What the NFT Gold Rush Means for Fashion

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Week b. o. Fs deputy editor brian. Baskin speaks to ben wada goto founder of our which recently raised eight million dollars in funding. From andreessen horowitz coronado abs co-ceo the d. materialized ambush luton co founder and creative director of the fabric cat as well as b. o. Fs editorial associate mc nanda about what. The nfc gold rush could mean for the fashion industry. And whether all the hype will deliver on the promise that this could be the next major growth factor for an industry trying to reinvent itself. I m c explained the most recent development with nafta's in the fashion industry. An t is non fungible token and. That's a unique digital asset that sought chain technology so that contains a digital ledger. That sort of a record of all transactions end woods made this space really exciting and almost every industry has kind of brushed to the market in part. Because it's of within not leisure shows verifiable evidence of price but also ownership of a good that she can't be tampered with or altered that exists forever within this Within this sort of a ledger so this has been really exciting for number of brands. I think the one that sort of gained everyone's attention sort of started. The article was the collaboration between artifact end in eighteen year old digital artists known as ferocious That actually saw. I think it was over six hundred twenty. One at pairs of sneakers were sold from three thousand to ten thousand dollars and three point one million dollars total rhythm Virtual sneakers were sold in under seven minutes which obviously got the acid world looking to to the market. So this has been a really interesting sort of nixon in everyone on this panel. I've spoken with over the past few months as relate shown can to the market. And how what that might look like a starting with sort of the fabrications first entity between eighteen nelson moving forward towards artifacts at inversiones at collaboration that people

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