Fashion and cryptocurrencies continue to go hand-in-hand, with major brands making a new push in the industry. Balmain and Burberry are thus the latest fashion houses to explore the metaverse and non-fungible tokens (NFT).
Burberry, a British luxury fashion house, is closing a deal with Blankos Block Party from Mythical Games to design his own metaverse. This new partnership will add characters and game objects to Blankos Block Party.
New luxury brands are joining the NFT trend
Last year, Burberry collaborated with Mythical Games to release a character named Sharky B from its Burberry brand, along with matching accessories. This year, the fashion giants are planning the release of a unicorn-like character named Minny B. According to available reports, the character will bear the Burberry signature and be equipped with accessories such as a radio and a chain in made of horseshoes.
Burberry’s metaverse takes the form of a floating virtual oasis and is set to launch this June 22. Existing owners of Burberry merchandise within the game will get early access to rare items, including free digital “bob” style hats already planned for owners of Sharky B, the character launching in 2021.
Rachel Waller, senior executive at Burberry, said: “We’re in a learning phase, so there’s immense value in how we learn to engage with the community and new designers, and how that relationship evolves. An immense amount is measured in terms of learning time. This is where the partnership becomes really important for us.”
Jamie Jackson, co-founder of Mythical Games, hailed the partnership which will help the luxury brand attract new customers. “We know that our consumers, especially younger ones, are still very interested in this medium,” Jackson said.
Balmain takes the lead with its own tokens
Balmain, a famous Parisian luxury brand, also launched into NFTs in collaborating with Jeff Cole, to create an artwork for the new Balmain Unicorn sneakers. NFTs are intended for use as part of a sneaker marketing campaign. These creations will make their debut at the NFT.NYC conference in the Balmain store on Madison Avenue.
Olivier Rousteing, the creator of the shoes, said he was delighted with Jeff Cole’s NFTs. “I couldn’t be happier with the final work. Jeff clearly understood that the spirit of our new unicorn has much more to do with the legendary creature’s elusive beauty and rare strength than with any literal interpretation of its form,” he said.
Gucci, for its part, extended its partnership with Roblox and revealed its plans to collaborate with The Sandbox, which is trying to regain its footing in the face of the crisis in the crypto sector. Balenciaga and TAG Heuer have also joined the exclusive list of fashion brands that have started accepting cryptocurrencies as payment in their stores.
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Despite the crisis, luxury brands continue to launch into the metaverse and NFTs – BeinCrypto International
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