Luxury Fashion House Dior Embraces Ethereum For New Line Of Men's Sneakers

Luxury fashion house Dior has unveiled a new line of men's sneakers that leverages the Ethereum blockchain to offer a matching non-fungible token (NFT).The sneakers, called the B33, are part of Dior's Men's Fall 2023 collection and were designed by Dior Menswear artistic director Kim Jones, the company said in a Friday tweet. What sets these sneakers apart is their unique online authentication system and accompanying NFT. Each pair of shoes will be linked to a "digital twin," a matching NFT minted on the Ethereum blockchain. This means that each pair of sneakers will have a unique digital counterpart, ensuring their authenticity and providing an additional layer of security for buyers. The B33 sneakers will be released in a limited run of only 470 pairs, with each pair priced at $1,350.In addition to the NFTs, six more styles of the B33 sneakers will be released, featuring an NFC chip placed under the sole of the right foot. This chip will be associated with an encrypted key that will grant holders access to a personalized online platform. On this platform, owners will find digital certificates of authenticity for their shoes, as well as other exclusive services that are yet to be revealed. The prices of these additional styles will range from $1,000 to $1,100.Fashion Brands Jump on the NFT CrazeDior's move to embrace blockchain technology comes as its parent company, LVMH, has shown interest in Web3 and crypto. Many LVMH-owned brands, such as Hennessy, TAG Heuer, and Louis Vuitton, have already incorporated blockchain-based features into their products and programs. "Next major fashion brand to jump into web3: Dior," Megan Kaspar, a crypto investor and founding member at Red DAO said. "The approach for brands to integrate web3 into their products quietly is trending."However, what sets Dior's announcement apart is its deliberate avoidance of blockchain-related terminology. Unlike previous LVMH campaigns, which heavily promoted terms like Web3 and NFTs, Dior has chosen not to use these terms in its promotional materials for the B33 sneaker line.While blockchain technology is increasingly popular and accepted, terms like Web3, crypto, and the metaverse can sometimes carry negative connotations or skepticism.By focusing on the product itself and the benefits it offers, Dior might be seeking to tap into the world of blockchain without getting caught up in the baggage that comes with it.Earlier this month, Louis Vuitton announced its first NFT collection, with each iconic-trunk-turned-digital-collectible coming with a tag of nearly $42,000. The fashion giant has prepared a collection of phygital "Treasure Trunks."These NFTs will also serve as access passes to future products, experiences, and the community of holders.There will be "several hundred" trunks available, with each piece costing €39,000 ($41,685). Their owners will not be able to sell them or gift them to somebody else. They can't be returned either.