Salvatore Ferragamo, a luxury fashion brand headquartered in Florence, Italy, has installed a non-fungible token (NFT) booth in New York City, where customers can design and mint their own Ethereum-backed NFTs on OpenSea.
The booth is part of a larger launch of a Salvatore Ferragamo concept store in the SoHo district of the city, which opened its doors on Friday. Only 256 NFTs can be minted in total, and are free to all visitors. The fees that cost to mint an NFT will be covered in advance by the brand.
For the launch, the brand is working with artist Shxpir, who has previously worked with companies like Coach to design holographic handbags. For Salvatore Ferragamo, Shxpir has created 3D digital visual elements for the NFTs.
The launch comes just a day after NFT.NYC - a conference about non-fungible tokens in Times Square - wraps up after a week of discussions about how fashion brands can lean into the Web3 and NFT space. Big-name brands like Gucci, Prada, Bulgari and many others have all recently launched NFT collections of their own.
This isn't Salvatore Ferragamo's first step into the virtual world.
Last year, the brand worked with Obsess, a virtual and augmented reality software platform that helps companies launch virtual experiences and interactive e-stores. The virtual store, called "House of Gifts" allowed customers to play around in a digital villa that showcased Ferragamo products.
© 2023 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.