Are the Metaverse and NFT the future of luxury brands?

Since March 2021, the metaverse and NFT (non-fungible tokens) have become buzzwords on the Internet. Many companies start to explore business possibilities. For luxury brands, there is no exception. The 'second world' offers the opportunity to deepen the branding efforts as well as gain sales revenue. Presenting in the Metaverse is also deemed as a chance to approach Generation Z. Nevertheless, as the Metaverse and NFT are still under-regulated, cyber security and counterfeiting might damage brand equity.

#Metaverse #NFT #MetaBirkin

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00:00 Intro of the episode
00:33 The Metaverse and NFT in brands' eyes
03:20 The three reasons why the trend is rising
05:14 NFT explained
06:14 Where do people buy NFT artwork?
06:34 Who are the buyers?
07:09 Examples of collaboration models for creating and trading NFTs
08:46 Why do luxury brands enter the world of NFTs?
09:30 Play cautiously for preventing potential risks
10:23 Legal issue | case: Meta Birkins
13:03 Summary of the episode