Balmain Releasing NFT Sneakers

Balmain, a luxury French fashion brand, will unveil its third NFT on December 8th, 2021. The Balmain NFT will include VIP experiences and a pair of trainers. Balmain NFT was revealed in Vogue magazine. It will allow the iconic brand to join other brands entering Metaverse.

Balmain’s Upcoming NFT Venture

Balmain has just revealed in a Vogue article that they will be releasing their third NFT, in the form of two pairs of trainers. These trainers will launch alongside the physical release. VIP experiences, centered around Fashion Brands’ collaboration with Dogpound, will be offered along with the NFTs.

OpenSea, an NFT marketplace, and auction house will release the NFTs on December 8th, 2021. Balmain will offer personal training sessions with Kirk Myers (founder of Dogpound), in order to help the NFTs sell out. This will happen only if the NFT reaches six ETH.

The winner will be given tickets to the company’s fashion show if the NFT reaches more than ten Ethereum. If the NFT exceeds fourteen ETH, or in fiat currency, around $57,000 today, the winner will receive two tickets backstage.

Balmain’s entry into the NFT market was not surprising, as market rivals such as Burberry are also selling theirs. Investors in the market can reap huge rewards. One of NFT’s brands, the flame dress, sold last month for an astonishing $17,660.

NFTs are changing the fashion industry. NFTs will soon be popularized by other fashion brands like Nike and Adidas.

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