Pacific Sunwear of California LLC recently completed its first NFT auction.
The digital piece, also known as a non-funible token, bearing an animated version of the retailer’s very first logo sold for what amounted to $754.86 this month. All of the proceeds went to the Fashion Scholarship nonprofit.
It’s the first non-fungible token for Pacsun, but not the last.
NFTs, and their one-of-a-kind digital appeal, continue to rise in popularity, particularly among marketers looking to up the ante on their digital efforts. This has been a major point for Pacsun as it emphasizes how keen it is to resonate among the Gen Z audience via a digital-first strategy.
Pacsun has said NFTs, gaming and augmented reality will all be areas the retailer will invest in through this year and into next.
Pacsun entered the metaverse in June with branded clothing after partnering with San Mateo-based gaming platform Roblox Corp. (NYSE: RBLX), and hinted there would be more as it looks to virtual experiences to stay in touch with its existing consumer base and also nab new ones.
Up next for Pacsun is Pacworld, a mall in the metaverse on Roblox. Similarly, Costa Mesa-based Vans Inc. in its Vans World on Roblox sells branded T-shirts, accessories and skate decks inside its virtual store.
It would appear malls aren’t dead; they’re just going virtual.