Announced on hypebeast, NFTs are coming to a hoodie near you.
The first auction of an NFT sweatshirt just concluded and brought in $26,000.
As NFTs continue their parabolic entrance into mainstream media, top brands are exploring how to blend digital and non-digital experiences. This week, Overpriced.™ announced their NFT clothing line (beginning with their hoodie release) stating they are creating “fashion for the crypto generation.” The auction for the first piece was released on Blockparty.co and includes an NFT as well as sweatshirt hoodie.
The starting price for the auction was $25,000 which may have discouraged certain collectors as the secondary market for NFTs has cratered in recent weeks as flippers outpace true collectors.
Overpriced.™ is the brainchild of James Zwadlo and Chris Lefett (the successful creators of the Patrick Mahomes NFT). Only 10 of the 25 hoodies will be auctioned off. The remaining hoodies will be gifts to influencers (We bet Paris Hilton is gifted one).
The team states that each hoodie will have a unique v-code that gives wearers the ability to show off their NFT. Additionally, each hoodie is protected as if an item is damaged or lost the wearer can invalidate the v-code and receive a new hoodie from Overpriced.™.
“We are a group of artists looking to create art-powered crypto fashion that aims to challenge the conceptions of what luxury fashion is,” states Leighton James.
We are excited for the team to sell their first piece and have faith that they’ll figure out the market as the NFT community grows over time. Although the auction likely didn’t meet initial expectations, It was still successful.