NFTs have slowly made their way into the fashion and beauty worlds with indie labels experimenting with the digital currency. Now, the new craze is making an impression on heritage brands.
Krigler, a luxury fragrance brand that’s been creating scents since 1904, has added NFTs to its luxury fragrance leasing option. The initiative allows customers to lease an archival Krigler scent for exclusive access and gives them an NFT option as an extension of the service. The NFT is a digital video of the leased fragrance.
“[NFTs] for us are the perfect way to create an artistic certificate with the description of the fragrance and the inspiration behind it,” said Ben Krigler, who heads the fragrance house. “For a collector such as our clients, it’s the most unique way to preserve the memory of that fragrance. Some people collect perfume bottles and antique ones. The NFTs for us are a new form to express our creativity.”
Krigler said he was inspired to start creating the NFTs because his brand’s clients were interested in them and work in Blockchain, a cryptocurrency service.
The archival fragrance and NFT that Krigler leased this year is its Krigler Grand Bonheur 54, a scent originally created in 1954 for a wedding of a Greek banking heir. The client, which purchased the fragrance and NFT for $8,000, will have ownership of both for a year. Krigler has sold two other NFTs this year, with prices starting at $8,000 and the valuation later fluctuating between $25,000 to $150,000 based on changes in cryptocurrency.
NFTs, non-fungible tokens that are a type of cryptocurrency that can be used to purchase digital goods, have slowly made their way into the fashion and beauty industries. Models like Kate Moss, Cara Delevingne and Emily Ratajkowski have all experimented with the digital currency. Last month, Gucci released its first NFT during Christie’s online auction, Proof of Sovereignty. The NFT was a digital animation drawn from Gucci Aria, the design house’s latest fashion collection presentation.
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