions.
This isn't to say that NFT's have an assured place as a part of EDM outfits. The technology is still very new, and there are some controversies about it. One of the most commonly cited is blockchain technologies' effect on the environment.
Without getting too much into blockchain technology, the short version is that it takes a lot of electricity and energy to generate things on the blockchain. When you want to make something new using the blockchain, you have to put in a lot of power under the current "proof of work model". As a company dedicated to caring for the planet, this is naturally worrying to us.
However, there are ways to try and steer the blockchain towards more environmentally sustainable models, such as the proof of stake model. It's still a little early to be able to tell just exactly what the production for NFT's will look like in the future.
And, NFT's are still in something of a "wild west" phase. They can be risky if you view them as an investment. Of course, this risk is what is driving such an intense news cycle around them. We'll all just have to see what developments NFTs have and what they might mean for EDM outfits. Regardless, NFTs are a great example of how the digital and real-world are merging when it comes to fashion.
As far as your real-world rave fashion needs go, Freedom Rave Wear will always have you covered. We have a ton of great EDM outfits in our shop, including one of the best collections of plus-size rave clothing you can find anywhere online