Selfridges to sell ‘over the counter’ NFTs

Department store Selfridges is set to step into the metaverse as it announces it has will be selling NFTs (non-fungible tokens) in its physical stores.

The iconic British department store chain says it is the first retailer in the world to sell fixed-price NFTs over the counter.

The company will sell over 1,800 NFTs ranging from around £2,000 to over £100,000 at its London flagship store’s from 28 January 2022.

The move comes as a part of ‘Universe’, a “major multi-dimensional project” launched on Thursday by Selfridges in partnership with Fondation Vasarely and French fashion house Paco Rabanne.

The NFTs will feature either artwork by Op Art movement pioneer Victor Vasarely or one of the first 12 iconic dresses ever created by Paco Rabanne, called the ‘Unwearables’.

Sebastian Manes, Selfridges’ executive buying and merchandising director, said: “As Selfridges looks to the future, we continue to find inspiration in the past. In the case of Victor Vasarely and Paco Rabanne, we have more than fifty years of proposals for the future to explore.

“I love the idea of bringing Vasarely’s art to a social space like Selfridges – alongside the distinct identity of Paco Rabanne – and using their vision as a way to bring emotion, connection and accessibility to the experience.”

Source: Retail Bulletin