Popular Denim Brand Diesel to Drop First NFTs on Rarible

Italian clothing brand Diesel is entering the world of non-fungible tokens (NFTs) with its upcoming project called "D:VERSE." The collection, based on Diesel's autumn and winter 2022 showpieces, will be launched on the Rarible marketplace on March 12. Diesel aims to provide customers with a digital experience by embracing NFTs, following the footsteps of other fashion brands like Prada, Adidas, and Gap.

Interested individuals can subscribe to the D:VERSE whitelist, granting them access to a pre-sale window for the first NFT drop. The NFTs will accept both traditional fiat currency and cryptocurrencies as payment options. Diesel is also providing a tutorial on setting up an e-wallet for interested buyers.

According to a report by Morgan Stanley, the NFT market is expected to reach $300 billion by 2030. Luxury brands such as Gucci, Balenciaga, and Kering are viewed as well-positioned to benefit from digital collaborations in the metaverse. Luxury fashion brands have already achieved significant financial success through NFT auctions, with Dolce & Gabbana's Collezione Genesi NFT collection selling for around $5.65 million in September.

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