Velvet is a unique fabric that is typically known for being luxurious, costly, and beautiful. Oftentimes, most people associate velvet with royalty or affluence as it was popularized by European monarchs. This traditional velvet material was originally woven from silk in a long, extensive process. Authentic velvet is still around today, but it is extremely rare and extremely high in price. True velvet has become so rare that an alternative has been created.