Stories on fashion and luxury you won't read elsewhere

NFT Series: 2-Fashion, luxury brands ready to embrace NFTs

By Astrid Wendlandt
26/09/21
NFT Series - Episode Two: Fashion and luxury brands ready to embrace NFTs but don’t know how yet
Just as fashion and luxury brands were starting to get excited about the potential of new digital immersive virtual universes, NFTs (or non-fungible tokens), and the whole crypto powered economy, China has pulled the emergency brake. Beijing this week put a blanket ban on all crypto transactions, which they regard as a threat to its financial stability. That sent the value of Bitcoins tumbling down as much as 9 percent. China is already trying to avert a systemic risk — a run on the banks — from another threat, the potential unwinding of some $300 billion of debt held by Chinese real estate developer Evergrande.

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