If your brand has any amount of collector enthusiasm behind it, you should develop a metaverse strategy. In addition to the previously mentioned strategies fashion companies have taken on metaverse platforms, the blockchain allows brands to create a similar feeling of scarcity and ownership of digital assets, much like their real-life counterparts.
Take the recent success of Nike’s Cryptokicks, which have sold over $11 million in digital sneakers since their April 2022 launch. The athletic shoe manufacturer, which has already created a flourishing physical collectible market among dedicated sneakerheads, purchased virtual designer RTFKT in December 2021 to bolster its metaverse marketing strategy. RTFKT has since released a collection of limited NFTs called Nike Dunk Genesis Cryptokicks, which tap into the same sense of collectibility and FOMO that accompanies physical sneaker collecting. Unlike physical shoes, Cryptokicks can be augmented and customized with digital items in ways that would be impractical or outright impossible in the physical world.
Though fashion brands are uniquely positioned to capitalize on the benefits of the metaverse, many other brands are taking advantage of this digital collectible market. NBA Top Shots has created a series of NFTs that elevate the concept of trading cards into digital, tradeable plays (called “Moments”) from throughout the history of the NBA. Since its launch, Top Shots has amassed over a million users, and Dapper Labs is building similar platforms for the UFC and NFL.
Whether you’re offering digital fashion, trading cards, collectible characters, comics, records, or anything else — tap into the collectible mindset with your metaverse offering and combine it with a sense of immersion only found in the digital space. You’ll discover an audience willing to invest.