By Shiela Bertillo
Following the continuous growth of Non fungible tokens (NFT), Miss Universe Philippines 2021 is making an impact as the latest brand and the first beauty pageant in the world to join the NFT wave.
The global beauty pageant has teamed up with RedFOX Labs, a Southeast Asian blockchain venture builder, to launch the Miss Universe Philippines NFT collection on September 24. The NFTs are available to purchase with RFOX tokens, which can be bought on Uniswap and MetaMask.
With the launch of the Miss Universe Philippines NFT Collection, RedFOX Labs is expanding the pageant’s reach to the digital world through NFTs, the latest trend that is currently experiencing phenomenal growth. Global NFT sales grew from just $94.86 million in 2020 to $2.47 billion in just the first half of 2021. This represents a growth of more than 2600% with significantly more sales to come.
RedFOX Labs leverages blockchain innovations for its ventures, which span various fields like e-commerce, gaming, media, finance, and the metaverse. RedFOX Labs has a cryptocurrency, called RFOX, which serves as the utility token for its ventures. Under the partnership, NFTs of the Miss Universe Philippines finalists can be purchased using RFOX tokens, adding further utility to the cryptocurrency.
Recently, famous luxury brands such as Gucci, Louis Vuitton, and Burberry are also launching their own NFTs to promote their brand.
Accordingly, to celebrate its 100th anniversary and the upcoming collaboration with Balenciaga Gucci released its first official NFT in a short fashion film inspired by Aria’s collection.
Burberry, on the other hand, collaborated with Mythical Games on an in-game clothing NFT collection featuring a limited-edition Blanko toy called “Sharky B.” It is the first luxury brand to appear in the multiplayer party game Blankos Block Party. (Read More: Blankos Block Party Philippines Beginners Guide)
Separately, Louis Vuitton initiated a mobile game where players can collect 30 free NFTs as they follow the brand’s mascot Vivienne to Paris for a birthday celebration. However, the NFTs in the game are collectibles that cannot be sold.
Many luxury brands are taking on NFTs to create experiences for their consumers, likewise, the one-of-a-kind Miss Universe Philippines NFT collection honors the beauty pageant’s essence of empowerment and grace.
Aside from Miss Universe, last April, Filipino local brand TeamManila also rode the NFt wave as it released two NFTs. The first of which is “Philippine Genesis,” a single edition NFT released on April 14 and available on Rarible, a popular NFT marketplace. Second, “Rizal Gold NFT Coin,” featuring the brand’s iconic “Rizal-with the sunglasses on” design that will come in 20 editions. (Read more on: Iconic Filipino Brand TeamManila Unveils ‘Rizal with Sunglasses’ NFT)
Likewise, in June, Ethernity Chain announced its collaboration with eight-division boxing champion and Philippine Senator Manny Pacquiao to release the boxing icon’s licensed authenticated NFT collection. (Read more on:Manny Pacquiao to Release an NFT Collection on Ethernity Chain)
This article is published on BItPinas: Miss Universe PH to Launch Pageant NFT Collection