Virtual hoodie sells for £19,000 as a non-fungible token
Priya Elan
A virtual hoodie has sold for £19,000, bought as a non-fungible token (NFT).
The black hoodie from the streetwear fashion label Overpriced, emblazoned with an expletive-laden logo in neon green graffiti font, sold on the digital art marketplace Blockparty.co to an anonymous bidder who, through scanning a code, can now “wear” the garment in virtual settings online.
It follows the virtual shoe brand RTFKT Studios’ recent collaboration with the “crypto artists” Fewocious to create a range of virtual footwear, which sold for £2.2m, selling out in seven minutes.
NFTs are one-of-a-kind assets that can take the form of anything digital and can be traded for something else, whether that is cryptocurrency or another piece of digital kit.