Home/ Markets / Cryptocurrency/  Designer Raghavendra Rathore launches NFTs, includes personal artwork collection

Indian menswear designer Raghavendra Rathore has launched a collection of his personal artwork as non-fungible tokens (NFTs) via blockchain technology. He has also released exclusively designed art NFT inspired by his brand for sale as part of a limited edition NFT on the WazirX NFT Marketplace in association with the Fashion Design Council of India and Lakme Fashion Week.

For the first time ever, these NFTs are being created to raise awareness for the initiatives of the designer's NGO, Raghavendra Rathore Foundation (RRF). A part of the proceeds, the designer, will be donated to his NGO to help empower the lives of communities through mentorship programs, cultural experiences and scholarship opportunities.

The NFT is dedicated to and inspired by the students of the Gurukul School of Design in Rajasthan. People can acquire digital artworks and collectibles like clothing, original forms of art, unique experiences and unique moments in time; now captured, exchanged and treasured, to create more permanent ties.

Rathore said the importance of blockchain is something we all need to take into cognizance as sooner or later it will be an inclusive part of life in the near future. "We need to design products and services that are inherent and imbibe this path-breaking technology," he said.

Vishakha Singh, co-founder and vice president of the NFT marketplace WazirX NFT said: “Designers, globally and in India, have started to understand how NFTs can be used to engage with the larger community. use. India has a promising NFT market for creators and collectors."

All collectors will be provided with proof of verified ownership and authenticity of their purchase.

In 2018, Mukesh Ambani owned Reliance Brands picked 12.5% stake in fashion label Raghavendra Rathore's company Future 101 Design for estimated 9.5 crore. At that time, acquisitions in the Indian designer space were unheard of. Reliance Brands Limited, a subsidiary of Reliance Industries Limited later increased its stake to 17.5% stake in Rathore's Future101.

Varuni Khosla
Varuni Khosla is a journalist with close to 14 years of experience in writing business news stories for mainstream newspaper companies like Mint and The Economic Times. She reports and writes on luxury and lifestyle brands, hospitality and tourism news, the business of sports, the business of advertising and marketing and alcohol brands.
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Updated: 07 Dec 2021, 10:42 AM IST
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