Council of Fashion Designers of America (CFDA) has announced its entry into Web3 and first-ever metaverse and NFT partnership and educational programme alongside a coalition of digital creatives and thought leaders. With creative consultancy 5Crypto, the council will work with The Sandbox and Polygon Studios to establish a Web3 blueprint for American fashion in the metaverse with a mission to educate, innovate, and create community in a digital world.
“This landmark partnership is an opportunity for our organisation to leverage the next generation of digital innovation bridging fashion and crypto by providing CFDA members with knowledge and linking them to resources to seamlessly usher in the future of our industry and next wave of commerce,” CFDA said in a media release.
American design talent will be piloted into virtual spaces to introduce Web3 to a larger consumer segment and provide brands with insights that will allow them to authentically engage and empower their communities, while establishing new revenue streams. The CFDA will also be offering members professional development and educational resources, allowing them to gain insights and cultivate opportunities for their businesses.
“Our mission is to position our members as leaders in the global innovation of fashion and retail via digitally led strategies to support growth and expansion. With the support of The Sandbox and Polygon Studios, the CFDA is poised to educate and empower business leaders for generations to come,” said Steven Kolb, CEO of the CFDA.
The Sandbox, a leading metaverse co-founded by Sebastien Borget and Arthur Madrid, empowers creators to build their own virtual and gamified worlds. The Sandbox’s decentralised platform provides endless possibilities for creation and collaboration; previous collaborators include Snoop Dogg, Gucci, and Adidas.
The initiative also leverages the expertise of Polygon Studios, the NFT and gaming arm of Ethereum layer-2 scaling protocol Polygon. Polygon Studios already works with the majority of today’s top Web3 games and NFT projects and has helped multiple luxury brands enter Web3, including Dolce&Gabbana, Bulgari, Prada, and Adidas.
This partnership creates a holistic pathway to utility and interoperability that has yet to be explored by the fashion industry. The CFDA endeavours to bring together these visionaries and connect them with members and designers, endowing them with the knowledge they need to successfully enter the metaverse.
Additional CFDA programming and special projects led by 5Crypto will be announced throughout the course of 2022.
Fibre2Fashion News Desk (KD)