It’s a bold move by the CFDA, says Akbar Hamid, founder and CEO of The 5th Column, who coordinated the project. Until now, European fashion brands like Gucci, Louis Vuitton and Burberry have been actively experimenting in metaverse and Web3 spaces. While some American brands have gotten in on the action (Tommy Hilfiger stands out), “they haven’t taken an all-out approach like the Guccis of the world,” says Hamid.
The goal was to put American fashion at the forefront of innovation, and the CFDA’s 60th anniversary was an appropriate time for this retrospective of the future. “You’re taking 60 years of archival, iconic American fashion moments, and letting them come to life. [digitally]says Hamid. It is an indicator of a juncture in the world of fashion and shows how brands can pay homage to their history while innovating and advancing.
“Bringing iconic American fashion moments to life as digital assets and reinventing their environment to amplify the brand’s core values and showcase timeless design is building a great use case for the global fashion industry as a whole.” says BNV founder and CEO Richard Hobbs. “BNV is building the framework for fashion brands to navigate into the metaverse and all the possibilities that Web3 can offer them.”
This approach also builds on previous attempts by the brand to use blockchain technology to offer exclusive access to the traditionally walled spaces of fashion. At New York Fashion Week, Keys to NYFW gave fans access to five brands’ physical fashion week experiences, from runway shows to after-parties. This innovative approach promised a new type of relationship between consumers and brands. “Fashion week has always been a walled garden that is difficult to access, and Web3 can be a democratizing force,” Jenny Wang, a Web3 adviser, told Vogue Business at the time. Granted, it wasn’t all smooth sailing; holders eligible to attend the Kim Shui show were turned away at the gate. That said, at a price point of over $15,000 (versus $100 keys) and a more personalized and curated experience (they’re unique compared to 50 keys per designer), utility compliance shouldn’t be an issue.
Themed to unite the past and present, Vivienne Tam’s NFT draws on both the designer’s Chinese heritage and showcasing the Bored Ape Yacht Club PFP, recognizable to those on Web3.
Photo: BNV and CFDA
Source: news.google.com