vogue business

The latest Vogue Business Newsletter explains why brands are burning experimental NFTs


Vogue Business discusses a new (digital) way for brands to manipulate prices, leveraging scarcity, with examples of different fashion and beauty brands: “a key feature of blockchains and NFTs is that they can't be changed, replicated or deleted, allowing for authenticity, ownership and scarcity. So, what happens if a luxury brand — many of whom are now experimenting with NFTs — wants to change or eliminate an NFT they’ve put on the market? They can burn it.” (full article available online upon subscription)

Magazine: Vogue Business
Country: United Kingdom
Article: Why brands are burning NFTs
Author: Maghan McDowell

24 February 2022