You’ve probably already heard about this acronym which has taken over all online conversations and has been embraced by players in all industries – art, music, fashion and beauty.
The Non-fungible token (NFT) is a digital asset that has a unique signature which makes it impossible to reproduce. Some recent record-breaking auctions have made NFT very popular and trendy.
As “The virtual economy is one of the greatest economic opportunities of our generation,” said John Egan, CEO of L’Atelier BNP Paribas, here are some stories you should know:
🌐 NFTs are already infiltrating the beauty industry constituting a $250 million market, and some brands are already seizing these opportunities, like Jeffree Star Cosmetics that launched an NFT line in collaboration with artist Marcelo Cantu.
🌐 Gucci recently auctioned a four-minute NFT video at Christie’s for $25,000.
🌐 RTFKT Inc.—pronounced “artifact” sold about 600 pairs of digital sneakers for $3.1 million in seven minutes in February.
🌐 Givenchy Beauty outbreak the game! Few days ago 1.952 NFT artists pieces has been sold in two seconds.
🌐 Early adopter, the Fabricant, a digital fashion house, sold a shimmering dress ‘Iridescence’ on the blockchain for $9,500 in 2019.
Marketing teams, let’s dive into newness and imagine your own NFT with The Social Wire!