The CFDA is making its move into Web 3.0, alongside partnerships with creative consultancy-communications agency 5Crypto, The Sandbox, and Polygon Studios. The company’s mission is “to educate, innovate, and create community in a digital world.”

The council has entered Web 3.0 to try and connect fashion and crypto in order to further engage with the community. The CFDA will however first educate its audience.

”The beginning of this partnership is going to be really based in education: knowledge panels, fireside chats, 101 conversations — really helping our members see the opportunity for them specifically in the metaverse and web3,”
Steven Kolb was chief executive at the CFDA.

Polygon Studios, one of the most prominent creators of NFT games and NFT projects is Polygon Studios. The company has also brought many fashion brands into the Web 3.0 space, including Prada (OTC:), Adidas (OTC:), D&G, and Bulgari. Sandbox on the other hand is a distributed metaverse which allows creators to create their own digital worlds.

“We believe the metaverse is the new frontier of expression, where avatars will be an extension of our digital identity. We are excited to offer new creative tools for fashion designers to create NFT collections with digital ownership and scarcity that will be playable in the metaverse!”
Co-founder of The Sandbox Arthur Madrid.

Why you should care

A new generation of customers is coming to the metaverse, which offers many opportunities. KPMG estimates that the demand for digital goods could reach $50 billion by 2030, according to KPMG.

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