Although it may seem like a contradiction at first glance
Posted: Tue Jan 07, 2025 4:14 am
Ingredient 3: Price
In December last year, an exclusive NFT was sold on Mutant Ape Yacht Club for a whopping $3.6 million. Selling NFTs can actually make a lot of money, and luxury labels are by no means immune to this trend. Dolce & Gabanna recently sold exclusive NFTs for $5.7 million. And in 2020, RTFKT, a digital fashion company now owned by Nike , released three pairs of virtual sneakers designed by the artist Fewocious that ranged in price from $3,000 to $10,000.
, the truth is that some croatia number data consumers are willing to pay more for digital items than for their analogue counterparts.
Not long ago, a limited-edition digital version of Gucci’s Dionysus bag sold for just $4.75 on Roblox and was subsequently resold for $4,000 on secondary markets (more than double what the identical bag is worth in the real world).
Aware of how extraordinarily lucrative the NFT market can be, Balenciaga has created a special division dedicated exclusively to selling virtual products in the metaverse. The margins on digital items are, not surprisingly, monstrously high and their cost is much lower than that of physical products. In addition, brands do not see their accounts drained when they do not sell their inventory of digital items (something that does happen with physical products).
In December last year, an exclusive NFT was sold on Mutant Ape Yacht Club for a whopping $3.6 million. Selling NFTs can actually make a lot of money, and luxury labels are by no means immune to this trend. Dolce & Gabanna recently sold exclusive NFTs for $5.7 million. And in 2020, RTFKT, a digital fashion company now owned by Nike , released three pairs of virtual sneakers designed by the artist Fewocious that ranged in price from $3,000 to $10,000.
, the truth is that some croatia number data consumers are willing to pay more for digital items than for their analogue counterparts.
Not long ago, a limited-edition digital version of Gucci’s Dionysus bag sold for just $4.75 on Roblox and was subsequently resold for $4,000 on secondary markets (more than double what the identical bag is worth in the real world).
Aware of how extraordinarily lucrative the NFT market can be, Balenciaga has created a special division dedicated exclusively to selling virtual products in the metaverse. The margins on digital items are, not surprisingly, monstrously high and their cost is much lower than that of physical products. In addition, brands do not see their accounts drained when they do not sell their inventory of digital items (something that does happen with physical products).