Dolce & Gabbana Sets $ 6 Million Fashion NFT Record

The parts commanded such high prices, Mr. Menon said, because of “provenance; rarity – there were only nine, sold at a time; Arts and crafts; and utility – people can use them in the metaverse and have physical experiences, too. In the next few days, he added, UNXD will convert prices to US dollars at the market rate and pay Dolce & Gabbana, less an auction commission.

Pranksy (a play on Bansky) wrote in an email Saturday: “I was really excited about D&G entering the NFT space, especially since my wife, Magpie, and her close friend, one of my company directors, Josephine Dwyer-Mann, have a real passion for haute couture. Like many wealthy crypto natives, Pranksy keeps his real name a secret and would only communicate via email or voice-distorted Zoom.

He bought the virtual Golden Impossible Jacket only for 99.99 Ether; the Impossible Tiara, only virtual, also for 99.99 Ether; and The Dress from a Dream: Silver, which is digital and physical, for 188.1 Ether, and The Dress from a Dream: Gold, which is also digital and physical, for 225.5 Ether. (A fashion enthusiast himself, Pransky said he wore “a Versace shirt and scruffy jeans” as he answered written questions from an undisclosed location in Britain.) “The NFTs in fashion have enormous potential, especially when linked – as D&G has done – to the physical, ”he wrote.

For its part, Seedphrase (whose name is Danny Maegaard, an investor in Brisbane, Australia) paid 292.82 Ether for The Lion Crown, which Dolce & Gabbana based on the flag and coat of arms of Venice. “It invoked my deep love for the city of Venice,” Seedphrase said by email Sunday. “Being the first NFT collection from any major fashion house, it made a lot of sense from an investment standpoint as I anticipate these pieces will rise in value.”

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