Luxury fashion house Dior has unveiled a new line of men’s sneakers that leverages the Ethereum blockchain to offer a matching non-fungible token (NFT).
The sneakers, called the B33, are part of Dior’s Men’s Fall 2023 collection and were designed by Dior Menswear artistic director Kim Jones, the company said in a Friday tweet.
What sets these sneakers apart is their unique online authentication system and accompanying NFT. Each pair of shoes will be linked to a “digital twin,” a matching NFT minted on the Ethereum blockchain.
This means that each pair of sneakers will have a unique digital counterpart, ensuring their authenticity and providing an additional layer of security for buyers.
The B33 sneakers will be released in a limited run of only 470 pairs, with each pair priced at $1,350.
In addition to the NFTs, six more styles of the B33 sneakers will be released, featuring an NFC chip placed under the sole of the right foot.
This chip will be associated with an encrypted key that will grant holders access to a personalized online platform.
On this platform, owners will find digital certificates of authenticity for their shoes, as well as other exclusive services that are yet to be revealed. The prices of these additional styles will range from $1,000 to $1,100.
Fashion Brands Jump on the NFT Craze
Dior’s move to embrace blockchain technology comes as its parent company, LVMH, has shown interest in Web3 and crypto.
Many LVMH-owned brands, such as Hennessy, TAG Heuer, and Louis Vuitton, have already incorporated blockchain-based features into their products and programs.
“Next major fashion brand to jump into web3: Dior,” Megan Kaspar, a crypto investor and founding member at Red DAO said.
“The approach for brands to integrate web3 into their products quietly is trending.”
However, what sets Dior’s announcement apart is its deliberate avoidance of blockchain-related terminology.
Unlike previous LVMH campaigns, which heavily promoted terms like Web3 and NFTs, Dior has chosen not to use these terms in its promotional materials for the B33 sneaker line.
While blockchain technology is increasingly popular and accepted, terms like Web3, crypto, and the metaverse can sometimes carry negative connotations or skepticism.
By focusing on the product itself and the benefits it offers, Dior might be seeking to tap into the world of blockchain without getting caught up in the baggage that comes with it.
Earlier this month, Louis Vuitton announced its first NFT collection, with each iconic-trunk-turned-digital-collectible coming with a tag of nearly $42,000.
The fashion giant has prepared a collection of phygital “Treasure Trunks.”
These NFTs will also serve as access passes to future products, experiences, and the community of holders.
There will be “several hundred” trunks available, with each piece costing €39,000 ($41,685). Their owners will not be able to sell them or gift them to somebody else. They can’t be returned either.
That’s right! Luxury fashion house Dior has embraced Ethereum for its new line of men’s sneakers. The B33 sneakers, which were designed by Kim Jones, come with a matching NFT that is minted on the Ethereum blockchain. The NFT serves as a digital twin of the sneakers, providing buyers with proof of authenticity and ownership.
The B33 sneakers are the first in a series of luxury fashion items that will be offered with an accompanying NFT. Dior is not the only luxury fashion house that is exploring the intersection of fashion and blockchain technology. Other brands, such as Gucci and Louis Vuitton, have also experimented with NFTs.
The use of NFTs in the luxury fashion industry is still in its early stages. However, there is a growing interest in the technology among both brands and consumers. NFTs offer a number of potential benefits for the luxury fashion industry, including:
- Proof of authenticity: NFTs can provide buyers with proof of authenticity for luxury goods, which can help to combat counterfeiting.
- Ownership: NFTs can give buyers a sense of ownership over their luxury goods, which can make them more valuable.
- Exclusivity: NFTs can be used to create limited-edition luxury goods, which can increase their exclusivity and value.
It remains to be seen how the use of NFTs in the luxury fashion industry will evolve. However, the technology has the potential to revolutionize the way that luxury goods are authenticated, owned, and valued.
Here are some of the key points about Dior’s use of Ethereum for its new line of men’s sneakers:
- The B33 sneakers come with a matching NFT that is minted on the Ethereum blockchain.
- The NFT serves as a digital twin of the sneakers, providing buyers with proof of authenticity and ownership.
- Dior is not the only luxury fashion house that is exploring the intersection of fashion and blockchain technology.
- NFTs offer a number of potential benefits for the luxury fashion industry, including proof of authenticity, ownership, and exclusivity.
It will be interesting to see how the use of NFTs in the luxury fashion industry evolves. However, the technology has the potential to revolutionize the way that luxury goods are authenticated, owned, and valued.