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Dolce & Gabbana’s First NFT Collection Sells for $5.7M
The fashion designers’ Collezione Genesi collection was hosted by luxury marketplace UNXD, which is built on the Polygon network.
Dolce & Gabbana’s inaugural non-fungible token (NFT) collection, the Collezione Genesi, fetched approximately $5.65 million in a sale that closed Thursday.
- The group of nine NFTs was launched on luxury marketplace UNXD, which is built on Ethereum layer 2 Polygon.
- The bidding for the collection started Sept. 28 and ended today, with the NFTs being personally designed by Domenico Dolce and Stefano Gabbana for UNXD.
- “The Doge Crown” NFT fetched the largest amount - 423.5 ETH, or roughly $1.3 million at current prices, while “The Glass Suit” NFT took in 351.384 ETH, or just over $1 million. The two versions of the “Dress from a Dream” each fetched more than $500,000.
- Winners of each item received not only the NFT, but physical versions of the items and exclusive access to Dolce & Gabbana events.
- UNXD has also partnered with Polygon to launch a $10 million “Culture Fund” that aims to expand the use of NFTs in the fashion industry.
Read more: Dolce & Gabbana’s NFT Collection Said to Attract Bidding Interest From DAOs
STORY CONTINUES BELOW
UPDATE (Sept. 30, 20:31 UTC): Updated with additional sales details in third bullet point.
Tanzeel Akhtar
Tanzeel Akhtar has contributed to The Wall Street Journal, BBC, Bloomberg, CNBC, Forbes Africa, Financial Times, The Street, Citywire, Investing.com, Euromoney, Yahoo! Finance, Benzinga, Kitco News, African Business Magazine, Hedge Week, Campden Family Office, Modern Investor, Spear's Wealth Management Magazine, Global Investor, ETF.com, ETF Stream, CIO UK, Funds Global Asia, Portfolio Institutional, Interactive Investor, Bitcoin Magazine, CryptoNews.com, Bitcoin.com, The Local, The Next Web, Mining Journal, Money Marketing, Marketing Week and more. Tanzeel trained as a foreign correspondent at the University of Helsinki, Finland and newspaper journalist at the University of Central Lancashire, UK. She holds a BA (Honours) in English Literature from the Manchester Metropolitan University, UK and completed a semester abroad as an ERASMUS student at the National and Kapodistrian University of Athens, Greece. She is NCTJ Qualified - Media Law, Public Administration and passed the Shorthand 100WPM with distinction. She does not currently hold value in any digital currencies or projects.
