Roksanda to launch purchasable NFT on London Fashion Week 2022
Roksanda has added a new dimension to its Autumn/Winter 2022 presentation at London Fashion Week, with the addition of a purchasable NFT of the label’s demi-couture look.
The LFW regular partnered with the Institute of Digital Fashion (IODF), a metaverse innovation provider to create the NFT, a sculptural gown in geometric print. Available for AR try-on via an Instagram filter, the digital token will be sold in various editions on Roksanda.com from the morning of the 12 February show.
The NFT launch is part of a partnership with Clearpay, LFW’s Principal Sponsor, to bring the project to life as a first foray for both Clearpay and Roksanda to enter the metaverse.
Roksanda said this is the first time that NFTs on a luxury label's website are purchasable in pounds instead of cryptocurrencies such as Ethereum (ETH), with the label looking to simplify the NFT buying journey and making NFTs accessible to existing luxury consumers.
The NFT will be sold in a tier system, which ranges from £25 for one of 500 3D costume renders to £250 for one of 250 3D animated costume renders. The top tier 3D range, limited to 10 customers for £5,000 each, includes software files used to create a digital version of the dress, which allows the NFT owner to wear the gown in the metaverse.
The NFT is the first of its kind to give consumers access to haute fashion via Web 3.0 (purchased on roksanda.com exclusively through Clearpay).
Jamie Gill, CEO of Roksanda, said: "We have seen many big luxury brands enter this space and do it well, but their NFTs are available on specific blockchains and are only available through cryptocurrency. We are not going to say that we are experts in any way – we are learning at a very rapid pace as things come to market – but found the project important to understand our current luxury consumer."
Launched at London Fashion Week 2005 to critical aclaim, Roksanda is the namesake label of London-based Serbian designer and Central Saint Martins graduate Roksanda Ilincic. The label is known for Ilincic's bold use of colour, luxurious fabrics and connection to the art world in her ready-to-wear and accessories.