Iconic Parisian fashion house Maison Margiela announced an expansion of its Web3 fashion offering on Wednesday with the launch of its new NFT MetaTABI.
Maison Margiela launches the new MetaTABI NFT collection
The MetaTABI collection offers a unique blend of physical and digital experiences, catering specifically to Maison Margiela's clientele. Two different levels provide access to this exclusive ecosystem:
- Level 1: Limited to 15 NFTs, each priced at 2.5 ETH (approximately $7700 USD), this tier grants ownership of handcrafted Tabi boots embellished with gold leaf, along with digital wearables for The Sandbox and Ready Player Me platforms . In addition, Tier 1 holders receive invitations to exclusive Maison Margiela Web3 events.
- Level 2: With 1500 NFTs available at 0.185 ETH (approximately $560 USD) each, this tier offers many of the same benefits as Tier 1. Instead of physical boots, holders receive a personalized leather wallet personalized with their wallet number cryptographic, which further narrows the gap between physical and digital ownership.
#MetaTABI The collection is now available for public sale.
→ Official links: https://t.co/C6ER3eTn2thttps://t.co/8OWBEFzahl
→ Opensea Collection: https://t.co/IxVFzlQmxV
→ Contract address: 0x5c8cb9d24348c0b4eda49992cb68dae050217d92 pic.twitter.com/zWnrNp5yyJ
— Maison Margiela (@Margiela) April 17, 2024
Developed in collaboration with digital fashion house The Fabricant, the NFT launch plays on the concept of “phygital”, where physical products exist alongside a digital twin, typically in the metaverse or blockchain.
“We are not far from a future where fashion statements are made digitally.” NFT Coining Platform Crossmint wrote in a blog post about the MetaTABI Collection.
“The idea with digital boots is the same as with physical boots: You can choose where you want to wear them,” Fabricant founder Kerry Murphy told digital fashion artist Stephy Fung in an interview on Monday.
Web3 Fashion's promising future
Despite receiving extensive media coverage, Wednesday's launch isn't the company's only foray into the Web3 space. Last fall, Maison Margiela debuted a Web3 game described as “blockchain bingo” focused on minting more than two dozen digital tokens.
The Web3 fashion industry is expected to increase in the coming years. By 2031, it is expected to reach $4.8 billion and see a compound annual growth rate of over 26%.
“This project continues the Maison's journey of exploring digital technologies and new forms of communication for fashion enthusiasts, inspiring current and future generations to imagine fashion beyond traditional limitations,” says MetaTABI's website.
Maison Margiela president Stefano Rosso said the brand's leap into Web3 fashion was just the tip of the iceberg, sparking yet-to-be-announced digital projects.
“It's literally the beginning of the journey,” Rosso said.