April 21, 2021

Gucci and other luxury brands to launch their own NFTs

One of the blockchain-based platforms is preparing to release non-fungible tokens that will tied to collectible garments.

Italian fashion house Gucci and other luxurybrands are planning to issue their own NFT tokens. This is reported by Vogue Business with reference to Marjorie Hernandez, founder of the Lukso blockchain platform, which collaborates with high fashion. Luxury brands have fallen behind e-commerce trends and now want to work with blockchain, Hernandez said.

Neuno, a platform for collecting fashionitems, is already working with five luxury brands to create non-fungible tokens. According to Neuno CEO Natalie Johnson, platform users do not need to own cryptocurrency to buy NFT - transactions can be made using a regular bank card.

The Neuno platform is powered by the Flow blockchain.

In early April, a decline in the market was recordednon-fungible tokens. NFT, on average, fell 67% versus the February level. On April 4, the average price of a token on the Nonfungible platform was $ 1.4 thousand.In March, it rose to $ 3.6 thousand, and in February it reached $ 4.3 thousand.