Do you really need to be able to wear or touch fashion anymore?

DIGITAL’S latest technology NonFungible Tokens is redefining the essence of fashion, and the industry has no choice but to start understanding what NFTs are.

Being digital is no longer just a trend for fashion, it’s essential.

Just like sneakers are no longer considered sportswear but a core item of both luxury and high street fashion. With NFTs being the new buzzword of digital, fashion is trying to wrap its head around this phenomenon. (And Gucci has already started selling digital-only sneakers, by the way.)

NFTs are Jpeg files that are limited or unique thanks to blockchain technology. They are the new collectables. They come with their certificate of authenticity.

Art has embraced the NFT for a few years now. Both Jeff Koons and David Hockney recently announced they would be launching their own NFTs.

All this attention has put a lot of hype around the world of NFTS, and we all know how fashion loves hype. Luxury labels never like to be left out of technological developments, and brands from Balenciaga and Dolce & Gabbana to Burberry are becoming NFT friendly.

It’s a technology that has a lot of flexibility, so it can adapt itself to the creative process. It could be a simple design sketch, an archive photograph or a wearable item of digital clothing. It’s a whole metaverse waiting to be discovered.

The first Indian designer to embrace the world of NFTs is Manish Malhotra. He has created five NFTs that will be available on the WazirX NFT Marketplace – and while none of these is wearable, it marks the start of a transformation in the Indian fashion industry.

For many creative people, all this techno talk may seem like babble, but it’s being touted as the future of the industry. The veteran designer sees them as a game-changer – and other designers are already working with WazirX NFT Marketplace.

Malhotra said: “NFTs are a complete game-changer and absolutely something that the Indian industry needs to consider and move towards. I’m thrilled to talk about the Indian NFT Revolution in Fashion at the upcoming panel discussion at FDCI x Lakme Fashion Week.

“I am also proud that I will be launching the first-ever designer NFTs in India on Wazir X Marketplace and kick-starting this initiative through FDCI X

Lakme Fashion Week. I hope my participation encourages more designers and artisans to explore and take advantage of this new and exciting opportunity.”

In September this year, Karl Lagerfeld’s eponymous fashion brand launched their first NFT, which included a shiny metallic NFT figure by Lagerfeld. Only 77 pieces were offered, and they sold out in under a minute.