How else to explain the brand's announcement on Sept. 30 that a nine-piece exhibition of electronic NFTs, as well as some actual couture, had auctioned for a total of 1,885.719 Eth., or nearly $5.7 million.
Because the compensation to Dolce & Gabbana would be made at market prices, the cryptocurrencyâs significance has surged since the news up 10% as of Friday giving rise to the exhibitionâs value to $6.1 million đ˛. Pranksy and Seedphrase, two prominent NFT collectors; Boson Protocol, and Red DAO.
âThese prices are not surprising,â explained Nick Jushchyshyn. âYou have world-renowned designers creating something absolutely unique, with attention to detail â it is beyond what you expect to see in a typical digital rendering â and itâs a one of one. It makes perfect sense that there would be an NFT collector in the world who would value it.â
Merav Ozair, a leading expert on blockchain and FinTech professor at Rutgers Business School, concurred. âI thought it would come sooner,â Dr. Ozair said. âWe are moving toward a virtual reality world, and when we get to that state â sooner than we think, in a matter of years â luxury goods will be part of that world.â
Five of the articles were physically creations, designed and fulfilled by Dolce & Gabbana, with virtual iterations for the metaverse: two editions of The Dress from a Dream, in gold and silver, both with beads and crystal accents; The Glass Suit, an emerald green menâs suit, likewise embellished; and two gold-plated and gem-studded silver crowns, called The Lion Crown and The Doge Crown.
The four other articles were exclusively digital: three richly embroidered menâs jackets and The Impossible Tiara, made of âgems that canât quite be found on Earth,â as Dolce & Gabbana explained on Twitter. Based on sketches by the brandâs designers, Domenico Dolce and Stefano Gabbana.
What is Polkally?
Polkally is a robust P2P auction platform for NFTs (non-fungible tokens) based on IPFS and several credible networks which makes it possible for anyone to trade art freely. The core value is providing a truly decentralized marketplace aimed at bridging technology and art enthusiasts together. Polkally is designed for NFT art trading.
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