Polygon Metaverse Lead Bullish On NFT
Fashion Company Move into the metaverse
Although the concept of the metaverse just recently became popular, the idea has been around for decades. The first use of the word came in 1992, in the novel “Snow Crash,” by Neal Stephenson.
Stephensons depiction of the metaverse revolved around people gathering in a virtual world using avatars. That idea was further fleshed out by Ernest Cline in the book “Ready Player One.” However, neither author captured the essence of NFTs, blockchain-based assets that represent a deed of ownership over digital or physical assets
So the big question is, where do NFTs come into the metaverse? Well, according to Brian Trunzo, they fit everywhere.
“I think anything that can become an NFT will become an NFT,” Trunzo told Decrypt in an interview at ETHDenver. According to Trunzo, the path toward a world like the one in “Snow Crash” or “Ready Player One” means that “everything within those worlds will necessarily be NFTs.”
The words of Trunzo are expected owing to the fact that Polygon Studios have had their hands in developing NFTs, games, and metaverse projects on the Ethereum sidechain of the same name. It comes as no surprise that the studio stands to benefit more from the growth of non-fungible tokens in the metaverse.
But Trunzo is very much interested in the clothing sector of the metaverse. “The fashion world is a $2 trillion economy. And many thinkers, myself included, believe that digital fashion will dwarf that someday,” he said.
In the last couple of months, shoe and apparel firms have been preparing for a world in the metaverse. The likes of Nike and Dolce & Gabbana are already entering the space. Nike bought RTFKT Studios which is centered on sneaker-themed NFTs, while Dolce & Gabbana has been integrating NFT wearables into its fashion shows.
Said Trunzo: “It’s just a massive opportunity.”
Consumers, who may fear that the non-fungibility, or uniqueness, of NFTs will be cost prohibitive, do not have to be alienated, according to Trunzo, who was speaking about ordinary things in the metaverse: “It doesn’t have to be a scarce resource. There could be many of them—but it will be NFT-ized.”