Dolce and Gabbana, D&G, made public its desire to have the foremost crypto influence, Elon Musk, “anointed” the king of crypto. D&G announced this via a tweet yesterday in support of the current auction to find buyers for its first NFT project called The Doge Crown.
Dolce and Gabbana, founded by top Italian designers, Domenico Dolce and Stefano Gabbana, is known for its worldwide success in the fashion industry. D&G has now stepped into the NFT world with The Doge Crown which is the first of several planned NFTs by the Italian fashion moguls. D&G partnered with UNXD, one of the largest NFT marketplaces to launch their NFT project in August 2021.
The Doge Crown is currently on auction on UNXD, and the current highest bidder made a stunning $501,819. A quick check showed that a user named Ethmad placed the bid.
As per the details of the project, the winner of the bid will get 4K rendered stills and animation of The Doge Crown and also a physical minted version. The bid runs for the next three days and some 18 hours. It is important to know that the NFT is in no way affiliated or related to Dogecoin.
Elon Musk And Crypto Influence
Elon Musk is one of the most vocal believers of Dogecoin. His tweets about Dogecoin have helped to increase the number of people holding or trading Doge in recent months. Just last week, Musk expressed support for the entertainment giant AMC’s plan to accept Dogecoin for transactions. Before this, Musk has also expressed a desire to have Doge become a means of payment for Tesla customers.
The crypto industry is no doubt greatly influenced by people like Elon Musk whose single tweet can send prices soaring or crashing. Earlier this year, Musk criticized bitcoin for its high energy demands for mining, and his comments contributed to the huge crash that saw bitcoin come to below $45,000. Just a week ago, Shiba Inu’s trading volume rose by over 1000% following a simple tweet of a puppy by Elon Musk.
All these, no doubt, are factors for Dolce and Gabbana’s decision to crown Elon Musk as the king of crypto through their NFT, The Doge Crown. Musk’s influence in the crypto world is far-reaching, and as brands, individuals, and groups jump on the wave of NFTs, the impact of influencers like Musk will be phenomenal.
How NFTs Are Impacting Crypto
The recent wave of NFTs that is sweeping all over has got celebrities and whales taking advantage of a new way to make money. NFTs are already being deployed across several industries. With several NFTs sold for huge millions already, the industry will be heavily impacted in the coming months when more NFT creators and buyers interact on the growing NFTs marketplaces.
Celebrities like Snoop Dogg and Elon Musk continue to be at the forefront of promoting the adoption of crypto and quite assuredly, millions of their followers will hop aboard in no distant time.