Fashion brand DKNY is updating its logo and launching it as a non-fungible token (NFT) to promote it. The brand will auction the NFT and donate the proceeds to the American Nurses Foundation.
DKNY, headquartered in New York, was founded in 1984 by Donna Karan and Stephan Weiss. It was a subsidiary of the LVMH group from 2001 to 2016 when it was sold to the G-III Apparel Group.
The brand historically positioned itself as a luxury fashion retailer and is perceived as targeting middle aged men and women. However, it has targeted millennials and Gen-Z consumers in the last couple of years, and the launch of the logo as an NFT is another step in that direction.
In 2019 DKNY partnered with Send Me a Sample for voice activated sampling services, enabling customers to order its new fragrance Be Delicious via Google Assistant or Amazon’s Alexa. It has also partnered with various celebrities such as Cara Delevingne and Rita Ora to penetrate the younger market.
The new logo attempts to showcase DKNY’s connection to New York. It will represent a mural on Houston Street and portray the vibrant idea of “the City that never sleeps”, especially attractive for young and ambitious individuals.
Using blockchain technology, the NFT launch further connects DKNY with a digitally native generation and highlights to customers that the brand is keeping up with trends.
An algorithm that uses artificial intelligence (AI) will be used to design the NFT. The technology is provided by Paris-based Obvious, which also generated the first AI artwork sold at an auction.
“To us, A.I. offers a new way to create. This is true not only in art, but in every creative process,” said Pierre Fautrel, Hugo Caselles-Dupre, and Gauthier Vernier from Obvious. “These algorithms are offering a new source of inspiration for creatives, and we believe they can lead to entirely new aesthetics within the realm of design.”
In addition, digital marketplace Rad, which entertainment company Little Star owns, will host the auction for the NFT. Little Star has previously partnered with brands including Disney, Sony, Complex, and Showtime.
“NFT’s have shifted the way we think about digital content and its use cases from art to film and so much more,” said Rad’s Chief Brand Officer Vanessa Kincaid. “Their (DKNY’s) boldness to push the boundaries of what a NFT can be with their new logo is in complete alignment with our desire to be a groundbreaking marketplace for digital goods.”
Meanwhile, Alethea, a company looking to build interactive NFTs through AI has received funding from Mark Cuban, Dapper and Galaxy. Vogue Singapore dedicated its September issue to NFTs, and French tech company Fetch.ai is using AI for creating collaborative NFT art.
