NFTs may have made themselves known at fashion weeks in Paris and New York, but this weekend, they’re powering Metaverse Fashion Week. The first event of its kind in Decentraland has already seen major brands sign on as participants, and is bound to showcase just how the metaverse can help forward fashion’s market and momentum. Also in this edition, we follow the latest mints by fashion powerhouses Gucci and BAPE, and other moves by their fellow cultural players.
Reach out to us with NFT-related tips or stories for potential coverage in our upcoming editions.
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THE BIG STORY
What's fueling the NFT conversation
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JR CREATES AND SELLS NEW PUBLIC ARTWORK AS NFT IN SUPPORT OF UKRAINE
WHAT HAPPENED: On March 14, French artist JR presented his latest public art installation, created in support of Ukraine as the country continues to defend itself against an aggressive Russian invasion. Unveiled in Lviv, the massive work features an image of Valeriia, a five-year-old refugee, printed on a 45 by 21-meter canvas which was unfurled and held by 100 people on the city’s Freedom Avenue.
The artwork has made the cover of TIME Magazine and is now available as two NFTs, a video NFT recording the unfurling and a photo of the final piece. All funds generated by primary and secondary sales will go toward building a logistics network to aid refugees fleeing Ukraine.
WHY IT MATTERS: As previously covered here, NFTs and cryptocurrency have been key in raising millions to fund Ukraine’s war and humanitarian efforts. This latest project similarly taps the NFT community for aid, but particularly, sees a high-profile artist leverage his own following and the digital medium for a powerful cause. JR’s first NFT foray was last year’s Greetings from Giza collection, which fractionalized one of his large-scale public installations.
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THE NFT DROP TO KNOW
The release shaking up NFT commerce
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ARTWORK: Gucci Grail by Gucci x 10KTF
THE LAUNCH: Last week, Gucci and virtual fashion platform 10KTF inaugurated their collaboration with a sale of mint passes, which allow holders of any PFP to order up a made-to-measure Gucci Grail look for their NFT avatar.
THE RECEPTION: Since its launch, there have been some 3,000 pass buyers, making up a total sales volume of nearly 1.2KETH (more than $3.5m) on OpenSea. The art reveal on March 23 saw two unique Gucci Grail ensembles, one tropical and the other equestrian-themed, adorning various World of Women, Bored Ape Kennel Club, 0N1 Force, and Cool Cats PFPs across Twitter, accompanying a further spike in sales.
WHY IT MATTERS: Whether in its choice of collaborator or in a release that capitalizes on the rage for PFPs, Gucci continues to demonstrate savvy moves in the NFT realm. Unveiling its latest virtual wearables while engaging existing NFT avatar holders guarantees the brand traction and reach beyond that of yet another standard-issue NFT collection, and offers a case study in activating the wider NFT fashion community.
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THE WEEK'S NFT RANKINGS
In partnership with 
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Last 7d Sales Last 7d Changes
1 Bored Ape Yacht Club $90,392,389 ▲ 43.30%
2 Mutant Ape Yacht Club $54,147,877 ▲ 18.54%
3 CryptoPunks $27,347,174 ▼ 2.78%
4 Azuki $26,641,968 ▲ 272.04%
5 MURI $26,017,113 ▲ 131.63%
6 CloneX $15,822,224 ▲ 80.99%
7 Crabada $12,935,189 ▲ 7.81%
8 Bored Ape Kennel Club $12,392,123 ▼ 17.25%
9 World Of Women $11,581,153 ▲ 344.63%
10 Meebits $11,411,990 ▼ 59.74%
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For the week ending 3/24. Source: Cryptoslam.io
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WHAT'S TRENDING
Image: @bapetaverse on Twitter
B)APETAVERSE
On March 23, A Bathing Ape, the world-dominating streetwear brand, unleashed its first collection of 10,000 NFTs, 3D renderings of its mascot that are set to make up the virtual (B)APETAVERSE. Fitting for a trendsetter with a massive IRL following, the launch was warmly received, even as some fans logged disapproval of the art and BAPE's NFT entry. The (B)APETAVERSE Discord amassed more than 20,000 members, with the sale clocking a healthy 1:2 owner-to-item ratio and minting out swiftly for 0.3ETH ($898.42) per collectible.
(B)APETAVERSE 24 hour sales volume from March 22 hits more than $7 million, with a floor price of around $2,000. Image: icy.tools
While the floor price of (B)APETAVERSE NFTs has fluctuated, it has settled at around 0.7ETH ($2075.70), according to icy.tools. Again, considering BAPE’s real-life cultural currency, these NFTs are bound to hold their resale value, when not boosting their holders’ clout.
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NFTS IN THE NEWS
Image: The NFT Factory
THE NFT FACTORY
To position France as a forerunner in the global NFT ecosystem, 51 of the country’s leading crypto players — including RTFKT, Obvious, and the Museum of Crypto Art — have banded together to form The NFT Factory. As part of its mission, the collective plans to launch a membership program, a NFT collection, and a physical gallery later this year.
ALTERRAGE: FUTR E*SHCK AT ARTSECT GALLERY
The self-described decentralized fashion label Alterrage is staging its first exhibition at London’s ArtSect Gallery, presenting both an IRL installation and virtual environments. Opened March 23, FUTR E*SHCK highlights the ecologically damaging effects of e-waste with the help of 3D creations by motion graphic artists NGHTWLK, YELLOSESAME, and MSISTEMA.
NFTS AT SXSW
The recently concluded South by Southwest conference did not lack for NFT content. In the midst of blockchain-related talks and presentations were NFT showcases by Blockchain Creative Labs and Marcel.Art, experiences by Doodles and Zora, and above all, the drop of Dolly Parton’s first crypto collectibles.
Images: Courtesy Sotheby's
LFC HEROES CLUB BY SOTHEBY’S X LIVERPOOL FOOTBALL CLUB
Sotheby’s and Liverpool Football Club have partnered for a set of digital collectibles based on 24 of the squad’s star players. Featuring the likes of Jordan Henderson, Virgil van Dijk, and Roberto Firmino with a variety of generative traits, the LFC Heroes Club NFTs grant its holders access to a LFC fan community, as well as virtual hang-outs, retail discounts, and other exclusive perks. Sale of the tokens opens March 30.
GENESIS NFT COLLECTION BY THE DEAD SEA MUSEUM
The virtual Dead Sea Museum has debuted in the crypto realm with a collection of 100 NFTs, each featuring a photograph of the site, aimed at raising environmental awareness around the ancient salt lake. The sale was launched on March 22, World Water Day, and intends to benefit the museum and efforts to preserve the Dead Sea.
THE ISSUE OF TIME MAGAZINE THAT'S ALSO A NFT
TIME, the magazine with its own NFT initiative called TIMEPieces, has released its March 23 issue as a NFT. Featuring Ethereum co-founder Vitalik Buterin on its cover, the issue was minted in partnership with LITDAO, and will be airdropped to select TIMEPiece and LITDAO community wallet holders.
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EVENT SPOTLIGHT
Upcoming NFT events to watch
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NFT | LA | MARCH 28 - 31 | LOS ANGELES
Over three days, NFT | LA will host more than 60 exhibits and talks featuring crypto creators and thought leaders. Along the IRL conference are various metaverse integrations and performances highlighting the city as a conduit for web3 adoption. LEARN MORE
NON-FUNGIBLE CONFERENCE | APRIL 4 - 5 | LISBON
This event will activate the global NFT community for two days’ worth of talks, workshops, and experiences covering topics ranging from art to gaming. Digital pioneers Kevin Abosch, Obvious, and Mario Klingemann are set to feature. LEARN MORE
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THE INNOVATIVE WAY TO MINT
Created by creators for creators, CXIP is an eco-friendly and standardized NFT minting solution that promises true provenance, identity, and security. The software mints NFTs with unbreakable URLs, permanently stores NFT metadata via IPFS + Arweave technology, and requires each NFT to be signed or authenticated by its artist. Provenance chains are tracked to flag counterfeits, and additional copyright registration with the US Copyright Office is offered. Its PA1D smart contract further allows creators minting with CXIP to collect royalties across marketplaces. LEARN MORE
Sponsored by
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ON OUR RADAR
What's on the NFT horizon
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METAVERSE FASHION WEEK 2022
This weekend will be a big one for Decentraland, which is about to host its first-ever Metaverse Fashion Week. Free and open to all, the event will feature some 60 participants, including Tommy Hilfiger, Dolce & Gabbana, Perry Ellis, and Etro, on virtual runways and in pop-up shops where visitors can purchase the digital wearables on show.
LIMEWIRE AND WINAMP GET CRYPTO MAKEOVER
Limewire and Winamp, one-time fixtures of millennial digital life, have been resurrected in the name of crypto. The file sharing software has been reimagined as a NFT platform, while the latter media player has launched a NFT initiative and is currently auctioning its original 1997 skin as a NFT (for the record, Winamp’s co-founder has registered his “strong disapproval”).
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IN CASE YOU MISSED IT
Catch up on Jing's NFT coverage
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 “It’s not just about hopping into the space and finding success. It’s really taking the time to build and map out a strategy with NFTs to really engage.”
— Chris Cummings
Founder and CEO of Iconic Moments
Here’s What To Know To Meaningfully Engage With NFTs And The Metaverse
The first webinar by JCC and Iconic Moments discussed how institutions could venture onto the blockchain with purpose.
What Art Dubai’s Digital Art Section Signals For The Future Of NFTs At Art Fairs
The art fair surfaced three aspects necessary in a long-term digital art strategy: community, experience, and education.
The Metaverse Brings a New Sense of Urgency to Luxury
With the moment of truth moving from the physical to the digital space, digital mastery is simply not optional anymore. It is the only way to grow in the metaverse.
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