Crypto fashion: why people pay real money for virtual clothes

Sneakers made by the digital fashion company RTFKT, featuring a unique design generated from a CryptoPunk, a popular kind of non-fungible token (NFT), as The CryptoPunk-themed sneakers were sold in both physical and digital form to CryptoPunk owners, is seen in this picture obtained by Reuters on August 10, 2021. RTFKT INC/Handout via REUTERS

LONDON (Reuters) - People care what their avatars are wearing.

When the virtual world Decentraland said in June users could make and sell their own clothing for avatars to wear on the site, Hiroto Kai stayed up all night designing Japanese-inspired garments.