Free NFT in store: Salvatore Ferragamo gets Web3 cool in Soho store

Experiential high fashion is fusing with Web3 culture. Introducing Salvator Ferragamo’s new Soho Store, which means, digital sneaker customization and free NFTs. 

New York’s Soho neighborhood’s Salvatore Ferragamo concept store offers free NFTs  to consumers in addition to unique goods, made-to-order items, and customization services.

According to North America CEO Daniella Vitale, the concept was created to make NFTs easy to use and accessible for both Web3 devotees and crypto enthusiasts in a setting with periwinkle walls and royal columns as a backdrop.

The store, which debuts today in a neighborhood noted for its youthful vitality, provides a window into how luxury is experimenting and trying Web3 services in order to draw in a new, younger audience. One reason is that it’s playful and exploratory: visitors to the NFTs enter through a fancy mirror booth where a large curved screen plays a colorful animation of Shxpir’s (pronounced Shakespeare) digital art. Shxpir collaborated with multidisciplinary studio De-Yan to create the immersive projects for Louis Vuitton and Dior. 

Visitors may add different components to the artwork, such as a silver chain and abstract forms and patterns, using a touch screen, and then pose for a video in the booth with the customized artwork. The customized artwork is then immediately minted as an NFT on Ethereum using OpenSea.

To obtain the social media-friendly video and claim the NFT in their wallet, visitors must give their email address. According to Vitale, the shop will initially only carry 256 NFTs, but it is willing to expand the idea.

For the time being, the collaboration with Shxpir also includes a small capsule line of t-shirts and hoodies with the artwork that start at $350 and benefit the New York LGBTQ organization, The Center.

It’s Ferragamo’s first move into Web3, following the appointment of new CEO Marco Gobbetti, who came in January with plans to modernize and re-energize the brand, and following the tide of other luxury houses, such Gucci and Balmain, who are testing the market. With Selfridges showcasing and selling NFTs at its London store and Fred Segal showcasing NFT collections in Los Angeles, brands and retailers have been experimenting further with how to use NFTs in the physical experience.

The shoe service will target Web3 groups with a sneaker-friendly demographic. While Nike-owned Rtfkt’s Cryptokicks are customizable NFT shoes that collectors may “forge” into tangible sneakers, Puma just announced a relationship with virtual world 10KTF that would offer sneaker customization and digital twins. According to Vitale, product customization and on-demand manufacturing may spread to other product categories, and Soho’s experimental, youthful vibe made it the ideal location for exploring these novel ideas.

At the conclusion of the NFT.NYC conference, which saw a number of other firms develop or debut Web3 initiatives that utilized NFTs to merge the digital with the physical, the new Ferragamo store was presented. At the Diesel store in Soho, next to Ferragamo’s, customers received stickers featuring bored apes wearing current Diesel styles. Some customers also had Diesel’s digital sneaker NFTs, which were distributed in collaboration with Neuno. Gucci, on the other hand, hosted a party for owners of its NFTs, including those made using 10KTF and those made in collaboration with a business that creates “synthetic celebrities,” SuperRare, which feature tangible ceramic sculptures.

Salvatore Ferragamo is not the only luxury brand that has intertwined into the web3 world. Towards the end of last year, Louis Vuitton launched their very own NFT game , Louis, that encompasses a virtual player named Vivienne who ventures into the digital world to collect exclusive postcards, which are NFTs. They were flooded with over 2 million downloads as its reach to a new crowd slowly takes over the fashion industry.