Salvatore Ferragamo, a luxury fashion brand, has joined the growing ranks of designers venturing into NFTs.
Ferragamo has built an NFT booth as part of a new concept store debuting in New York City’s Soho district on Friday, where consumers may generate and mint their own Ethereum NFTs from a menu of attributes.
NFTs are one-of-a-kind tokens that exist on a blockchain like Ethereum or Solana and represent ownership of an asset, such as a piece of digital art. Visitors will be able to take home all of the NFTs manufactured at the Ferragamo booth for free, but only 256 will be available.
The features and aesthetic aspects for the NFTs were created in collaboration with the artist Shxpir. Shxpir makes psychedelic, 3D digital art with glitch and surrealist themes, as well as a limited-edition capsule collection of physical things for Ferragamo that includes 200 t-shirts and 150 hoodies.
Shxpir is no stranger to high-fashion NFTs; just this month, the artist collaborated with Coach to create bright holographic NFTs portraying Coach purses.
In a statement, Ferragamo North America CEO Daniella Vitale explained why the brand opted to collaborate with Shxpir: “Shxpir symbolizes the spirit of New York City and Soho.” He’s able to combine roughness with luxury in a manner that few others can.”
In a press release, Ferragamo called its NFT booth a “multi-sensory” experience that “blends the worlds of Web3 and in-person retail.”
“One of the key aims we set out to achieve with the NFT project was to make it an inherently personal experience,” Vitale said.
“We know that the world of Web3 can be somewhat intimidating. As such, this project has been conceptualized in a way that demystifies the system,” she added. “Even if you’re not experienced in NFTs or if you don’t have a wallet, we’ll guide you through the steps required.”
Guests can enter a mirrored room and select from Shxpir’s designs and other traits to create their own NFT setting, all while a video camera records the action. They will then be sent the background they created as a standalone NFT, as well as a video of themselves with their chosen art behind them.
To some, Ferragamo’s customised NFTs may appear gimmicky, but to others, it may feel like a next-generation photo booth, where in-person moments are documented and shared on the blockchain.