D&G sells virtual suit for R18m
OWNING a Dolce and Gabbana suit, a physical one, will set you back at least R45 000. For the average Joe though, that’s a pretty steep price to pay for a suit!
Of course that’s just a drop in the ocean for the person, in this case a company, which recently purchased a virtual D&G suit for US$1 199 916,01 (about R18 million) at the online auction.
The suit was bought by London-based e-commerce firm Boson Protocol which now owns the original digital file showing an electronic video of the suit, worn in the clip by a faceless silver mannequin.
It is woven with 72 embroidered glass work pieces, with both Murano glass and Swarovski crystal in a multitude of different designs and the base contains 100 percent silk.
The firm, co-founded by Justin Banon and Greg Borosa, also has a year to select a staffer to get measured for a real-life version of the garment.
The suit was just one of the nice pieces from the The Collezione Genesi collection designed by Italian fashion icons Domenico Dolce and Stefano Gabbana.
All items were offered as NFTs (non-fungible tokens). NFTs are original digital files which cannot be traded, and which are now seen as viable art forms.
Five of the items were offered in physical form as well. Two dresses, a suit, and two jewel-studded crowns.
Digital and physical copies were also made available for a gold, and a silver dress.
The gold dress was sold for US$767 261,04 (about R11,5 million) while the silver dress sold at US$641 113,52 (about R9,6 million).
Dolce and Gabbana were one of the first luxury fashion houses to introduce the concept of NFT designs.
Other brands such as Gucci, Burberry, and Louis Vuitton have followed in their footsteps and introduced NFTs in their upcoming collections. — LOOK: