Luxury brand Givenchy Parfums, will launch a non-fungible token (NFT) in celebration of Pride. The project is in collaboration with London gallery owner Amar Singh and the Rewind artist collective, and all proceeds will go to an LGBTQ+ group, Le MAG Jeunes association.
The digital artwork will be a series of animated portraits based on photos and reinterpreted with the colors of the rainbow. In total there will be 1952 copies available for sale on the VeVe NFT marketplace.
NFTs can serve many purposes to companies. They can help create brand awareness in the digital space, potentially unlock new sources of revenue, or be used as a “souvenir” reward in promotional campaigns. Another use brands are exploring more is using NFTs to make a stand on social causes.
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