The Disruptive Idea Behind Prada’s New Timecapsule NFT Collection With Damien Hirst’s Son
Prada has unveiled the next move in its developing Web 3.0 strategy.
The Prada Timecapsule NFT Collection launching June 2 marks an evolution of the brand’s preexisting Timecapsule initiative established in December 2019. The monthly, online event, which takes place on the first Thursday of every month, features an exclusive and ultra limited edition item drop on Prada’s website, available for 24 hours only.
However, the June 2 drop is different. Its 100 gender-neutral shirts, designed in collaboration with artist Cassius Hirst, son of Damien Hirst, come with a gifted NFT — a GIF featuring the unique serial number of the corresponding physical item. The price won’t be announced til the day of the drop but, for the record, it will be in Fiat currency as opposed to crypto.
But here’s where the idea gets even more disruptive. In a second phase, all the people who have bought into the physical Prada Timecapsule from its launch in 2019 will also all be gifted corresponding NFTs.
NFT utilities will be revealed in due course via Prada Crypted, the brand’s new community server on Discord, live as of today. Although said NFTs are being gifted, holders have the option to sell them at secondary market.
While many brands — luxury or otherwise — are scrabbling to join the conversation around the NFT and metaverse space it can often just be a case of checking a box.
Plus, primary focus tends to be acquisition of new Web 3.0 native clients — rewarding those who are ‘early’ with white list spots and the like.
Prada, however, has turned this idea on its head. Rather than targeting a new market, Prada is rewarding its already loyal and more traditional clients who have supported it from the outset, integrating its NFT strategy into a pre-established physical initiative at the same time.
Gucci too is seeking to combine past and future with its online concept store Gucci Vault, but the strategy is very different. Gucci Vault runs in parallel with the brand’s ongoing metaverse programming. For instance, Gucci Vault is currently selling vintage versions of its archive-inspired Blondie bag while digital versions of said bag are on offer at its new Gucci Town destination on gaming platform Roblox.
Gucci is very much targeting Web 3.0 natives already entrenched in the gaming community. According to Vogue Business, the digital bags will be available to buy in Roblox for a week in June but only after users have played 100 mini-games, created 45 art pieces, voted on 100 art pieces and completed 18 daily treasure hunts. While this certainly increases engagement and prevents speculators from simply buying to flip, it appeals to a different type of consumer.
Gaming industry aside, the metaverse related projects with longevity are those that offer real utility, have brand and creative integrity and appeal to a clientele that was around long before anyone had heard of an NFT and will remain after the hype has faded.
Prada’s gifting strategy is additionally a way of onboarding metaverse refuseniks or simply those who wouldn’t naturally gravitate towards new Web 3.0 related technology. It’s a smart approach also adopted by Philipp Plein.
Plein maintains that Web 3.0 will only become truly successful once it is widely adopted and to this end he is gifting NFTs with physical product.
By September, he says, 30% of his products will be automatically linked to an NFT. Like Prada’s these can either be kept or resold on the secondary market.
Prada’s Timecapsule NFT project is built on the Ether ETH -5.9%eum blockchain leveraging the technology of the Aura Blockchain Consortium. Along with LVMH and Cartier, Prada Group was a founding member of the luxury industry dedicated Aura which uses blockchain based technology to address issues including those of authenticity, ownership and traceability.
Prada re-source, Prada’s first foray into NFT culture in January took a similarly disruptive approach. The community sourced art project in collaboration with adidas Originals and the artist Zach Lieberman featured user-generated content and creator-owned art.
This new Prada Timecapsule drop follows Cass x Prada, Cassius Hirst’s recently launched reinterpretation of the Prada America's Cup sneaker. The Timecapsule shirt features Hirst's signature mask and brain scan designs.
（Source of News: https://www.forbes.com/sites/stephaniehirschmiller/2022/05/30/prada-launches-timecapsule-nft-collection-with-cass-hirst/?sh=49d6331f43db)
The Official Launch of OneLoveChain.io
OneLoveChain.io is the pioneer platform that is marketed as the first bespoke NFT gifting platform in Asia. OneLoveChain.io offers the Web 3.0 solutions by applying Blockchain technology into personalized gifting that stores precious memories and contents immutably and eternally. It's the alliance between emerging market opportunities arising out of NFT and Love economy and this is where Love meets Blockchain.
The NFT platform’s vision is to bring love industry into NFT economy. In addition, it manages to align the checkout experience with the mission to bring Blockchain and NFT to everyone’s daily lives by eliminating the hassle of involving cryptocurrency for payment. The platform allows clients to pay by credit without having to be burdened by gas fee or volatility in crypto prices. OneLoveChain wishes NFT gifting will become the new norm of gifting in love economy while OneLoveChain stands as the pioneer in this sustainable market niche.
Visit onelovechain.io to explore more this web3.0 way of gifting!
Bulgari’s exclusive watch to include NFT
Luxury jewelry brand Bulgari is launching an exclusive watch limited to ten editions. Each watch will have a QR code engraved that, when scanned, yields access to a unique non-fungible token (NFT) representing digital art.
The watch, Octo Finissimo Ultra, claims to be the thinnest mechanical watch in the world, measuring only 1.8mm in thickness. The technology involves innovative processes and equipment that highlight the watch’s futuristic positioning, which is enhanced by the integration of NFTs.
Besides the digital artwork, the NFT that’s accessed through a watch’s unique QR code also serves as a method of authentication. At a limited supply of ten and a cost is $440,000 (according to Gizmodo), it could be a magnet for counterfeiters. As such, scarcity and product authenticity must be protected to maintain the watch’s value, and NFT technology facilitates this.
Other luxury watch brands such as Breitling and Hublot have used similar technology to ensure product authenticity, mostly through the use of blockchain to implement digital passports. The passport technology is also an NFT but was previously used for functional rather than creative NFT applications.
On the other hand, Bulgari is making full use of the opportunity to tie creative content to the watch. Besides the NFT artwork, the QR code also gives access to information regarding the history, concept, design, and manufacturing process that underpin the watch’s production.
“This fabulous benchmark that we are setting today with the Octo Finissimo Ultra is in fact for me and for all the teams an apparently impossible dream to come true,” said Bulgari’s CEO Jean-Christophe Babin. “One that guarantees that Bulgari will forever be recognised as a company that has written some of the finest pages in Swiss watchmaking. And the fact that this is an Italian house makes us particularly proud.”
The launch is in partnership with the LVMH founded AURA blockchain consortium, which focuses on initiatives that use blockchain technology to fight counterfeiting in the luxury goods market as well as proof of sustainability. It recently announced plans to get involved in creative NFTs, and Temera, Luxochain, and Polygon Studios were also involved in the Bulgari project for that aspect. Hence there were two separate smart contracts, one on Aura’s private permissioned blockchain network and the artwork one on the public Polygon blockchain.
Bulgari is part of the LVMH luxury consortium, which until now, had not engaged much in NFTs beyond authenticity except for Hennessy, which sold exclusive cognac through NFTs. Yet, the opportunities in the industry will likely make it inevitable for other brands to soon get involved.
A report on luxury goods and the metaverse carried out by Morgan Stanley estimated that by 2030 metaverse gaming and NFTs could account for 10% of luxury revenues (equivalent to €50 billion or $60bn) and contribute towards 30% of profits.
Outside of fashion, “luxury cars” are heavily involved with creative NFTs. Lamborghini launched NFTs linked to space exploration, and McLaren is planning to launch luxury car NFTs with InfiniteWorld.
(source of news: https://www.ledgerinsights.com/bulgaris-exclusive-watch-to-include-nfts/)
Adidas Among First to Lean Into TrusTrace ‘Material Compliance’ Software
Today, Stockholm-based SaaS company TrusTrace announced the launch of its new blockchain-based solution for supply chain traceability – TrusTrace Certified Material Compliance. The company has an existing product traceability and supply chain transparency platform and considers its new innovation a one-stop-shop solution for material compliance. Sports brand adidas is one of its first adopters and provided early input into its development in line with the company’s ambitious sustainability goals for the coming years.
Globally, the fashion industry produces almost four times the environmental impact of the airline industry, with 8% of global greenhouse gas emissions emanating from the production of apparel and footwear. The unsustainable ways in which fast fashion is produced is one of the leading causes of climate change. A lack of regulation and unchecked greenwashing from major companies only exacerbates its environmental impact. TrusTrace Certified Material Compliance aims to combat misinformation and improve transparency and traceability within the fashion industry.
“In the midst of global greenwashing and challenges with unsubstantiated claims, brands and regulators are moving quickly to instill confidence among consumers that products are, indeed, as sustainable as they claim to be,” said Shameek Ghosh, CEO of TrusTrace. “Brands that want to establish near real-time traceability at the lot level by mapping the movement of raw materials to finished goods – and automatically calculate the sustainability metrics of those goods – now have a proven solution in TrusTrace Certified Material Compliance.”
The solution provides a lot of information about a product’s material composition and supply chain transactions in one single place. Examples of the processes it can track are the calculation of material waste, a product’s origins, and the documentation of the percentage of certified vs non-certified material content. Hence brands can demonstrate their compliance with national and international standards and regulations.
TrusTrace developed its technology using a combination of AI, blockchain, IoT and software automation. This allows near-instantaneous updating of garment information, as well as the assurance that the details are immutable, traceable, and transparent. Other brands that TrusTrace has worked with include Fjällräven, Decathlon, Filippa K, and Coop.
In October, the startup raised a $6 million Series A funding led by Industrifonden and Fairpoint Capital. Fashion for Good is also a supporter.
Meanwhile, other fashion traceability solutions that use blockchain include TextileGenesis used by the Cotton Trust Protocol, Aware adopted by the Denim Deal initiative and a blockchain sustainability initiative adopted by the UK Fashion and Textile Association in association with several fashion retailers.
(Source of News: https://www.ledgerinsights.com/adidas-adopts-blockchain-solution-trustrace-for-sustainable-materials/)
Fashion Giant Gap Launches Gamified NFTs on Tezos
The Gap is the latest clothing brand to jump on the non-fungible token (NFT) bandwagon by teaming up with InterPop to launch its first collection on Tezos.
The San Francisco-headquartered retailer said Wednesday it’s rolling out a gamified digital experience allowing customers to purchase a limited-edition Gap hoodie.
Gap’s NFT collaboration is designed by Brandon Sines, the artist behind Frank Ape, a cartoon mythical creature, and will be built on the Tezos blockchain.
Pieces can be purchased via the Gap NFT website and will go on sale Jan. 13 for 2 XTZ each (about $9 at press time) until Jan. 15. There will be more Gap NFT drops throughout January, the firm said in a press release.
In an attempt to give Gap customers a more digital experience, the brand said it will gamify the experience by allowing them to collect Gap hoodie digital art at different levels. Participating users will be able to collect digital art by Brandon Sines and a physical Gap x Frank Ape by Sines hoodie.
“Gap has always been at the intersection of music, art and culture, so we are excited about this growth opportunity in the digital space with artists like Brandon Sines,” Chris Goble, Gap’s chief product officer, said in a press release.
In August, the British luxury fashion brand Burberry launched its NFT collection in partnership with Mythical Games. The Burberry NFTs featured items via Blankos Block Party, a game with digital vinyl toys known as Blankos that live on the blockchain.
Read more: Dolce & Gabbana’s NFT Collection Said to Attract Bidding Interest From DAOs
Following Burberry, the Italian haute couture fashion label Dolce & Gabbana teamed up with luxury marketplace UNXD built on Polygon, to launch its Collezione Genesi NFT collection, which fetched approximately $5.65 million.
In 2020, Gap faced supply chain issues, losing $300 million in sales and reporting net sales of $3.9 billion for the quarter ended Oct. 30, the Wall Street Journal reported.
Gap is doing everything it can to stay relevant and attract a younger demographic. Most recently the brand signed a deal with rap artist Kanye West to launch a new clothing line called Yeezy Gap.
(Source of News: https://www.coindesk.com/business/2022/01/12/fashion-giant-gap-launches-gamified-nfts-on-tezos/)
Hennessy Enters The NFT Space With $226,000 Release
Hennessy is creeping its way into crypto. The LVMH-owned Cognac brand has released its first NFTs, priced at $226,450.
Each will represent physical and digital ownership of the first and last bottles (1 and 250, respectively) of Hennessy 8, a limited-edition expression from the Cognac house.
The bottles and assets will be sold to a single buyer on the spirits NFT platform BlockBar on January 12th. Pricing is at 70.47 ETH (approximately, or $226k USD).
The liquid itself honors the legacy of 7 of the house’s master blenders, combining one eau-de-vie from each generation of blenders and presenting it in a limited-edition, ultra-luxury formatting.
The physical attributes includes a commemorative sculpture and a Baccarat-blown and engraved carafe, along with a pipette, cork holder and chest designed by Arik Levy and made with oak staves from La Sarrazine, the Hennessy cooperage. 4 tasting glasses originally designed 30 years ago by George Riedel and Yann Fillioux have been reissued for the occasion. A personalized authentication plate and numbered certificate wrap up the physical package.
Let’s be clear: you can drink this Cognac (if you can pony up the funds). The BlockBar platform stores the physical bottle for free. If you buy it, you’re issued a digital version of the bottle that serves as a verification of ownership, proof of authenticity and the right to have the physical bottle delivered upon request.
“If you own the NFT, you own the underlying physical asset—often held in custody by a trust company,” explains BlockBar co-founder and President Sam Falic.
When the buyer purchased the non-fungible token (NFT), they claim ownership of the bottles themselves, with a cryptographic version being held by BlockBar. The buyer can redeem the physical product or trade the NFT version in the digital BlockBar marketplace. “Each token is proven to be scarce, non-interchangeable and authentic,” he continues. “Once the physical asset is redeemed from the vault, the token is burned.”
In 2021, the NFT market generated over $23 billion, a huge jump up from the $100 million in trading volume recorded the year prior.
BlockBar launched in October 2021 and has since found much success offering up ultra-rare bottles to crypto-savvy collectors. “Our launch release of 15 bottles with Glenfiddich sold out in 4 seconds and since that release, a few bottles have been resold,” says Dov Falic, co-founder and CEO of BlockBar. Some flipped bottles of the 21-year-old, Armagnac-aged cask Scotch commanded lofty prices of up to $288,000, according to PUNCH.What does that mean for the spirits industry?
Though NFTs live in the digital space, Falic and cousin Dov find NFTs offer real-life answers to many of the spirits industry’s current pitfalls. “Asset-backed NFTs are both the most secure way to protect a liquor collection, and serve as a hedge against the market,” says Falic. “At BlockBar we only partner directly with brand owners, such as Hennessy, and therefore the NFTs serve as a digital certificate of authenticity, eliminating any concern for counterfeits.”
While the NFT may change hands as much as the purchaser pleases, the physical product is shipped twice; once from the brand to a bonded secure facility, and once to the final consumer when they’re ready to enjoy. “This gives the ability for consumers around the globe to transact and invest with one another and removes the concern of authenticity, importation and storage.”
With these authenticity concerns addressed, the Falics finds that a whole new demographic of collectors are increasingly interested in the space.
“The number of people who have started collecting in this category has grown exponentially, yet access to these exclusive collections is still incredibly difficult. Collection investing has always been difficult due to the issues with storage, importation and authenticity,” Sam continues. “This is where NFTs play a huge role in the future of the industry. Offering NFTs is the best way to show transparency and guarantee authenticity to all buyers.”
The category is also increasingly enticing to buyers who can’t afford the oft-grandiose sum for many of these purchases. The duo has seen an increased appetite for fractionalized ownership, citing a recent Penfolds cask purchased and shared by a group of friends.
“The ability to fractionalize ownership with tokens is another reason why NFTs make so much sense for this industry,” says Sam. “The other interesting part about casks is you can own a collection without having it physically and can sell that onwards with relative ease before bottling.”
“Our goal is to democratize high-end spirits and address issues for existing and potential consumers,” Dov concludes. “Blockchain and NFTs are the future and the vehicle by which we solve many of the growing pains in the industry.”
(Source of news: https://www.forbes.com/sites/katedingwall/2022/01/10/hennessy-enters-the-nft-space-with-226000-release/?sh=1adac4cf35a0)
Adidas’ Bumpy and Historic Step Into the Metaverse
Adidas dropped 30,000 non-fungible tokens on Friday, netting $23.5 million worth of ether in NFT sales during the retail giant’s historic yet bumpy foray into the metaverse.
“The sale of NFTs by Adidas is a clear indication that not only are major brands widely adopting NFTs but more importantly, they are getting ready for the metaverse,” Scott H. Weissman, CEO and co-founder of TokenSociety.io, told Blockworks after the sale. “Soon, everyone will be living their normal life and their Metaverse life in parallel.”
The collection, dubbed “Into the Metaverse,” currently ranks as the third-largest NFT collection by sales volume, according to CryptoSlam. It was one of the most widely-distributed NFT drops in history, according to the company.
Adidas’ original plans for its NFT launch promised “early access” to holders of tokens from NFT collections such as Bored Ape Yacht Club, Mutant Ape Yacht Club, Pixel Vault NFT and others, making an already hard-to-get NFT available to a limited number of people. Users had to mint the Adidas NFT for 0.2 ether, worth roughly $800 at time of sale.
A minimum of 9,620 NFTs were reserved for general sale, which later sold out in a matter of seconds on Friday. Adidas promised NFT holders exclusive access to Adidas wearables, in the form of both virtual and physical merchandise, which is scheduled to be unveiled sometime next year, according to the website.
Adidas first teased NFT plans on Dec. 2 when the brand tweeted a video of a Bored Ape NFT sporting Adidas apparel, adding that “it’s time to enter a world of limitless possibilities.”
“The Metaverse is currently one of the most exciting developments in digital, making it an interesting platform for Adidas,” a spokesperson for the company recently told CityAM.
Rocky launch
Early-access minting began at 1:26 pm ET on Friday. Shortly after its launch, various users raised concerns, including failed transactions.
Mutant Ape NFT holders – who had early access to the drop – could not complete their transactions after they had already paid gas fees for the digital collectibles. The brand briefly paused the highly-anticipated NFT launch “while the developers investigated issues,” Adidas tweeted.
The retail giant later said they would reimburse anyone who lost money on fees during failed transactions and later issued a statement saying that the “NFT drop is the beginning of Into the Metaverse, not the end.” It is unclear if all refunds have been issued.
“Even with all the measures we took, it wasn’t perfect. But, for the first time, thousands of new adopters experienced the thrills and risks of Web3. We’ll never stop learning,” Adidas said in a tweet on Monday.
The collection later sold out in a matter of seconds once Adidas resumed the drop, netting almost $24 million in sales.
Adidas additionally issued a two-per-customer limit on the NFT drop, according to the company’s website. However, one user grabbed 330 tokens, using an alternative smart contract, which bypassed the rule.
“Unfortunately, the platforms are not able to keep up with hackers who find new ways to trick the systems using bots that are upgraded just as quickly as they are identified,” Weissman said, adding that regardless of a few snags NFTs still open an entirely new revenue stream for clothing brands.
Despite criticism of the launch, many still see Adidas’ first step into blockchain-based digital collectibles as a signal of further adoption.
“However the drop was executed; It’s interesting to see people’s reactions to macro,” Kieran Daniels, co-founder of SmartDeFi, told Blockworks. “If we truly want ‘mass adoption,’ I believe we should [still] welcome large brands with open arms.”
Adidas did not immediately respond to Blockworks’ requests for comment.
Read the source: https://blockworks.co/adidas-bumpy-and-historic-step-into-the-metaverse/
Pepsi launches first-ever brand NFT with ‘Pepsi Mic Drop’ collection
Pepsi is entering web3 with the launch of Pepsi Mic Drop, a non-fungible token (NFT) collection based on the brand’s pop culture theme. In total, 1893 digital assets will be minted, most of which will be available to claim for free by U.S. residents on Ethereum’s blockchain.
The NFTs depict a microphone-like character with additional features such as hairstyles, sunglasses, and more. Each image was randomly generated by an algorithm and is unique. In addition, the visuals were inspired by Pepsi’s flavors over the years.
Through many strategic campaigns that helped Pepsi become a part of pop culture, the music industry played a crucial role in the process. Pepsi has inked deals with Michael Jackson, Madonna, Britney Spears, Kanye West, David Bowie, and other iconic names in the industry. It is also the main sponsor and organizer of Pepsi’s half time Super Bowl show since 2013, although the contract is about to expire.
A launch of a Pepsi NFT collection was almost inevitable, considering that many other major brands, including its greatest rival Coca Cola and other PepsiCo brands such as Lays’, had already entered the space. The link with microphones and music may be an effort to remind consumers of the brand’s association with the industry.
Consumers have to enter a waitlist, and 1843 will be approved to mint their an NFT free of charge, while the other 50 NFTs will be used for future marketing initiatives. Still, consumers will need to set up a crypto wallet to participate, which may dissuade those who have no experience or interest in crypto. As such, Pepsi is not necessarily looking to make this project mainstream but instead is targeting existing crypto and NFT enthusiasts.
“Pepsi has always been a brand with a strong heritage in music and pop culture, so it’s only fitting for us to bring that legacy into the new world of NFTs with a ‘mic drop’ of epic proportions,” said Todd Kaplan, VP – Marketing, Pepsi.
“We created the Pepsi Mic Drop genesis NFT collection for our fans, putting their interests and needs at the forefront by ensuring the NFTs are all free of charge and presented equitably as an inclusive and accessible opportunity for anyone to experience the exciting world of NFTs. This collectible series of microphones is not only inspired by our history, but also represents the scale and scope of how accessible we see this space becoming in the future.”
The company worked with VaynerNFT for the launch, which was also involved in NFTs for US Open tennis, Budweiser and American Apparel.
Meanwhile, as mentioned, Coca-Cola entered the metaverse through the launch of an NFT collection in virtual reality experience Decentraland. And Adidas partnered with Bored Ape Yacht Club and several other NFT initiatives, marking a big splash.
Read more: https://www.ledgerinsights.com/pepsi-to-launch-nft-collection-for-free/
Budweiser NFT collection sells out in an hour. 75% up for resale
Anheuser-Busch InBev’s beer brand Budweiser launched its first non-fungible token (NFT) collection, the Heritage Collection, featuring 1936 unique digital designs of beer cans as digital assets. The collection was dropped yesterday and sold out in less than one hour. Twenty percent have already been flipped for a higher price, with another 75% up for sale.
The NFTs could be purchased by consumers above drinking age through Budweiser’s website using cryptocurrency or regular credit cards. The pricing of the item depended on their scarcity, as Budweiser launched two collections Core Heritage and Gold Heritage. A total of 1900 Core Heritage NFTs were minted and priced at $499. The other 36 NFTs were part of the Gold Heritage set and sold for $999 each.
Many brands have been using NFTs as part of rewards schemes to promote loyalty. In those projects, NFTs are usually given away for free, either through a lottery or through proof of purchase, and they serve to make consumers want to be a part of the brand. Rather than looking for ‘flippers’ the idea is for people to keep the NFT and enhance a sense of community among the digital asset holders. Giving away NFTs for free is arguably the safer option for a brand.
Budweiser chose to opt for the more ambitious strategy, issuing a relatively low number of NFTs at a not-insignificant price. Given the current bubbly NFT market, purchasers are looking to flip the NFTs for a higher price. Within a matter of hours, 400 have already been sold for around $2,000 each, representing a quick $1,500 profit for early buyers. Almost 1500 of the NFTs, or 75%, are currently listed for sale on NFT marketplace OpenSea. Given the degree of flipping, the question is what the brand objective for Budweiser is? It ticks the box for engaging with the cryptocurrency sector. After it sold out, its Twitter profile directed people to OpenSea.
A couple of thousand NFT owners are probably pretty happy right now. But what if NFT prices eventually drop significantly? Will the owners blame themselves or the brand? But then again, it will only be a couple of thousand people out of many millions of customers. A key aspect is the learning experience.
It seems that this is just Budweiser’s first run at NFTs. The company purchased the Beer.eth domain for roughly $95,000. It changed one of its Twitter profile pictures to a rocket ship designed by NFT artist Tom Sachs. In addition, the beer brand is investing in Gary Vaynerchuk’s new NFT venture, VaynerNFT.
“The Budweiser Heritage Collection is designed to celebrate the brand’s iconic history while also moving Budweiser into the metaverse,” said Spencer Gordon, VP of Digital + draftLine at Anheuser-Busch. “The launch of this NFT Collection is yet another example of our innovative and consumer-first approach to further strengthen our iconic brands.”
Meanwhile, Mark Cuban’s NBA Mavericks team is issuing NFTs as rewards for game attendees, as are most NFL teams for specific games. McDonald’s launched NFTs to celebrate a return of an iconic menu item and Mastercard managed a lottery of a single NFT in partnership with football coach Mourinho.
(source of news: https://www.ledgerinsights.com/budweiser-nft-sells-out-in-an-hour-75-up-for-resale/)
Hong Kong newspaper SCMP partners with museums for historic NFTs with Flow blockchain
The South China Morning Post is joining Dapper Labs, the creator of the popular non-fungible token (NFT) series NBA Top Shot, to release a number of NFT trading cards commemorating the history of Hong Kong, with the first drop expected to cover 1997 during the end of British colonial rule in the city.
Founded in Hong Kong in 1903, the Post has been the paper of record for the city with a 118-year-old media archive. The news organisation released its full whitepaper on its NFT project ARTIFACT on Tuesday with details of the NFTs based on Dapper Labs’ Flow blockchain.
More specifically, the company is looking to release in the coming months a series of NFT trading cards based on many iconic moments in Hong Kong’s history. The inaugural drop of the 1997 Series will cover many historical moments in 1997, including the July 1 ceremony commemorating Hong Kong’s handover to the Chinese government, the passing of Deng Xiaoping on February 19 that year and the death of Princess Diana in August.
“We are delighted to join the Flow ecosystem and partner with a major global blockchain innovator in Dapper Labs. This partnership is essential for creating world-class NFT experiences of our historical archives,” said the company’s CEO Gary Liu, “Through our ARTIFACT whitepaper, we look forward to inspiring other ‘guardians of history’ to share our vision of making history more discoverable, connected, and collectable.”
Different ARTIFACT trading cards will be assigned to various rarity levels.
Tuesday’s whitepaper also announced the establishment of a Council of Experts to guide the forming of the ARTIFACT standard, including Alibaba Group Holding’s co-founder Joe Tsai, President of Christie’s Asia Pacific Francis Belin, Dapper Labs’ co-founder Mikhael Naayem and Animoca Brands’ chairman Yat Siu. Alibaba is the sole owner of the SCMP, and Tsai is the chairman of the publisher.
The Post first announced its ARTIFACT project in July, joining other media organizations around the world that see NFT as part of the future for the digital publishing industry. In June, CNN launched “Vault by CNN” to tokenise its history of news coverage. In August, Fortune raised 429 ether, valued at about US$1.3 million at the time, in its first-ever NFT sale.
The Post’s inaugural 1997 Series collectible cards will be divided into four rarity levels which correspond to the varying degrees of significance of the events these cards are based on.
The card based on the Post’s front-page coverage of the 1997 handover ceremony will be classified as “Super Rare,” while another commemorating the outbreak of the bird flu will be of the “Rare” grade. Other events such as the arrest of Hong Kong’s jockeys and horse racing trainers will be of the “Common” grade.
(source of news: https://www.scmp.com/tech/article/3157065/scmp-and-nba-top-shot-series-creator-launch-their-1997-series-nft-trading?module=perpetual_scroll&pgtype=article&campaign=3157065)
Givenchy Enters the Digital Fashion Landscape With New NFT Collection
Under the direction of creative director Matthew M. Williams, Givenchy is entering the digital fashion landscape with its new NFT collection in collaboration with graphic artist Chito.
The new endeavor is the second time the duo has worked together following their initial collaboration for Givenchy’s Spring 2022 pre-collection. Developed by Williams and Chito, the series includes 15 NFTs featuring eye-catching airbrushed characters and symbols, which were also utilized for Givenchy’s Spring 2022 pre-collection.
“I’ve been wanting to explore this new and exciting space of NFTs,” said Matthew M. Williams. “The fact that Chito is already active in the ecosystem made it feel even more natural for us to collaborate on this limited series and bring our collective vision for Givenchy even further.”
The Chito x Givenchy NFT collection will go on sale on November 23 on the NFT platform, OpenSea.
(source of news: https://hypebeast.com/2021/11/givenchy-matthew-williams-chito-nft-collection-info)