On September 30, Italian luxury fashion house Dolce & Gabbana sold the NFT Collection for $5.7 million, or 1,885 ether. The Collezione Genesi Collection for Designers was sold via the UNXD platform, a marketplace running on the Polygon Network.
Dolce and Gabbana’s Collezione Genesi Rakes at 1,885 ether
Dolce and Gabbana’s first non-fungible (NFT) drop, Collezione Genesi generated 1,885 Ether, or $5.7 million, using the exchange rate of Ethereum (ETH) at the time of the sale on Thursday. Two notable NFTs brought in the most money, “The Doge Crown” and “The Glass Suit”.
The NFT “glass suit” was personally designed by Domenico Dolce and Stefano Gabbana and the suit is a copy of the NFT and a physical copy designed specifically for the winner. There were also two versions of the NFT called “Dress from a Dream” in the 9-piece “One-of-a-Kind Set”.
“In a historic moment for the NFT ecosystem, Collezione Genesi is the first luxury NFT collection to include both digital and physical works, truly bridging the physical and the metaphysical,” says Dolce and Gabbana’s NFT web portal.
UNXD Culture Fund, other fashion houses delve into NFTs
In addition to Thursday’s sale of the NFT Group, a new $10 million “Culture Fund” was launched by UNXD. The goal of the Culture Fund is to accelerate the expansion of the fashion industry into the metaverse and NFTs. The announcement detailed that the fund would generate various revenues for fashion brands and designers.
Dolce and Gabbana isn’t the only fashion act in the industry to get into NFTs. A large number of other fashion houses such as Gucci, Burberry and Louis Vuitton have revealed their NFT promotions.
Burberry has used Mythical Games’ online multiplayer game Blancos Block Party to take down NFTs, and Louis Vuitton has also used a promotion for the game. French company Louis Vuitton has launched a mobile game and players can collect a total of 30 non-fungible tokens. Fashion label Gucci used auction house Christie’s for its first NFT bid.
What do you think of the NFT sale by Dolce and Gabbana? Tell us what you think about it in the comments section below.
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