Luxury brand Dolce & Gabbana launches NFT collection – Ledger Insights
Luxury brand Dolce & Gabbana will launch a collection of non-fungible tokens (NFT) in partnership with the digital marketplace UNXD. The collection is called Genesi and will be promoted at upcoming Dolce & Gabbana Alta Moda, Alta Sartoria and Alta Goilleria shows.
Luxury brands have been playing with NFTs for some time. Gucci was one of the first to partner with a platform to develop 3D clothing as NFT and many more have confirmed Vogue that they were in the process of concluding NFT agreements.
Despite these claims, few high-end fashion names have yet entered the NFT space.
One way to bring luxury names into the digital world is through gaming partnerships. Digital fashion became popular with the rise of esports, as brands looked for ways to put their product on the market. video screen. Louis Vuitton launched a digital fashion line with League of Legends.
Some industry experts believe NFTs may be the next development in digital fashion, allowing gamers to own the garment in a digital space outside of video games. Burberry was one of the first to launch an in-game NFT clothing collection in partnership with Mythical Games.
Another implementation of NFTs in the fashion industry is to give them as gifts to special attendees at fashion shows. The Federation of Haute Couture and Fashion (FHCM) in partnership with Arianne to offer NFTs to participants, buyers and journalists selected during Paris Fashion Week Men and Haute Couture Week.
However, Dolce & Gabbana’s collection is nothing like Louis Vuitton’s digital fashion offering, Burberry clothing line for game characters, or FHCM’s NFTs as memorabilia. This is a premium product aimed at the traditional corporate audience rather than the younger, wealthy crypto gambling market.
The collection is centered on the artistic traditions of Venice, where the fashion shows will take place. The first NFT to be auctioned is called “Dress from a Dream” and is inspired by a dream of designers Domenico Dolce and Stefano Gabbana. While the NFT may very well be beautifully designed, only active fans of the brand are likely to be interested in owning a digital representation of owners’ dreams.
UNXD seeks to position itself as a brand targeting luxury NFT offerings. Each piece in the collection will be auctioned exclusively on the UNXD Marketplace, which is powered by the Polygon network.
Polygon is an Ethereum scaling solution that reduces environmental impacts and NFT manufacturing costs. WENEW, Beeple’s NFT business, is also powered by Polygon.