Digital Fashion

China Internet Giants Turns to Digital Fashion as NFT Mania Cools Off

As the NFT frenzy cools down, web enterprises are deploying their digital manner firms

ByteDance’s shorter video sharing platform Douyin has entered the electronic fashion marketplace and planned to launch a manner community termed “Pheagee” late final thirty day period.

This is an additional go for the online big to dig into electronic trend right after the hype of the non-fungible token (NFT). Previous 12 months, the Bejing-dependent business acquired the metaverse engineering merchant PICO, which offers digital manner technologies.

Electronic vogue and the NFT are each area of interest sectors in the metaverse market place, but they are different in mother nature. Every NFT is one of a kind, and as soon as obtained, the customer is the only person who owns it. But electronic trend solutions are like outfits in the authentic world and can be circulated as any items.

In addition to ByteDance, other internet enterprises this kind of as Tencent and Xiaohongshu are also intensively deploying digital fashion corporations.

Due to the fact last 12 months, Tencent has started to up grade its QQ Present from two-dimensional to a few-dimensional room, where by customers can dress up digital characters by obtaining digital clothing.

Xiaohongshu also launched a electronic selection platform known as “STEP INTO R-SPACE” previously this calendar year. It also launched the “Design Verse” challenge featuring 9 domestic designers and put up 3,000 digital vogue things solely for sale on the platform previous month.

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