FDCI x Lakmé Fashion Week partners with WazirX NFT Marketplace to launch NFT mode

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WazirX NFT Marketplace has partnered with FDCI X Lakme Fashion Week to showcase fashion NFTs by designers and artisans. Non-fungible tokens (NFTs) have created a marketplace where digital versions of clothing and accessories are linked to tokens hosted by blockchain. This partnership will mark the entry of the Indian fashion industry into digital assets, a step towards the integration of fashionable technological innovations through blockchain technology. Manish Malhotra will lead the industry by creating five exclusive NFTs that will be available on the WazirX NFT Marketplace in conjunction with FDCI X Lakme Fashion Week. “NFTs are a complete game changer and absolutely something the Indian industry needs to consider and move towards. I will be launching the very first designer NFTs in India on Wazir X Marketplace and launch this initiative through FDCI X Lakme Fashion Week. I hope my participation will encourage more designers and artisans to explore and take advantage of this new opportunity, ”said Manish Malhotra.

According to Jaspreet Chandok, director of RISE Fashion and Lifestyle, fashion NFTs have gained prominence around the world in recent months. Chandok believes this can be a game-changer for Indian fashion which is why they must be the pioneers of the ecosystem in terms of understanding, support and access for designers and artisans.

A pioneer of the NFT segment in India and South Asia, the WazirX NFT marketplace is the most trusted Indian platform for designers, artists and creators who wish to explore the NFT ecosystem. The WazirX NFT Marketplace relies on providing several use cases with NFTs, these fashion themed NFTs being the most recent. The NFT craze has swept across the fashion world and this unique collaboration will revolutionize the Indian fashion industry. For Vishakha Singh, vice president and advisor, WazirX NFT Marketplace, globally, designers have started making a statement using NFTs to engage with fans and customers in the form of loyalty rewards. “With the trend of NFTs in its infancy in India, we believe there is leeway to understand and raise awareness of the different use cases of NFTs. We have seen a promising response to art and music-based NFTs on our platform – this has prompted us to explore new segments, with fashion being the most recent industry to jump on the NFT bandwagon. The fashion NFT space is quite untapped in India and has great potential for growth. In addition, for independent fashion designers, NFTs will certainly be a new source of income, ”she added.

Scheduled for October 6 during the upcoming FDCI X Lakme Fashion Week, the panel discussion will bring together key stakeholders to address the current understanding of NFTs in the Indian fashion industry.

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