Founded by Roksanda Ilinčić, a Serbian fashion designer, the fashion brand ROKSANDA has partnered with the Institute of Digital Fashion (IODF) and Clearpay for its NFTs which are part of an Instagram filter, Vogue reports.
However, the tokens can't be bought with cryptocurrency like ether (ETH), but rather with traditional pounds. The price range varies from ~$34 up to $6773 depending on an image put inside the token.
ROKSANDA CEO Jamie Gill says the brand wanted to make NFTs accessible as much as possible to existing luxury consumers:
We're not going to say we are in any way experts — we are learning at a very fast pace as things come to market — but it felt important to make the project make sense to our existing luxury consumer.
While NFTs from other brands such as Balmain have been sold on marketplaces like Opensea or auctioned at Sotheby's, Roksanda relies on Clearpay, a service that provides an e-commerce solution called "buy-now-pay-later." The tokens are set to appear at the Roksanda Autumn/Winter 2022 show, which is scheduled for February 21, 2022.
Roksanda isn't the only fashion brand that joined the digital economy. Earlier, To The Moon reported that the other luxury fashion brand Gucci acquired an undisclosed amount of land on The Sandbox to build a virtual world on the metaverse platform. The deal is part of the brand's Gen Z-focused project called Gucci Vault.