One of the blockchain-based sites is preparing to release non-fungible tokens that will be tied to collectible garments Italian fashion house Gucci and other luxury brands are planning to launch their own NFT tokens.
This is reported by Vogue Business with reference to Marjorie Hernandez, the founder of the Lukso blockchain platform, which collaborates with high fashion. Luxury brands have fallen behind e-commerce trends and now want to work with blockchain, Hernandez said.
Neuno, a fashion collectibles platform, is already working with five luxury brands to create non-fungible tokens. According to Natalie Johnson, CEO of Neuno, platform users do not need to own cryptocurrency in order to buy NFT – transactions can be carried out using a regular bank card.(The Neuno platform is powered by the Flow blockchain)
In early April, a decline in the market for non-fungible tokens was recorded . NFT, on average, fell 67% versus the February level. As of April 4, the average price of a token on the Nonfungible platform was $ 1.4 thousand. In March it rose to $ 3.6 thousand, and in February it reached $ 4.3 thousand.