Fashion Law Journal
Most Popular NFT Collection
Luxury fashion brands along with major fashion houses are nowadays releasing their NFT collections very frequently in the Metaverse. One can virtually purchase different items such as shoes, bags, jackets, and hats, among others from the limited edition collections of various brands.
Let us have a look at some of the most popular fashion brands and their new collection in the metaverse.
- Dolce & Gabbana
One of the popular luxury brands Dolce & Gabbana launched a very profitable NFT sale which consisted of a hybrid NFT/physical model worth more than USD 6 million that included 9 pieces. Out of the 9 pieces, 5 items were transformed into digital versions after they were produced traditionally by Dolce & Gabbana. This transformation can be seen as a combination of the physical as well as the metaphysical aspect of NFT.
While most NFTs do not have digital or physical variants, the Dolce & Gabbana NFTs include the possibility of choosing collaborator UNXD to transfer the digitally animated fashion products included in the NFT to a metaverse of one’s choice.
- Gucci
With the launch of the NFT experiment in May 2021, one of the first luxury brands to enter the world of NFT was the Italian brand Gucci. The brand released an NFT-film based on its Aria collection to commemorate its 100th anniversary. The short film of four minutes was auctioned for $25,000 at Christie’s, with the profits going to UNICEF to help with COVID-19 relief efforts.
- Louis Vuitton
On August 4, 2021, French fashion brand Louis Vuitton commemorated its founder’s 200th birthday by releasing “LOUIS THE GAME,” a smartphone game.
The game, which includes 30 NFTs, follows the story of the brand’s mascot named Vivienne. The doll which is made of wood has the brand’s floral logo and completes many adventures as it travels through Louis Vuitton’s long history. The art collection, created in conjunction with Beeple, an NFT artist, was valued at USD 69.3 million. The NFTs are not for sale to the public as they can be only used for the purpose of the game.
- Nike X RTFKT
RTFKT Studios is a company for digital fashion for sportswear and gaming, established in 2020 and has had a profit of over USD 3 million through the sale of virtual sneakers, and the valuation of the brand at the time of acquisition was USD 33 million. RTFKT was acquired by Nike on 14 December 2021. President and the CEO of the brand Nike- John Donahoe said “This acquisition is another step that accelerates Nike’s digital transformation and allows us to serve athletes and creators at the intersection of sport, creativity, gaming, and culture”
On Snapchat, RTKFT held a “try on” session virtually for the sneakers, thereafter the bidders could have a digital auction. The winners received tangible shoes, but digital shoes remain the most valuable asset.
Since RTKFT studio announced its affiliation with Nike Inc., its popularity has grown. The inspiration for the virtual sneakers of RTKFT has been taken from the signature Nike shoes.
- Burberry
The first NFT was launched by the collaboration of Burberry, a British luxury fashion brand, and Mythical Games which was titled “Blanko Block Party”. Players can purchase NFT toys in this multiplayer game, which features many playing modes and stages in which they can complete various missions and tasks. Shark B, a shark character is a limited edition TB Summer symbol and has a limited quantity of NFT in this gaming arena. The fashion business has also released a number of accessories of NFT for Shark B which can be worn by any other Blanko in the game.
- Givenchy
Givenchy, a French luxury fashion brand, has unveiled a new collection of fifteen NFTs, the first of its type, in partnership with famous graphic artist Chito. Chito and Williams have previously collaborated on the pre-collection of Spring’22, creating an amazing collection with sprayed figures and patterns that extended Givenchy’s design boundaries into the magnificent arena of graphic art. The unique set of fifteen original NFT designs will showcase the very same signature designs used during the Spring ’22 pre-collection as a furtherance of the collaboration.
- Balenciaga X Fortnite
Balenciaga is the first luxury brand to drop in the game Fortnite. Balenciaga suggested selling four signature products from its collection in the game for avatars as accessories and as skin, making it the first luxury fashion brand to collaborate with Fortnite, the online game. People can visit the Balenciaga store in person to shop for the Fortnite x Balenciaga collection.
- Overpriced.™
Overpriced.™ has launched a series of NFT hoodies with codes that are only available to the buyer. Ten of such hoodies were auctioned for USD 26,000 on Block Party, the platform for NFT marketing on April 13, 2021, and the rest 25 hoodies were given to fashion and music influencers as a gift.
- SUPERPLASTIC X GUCCI
SUPERGUCCI is a collection that is divided into three parts of extremely limited NFTs co-created by the Creative Director of Gucci and synthetic artists Guggimon and Janky is a unique collaboration between Gucci and Superplastic. Each NFT features House codes from the Gucci Aria line and includes an eight-inch tall SUPERGUCCI sculpture of Super Janky in the colour white handcrafted by Italian ceramicists.
The chart gives an overview of the data of the revenue generated in U.S. dollars by NFTs for a specific group of luxury fashion brands.
Author: Disha Parmar (Student Editor)
