French haute couture house Balmain and NFT platform MINTNFT are entering into a major partnership. The news was announced yesterday at the opening of Balmain’s flagship store in New York, with both the MintNFT co-founder and Balmain creative director in attendance. In essence, Balmain will launch a new NFT project with MintNFT as part of its growing interest in Web3.
The Non-Fungible Thread project from Balmain and MINTNFT
The name of the project is “Non-Fungible Thread”. In essence, this NFT marks the journey of Balmain into the metaverse with MintNFT as its long-term partner. That is to say that this NFT will evolve over time, becoming an important factor in future celebrations of Balmain products. Not to mention that the NFT will give membership perks to the ‘Balmain Army’ – the family of Balmain influencers.
Another key point of Non-Fungible Thread is what it represents to Balmain. As an iconic brand founded in 1945, Balmain holds its history. In particular, how its designs are all part of “one long, unbroken thread”, all aligning with a unified vision.
“Maintaining a thread is key in fashion,” Balmain Creative Director Olivier Rousteing said about the thought behind Non-Fungible Thread. “In order to extend a clear vision and advance a distinct aesthetic, each and every collection that a fashion designer oversees must be tied together by a single, unifying thread.”
The joint project will be first fashion NFTs on the XRPL blockchain
Without a doubt, the fashion industry has been very forward-thinking as a whole when it comes to NFTs. Balmain itself has been experimenting with Web3 for months now, dropping a few different NFT clothing items in 2021.
Significantly, this is not Balmain’s first time working with MintNFT. Back in January, MintNFT worked with Balmain and the global toy brand Mattel on a Barbie x Balmain NFT campaign. As a matter of fact, the Barbie x Balmain collab was the very first NFT sale on MintNFT.
For those who don’t know, MintNFT is a new NFT marketplace. The company especially focuses on making the process of buying NFTs simple and safe. In addition, MintNFT services major brands, helping them bring their IP to NFTs in a secure way. MintNFT managed to raise close to $5 million from major companies and investors in Web3 like Ripple, Dapper Labs, Alumni Ventures Group, and SparkLabs.
Speaking of Ripple, MintNFT and Balmain have chosen Ripple as their blockchain partner. Given the importance Balmain places on protecting the environment, Ripple’s XRP Ledger – the first major blockchain to become carbon-neutral – was a natural choice. Aside from its eco-friendly protocol, Ripple also settles transactions instantly, which vastly improves the user experience. As a result, the Balmain x MintNFT collaboration will be the first fashion NFTs on XRPL.
As Balmain CEO Jean-Jacques Guével comments, “To develop a truly innovative Web3 strategy, it’d be hard to think of a better set of partners than MINTNFT and Ripple. We’re excited to work closely with them to create Balmain’s space in the metaverse—and to work on a host of singular and exciting projects in the future.”