People who buy an Aeropostale NFT might win a brand new Tesla – Sourcing Journal

Aeropostale is the latest fashion retailer to take root in the metaverse.

The specialty chain is working with metaverse development company MetaversePlus to bring its brand into the Web3 world. MetaversePlus will design, develop and expand the brand’s digital presence through NFTs, create member benefits and promotions, and lead broader metaverse efforts.

“This is much more than just an NFT,” an Aeropostale representative told Sourcing Journal. “This is a community of new friends, and we’re manically bullish on the metaverse providing an opportunity for people to express themselves freely like never before.”

The four-phase roadmap includes immersive shopping, socializing and gaming experiences. The first phase, set to launch on March 23, will focus on AeroPax: a collection of 30,000 unique NFTs intended to build community and provide participants with exclusive benefits, including limited-edition clothing and promotions.

“Aeropax is a wild bunch of adventurous, laid-back and curious rebels ready to take over the metaverse,” says Aeropostale’s promotional page. The algorithmically generated virtual characters were created from over 400 hand-drawn traits in 12 categories. Each AeroPax has a unique combination of features; 30 “legendary” traits appear only once throughout the collection and may have “extra special” benefits.

To celebrate the launch, the Authentic-owned brand is giving 10 consumers 18 and older a chance to win a Tesla to “show our new community of AeroPax that we’re more than just future pledges,” the Aeropostale representative said. Anyone who purchases one of the first 29,700 AeroPax digital collectibles, valued at $69 each, will be automatically entered into the contest, although no purchase is required to enter.

“We’re excited to build an immersive and interactive experience for Aeropostale fans and anyone who wants individuality,” said Noah Loul, co-founder of MetaversePlus. “AeroPax is unique in that we create an experience free from real-world constraints and societal standards, where people can be their most authentic selves and join like-minded people anywhere, using NFTs and virtual experiences.”

The first collection of AeroPax avatars will feature a mix of traits, styles, personalities and abilities – including benefits such as the ability to be featured on one of the brand’s digital channels. The AeroPax will become the user’s property, act as their interactive avatar and act as their digital access passport to virtual worlds, including the upcoming metaverse: AeroWorld.

Phase two of the rollout gives consumers a sneak peek at AeroWorld, allowing users to claim unique avatar characters, access virtual and IRL experiences, including events and games, and collect in-game points, which can be redeemed for exclusive AeroPax merchandise. Aeropostale has not yet revealed details of phases three and four.

“We are thrilled to partner with MetaversePlus to build a unique Aeropostale metaverse for the brand’s fans and global community,” said Naushaba Moeen, EVP of Lifestyle at Authentic. “Through this partnership, we aim to make Aeropostale a leading brand in the Web3 space and help shape the future of community and customer engagement in the virtual world.”

Another popular youth retailer, PacSun, also explores the metaverse. Although the company has only been in the space for a year, last month it launched a new virtual experience in Roblox: PacSun Los Angeles Tycoon. Created by metaverse developer The Gang, the tycoon experience pays homage to PacSun’s Southern California roots by offering the community the opportunity to build their own map of SoCal with future expansions to come. H&M is also on Roblox, debuting its Loooptopia Experience in January, providing an immersive gaming experience that lets players experiment with materials and patterns to create virtual garments for their avatars. Ralph Lauren joined the virtual world back in 2021 via a partnership with Zepeto. In this freemium social app, users build digital clones for chat room conversations dressed in the legacy brand’s digital duds.

These are just a few of the fashion players taking advantage of the growing space. But in a catch-22, the key factor driving the growth of the metaverse in the fashion market is the increasing number of brands entering the metaverse platform, global technology research and advisory firm Technavio found. Still, the metaverse in fashion market share is expected to increase to $6.61 billion by 2026, with 38 percent of the growth coming from North America.

While the metaverse leaves its fingerprints on the future of fashion, it’s unclear whether brands will find success—and more importantly, revenue—in Web3. Considering that Roblox had 58.8 million daily users as of the fourth quarter of 2022, Statista reported, and that no labor or raw materials are needed to create virtual clothes, digital fashion seems to have its advantages. But brands have yet to reveal how profitable their efforts have been.