CFDA Enters Web3 Turf with Its First NFT Collection

CFDA Enters Web3 Turf with Its First NFT Collection

Published: December 15, 2022

The Council of Fashion Designers of America, Inc. (CFDA) will host a virtual fashion exhibition beginning December 19. That puts the trade association shoulder to shoulder with other major players in the fashion industry that are investing in digital assets and experiences.

CFDA has released its first NFT collection just days ago, announcing the association’s brave venture into web3 and blockchain territory. It will follow up with a “metaverse fashion exhibition” in The Sandbox next Monday.

The Polygon Studios blockchain platform will assist in the development of the two campaigns launched in celebration of the CFDA’s 60th anniversary.

“As part of the CFDA’s commitment to innovation and … mission towards the future growth of the fashion industry, this watershed moment will guide America’s design talent towards new technologies and virtual worlds bridging culture and fashion and integrating designers and brands into web3,” the CFDA stated on December 1, when the two campaigns were originally announced.

The “Lighting the Path of American Fashion” NFT collection features seven tokens that can be used for bidding through Friday, December 16. Legendary fashion designers the likes of Coach, Michael Kors and Vivienne Tam have participated in the development of each token, enabling what the CFDA describes as “unique utility perks that allow unprecedented access.”

Of those seven tokens, five have a starting price of $25,000 and the other two begin at $15,000. All proceeds will go to the CDFA Foundation, reportedly “created to raise funds for charity and industry activities.”

After that comes the launch of “Fashioning the Shades of American Design” in The Sandbox, a blockchain digital world. Visitors to the virtual world will be “invited to explore this retrospective celebrating the creativity of CFDA members past and present, which have been organized into five themes: Illuminating a Fantasy, Illuminating Romance, Illuminating the Avant-Garde, Illuminating Understanding and Illuminating Soul.”

According to the trade association’s website, CFDA has a membership of over 500 fashion designers and is one of many fashion organizations slowly gaining a foothold in web3.

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