The Non-Fungible Token Fade: Reflecting on the NFT Phenomenon
A few years ago, I found myself captivated by the burgeoning world of NFTs. As a designer, the concept of digital assets intertwining with tangible experiences sounded pretty cool. The idea that purchasing a digital token could grant access to exclusive fashion pieces or events felt like the future knocking on our doors.
One standout example was Dolce & Gabbana's "Collezione Genesi," a groundbreaking NFT collection that blended digital artistry with physical couture. Buyers didn't just acquire a digital image...they received bespoke garments and exclusive experiences, bridging the gap between the virtual and the real.
Similarly, the Bored Ape Yacht Club (BAYC) went litraly crazy. Owning one of these unique ape illustrations wasn't just about the art... it was a ticket into an exclusive community, offering perks ranging from virtual events to real-world gatherings.
This NFT world fusing art, identity, and community was unlike anything I'd seen before.
But as quickly as the hype surged, it seemed to die. The vibrant discussions, the skyrocketing sales, the media frenzy...all began to fade. The digital marketplaces that once buzzed with activity grew quieter, and many of the promised utilities remained unfulfilled.
So, what happened?
Perhaps the rapid ascent was unsustainable. The novelty of NFTs captured our imagination, but the infrastructure and long-term vision lagged. Many NFT creators prioritised quick gains over lasting value, leading to skepticism and fatigue among consumers and creators.
“As designers and innovators, it’s our responsibility to learn from these early experiments.”
Yet, I believe the core idea still a winner. The integration of digital assets with real-world experiences isn't inherently flawed. It's a concept that, if executed with authenticity and purpose, can redefine how we interact with fashion, art, and community.
As designers and innovators, it's our responsibility to learn from these early experiments. To move beyond the hype and focus on creating meaningful, sustainable experiences that resonate on both digital and physical planes.
The dream isn't dead; it's just in need of thoughtful reinvention.
So this got me thinking what could this look like for today? And I think brands especially in fashion, design, and lifestyle, can meaningfully merge digital and physical worlds.
Design for Identity, Not Just Ownership. A digital token isn’t just a receipt. It’s identity. Brands could design NFTs that evolve with the user... collectibles that reflect real-life interactions, tastes, or even milestones. Like a digital badge of belonging, but beautifully designed and personal.
Anchor Digital to Tangible Craft. The most successful fashion NFTs weren’t purely digital, they included access to physical couture, fittings, or experiences. The token wasn't the end product...it was the key to a deeper brand moment.
Move from Scarcity to Storytelling. Scarcity was the first pitch “only 100 made!” but the future is in narrative. NFTs can unlock brand worlds, layered storylines, behind-the-scenes content, or exclusive artist collaborations. Think less status symbol, more ongoing connection.
4. Focus on Utility with Emotion. NFT space got obsessed with “utility” (free tickets, VIP access), but too often it felt transactional. The brands that win next will build emotionally intelligent systems, where the digital layer enhances the feeling of being part of something.
Make It Invisible (Almost). When it works well, it shouldn’t feel like “NFT tech.” It should just feel like brand magic. The interface, the jargon, the blockchain talk—it can all be hidden. The experience should lead, not the tech.
So where to from here?
I don’t think NFTs are gone. I think the hype burned too hot, too fast. What’s left is a quieter, more thoughtful opportunity—a design challenge, really. How do we make digital assets that aren’t just collectibles, but bridges…between brands and people, between digital and real life, between identity and expression?
And for me that space feels way cooler.
