JAKARTA NFT or non-fungible tokens are unique and non-exchangeable digital assets, which are stored on blockchain. NFT offers new possibilities for artists, collectors, and companies to create and trade authentic and valuable digital works.
Many world luxury brands are interested in releasing their NFT collections, such as Prada, Louis Vuitton, Tiffany & Co and Gucci. These luxury brands see the potential of NFT to improve their reputation, loyalty, and income in the digital era.
The fashion trend in the metaverse world is no less popular with the trend of fashion in the real world in 2023. Millions of users want to show their personality, hobby, and even financial benefits.
This is a better way for them by taking advantage of the presence of the metaverse. However, like fashion in the real world, the Web3 world also needs someone who regulates the trend.
Luxury fashion brands saw this opportunity after the NFT boom in 2021 and soon joined. Now, events like Metaverse Fashion Week in Decentraland host an impressive runway with seasonal collections.
Luxury brands increase their reputation and popularity, as well as increase their sales, in the NFT space. The following is a list of luxury brands that fall into the NFT space as summarized from various sources.
2. Prada
If there is a luxury fashion brand that likes physical NFT, it must be Prada. This iconic company launched its debut NFT collection in September 2022; users have to buy their physical goods to claim digital assets. To date, it looks like Prada will continue to follow the same NFT printing system.
Throughout 2022, Prada will continue by launching several NFT Timecapsules. To claim the Prada collection, you must monitor the release of their upcoming Timecapsule physical outfits. At the time of writing, the lowest price for this collection is 0.41 ETH.
2. Yves Saint Laurent
The luxury fashion brand selected from L'Oreal Group, Yves Saint Laurent Beauté, made its NFT debut in June 2022. In terms of design, 10,000 YSL Beauty Golden Blocks are basically 3D blocks with white backgrounds. However, each collection opens the door to the brand's exclusive Web3 community.
Half a year later, in January 2023, this iconic company launched a new collection to honor their fragrance line, Black Opium. Like Prada, this NFT also comes along with the purchase of Black Opium's physical fragrance from the company's website.
3. Gucci
Of all the brands on our list, Gucci has the most anticipated NFT debut through Christie's. This prestigious auction house launched the brand's first NFT video collection, "Aria," in May 2021, and sold for $25,000 per item.
Throughout 2022, Gucci opened their shop, VAULT, on The Sandbox, featuring their valuable vintage outfits. This luxury fashion brand also collaborates with 10KTF, joins Metaverse Roblox, and collaborates with BAYC creator Yuga Labs.
4. Louis Vuitton
This iconic brand joined the Web3 world during the NFT boom in August 2021. Their first drop was actually a gaming app featuring the corporate mascot, Vivienne, on its way to Paris. Players must look for and collect NFTs created by Beeple, one of the best-selling NFT artists to date.
In April 2022, Louis Vuitton launched the PFP NFT collection as well, which also features the mascot of Vivienne. This limited edition of assets is only available to users who play the Web3 Louis: The Game experience and rise to levels.
5. Dolce & Gabbana
Did you know that this is the first physical luxury fashion house to release an NFT collection? Launched in September 2021, D&G debut sold for 5.7 million US dollars (around Rp. 84 billion).
Since then, this brand has increased its presence in the Metaverse. In 2022, Dolce and Gabbana have teamed up with big names on the NFT market, including The Fabricant and inBetweiers.
6. Tiffany & Co
The leading luxury jewelry brand Tiffany & Co entered the world of NFT by buying "Okapi" NFT from Tom Sachs's Rocket Factory for 115 ETH in 2021. Almost a year later, Tiffany & Co actually hit the market with the "NFTiff" collection, which is dedicated to CryptoPunks holders only.
Basically, each CryptoPunk holder can claim a quantity made of diamonds and gemstones at a price of 30 ETH per item. This unique drop sold out in 20 minutes, collecting a total of 12.5 million US dollars or around Rp. 186 billion.
These are the 6 lists of luxury brands that have entered the world of NFT.
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