Selfridges Becomes Latest Fashion Company to Join The Metaverse Bandwagon By Selling NFTs in Actual Stores

"Go where the action is" is an aphorism that is especially pertinent in today's Metaverse. Selfridges, the renowned fashion retailer, has become the latest fashion brand to enter the Metaverse, announcing the launch of tangible NFTs.The renowned British department store company revealed that it is the world's first retailer to offer consumers fixed-price NFTs over the counter.

Selfridges and Fondation Vasarely have cooperated to develop an interdimensional shop with over 1,800 NFTs weighing between 2,000 and 100,000 pounds.

The business launched Unverse on Thursday with a "big multi-dimensional initiative" in collaboration with Fondation Vasarely and French fashion designer Paco Rabanne.
Each outfit is limited to twelve pieces and utilises digital technology to enable users to wear the garments and have them change colour in response to various phases in their clothing closets. Victor Vasarely, an Op Art designer, developed these classic items via some very great labour.

The Fashion Industry's Phenomenal Growth of NFTs

NFTs, which are 'one-of-a-kind' digital assets that can be purchased and sold online, have swept the globe – especially the fashion industry – in recent months.Fashion giants such as Boohoo, Adidas, Karl Lagerfeld, and Harvey Nichols have all released NFT collections in the last few weeks.

The NFT realm, and the broader metaverse, provide the fashion industry with novel and intriguing opportunities.

And, although the future worth of these assets is unknown, it's obvious why businesses are rushing to join the market so early, with many believing the metaverse will be the successor to the present internet age.

Nike even went so far as to acquire RTFKT, a virtual sneaker and fashion start-up that creates wearable NFTs for the digital world, in December 2021.