Balmain is releasing their third NFT project | Source: Balmain/Vogue Singapore

Balmain Set to Launch Its Third NFT

Balmain is proving it will keep up with the growing popularity of non-fungible tokens after announcing the launch of its third NFT project in an article in Vogue.

Set to be released on December 8, the NFT will be a pair of trainers, accompanied by “VIP experiences, linked to its upcoming collaboration on a physical pair with celebrity gym Dogpound.”

Balmain isn’t alone in this move towards the ‘metaverse.’ Burberry and Louis Vuitton both jumped into the world of NFTs through their respective video games, Gucci sold off a pair of virtual sneakers earlier this year and Patek Philippe digitised its Nautilus in NFT form in November.

Following on from the release of in-game items and a ‘flame dress’ NFT, Balmain’s latest release will include two pairs of sneakers which will launch alongside the physical drop of the trainers which are signed by the Creative Director, Olivier Rousteing.

According to Vogue, the two NFTs will be auctioned through a digital marketplace, Opensear, and once reaching at least six Ethereum, will come with a personal training session with the founder of Dogpound, Kirk Myers. If the auction surpasses 10 ETH, the buyer will receive two tickets to an upcoming Balmain fashion show, and if the winning bid is more than 14 ETH, the buyer will get two backstage passes.

The luxury fashion brand’s first NFT, the ‘flame dress’, sold for 23 BNB which is approximately A$17,660 at the time of writing.

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