25 Aug 2021 · 2 min read

Crypto.com, Virtual Fashion Platform to Launch NFT Store, SpaceX-Inspired Pieces

Merging non-fungible tokens (NFTs) and fashion, Hong Kong-based crypto platform Crypto.com has unveiled a new partnership with digital fashion business DressX. The collaboration paves the way for the launching of a DRESSX NFT store on the Crypto.com NFT platform, as well as the roll-out of a number of NFT collections, the partners said in a press release.

Source: DressX.com

The first DressX NFT collection is set to include pieces from the company’s virtual clothing line inspired by Tesla CEO Elon Musk’s private aerospace manufacturer SpaceX, and it will be available for a limited time starting on August 29, 2021, the statement said

DressX was jointly created by Ukraine-born Daria Shapovalova and Natalia Modenova in July 2020 with the aim to combat the negative environmental footprint produced by the global fashion industry. Partnering with traditional fashion brands and 3D designers, the platform offers a range of virtual clothing accessible through an app.

The virtual clothes can be digitally worn by users in their photos and videos, and shared across various digital platforms.

Shapovalova said that “Blockchain provides unique possibilities for identifying, owning and utilizing digital assets that are perfect for the digital fashion industry [...].”

The fashion company’s environmental goals are in line with Crypto.com's own objectives in this field, it said. The platform recently disclosed its objective of becoming carbon negative within 18 months.

“DressX shares our ambition to build incredible things for collectors and bring the future to life, but most importantly aligns perfectly with our commitment to sustainability,” said Joe Conyers III, Executive Vice President and Global Head of NFT at Crypto.com, adding:

“Natalia and Daria’s mission to harness technology in a way that reduces waste makes them ideal partners to introduce Crypto.com NFT to the fashion community, as we strive to minimize our own environmental impact.”

Launched in March 2021, the Crypto.com NFT platform benefits from Crypto.com's global customer base of some 10m.

Most recently, the platform announced the launch of its free Crypto.com Tax service in Australia, following the US and Canada, allowing users to generate tax reports, including transaction history and records of capital gains and losses, as well as other crypto-related taxable and non-taxable transactions.

Last month, the business also became both the inaugural partner and one of the global partners of the Formula 1 'Sprint' series, as well as their NFT partner.

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