French luxury fashion brand Balmain announced on social media the launch of the limited edition NFT series Unicorn Phygital Wearable Collection.
The collection includes 130 unicorn sneaker NFTs, each corresponding to a physical pair of shoes. Buyers can pay with traditional currencies or ETH.
While Balmain’s Unicorn NFT is currently not compatible with any metaverse gaming platforms, there are rumors that the NFT may work with some virtual world games in the future.
Merging the physical and digital worlds, the collection is the latest move by Balmain to expand its presence in the digital world. The fashion industry has been increasingly exploring the use of NFTs to enhance brand exclusivity and engagement with customers.
Balmain’s NFT collection bridges the gap between physical and digital fashion in a unique way, bringing fashion lovers together with blockchain technology. Balmain has not revealed whether it plans to release more NFT series in the future.
Fashion industry participation in the NFT market has grown steadily in recent months. In March 2021, Gucci sold a pair of virtual sneakers for $12,000, while in May 2021 Burberry partnered with Mythical Games to release its first collection of NFTs.
Balmain’s entry into the NFT market shows that the fashion industry is constantly exploring new ways to engage with customers and expand its digital presence. The release of the Unicorn Phygital Wearable Collection is sure to generate excitement among NFT collectors and fashion lovers alike.