Australian Fashion Week to ‘Take Crypto to the Catwalk’

Cryptocurrency exchange BTC Markets has been announced as an official partner of 2022 Afterpay Australian Fashion Week (AFW), and will take to the runway across various venues in Sydney next week with a haute couture dress that doubles as an NFT.

Dress Buyable as an NFT or Actual Garment

The dress, designed by eponymous Australian label CCO (chief creative officer) and founder Daniel Avakian, will be displayed virtually in animated avatar form and buyable as an NFT. It will also be displayed physically during AFW, from May 9-13, and available for sale as a real garment.

BTC Markets CEO Caroline Bowler will speak at AFW on May 10 as part of a series of panel discussions involving “notable” industry leaders. In a statement on its website, AFW organisers announced how one of those sessions would focus on crypto’s role in fashion:

Fashion has entered the metaverse, with NFTs and augmented reality gaining popularity among consumers who want more ways to shop and engage with brands. The session will break down the fashion-tech trends.

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Australian Fashion Week website

Female Crypto Investors Outstrip Men: BTC Survey

Bowler says BTC Markets’ association with AFW will help the company connect with the crypto-savvy women of Australia, a smart move considering the number of females signing up for crypto trading accounts has risen by 128 percent compared to last year. (The corresponding figure for men is 83 percent, according to the company’s own research.)

Fashion houses including Louis Vuitton, Gucci and Victoria’s Secret are no strangers to NFTs and the metaverse. In March this year, Decentraland hosted the world’s first Metaverse Fashion Week, with the participation of Paco Rabanne, Dolce & Gabbana, Tommy Hilfiger and other elite brands.

And last year, Australian venture capital firm Morgans Financial staked US$9 million on a local NFT fashion app for virtual showrooms.