How can NFT change the world of luxury brands?

Maciej Zieliński

02 Sep 2022
How can NFT change the world of luxury brands?

Luxury brands and NFT are a great combination that is growing in popularity. Interestingly - fashion designs and companies are implementing NFT faster and more enthusiastically than in other industries. There seems to be a consensus that Web3 will undoubtedly play a huge role in their future. Both fashion and NFT operate on a model of exclusivity and rarity, which may explain how receptive this field is to the technology. At the same time, other "classic" companies are reluctant to engage with Web3 and its derivatives.

Fashion digitizes projects 

Nearly 2.5 billion people have already participated in one way or another in the virtual variety of the broader economy, which is the direction of the world's evolution. There is no doubt that brands need to find their way in the online parallel world, just as they do in the real world. With the advent of digital transformation, luxury has slowly entered this change. Unlike mass companies that have quickly adapted to e-commerce and social media, there are many reasons why many luxury brands are still lagging. Perhaps the biggest challenge facing luxury fashion brands today is how best to recreate the luxury experience in a non-physical form.

What opportunities do the Metaverse and NFT present for luxury brands?

The merging of the physical and digital worlds through the Metaverse platform is quickly becoming an important opportunity for luxury brands. To meet the expectations of luxury goods consumers, brands with such characteristics need to ensure the highest quality of their online experience - for example, personalizing or customizing it through interactive chat or technical support. In addition, luxury goods consumers are accustomed to acquiring tangible goods through shopping. The advent of coins has broken the long-established model of single ownership of exclusive items while ensuring the rarity of virtual things. NFTs prove ownership of assets to their owners and register them in open-source blockchain technology. In this way, the tokens represent a new system for tracking ownership while preserving the notion of exclusivity that the luxury industry has historically used. The entry of exclusive brands into the NFT market is part of their digital strategy, with the introduction of NFT creations expanding their virtual presence and boosting digital creativity.


Brands have gradually entered the Metaverse to showcase their virtual representatives and NFT products. Prada announced that it had partnered with Adidas Originals to launch a "first of its kind" NFT project. Balmain has partnered with Barbie to offer three unique avatars of the famous doll, with NFT deals in their case costing around $2,000. But while most brands have largely abandoned digital characters or virtual fashion elements, Louis Vuitton has entered the virtual world more engagingly - as it created its own video game.

Examples of luxury brands implementing NFT

Luxury brands are aware of the market, as their advisors have followed consumer interests for years. So it's no surprise that global giants are getting into NFT. Below are companies that have expressed broad interest in blockchain technology and have implemented, implemented, or plan to implement NFT! 

Gucci uses NFT 

Gucci is no stranger to the concept of NFT. The brand first entered the digital market in May 2021, when it released a token film inspired by the Aria series as part of Christie's prestigious Proof of Sovereign sale, headlined by Lady PheOnix. The film was co-directed by Gucci creative director Alessandro Michele and award-winning photographer Floria Sigismondi. The extraordinary piece showcases Michele's Aria collection. Gucci's next NFT project occurred on January 18, 2022, when the company partnered with vinyl toy manufacturer Superplastic to sell 10,000 NFTs called SUPERGUCCI. It's a three-part limited series of digital NFT characters co-created by Michele and Janky & Guggimon of Superplastic - digital characters whose adventures were described initially in CryptoJankyz from Superplastic at Christie's. The NFTs in the collection allows owners to unlock handcrafted white ceramic sculptures 20 cm tall to accompany their digital counterparts. Gucci then launched the 10KTF: Gucci Grail Mint Pass collection in March 2022. The project is a collaboration between digital creator Wagmi-san and Michele to create custom PFP digital apparel based on 11 of the NFT community's most famous designs. Only those who own a PFP from one series will receive a designed mint pass that can be used to purchase a personalized NFT. Moreover, Gucci recently announced a partnership with SuperRare for Vault Art Space. After purchasing $25,000 in RARE tokens to join the SuperRare DAO, Gucci plans to use the Vault Art Space to host exhibitions of NFT artists. 

Yvel - digitizing jewelry  

On June 13, 2022, jewelry company Yvel introduced INFS (independent non-transferable securities) for trading between consumers and businesses. To do so, the company has taken a slightly different approach to the NFT space, creating digital securities that act as non-functional financial products. These NFT-like tokens are physically backed by 24,000 gold coins worth $10,000, decorated with diamonds and other precious stones. The idea is that security backed by physical assets will give digital assets stability, even when the market fluctuates. During the launch of the pre-sale platform in early June, 2,500 coins were issued to accredited investors. These coins will serve as a model for how INFS will operate in the future, driving financial products on the platform. Notably, the tangible guarantees of stablecoins are configurable. This means that investors or companies using the INFS Yvel platform can customize the guarantees according to the market and trends that are currently taking place. Therefore, instead of supporting their non-transferable securities with gold coins, they can support their non-transferable deposits with real experience, products, and profit sharing. The idea is relatively fresh and is slowly gaining more and more supporters.

Clubhouse Archives, Inc - NFT range for a select few 

Club Archives Inc, a blockchain-based NFT luxury apparel brand, recently announced the launch of its marketplace to allow users to purchase a select assortment of luxury apparel. Starting July 13, 2022. Genesis Mint is shortlisting 1,880 digital tokens that will serve as lifetime memberships. Pass holders are gifted with certain amenities, including administrative capabilities, access to exclusive events, and a perpetual share of sales and royalties. By linking NFT to physical goods, every luxury collection launched on the Clubhouse Archives platform will feature 3D clothing made in Italy. The collections that will appear on the platform will be created by designers and voted on by the community, allowing them to play an active role in the development of the brand. The Clubhouse Archies team includes designer and artist James Costa, NFT creator Greg Mike, former Golf Digest fashion director Marty Hackel and more. The platform's first collection will focus on golf sportswear, which is "infused with countercultural luxury streetwear." The forum will use Crossmint as its official trust wallet and payment platform.

Balmain leverages NFT for consumer relations.

French fashion house Balmain recently announced its entry into the NFT game with the announcement of Non-Fungible Thread, an NFT-based fashion ecosystem for those who own Balmain clothing. Collection tools are still under development. Some candidates include digital apparel converted to physical and shipped to their door. Consumers get exclusive collector invitations to future Airdrops and cocktail parties with digital fashion designers. One of the driving forces behind Non-Fungible Thread (still in development) is James Sun, founder and CEO of MINTNFT, an organization dedicated to building Balmain's Web3 vision. Sun believes that for Balmain to distribute NFT on OpenSea or Rarible is a poor way to create a unified community around NFT. The luxury brand seems more focused on building long-lasting relationships with its customer base and creating interactive and engaging experiences for the community, whether digital, physical or a combination of the two. As for the project and how Balmain will implement it, there is much more to come.

Prada - joining forces with Adidas and NFT 

Prada has already made some attempts in the NFT field this year. In January 2022, the company partnered with Adidas Originals on a token project involving 3,000 community-created artworks. These pieces were used to create a unique 1-of-1 NFT by artist Zach Lieberman, which included more than 3,000 images and was sold for 30 ETH. On June 2, 2022, Prada went a step further and released 100 NFTs to coincide with the launch of its latest Timecapsule clothing line, which consists of 100 unisex button-up shirts designed by artist Cassius Hirst. Customers who purchase the collection will automatically receive a free Airdrop NFT, which includes the token serial number and the number of the physical T-shirt it comes with. Details on the availability of the coins are sparse, but the brand's Discord will be revealed to Prada Crypted members in time. The company also mentioned exclusive offers, experiences, and access to future issues.


Luxury brands are immersing themselves more and more in the NFT space. They have generally done a great job using technology to interact with their celebrity watchers creatively. While other non-Web3 industries may be less adept at implementing and utilizing blockchain-based technologies, they should still closely examine how the brands we mentioned in this article can fit in and consequently flourish. By the end of 2025, about 40% of consumers will own digitized luxury goods. Hopefully, this direction of NFT is the future of many exciting projects. 

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What is Account Abstraction?


10 Nov 2023
What is Account Abstraction?

Account abstraction is a new way of thinking about how users interact with blockchains. Instead of using traditional externally owned accounts (EOAs), account abstraction allows users to create and manage their accounts using smart contracts. This has a number of potential benefits, including improved security, enhanced privacy, and increased flexibility.

What is account abstraction?

Account abstraction is a concept that, at its core, aims to simplify the user's interaction with blockchain networks. It is a transformative approach that seeks to mask the technicalities of blockchain operations from end-users. It is making transactions as straightforward as sending an email. Account Abstr. allows users to interact with the blockchain without worrying about the underlying technical details.

How does account abstraction differ from the traditional model?

In the traditional account model, each user has an EOA. EOAs are controlled by private keys, which must be kept secret in order to protect the user's funds. Acc. abstraction allows users to create and manage their accounts using smart contracts.

Historical Context

The journey towards acc. abstraction began with the first generation of blockchain technologies, characterized by their "one-size-fits-all" approach to account management. Bitcoin, for instance, introduced the concept of accounts and transactions in a form that was accessible to tech-savvy individuals but remained perplexing to the layperson. Ethereum expanded on this by introducing smart contracts, which opened the door to programmable transactions but did not alter the fundamental account structure. The idea of acc. abstraction has been discussed in the Ethereum community for several years as a part of various Ethereum Improvement Proposals (EIPs), particularly as a feature to be potentially implemented in Ethereum 2.0. It is a direct response to the need for a more versatile and user-centric design that can cater to a broader audience and spur the widespread adoption of blockchain technology.

The Technicalities of Account Abstraction

Account abstraction is not merely a theoretical construct but a technical innovation with specific mechanisms underpinning its operation. In essence, it alters the way transactions are initiated and executed within a blockchain network.

How Account Abstraction Works

Under traditional blockchain models, initiating a transaction involves an externally owned account (EOA) signing a transaction with a private key. This transaction is then broadcast to the network for validation and inclusion in the blockchain. Account abstraction, however, replaces this process with a more flexible one. Here, every account is a smart contract, and transactions are messages sent through these contracts. These smart contracts can encode complex rules for transaction validation, beyond what EOAs can do, such as multi-signature requirements or conditional transactions based on certain triggers.

The technical crux of account abstraction lies in the smart contract’s ability to define its own conditions for transaction execution. This means that user accounts can have unique security protocols or automated operations without the user needing to understand the underlying smart contract code.

Hey! Are you interested in the latest technologies in the blockchain area? be sure to read the article 'Top Zero-Knowledge Proof Projects to watch in 2023'

The Benefits of Account Abstraction

The implications of account abstraction are profound, offering a range of benefits that can enhance the blockchain experience for users and developers alike.

Improved User Experience

One of the most significant advantages of account abstraction is the improvement it brings to user experience. By abstracting away the complexities of key management and transaction rules, it presents a more intuitive interface for users.

Enhanced Security Features

Account abstraction also allows for the implementation of advanced security measures. Since each account can define its own logic, users can tailor their security settings to their specific needs. For instance, one might set up an account that requires additional verification for transactions exceeding a certain value or restricts withdrawals to certain addresses.

Future Implications

The future implications of account abstraction are vast. As the technology matures, it could become a standard feature of blockchain networks, potentially making the current distinction between user accounts and smart contracts obsolete. This could lead to a new wave of blockchain applications that are both powerful and accessible, bringing us closer to the vision of blockchain technology as a seamless part of everyday life.

Challenges and Considerations

Technical Limitations

One of the primary technical challenges of Acc. abstraction lies in its integration with existing blockchain protocols. Current networks are optimized for the EOA model, and introducing a new account structure necessitates significant changes to the core protocol. This includes modifications to the way transactions are propagated in the network, how gas fees are calculated, and how the state of the blockchain is managed. Ensuring that these changes do not compromise the network's performance or security requires careful planning and extensive testing.

Compatibility with Current Systems

Another consideration is the compatibility of account abstr. with the vast ecosystem of existing blockchain applications and services. Wallets, exchanges, and other services have been built around the traditional account model. Transitioning to an acc. abstraction model will require these services to update their infrastructure, which may be a complex and resource-intensive process. Furthermore, there is a need for standardization across the industry to ensure that different implementations of account abstr. can work seamlessly together.


Acc. abstraction represents a significant leap forward in the quest for a more user-friendly blockchain experience. By streamlining the transaction process and offering enhanced security features, acc abstraction has the potential to make blockchain technology more accessible to a broader audience. However, the path to widespread adoption is not without its obstacles. Technical challenges and compatibility issues must be carefully navigated to integrate it into the existing blockchain landscape.

Key Takeaways

How to Add Gnosis Chain to MetaMask: A Simple Tutorial


03 Nov 2023
How to Add Gnosis Chain to MetaMask: A Simple Tutorial

As the cryptocurrency ecosystem expands, there is an increasing need for various blockchains with distinct capabilities. Gnosis Chain enters the scene, offering a selection of unique characteristics. By integrating Gnosis Chain with MetaMask, users can access a more comprehensive array of decentralized services. We will walk you through the steps to add Gnosis Chain to your MetaMask wallet in this tutorial.


Setting up MetaMask

Before exploring the integration of Gnosis Chain, it is crucial to have MetaMask installed and operational:

  • Download and Install: If you have not done so already, visit the official website to download and install the MetaMask browser extension.
  • Setup Account: After completing the installation, create your account and make sure to remember the provided seed phrase. This phrase serves as your primary means for account recovery, so keep it secure.
  • Secure Your Account: Protecting your MetaMask account is of utmost importance. Use a robust password and never disclose your seed phrase to anyone.

Gnosis Chain

It is always helpful to have a basic understanding before incorporating any new blockchain into your wallet:

  • Gnosis Chain Overview: Gnosis Chain, a rising star in the blockchain world, brings a range of decentralized solutions to the table, such as prediction markets and decentralized trading platforms.
  • Benefits & Features: Among Gnosis Chain's main selling points are its accelerated transaction speeds and potentially lower fees when compared to congested networks.

Tutorial: How to Add Gnosis Chain to MetaMask

In the top right-hand corner of your browser, you'll find the wallet. If pinned, click on the MetaMask fox icon; if not, click the three dots in the top-right corner. The following screen will appear:

An option to expand the wallet to a new browser page is available by clicking "Expand view:"

This action will launch MetaMask in a new tab:

By clicking on the ‘Ethereum mainnet’ in the top left corner, you can add another network. Click ‘Add Network’

Choose option ‘Add a network manually’

Then, input the information below:

Network Name: Gnosis Chain formerly xDai


ChainID: 100

Symbol: XDAI

Block Explorer URL:

After saving the settings, Gnosis Chain will be added to your network.

The Benefits of Adding Gnosis Chain to MetaMask

With multiple blockchains becoming more common, integrating Gnosis Chain with MetaMask offers numerous advantages:

Expanded Capabilities: Accessing Gnosis Chain through MetaMask opens up a collection of exclusive applications and features inherent to this particular blockchain, which may include unique dapps or cutting-edge financial products.

Diversification: The crypto domain is extensive and constantly growing. By incorporating various chains like Gnosis into MetaMask, you broaden your potential investment opportunities and decentralized application experiences, ensuring no opportunities are missed.

Speed & Cost-Effectiveness: Network congestion and high gas fees on established platforms like Ethereum can discourage many users. Gnosis Chain's architecture has the potential to provide relief through quicker transaction times and more affordable fees.

In summary, as the possibilities within the crypto sphere continue to evolve, tools like MetaMask grant users access to this expanding world. By adding chains like Gnosis, users can stay ahead in this decentralized revolution.


By bridging platforms like Gnosis Chain with accessible tools like MetaMask, individuals not only amplify their engagement with decentralized applications but also fortify their position in this expansive realm. The integration of Gnosis Chain to MetaMask epitomizes the evolution of the crypto landscape – a testament to its ever-growing diversity and potential. As we continue to delve deeper into the decentralized future, tools and integrations like these will undoubtedly play a pivotal role in shaping our digital experiences and opportunities. Whether you're seeking more efficient transactions, diverse dapp interactions, or simply a broader understanding of the crypto ecosystem, this guide's steps open doors to a new horizon.