- Dolce & Gabbana’s digital suit will be converted into fractional NFTs
- Fermion Protocol will do the fractionalization
- The suit was worth $1 million in 2021
A digital suit worth $1 million made by Italian luxury fashion house Dolce & Gabbana (D&G) will be converted into fractional NFTs. Fermion Protocol, a platform that focuses on tokenizing assets on the blockchain will conduct the fractionalization. Powered by Ethereum scaling layer Base, the protocol will airdrop a section of the NFTs to its users and “web3 fashion communities” among others, in a move meant to market the protocol.
The Glass Suit is a “Genesis Asset”
The suit, known as the “Glass Suit,” was awarded to Boson Protocol in an auction in 2021. Boson won the physical and digital versions of the garment. Fermion, also founded by Boson’s creator Justin Banon, will use the suit as its springboard to tokenize other luxury goods.
In an X post, D&G said that the “million-dollar Glass Suit” is its “genesis asset” as it prepares to launch Base-powered mainnet this week.
3/ Q1: Multi-Chain Mainnet & Genesis Asset Launch 🔥
● Fermion mainnet goes live this week, first on Base, then expanding cross-chain
● Genesis asset: Dolce & Gabbana’s million-dollar Glass Suit
● Fractionalized and airdropped to the community
● Distribution powered by…— Fermion Protocol (@FermionProtocol) February 18, 2025
According to Banon, there’s a need to increase the bond with the luxury community. He added that there’s “a declining feeling of exclusivity” among the luxury goods’ community.
Banon believes that fractionalization presents a way to boost the consumption of luxury goods without compromising on verification of vintage goods.
Fermion said fractionizing the Glass Suit is the beginning as it plans to collaborate with leading luxury brands. It added that it’s working on an “Ecosystem Orchestration Kit” that will capture the whole tokenization chain “from raw materials to final products.
D&G Follows Louis Vuitton Into NFTs
D&G isn’t the only luxury brand whose products have found their way into the digital and web3 space. Louis Vuitton, for example, announced a phygital NFT collection. The collection gives NFT collectors access to the physical items.
The Glass Suit fractionalization move comes a year after a report revealed that luxury brands are turning to blockchain and AI to enhance product authenticity and increase customers’ trust.
With the D&G Glass Suit converted into fractional NFTs, it’s to be seen whether other luxury fashion houses will follow the same path.
