Digital twins are set to become a popular type of NFT for fashion brands.
While some argued digital twins lack a suitable luxury halo and are more akin to a “bonus pack” mentality, Bulgari is diving in by directly linking its NFTs to high jewellery purchases.
The LVMH-owned jeweller, with the same team of partners, has already launched a limited-edition collection of 10 NFT artworks inspired by the Octo Finissimo Ultra, which bills itself as the world’s thinnest mechanical watch. They open up with a QR code engraved on the barrel’s ratchet wheel. While the watch industry has been an early supporter of Web3, jewellery has so far shied away from it.
Guido Mengoni, CMO of Temera, said: "To launch a second project in the NFT field, after Octo Finissimo, is a great honor for us at Temera. In this case, the Digital Twin concept makes us even more proud, as it comes very close to what is our main goal: serializing and tracking the product even in its entirely digital life.Bulgari has given us the opportunity to start this journey together, leading the way on an innovative path that is unique in the high jewelry industry”
Davide Baldi, CEO of Luxochain, added: “We are very proud to be part of this consortium of top-level players on the international scene and we are honored by the esteem and trust that Bulgari has been confirming in us over time. We have always been committed to protecting the reputation of brands and safeguarding the authenticity of goods, what better opportunity to be able to achieve it with such precious jewels. We are convinced the market is still in the early stages of experimentation with this new technological innovation, which can guarantee authenticity and a new form of experience and loyalty to the end customer, and Bulgari is proving to be an innovative company in this sector, also for products of high-end like jewellery”.
Sandeep Nailwal, co-founder of Polygon, said: "Tying property rights to proof of authenticity is a powerful way of demonstrating verifiable digital ownership and ensuring against counterfeiting. Polygon and Polygon Studios are proud to be pioneering this new NFT standard to fortify authenticity in the luxury goods sector.”
The teams of Polygon, Temera and Luxochain, jointly, confirm the will to create a standard for the creation of NFTs, excluding speculation, becoming a symbol of authenticity and anti-counterfeiting obtaining full support from a Maison such as BVLGARI.