Exclusive: Why Vogue Singapore and Other Fashion Magazines Are Hitting NFTs
Also this month, Vogue Arabian publisher Nervora will showcase a Dolce & Gabbana NFT collection in the luxury NFT marketplace, Unxd, to coincide with the brand’s fashion show in Venice. Although this specific project is not related to the Vogue mark, there are future NFT projects for publication in the works. “The best way to describe the role Vogue and powerful media games in the world, is as cultural creation and preservation, ”said Shashi Menon, founder of Unxd and founder and CEO of Nervora. “The opportunity around NFTs is an extension of that. It’s a new canvas for storytelling, cultural creation and consumer experience, which just happens to be made possible by technology.
Mergers between NFT and fashion magazines can help translate the value of non-fungible tokens to the fashion audience and give print media a new angle of relevance. Fashion market NFT Neuno, slated to launch in October, says it is in talks with at least four publications to digitize magazine covers. “We wanted it to be acceptable to people who read Vogue or buy Net-a-Porter,” says Duncan Woods, Creative Director at Neuno.
Fashion magazine editors also have a unique perspective on what luxury brands and their customers react to, which gives them an edge over tech companies trying to appeal to fashion, Menon explains. Outside of fashion, this is already being tested by other media titles. Fortune recently auctioned off a few limited NFT covers and raised $ 1.3 million, while TimeNFT’s NFT blankets sold at auction for $ 435,000 in March. In May, Cybr Magazine released a full NFT magazine for the equivalent of $ 150, which included holograms, animated ads, and digital fashion essays. “Magazines have been fighting for a long time. Magazines are really excited about the opportunity for a new source of income, ”says Woods. A longtime UK magazine, he says, is considering selling some of its best covers as a collection, in addition to potentially creating new content such as a movie that matches the content or an alternative NFT cover. Another approach he is considering is to purchase an NFT to receive the physical magazine.
“We have to live and there is a cultural conversation that we have to take on,” says Bettina von Schlippe, editor of Vogue Singapore. “Vogue has done so throughout history. It has never been unrelated to what is going on in society and has always been a representation of what is going on. It’s just part of the responsibility we have as a media to advise, educate, inform and entertain people.
More than buzz
Vogue Singapore is not new to technology. Launched in 2020 during the pandemic, it began with a 360-degree digital experience in place of a launch gala, and soon after, it introduced augmented reality “holograms” that allow readers to view images. 360 degree mobile models in their own space by scanning a QR Code. The printed September cover is also a QR code which when scanned introduces several digital covers.