BoohooMAN enters the metaverse with first-ever NFTs launch

BoohooMAN is to enter the metaverse after launching its first-ever collection of non-fungible token (NFTs).

The brand, which is part of Manchester-headquartered Boohoo, has said it is the first of its kind to make the move and it is also giving one away for free.

An NFT is a digital asset that belongs to the person who has it in their crypto wallet.

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A record of value and ownership is stored on a blockchain ledger that anyone can view, but only the owner has permission to alter.

BoohooMAN’s NFTs will be sent to the winners’ crypto wallet via OpenSea.

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Chief executive Samir Kamani said: “Blockchain technology and NFTs are on the tip of everybody’s tongue and have been for quite some time.

“We have seen luxury brands flock to the metaverse one after another, but we are yet to see any fashion brands in our market enter the space.

“At BoohooMAN we see a future for digital fashion. This collection is us dipping our toe into the vast and complex landscape of the Metaverse.

“This is our first experiment with non-fungible tokens and we have great expectations for future NFT collections, collaborations, digital fashion pieces, games, and more.”

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