With NFT.NYC in full swing, this week featured a host of high-profile activations from the likes of Gmoney’s 9dcc and denim mogul Wrangler, which teamed up with artist Jeremy Booth. The event, which ran from April 12-14, saw some of the biggest leading players in Web3 take over the Big Apple and amp up their visibility in the meta-space.
In other news, Patou has teamed up with metaverse tech platform The Ordre Group to add digital verification IDs to its products. Will more brands adopt blockchain technology to fight against the counterfeit and “dupe” industries?
Finally, Ralph Lauren’s new Miami store has partnered with Web3 service Bitpay to officially allow crypto as a payment tender. To celebrate, the label teamed up with exclusive digital members club Poolsuite on an NFT giveaway. The asset can be used later this month as a pass into the partnership’s token-gated event. The project is part of the brand’s wider ambitions to build its new Miami boutique into a Web3-centric experience for customers, as more competitors begin to shift their focus to how they can elevate their brick-and-mortar hubs using the metaverse.
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Patou Turns To Digital IDs And Metaverse Technology For Product Verification
What Happened: Following news of Kering’s deeper dive into Web3, LVMH is getting onboard too. Luxury label Patou, owned by the luxury giant, announced on Tuesday that it will implement a new digital verification technology into its product line. Working in partnership with The Ordre Group — a technology-first platform that aims to power the fashion metaverse — the brand unveiled its Authentique Verify initiative, which will see the label introduce unique digital IDs for its products that, upon presentation of proof of purchase, will be transferred to their owners’ smartphone to validate digital ownership.
The IDs will also enable customers to access information such as product specifications, sustainability pledges, styling videos, and warranties. To mark the move, Patou has released two new bag styles in collaboration with stylist Sita Abellán that use deadstock leathers and organic cotton to mimic the effect of denim, both featuring the Authentique Verify tech.
The Verdict: Patou is following in the footsteps of Chanel and other major luxury labels, which are integrating digital IDs into their products to tackle rising counterfeiting challenges. With forged goods becoming increasingly difficult to distinguish, plus the recent rise of “dupes” — a trend that has accelerated over the past year thanks to social platforms like TikTok — labels are turning to Web3 and blockchain-based technologies to push back.
With this in mind, it’s likely that more luxury brands will incorporate assets, such as near-field communication (NFC) chips, into their products to help guarantee authenticity.
Ralph Lauren Celebrates Miami Store Opening With NFT Collaboration Alongside Exclusive Virtual Club Poolsuite
What Happened: Ralph Lauren’s new Miami District store will be accepting crypto payments as an official tender, marking the first time the label has offered the option to consumers. Using crypto payment platform Bitpay, the store is allowing purchases using Bitcoin (BTC), Ethereum (ETH) and Polygon (MATIC), which can all be refunded in the cryptocurrency that was originally used. The service also ensures that refunds are equal to the total amount that was paid, avoiding turbulent crypto fluctuations. In addition to its online currency expansion, the boutique has also partnered with Web3 startup Poolsuite. To celebrate the launch, a Ralph Lauren x Poolsuite NFT was gifted to around 3,000 Poolsuite community members, with each token unlocking access to a private party that takes place later this month.
The Verdict: The drop is another example of how luxury brands are pressing ahead with projects that target Web3 native audiences, as the sector continues to crack the digital divide. As shown by Gucci, which recent plunged into the metaverse in partnership with Yuga Labs, this year could potentially see the industry invest more attention into niche online communities like Otherside and Poolsuite. With luxury’s conventional consumer market still weighing up the value of Web3, it’s a clever move that could see brands maintain their virtual charm and uncover new, profitable opportunities.
Wrangler Teams Up With Artist Jeremy Booth On Limited-Edition Phygital Jacket Collection
What Happened: Wrangler, which has maintained its iconic cultural status since its launch in 1947, and artist Jeremy Booth have dropped an NFT wearable collaboration as part of their new multi-tiered partnership. Developed alongside LTD.inc and Proof Of Attendance Protocol, the duo’s phygital “Western Art Dept” denim jacket features an NFC tag connected to an NFT artwork. The artist’s fanbase was invited to meet up with Booth at NFT.NYC; the first 300 collectors to do so could claim an exclusive cowboy boot NFT designed by Booth.
The Verdict: The collaboration is a match made in American heaven, thanks to Wrangler’s Western roots and Booth’s stylized illustrations that are heavily-inspired by the region. Keeping in line with their old-school American cues, the physical jacket was crafted using some of the last selvedge denim fabric in the US.
The artist teased the collab on his Instagram account in February, receiving positive responses from his followers. Since then, the collaboration has generated a notable amount of hype from Booth’s community (who the drop seems to be more positioned towards rather than Wrangler’s consumers), which has since been recognized. As a result, the duo have announced that a limited edition drop of the jackets will be made available to the public soon.