MINI, DIGITAL ME: Karl Lagerfeld’s imposing personal style — dark suits and sunglasses, set off by white shirts and a white ponytail — translates well into toylike figurines, including virtual ones.
Timed to coincide with the late designer’s birthdate, the brand is launching its first NFTs at 3 p.m. CET on Friday in the form of digital figurines. The limited-edition, animated caricatures are to be sold on The Dematerialised, a digital fashion marketplace.
The first version of the collectible will be priced at 77 euros and available to 777 consumers, seven being Lagerfeld’s lucky number. According to the Lagerfeld company, collectors will be able to update the figurine’s look and wardrobe through subsequent digital drops.
The second version, sold at 177 euros in an edition of 77, is considered a premium version of the avatar with a chrome finish, an otherworldly glow and futuristic surroundings.
Owners of the avatars, and iPhones, will be able to share images of their figurines in various environments using augmented reality technology.
The NFTs wink to the designer’s penchant for the latest technology, and his self-assessment of his graphic personal style: “I am like a caricature of myself, and I like that.”
During his lifetime, Lagerfeld immortalized himself in many ways; with Tokidoki, the Italian maker of Japanese-inspired collectible figurines; as a biker-jacket-wearing doorstopper, and as fur charms at Fendi.
The NFTs are considered part of the Lagerfeld brand’s Ikonik collection, which spans clothing, leather goods, accessories and trinkets bearing his likeness.
“Blockchain has opened the doors for new forms of consumption and production, and this collaboration is a tremendous milestone for the fashion industry entering the dematerialized world,” commented Marjorie Hernandez, cofounder of The Dematerialised.
The Dematerialised platform is powered by the Lukso blockchain, prized for its energy efficiency and commitments to sustainability. In that vein, a mangrove tree is to be planted following the purchase of each NFT to offset the carbon footprint.
The Lukso blockchain is also being used to register the Karl Lagerfeld photographic archive, as reported.
NFT stands for non-fungible token, a piece of data that’s not fungible, or replaceable, that can act as a digital certificate of authenticity and ownership for a particular asset. Because the token lives on the blockchain, a decentralized digital ledger that logs transactions, it can’t be copied or hacked.