Iconic designer Manish Malhotra will lead the industry in this new revolution by creating 5 exclusive NFTs that will be available on the WazirX NFT Marketplace in collaboration with FDCI X Lakme Fashion Week.
Revolutionizing the Indian fashion industry, WazirX NFT Marketplace joins hands with FDCI X Lakme Fashion Week to introduce fashion NFTs by iconic designers and artisans. Non-Fungible Tokens have captivated the world of fashion and art, creating a market where digital versions of garments and accessories are linked to a unique blockchain hosted tokens. With India being one of the most promising markets for creators as well as collectors, this partnership marks the entrance of India’s fashion industry in digital assets- a step towards integrating tech innovations with fashion via blockchain technology.
Iconic designer Manish Malhotra will lead the industry in this new revolution by creating 5 exclusive NFTs that will be available on the WazirX NFT Marketplace in collaboration with FDCI X Lakme Fashion Week. Following the trend, big names in the fashion industry, as well as artisans, will be joining the NFT bandwagon and exploring the space.
Manish Malhotra said, “NFTs are a complete gamechanger and absolutely something that the Indian industry needs to consider and move towards. I am thrilled to talk about the Indian NFT Revolution in Fashion at the upcoming panel discussion at FDCI x Lakme Fashion Week. I am also proud to announce that I will be launching the first-ever designer NFTs in India on Wazir X Marketplace and kickstarting this initiative through FDCI X Lakme Fashion Week. I hope my participation encourages more designers and artisans to explore and take advantage of this new and exciting opportunity.”
The path-breaking initiative is a testament to India’s growing adoption in the NFT space. Riding on the NFT wave, this association marks a milestone in building an eco-system to encourage designers to integrate NFTs into their business strategy and open avenues to reach a wider audience base.
Vishakha Singh, VP & Advisor, WazirX NFT Marketplace, said: “Globally, designers have commenced making a statement using NFTs to engage with fans and patrons in the form of loyalty rewards. With the trend of NFTs being at its nascent stages in India, we believe that there is room to understand and create awareness around the different use cases of NFTs. We have seen a promising response to art and music-based NFTs on our platform – this has propelled us further to explore newer segments, with fashion being the most recent industry to jump the NFT bandwagon. The fashion NFT space is fairly untapped in India and has great potential to grow – if brands engage with the 10M + growing crypto community now, they are collecting a strong community base for the future. Additionally, for independent fashion designers, NFTs will certainly be a new revenue stream.”
Commenting on the association, Jaspreet Chandok – Head RISE Fashion and Lifestyle said, “Fashion NFTs have gained huge prominence across the globe in recent months. We believe that this can possibly be a big game-changer for Indian fashion which is why they need to pioneer the eco-system in understanding, support and access for designers and artisans. We are glad that Manish has taken the lead in being the first to launch his NFTs on WazirX and we look forward to creating a template for the industry in the future.”
Pioneering the NFT segment in India and South Asia, WazirX NFT marketplace is India’s most trusted platform for designers, artists and creators to explore the NFT ecosystem. WazirX NFT marketplace builds on providing multiple use-cases with NFTs, these fashion-themed NFTs being the latest ones. The NFT craze has swept through the fashion world and this unique collaboration will revolutionize the Indian fashion industry.
Scheduled on 6th October at the upcoming FDCI X Lakme Fashion Week, the panel discussion will bring together key stakeholders to address the current understanding of NFTs in the Indian fashion industry.
Source: Business World