The 18 November NFT drop digitises six designs, sold as NFTs to physical product buyers, in partnership with the artists behind Web3 collective Felt Zine.
Givenchy is releasing a capsule collection that links physical products to digital twins through NFTs.
Dropping on 18 November, the six NFT designs from the LVMH-owned brand are building on the capsule collaboration between Givenchy creative director Matthew M Williams and streetwear brand Bstroy, co-founded by Brick Owens and Dieter “Du” Grams, which launched on 4 November. To interpret the Givenchy x Bstroy designs digitally, Williams tapped Web3 artist collective Felt Zine capsule. This is the second NFT project from Givenchy.
“Brick and Du are longtime friends who share my vision of fashion as an inclusive space for experimentation and expressing personal style,” Williams said in a statement. “Together, the three of us focused on creating streetwear with unexpected treatments that resonate beyond fashion and enter the realm of contemporary art on the street and in Web3.” Bstroy’s Owens and Grams also emphasise the importance of creating “an experience that goes beyond the collection itself”, they said in a statement.
The NFTs, 360 in total, are digital twins of six of the styles created for the capsule collection, which range from €520 euros to €4790. People in the US and Europe who buy a physical piece will receive an email to redeem their NFT upon purchasing the physical item. The NFTs will grant holders access to a membership programme that is set to launch in 2023 (no further details were provided). There’s also the potential for further utility to be added to the tokens down the line, according to the company. While they didn’t name specifics, past NFT utilities have included access to token-gated drops and invites to digital and physical events.
The drop is supported by the LVMH-backed Aura Blockchain Consortium, which the French luxury conglomerate launched in 2021. The Aura Blockchain Consortium, whose members also include Prada Group and Richemont-owned Cartier, among others, is creating the smart contracts and supporting the minting and redemption of the NFTs.
By bringing Web3-native Felt Zine, who collaborated with Diesel in 2019, into the fold, Williams taps into both expert knowledge and an existing audience in the space — a move that’s likely to garner the brand more clout with the Web3 community. Piggybacking on an existing knowledgeable Web3 community is smart and safe for brands entering the space, Exclusible CCO and co-founder Olivier Moingeon told Vogue Business last month (Exclusible is a luxury NFT platform). This is Givenchy’s first collaboration with a Web3-native artist, which the brand views as essential to developing its understanding of this space and reaching a relevant and engaged audience, according to the brand. Givenchy also hints that there are more collaborations to come.
In November of last year, Givenchy partnered with graffiti-style artist Chito on a series of NFT artworks, while Givenchy Beauty launched on Roblox in June.
Other brands to release “phygital” pieces, meaning physical goods that are linked to NFTs, include Prada, whose monthly limited-edition drops now are linked to digital twins; Puma, who added physical versions of digital sneakers available to NFT holders; and Gucci, whose collaboration with synthetic celebrity company Superplastic included physical ceramic figurines.
The Givenchy and Williams endorsement is also a win for those in the Web3 community who engage with and take inspiration from physical fashion. “Felt Zine collaborations are directly influenced by talents like Matthew M Williams who allow us to create freely and see our aesthetics and interests reflected at the highest level of art and fashion,” said Felt Zine founder Mark Sabb in a statement. “With Givenchy, we are actualising our inspiration in real time, while making a Web3 contribution to the house’s heritage.”