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Unlocking utility is key for fashion brands launching NFTs in 2022 -Breaking

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The most talked about market in crypto this year is NFTs or nonfungible tokens. Cointelegraph Research has found that NFTs are a growing market. We aim for $17.7 Billion in record salesBy the end 2021

It may be true, given that a lot of major brands are now launching NFTs. Based on to recent research from Bain & Company and the online luxury fashion platform Farfetch (NYSE:), digital interactions with consumers are becoming increasingly important for brands. The report specifically states that “digital interaction with peers is on the rise when choosing to purchase a product.” As such, nonfungible tokens tied directly to brands and their consumers are now more important than ever before.

Coach NFT’s “Bella the Penguin”, collection. Source: VaynerNFT
Source: Pet Krewe
Andy Milonakis KWC NFT. Source: Mishka