With distinctive brand experiences and greater interaction, NFTs are increasingly the new darling in luxury brands like Gucci, Burberry and Prada but could digital assets be commercialised in the near future?
Apart from fashion, other industries are gradually beginning to use NFTs to sustain its steady growth in the specific markets. The latest addition to the Aura Consortium Blockchain is Mercedes-Benz. The German car manufacturer’s access to Aura Blockchain Consortium’s blockchain technology enables Mercedes‑Benz to explore new strategic dimensions of digital brand development such as creating NFTs for in-car digital art experiences.
However, Vertu reemerges into the market together with NFTs to celebrate the brand’s 22nd anniversary. They collaborated with Binance to set in motion its new Vertu Constellation X Ulm luxury smartphone. One could land it through an exclusive sales process that revolved around NFTs.Vertu provides about 10,000 smartphones available for sale via the purchase of an NFT on the official Vertu Paris website and around 1,000 NFTs will be on sale on Binance’s platform.
It is similar to how Prada, LVMH and Cartier’s strategy in retaining consumers from their already huge customer base. This further draws consumers in as they could expand their social circle and business activities. Whatever path the consumers wish to take, each original NFT holder could stand a chance of receiving a string of prized assets amounting to approximately US$4.7 million.
Vertu’s business strategy with convertible NFTs could make or break the NFT and phone market. However, as it stands with the relevance and popularity of NFTs in today’s time, the brand is more likely to soar than dip.Building Awareness For Future New Audiences Luxury brands jumping into the world of NFT may be one of the most critical economic topics in the modern world. The metaverse is a growing marketplace for NFT of the future and companies have already started to venture into this virtual space, which is touted to have an immense potential in attracting and growing new consumer base.Italian luxury fashion house, Gucci is one of the world’s most renowned fashion brands and on the other hand, Roblox is one of the most popular games and platforms.
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