The recent Seamm Insights report, authored by the research team at Seamm and overseen by CMO Anastasia Drinevskaya, unveils a comprehensive analysis of the digital fashion industry subsequent to a global crash in the crypto market in 2022.

KEY INSIGHTS FROM THE REPORT

• How Crypto's Crash Shook Web3's Ecosystem.
• The Metaverse Meltdown.
• How Digital Fashion is Bypassing the Crypto Crash.
• What Customers Seek in Digital Fashion.
• How Fashion Brands are Approaching Web3 after the Crypto Crash.

Looking back to 2022, it becomes evident that cryptocurrencies, including non-fungible tokens (NFTs), did not prove to be effective inflation hedges. Various factors, such as the potential loss of capital, government regulations, fraud, hacking incidents, and the overall state of the global economy, significantly impacted the cryptocurrency market and its investment landscape. However, amidst the hype and speculation that characterized the year, we have witnessed a settling of the market. While secondary volume, indicated by prices, has experienced a decline, the sales activity, particularly in the NFT sector, has remained stable.

The Shifting Investment Landscape: The Metaverse Declining Appeal

The industry has observed a notable shift in venture capital funding from metaverses to generative artificial intelligence (AI), signaling a change in investor preferences.

Digital Fashion: Resilience and Market Adoption

Despite the significant downturn in the crypto market, digital fashion has showcased remarkable resilience when compared to other sectors within the NFT market. The fashion industry, in particular, emerged as a leader in the adoption of NFTs throughout 2022. One intriguing aspect of this trend is that buyers of digital fashion may not necessarily be active crypto users. This phenomenon signals promising market opportunities and forecasts for next years, with digital fashion, avatars, and gaming standing out as potential growth areas.

How Fashion Brands are Approaching Web3 after the Crypto Crash

New marketing challenges have emerged for fashion brands in the aftermath of the crash. It has become increasingly evident that nurturing Web3 communities will be a critical endeavor for brands seeking to navigate this evolving landscape in the long run.

Download the complete report to gain insights into the present state of digital fashion, the key trends that will shape the industry, and the potential avenues for fashion brands' growth in the upcoming year.

Report "Digital Fashion: One Year After Crypto’s Crash"

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