Republiqe Is The Cyber Fashion Brand Making Clothes Digital
A Singaporean investor recently made waves in the art world by spending a record US $ 69 million (S $ 93 million) in cryptocurrency on a digital work of art.
The coin was sold as a non-fungible token (NFT), which is a unique crypto token existing on the Ethereum blockchain. However, since each NFT is unique, they cannot be traded or traded for equivalency. Therefore, digital tokens can be thought of as certificates of ownership for virtual or physical assets.
Each NFT has a unique identification code and metadata that distinguishes them from each other, which is different from other forms of currencies. For example, a Bitcoin always has the same value as another Bitcoin. Likewise, a single unit of Ether is always equal to another unit.
However, since each NFT is unique, they cannot be traded or traded for equivalency. Therefore, digital tokens can be thought of as certificates of ownership for virtual or physical assets.
Anyone can “symbolize” their work to sell it as an NFT, and interest in doing so has been fueled by recent million dollar sales that hit the headlines. For example, an animated GIF of Nyan Cat – a 2011 meme of a pop-pie flying cat – sold for over US $ 500,000.
Music can also be sold in the form of NFT. American rock band Kings of Leon have achieved more than $ 2.6 million in album sales so far, and The Weeknd’s new song will also be released on NFT.
It’s not just art that can be sold. Twitter co-founder Jack Dorsey has put his very first tweet up for sale, with offers reaching US $ 2.5 million (S $ 3.9 million).
More recently, digital clothing has been making waves in the NFT space, as something that consumers can buy as well.
A new frontier in the fashion industry
According to digital fashion start-up Republiqe, its digital clothing allows consumers to “look amazing without leaving the comfort of their own homes”, imagining themselves to be their own “real-life avatar.”
Customers buy digital clothes the same way they would buy clothes online, but with an extra step. After selecting the item of clothing they wish to purchase, they will need to upload an image of themselves.
The work will then be transferred to Republiqe’s digital sewing team to tailor the client’s new digital garment, which is fully sustainable and ethically produced in their image. The image will then be sent back to the customer, ready to be shared on social media, within a maximum of 72 hours.
At Republiqe, all clothing is one size fits all because the team strongly believes in inclusiveness.
In terms of cost, Republiqe’s prices are similar to those of major fashion brands. A long printed blazer will bring back a buyer for £ 40 (S $ 73.67), while an oversized t-shirt is priced at £ 20 (S $ 36.84).
Building the “ Tesla ” of fashion
Republiqe founder James Gaubert has over 20 years of experience in the luxury fashion industry and has worked with brands like Chanel, LVMH and Burberry.
He therefore decided to capitalize on his knowledge in the field of luxury fashion to launch Republiqe on three fundamental pillars: creativity, technology and sustainability.
“We wanted to challenge and disrupt the fashion industry, doing almost what Elon Musk and Tesla did to the auto industry. I saw first-hand the damage done to our planet by the fashion industry, as well as unethical production, and I think it made me want to make a difference, ”said James at Vulcan Post.
As a fully digital brand, Republiqe does not have long lead times, allowing the brand to be more nimble and create clothes on the fly in response to social events and ‘moments that matter’.
It also doesn’t work within the usual limits of the seasons around which traditional brands operate.
“Our role is to constantly listen to and understand our consumers, to create clothes around events that are close to their hearts. For example, we have an Earth Day micro capsule, a Pride collection, and more, ”said James.
Also, another factor that sets Republiqe apart is that they are not limited by the types of fabrics and materials they can use and the team’s creativity can flow freely. For example, one can have a garment entirely encrusted with diamonds, without having to pay a large sum.
Is this the future of fashion?
According to James, the response to his digital clothes has been positive so far and the team has sold over 500 clothes in the first six months. He acknowledged that while the number may not seem significant to some, he sees it as a huge success because digital fashion is a completely new space.
He believes that the fashion of the future is digital. While there will always be a need for physical clothing, looking good on social media is extremely important for Gen Z consumers who want to build a personality online and get away from it all in virtual reality.
So, Republiqe and other digital fashion brands are providing Gen Z consumers with outfits they typically won’t wear in real life, which James says will become more important in the future.
“I expect to see a significant shift in spending over the next few years from physical to digital, the possibilities are endless,” he said.
There is still a long way to go when it comes to educating manufacturers and consumers, but big brands like Moschino are already dipping their toes into the digital space.
This gives James the assurance that he is “about to do something very big”.
Blockchain technology is a key content pillar for Vulcan Post. You can explore other articles related to blockchain and cryptocurrency here.
Featured Image Credit: Republiqe
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