As the landscape of luxury fashion continues to shift, the emergence of crypto-native brands like 9dcc offers a compelling view into the future. Founded by crypto-influencer Gmoney in 2022, 9dcc stands as what it claims to be the first luxury brand built from the ground up on blockchain technology. With cryptocurrency prices on the rise again, and political shifts hinting at a more favorable environment for digital currencies, the brand is positioned to tap into a reinvigorated market.
When 9dcc launched in an already cooled crypto market, its ambition was audacious. This brand aimed to redefine customer interaction and product authenticity through blockchain. Products are equipped with digital twins, essentially a secure digital certificate that verifies authenticity and opens pathways for customer engagement that traditional luxury brands have not fully explored. Two years after its inception, 9dcc has transformed from offering a single T-shirt to a diverse range of products, including denim, outerwear, and accessories.
A cornerstone of 9dcc’s strategy is its focus on creativity and customer engagement. Gmoney explains, “The real fun stuff is going to be creativity around engagement and connecting better with your customer after that point of sale.” This approach has led to novel interactions between customers, such as tapping NFC chips embedded in garments to collect digital tokens, or “Nines,” that represent other owners. These innovations create unique social connections among consumers, positioning 9dcc as more than just a fashion label; it becomes a community.
The resurgence of crypto prices is closely linked to political developments, with promises from figures like Donald Trump to make the United States a hub for digital currency and blockchain. Recent trends indicate that there is renewed interest from financial entities and brands looking to leverage blockchain technology. Neil Mullins, CEO of Mojito, a consultancy focused on web3, affirms this, stating, “There’s a lot of interest once again in the space.” Observations like these highlight how a stable crypto environment could mean greater revenues directed towards luxury goods, particularly in a time when the luxury market is facing sluggish sales.
The regulatory landscape is also shifting, pushing luxury brands towards blockchain adoption. The European Union is set to mandate unique digital identities for many luxury products by the end of the decade, making digital product passports (DPPs) a necessity for brands investing in transparency. Gmoney shares that tens of millions of products are moving toward blockchain integration for traceability purposes, which positions brands like 9dcc advantageously in compliance with emerging regulations.
However, the approach toward web3 projects is changing. Unlike the frenetic rush of 2020-2021, brands are now taking a more cautious, utility-driven approach to technology applications. This shift aims to create a seamless customer experience, minimizing the visibility of complex technology infrastructures. True engagement is not merely driven by technological innovation; it also rests heavily on how brands foster connections with consumers. Research has shown that engaged customers spend significantly more—approximately 2.5 times—than those who aren’t.
Diving deeper into customer engagement, 9dcc has found success with innovative promotional events, known as “quests.” One such event took place in New York City, where participants were challenged to visit various locations, including popular retail outlets, to win prizes and engage with the brand physically. This model was successfully scaled in Singapore through geofencing technology, demonstrating the brand’s potential to blend physical and digital experiences.
Gmoney envisions a future where brand strategies can lure consumers into physical stores using digital incentives. For instance, in a specific promotional window at a Starbucks, consumers could earn instant gift cards by simply tapping their 9dcc product. This method not only facilitates sales but also enhances customer experiences by merging digital interactions with real-world outcomes.
Despite this innovation, there’s a critical question: can brands effectively engage consumers who have not previously shown interest? According to Gmoney, the success of such endeavors rests on creativity and the right incentives. In Singapore, an NFT prize worth approximately $10,000 acted as a powerful motivator. Each luxury brand will need to figure out what unique incentive structures resonate with their audience.
In conclusion, as the luxury industry braces for this potential crypto renaissance, brands like 9dcc are uniquely positioned to lead the charge, providing richer, more interactive experiences that leverage blockchain technology while staying relevant to modern consumers’ desires. With renewed optimism in the cryptocurrency space, it seems likely that the digital luxury market could experience an exciting comeback.
