Digital fashion specialist The Fabricant, known for the creation and sale of the first fashion NFT in 2019, is shifting its business model to concentrate on serving brands rather than solely focusing on consumer co-creation.
The transformation has been prompted by the drop in the value of cryptocurrency Ethereum and waning consumer enthusiasm for NFTs. The company’s new goal is to provide brands with a platform for digital fashion production and distribution.
Previously, the company shifted towards being a consumer co-creation platform for fashion NFTs. However, they realised that brands, particularly premium and culture-defining ones, required more support in this domain, with a specific focus on engaging Gen Z consumers. The shift also takes into account that digital fashion is no longer confined to the crypto market. Instead, brand strategies are evolving to include long-term partnerships with entities like Epic Games, LVMH and Yuga Labs.
While The Fabricant will continue to create in-house fashion under its label, it will now also extend its platform to brands for digital fashion production and distribution. Dropped in August 2023, a new collection named ‘Primal Rave’ combines traditional Dutch attire with rave-inspired silhouettes.
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