For months, this has been the hottest trend in digital fashion, garnering the attention of industry heavyweights such as: louis vuitton, dior, Gucciand balmain.
Now the “phygital” NFT collection has a new fan: Donald J. Trump.
Trump on Tuesday Announced his third NFT collection.like the last two, features a beefed-up, thinned-out version of the former president who performs tasks ranging from traversing a field on horseback to entering space as a cyborg.
But unlike the previous two trading card collections, which were entirely digital, the Tuesday set offers a very unique physical benefit. Collectors who purchase at least 47 of Trump’s latest trading cards ($99 each) tiny A piece of the navy suit he wore for his mug shot in Georgia earlier this fall. violation of state racketeering laws; This is an effort to overturn the 2020 election.
These fabric swatches reportedly number 2,024, as well as an additional 225 “suits and ties” of the same outfit, available exclusively to purchasers of 100 or more “Mugshot Edition” playing cards. This requires purchasing all nearly 100,000 of the latest NFTs. Collecting Trump’s entire Mugshot Day suit would only cost about $10 million.
While Trump’s latest venture certainly provides a unique and colorful example, the concept of linking NFTs to physical collectibles is not new. In the past year, both digital fashion startups and major fashion houses have gone all-in on linking collectible NFTs to physical objects, such as: shoes and luggage.
The fusion of innovative digital collectibles with more tangible, traditional perks and products has been popularized by the term “phygital.” The word is despised by many in the digital fashion industry, but has yet to be replaced by something stickier.
Increasingly, phygital collections are a safer bet for mainstream brands looking to attract existing customers who don’t see the value of virtual collections alone. While many fashion houses are dipping their toes into cryptocurrency for the first time, Metaverse Activation And one-off digital collectibles Cryptocurrency decline amid NFT craze in 2021 passion in a box For this experiment, we turn the key brands back to the ones they know best. exclusive itemOn-chain flair sprinkled on top.
Trump is now taking a page from Louis Vuitton’s book by attempting to lure fans with something the political leader’s loyal admirers understand better than blockchain networks and on-chain tokens: objects that touch the idol’s body. I see it. He’s already done some celebrity NFT work with tokens linked to real-world perks. Now he’s stepping it all up with a physical gift for his adoring fans.
It is unclear whether that tactic will succeed. Just hours after Trump announced a new series of physical collectibles, his first two NFT trading card collections saw their floor prices drop by 30% and 41%, respectively. NFT price floor.
Perhaps Trump hasn’t found the right NFT trend to shine yet. If he ends up behind bars in the coming months, the embattled politician could team up with Mattel to release a line of NFT-backed action figures depicting him engaging in various prison activities. The NFT market is loving it, at least for now. A kind of product collaboration.
Editor: Andrew Hayward