The Dematerialised is teaming up with fintech platform Twig to let consumers exchange physical clothes for digital fashion. 

The Dematerialised is teaming up with fintech platform Twig to let consumers exchange physical clothes for digital fashion. Known as a “bank of things,” Twig allows users to exchange fashion goods and more for credits that can be used to shop. To encourage young consumers to shop for more digital items than physical goods, Twig wants to reach young people in the Web3 space by entering a partnership with The Dematerialised. A user’s Twig Pay funds can be used to buy NFTs, and physical fashion items exchanged through the platform can be sent into Twig’s physical warehouse where it will validate each item, then send users the amount it’s valued at in digital funds for them to use on future virtual purchases. Our Metaverse trend research shows young consumers who play virtual worlds are purchasing everything from virtual clothing to land inside the metaverse, and giving them an opportunity to gain access to more virtual items by trading in the items they own IRL is one way to reach them. (Glossy)