Italian Luxury Fashion House Dolce & Gabbana Sells NFT Collection for $5.7 Million – Blockchain

On September 30, Italian luxury fashion house Dolce & Gabbana sold an NFT collection for $5.7 million or 1,885 Ether. The designers' Collezione Genesi collection was sold through the UNXD platform, a network-based Polygon marketplace.

Dolce and Gabbana's Collezione Genesi Rakes in 1,885 Ether

Dolce and Gabbana's first non-fungible token (NFT) drop, Collection Genesi a whopping 1,885 Ether or $5.7 million with Ethereum ( ETH ) Exchange rates at the time of sale on Thursday. Two notable NFTs raised the most funds.” The Doge's Crown " and " The glass suit.”

“The Glass Suit” NFT was personally designed by Domenico Dolce and Stefano Gabbana and the suit is both an NFT and a physical version tailored specifically for the winner. There were also two versions of an NFT called “Dress from a Dream” in the 9-piece “Unique Collection.”

“In a historic moment for the NFT ecosystem, Collezione Genesi is the first luxury NFT collection that includes both digital and physical works, truly bridging the physical and metaphysical,” says Dolce and Gabbana’s NFT web portal.

The UNXD Culture Fund, other fashion houses involved in NFTs

In addition to Thursday’s NFT collection sale, a new $10 million “Culture Fund” was launched by UNXD. The goal of the “Culture Fund” is to accelerate the fashion industry’s expansion into the metaverse and NFTs. The announcement detailed that the fund will open up various revenue opportunities for fashion brands and designers.

Dolce and Gabbana isn't the only fashion act in the industry dabbling in NFTs. A large number of other fashion houses such as Gucci, Burberry and Louis Vuitton have all unveiled NFT promotions.

Burberry used Mythical Games' multiplayer online game Blankos Block Party to list its NFTs, and Louis Vuitton also used a game promotion. Frenchman Louis Vuitton launched a mobile game and players were able to collect a total of 30 non-fungible tokens. The fashion label Gucci used the auction house Christie’s for its first NFT drop.

What do you think of Dolce and Gabbana's NFT sale? Let us know your thoughts on this topic in the comments below.

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