Types of Non-Fungible Token Fashion Utilization and Internal Value

Abstract

The purpose of this study is to analyze the types of utilization and internal value of non-fungible token(NFT) fashion. The research method was a literature review that involved referring to professional books, papers, articles, and websites on NFT and virtual fashion, and 112 NFT fashion works were collected and analyzed based on the findings of a related keyword search. NFT was found to be applied to various fields, such as art, collections, social networks, games, and real estate by applying uniqueness and scarcity to digital assets using blockchain technology. The types of use of NFT fashion were found to be as follows. First, collectable NFT fashion, with its unique design and scarcity is receiving investment. In addition, limited-edition sneakers, bags, and high fashion costumes have artistic value and provide brand value and special experiences. Second, game-type NFT fashion mainly appears as avatars, accessories, and weapon items created in collaboration with luxury fashion brands and Metaverse game platforms. NFT fashion, which applies the patterns and symbols of luxury fashion brands, is becoming a means of showing off one’s wealth and status in the digital world. Third, advertising and event-type NFT fashion which appears as an agreement between companies, a red-carpet AR dress, the first NFT fashion magazine and film, and limited-edition figures, has great influence and popularity. Three types of internal value of NFT fashion were found: (1) play value through games and fantasies, (2) sustainability value through virtual experiences, and (3) economic value through scarcity.

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