Dolce & Gabbana, the Italian luxury fashion brand, has partnered with UNXD, a digital marketplace powered by the Polygon Network, to launch an exclusive non-fungible token (NFT) collection, which hopes to become an exclusive marketplace for digital luxury and culture.
It has been reported that the fashion brand’s debut NFT collection will be named "Collezione Genesi" or Genesis Collection. Dolce & Gabbana will feature the collection at its upcoming shows for Alta Moda, Alta Sartoria, and Alta Goilleria in Venice at the end of August.
However, the collection focuses on the deep-rooted artistic traditions of Venice. The first concept in the collection is inspired by a dream from designers Domenico Dolce and Stefano Gabbana called "L’abito dei Sogni" or Dress from a Dream.
The report said that other NFTs in the Collezione Genesi collection will be revealed in the weeks before the Alta Moda, Alta Sartoria, and Alta Goilleria shows. All will be exclusively auctioned on UNXD. Dolce and Gabanna’s NFT is not the first in high-end fashion to get involved in the NFT market.
It has been analyzed that designers involved with the Paris Fashion Week will have a few NFTs available, with Gucci rumored to be joining the NFT space as well. Even as prices for many cryptocurrencies drop, NFTs have remained strong, with more and more additions to the market. Recently LABS Group combined real estate with NFTs, allowing people to purchase a stake in its resort using the popular token technology.
Thus, artists like Muse have also continued to create more NFTs as brands, nonprofits and foundations each join the growing market.