DIESEL Makes Independent Debut Into the Metaverse

The Garnette Report

By Stephanie Rosiles

DIESEL has announced its independent debut into the metaverse, calling the non-fungible token (NFT) project the “D:VERSE.” The collection, based on the brand’s showpieces from the autumn/winter 2022 collection, was released on Saturday, March 12. 

This isn’t their first rodeo. The brand launched its first-ever sneaker, called The Prototype, as an NFT in partnership with The Fabricant. Previous to that, DIESEL sent out invitations in the form of an NFT for its Spring/Summer 2022 show in collaboration with Fanaply. 

D:VERSE is an engaging platform that includes unique NFT editions of runway showpieces, as well as physical (and limited-run) garments, sneakers, and accessories. It also provides access to the D:VERSE family — via which DIESEL NFT holders will be able to meet through a private Discord channel — and to the D:VERSE-KEY, a token that will give exclusive rights for discounted NFT pre-sales, raffles, free airdrops, additional metaverse wearables, and news about new gaming and projects that DIESEL will continue to build for its community,” read the press release. 

The D:VERSE Family is described on their website as a “brand new community for DIESEL D:VERSE NFTs Collection which will be involved in a long series of meta-projects, collaborations, and initiatives between physical and virtual, metaverse and live events, NFTs, and clothing.” 

https://www.youtube.com/watch?v=PpRDLOMPCFc&feature=emb_title

FALL/WINTER 2022. Glenn Martin’s debut collection since becoming Creative Director of the brand.

The collection, which was presented at Milan fashion week, merged utility with fun and slinky, metallic separates and leather belts that transformed into micro-mini skirts — Miu Miu mini, anyone? NFT pieces, referred to as hero products, include a fur jacket, a puffer jacket, a sneaker, and an accessory. These will be available on a first-come, first serve basis and one NFT will be ultra-rare, in an edition of 1. 

DIESEL will be accepting old money (Visa, Mastercard, Amex, PayPal) and cryptocurrencies (Ethereum, Bitcoin, USDC, LTC with COINBASE), with a tutorial for setting up an e-wallet included. 

At this time, metaverse gaming and NFTs could represent a massive revenue opportunity for the luxury market by 2030 — about $56 billion, according to Morgan Stanley, an American multinational investment bank and financial services company. “NFTs and social gaming present two near-term opportunities for luxury brands, allowing them to monetize their vast IP (intellectual property) built over decades,” says the report. Analysts reported that by 2030, luxury brands could expand their total addressable market by more than 10%. 

DIESEL’s public sale will only be available for 55 hours on their website.

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