BoohooMan takes deep dive into NFTs for first time
BoohooMan is launching its first-ever collection of non-fungible tokens (NFTs) in a further sign that fashion and NFTs are forging increasingly close relationships.
The menswear brand said it’s the first brand of its kind to launch a digital collection and comes after its first augmented reality campaign last month that means it’s diving ever deeper into the digital world, something that makes sense for a digital-only brand.
It has come up with a collection of “eight three-dimensional futuristic NFTs” that “reimagine its apparel in the Metaverse, with a modern contemporary twist”. The label is also giving away one NFT to eight randomly selected people via a dedicated competition page.
An ‘NFT’ is a digital asset that belongs to the person who has it in their crypto wallet. A record of value and ownership is stored on a blockchain ledger that anyone can view, but only the owner has permission to alter.
BoohooMan’s NFTs are minted on the Ethereum blockchain (the second largest blockchain after Bitcoin), and will be sent to the winners' Ethereum wallet via OpenSea.
CEO Samir Kamani said: “Blockchain technology and NFTs are on the tip of everybody’s tongue and have been for quite some time. We have seen luxury brands flock to the Metaverse one after another, but we are yet to see any fashion brands in our market enter the space. We see a future for digital fashion. This collection is us dipping our toe into the vast and complex landscape of the Metaverse.
“This is our first experiment with non-fungible tokens and we have great expectations for future NFT collections, collaborations, digital fashion pieces, games, and more.”
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