Will NFT Jewelers Beat Rolex to the Metaverse Market?

Back in April 2021, I worked with WorldStarHipHop to launch their first NFT. We knew that designing a status symbol was the surest way to having a successful NFT drop and what better status symbol is there than jewelry? As a result, we designed the WorldStar Hip-Hop Chain NFT which ended up being sold for 121 ETH.

Nine months later, I’m compelled by the question: Will crypto-native brands beat luxury brands to the metaverse market?

It’s evident that the NFT market is determining its own status symbols in certain profile-picture NFTs and digital art. But Louis Vuitton is still Louis Vuitton. Balenciaga is still Balenciaga. And a Richard Mille is still a Richard Mille.

These status symbols have meant something to us for decades. And they surely have the position of power when it comes to dominating the market for luxury digital assets.

Yet, that’s not stopping crypto-native creators from trying to become the Metaverse Jewelers of the Future.

For example, Generative Watches is creating a line of NFT watches inspired by iconic timepieces. Meta Watches is right on its tail, designing NFT watches for the digital age. Then there are Chains NFT whose bling has brought in more than 500 ETH.

In my latest video, I discuss whether or not luxury brands will see the same success in the digital market with high competition from crypto-native brands.

Frankly, there’s a strong possibility that some luxury brands will be beaten at their own game in the digital market. The window of opportunity is still wide open. But metaverse accessories are being created and sold as NFTs in droves. Every day that Rolex isn’t creating their own Meta Watches is a day that their competition can appreciate in value.

Every brand that operates in the luxury/status symbol market – from jewelry to cars to handbags to shoes – is at risk of losing its position in the emerging metaverse market.

And so I ask your perspective on this question: Will the incumbent luxury powerhouses capture this market in the metaverse or will it be the new crypto-native brands?

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