Dolce & Gabbana
Dolce and Gabbana was the first fashion house to release an NFT collection in October of 2021.
The sale generated $6m in revenue, and consisted of only 9 NFTs.
The NFT collection consisted of 5 NFTs that were accompanied by custom physical pieces. The remaining 4 NFTs were digital only.
The five physical creations were designed and executed by Dolce & Gabbana, with virtual iterations by UNXD for the metaverse: two versions of The Dress from a Dream, in gold and in silver, both with shimmering beads and crystal accents; The Glass Suit, an emerald green men’s suit, similarly embellished; and two gold-plated and gem-studded silver crowns, called The Lion Crown and The Doge Crown.
The four other pieces were solely digital: three richly embroidered men’s jackets and The Impossible Tiara, made of “gems that can’t quite be found on Earth,” as Dolce & Gabbana explained on Twitter. Based on sketches by the brand’s designers, Domenico Dolce and Stefano Gabbana, they were constructed by UNXD, using the Polygon blockchain.
The promise of D&G experiences, including invitations to future Alta Moda events, were included with each sale.
The physical items were displayed in an ornate salon of Venice’s 17th-century casino during the Alta Moda event. UNXD opened the auction Sept. 21, and it ended progressively between Sept. 28 and Sept. 30.
The highest price was paid for The Doge Crown, an opulent headdress with seven blue sapphires and 142 diamonds, which went for 423.50 Ether, or $1.25 million at the time of the auction, bought by Red DAO. Aaron Wright and Megan Kaspar, two members of the group, described the auction in an email as “a ‘big bang’ moment” for fashion NFTs.
The test was so successful that D&G now regularly releases NFTs collections.
The Impossible Tiara
Detail from the Impossible Tiara
