Famed Milan-based fashion house, Dolce & Gabbana, has officially announced the debut of its first non-fungible token (NFT) collection.
Dolce & Gabbana has been at the forefront of Italian fashion for decades, after being founded in the mid-’80s by Stefano Gabbana and Domenico Dolce. Now, in 2021, the high-end brand is jumping into the world of NFTs with its very first digital sale. The collection, titled ‘Collezione Genesi’ or the ‘Genesis Collection’ will feature exclusive pieces that have been inspired by the traditions and history of Venice, according to Vogue magazine.
The launch will be co-headlined by UNXD, a Polygon-powered NFT marketplace. Pieces from the Collectzione Genesi will be displayed from August 28 to August 29 at the D&G shows Alta Moda (high-fashion), Alta Sartoria (high-formalwear), and Alta Gioielleria (high-jewelry). After those shows conclude, the Collezione Genesi will be available on the UNXD marketplace starting September 1.
The first piece to be revealed as part of the Collectzione Genesi is called ‘Dress for a Dream’. The concept revolves around a vivid dream had by founders D. Dolce & S. Gabbana. The remainder of the fashion NFTs will be revealed in the weeks leading up to the August shows.
High-fashion NFTs becoming mainstream
Earlier this year, Vogue Business reported that several industry insiders had confirmed a number of high-end fashion brands were in various stages of planning NFT collections. Some have already released them. Gucci, for example, recently sold an NFT at Christie’s Auction House for $25,000. Gucci also released several digital shoes in the last few months that have proven to be wildly popular. One of which was selling Gucci digital sneakers for $12 a pop.
Another brand, Clothia, has taken a more straightforward approach to NFTs and fashion. The online marketplace not only sells real-life dresses but also includes NFTs that are attached to physical garments. CEO of Clothia, Elena Silenok, believes that brands can look to NFTs as a new revenue stream beyond existing goods. “NFTs could be similar to how fashion brands see bridge or diffusion lines.
Just like how a Chanel lipstick is more accessible to customers than a Chanel handbag, luxury brands can use NFTs to give more customers access to their brands.” She goes on to point out that Gucci’s $12 digital sneaker sale is a prime example of this.
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