From clothing, footwear, and accessories, to jewellery brands, NFTs have slowly made their way into the luxurious world of fashion. The latest entrant to this space is luxury fragrance brand Krigler, which is adding an NFT element to its exclusive products.
“[NFTs] for us are the perfect way to create an artistic certificate with the description of the fragrance and the inspiration behind it,” Ben Krigler, the fifth-generation CEO of the fragrance house, was quoted as saying by WWD.
How Krigler NFT works
The brand has been creating scents since 1904. As a result, it has catered to the upper echelon of society and boasts a clientele of some of the most significant cultural figures from the past century. Movie star Audrey Hepburn, artist Pablo Picasso, and former U.S. President John F. Kennedy are some of the names on the list.
Krigler’s archive has just over 600 different fragrances, of which, only a fraction is available today. As a result, the luxury brand introduced a unique “leasing” programme. Under this, anyone can lease a fragrance from the past for a year.
The fragrance house has now added exclusive NFTs to its leasing programme. The NFT is a digital video that outlines the history and intricacies of the leased fragrance. Whoever purchases a fragrance will have ownership to both a fragrance and its NFT for a year.
For instance, this year, Krigler leased its Krigler Grand Bonheur 54. Originally created in 1954 for a wedding of a Greek banking heir, the fragrance and its NFT was purchased by a client for $8,000. The client will have ownership of both for a year.
Several luxury brands have been hopping on the NFT bandwagon. Last week, a Gucci NFT was auctioned at Christie’s for $25,000. With the NFT craze picking up pace, more luxury brands are likely to follow suit.