Monday, December 27, 2021

The Best of BoF: Fashion Enters the Metaverse

BoF is away for its annual break until Jan. 4. In the meantime, we invite you to explore highlights of our news and analysis from the year.
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WHAT YOU NEED TO KNOW TODAY: TUESDAY, DECEMBER 28, 2021

Dear BoF Community,

At the outset of 2021, fashion insiders were still googling NFTs and the metaverse to decipher what they meant. Then, Balenciaga dressed characters in Fortnite, Dolce & Gabbana brought in $6.1 million in an NFT auction and Nike acquired RTFKT, a brand specialising in sneaker NFTs, to name just a few of the highlights. But technology this year wasn't just about new frontiers in virtual worlds. With so much time spent online, data and how to make use of it were top themes — which is why it was so disruptive to fashion marketers this year when Apple's new privacy changes limited the access to data they need to target shoppers. Brands also bulked up on their analytical abilities, with Levi's going as far as to train employees with an AI bootcamp. In 2022 one thing is certain: technology will be on the minds of executives as they seek to stay competitive and navigate the changes happening in the world at large.

Marc Bain, Technology Correspondent

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