In the name of diversifying assets, more and more financially-savvy people are interested in understanding NFTs. Non-fungible tokens, or NFTs, are digital securities with various values and owners. These monetary entities are similar to physical assets: they come in the shape of artist portraits, designer sneakers or cool clothes. The only difference here is that NFTs are not available for purchase with fiat money, but exclusively with cryptocurrency that is verifiable via blockchain. The prolific fashion house of Dolce & Gabbana is leading the charge in establishing real-world uses for this technology.
Dolce & Gabbana is a vogue couturier originating from a meeting at a club in Italy. In 2021, the partners debuted an unprecedented nine NFT collectibles onto the luxury digital marketplace UNXD in a showcase called “Collezione Genesi NFT”. One tuxedo made of glass broke the record for the most valued NFT purchase. The suit went for the equivalent of $1 million in Polygon cryptocurrency. Containing 15% Swarovski crystals and 85% Murano glass, this one-of-a-kind fashion item establishes a modish trend that will motivate a new generation of Dolce & Gabbana fans. Who would not want to have a status symbol like a crystalized costume as their avatar’s new skin?
The following year in 2022, the influential maison de couture created a digital fashion line for the inaugural Metaverse Fashion Week. The show itself appeared on Decentraland, an online-only experience where users can rent their own piece of this digitized world. The number of collectibles jumped from nine to 20, all uniquely inspired by the high-end atelier. From that experience, Dolce & Gabbana managed to find a way to support their NFT customers with DGFamily, an exclusive NFT benefits platform for holders who are able to receive advanced news of events, collaborations and new digital wearables. This exclusivity allows the onlookers to be a part of something that only exists in one special place.
From their Alta Moda collection to the Alta Sartoria, Domenico Dolce and Stefano Gabbana continue to stun audiences and wearers year after year with their curated fashions. The digital fashions of Dolce & Gabbana are no different. This year, elevate your artistry by submitting your fashions inspired by the Italian peninsula. Dolce & Gabbana is looking for people who can draw, sketch or design an NFT collectible reminiscent of the current mode of the bespoke brand. The individual should also be looking to share the royalties in a future art commission if accepted. Contestants will supply a minimum of five and a maximum of 20 looks. Moreover, the wearables must reflect the traditional and iconic prints of the visionary Dolce & Gabbana:
• the traditional Venice Carretto
• Blue Mediterranean
• the famous DG logos
• quintessential black lace
As a leading couture house, Dolce & Gabbana is making progress toward innovating the way we experience fashion. Digital collections solve concerns about over-producing clothes as well as their inevitable descent into landfill. Furthermore, NFTs are a novel and fun way to collect and trade fashion items, though the ramifications of NFTs on the physical sartorial industry are not yet known.