Thursday, September 23

NFT, gamification, and the luxury fashion industry

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NFT, gamification, and the luxury fashion industry. Louis Vuitton, Dolce & Gabbana, Burberry, Gucci, or Uniqlo…All “signed in”.

Louis The game - a combination of blockchain NFT and gamification

Louis The game – a combination of blockchain NFT and gamification

Blockchain technology is taking quite a lot of attention from the luxury fashion industry. The covid-19 pandemic also spurred the development of virtual projects, where blockchain shows significant potential for security and transparency.

Besides blockchain traceability solutions, blockchain NFT and gamification are becoming a new trend for many luxury fashion brands. They are harnessing NFT and gamification to create richer experiences for their marketing campaigns.

Bringing creativity into digital life 

Luxury fashion brands have been eyeing the gamification market in recent years. However, they only stop at co-designing characters’ costumes in the game (like Louis Vuitton and Uniqlo did for the game League of Legends).

The recent emergence and boom of NFT have created a breakthrough in the approach of brands to this hundreds of billions of dollars market.

Indeed, in early August of this year, Louis Vuitton launched a game app called “Louis: The Game” to celebrate the 200th birthday of its founder Louis Vuitton. The game will simulate the journey to Paris of its mascot – Vivienne. (The plot is based on the life of Louis Vuitton). There are 30 free NFTs as rewards for players to collect throughout the adventure.

Just a few days later, Burberry also released Burberry NFTs in the Blankos Block Party game space, which allows building, designing, buying/selling, and collecting NFT characters.

A month earlier, Dolce & Gabbana launched a high-end collection aimed at its traditional audience – its fans who are so active that they want to own a digital representation of its designs.

Through gamification, brands engage users by creating distinctive emotions from creative experiences, artistry, and uniqueness of luxury fashion products in the digital environment.

Different approaches of NFT and gamification in the luxury fashion industry

Brands have demonstrated that NFT and gamification approaches and applications can be diverse and customizable to serve different strategic goals.

For example, Louis Vuitton has come up with its own app with a fascinating storyline, a protagonist, and it rewards what customers want to embark on a journey with a sense of pride. The NFT in the game is mainly for collecting purposes rather than for sale.

To Dolce & Gabbana, the first NFT project’s target audience is existing loyal customers. 

In Burberry’s case, they entered the market by designing, pricing, and selling Burberry NFTs on an existing trading platform.

Will digital fashion go further with NFT and gamification?

Gamification gives players the more feeling of being “immersed” in the world of luxury fashion. It also allows brands to communicate and maintain their message and image more easily. Meanwhile, NFT creates unique digital products that make them as valuable as limited edition luxury fashion products.

The constant release of NFT and gamification-related products by fashion brands reflects a changing fashion industry that is oriented towards games and apps to interact directly with consumers.

High-fashion brands know that it’s their must-do to create a bond with their customers in order to earn loyalty. Nurturing and growing relationships through gamification and NFT is a potential solution to emotional uplift.

Everyone is trying to figure out what new trends like NFT and gamification mean for their business. How about you? Contact us to learn more about what blockchain and NFT mean for your business.

About akaChain

akaChain is backed by FPT Software, a globally leading technology, and IT services provider. It is an end-to-end, permissioned, multi-chain network based on the Hyperledger Fabric. Since its establishment in September 2018, akaChain’s product has assisted many enterprises, from SMEs to Fortune 500 firms, to transform with distributed ledger technology. The company provides a broad range of permissioned blockchain-based products and services in multiple sectors, including retail, supply chain, banking and finance, insurance, shopping mall management, etc. to transform with its distributed ledger technology. For more information, please visit https://blog.akachain.io/

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