Today, the Council of Fashion Designers of America (CFDA) has announced its entry into web3 and first-ever metaverse and NFT partnership and educational program, assembling a coalition of digital creatives in leaders. In partnership with creative consultancy 5Crypto, the CFDA will work alongside the virtual world.

Web3, according to Kevin Roose of The New York Times, is the name of a new iteration of the internet experience that is built upon incorporating the systems of decentralized blockchains, which powers cryptocurrencies. The Sandbox and web3 media hub Polygon Studios established a web3 blueprint for American fashion in the metaverse with a mission to educate, innovate, and create a community in a digital world. A decentralized platform has previously collaborated with Snoop Dogg, Gucci, and Adidas, offering creators the to create 3D immersive worlds while being able to monetize these creations. Polygon Studios already has experience with luxury and e-commerce, doing NFT projects for brands like Bulgari, Prada, and Adidas when they entered Web3.

For the CFDA, the partnership is an opportunity to develop digital innovation for the next generation. The association plans to provide its members with knowledge and link them to the resources and tools to seamlessly usher in the industry’s future, bridging the gap between fashion and crypto and introducing the next wave of commerce. “This is a remarkable opportunity for the CFDA to guide the American fashion industry into the future of commerce and creativity,” says CEO of the CFDA, Steven Kolb, “Our mission is to position our members as leaders in the global innovation of fashion and retail via digitally-led strategies to support growth and expansion.”