Vogue Ukraine Launches NFT Initiative

Both the Ukrainian government and private entities have gotten themselves involved with NFTs in the last year, mostly to raise funds to support the troops or for relief efforts. All of these have been a result of the ongoing Ukraine-Russia conflict. But it seems that they are not the only ones as Vogue Ukraine has announced a new NFT project. 

As per official details released to the press, the Ukrainian edition of the iconic magazine is teaming up with  NFT marketplace The Dematerialised (DMTA). This partnership will be in support of the local fashion industry in the country which has been negatively affected by the war but is still trying to preserve. 

Fashion, NFTs, and Ukraine

This support for the fashion scene will see the magazine support the works of Bevza, Gudu and Ienki Ienki, who are all Ukrainian fashion designers. They are also to debut their designs on September 28, 2022, at Paris Fashion Week. After the designs are shown, they will then be turned into NFTs which will be listed on The Dematerialised for purchase by fans. 

This not only drums up more publicity for the designers but also makes sure that they have multiple streams of revenue, given the current situation. There are also plans for the works of other Ukrainian designers to be added eventually. 

​​“This drop in collaboration with DMAT is our first endeavour in the metaverse, where we intend to establish a strong presence. Helping the Ukrainian fashion industry survive and endure during these troubled times is a part of Vogue UA’s revised mission,” says Vogue Ukraine editor-in-chief Philipp Vlasov. 

This is not the first time that The Dematerialised has launched fashion-related NFT projects. Previously, it had launched a collaboration with Karl Lagerfeld which was very successful and overall, has worked to bring the fashion world into web3. 

According to  Marjorie Hernandez, DMAT’s co-founder, this sort of project not only empowers the designers themselves but also gives fashion fans an intimate look at the process behind top pieces. Whenever anyone buys the pieces from this collaboration, they can tag the Vogue Ukraine team on social media and potentially be added to a gallery of people wearing the designs. 

It is not unusual for fashion and consumer brands to post user-generated content on their social media pages. But considering the NFT medium being used and the deliberate support for the designers, this takes things to a whole new level. 

It also reiterates the Vogue Ukraine team’s commitment to supporting its industry even in a time of war. As Vogue Singapore explains, the team was physically separated when the war broke out but nevertheless, continues to create. 

“We’re focused on our digital presence, producing helpful and inspiring content to give strength to Ukrainians while offering some insight to the world on the country someone dared to say had no right to exist. We won’t lose hope. Justice must prevail,” said Vlasov, who remains in exile while leading the team, earlier this year.