In the world of haute couture, leading Italian brand Dolce & Gabbana is certainly no stranger to making headlines for dazzling styles and Avante Garde fashion designs. They are once again the name on everybody’s lips but this time they have chosen to merge their signature style with blockchain technology. Since its inception blockchain has paved the way for innovation and now it seems that the fashion industry is next in line. While many big names remain skeptical of blockchain technology for a range of reasons, the Italian powerhouse of fashion has seized the opportunity with both hands and taken a brave leap to introduce a new era of fashion to the world.
Bridging The Gap Between Technology And Fashion
Their upcoming collection will be released as an NFT on UNXD, a luxury marketplace on the Polygon network which unlike Ethereum which is widely used, allows cheaper transactions on its network. The collection is aptly titled ‘Collezione Genesi’ which translates as Genesis Collection. A fitting name for a foray into yet untested waters. The new collection will have works personally designed by the fashion brand’s co-founders and will debut in their upcoming Alta Moda show in Venice. This launch of the Collezione Genesi line is expected to occur on the 28th of August with the NFT auction later on the 6th of September. In a Friday Livestream held on Twitter, the UNXD CEO was enthused about the partnership between his platform and the fashion house stating that they were taken with the idea and seemed genuinely interested in it. The COO was similarly enthusiastic describing it as bridging their creative work from the physical to the metaphysical.
This new partnership will pave the way for other fashion houses to take the bold step and follow in the footsteps of the brand. NFTs also made waves in the fashion industry as British brand Burberry, earlier this month launched their first NFT collection in a partnership with Mythical Games. This partnership featured the release of a vinyl toy ‘Sharky B’ as well as other accessories. As it stands, NFTs are becoming an increasingly hot topic with multiple industries taking advantage of them to make the connection between cryptocurrency and their respective industries. Earlier this month, American magazine Fortune made a splash in the headlines as it earned 429 ETH ($1.3 million at the time) in its own foray into the NFT space. The proceeds from this sale were split evenly, with half going to charity and the remaining half split between the artist and the magazine.
The utilization of NFTs has shown that it is a good way for industries that remain tepid towards investing large capital into the cryptocurrency space to test the waters before taking a full dive and that seems to be working well for those that have tried so far with mostly positive outcomes being reported. It is gradually filling a unique niche by allowing the gradual integration of cryptocurrency into previously unexplored areas.
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