DKNY Launches NFT Campaign
DKNY is the latest fashion luxury brand to ride the NFT wave, auctioning its redesigned logo as a non-fungible token (NFT) for charity. According to the brand, the new logo is inspired by its iconic mural that lived for over a decade on Houston Street in New York City and is a tribute to the brand's hometown. The NFT was created in partnership with Paris-based art collective Obvious which works with the latest models of deep learning to create AI-based artwork. In addition to visuals, the NFT will include a soundscape of news reports, nostalgic radio voiceovers, and testimonials on what makes New York City. Meanwhile, the DKNY logo will appear on DKNY brand creative, ready-to-wear, and accessories beginning on 8 September.
Jeffrey Goldfarb, executive vice president of DKNY's parent firm, G-III Apparel Group, said he is excited to launch its new logo through this art form. "The digital art highlights the brand's strong bond with New York City in a way that is uniquely our own and pushes the brand into this digital space with our first NFT," he added.
The auction's proceeds will be donated to the American Nurses Foundation Coronavirus Response Fund for Nurses, offering financial relief to front-line nurses fighting the pandemic. It will be open for auction on 1 September on NFT marketplace Rad, and the auction page will allow prospective buyers and viewers the opportunity to preview the logo NFT before the bidding closes.
DKNY is not the first luxury brand to have experimented with NFT this year. Louis Vuitton paid homage to its founder by rolling out a new NFT video game with 30 embedded NFTs. Meanwhile, fashion magazine Vogue Singapore also leapt into the NFT scene, launching NFT mystery boxes and NFT digital covers. At the same time, Coca-Cola have also made its move in the NFT scene, joining companies such as Budweiser, Dole, P&G, and Warner Bros, among others.