The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
The LVMH-owned luggage brand will auction four digital artworks on May 18 amid surging interest in the market for Non-Fungible Tokens, or NFTs. The one-of-a-kind digital assets have emerged as a hot commodity, with consumers willing to pay millions to acquire the blockchain-secured virtual items.
In March, design studio RTFKT and digital artist Fewocious generated $3.1 million off of 621 pairs of NFT shoes, leaving consumers wondering what the rise of these digital assets could mean for fashion.
Rimowa said it is the first luxury travel brand to create a collection of NFTs, partnering with multidisciplinary design practice Nuova to develop four images of a food cart, lamp, sound system and table that incorporate design features from the brand. The pieces will be sold on NFT marketplace Rarible and the proceeds will go to the artwork’s creators and a charity focused on humanitarian issues, Rimowa said.
The Opportunity in Digital Fashion and Avatars Report — BoF Insights
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BoF Insights’ guide to digital assets in fashion, which examines the rise of the metaverse and underlying technological, social and consumer shifts, plus includes a playbook for how to seize the opportunity. To explore the full report click here.
The Opportunity in Digital Fashion and Avatars is the in-depth report published by BoF Insights, a new data and analysis think tank from The Business of Fashion arming business leaders with proprietary and data-driven research to navigate the fast-changing global fashion industry.
The app, owned by TikTok parent company ByteDance, has been promising to help emerging US labels get started selling in China at the same time that TikTok stares down a ban by the US for its ties to China.
Zero10 offers digital solutions through AR mirrors, leveraged in-store and in window displays, to brands like Tommy Hilfiger and Coach. Co-founder and CEO George Yashin discusses the latest advancements in AR and how fashion companies can leverage the technology to boost consumer experiences via retail touchpoints and brand experiences.
Four years ago, when the Trump administration threatened to ban TikTok in the US, its Chinese parent company ByteDance Ltd. worked out a preliminary deal to sell the short video app’s business. Not this time.
Brands are using them for design tasks, in their marketing, on their e-commerce sites and in augmented-reality experiences such as virtual try-on, with more applications still emerging.