Sharky B BurberryLuxury fashion houses Burberry, Louis Vuitton and Louis Vuitton have turned to NFTs to promote their brands.Burberry will release a NFT character named "Sharky B" while a Louis Vuitton video offers 30 NFTs, 10 of which are by Beeple.Fashion brands are keen to tap into NFT buzz. Gucci is reported to be one of the most interested.Subscribe to our daily newsletter 10 Things Before The Opening Bell.As digital art grows in popularity, luxury fashion houses like Louis Vuitton and Burberry are using gaming and non-fungible tokens to promote their brands.Burberry will release an NFT character named "Sharky B" to Mythical Games' multiplayer online "Blankos Block Partie", it announced Wednesday. Burberry's limited-edition "TB" monogram will cover the character. It will be available in-game on August 11.Burberry's chief marketing officer Rob Manley stated that "Pushing boundaries through experimental sits at our heart, and we are constantly looking to connect with communities in the spaces we love,".Separately, Louis Vuitton launched a mobile game Wednesday that allows players to collect 30 NFTs while following the brand's mascot Vivienne from Paris. "Louis: The Game" contains 10 NFTs from Beeple, the digital artist whose works sold for more $69 million at an auction in March.Fashion industry is looking to capitalize on the growing interest in NFTs and their increasing popularity to boost their brand's luster. Vogue Business was told by Gucci and other fashion brands in April that they were considering launching NFTs.Burberry and Louis Vuitton have joined digital fashion companies like The Fabricant. In 2019, The Fabricant auctioned an NFT to purchase a digital garment called the Iridescence Dress. The dress sold for close to $10,000 in a time when NFT was still in its infancy.NFTs can be described as unique digital tokens that are used to represent real-world assets like videos, artwork, and other tangible items. These items can be collected, but they are based on the same blockchain network that cryptocurrencies such as bitcoin belong to. They are not interchangeable as cryptocurrencies, but they have a unique value.
