DressX Forges NFT Partnership With Crypto.com And Launches With Farfetch
NFT’s first made a splash with art, sports, and entertainment. Now fashion is getting in on the digitally centric exclusive works of art. The latest stride of the tech-fashion union arrives via a partnership between Crypto.com, a leading marketplace for collecting and trading non-Fungible tokens or NFT’s and DRESSX, the pre-eminent platform for digital fashion have paired up to ensure purchasing and trading the unique files of digitally wearable clothing is a seamless transaction.
With these fashion NFT’s, the union may signal the birth of digital Haute Couture. The partnership will establish a DRESSX NFT store on Crypto.com/NFT. The inaugural DRESSX virtual clothing collection includes styles inspired by Elon Musk’s private aerospace manufacturer SpaceX which will be available for a limited time beginning August 29th, 2021. (Thus, theoretically making it possible for anyone to appear in the digital duds ready to take a private tour of Space a la Musk.)
Additionally, launching today will be digital fashion as part of Farfetch’s new Pre-Order platform. DRESSX digitized 20 menswear and 20 womenswear pre-order looks from the latest collections from Off-White, Balenciaga, Palm Angels, Dolce & Gabbana, Khaite, and Nanushka for the launch. “Additionally, we created an editorial photoshoot and video featuring precise digital twins of the physical designs and initiated a digital influencer campaign featuring multiple luxury brands to promote the pre-order collection without any physical materials, unnecessary shipments, or damages for the environment,” said DRESSX co-founder Natalia Modenova.
If Farfetch represents the digital wholesale partnership, the Crypto.com partnership is more of a digital shop-in-shop where DRESSX can offer artworks or styles created in-house or by traditional fashion designers and brand collaborations. When the NFT craze took off earlier in 2021, Crypto.com examined how they could join forces and provide more opportunities to use or ‘wear’ digital clothing. “We came up with this format being passionate about providing new opportunities for the adoption of AR fashion and NFTs, that have never been introduced before. The owner of the NFT exclusively can wear digital fashion items in DRESSX,” explained Modenova.
Crypto.com NFT is another newcomer platform that carefully curates collecting and trading non-fungible tokens made by creators, celebrities and brands— including the Aston Martin Formula One Team, Beatport, BossLogic, Boy George, Diego Perrone, Lega Serie A, Lionel Richie, Mr. Brainwash and Snoop Dogg, among others. Established in March 2021, Crypto.com NFT is powered by Crypto.com — which serves over 10 million customers with the world’s fastest-growing crypto app, the Crypto.com Visa Card, Exchange, and DeFi Wallet. According to Crypto.com’s Senior Director of NFT Acquisition, Jeremy Lewis, DRESSX is the partner that shares synergies and brand ethos that stress the intersection of NFTs, sustainable fashion, and technology.
“Founders Daria and Natalia are incredibly savvy entrepreneurs who understand the NFT space,” said Lewis. “DRESSX has built an inspiring platform with an admirable mission, and there is no better brand to introduce our users to the world of digital fashion. This is just the beginning of what will be a very exciting and fruitful partnership with limitless possibilities.”
The styles DRESSX presents also draw from designers of both the digital and physical space. “Both digitally-native designers and traditional designers explore the Metaverse together with us,” said DRESSX co-founder Daria Shapovalova citing Alexander McQueen’s nephew Gary James McQueen. “His first ever digital fashion collection was available for purchase straight off the digital runway only at dressx.com.
Also, we partnered with the French Haute Couture designer Clara Daguin, digitizing the collection. Via AR in our newly launched app during Clara’s physical presentation at Paris Couture Fashion Week in July, guests could try on the one-of-a-kind pieces themselves in the real-time photos and videos via the DRESSX app.”
She also noted brands use the platform for marketing opportunities rather than the digital design itself. For example, an American leisurewear brand Lunya used the platform to execute a digital influencer marketing campaign, digitally dressing more than 50 influencers in the brand’s first-ever print collection.
Modenova added they also launched limited edition digital only sneakers with physical brand Buffalo London shoes. The digital version of it was developed by digital fashion house The Fabricant. DRESSX provided the unique opportunity to purchase and wear it with the official outfit of Australian Fashion Week. The outfit was co-created by buzzy Australian designer Tony Matichevski. For the collaboration with Crypto.com, the in-house team created the first NFT collection drop under the DRESSX brand.
The duo maintains digital fashion can compete with physical fashion for the same reasons—newness, innovation, and accessibility—creating the same desirability. “Launching NFT—naturally exclusive and limited in number of copies— we provide additional uses for the NFT collectors to wear their fashion looks on real-time photos and videos, anywhere on the DRESSX app. This way, when purchasing an NFT, the client adds new artwork to their collection but unlocks new possibilities for digital fashion stored right on their phone. Unlike physical couture, which is very limited in its use-cases, digital fashion provides a room for creativity and introduces unlimited opportunities for self-expression,” asserted Modenova.
DRESSX was founded in July 2020 by Daria Shapovalova, the creative director/founder and CEO of Mercedes-Benz Kiev Fashion Days and More Dash, a wholesale buying and pr agency. Natalia Modenova also co-founded More Dash and worked alongside Shapovalova at Mercedes-Benz Kiev Fashion Day. Their shared experience in Ukraine’s emerging fashion and tech sector via the Fashion Tech Summit, help pave the way for the idea that social media and other digital presences were ripe for fashion consumption that didn’t damage the environment. In July 2021, they raised 2 million dollars in a seed round funding.
Rather than pay for a physical garment, buyers pay for digital content that can appear they are physically wearing an outfit. With the idea launching in 2019, the platform took off during the pandemic when consumers engaged in digital spaces more than ever. The platform recently announced a partnership with the digital fashion avatar gaming system MOD4, supported and backed by Luisaviaroma. Ideally, DRESSX satisfies that urge to present newness in content without adding to the mountain of waste created by the fashion industry.
The partnership with Crypto.com for NFT’s essentially creates one-of-a-kind digital haute couture, which begs to ask how does one replicate fashion weeks. Naturally, such an event would be digital-only, something the pandemic helped fuel when in-person shows were mainly cast aside for digital presentations. Shapovalova and Modenova saw this coming before Covid-19 upended a system in need of evolution. “It’s been a while since fashion shows were first fueled and then replaced by social media activity and content. Hence, it is natural that the drop of the digital fashion that we do with Crypto.com starts with digital-only fashion and digital-only content.”