Crypto fashion: why people pay real money for virtual clothes | Reuters
Category: News & Politics
Via: hal-a-lujah • 3 years ago • 7 commentsBy: Elizabeth Howcroft (Reuters)
People care what their avatars are wearing.
S E E D E D C O N T E N T
When the virtual world Decentraland said in June users could make and sell their own clothing for avatars to wear on the site, Hiroto Kai stayed up all night designing Japanese-inspired garments.
Selling kimonos for around $140 each, he said he made $15,000-$20,000 in just three weeks.
While the idea of spending real money on clothing that does not physically exist is baffling to many, virtual possessions generate real sales in the "metaverse" - online environments where people can congregate, walk around, meet friends and play games.
Digital artist and Japan-enthusiast Kai's real name is Noah. He's a 23-year-old living in New Hampshire.
After making as much in those three weeks as he'd earn in a year at his music store job, he quit to become a full-time designer.
"It just took off," Kai said.
"It was a new way to express yourself and it's walking art, that's what's so cool about it... When you have a piece of clothing, you can go to a party in it, you can dance in it, you can show off and it's a status symbol."
In Decentraland, clothing for avatars – known as "wearables" – can be bought and sold on the blockchain in the form of a crypto asset called a non-fungible token (NFT).
Kai's kimonos include exquisite crushed blue velvet …
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Some people get a real feeling of satisfaction in donating to charities and knowing that they are helping a stranger who is in need, using money that they themselves can live without. Others get satisfaction is using that kind of money to make themselves look fancy in a virtual world that is completely useless to anyone, or to buy fake clothing that only exists in an altered photo of themselves. I think that humanity is about ready and deserving of extinction.
"I didn't do the redemption stuff because I couldn’t be bothered," said Jim McNelis, a Dallas-based NFT buyer who founded NFT company, nft42.
"I try to avoid the physical stuff as much as possible.”
I wouldn’t be caught dead with those shoes on my feet, in reality or otherwise.
They look spring loaded. Haha
Unbelievable people make money off of this.
Hey, here is some fake clothes for your fake character in a video game. Only 10.95 USD...
Shit like this really tends to make you question your life choices.
“The company has posted $7 million of sales, with limited edition sneakers selling in auctions for $10,000-$60,000, he said. While the majority of customers are in their 20s and 30s, some are as young as 15.”
Somebody paid $60,000 for virtual sneakers. I balk at paying more than $60 for actual sneakers. I wonder how that decision went down. “Hmmm … virtual sneakers or real Tesla … I’m torn.”
Yeah, I don't get it. I'd love to see a demographics breakdown on who is making the purchases. Clearly, some upper class folks are buying, but...
...sounds to me that it is likely a bunch of young dumbasses, who are probably, in large part, in the group of people screaming how evil capitalism is, and who like telling other people how their money would be better spent (or not made to begin with). I've been thinking on this for a while. Downloaded a mobile game to kill time with. Joined an alliance to get an in game reward. Started seeing how many alliance members routinely spent $10 or more to purchase in game currency (you get an award if a member buys, so you see the purchase). Also read, in the alliance chat, how many of those same alliance members had an anti-capitalism/anti-rich lean. Head scratcher.
No kidding. I can't do it for myself. I have to for my kids. Even buying from the bargain rack is expensive. They can't understand why we don't have a fancy side by side to roll around in. Your taste in shoes buddy...your taste in shoes.