Dolce & Gabbana sold $5.65 million worth of NFTs in auction

Entering the new segment of non-fungible tokens, the fashion brand made good profit with its very first NFT collection

With its first experience in the NFT world, the luxurious fashion brand Dolce & Gabbana sold nine NFTs leading to a $5.65 million return in an auction made on the UNDX platform. Collezione Genesi features both digital and physical items such as Alta Moda (women), Alta Sartoria (men), and Alta Gioielleria (high jewelry).

The scarcity of the collection gave the NFTs the stamp of exclusivity, generating more value to the pieces. Domenico Dolce, one of the brand’s founders, stated that the goal was to bring tradition and innovation together, as it has always been a solid characteristic of D&G. 

In an interview with Luxury London, Dolce emphasized: 

“We wanted to understand, in an era like this, where there is a new digital generation, how we might be able to talk and have a better dialogue with our experiences, traditions and the handmade, and combine all of this with innovation. Also, tradition has no meaning if there’s no innovation, and vice-versa. Just as there’s no Dolce without Gabbana!”

-Domenico Dolce, D&G founder 

Also suffering from the consequences of the pandemics, the fashion mogul said that it’s time to think about things that really matter and the velocity in which innovation happened, especially during that time, just reinforced the idea of prioritizing what’s best for us. 

“We’re often overwhelmed by the events and the speed with which they happen, by the rules of things like marketing and finance,” he says. “The time has come for everyone to stop and think about what is worth living and working for.”

-Domenico Dolce, D&G founder 

The market of NFTs only grows and many respectful and profitable multi billion dollar companies are investing in the new segment. 

Recently, Tiktok announced a project that is going to sell NFTs of videos with collaboration of great artists and influencers. Also, brands like Coca-Cola and DC Comics have dipped their toes into the NFTs’ waters, bringing even more people to the universe of digital collectibles.

By Maluh Bastos,

Klever Writer and Editor

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