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 brand’s strategist, on Tuesday.
The NFT project was created in collaboration with 75007 — the world’s first metaverse department store and a sister company of Meta Z Lounge — and Gallerie X, a creative studio that aims to produce digital creations.
L'Dezen is the first fine jewelry company to release a pair of diamond earrings simultaneously as a physical product and as an NFT.
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