Dolce and Gabbana will debut its NFT collection on a marketplace called UNXD. This will include a virtual auction which will begin on 20 September 2021.
The collection from Dolce & Gabbana, called Collezione Genesi is a nine-piece NFT auction that is worth tens, if not hundreds of Euros.
According to Vogue thousands of interested parties have already signed up on the UNXD site to participate in the auction.
This will mark the iconic brand’s first foray into the NFT market.
NFT’s, also known as “Non-fungible” more or less means that it’s unique and can’t be replaced with something else. It works the same as a bitcoin.
They are fungible — trade one for another bitcoin, and you’ll have exactly the same thing. This once in a lifetime trading card, however, can not be given back.
NFT’s involve anything digital and today there is a lot of excitement around using this type of technology to sell digital art.
Will anyone spend six figures – or more – on fashion that can only be experienced in the digital realm? Dolce & Gabbana thinks the answer is yes.
Dolce & Gabbana officially launched its one-of-a-kind, 9-piece collection at their Alta Moda show.
The Venice extravaganza, which took place at the end of August this year, took inspiration from the Italian duo’s historical hometown.
These 9 pieces are personally designed by Domenico Dolce and Stefano Gabbana and are gearing up to be sold in the virtual auction.
On Twitter they stated:
“We believe this collection represents the future of NFTs. A way for the metaverse and the universe to coexist. It’s all about creating an amazing experience for our collectors and community.” – Dolce & Gabbana
The Collezione Genesi auction will be on a Polygon-backed marketplace that is designed to hold digital luxury and culture.
The marketplace, UNXD, took sustainability into account when developing the platform to auction the collection, building on Polygon, a blockchain that is 99% more energy-efficient than the notoriously high-energy consuming cryptocurrencies Bitcoin or Ethereum.
If you want to score the NFTs, you need to follow the auction diligently because there will be different closing dates for each item category from September 28-30th.
Check out the teaser below:
Some of the pieces you will expect to see are as follows:
- Dress from A Dream – one gold and one silver, both encrusted with opulent embroidered images of colourful hand-blown goblets.
- The Glass Suit
- The Impossible Tiara
- The Impossible Jacket
- The Lion Crown
- The Doge Crown
The collection will feature the digital versions of five physical pieces (two dresses, a men’s suit, and two crowns).
The remaining four items in the NFT collection are entirely bespoke virtual designs. The best part? All nine pieces can be used in the metaverse as wearables.
Their most prized possession is based on the first concept, titled “Dress from A Dream”. It is based on a vivid dream from the creativity of the designers.
The high-fashion brand believes that the collection is a celebration of human artistry and craftsmanship.
It is something that humans can do that machines simply cannot do on their own. These creations, both digital and physical, are simply magical.
“We believe culture is currency and NFTs have revolutionized the market around digital culture. UNXD is focused on providing collectors with the best items and experiences for these culturally significant works.” – UNXD
Be warned, however, bidding for Collezione Genesi is only open to approved bidders in crypto or fiat.
So, the question remains: what if those garments didn’t physically exist?
Would anyone spend six figures for a one-of-a-kind handcrafted fashion or jewellery piece that could only be experienced in the digital realm?
Well, it’s not just Dolce & Gabanna who are jumping on this futuristic fashion technology ideal. Other brands like Burberry and Gucci are closely following suit.
Even artists are heading over to these NFT platforms. According to Vogue Mike Winkelmann, the digital artist, known as Beeple disrupted the art market this year.
During his auction at Christie’s Fine Art Auctioneers, his unique NFT artwork: “Every day’s: The First 5,000 Days” sold for an astounding $69 million – the third-highest price paid at auction for a work by a living artist.
Today, fashion technology is growing at a faster pace than ever before. Who knows what’s next for our ever-changing digital world?
If you are interested in joining the bid, click here to apply.
Otherwise, for more information visit their site here.