Watch out for cryptofashion: D&G sells 9 NFTs and cashes in $5.7 million

Watch out for cryptofashion: D&G sells 9 NFTs and cashes in $5.7 million

Dolce & Gabbana grossed 5.7 million dollars from its first auction of NFT (Non-Fungible Token) collectibles. Some of them were bought by Flamingo DAO, an organisation that aims to bring together members interested in supporting the growing digital fashion ecosystem. In other words: cryptofashion. Dolce & Gabbana’s proposal included nine digital items: two women’s dresses, one men’s suit, three jackets and three crowns. Some of them were combined with “physical” benefits. For example: a garment, a piece of jewellery or the chance to attend a Dolce & Gabbana show in person.

Beware of cryptofashion

Through UNXD, a specialised marketplace built on the Ethereum network, D&G auctioned off (on September 28-30) some NFTs from the Genesi Collection designed by Domenico Dolce and Stefano Gabbana. As MF Fashion points out, the first concept was entitled Dress from a Dream, and was inspired by the artistic background and tradition of Venice. The result was nothing but explosive (or, in some ways, disturbing): the 9 NFTs raised 5.7 million dollars. But who spent it?

The buyers

Two collectors secured 3 pieces each. One, as we said, is Flamingo Dao, a division of the Red Dao collective specialising in cryptofashion investments. “The digital trend on blockchain is a huge and growing alternative within the ecosystem,” Red DAO member Megan Kaspar told Cmnnews. Another buyer is Pranksy, known to be one of the most active NFT collectors.

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