Collezione Genesi, a nine-piece non-fungible token (NFT) collection from premium fashion house Dolce & Gabbana, sold for $5.65 million on the UNXD digital marketplace.
$1.275 million was paid for the most costly piece. Dolce & Gabbana’s apparel and accessories are expensive because they are a luxury brand. The cheapest boots online cost more than $500, and the majority cost more than $1,000.
The fashion house also creates one-of-a-kind haute couture pieces that sell for thousands of dollars, many of which are handcrafted and fitted for a specific client.
The NFT collection was exceedingly limited, in keeping with its name, boosting its exclusivity. Each of the nine NFTs was a one-of-a-kind object that included a physical item designed by Domenico Dolce and Stefano Gabbana as well as a digital high-design film.
In a series of tweets, Dolce & Gabbana’s official Twitter account celebrated the largest sale of the Collezione Genesi NFT in a very overwhelming manner. The tweets show different NFT products.
Men’s and women’s apparel, as well as “museum-grade” jewellery collections, were among the things on display. A multi-million dollar sale of nine digital pieces is the outcome of this scarcity.
THE NFT CRAZE AMONG BRANDS
Dolce & Gabbana’s awareness of the contemporary technology space, as well as its attempts to adapt and integrate into the evolving fashion business, which is getting more digital by the minute, were also highlighted in the campaign.
Dolce & Gabbana had a successful auction this time. It happened to coincide with the release of Vogue Singapore’s September issue, which focused on NFTs and their impact on fashion, adding to the buzz and popularity of digital assets in the industry.
Other firms, however, are using NFTs to advertise new products, rework digital strategy, or demonstrate to customers that they are keeping up with digital developments.
DKNY is launching an NFT campaign to promote their new logo.
Customers who register for DC Comics’ online event will receive a digital asset, while Neopets is attempting to resurrect its popularity, beginning with the release of an NFT collection.
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