The final auction price for Dolce & Gabbana’s inaugural NFT collection edged towards US$ 6 million (around RM 25 million) last September. The nine-piece digital-garment tech drop on the USXD marketplace was bought using the cryptocurrency Ethereum, and included pieces such as the Glass Suit and “Doge” Crown. The Italian fashion label, known for its love of heritage, broke records for digital fashion – and, once again, the non-fungible token (NFT) was catapulted into the limelight.
The NFT has been a hot topic recently and its biggest champions argue that fashion NFTs represent the next evolutionary step, whether it’s digital fashion skins for avatars or wardrobe collectables that can be used in gaming and multiple metaverses. The likes of Gucci, Louis Vuitton and Balenciaga have already dipped their toes in, often partnering with popular games like Fortnite. Gucci marked its 100th anniversary by selling its landmark Aria NFT collection for US$ 25,000 (around RM 105,000) at Christie’s in June. In a move that signals the social-media giant’s future direction, the Facebook group has changed its name to Meta (as in metaverse).
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