Michael Kors Launches NFTs on Metaverse: A Fashion Brand’s Digital Expansion

MetaversePlanet December 6, 2022Last Updated: August 15, 2024

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NFTs have sparked significant interest and many companies are leveraging this technology to expand their brands. The fashion industry is actively participating in this digital revolution.

American fashion brands like Coach and Michael Kors, along with other designers, are increasingly exploring the metaverse to enhance their brand presence.

As the end of the year approaches, it would be interesting to see which new projects these fashion houses will unveil in the metaverse.

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Who Are the American Fashion Designers Rushing For NFT?

Michael Kors Is Launching NFTs On Metaverse

The integration of metaverses and NFTs by fashion brands and designers is a strategy to enhance brand visibility. In a notable initiative, the Council of Fashion Designers of America (CFDA) hosted a retrospective on the metaverse platform The Sandbox as part of their 60th-anniversary celebration.

This exhibition showcased 60 iconic American fashion looks from the past six decades. Included in this retrospective were purchasable NFTs under the theme “Fashioning the Shades of American Design.”

In response to the intense competition within the fashion industry, seven renowned brands have positioned themselves for international product development. These include illustrious fashion houses such as Coach, Michael Kors, Tommy Hilfiger, Vivienne Tam, and Willy Chavarria.

Each of these luxury brands has created its own unique NFT. These NFTs were scheduled to be released on December 12, a week before the opening of the exhibition, marking a significant moment in the intersection of fashion and digital innovation.

What Do American Fashion Designers Offer Through NFTs?

Fashion brands exploring NFTs for their projects are adding unique benefits that go beyond the ordinary digital offerings. For instance, Diane von Furstenberg is providing her clients with a range of exclusive perks through her NFTs. These include a personalized physical wrap dress, an invitation to the opening of a DVF exhibition in Brussels in April 2023, a preview of upcoming collections, and even a personal meeting with Diane von Furstenberg herself.

Similarly, Michael Kors and Vivienne Tam are offering access to their fashion shows and exclusive backstage experiences. Tommy Hilfiger’s NFTs include an all-expenses-paid trip to his next fashion show, along with products from Hilfiger. Coach is going a step further by incorporating NFTs that grant a tour of the company’s archives, access to exclusive events, and a physical handbag.

These NFTs were developed in collaboration with the fashion platform NFT Brand New Vision (BNV). They will be available for purchase in a special auction scheduled from December 12 to 16. It’s noteworthy that the starting bids in these auctions are reflecting the high value of these NFTs, with prices ranging from $15,000 to $25,000.