Here is an interesting interview discussion about NFTs (non-fungible tokens) and the world of luxury brands. It's a conversation between Benoit Pagotto, cofounder of the NFT brand RTFKT Studios, and Ian Rogers, who is Chief Experience Officer at the blockchain startup Ledger (he was previously the Chief Digital Officer at LVMH). Below is an excerpt that stood out to me. It starts to speak to the potential of NFTs for fashion/luxury brands. Rogers also makes an interesting comparison to the music industry in that things are playing out very differently today compared to what happened back in the late 90s.

Benoit is proving that he can basically sell a $4,900 digital good alongside a $100 physical good. Now imagine when the lightbulb goes off in Adidas’s head, that the item on adidas.com comes with a digital collectible and the item at “retailer dot com” does not. It fits with their focus way more than the internet did. The internet didn’t fit in any incumbent’s focus. It was the opposite. It was like, “Oh my God, this threatens our monopoly in some way,” right? For the music business, it was, “Wait a minute, we want to sell a $17 compact disc, not a $1 digital file.” They got dragged into that world. 

On a related note, it was recently announced that model Emily Ratajkowski has made an NFT containing a photograph of herself standing in front of a Richard Prince print that had previously appropriated one of her photos. (Richard Prince's artwork is known for appropriation.) So this is an exceptionally neat idea. Here she is using an NFT to try and take back some control. Basically: You took my photo and then profited from it. So now I'm going to stand in front of that image, take a new photo, and then reclaim some ownership using the blockchain. Is this the future?

Fashion, like architecture, says a lot. It is, according to Wikipedia, an "aesthetic expression at a particular time, place and in a specific context." So it's interesting to consider how fashion might translate, and not translate, around the world. This recent article by The Economist, called "The United Nations of Uniqlo," offers up one comparison, albeit a generalized one, between Japanese and American clothing preferences. (It's an article about the Japanese fashion label Uniqlo.)

Japan:

At first glance there seems nothing obviously Japanese about Uniqlo’s wares. But a strong strain of minimalism pervades Japanese culture. Buddhism remains an important influence on Japanese society even in an increasingly secular age, and among its core tenets are renunciation and detachment – concepts that mean being able to suppress one’s lust for the material elements of daily life. Mario Praz, an Italian critic, contrasts the Japanese style with the suffocating abundance of Victorian interiors in Europe and America which, he says, stemmed from horror vacui (fear of emptiness). More recently, young people in the West have also grown less enamoured with acquiring stuff, hence the widespread popularity of another Japanese export: Marie Kondo, a professional declutterer.

Here is an interesting interview discussion about NFTs (non-fungible tokens) and the world of luxury brands. It's a conversation between Benoit Pagotto, cofounder of the NFT brand RTFKT Studios, and Ian Rogers, who is Chief Experience Officer at the blockchain startup Ledger (he was previously the Chief Digital Officer at LVMH). Below is an excerpt that stood out to me. It starts to speak to the potential of NFTs for fashion/luxury brands. Rogers also makes an interesting comparison to the music industry in that things are playing out very differently today compared to what happened back in the late 90s.

Benoit is proving that he can basically sell a $4,900 digital good alongside a $100 physical good. Now imagine when the lightbulb goes off in Adidas’s head, that the item on adidas.com comes with a digital collectible and the item at “retailer dot com” does not. It fits with their focus way more than the internet did. The internet didn’t fit in any incumbent’s focus. It was the opposite. It was like, “Oh my God, this threatens our monopoly in some way,” right? For the music business, it was, “Wait a minute, we want to sell a $17 compact disc, not a $1 digital file.” They got dragged into that world. 

On a related note, it was recently announced that model Emily Ratajkowski has made an NFT containing a photograph of herself standing in front of a Richard Prince print that had previously appropriated one of her photos. (Richard Prince's artwork is known for appropriation.) So this is an exceptionally neat idea. Here she is using an NFT to try and take back some control. Basically: You took my photo and then profited from it. So now I'm going to stand in front of that image, take a new photo, and then reclaim some ownership using the blockchain. Is this the future?

Fashion, like architecture, says a lot. It is, according to Wikipedia, an "aesthetic expression at a particular time, place and in a specific context." So it's interesting to consider how fashion might translate, and not translate, around the world. This recent article by The Economist, called "The United Nations of Uniqlo," offers up one comparison, albeit a generalized one, between Japanese and American clothing preferences. (It's an article about the Japanese fashion label Uniqlo.)

Japan:

At first glance there seems nothing obviously Japanese about Uniqlo’s wares. But a strong strain of minimalism pervades Japanese culture. Buddhism remains an important influence on Japanese society even in an increasingly secular age, and among its core tenets are renunciation and detachment – concepts that mean being able to suppress one’s lust for the material elements of daily life. Mario Praz, an Italian critic, contrasts the Japanese style with the suffocating abundance of Victorian interiors in Europe and America which, he says, stemmed from horror vacui (fear of emptiness). More recently, young people in the West have also grown less enamoured with acquiring stuff, hence the widespread popularity of another Japanese export: Marie Kondo, a professional declutterer.