Fashion’s burgeoning love affair with the NFT space has been very interesting, to say the least. Louis Vuitton has infused NFTs into its mobile game, supermodel Bella Hadid has released her own NFT collection, and so has Prada. With how quickly the fashion industry has embraced digital assets, we seem to get a new announcement every other week.
The latest has come from the luxury fashion brand Salvatore Ferragamo. Unlike some of its predecessors, Ferragamo’s entry into the NFT space was launched in the material world. This comes in the form of an NFT booth at its concept store in New York.
So what does this NFT booth do? Can you buy NFTs directly? Is it purely for aesthetic purposes? Well, as per reports, this NFT booth lets users mint their own NFTs from the Ethereum blockchain.
These NFTs can be based on different traits and are free for users to mint. The only catch is that there are only 256 NFTs that can be minted in total. This new project was created as a collaboration between Ferragamo and Shxpir, a digital artist who has worked with the brand in the past.
How this booth works is that users can enter a dedicated space and then choose from a number of Shxpir’s designs which are then used to create a custom NFT. The user gets both the NFT they have designed and a video of them creating it.
This ability to customise the NFT was very important, according to Daniella Vitale, the North America CEO for Ferragamo.
“One of the key aims we set out to achieve with the NFT project was to make it an inherently personal experience. We know that the world of Web3 can be somewhat intimidating. As such, this project has been conceptualized in a way that demystifies the system. Even if you’re not experienced in NFTs or if you don’t have a wallet, we’ll guide you through the steps required,” she said.
This booth is perhaps one of the more unique applications of NFTs by a fashion brand. Many fashion stores already have booths and screens that allow users to customise and then buy clothing but letting people create NFTs on the spot and then get them is a whole other thing.
Needless to say, this will go a long way towards normalizing NFTs for a lot of consumers.
While many of us know what NFTs are, most of us have never interacted with one or have ever thought of creating an NFT. As far as most of us are concerned, they are abstract concepts and not ‘real’.
But what is more real than a thing that you create yourself? If people are able to create NFTs as easily as they can customize jeans in a clothing store, NFTs are seen as more real than ever before and this can lead to more adoption.
If this catches on, you can get a freshly-minted NFT right alongside your latest Ferragamo clothes.