I wrapped and flipped a P bass in a textured carbon fiber wrap, looked and felt like the real deal. It looked gorgeous - though I’d have to go a-searching for pics, it was several years ago. I was a professional wrap installer (fleets, vehicles, custom sports cars, race cars, etc.) Sky is the limit.
TWO things to note: if you don’t wrap it entirely, then yes the body will fade while under the wrap does not (uv ray’s can’t fade what they don’t touch)
And, especially depending on how much primer (an aggressive pre-application adhesive used to keep the edges down), removal of the wrap will most likely damage the original finish. After a few years, it is guaranteed to damage the finish when removed. Particularly if a filler was used under the paint on the bass.
There is no third thing.
(Not true, there are many more things)