Tuesday, May 24, 2022
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Balmain x MINTNFT Partnership to Release Non-Fungible Thread FFT Project

French haute couture house Balmain has entered into a significant partnership with NFT platform MINTNFT. Yesterday’s announcement was made at Balmain’s flagship store, New York. The MintNFT cofounder and Balmain creative directors were there. Balmain will be launching a new NFT project in conjunction with MintNFT to reflect its growing interest on Web3.

MINTNFT co-founder and Balmain creative director at a Balmain boutique in NYC
James Sun,
MINTNFT founder (left), and Olivier Rousteing, Balmain Creative Director at the New York opening of Balmain’s boutique. Photo credit to Balmain.

The Non-Fungible Thread project from Balmain and MINTNFT

The name of the project is “Non-Fungible Thread”. This NFT is Balmain’s entry into the metaverse, with MintNFT serving as its long-term partner. This means that the NFT will continue to evolve and become an important part of future Balmain product celebrations. The NFT will also give members perks to the Balmain Army, a family of Balmain influencers.

Another key point of Non-Fungible Thread is what it represents to Balmain. As an iconic brand founded in 1945, Balmain holds its history. Particularly, Balmain’s designs all form a “long, unbroken thread”, which aligns with a single vision.

“Maintaining a thread is key in fashion,” Balmain Creative Director Olivier Rousteing said about the thought behind Non-Fungible Thread. “In order to extend a clear vision and advance a distinct aesthetic, each and every collection that a fashion designer oversees must be tied together by a single, unifying thread.”

The joint project will be first fashion NFTs on the XRPL blockchain

Without a doubt, the fashion industry has been very forward-thinking as a whole when it comes to NFTs. Balmain itself has been experimenting with Web3 for months now, dropping a few different NFT clothing items in 2021.

Significantly, this is not Balmain’s first time working with MintNFT. Back in January, MintNFT worked with Balmain and the global toy brand Mattel on a Barbie x Balmain NFT campaign. In fact, the Barbie x Balmain collab sold the first NFT on MintNFT.

MintNFT, a brand new marketplace for NFTs, is something that many people don’t know. MintNFT focuses on making buying NFTs easy and secure. MintNFT also provides services to major brands and helps them transfer their IP to NFTs securely. MintNFT managed to raise close to $5 million from major companies and investors in Web3 like Ripple, Dapper Labs, Alumni Ventures Group, and SparkLabs.

Speaking of Ripple, MintNFT and Balmain have chosen Ripple as their blockchain partner. Ripple’s XRP Ledger, the first major blockchain to be carbon-neutral, was a natural choice given Balmain’s importance in protecting the environment. Ripple’s eco-friendly protocol and its ability to settle transactions immediately make it a great choice. This greatly improves the user experience. The Balmain x MintNFT partnership will be the first fashion NFTs to use XRPL.

As Balmain CEO Jean-Jacques Guevel comments, “To develop a truly innovative Web3 strategy, it’d be hard to think of a better set of partners than MINTNFT and Ripple. We’re excited to work closely with them to create Balmain’s space in the metaverse–and to work on a host of singular and exciting projects in the future.”

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This article is educational material.

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Henry Hicks
Henry Hickshttps://nonfungibletalk.com
NFT and Crypto Enthusiast. Loves Travelling and Exploring the Metaverse!


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