BALMAIN LAUNCHES WEB3 HUB AT PARIS FASHION WEEK

Balmain has created a Web3 hub, called Balmain Thread, to bring together its NFT projects on one platform and open access to exclusive products and experiences to members of the community. The hub was built in partnership with mining platform MintNFT and energy-efficient public blockchain XRP Ledger. It will debut at Balmain Festival, the third iteration of the brand’s Paris Fashion Week event, to an expected audience of 10,000 at Stade Jean Bouin. Those in attendance will be granted automatic access to the Balmain Thread as an extension of their ticket to the event.

Balmain has been an early and rapid adopter of NFTs among fashion brands. It was the first luxury house to introduce multiple NFTs, illustrating a commitment to the technology and offering it a relatively long history from which to weave a more cohesive strategy. It recently added NFC tags to its Pokemon clothing line and launched an NFT collectable auction alongside its Balmain x Barbie capsule collection, also with MintNFT. Amidst a host of one-off fashion week NFT projects, this launch reflects a concerted effort on the part of Balmain to establish a centralized hub through which to create a throughline for its NFT drops by combining them in one place

Reference- https://fashionunitedgroup.com/technology/balmain-launches-web3-hub-at-paris-fashion-week