Manish Malhotra becomes India’s first fashion designer to launch NFT

"A thought (minted) into digital reality," Manish Malhotra wrote on Instagram

Indian designer Manish Malhotra launched his first five NFTs. (Source: manishmalhotra05/Instagram)

Manish Malhotra has become the first Indian fashion designer to drop five NFTs in collaboration with Lakme Fashion Week.

For the uninitiated, NFT stands for non-fungible token unique and non-interchangeable unit of data stored on a digital ledger. It uses blockchain technology to establish a verified and public proof of ownership.

The NFTs were dropped on WazirX NFT Marketplace.

The designer wrote on Instagram, “A thought (minted) into digital reality; my virtual store on the Manish Malhotra website was an initial step towards expanding into the tech space. NFT had to be the next one.”

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A post shared by Manish Malhotra (@manishmalhotra05)

Among the NFTs was Manish’s hand-drawn sketch of one of his most popular creations — a blue sari worn by Deepika Padukone in Yeh Jawaani Hai Dewaani. Titled ‘Memorable Sketch (2013). The NFT was sold for Rs 20,2319.27.

Also Read | Artist who squirts paint with his eyes destroys canvases to create NFTs

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A post shared by WazirX NFT Marketplace (@wazirxnft)

The other NFT was ‘Illuminous Showstopper’ or Manish’s handmade sketch of the embellished black lehenga he designed for Kareena Kapoor for a 2019 award ceremony. This was sold at Rs 27,5889.91.

Also Read | Dolce and Gabbana just set a $6 million record for fashion NFTs

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A post shared by WazirX NFT Marketplace (@wazirxnft)

The other fashion NFT that was sold was a hand-drawn sketch of his blue chikankari lehenga donned by Alia Bhatt in 2018. “Manish Malhotra’s hand-drawn sketch illustrates the revival of the craft in its modernized form by the women of Mijwan Welfare Society, an NGO founded by Shabana Azmi, Namrata Goyal, and Manish Malhotra to extend support to female artisans by generating education and employment,” read the description on social media. Titled ‘Illustrious Sketch-Chikankari’, the NFT was sold at Rs 16,0935.78.

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A post shared by WazirX NFT Marketplace (@wazirxnft)

The other two were ‘Archival Diaries-Lisa Ray’ and ‘Reminiscing Runways (2013)’.

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