Heritage brands Gucci and Playboy want in on Ethereum NFT frenzy

CryptoSlate

Gucci and Playboy, two of the world’s biggest heritage fashion brands, are jumping in on the non-fungible token (NFT) trend, buoyed by the latter’s rise in recent months.

Jumping into NFTs

NFTs, for the uninitiated, are blockchain-based representations of tangible or non-tangible objects that prove their holders are the true owners of whichever underlying assets they back. These can include digital art, crypto-collectibles, and other tokenized embodiments of real-world assets.

How To Get Free Crypto  

Gucci and Playboy are targeting just that. The former is a luxury fashion house aimed mostly at women, while Playboy is an American men’s lifestyle brand. They were launched in 1921 and 1953 respectively and are trying to appeal to younger audiences with their upcoming NFTs.

“We’re excited to announce a new partnership with Nifty Gateway, the premiere platform for NFT art,” tweeted Playboy this morning. “Our entry into NFT art builds on Playboy’s long history of providing a platform for artists and creative self-expression.”

The firm said its first NFT drop would be a collaboration with digital artist ‘Slime Sunday.’ It added that more curated NFT collections would be released at later dates from its ‘70-year archive of art and photography.’

“We are thrilled by all of the innovation and access the blockchain can bring, and a big piece of our work will be supporting artists as a collector and via upcoming grants,” it stated.

Coinbase Banner  

The drop would be available on NFT marketplace Nifty Gateway, a part of the Winklevoss twins-owned crypto exchange Gemini.

Gucci gang

Gucci, on the other hand, is yet to launch any NFTs but confirmed its interest in a statement over the weekend. “It’s only a matter of time,” the firm said, when asked by lifestyle outlet Vogue Business about its involvement in the NFT market.

Marjorie Hernandez, founder of Lukso, a blockchain platform that works with fashion brands, explained the move, “Luxury brands were behind on the e-commerce trend, so there’s now more of a willingness to experiment with new technologies like blockchain.’

She added, “The question is just who will pull the trigger first.”

The NFT market has grown from a $200 million niche in 2019 to an over $25 billion behemoth at press time—seeing celebrities, pop stars, forgotten crypto projects, and other opportunistic firms alike issue their own digital art to flip to the public at oft-expensive prices.

But given the likes of Gucci and Playboy plotting moves into the market, the frenzy could just be starting.

Explore NFT Coins on CryptoSlate.

Get an edge on the cryptoasset market

Access more crypto insights and context in every article as a paid member of CryptoSlate Edge.

On-chain analysis

Price snapshots

More context

Join now for $19/month Explore all benefits

Like what you see? Subscribe for updates.

Go to Source
Author: Shaurya Malwa


Recommended Crypto Services, Products and Strategies:

The first thing any crypto investor needs is is a reliable and secure Crypto Wallet.  Whether you’re looking for an online wallet, hardware wallet, desktop or mobile wallet, Crypto Renegade provides you with all the Best Crypto Wallets in each category.

Best Crypto Wallets Banner

When you’re ready to buy more crypto, or exchange your coins for others, Crypto Renegade’s list of the Best Crypto Exchanges has you covered.  The Crypto Exchanges recommended here offer everything from simplicity and convenience to advanced trading platforms and profit sharing. 

Best Crypto Exchanges Banner

If you want to learn more about the methods and tools that can be used to find Great Crypto Projects, then be sure to check out Crypto Renegade’s strategy for How To Find The Best Cryptocurrency.

Crypto Strategy Banner

For those people that don’t have any money to invest right now, or just want to understand the technology a bit more, you’ll definitely want to check out Crypto Renegade’s Free Crypto Strategy and start collecting Free Coins today!

Free Crypto Banner

What do you think about cryptocurrency? Do you have any questions about it? Be sure to leave a comment below.

This site uses Akismet to reduce spam. Learn how your comment data is processed.