Posted on September 7, 2022, at 8:30 amUpdated September 7, 2022 at 9:09 am
The metaverse is not yet an Eldorado for luxury, but pillars of the sector continue to invest heavily there. Due to the decline of cryptocurrencies, many observers expected a slowdown in the launch of various spaces (metaverse, sandbox) presented as the most promising. But the brands that introduced NFTs (Non-Fungible Tokens) in 2021 did not change their strategy and continued their investments.
Despite the volatility of these alternative currencies, they again offered new NFT collections this summer. “A year ago, luxury was clinging to the metaverse, now it stands out with sharper and more lucrative offerings,” notes an expert. According to a Dune Analytics study conducted by Noah Levine, Tiffany Jewelers, owned by LVMH (owner of “Les Ecos”), made a significant jump this year among the top-grossing brands in this area. American Jewelers’ revenue would have reached $12.6 million, just a head ahead of Gucci ($11.6 million). Jewelery or fashion houses do not guarantee quantities from Dun Analytics. On the other hand, they do not hide their satisfaction.