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Gucci strengthens metaverse presence with Yuga Labs collab

Gucci is continuing its metaverse activities, having signed a multi-year partnership with NFT giant Yuga Labs, the company behind Bored Ape Yacht Club and CryptoPunks. Spanning fashion and digital entertainment, Kering-owned Gucci is building its presence in the metaverse and Web3 domain. The luxury house is investing to further establish itself...

Mar 28, 2023

BusinessFeatured

MetaBirkins saga continues: Rothschild potentially seeks new trial against Hermès

In what is turning out to be a long-winded back-and-forth of various claims, the MetaBirkins case has moved onto the next phase of the legal battle against artist Mason Rothschild and luxury brand Hermès. In the latest development, Rothschild has now filed two court submissions in a bid to regain some control of the situation. Last month, the...

Mar 16, 2023

Business

Meta to wind down NFTs as it continues to prioritise efficiency

Social media giant Meta is set to wind down its non-fungible token (NFT) business as it continues to assess what to prioritise across the company. The announcement was made via the Twitter account of Meta’s commerce and FinTech head Stephane Kasriel, who said the company would be focusing on other ways to support creators, people and businesses....

Mar 14, 2023

Business

Hermès requests court to block sales of MetaBirkin NFTs

Hèrmes International has doubled down on its efforts to halt the sales of Mason Rothschild’s ‘MetaBirkin’ non-fungible tokens (NFTs) following a court case between the duo that saw a jury rule in favour of the French luxury house. Last month, Hèrmes took Rothschild to court over the sale of the NFTs, which bear a resemblance to the brand’s...

Mar 7, 2023

Fashion

Prada drops its tenth Timecapsule NFT

Prada is set to drop its tenth Timecapsule NFT in March, an initiative which started in June last year. The March edition Timecapsule shirt features the final print from a three part series designed by Italian photographer Enzo Ragazzini from his archive from the 60's. The design was originally made in 1969 for the Enzo Ragazzini exhibition at...

Feb 28, 2023

BusinessFeatured

What does the outcome of Hermès’ NFT trial mean for the future of digital artwork

The boundaries of non-fungible token (NFT) art were put to the test last week, in a trial that saw digital creation come head-to-head with the codes of luxury fashion. In the end, it was the latter that came out on top. Hermès won the highly anticipated trial against Mason Rothschild, an artist who the house had accused of trademark infringement...

Feb 13, 2023

Podcast

Podcast: What happened to NFTs in fashion?

Not so long ago, 'NFT' was one of the new buzzwords in the fashion industry. Fashion companies jumped on the trend of a non-fungible token (NFT) and fully committed to investing in the digital world. But by now, the buzz has died down significantly. What happened? You can listen to the podcast below. Source: The Debrief

Feb 10, 2023

Fashion Featured

Hermès wins MetaBirkins Trial

Hermès has won its infamous MetaBirkin case, with an American federal court citing artist Mason Rothschild's sale of NFTs infringed Hermès trademarks, even in the digital realm of a largely unregulated metaverse. A jury of 9 persons awarded damages of 133,000 dollars in favour of Hermès, which included profit of NFT sales and 23,000 dollars for...

Feb 9, 2023

Fashion

Prada releases ninth edition of Timecapsule NFT

Luxury brand Prada has unveiled the ninth instalment of its Timecapsule non-fungible token (NFT), set to drop February 2. The piece is entitled ‘Interferenza Ottica Art Print by Enzo Ragazzini 1975’ and comes as the second NFT in a three-part series of shirts adorned in special prints from the archive of Italian photographer Ragazzini. In...

Jan 27, 2023

Business

Web3 fashion platform Syky secures 9.5 million dollar funding

Luxury fashion platform Syky has announced the closing of a 9.5 million dollar funding round led by Alexis Ohanian’s firm Seven Seven Six. The company, formed by Ralph Lauren’s former chief digital and content officer Alice Delahunt, is centred around blockchain technology, and aims to serve as an incubator, marketplace and social community for...

Jan 17, 2023

Fashion

Prada announces Timecapsule NFT drop for January

Prada has announed its latest Timecapsule NFT drop for January. The soon to be released Timecapsule shirt will feature prints designed in 1969 by Enzo Ragazzini, and is the Milan-based luxury house’s eighth exclusive Timecapsule drop. The series of shirts feature special prints from the photographer's archive, spanning the late sixties and early...

Dec 29, 2022

Fashion Featured

2022, the year of digital fashion and the rise of the metaverse

The term ‘metaverse’ became completely unavoidable this year, making its way into the mindset of nearly every consumer and trickling into almost every brands’ marketing strategies. Whether it was the regular non-fungible token (NFT) drops, the opening of virtual retail spaces or the introduction of virtual influencers, the world of digital...

Dec 29, 2022