NFTs, or non-fungible tokens, are digital assets such as pieces of artwork, videos and more, that are certified and traded on a blockchain network that cryptocurrencies like bitcoin belong to, but they can’t be interchangeable because their value is unique. In addition, they provide proof of ownership.
Brands like Louis Vuitton and Nars are using these NFTs or non-fungible tokens to promote their brands and create an interesting, creative experience around products.
For the 200th birthday celebration of Louis Vuitton’s founder, the fashion house has launched an app game inspired by the journey Louis Vuitton made as a teenager to get to Paris. The game is called “Louis the game” and consists of 6 imaginary worlds where the players will play as Louis Vuitton’s mascot, Vivienne.
The game is designed to be played with friends around the world where they can collect 30 free NFTs, 10 of these non-fungible tokens are made by Beeple, a digital artist that his work was sold for US$69 million at auction in March 2021. In this game, you can also learn lessons about the brand history, collaborations, and runaway highlights from Loius Vuitton.
As another example, there’s Nars, who made use of NFTs to interpret beauty products into digital works of art. Nars, in collaboration with DJ and music producer Nina Kraviz, collage and crystal artists Sara Shakeel and fashion designer Azéde Jean-Pierre have created 3 digital artworks inspired by Nars famous Orgasm product line.
The first work of art was done by Shakeel, who created a video of sparkling lips titled “Consume me” and it’s free to democratize NFT access. The second and third artworks will be related to a physical product. Jean-Pierre’s NFT includes limited edition Orgasm products and will cost $50. Kraviz’s artwork will cost $500 and there will be only three available and includes a large number of products that costs the same of $500.
In fashion and beauty, there’s not yet a dominant marketplace in the world of NFTs. Brands are betting on creating experiences rather than sales for their consumers. There is still a long way to go, but the foundations of a digital era and non-fungible tokens are already being laid.
By Andrea Padilla