The BoF Team is taking a well-deserved break. In the meantime, our reporters and editors have selected the best articles we published in 2022 across our core topic areas of expertise. Today, we focus on Technology. Look out for our agenda-setting analysis to return on January 3. Happy holidays!
Dear BoF Community,
In tech, 2022 was the year the NFT bubble burst. Prices plummeted as investors anxious about the shaky economic climate ditched their riskiest assets, with crypto at the top of the list. Still, brands including Prada and Nike maintained their web3 dreams, touting a long-term opportunity in NFTs for community building and linking physical goods to digital identities.
While the industry waits to see how these efforts will fare, it's managing other problems. With competition for digital ad space growing and online privacy measures disrupting how platforms serve ads, brands have been facing a scenario where their ads are more expensive to run and the returns harder to measure. They're also adjusting to the rise of TikTok, which is challenging Instagram as fashion's favourite social platform.
Meanwhile, behind the scenes more have leaned into technology like AI for tasks like setting prices and virtual sampling to speed the design process. Now all eyes are turning to the new crop of generative AI tools that threaten to shake up how fashion creates new products.
— Marc Bain, Technology Correspondent
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