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Designer clothes that exist only online being sold for thousands in mind-boggling trend

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People are splashing out thousands on virtual designer gear

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Dolce and Gabbana and Nike, as well as Adidas, are among the brands creating clothes for the virtual world. Each piece is sold in a Non-Fungible Token but critics point out that the prices are ‘outof proportion’

People are spending thousands on virtual designer gear

Fashion fans are forking out thousands on pounds… for clothes that only exist online.

You can use the digital togs to dress up cartoon characters in virtual worlds.

A £9,000 golf outfit is just one of the items available online, and a matching Tam O’Shanter hat will set you back another £2,300.

For £9,000, you can also get a tracksuit covered in the Decentraland Games logo, which can be worn in Decentraland – one of the most developed virtual worlds on the internet.

Dolce & Gabbana (Nike), Adidas and Dolce & Gabbana are all producing clobber to be used in the virtual world.

Each piece of clothing is sold as an NFT – or non-fungible token – which can be bought and sold in real-life like a painting or any other valuable item.

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This DG tracksuit will set you back £9,000

A source in the industry said: “Fashion in the real world might seem mad at times with some of the outfits that go for silly money, but this is a whole new realm.

“We are talking about people paying thousands for something that only exists as pixels on a screen. It is unbelievable.”

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D&G currently has nine digital auctions. designer pieces for an eye-watering total of £4.2million.

The lots included The Glass Suit – a green and silver outfit which sold for £740,000, alongside a real-life version of the suit.

In March, the virtual first fashion week will be held – in the real world. Virtual sportswear is expected to become a huge business.

The Golfcraft cap is on sale for £2,300

Nike has bought tech company RTFKT, recently valued at £25million, to help them create and sell virtual trainers.

Adidas has teamed with two companies in order to expand their Originals collection into cyberspace.

Tech consultant Grace Rachmany said: “Selling clothing in games is here to stay but I think the prices are out of proportion right now.

Each piece of clobber is sold as an NFT – a non-fungible token

“A lot of people have money in cryptocurrencies that they won’t take out because they’ll have to pay tax so to them, it’s like play money.”

After Mark Zuckerberg, the founder of Facebook, announced that NFTs would be the future of his company, the NFT interest exploded. “metaverse” – a virtual 3D world.

Users can shop, play games, interact with friends, and even hold business meetings using virtual reality goggles if they so desire.

Mark Zuckerberg, founder of Facebook, said that the future was a 3D Metaverse.
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Decentraland, with its own cryptocurrency, made headlines recently when a plot to take over the country was revealed. “real estate” sold for £1.7million.

But criminals in real life are also making a profit. Todd Kramer, of New York’s Ross + Kramer Gallery, spent £1.6million on NFT cartoon apes from Bored Ape Yacht Club, only for them to be stolen by a hacker.

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A-Z about digital NFTs

Non-fungible tokens, or NFTs, are one of the world’s biggest internet crazes.

Experts believe they are the future of art. fashion world, others believe investors will suffer a similar fate to those who splashed out during the dot-com boom 20 years ago – only to lose heavily.

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An NFT can be described as a unique unit of computer information stored in a piece of code called blockchain. It can be associated to a digital asset like a video, picture or quote, or even an entire outfit.

They are unique because they have a unique signature. This means that they can be sold as real-world artwork or collectibles.

Blockchains allow cryptocurrency like Bitcoin to exist because they record on a digital ledger proof of a token’s change of hands.

While for cryptocurrencies each token has the same value like a £1 coin, NFTs all have different values depending on how much people are willing to spend on them – like paintings or antiques.

The first known NFT was a digital graphics called Quantum created in 2014 by Kevin McCoy with his wife Jennifer. He sold the artwork to entrepreneur Anil Dash during a presentation for just £2.95 but it is now thought to be worth more than £5million.

This niche technology was only mainstreamed in 2021 after a string of high-profile sales.

Artist Mike Winkelmann, also known as Beeple sold Everydays: The First 5000 Days for $69.3 million in an unprecedented sale that rocked the art world.

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NFTs have been sold for large sums by major artists like Jeff Koons or David Hockney since then, including singer Grimes.

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