ASRV's Luxury Jacket NFTs Sold Out in Minutes.
The company is betting on the metaverse as the future of retail.
Hi NFT Community
I hope you’re doing well.
Being that my team and I are closely connected to the fashion industry, I always have one eye on what fashion brands are doing in the NFT space because we see NFTs having a huge impact in the fashion business.
A project that caught my eye is from ASRV. ASRV stands for “All Season Recreation Versatility”, and they dub themselves a premium sportswear brand that creates training apparel designed for the active lifestyle.
ASRV released 60 NFTs of a luxury jacket as part of its winter clothing release. They gifted them to the first 60 customers who bought its special edition winter jacket, which sold for $348. The items sold out in 30 minutes, according to the company.
The NFTs are 3D renders of ASRV's physical jacket, each with different colors and properties. Some styles include dragon scales, lightning rods, and even one inspired by a NASA spacesuit.
The CEO of ASRV is Jay Barton, a Forbes 30 under 30 in 2020.
He believes NFTs can be a strong tool to help cultivate a more involved and connected customer base.
"NFTs allow your fans or customers to basically share the success of a company," "Their purchases of products and enthusiasm now have a legitimate financial upside that can be tracked on the blockchain, and they help crowdsource a brand's success."
The great part for the consumer here is that they not only love the products and wear them proudly, they now have a vested interest in the company and are motivated to help promote the brand. Much like if one were to own shares in a company.
The creative asset can rise and fall in value along with the popularity and momentum of the brand, by encouraging consumers to participate in the positive message of the brand, brands will have a wider team supporting their growth knowing they can financially benefit from their efforts.
ASRV is one of many fashion brands to enter or close to entering the Web3 space. We’ve seen Gucci, Dolce & Gabbana, and global sportswear giants Nike and Adidas dive into this space in recent times, and there are more waiting in the wongs to start their campaigns.
From a more technical perspective, according to ASRV, holders could be granted a future utility with things like "discounts, gift cards, excursions, and retail store benefits", taking NFT usage into an easy to digest scenario for mainstream customers who are currently not seeing beyond the JPEG hype.
You will see a lot more of this from brands large and small, Clinique (a subsidiary of the Estée Lauder Companies.) was one of the early movers of the big brands who decided to trade in their web2 loyalty program for web3 in 2021. It’s just the beginning and a reason why I often roll my eyes when I see people say things like ‘I’ll never own an NFT’, sorry, but soon you won’t have a choice!
If you’d like to learn more about ASRV, here are some links.
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Thanks for reading, David Skilling.
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Disclaimer: None of the content provided by The NFTV should be considered advice. The thoughts and ideas presented are personal opinions and for entertainment purposes only. You (and only you) are responsible for the financial decisions that you make, you should always do your own research as investing comes with risk. The ideas presented here are my opinions at the date of writing and may change in the future. I’m also not a professional journalist or writer, so go easy on me :)