Cult&Rain's New NFTs are Matched to 2,000 Physical Sneakers
Niko Pajkovic — January 13, 2022 — Fashion
References: cultandrain & footwearnews
Cult&Rain, a digital-forward luxury sneaker brand, is set to launch its first limited-edition NFT collection, which will be tied directly to a redeemable physical sneaker. This unique "phygital" release scheme highlights the brand's mission to "merge crypto with footwear" and alter how consumers engage with the metaverse.
The company was founded by fashion veteran George Yang, who had previously held positions at brands such as John Varvatos and Theory. With Cult&Rain, Yang aimed to combine his love for sneakers with his growing interest in blockchain technology. As a result, he came up with the idea to use blockchain to track sneaker ownership from factory to consumer. Accordingly, Yang even describes Cult&Rain as the “first luxury fashion house born from crypto."
For those interested, the brand's first NFT collection will drop on February 7, and will consist of 2,000 $K animated NFTs matched to 2,000 physical sneakers.
Image Credit: Cult&Rain
The company was founded by fashion veteran George Yang, who had previously held positions at brands such as John Varvatos and Theory. With Cult&Rain, Yang aimed to combine his love for sneakers with his growing interest in blockchain technology. As a result, he came up with the idea to use blockchain to track sneaker ownership from factory to consumer. Accordingly, Yang even describes Cult&Rain as the “first luxury fashion house born from crypto."
For those interested, the brand's first NFT collection will drop on February 7, and will consist of 2,000 $K animated NFTs matched to 2,000 physical sneakers.
Image Credit: Cult&Rain
Trend Themes
1. Phygital Fashion - The trend of blending physical and digital experiences in fashion provides new opportunities to merge the worlds of luxury fashion and crypto technology.
2. Luxury Nfts - The creation of branded NFTs that are tied to high-end physical products provides a new way for luxury fashion brands to engage with consumers and collectors.
3. Blockchain Authentication - The ability to track sneaker ownership from factory to consumer using blockchain technology offers a unique opportunity for brands to enhance authentication and combat counterfeit products.
Industry Implications
1. Fashion and Luxury - The fashion industry has opportunities to utilize blockchain technology and NFTs to create unique buying experiences and brand engagement opportunities.
2. Crypto Technology - Crypto technology industries have an opportunity to collaborate with luxury fashion brands to create innovative products and experiences that merge physical and digital worlds.
3. Supply Chain Management - Industries in supply chain management have the opportunity to explore using blockchain technology to authenticate and track high-end products throughout the entire production and distribution process.
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