The Inner Circle

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  • 1.  Luxury NFT's

    Posted Dec 02, 2021 10:54:00 AM

    The concept of NFTs has puzzled me for quite some time. I can't help but wonder why someone would purchase a digital piece of art when they could download the jpg or screenshot the asset from the internet. What I've come to realize is it is the same reason why people opt into buying a $5,000 Chanel purse instead of going down the street and buying a dupe from the guy selling them out of the back of his trunk. Authenticity matters to us because of the exclusivity of ownership. 

    One of the unique features of an NFT is content ownership. So I thought about an interesting use case that I think could be valuable to the digital art market. I constantly see artwork utilizing the brand logos of luxury companies like CHANEL, Louis Vuitton, Gucci, etc. This art repurposes the iconic patterns in various ways. While anyone can repurpose these patterns in artwork simply by going online and making a copy of the jpg, then it takes away the exclusivity and authenticity that luxury brands stand for.

    My thought is what if luxury brands like CHANEL, Louis Vuitton, and Gucci entered the NFT space by providing those iconic patterns for purchase. Creating this as an NFT would prompt artists to purchase for its use giving their artwork a bit more credibility and legitimacy, knowing that the pattern came straight from these luxury brands.

    #nft #digitalart #blockchaintechnology 


    Olivia Rempe

  • 2.  RE: Luxury NFT's

    Posted Dec 03, 2021 08:37:00 AM

    Good post. The content ownership piece is key. 

    I foresee an opportunity and environment where the real fashion collectors will soon along with physical products, also take "home" some sort of digital "certificate of authenticity" and "certificate of ownership" with their purchase .. in the form of an NFT. Which can be resold along with the physical item. 

    Michael Tayo
    Information Security Analyst
    Tempus Labs