VIRTUAL REALITY
Would you pay more than US$300,000 (about S$408,000) for a gold sequinned Dolce&Gabbana couture jacket you can’t actually wear? Someone did—and scored bragging rights for owning a piece of the luxury fashion house’s debut NFT collection. Launched at the Alta Moda show in August and auctioned on digital marketplace UNXD, the ninepiece Collezione Genesi collection was offered as non-fungible tokens (NFTs), with five of the items available in physical form as well. NFTs have not only opened up new commercial avenues for designers, but also opportunities to push the boundaries of creative expression. The collection fetched 1,885.73 ETH (ether is a type of cryptocurrency) or about S$7.6 million at current exchange rates, making it the most expensive fashion NFT collection sold to date.