Red DAO Dominates Dolce & Gabbana’s $5.7M NFT Release
Dolce & Gabbana issued an NFT collection consisting of both digital and physical items.
The fashion brand netted almost $5.7M or 1,885.719 Ethereum for it’s Collezione Genesi.
The Red DAO made a name for itself by winning the “Doge Crown” NFT auction for $1.2M.
What is Red DAO
Red DAO aims to bring together members who are interested in supporting the growing digital fashion ecosystem. Red DAO will support, purchase, archive, collect, invest in items, and digital garments in the emerging world of digital wearables and fashion. Red DAO will have up to 40 initial members, who will pool their capital to make investments. Each member can purchase 100,000 Red DAO units for 50 ETH (up to 300,000 units for 150 ETH).
What is a DAO?
A Decentralized autonomous organization is a community run investment pool that allows members to partake in voting on how the org uses the community funds.
Another high ticket NFT apart of this set was won by Boson Protocol. The Glass Suit which is a men’s wearable suit which sold for 351 ($1.047M).
Boson Protocol is a protocol who focuses mainly on developing a decentralized economy.