A $300,000 Dolce & Gabbana tiara you can’t actually wear? Luxury goods giants like Gucci, Dolce & Gabbana and Burberry dip their toes into digital markets
Dolce & Gabbana, Gucci, Burberry and other luxury-goods companies see promise in digital markets where—just as in real life—rarity and exclusivity can translate into high prices
Non-fungible tokens, or NFTs, have gone in the last year from a relatively obscure blockchain technology to a market valued at around $44 billion. WSJ explores how NFTs are transforming the art market and tells the story of who is behind the buzz. Photo illustration: Alexander Hotz/WSJ. A virtual Gucci purse that cost more than its real-life equivalent. A one-of-a-kind electronic Dolce & Gabbana tiara that fetched over $300,000 at auction.
The world’s biggest luxury brands have been dipping their toes into the world of digital fashion, and the early evidence suggests there are eager buyers willing to pay premium prices for virtual products.
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