Italian luxury fashion house, Dolce and Gabbana launched its NFT project ‘DGFamily Glass Box’ on April 24, Sunday. The project was curated and dropped in partnership with the NFT marketplace UNXD.
The drop was delayed by one hour on the scheduled day due to technical difficulties. Several users reported dAPP limit errors and payment redirections even after the delay.
The NFTs are currently available on the secondary marketplaces such as OpenSea and have a floor price of 1.679 ETH.
The collection features a glass box which when minted will result in a Black, Gold or Platinum box. Each box could be minted for 1.2 wrapped ETH plus gas fees on Polygon.
The DGFamily boxes give collectors access to the Dolce and Gabbana NFT Universe. The NFTs also include ‘an exclusive roadmap of digital, physical, and experiential benefits, both in the metaverse and IRL’.
A total of 5,000 DGFamily boxes were created. Out of them 4,250 are Black boxes, 675 are Gold boxes and only 75 are Platinum boxes. Black box owners will be granted access to all digital experiences, whereas Platinum and Gold box owners will also gain access to IRL events.
The boxes were sold in a ‘blind sale’, meaning the buyer does not know which box they have acquired until after they mint the NFT. The reveal of the boxes will be user-initiated, random and on-chain, powered by Chainlink.
100 ‘blind’ boxes and 5 Gold boxes will be reserved by UNXD. 60 Platinum boxes will be reserved for private sale and auction winners of Dolce and Gabbana’s previous NFT drop ‘The Genesis Collection’. Thus 4,835 unrevealed boxes were launched on Sunday.
The private sale, however, of the 40 ETH per piece Platinum boxes, includes some notable buyers such as Ivan-Soto Wright, the CEO and Founder of MoonPay, Danilo S. Carlucci, CEO of MorningStar VC and many others.
The collection was only available to people on an ‘allowlist’. The access to allowlist was via raffles on Premint and competitions on UNXD Discord channel.
Dolce and Gabbana is adopting the crypto universe in its own manner just like other Italian fashion houses. Gucci acquired virtual land to create a Gucci Vault, which will list and sell Gucci-based items like NFTs and vintage bags.
Another Italian fashion house, Off-White will accept Bitcoin, Ethereum, Binance Coin, Ripple, and stablecoins Tether and USD Coin for its products. The crypto payments will only be acceptable at Off White’s London, Paris and Milan flagship stores.
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