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The current buzz around NFTs continues in the fashion world, and it’s not going to stop any time soon given the exorbitant prices being charged. NFT collectibles have skyrocketed globally in recent weeks. Just recently, it was virtual sneakers, by young artist Fewocious, that made $3.1 million in seven minutes through his collaboration with virtual trainer brand RTFKT Studios. Focus.
As a reminder, NFTs are pieces of digital real estate that are tracked on a blockchain, which is a record of digital transactions that cannot be altered. A non-fungible token is uniquely identifiable and is not interchangeable with anything else unlike cryptocurrencies. NFTs are part of the Ethereum blockchain, which is a crypto-currency like bitcoin, and is the currency in which NFTs are traded.
“NFTs are the future” When I started last year, it wasn’t as big as it is now. It was like my little community rankhaya.com beit-mirkahat.com. Now I’m like, guys, we made it, the whole world knows about our space. Every week I’m more and more surprised at how much bigger it’s getting.”
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Indeed, it took only seven minutes on 27 February to sell out of the 18-year-old artist’s limited edition sneakers in collaboration with the design brand Rtfkt.
“A total of 621 pairs were sold, for a net profit of $3.1 million,” the Wall Street Journal reports. What is striking, however, is that no one can wear Rtfkt’s shoes. They can’t even be touched. At least for now.
Each virtual edition of the Fewocious x RTFKT drop was accompanied by a physical pair of shoes. “I’ve never seen a shoe drop on Nifty, not at the scale we did,” the artist told Content Commerce Insider. “I’ve seen smaller ones, but I don’t know if any of them have ever been accompanied by physical ones like this https://slovenska-lekaren.com/kupit-g…ra-online/.”
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Another notable collaboration was with the iconic video game brand Atari, which partnered with the same design studio to launch a series of limited edition sneakers.
The first pair of sneakers, the OG Edition, was sold on SuperRare, NFT’s digital art marketplace, for 10 ETH, or over $18,000. The sale of the six additional editions has been underway since March 11 on the digital marketplace Rarible.
“Atari and RTFKT are collaborating with six artists to develop additional versions of the trainer, all inspired by iconic Atari games. Only 50 of each design will be sold as part of a limited release and will never be minted again (in NFT),” the statement said.
Although the sneakers cannot be worn, they are real collector’s items. They can also be used in blockchain-based multiplayer games, including Decentraland, The Sandbox and Atari’s upcoming Metaverse.
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Thanks to augmented reality, users or future buyers can try on the limited edition Atari trainers via the Snapchat app after scanning the Snapcode or with the MetaverseMe app.
An opportunity for luxury?
Given the excitement surrounding NFTs, and the amount of money involved, it seems logical that “big names in luxury goods, such as Gucci, Saint Laurent and Prada, will want to enter the fray”, writes the New York business daily at-casinos.com.
Indeed, fashion experts predict that the NFT system will extend to some of the most surprising areas, such as Instagram photos of models trying on an outfit or video clips from fashion shows, for example.
For example, the first NFT auction of a luxury watch started on 31 March and ended a few days later. The auction was organised by the cybersecurity company, IoT WISeKey and Jean-Claude Biver, a specialist in luxury watches.
Also, auction house Christie’s last month auctioned its first fully digital work of art by renowned designer Mike Winkelmann stránka.
Asian crypto-art marketplace BCA also organised the world’s first physical crypto-art exhibition last month at Beijing’s UCCA Contemporary Art Centre, with funding from the Kusama Network and Chinese mining company Bitmain libido-de.com. The exhibition would feature works by Winkelmann and other blockchain artists and highlighted China’s instrumental role in helping NFT gain wider recognition as fine art rankhaya.com.
And where there is art there is luxury, indeed NFTs are considerably surrounded by cultural capital. Thus, the combination of rarity and authenticity seem to make constant beacon calls to luxury brands genericforgreece.com.
In addition to buying NFTs to incorporate art into their collections, luxury brands could also use the NFT exclusivity model to offer digital fashion or art with a physical component, along the lines of the Fewocious x RTFKT collaboration.
“NFTs and the interest in digital artworks are all to the advantage of the luxury fashion industry,” said digital designer Nicole Zisman. “Unlike the high-street and fast-fashion sectors, the major shift would be in the ownership medium of luxury fashion that customers are interested in, not whether the interest in ownership exists in the first place.”
Read also > LUXURY WATCHMAKING : AUCTION OF THE FIRST EVER WATCH SECURED BY NFT
Featured photo : © Fewocious[/vc_column_text][/vc_column][/vc_row][vc_row njt-role=”not-logged-in”][vc_column][vc_column_text]
The current buzz around NFTs continues in the fashion world, and it’s not going to stop any time soon given the exorbitant prices being charged. NFT collectibles have skyrocketed globally in recent weeks. Just recently, it was virtual sneakers, by young artist Fewocious, that made $3.1 million in seven minutes through his collaboration with virtual trainer brand RTFKT Studios. Focus.
As a reminder, NFTs are pieces of digital real estate that are tracked on a blockchain, which is a record of digital transactions that cannot be altered. A non-fungible token is uniquely identifiable and is not interchangeable with anything else unlike cryptocurrencies. NFTs are part of the Ethereum blockchain, which is a crypto-currency like bitcoin, and is the currency in which NFTs are traded.
“NFTs are the future” When I started last year, it wasn’t as big as it is now. It was like my little community. Now I’m like, guys, we made it, the whole world knows about our space. Every week I’m more and more surprised at how much bigger it’s getting.”
View this post on Instagram
Indeed, it took only seven minutes on 27 February to sell out of the 18-year-old artist’s limited edition sneakers in collaboration with the design brand Rtfkt.
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The current buzz around NFTs continues in the fashion world, and it’s not going to stop any time soon given the exorbitant prices being charged. NFT collectibles have skyrocketed globally in recent weeks. Just recently, it was virtual sneakers, by young artist Fewocious, that made $3.1 million in seven minutes through his collaboration with virtual trainer brand RTFKT Studios. Focus.
As a reminder, NFTs are pieces of digital real estate that are tracked on a blockchain, which is a record of digital transactions that cannot be altered. A non-fungible token is uniquely identifiable and is not interchangeable with anything else unlike cryptocurrencies. NFTs are part of the Ethereum blockchain, which is a crypto-currency like bitcoin, and is the currency in which NFTs are traded.
“NFTs are the future” When I started last year, it wasn’t as big as it is now moje vysvětlení. It was like my little community. Now I’m like, guys, we made it, the whole world knows about our space. Every week I’m more and more surprised at how much bigger it’s getting.”
View this post on Instagram
Indeed, it took only seven minutes on 27 February to sell out of the 18-year-old artist’s limited edition sneakers in collaboration with the design brand Rtfkt.
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