Changing the NFT Game: Phygitals, Blending the Physical and Digital World Part 3
Updated: Jan 21
In part three on phygitals, it might be unsurprising to know that these digital assets come in various forms, including art, collectibles, designer clothing, and jewelry. Below are several of the most common examples that phygitals typically appear as:
Wristwatches and timepieces are some of the most popular assets in the real world, so some companies and creators would develop digital assets for the decentralized space. For example, the luxury watch brand Rolex is researching and working to link their phygitals to some of their most-beloved timepieces.
Bulgari and Frank Muller are other companies making progress with some cutting-edge phygitals and capitalizing on this growing trend. It'll be interesting to see how the companies continue to work within the blockchain space and how it might breathe new life into their brand images.
Another type of phygitals that shows tremendous promise is within the designer clothing sector, with companies looking to add NFTs to items like hoodies, t-shirts, and more. As of December 2021, Adidas Originals held a debut within the metaverse while releasing 30,000 NFTs, all of which sold out just minutes after its release. The lucky owners of these NFTs were eligible for four Adidas physical products, which, to claim, the customer would have to burn their NFT.
Nike-owned RTFKT is leading the way in the phygital trend, with the company releasing a pair of runners with a unique NFT linked to each pair of shoes. Nike, which acquired RTFKT just six weeks after the start-up's launch, is blazing a new trail within the decentralizing sector.
The English artist, Damien Hirst, held a grand reveal of his landscape with his 10,000 "dot" paintings dubbed" The Currency," which was initially from 2016. Hirst's paintings contain linked NFTs; the NFT holder must burn their digital asset to obtain the physical paintings. Once the release was complete, there were 5,149 paintings redemptions by patrons.
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