As non-fungible tokens (NFTs) gain more and more relevance and more projects and use cases emerge around them, the big brands are joining the digital collectibles drift.
Inevitably NFTs are also catching the attention of the fashion industry as we see some of the most famous brands entering the NFT space and expanding to the digital fashion world.
One of the luxury fashion brands that have joined the NFT trend is Jimmy Choo who steps into the digital art world with the introduction of two NFTs. In partnership with street artist Eric Haze, the luxury fashion brand has launched the NFT collection on Binance’s marketplace featuring one-of-a-kind NFT, exclusively designed digital sneaker and special limited-edition Mystery Boxes containing a digital creation only revealed when you open the box.
Source: NFT | JIMMY CHOO
Dolce & Gabbana has recently set a $6 million record for fashion NFTs as they auctioned a nine-piece collection. The collection, titled Collezione Genesi, featuring both digital and physical items was displayed and auctioned on the Polygon-powered digital luxury marketplace, UNXD. This one-of-a-kind collection was personally designed by Domenico Dolce and Stefano Gabbana exclusively for UNXD. The entire Collezione Genesi NFT had sold for 1,885.719 ETH. The highest sale of the collection was The Doge Crown sold for 423.5 ETH.
Another fashion brand making its first step into the world of NFTs is Gucci with the NFT inspired by its fall 2021 collection called “Aria,” a three-channel video loop which was sold for $25,000 in an auction hosted by Christie’s. Co-directed by Alessandro Michele and award-winning photographer and director Floria Sigismondi the NFT marks a significant turning point for the iconic brand, as it enters the new world of virtual fashion and art.
Burberry, the global luxury brand has also launched its first-ever NFT collection. Burberry dropped a limited-edition NFT collection for Mythical Games. Their multiplayer online game Blankos Block Party features digital vinyl toys known as Blankos that live on a blockchain. The players can compete in a variety of fun minigames with friends, collect and blend unique digital vinyl toys called Blankos and earn fully ownable digital items through gameplay, in each case in the form of NFTs which can also be bought and sold on the Mythical Marketplace in player-to-player transactions for real money giving players a new way to interact with the brad.
source: (burberryplc.com)
The importance of NFTs in the fashion sector is gaining momentum and not only the major brands but also some fashion icons begin to design NFTs. Earlier this year, Kate Moss, the British supermodel, in collaboration with art collective MITNFT, produced three video NFTs capturing some of her most intimate moments like driving, walking, and sleeping. One of them, “Sleep With Kate,” a clip of her snoozing, sold for more than five ETH, a percentage of which she donated to charity Gurls Talk, an organisation that provides mental health support to young women and girls.
‘’[NFTs] are a new medium for art that I can participate in directly and be in control of my image. It gives you the artistic license to just go out there and do it”, said the supermodel in one of her interviews.
NFTs are becoming increasingly popular in the fashion industry with more luxury brands venturing into the world of digital art and creating unique digital NFT collections surpassing the limitations of the physical fashion. The new generation of consumers see a lot of value in the digital collectables and shift their attention towards a virtual reality world. The emergence of marketplaces to meet this demand has only just begun and major luxury brands don’t want to miss out to be a part of that revolution and they experiment with new technologies like blockchain embracing the NFTs .
If you want to read more about what NFTs are and why they are the next big thing for the digital lifestyle you can find it in the previous article here.
