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In May, CMO Txampi Diz introduced the concept of the dedicated metaverse destination as a play to bring fans closer to the French fashion house and bring multiple Web3 projects together in one place. He said that its Web3 efforts were not and would not be siloed from the rest of the business.
“It has to be coherent with the global strategy of the brand. It’s useless to just launch NFTs to be part of the conversation — they have to be tied to a project.” He also emphasised their community-building capabilities, adding that it had already started exploring private events that were limited to token holders. “We like to say we have an audience and not only customers. We believe that luxury brands have also become media, and for us, NFTs are an interesting and powerful tool.”
Guests at Balmain Festival will be able to access the Balmain Thread in three ways. First, they were given the option to join upon receiving their tickets. Then, those viewing the live stream can follow links on Balmain.com, and those in attendance in person will be prompted to launch mobile photo experience app The Moment (powered by MintNFT) to transform a photograph they take at the festival into their own NFT. Future entrance will be granted at forthcoming yet-to-be-disclosed Balmain events.
Once members, holders will be privy to Balmain’s upcoming NFT drops, exclusive in-person events and digital experiences, and house collections.
A number of other fashion brands have begun inviting their communities to participate in the creation of NFTs. Adidas and Prada, for example, partnered on a project that minted a number of submitted fan works and compiled all submissions into a group art piece. Salvatore Ferragamo’s new Soho store invited visitors to design and mint their own NFT in person while emerging designer Kim Shui created a dress made from a composite of submitted images with plans to mint it as an NFT.
Brands are also developing their own metaverse destinations. Whereas brands like Gucci have turned to go-tos like Discord and Roblox, projects like YSL Beauty’s Arianee-powered token-gated virtual space opt for self-hosted Web3 spaces. This newfound direct access to consumers allows brands to cultivate and directly connect with their community in exciting ways, Arianee CEO Pierre-Nicolas Hurstel told Vogue Business last month.
“The Balmain Thread builds upon this house’s distinctive strategy of continually exploring pathways that might strengthen our ties with the incredibly engaged, diverse and global Balmain Army,” Diz said in a statement announcing the most recent news.
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