- The Council of Fashion Designers of America (CFDA) has announced it is launching a first-of-its-kind digital exhibition in The Sandbox metaverse.
- In light of its 60th anniversary, the leading American fashion association has partnered with a diverse group of American designers. They will release seven one-of-one NFTs. These NFTs are dedicated to commemorating influential American brands.
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Save the date! On Dec.12, we will release our commemorative NFTs followed by the first-ever Metaverse fashion exhibition Dec.19.https://t.co/0hfFDA57Pr— CFDA (@CFDA) December 1, 2022
Celebrating Fashion in the Metaverse
The CFDA has been vocal in its efforts to strengthen the impact of American fashion in the global economy. Supporting over 450 of America’s most influential designers, the fashion council has a long history of leading industry-wide initiatives.
The annual CFDA Fashion Awards is one of the many initiatives the fashion council has led. This event celebrates the work of some of the top creative talents in the industry. The CFDA has also offered programs in collaboration with top fashion brands. Their mission is to support the professional development and scholarships of upcoming talents.
America’s foremost fashion authority is entering into Web3 with its first-ever metaverse exhibition. The CFDA aims to educate upcoming designers, fashion enthusiasts, and thought leaders with its NFT collection.
Steven Kolb, CEO of the CFDA, shared the following. “Our mission is to position our members as leaders in the global innovation of fashion and retail via digitally led strategies to support growth and expansion. With the support of The Sandbox and Polygon Studios, the CFDA is poised to educate and empower business leaders for generations to come.”
With creative consultancy from 5Crypto, the CFDA is establishing its Web3 blueprint for American fashion by working with The Sandbox and Polygon Studios. The CFDA also aims to educate, innovate, and create a community centered around the influence of American fashion.
Here are some details about the CFDA’s upcoming initiative:
- The NFT collection includes work from seven of America’s most influential designers: Coach, Diane von Furstenberg, Michael Kors, Tommy Hilfiger, Vivienne Tam, Wes Gordon for Caroline Herrera, and Willy Chavarria.
- Tommy Hilfiger has designed an iconic Rugby Shirt NFT for the CFDA’s 60th Anniversary. The NFT is priced at $25,000 and includes perks such as an all-expense paid trip to the next Tommy Hilfiger brand experience, a signed replica of the NFT, and a personalized shopping package.
- Coach has put up Leather Rexy for auction, a leather-clad miniature T-Rex NFT. Starting at $25,000, the NFT includes two VIP tickets to skate at the rink at Rockefeller Center, a tour of Coach’s archives, and a designer handbag.
- Diane Von Furstenberg is launching a custom signature wrap dress NFT, with bids starting at $25,000. The NFT comes with perks such as a replica of the NFT itself, invitations to its upcoming exhibitions, and a meet-and-greet with Diane von Furstenberg.
- Michael Kors is auctioning a beaded one-sleeve gown NFT for the anniversary. Starting at $25,000, the NFT comes with front-row seats to Michal Kors’ fashion show. It also features a backstage meet-and-greet with Michael Kors himself.
- Carolina Herrara’s NFT features both a digital and physical replica of its iconic floor-length denim blue evening gown. Buyers can get one ticket to its upcoming fashion show and an opportunity to meet Wes Gordon.
- Vivienne Tam’s NFT showcases an embroidered qipao gown. It includes benefits such as front-row seats to fashion shows, meet-and-greets, and an opportunity to participate in the design process.
- Finally, Willy Chavarria is bringing its signature ‘PLEASE RISE’ suit NFT to the auction. Perks include a 45-minute meeting with the designer and two tickets to the CFDA fashion awards.
Co-Founder and COO of The Sandbox Arthur Madrid shared, “The CFDA is the foremost authority in American Fashion, and we are honored to be partnering with them on their foray into the metaverse. ” Madrid added, “We believe the metaverse is the new frontier of expression, where avatars will be an extension of our digital identity. We are excited to offer new creative tools for fashion designers to create NFT collections with digital ownership and scarcity that will be playable in the metaverse!”
The CFDA also plans to leverage this opportunity to invite the next generation of fashion enthusiasts to the metaverse. They will do so by bridging fashion and crypto. Additionally, the fashion council looks to introduce Web3 to its members and expand its digital reach.
Ryan Wyatt, CEO of Polygon Studios, shared, “The CFDA’s transition to Web3 is essential in creating a framework for digital creatives and securing the future of American fashion and culture. Polygon and Polygon Studios are immensely proud to be playing a role in this shift.”
On the Flipside
- Nike (NYSE:NKE), Dolce & Gabbana, and Tiffany have a substantially larger influence in Web3. Nike is also positioned as the highest-earning fashion brand via NFTs.
- Furthermore, it has yet to be determined whether the NFTs will be playable in The Sandbox metaverse.
- Currently, Willy Chavarria’s most expensive shop item, The Langston Top Coat, costs $1,265.
Why You Should Care
The CFDA is at the forefront of American fashion and has made significant strides in the field in its 60-year tenure. The CFDA is one of the most prestigious fashion institutions in America, and its decision to migrate to Web3 is a landmark event for both the company and the space. Besides, the CFDA’s interest in Web3 could invite non-native users to experience the metaverse and help educate people about fashion and Web3.
Learn more about fashion in Web3:
Gucci Sets up Shop in The Sandbox Metaverse, Bringing Games, Vintage Fashion, and More