Gucci and other fashion brands plan to enter the NFT market

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The boom in non-fungible tokens (NFTs) has attracted the fashion industry – the popular Gucci brand is planning to release its collectible tokens. Other companies in the industry have similar plans.

So far, Gucci does not have an exact release date for collectible tokens. However, according to Marjorie Hernandez, founder of the Lukso blockchain platform, which aims to work with fashion brands, every representative of such a company has recently asked about the NFT space.

“The question is who will pull the trigger first. Luxury brands are lagging behind in e-commerce, so they want to catch up with new technologies like blockchain, ”Hernandez said.

A similar view was expressed by Natalie Johnson, CEO of Neuno’s fashion collectibles platform. According to her, Neuno is working with five luxury fashion houses, and plans to create on the platform “a universal three-dimensional wardrobe that will unite all the fashion items.”

“For example, someone buys a Versace dress on our website that is the same as J.Lo wore to the Grammy Awards. And the customer will be able to use filters to immediately “try on” it for herself, take a photo and send it to social networks. We are also working with major Asian game developers to make these NFTs usable in games. The NFT will be purchased once, but it will have many uses, ”Johnson said.

Amber Jae Slooten, co-founder of startup The Fabricant, noted that digital fashion in the form of NFT can transcend reality. Luxury brands don’t have to just copy their physical products. For example, you can release “burning” shoes or “water” dress.

While the use of NFT in the fashion industry is still in its infancy – collectible tokens are more often used as an object of art, rather than a utilitarian fashion item. Earlier, Bloomberg analysts said that the recent drop in NFT prices may indicate a decrease in excitement.

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