In imitation of the mission patches worn by their parents and grandparents, some of the upper/middle-class youths of Luna and Mars design patches of their own, representing their own accomplishments. A simple graphics design AI can propose a variety of patches for an achievement, and once the user chooses one, smart clothing can weave the patch automatically.
The general feeling is that only real-world accomplishments count, although particularly impressive achievements in particularly realistic simulspace games are sometimes acceptable. Each patch is unique, but some common themes are winning competitions, successfully breaking the law, or being the first to pull off a particular stunt.
The practice is also catching on among some scum militia groups, although their patches are given more for things like "he drank it without even knowing what it was, what an idiot".