U.K.-based fintech platform Twig is letting young Europeans exchange physical clothing for digital ‘fits. 

U.K.-based fintech platform Twig is letting young Europeans exchange physical clothing for digital ‘fits. The next-gen clothing swap is in partnership with The Dematerialised, a platform for trading and selling fashion NFTs, and aims to tap the growing market for digital fashion while also giving young consumers the opportunity to engage in sustainable fashion choices. WE sustainability report shows that young Europeans’ fears about climate change are impacting their purchases, leading them to value secondhand shopping—whether through shopping at thrift shops, resale platforms, or opting for rentals. Secondhand clothing is now a $40 billion a year industry and is expected to grow 15-20% in the next five years. Meanwhile, our WE Metaverse trend report found that 39% of young Europeans are shopping for digital products in web3 spaces with digital fashion items being their top purchase. Now, digital fashion is becoming nearly as important to young people as what they wear in real life, especially among Gen Z. Twig is tapping the importance of virtual fashion by allowing Gen Z the opportunity to trade up their IRL items for ones their avatars can show off in the metaverse. (Glossy)