These are the stories making headlines in fashion on Friday.
How the NFT marketplace is already raising questions for fashion brands
One of the most incentivizing aspects of NFTs for fashion brands is how with every secondary sale, the original creator receives royalties in perpetuity. Typically, anytime a physical item linked to an NFT (a code on a blockchain) is transferred to a new owner, the NFT itself would generate a 5% sale value and transfer it back to the original brand it was sold from. However, in order to attract more collectors with lower prices and fees, those in the NFT marketplace are leaving it up to buyers to decide if they want to pay the royalties, leaving many fashion brands to question whether it makes sense to dive into the NFT world at all. Business of Fashion
The race to create the first sustainable cult sneaker
For Glossy, Zofia Zwieglinska explores the ongoing challenge for sustainability-focused sneaker brands (like On Running and Allbirds) to create the first cult sneaker made from responsible materials. “Our goal is to demonstrate that it’s possible to reuse carbon emissions and to pave the way as a climate-focused innovator in the performance footwear and apparel space. Our CleanCloud proof-of-concept is a meaningful step forward and also signals there is still significant work to be done,” said Nils Altrogge, head of technology innovation at On Running. Glossy
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Susan Alexandra releases first Judaica Collection
The designer known for her quirky, colorful and typically beaded accessories has further delved into homeware, specifically Judaica. The collection includes a glass menorah in the shape of a watermelon, glass candle stick holders, mezuzahs, yarmulkes and new jewelry. “I wanted to create a fun and fresh way to integrate Judaica into your daily life. These pieces can be enjoyed by anyone, regardless of their religious affiliation.,” says Susan Korn, founder of the brand. The collection is available to shop now at SusanAlexandra.com. Fashionista inbox
Topicals founder is youngest Black woman to raise $10 million in funding
Olamide Olowe, the 26-year-old founder of Topicals, has become the youngest Black woman ever to raise more than $2 million in venture funding, according to Forbes. Olowe’s brand is the fastest-growing skin-care brand at Sephora, and focuses on raising awareness about the connection between mental health and skin conditions. Touching on her former experience as an intern at Shea Moisture, Olowe said, “at Shea Moisture, there was an ethos of doing well by doing good. That inspired me to build Topicals with a social mission.” Forbes
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