Dolce & Gabbana hosts ‘historic’ NFT sale

By Raffaele Redi

Meanwhile, Christie’s auctioned off Crypto Punk 9997 by Larva Labs

Dolce & Gabbana announced its first-ever NFT sale as its ‘The Velvet Impossible Jacket’ from the ’Collezione Genesi’ collection, was auctioned off for a whopping $307,000 (€262.640, £226,647) or around ETH107.18.

A few hours before, the floor rose with the lowest bid on the NFTs closing at ETH50, while the highest bid was at ETH65.69. Later on, the ‘Mosaic impossible Jacket’ was the second piece purchased for $279.000, or around ETH97.

With some of the nine items still on sale, Dolce & Gabbana’s historic debut NFT collection crossed ETH966 (less than $2.8m) in bids.  “History has just been made,” tweeted Dolce & Gabbana.

Collezione Genesi is the first luxury NFT collection that involves both digital and physical works. The entire collection took an astounding 16,000 collective hours to create.

The nine-piece, one-of-a-kind collection was personally designed by Domenico Dolce and Stefano Gabbana for UNXD. It features entirely hand-made, museum-grade items in the Alta Moda (women), Alta Sartoria (men) and Alta Gioielleria (high jewellery) lines.

Another millionaire NFT sale by Christie’s

Meanwhile, in Hong Kong, Christie’s  held its online auction, ‘No Time Like Present’, marking the very first NFT sale in Asia offered by an international auction house. The auction featured the collection of Shawn Yue, a renowned Asian actor and collector.

Yue’s collection featured a broad array of NFT-minted art, including a group of exceptionally rare CryptoPunks created by Larva Labs, as well as Yuga Labs’ Bored Ape Yacht Club (BAYC) and Larva Labs’ latest creation, Meebits.

Crypto Punk 9997 by Larva Labs was auctioned off as the hammer also fell on another whopping $4.3m bid (HKD33.8m). Meanwhile, a George Condo oil on canvas masterpiece, Nun and Priest, barely touched $2.5m. The entire collection was sold for around $15m.

Further reading: Joe Rogan calls NFTs a ‘cryptocurrency hustle’

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