Hugo Boss, the luxurious fashion icon, has announced a further leap into the world of NFTs through a Web3 partnership with Imaginary Ones, benefiting charity, developing a metaverse and even launching physical clothing. Huge Boss is only the latest of big-name brands to dive into the NFT space, joining the likes of Nike, Adidas, GAP, Coachella, Tiffany & Co, Snoop Dogg, Walmart, Visa, Mastercard, Instagram, Twitter, Starbucks, Disney, Ticketmaster, Time and most professional sports leagues.
“The launch of its first-ever NFT collection marks another significant milestone in the global refresh of the brand in 2022.” – Hugo Boss
Imaginary Ones and Hugo Boss have partnered up on this collection titled “Embrace Your Emotions”, or EYE. Each NFT figure shows a different emotion, with unique art, and has the opportunity of being a physical, real-world item. An interactive metaverse is being built between the two and these 1,000 new NFTs are poised to take over the market.
The idea behind the NFT project is to get people around the world to share their feelings and emotions openly. A special character that brings all five emotions together will be auctioned for Mental Health Awareness Day in the coming week.
Partnerships with global, household-name brands are one of the best things the NFT space can focus on right now to spread awareness and increase adoption. Working alongside a well-established brand like Hugo Boss gives any project instant credibility and a higher chance of staying relevant.
Hugo Boss had previously partnered with NFT group Boss Beauties, whose mission is to spread equality throughout the Web3 space. The branding perfectly aligned between the two entities and the fashion giant began selling shirts with the NFT featured.
Last year, a partnership with Russel Athletic saw Hugo Boss officially enter the decentralized space. KnownOrigin, a growing marketplace, listed the NYC sports-themed NFTs which sold out quickly. The retro-style baseball jackets came with a physical version of the item and a QR code for the metaverse wearable option.
These moves came around the time when Adidas ran a similar partnership with the Bored Ape Yacht Club and Nike acquired RTFKT. Adidas released NFTs of several outfits that would come with the option for physical items as well as metaverse wearables. Nike, around the same time, acquired metaverse shoe company RTFKT. The deal was never disclosed, but rumored to be around nine figures (100M+). Web3 action by both of these major brands has sent excitement through the Web3 ecosystem and pushed more people to join the fun.
Tiffany & Co is one of the many other global brands to be jumping into this technologically driven industry. More recently, in 2022, the jeweler released an NFT of a necklace for 30ETH, or $50,000 at the time. This necklace could be redeemed (burned) for a diamond pendant featuring the owner’s specific NFT. They were only available to CryptoPunk holders and sold out very quickly.
These partnerships help push the space forward and drive exposure for the entire industry. It will be exciting to see how far Hugo Boss goes with this partnership and what that will mean for the broader ecosystem.
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