Digital fashion business BNV launches fashion wearables NFT

Digital fashion business Brand New Vision (BNV) has unveiled its inaugural in-house fashion wearables NFT collection, offering exclusive access to BNV's digital fashion ecosystem. The first drop of 1,000 digital eyewear NFTs marks the brand's vision of taking fashion into Web3. The launch of the NFT collection "The Family of Gs" is in the wake of its US$4 million Series A funding round led by Animoca Brands. According to the brand, The first drop of 1,000 digital eyewear NFTs "The Gs" offers a range of utility and exclusive access to BNV's digital fashion ecosystem. With collaborations, priority whitelist, and VIP entry to fashion-focused metaverse experiences.

"We believe that digital wearables provide multi-dimensional opportunities to engage in Web3, helping brands and consumers alike navigate the colliding realms of fashion, NFTs, and virtual worlds," said Richard Hobbs, founder of BNV said.

He added, "Together with the family of Gs and our commitment to building a true fashion-first metaverse, we are looking to become the utility-creation gateway for brands entering the metaverse, and for digital natives searching for the next big thing in fashion NFTs."

Offering only 1,000 NFTs, "The Gs" will be the rarest and most valuable drop in the "Family of Gs" collection with two additional drops planned for later this year. The brand added that BNV's fashion community will soon evolve into a fashion-first metaverse economy with unique play-to-earn innovations and the introduction of the "ERC-20 fa$h" token.

Moreover, the virtual ecosystem will be built to bring out the full potential of fashion NFTs, including the introduction of staking, with The Gs producing the highest yield among all wearables in the Family of Gs collection. Holders will have access to a private "fa$h" token sale, increased voting power in community treasury activities, and discount opportunities on future NFT drops. Additionally, there will be metaverse wearable airdrops to holders for Decentraland and The Sandbox.

"The opportunity for digital fashion is significant, and BNV has built an industry-trusted team to help fashion brands enter the world of digital property rights and NFTs," said Yat Siu, executive chairman and co-founder of Animoca Brands.

Animoca Brands is active in investing in other companies and raising money to fund acquisitions. It completed a capital raise of about US$358 million and was planning to continue funding strategic acquisitions and investments, product development, and licenses for popular intellectual properties. The latest round of funding was led by Liberty City Ventures, with other investors including 10T Holdings, C Ventures, Delta Fund, Gemini Frontier Fund and Gobi Partners Greater Bay Area, to name a few. The brand said currently working to build the open metaverse by bringing digital property rights to online users through the use of blockchain and NFTs.

In 2021, Animoca Brands raised US$216.28 million to power its vision of digital property rights and the open metaverse, while its subsidiary The Sandbox completed a capital raise of US$93 million in November 2021. The company said the global video game market was estimated to generate US$180.3 billion in 2021, while the metaverse market size is expected to grow to around US$829 billion by 2028.

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