The Council of Fashion Designers of America (CFDA) has revealed that it will be launching a non-fungible token (NFT) partnership and educational program for its Metaverse-centric members.
Created in partnership with creative consultancy 5Crypto and developed alongside metaverse platform The Sandbox and gaming company Polygon Studios, the program hopes to provide CFDA members with the knowledge and resources to navigate the metaverse.
In a statement, CFDA CEO Steven Kolb said, “This is a remarkable opportunity for the CFDA to lead the American fashion industry into the future of commerce and creativity.
“Our mission is to position our members as leaders in global fashion and retail innovation through digital strategies to support growth and expansion. With support from The Sandbox and Polygon Studios, the CFDA is poised to educate and empower business leaders for generations to come.
The program also hopes to help introduce Web3 technology to a broader consumer segment while providing brands with information on how to engage with these customers in the digital space.
“The CFDA is America’s foremost fashion authority, and we’re honored to partner with them in their foray into the metaverse,” said The Sandbox co-founder and COO Arthur Madrid.
He continued, “We believe the metaverse is the new frontier of expression, where avatars will be an extension of our digital identity. We are excited to offer new creative tools for fashion designers to create NFT collections with digital ownership and rarity that will be playable in the metaverse.
Other CFDA programs and projects led by 5Crypto are to be announced throughout the year.