Dolce & Gabbana: How LVMH Maisons Bridge The Culture of Luxury to The Metaverse

In her introduction to the metaverse talk at the LVMH Think Tank, Nelly Mensah highlighted the link between culture and Web3 and how generation Z are embracing new technology without hesitation, the frontier between the digital and the physical no longer a consideration. For our brands to share their luxury values with this new audience, we believe Maisons must bridge to the metaverse and start experimenting with NFT collections.

NFTs are much more similar to luxury than you perhaps think. Both are about creating exquisite moments, refined culture and a world of fantasy. As Shashi Menon, CEO of UNXD, a NFT marketplace bridging the world of cryptocurrency and high-end luxury, said in his talk on luxury and culture at the LVMH Think Tank, “NFTS are moments of culture.” 

The Dolce and Gabbana Genesis Collection

Launched last summer in a collaboration with UNXD, the Dolce and Gabbana Genesis Collection came out of nowhere and set the precedent for what is possible with luxury NFT collections. It was ambitious and experimental, and ultimately a great success.

Rather than starting with something simple, D&G and UNXD fixed on solving the biggest issue Maisons face with the digital experience: the lack of connection with the physical artistry, craftsmanship and culture of luxury. 

The solution was to connect NFTs to physical products. Haute-Couture, rather than accessories or ready-to-wear, was chosen. The collection featured handmade, museum grade items across the men’s, women’s and high jewelry ranges. The reason being that if a collection for the least digital part of luxury could work in the metaverse, the door would be open for every other facet of luxury.

There were nine pieces, five of which were attached to physical assets, the remaining four being digital only. The collection sold for 1.8 thousand ETH (the cryptocurrency of Ethereum) or $6 million. It was the highest value NFT release ever.

Why Can Your Maison Learn?

The D&G genesis collection is an example of what Maisons can achieve when the physical culture of luxury is combined with the digital culture of NFTs. Why was the collection such a success? Shashi Menon outlined five reasons the project worked

• Provenance. Genesis was designed by Dolce and Gabanna themselves. Your Maison has the best designers in the world at its fingertips.
• Art & craftsmanship. Genesis was the result of 15,000 hours of cumulative human effort. Obsessing over small details mirrored the real life process. What craftsmanship can your Maison bring to an NFT collection?
• Experience and utility. Genesis offered real life experience. The Dress from a dream: Gold gave the owner 2-year access to the Dolce & Gabbana couture events in Italy, a private tour of a workshop in Milan, a 2-week exhibition of Dress from a Dream in a flagship store in Milan and more. Exclusive and rare memories to last a lifetime. The essence of luxury. What can your Maison offer?
• Storytelling. Luxury is about the story. The Genesis collection was imagined in Venice and much of the story was centered around this capital of creativity. What is your Maison’s story?
• Community. With only nine pieces, it was a very intimate community, but a connection with the brand which simply wasn’t available before. 

Merging Luxury Culture and Communities in Web3

As Shashi Menon pointed out during the Think Tank, Web3 is built on a rebellious, almost anti-establishment philosophy. Communities are wary of global brands coming into the space and disrupting it. But they are also very open minded. If brands can demonstrate they understand the medium and speak to communities in a language they understand, then a world of possibility opens up. In fact, this is already happening. The space moves very quickly.

The next D&G collection will feature 5000 items and will offer a more widely accessible utility, that of tiered membership, each level rarer and more valuable than the next. Metaverse fashion week in Decentraland featured 50 fashion brands and runway shows and attracted over 37 thousand people.

Provenance, craftsmanship, scarcity and story. These are the fundamentals of luxury and they are being reimagined at the intersection of the digital and physical world. How will your Maison cross the bridge and bring the next generation of digital natives into your culture? 

Don’t forget to visit our new dedicated Web3 hub to find out more about the Think Tank, luxury, culture and explanations on all the jargon and buzzwords you have read in the three articles on the LVMH Think Tank.