D&G to launch NFTs on Polygon marketplace

[TL;DR]

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1. Dolce & Gabbana (D&G), the famous Italian luxury brand, has announced its next NFT expansion in collaboration with Polygon.

2. Dolce & Gabbana partnered with UNXD, Polygon's NFT marketplace UNXD, for the expansion.

3. Using Polygon's scaling network, sales will be priced in Wrapped ETH (wETH).

4. The D&G NFT will include different designs of each piece in different boxes, giving each box a unique rarity and providing an extra layer of exclusivity.

5. There's no official release date for the D&G DGFamily NFT drop. The initial price and quantity are yet to be disclosed as well.


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D&G to launch NFTs on Polygon marketplace

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Dolce & Gabbana, the famous Italian luxury fashion house, has partnered with UNXD, a Polygon NFT marketplace, to expand its NFT collection.

The "DGFamily NFT community" expansion will leverage UNXD's platform as the portal to the DGFamily's ability to access its exclusive luxury product line via a "DGFamily Box" entry pass.

"DGFamily is an extension of how we’ve always operated but extended through digital technology" — D&G executive.

D&G’s First NFT Collection
Dolce & Gabbana is no novice to Web 3.0, the metaverse, or non-fungible tokens (NFTs). The company's first collection, "the Collezione Genesi," which translates to "Genesis Collection in Italian," was released in September of last year and was sold to private collectors for roughly $6 million.

The collection, which was inspired by Venice, featured nine unique pieces of digital artwork, and it was regarded as the world's first " Couture NFT collection."

The most valuable NFT from that collection was a "Doge Crown," which featured "seven blue sapphires and 142 diamonds that were sold for $1.3 million."

The DGFamily NFTs

The NFTs are represented by Membership tiers. They are also bound by Digital, tangible, and experiential incentives. Due to the collection's utility, anybody who buys a DGFamily box is eligible for a variety of incentives, which vary in type, depending on their membership level. Dolce & Gabbana hasn't disclosed the incentives yet, but if they're anything like other NFT collections, they might be substantial.

The DGFamily boxes
As seen on the UNXD NFT page, the DGFamily boxes will be divided into three membership tiers: Black, Gold, and Platinum. The drop will take place on Polygon, an Ethereum Layer 2 solution with quick speed and low transaction fees.

1. The Black Box
The Black Box is mysterious and bold, and it grants access to the DGFamily's first level: exclusive Dolce&Gabbana digital/physical drops, a series of digital/metaverse events, and special incentives along the way, including a special Dolce&Gabbana swag set.

2. The Gold Box
The Gold Box is more luxurious, shiny, and exclusive than the Black Box. It holds all of the Black Box's benefits, plus access to even more exclusive Dolce&Gabbana drops and invitations to numerous IRL events. Special kicks and a premium Dolce&Gabbana swag package are also included in this category.

3. The Platinum Box
The Platinum Box is by access only, and it is the pinnacle of the DGFamily community, also the most exclusive. It comes with all of the benefits of the Gold Box, plus access to the most exclusive drops and special IRL experiences, including an exclusive Dolce&Gabbana offsite.

The first D&G Family Box will be released on UNXD, with sales priced in Wrapped ETH (wETH) using Polygon's scaling network. Buyers will obtain the wrapped ETH by transferring their Ethereum to the Polygon network. Each Box will be coined on Ethereum Layer 1 for provenance purposes before being bridged to owners' wallets on UNXD's platform, which is on the Polygon's Layer 2 solution to save fees and energy consumption.

While the costs of the various boxes are yet to be revealed, along with any information about their supply, both Domenico Dolce and Stefano Gabbana will create all the items in each box with varying rarities, providing an extra level of exclusivity. However, to ensure a reasonable rarity, D&G says fewer than 10,000 boxes will be available, with costs released 1-2 weeks before each drop.

Other fashion brands have also drifted to blockchain technology to combat counterfeiting. However, UNXD emphasizes the importance of security for the D&G NFT drop, noting that no drops have gone live and counterfeits should be avoided on OpenSea.

Conclusion

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The metaverse, Web 3.0, and NFTs give opportunities to opulent brands, who create goods with high production costs & selling prices. These Companies can easily build a product and copy it for as many individuals as they desire with NFTs, which reduces overhead costs and, in theory, a greater revenue.

However, the Dolce & Gabbana DGFamily NFT drop's initial price, quantity, and release date are yet to be disclosed. If the first NFT drop is any indicator, this collection is expected to generate huge sales as well.



Author: Gate.io Observer: M. Olatunji
Disclaimer:
* This article represents only the views of the observers and does not constitute any investment suggestions.
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