The auction for the digital items of Dolce & Gabbana ’s Collezione Genesi ends tomorrow. From a total of nine pieces, five have a physical and a digital version, which reportedly are wearables that can be used in the metaverse. This is the first high-fashion meets NFTs moment, but it certainly won’t be the last. Besides the competitors that are surely going to pop out soon, Dolce & Gabbana themselves are planning a whole lot more in the space.
Related Reading | NFT Project To Donate 100% Of Income To Help Afghan Women Access Education
But, let’s not get ahead of ourselves. The official auction site describes the collection as:
“In a historic moment for the NFT ecosystem, Collezione Genesi is the first luxury NFT collection that involves both digital and physical works, truly bridging the physical and the metaphysical.”
The legendary fashion brand, Dolce & Gabbana, is working alongside UNXD, who describe themselves as “a curated marketplace for the best of digital culture.” They inform us that “All pieces were personally designed by Domenico Dolce and Stefano Gabbana exclusively for UNXD.” Here’s a phenomenal video showing the nine available items, but, make sure to notice that since it was published the bids have doubled up. And the number will probably increase tomorrow.
.@dolcegabbana’s Genesi collection already has $1M+ in bids, 5 days before the end of the auction! 🔥
The collection is amazing and sets new standards in many ways.
Bidding is live at https://t.co/yy33o56Vxs; powered by @0xPolygon so everything is fast and there are no fees. 💫 pic.twitter.com/hdeJ8qjMJC
— Mihailo Bjelic (@MihailoBjelic) September 25, 2021
Also, notice that the tweet comes from Polygon’s co-founder Mihailo Bjelic. The Dolce & Gabbana ’s NFTs live on the Polygon network.
MATIC price chart on Bittrex | Source: MATIC/USD on TradingView.com
Dolce & Gabbana Hits First And Hits Hard
Even to the casual observer, it’s obvious that Dolce & Gabbana ’s Collezione Genesi is a well-thought-out project. Their advisors knew what they were doing. As we said, the NFTs come with a digital wearable piece. They also include a handmade sketch of the piece, and, more importantly, access to a community.
As NewsBTC established when analyzing Gary Vee’s Christie’s auction, community and access might be as important as the art when it comes to NFTs. The Dolce & Gabbana team obviously understands that, so they’re offering two crucial items with their genesis collection. 1.- A 3-day pass to Dolce & Gabbana ‘s “Alta Moda couture,“ the brand’s own biggest event for next year. The pass includes access to all the shows and parties. Plus, a private atelier tour. 2.- Membership to the DGFamily NFT community.
For a better explanation of that last item, let’s quote UNXD:
“Dolce & Gabbana will next roll out the #DGFamily NFT community. 4 exclusive levels, including an ultra-exclusive gold level whose inaugural members will be the winners of this Genesis auction. A similar approach to digital + physical + experiential access.”
So, this auction is the first step in a journey of a thousand miles, so to speak. Dolce & Gabbana is all in on the NFT space.
1/8 The bids for the magnificent @dolcegabbana’s NFT collection have reached $2M+! 🔥
This game-changing collection offers items, utilities and experiences that have never been seen in the NFT world before! 💫
The auction for the four digital items ends tomorrow.
A quick 🧵 pic.twitter.com/O6lwIudCXd
— Mihailo Bjelic (@MihailoBjelic) September 27, 2021
High Fashion And NFTs Belong Together
When our sister site Bitcoinist announced Dolce & Gabbana ‘s NFT collection, they made a great point:
“What’s more, high fashion and acquiring expensive items is not about necessity. Rather, it caters to being part of the luxury culture and communicating status. In many ways, NFTs also fit this bill, in that, they too have become indicative of status.”
However, for the fusion to succeed, there needs to be a landmark case. A moment that makes everyone involved see the light. Is this Dolce & Gabbana collection it? Well, it mixes the crypto universe with the real world and it’s backed by a legendary brand, but, is that enough?
1/Bids on the @DolceGabbana x UNXD collection have already crossed 500 ETH (~$1.5M). This collection took an insane 16,000 hours of collective time to create, and the offer is unrivaled (digital, physical, experiential). What makes it so historic? 🧵👇https://t.co/DJnXW8YW5j
— UNXD (@UNXD_NFT) September 26, 2021
According to UNXD, the collection took the creators “an insane 16,000 hours of collective time.” It consists of “9 one-of-a-kind pieces that will never be made again.” So, you know?, it’s rare. Also, “Many of the pieces used creation techniques that are only known by a handful of people alive today. This is museum-grade work.” To top it all off, they promise, “These pieces look and “feel” real and will change how people think of digital assets.”
Related Reading | How Polygon Will Seek To Strengthen DeFi With $2 Million Bug Bounty
That sounds incredible, but, it also opens a question. In what metaverse will they be wearable, exactly? Which one of your digital avatars will you be able to crown with “The Impossible Tiara” or “The Doge Crown”?
Featured Image by NeONBRAND on Unsplash – Charts by TradingView