Denim fashion apparel Wrangler is bringing its brand to the metaverse, starting with IRL experiences and digital wearables on Decentraland. Aside from being the maiden offering, the upcoming two-part drop is special because it kicks off the brand’s 75th-anniversary celebration. Together with Grammy award winner Leon Bridges, Wrangler is ready to make the metaverse its catwalk!
Wrangler Metaverse: IRL Experiences and Digital Wearables
The first drop will consist of 75 NFTs showcasing Leon Bridges’ signature dance move. NFT holders will have access to an online community, an animated NFT and Wrangler branded digital wearable item for use in the Decentraland metaverse. The IRL experience paired with the NFT is a pass to a VIP Bridges concert during New York Fashion Week in September of this year.
Then, the second drop will happen in September. The 1/1 of NFT is a digital replica of Wrangler’s custom denim jacket and jeans originally for Leon Bridges. The winning bidder can use it on Decentraland. In addition to the digital outfit, the auction winner will get a physical replica of the outfit and access to Bridges’ exclusive content.
Tom Waldron, global brand president at Wrangler, explained why they decided to launch a metaverse presence. He said, “Wrangler is a brand that has always been inspired by and thrived in the Wild West. The metaverse is simply the next destination for us.”
You can check out the listing at LTD.INC NFT platform. The minimum bid is 0.3 ETH or $816.
Branded Metaverse Experiences
Meanwhile, other fashion brands also recognize the power, potential and possibilities of dropping digital wearables. Iconic American fashion lifestyle brand Ralph Lauren opened a 24/7 digital store on Roblox. Last fall, Dolce & Gabbana broke the fashion NFT sales record by selling out its latest collection for 1,885.719 ETH or almost $6 Million. Digital fashion sneaker brand RTFKT is now under the Nike umbrella.
Consumers are willing to spend on digital wearables because it satisfies the aspirational come-on without breaking the bank. For example, in September 2021, Balenciaga launched Fortnite “skins” priced at 1,000 V-Bucks (the currency used on Fortnite), equivalent to about $8. Meanwhile, Ralph Lauren is selling its winter apparel on Roblox for only $3 to $5.
According to Morgan Stanley, the metaverse could help luxury brands expand their total addressable market by over 10% by 2030. That percentage means $50 billion in additional revenues so the clamor to build a digital presence is understandable.