Balmain, the luxury French fashion brand, will launch its third NFT on December the 8th. The NFT will be a pair of trainers and include VIP experiences. The Balmain NFT was announced in Vogue magazine and will help the iconic brand join other brands entering the Metaverse.
Balmain’s Next NFT Venture
Balmain just announced in an article on Vogue that they will release their third NFT in the form of two pairs of trainers, which will launch alongside the physical release of the trainers. Alongside the NFTs, VIP experiences will also be included, centred around the fashion brands collaboration with Dogpound fitness brand.
The NFTs will be released on December the 8th and sold through Opensea, a digital auction house and marketplace. To help the NFT sell, Balmain will offer personal training sessions with fitness guru Kirk Myers, the founder of Dogpound. But only if the NFT reaches over six ETH.
If the NFT hits highs of over ten ETH, the winner will get exclusive tickets to the companies fashion show. The winner will also get two backstage tickets if it exceeds more than fourteen ETH or in fiat currency around $57,000 in today’s money.
Balmain’s transition into the NFT market is not unexpected, with market competitors such as Burberry also selling their own. The market is offering huge returns for those who invest in it. Last month, one of the brands NFTs named the flame dress sold for a staggering $17,660.
The popularity of NFTs is changing the fashion world. It will not be long until others like Nike and Addidas jump on the NFT train.