Italian clothing brand Diesel is set to debut its new non-fungible token (NFT) project dubbed the “D:VERSE” on the Rarible marketplace on March 12. The collection is based on the brand’s showpieces from its autumn and winter 2022 collection.
Diesel is the latest fashion brand jumping on the NFT bandwagon in an effort to provide customers with a more digital experience. Italian luxury fashion house Prada and sportswear giant Adidas joined forces to launch an NFT project built on the Polygon network in January.
Also in January, Gap announced it had teamed up with InterPop to launch its first NFT collection on Tezos, rolling out a gamified digital experience that allowed customers to purchase a limited-edition Gap hoodie.
Diesel offers instructions on setting up an electronic wallet.
Morgan Stanley (MS), predicts that the global NFT market will reach $300 billion by 2030. The report identifies luxury brands such as Gucci, Balenciaga and Kering as in the best position to profit from digital collaborations in the metaverse.
Auctioning off NFTs has already made millions of dollars for luxury fashion brands. In September, Italian haute couture label Dolce & Gabbana launched its first NFT collection, Collezione Genesi, which fetched approximately $5.65 million in a sale.