Mango Celebrates Fifth Avenue Opening with NFTs
To coincide with the opening of its Fifth Avenue store in New York, Mango is creating five non-fungible tokens (NFTs) based on iconic artworks, as well as a line of digital clothes based on works by Spanish artists Joan Miró, Antoni Tàpies and Miquel Barceló.
The NFTs will be featured in the Decentraland metaverse and on-screens in the Mango store at 711 Fifth Avenue, which is 23,000 square feet. The tangible artworks will also be on display in the store, which marks Mango's first foray into the United States.
The five NFTs will be uploaded to the OpenSea platform, a marketplace for NFTs, although they will not be for sale. However, a collection of digital garments will be available to purchase.
"Through these new projects, Mango is coming into contact with new target markets so that we can understand how younger consumers interact in these environments," said Jordi Alex, Mango's director of technology, data, privacy and security.
According to Mango officials, these new ideas are more like "experiments" than "business ventures." Mango also claims to have established a Web3 branch to investigate the prospects of NFTs and the metaverse.