Dolce & Gabbana generates $5.7M in 1st NFT collection sale
Luxury fashion brand Dolce & Gabbana has concluded the sale of its first fashion NFT collection on the 30th, amassing nearly $5.7 million worth of ETH.
The collection, consisting of nice NFTs, was unveiled on UNXD, a luxury marketplace built on the Ethereum layer 2 Polygon network.
The NFT collection was designed by Dolce & Gabbana co-founders and designers Domenico Dolce and Stefano Gabbana. Bidding started on September 28th and ended on September 30th.
Digital fashion DAO, Red DAO, dominated the auction after winning the bid for “The Doge Crown” NFT which the DAO paid 423.5 ETH, or $1.27 million. Afterward, the DAO made two other winning bids for two purely digital “impossible” jackets.
Megan Kaspar, a member of Red DAO and managing director of crypto investment firm Magnetic, told crypto news media Decrypt:
“Digital fashion on the blockchain is a massive emerging opportunity in the ecosystem. Flamingo’s deep insight brought about the incubation of Red DAO, which focuses on fashion NFTs.”
“The Glass Suit” was sold for 351.384 ETH (roughly $1 million) and The two versions of “Dress in Dreams” were each priced for $500,000.
Winners of the NFTs also received physical versions of the items purchased with special rights to access Dolce & Gabbana events.
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