Global jewelry brand L’Dezen unveiled Tuesday its limited edition non-fungible token creation based on the brand’s award-winning “Blooming of Ages” ring at Meta Z Lounge in southern Seoul.
The founder of the jewelry brand, designer Payal Shah, showcased physical and digital versions of the ring at Tuesday’s event. Founded a decade ago by Shah, the brand has styled diamonds for such celebrities as Lady Gaga, Nicki Minaj and Michelle Obama.
The physical ring, which includes 24 carats of diamonds, is valued at $75,000, according to the jewelry brand.
“The essence of luxury is in heritage and storytelling, which has been conveyed through traditional means. Now, utilizing blockchain technology, NFTs are a new medium to educate consumers and relate a compelling story, amplifying brand resonance and creating more value,” said Susan Shin, the luxury brand’s strategist, on Tuesday.
The visuals and music for the NFT project were produced by Gallerie X, a leading creative studio, with collaborations including Moncler, Dress X and RTFKT.
L'Dezen is the first fine jewelry company to release a pair of diamond earrings simultaneously as a physical product and as an NFT.