NFT game is in progress. Dolce & Gabbana joins
Industry News
The world-known fashion brand Dolce and Gabbana joins the fast-growing trend, non-fungible tokens. The brand is going to issue an NFT collection in partnership with UNXD, a luxury marketplace.
Non-fungible tokens will be released on the Polygon Network base. The release is expected to take place in August before a series of fashion shows in Venice. It was revealed that the first D&G NFT collection was named Collezione Genesi.
Non-fungible tokens are exceptionally effective from the viewpoint of connecting the crypto world with art. Despite the spring decline of the crypto market, NFTs are on the rise, attracting crowds of artists, fashion designers, sportsmen, etc. Dolce and Gabbana is not the fashion pioneer on the NFT path. Furthermore, Gucci is allegedly to join the trend at the upcoming Paris Fashion Week.
As for the NFT market capitalization, the mark of $19 billion has already been conquered, and the industry is going towards new peaks. ‘CryptoPunks’ is still the most expensive NFT collection on the market. The cost of 10 000 tokens equals $390.37 million.
On the other hand, experts call NFT tokens undervalued assets, as the community associates non-fungible tokens with digitized versions of art. Rather, NFTs are able to revolutionize ownership rights protection, serving as an effective measure to resist the violation of intellectual property rights. Such tokens have great potential, and crypto-related companies are working on opening new horizons for NFTs.
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