Records reveals that the Italian luxury fashion house Dolce & Gabbana sets up an NFT collection for $5.7 million or 1,885 ether. The announcement goes live September 30, with The designers’ Collezione Genesi collection. Of course, selling through the platform UNXD, a Polygon network-powered marketplace.
Dolce and Gabbana’s Collezione Genesi Bags In 1,885 Ether
Dolce and Gabbana’s first-ever non-fungible-token (NFT) drop, Collezione Genesi bags up a massive 1,885 ether or $5.7 million. While, using ethereum (ETH) exchange rates at the time of sale on Thursday. Notably, Two notable NFTs has the most funds, “The Doge Crown” and “The Glass Suit.”
“The Glass Suit” NFT is Domenico Dolce personal design and Stefano Gabbana. Also, the suit is both an NFT and a physical version specifically for the winner. Furthermore, The NFTs has two versions of it: “Dress from a Dream” in the 9-piece “one-of-a-kind collection.”
“In a historic moment for the NFT ecosystem, Collezione Genesi is the first luxury NFT collection that involves both digital and physical works…,” “…truly bridging the physical and the metaphysical,” Dolce and Gabbana’s NFT web portal says.
Other Fashion House Joins In, Not Just Dolce and Gabbana
While on the NFT collection sale on Thursday, UNXD launches a new $10 million “Culture Fund”. The aim of the “Culture Fund” is to facilitate the fashion industry’s expansion into the metaverse and NFTs. More so, The announcement goes on to explain how that the fund will bring different avenues of revenue to fashion brands and designers.
Meaning that, Dolce and Gabbana is not the only fashion act in the industry delving into NFTs. Also, other big number of other fashion firms like Gucci, Burberry, and Louis Vuitton reveals NFT promotions.
Burberry takes advantage of the Mythical Games multiplayer online game Blankos Block Party to drop its NFTs. While, Louis Vuitton uses a game promotion.
Also, France’s Louis Vuitton launches a mobile game where players can collect a total of 30 non-fungible tokens. Conclusively, The fashion giant label Gucci uses the auction house Christie’s for its first NFT drop.