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Salvatore Ferragamo, a prestigious fashion house, has joined the growing number of designers investing in NFTs. As part of a new concept shop debuting in New York City's Soho neighborhood on Friday, Ferragamo has put an NFT booth where consumers may generate and mint their own Ethereum NFTs based on a menu of characteristics.
NFTs are unique tokens that reside on a blockchain, such as Ethereum or Solana, and represent ownership of an asset, such as a digital work of art. Visitors will receive complimentary NFTs manufactured at the Ferragamo booth; however, only 256 may be created in total.
The brand collaborated with the artist Shxpir to design the characteristics and aesthetic components of its NFTs. Shxpir creates psychedelic, 3D digital art with glitch and surrealist themes, and he has also developed a limited-edition capsule line of 200 t-shirts and 150 sweatshirts for Ferragamo.
Shxpir is no stranger to high-fashion NFTs; this month, the artist collaborated with Coach to create multicolored holographic NFTs that feature Coach purses.
Daniella Vitale, Ferragamo North America’s CEO, explained why the company chose to collaborate with Shxpir: “Shxpir embodies the spirit of New York City and Soho. “He can juxtapose dirt with luxury in a manner few others can.”
In a press statement, Ferragamo described their NFT booth as a “multi-sensory” experience that “blends the Web3 and physical retail worlds.”
Vitale stated: “One of the key aims we set out to achieve with the NFT project was to make it an inherently personal experience.”
“We know that the world of Web3 can be somewhat intimidating. As such, this project has been conceptualized to demystify the system,” she said. “Even if you’re not experienced in NFTs or if you don’t have a wallet, we’ll guide you through the steps required.”
Guests can enter a mirrored room and select from Shxpir’s designs and different characteristics to create their NFT setting while a video camera records the scenario. Then, they will receive the backdrop they created as a separate NFT and a video of themselves with their selected artwork in the background.
To some, Ferragamo’s bespoke NFTs may appear gimmicky, but to others, they may resemble a next-generation photo booth in which IRL experiences are documented and shared on the blockchain.