Global luxury fashion brand Jimmy Choo has launched its first-ever Non-Fungible Token (NFT) collection on the Binance NFT marketplace.
As announced by Binance, the collection will be available for six days, and the NFT was launched in collaboration with New York artist Eric Haze.
The world of Non-Fungible Tokens is gradually expanding, with global brands exploring avenues to join the train. The offshoot of blockchain technology represents a unique way for creators of all kinds to own transferable copyrights to their creations and receive the proper compensation for their work.
Many entertainment brands are exploring NFTs by utilizing them to recreate the utilities of their products and services as they seek to connect with more users around the world. The debut of the first NFT collection by Jimmy Choo identifies with the power of blockchain to expound innate creativities.
“This collection celebrates the ultimate punk glam where luxury embraces street art’s perfect imperfections. The NFT collection includes an exclusive auction and a mystery box series,” the announcement reads.
The item for auction features a digital version of a sneaker produced for the JIMMY CHOO / ERIC HAZE CURATED BY POGGY collaboration. The sneaker was listed on the Binance NFT marketplace with a current bid of 5000 BUSD at the time of writing. The sneaker is rotating against a canvas of Haze’s signature script and only exists digitally.
Additionally, there are 8,888 Mystery Boxes for purchase, divided into four tiers of scarcity: a single super-super-rare Jimmy Choo / Eric Haze LOVE 100 Glitter, super-rare cards, rare cards, and neutral cards.
The advance in NFTs is an affair that is becoming prominent on all blockchain networks beyond the Binance Smart Chain (BSC) network. Despite the debut of NFT marketplaces by centralized exchanges like Coinbase, Crypto.com, and FTX, to mention a few, NFT transaction volumes are growing remarkably across legacy marketplaces, including OpenSea. This shows the increasing demand for digital collectables and the emergence of marketplaces to meet these demands.
The proceeds from the auction are billed to be donated to The Jimmy Choo Foundation in support of Women for Women International, helping women survivors of war rebuild their lives.
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