Givenchy Enters the NFT Space with Chito PFP Collab
It was only a matter of time before more brands open up to the idea that digital collectables are worth exploring. Especially with the dawn of blockchain tech and the idea of digital ownership being something that is now possible with Non-Fungible Tokens. Givenchy is the latest entrant to this still somewhat nascent space by bringing a profile picture collection that is more a kin to high end art. If you’ve been looking to expand your NFT art portfolio or new to the scene but would like to get something from a brand that is synonymous with luxury. looks like Givenchy might have something for you.
The French luxury brand has teamed up with Mexico-based airbrush artist Chito to create an exclusive collection of 15 NFTs. The “Chito x Givenchy NFT” collection features an array of cartoonish characters and symbols, some of which are animated, and others bearing the Givenchy logo.
With looming concerns over the environmental effects of Ethereum based NFT's due to the power consumption from mining (term used for computers solving a redundant algorithm when validating the transactions on a blockchain to keep it secure). Givenchy’s NFT release was done with sustainability and reduced environmental effects in mind. The NFTs will be minted on Polygon, an Ethereum-compatible network that allows for more carbon-efficient transactions. On top of that, all proceeds from the sales will go towards The Ocean Cleanup, a Netherlands-based charity dedicated to extracting plastic pollution from oceans.
Although this is their very first NFT, Givenchy’s creative director, Matthew Williams, has previously collaborated with Chito for Givenchy’s Spring/Summer 2022 collection. The collection featured Chito’s signature airbrushed characters to the clothing and accessories. Now collaborating again, Givenchy has chosen to create a limited edition 1/1 collection of NFT's that can be used as an online profile picture on social media. This is currently what has been trending as you are now able to express yourself with a one-of-a-kind profile picture that not only is only owned by you but has tradeable value.
Williams said: “I’ve been wanting to explore this new and exciting space for NFTs. The fact that Chito is already active in the ecosystem made it feel more natural for us to collaborate on this limited series and bring our collective vision for Givenchy even further.”
The Chito x Givenchy NFTs went on auction on OpenSea on November 23rd and ends after seven days, with each NFT going to the highest bidder.