Mango reinforces its commitment to the metaverse with collection of NFTs
Mango has co-created a collection of NFTs based on artworks by Spanish artists Joan Miró, Antoni Tàpies and Miquel Barceló coinciding with the brand’s new store opening at New York's Fifth Avenue on Thursday, May 11.
Located at number 711 of the renowned fifth avenue, the new Mango store will become a "physical, digital and virtual museum" for the next 11 days. The space, which for Mango represents the "starting point of its expansion in the United States," will feature screens displaying the NFTs and will house the works of the three Spanish artists.
In collaboration with Argentine-Hungarian creator Farkas, animation director Adri Bonsai, painter Marcos Tamargo and 3D art specialist and Mango IT team member Ferran Sánchez, the brand reinterpreted two artworks by Miró (Oiseau volant vers le soleil and Tète et Oiseau), another two by Tàpies (Ulls i Creu and Esgrafiats) and one by Barceló (Dilatation), on which they placed garments from the collection available in stores.
Mango's five artworks will be presented at the 16.78 coordinates of Decentraland’s Museum District and be uploaded to the non-fungible token marketplace OpenSea, seamlessly synchronizing the physical experience with the virtual one. Mango will also offer new wearables for sale, including garments and virtual glasses, as well as 100 souvenir t-shirts commemorating the store opening and a POAP (Proof of Attendance Protocol) wearable, which certifies attendance at an event and will be given to people present physically and virtually.
"Through these initiatives, Mango will be able to connect with a new audience and we can begin to understand how younger consumers interact in these environments," said Jordi Álex, director of technology, data, privacy and security at Mango, adding that for the time being the brand does not see the metaverse as a business venture, but rather as a learning experience. The company has created a specific team to develop these digital initiatives, which will recruit new members over the coming months.
Mango, founded in 1984 in Barcelona and present in 110 markets, closed the last fiscal year with a turnover of 2.2 billion euros, 21.3% higher than the previous year. However, sales lagged behind the 2.4 billion euros achieved in 2019. Today, the online channel already accounts for 42% of the company's total revenue. In terms of innovation, the company led by Toni Ruiz announced at the end of April the launch of its own start-up accelerator, in which it invested 3 million euros.
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