Must Read: Fashion Brands Are Already Rethinking NFTs, The Race to Create the First Sustainable Cult Sneaker


new york fashion week nft keys

These are the stories making headlines in fashion on Friday.

How the NFT marketplace is already raising questions for fashion brands
One of the most incentivizing aspects of NFTs for fashion brands is how with every secondary sale, the original creator receives royalties in perpetuity. Typically, anytime a physical item linked to an NFT (a code on a blockchain) is transferred to a new owner, the NFT itself would generate a 5% sale value and transfer it back to the original brand it was sold from. However, in order to attract more collectors with lower prices and fees, those in the NFT marketplace are leaving it up to buyers to decide if they want to pay the royalties, leaving many fashion brands to question whether it makes sense to dive into the NFT world at all. {Business of Fashion}





Source