Karl Lagerfeld has become the latest luxury fashion brand to enter the world of non-fungible tokens (NFTs) as it launches new digital figurines.
To mark what would have been the late designer’s birthday, the fashion retailer has today released two limited-edition 3D avatars in his image on digital fashion platform The Dematerialised.
In homage to Lagerfeld’s favourite number, 777 NFT’s will be available to purchase at €77 of the first digital figuring, with subsequent drops offering customisable options.
Only 77 NFTs of the second-limited edition figuring will be available at a price of €177, but both are expected to be resold for well above the original price.
According to The Dematerialised it will plant a mangrove tree for every NFT sold as part of a partnership with RE:EARTH.
“This is a remarkable first step into the future as we pave our way into the virtual world of NFTs and digital fashion,” Karl Lagerfeld’s chief executive and president Pier Paolo Righi said.
“We’re excited to add this innovative category to our portfolio and be able to inspire existing customers and new customers with this one-of-a-kind collectable.”
Last month, Louis Vuitton announced it would begin rewarding players of its new video game with 30 NFTs.
It followed Burberry’s announcement that it was launching its first ever NFT, while brands including Balenciaga and Gucci are also understood to be exploring the technology.
The Dematerialised co-founder Marjorie Hernandez added: “The Lagerfeld brand continues to keep Karl’s legacy and love for innovation alive, and into the digital world.
“We are super proud to partner with the team at Karl Lagerfeld to bring the iconic Karl Collectable into the world of NFTs. Blockchain technology has opened the doors for new forms of consumption and production, and this collaboration is a tremendous milestone for the fashion industry entering the dematerialised world.”