Fashion designers and investors were promoting Web3 at the recent Art Basel Miami event. NFTs and metaverse based events use the same blockchain technology, NFTs are used by fashion houses to promote their goods and services in a digital world as seamlessly as they promote it in a physical world and increase user engagement and experience. Popular brands linked digital commodities, avatars as well as virtual worlds with physical commodities.

Art Basel Miami became the meeting place for digital commodities and physical commodities as major brands promoted a much sought after mix of the two. Some of the brands that successfully created such a mixture of Web3 and the physical world included the following:

Timex partnered with arguably the most popular NFT–The Bored Ape Yacht Club community to make limited-edition physical clocks that can be customized.
Fashion house Prada gave its October NFT drop owners an opportunity to attend a DJ performance that was sponsored by them.
The World of Women event saw an unexpected performance by Sofi Tukker during the event. A digital fashion design award ceremony was part of the event.

Balmain collaborated with visual artist Alexandre Arrechea to produce the 1950s inspired Villa Balmain in a metaverse setting with digital animations and Swarovski crystals.
Web3 fashion firm 9dcc gave its community a new white T-shirt with NFC chips, to offer POAPs (Gmoney patented networked products) during the week.
The Gateway, a Web3 exhibition space, had RTFKT Nike co-branded Venue Drip Sneakers. RTFKT was acquired by footwear giant Nike, in December 2021.

Experts believe that there is a growing trend of collaboration between fashion, footwear and blockchain. Web3 facilitates a mixture of collaboration of digital technology with the physical world, to increase the immersive experience of consumers. Brands can reach a potentially larger market with webfans through seamlessly merging digital assets with physical events such as Art Basel in Miami an event which is more open to experimentation when compared with traditional fashion weeks and events.

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Web3 continues to attract investment from big companies in finance, entertainment, luxury goods, automotive and more