In 2022, NFTs were down but not out, TikTok was up and AI took an even bigger role in fashion businesses. Explore BoF’s coverage of these and other year-defining trends like the effort to give every clothing item a digital identity and the shopping habits of the crypto wealthy.
Despite TikTok’s booming popularity and lower cost compared to Instagram, brands and experts say the return on ad spend doesn’t yet match more-established platforms, though that doesn’t mean brands can ignore it either.
Brands like Tiffany, Prada and Nike-owned RTFKT are among those using the digital tokens to offer exclusive access to tangible goods.
Case Studies & Reports
Syky, created by a fashion veteran who held top roles at Ralph Lauren and Burberry, closed a funding round led by Seven Seven Six, the venture fund of Reddit cofounder Alexis Ohanian.
WeChat’s fledgling short-video feed tripled the number of its viewers in 2022, as the Tencent Holdings Ltd.-owned messaging app seeks to stem an outflow of traffic to rival TikTok and its Chinese cousin Douyin.
A judge has denied both parties’ motions for summary judgment.