Balmain, a famous French haute couture house announced a partnership with Min tNFT, an NFT marketplace, and Ripple, a blockchain network, to kick start its brand in the metaverse space. The Los-Angeles based fashion company is thrilled to release its Non-Fungible Thread project with MintNFT which will officially mark the entrance to the web3 world.
The announcement was made at Balmain’s flagship store opening event in New York on May 12. The details of the NFT project are yet to be released.
With the increasing popularity of NFTs and metaverse, the fashion industry is slowly transitioning towards the Web3 world to showcase its projects in an innovative way through technology.
Balmain did not hold back on this opportunity and announced an official partnership with MintNFT to release its own NFT project called the Non-Fungible Thread.
Balmain x MintNFT: The Non-Fungible Thread
Balmain’s Non-Fungible Thread is an exclusive single yet dynamic NFT that will evolve over time to become an essential factor for the upcoming and future Balmain products. It will combine physical and digital production to create something unique and valuable for the collectors and Balmain fans.
The Non-Fungible Thread project will also have an inclusive community called the Balmain Army, only accessible to Balmain NFT holders.
What makes Non-Fungible Thread unique from other NFTs?
In the fashion industry, a thread is the main component. To showcase Balmain’s heritage and sophistication of fashion trends, the brand decided to base its NFT project on a single thread.
As Balmain Creative Director Olivier Rousteing says, “Maintaining a thread is key in fashion. In order to extend a clear vision and advance a distinct aesthetic, each and every collection that a fashion designer oversees must be tied together by a single, unifying thread.”
Balmain has held the heritage of the legendary designer Pierre Balmain since 1945. By making the single thread, it will represent Balmain’s long history of designs made from “one long, unbroken thread.” The Non-Fungible Thread is the vision of one thread going virtual.
Balmain x Ripple: The first fashion NFTs on the XRPL blockchain
The NFT project will be released with MintNFT on the XRPL blockchain, becoming the first NFT project to do so. Balmain and MintNFT announced they will partner with Ripple to release this project on its brand-new eco-friendly and carbon-neutral blockchain network.
Ripple is focused on protecting the environment and also providing fast transactions and user-friendly platforms to users, which follow Balmain’s vision in the fashion industry.
As CEO of Balmain, Jean-Jacques Guével says, “To develop a truly innovative Web3 strategy, it’d be hard to think of a better set of partners than MINTNFT and Ripple. We’re excited to work closely with them to create Balmain’s space in the metaverse—and to work on a host of singular and exciting projects in the future.”
How will Balmain transform the fashion industry?
Balmain has already worked on various NFT projects before this. Prior to this announcement, Balmain has already collaborated with MintNFT for the Balmain x Barbie NFT project back in January 2022. This collaboration holds a special meaning as this was the first-ever NFT sale to go live on MintNFT.
Balmain’s BALMAIN DREAMS: 10 OR is also an upcoming project in collaboration with Z2 Comics on MintNFT showcasing “Olivier Rousteing’s most celebrated collections from the last ten years.” Furthermore, the brand also released some clothing items and sneakers NFTs in 2021 to test its waters on the platform.
Having a background in the web3 world, Balmain is now ready to make its way into the blockchain world with a proper NFT project that will give way to the metaverse. Balmain’s Non-Fungible Thread will kickstart a new era in the fashion industry.