Six limited edition NFTs will be released by Coach and GQ China
In collaboration with Singapore startup ZKBox, GQ China and Coach are launching six limited-edition NFTs, according to Coindesk. For a more distinct and interactive NFTs experience, ZKbox worked with GQ China’s content development team. Upon release, fans can choose designs, mix and match, and send them through Weibo for a chance of winning one of the NFTs. Weibo is the Chinese equivalent of Twitter.
While ZKBox is one of the many that uses zero-knowledge (ZK) rollups, it also promises to keep security and decentralization intact while scaling Layer 2 of Ethereum. Rollups have been there for two years but are still in the initial stages, and they’re just starting to gain momentum.
As Ethereum’s transaction bottleneck issue still transpires, ORU (optimistic) and ZK rollups are becoming the solution. The gas price hike due to an upbeat in user activity initiated the move to rollups. They made deals off-chain, thus raising the number that can be settled on the Ethereum blockchain. After the move, they are then grouped and sent back for settlement.
According to ZKBox’s PR Director Hailan Jia, Zk rollups are still incomplete. Protocols like zkSync, Loopring, and ImmutableX are still searching for the best NFTs use cases for ZK rollups. Loopring and zKsync announced their support on NFTs last July and August. Just this month, Immutable X, a gaming-focused ZK roll-up-based NFT protocol, established $60 million thru a funding round. In July, Ernst & Young released its own ZK rollup-based protocol.
Following luxury brands
Considering Coach’s first experience with NFTs, they are following other big luxury brands like Dolce&Gabbana. A few DAOs showed interest in bidding for D&G’s flagship NFT token collection. Their non-fungible token collection called “Collection Genesi ” was launched with the luxury marketplace UNXD on Ethereum layer 2 Polygon.
These NFTs showcase the highly-regarded luxury fashion foray into the digital art world. While the collection features “The Impossible Tiara,” it comes with three jackets, two crowns, and two bespoke dresses. Buyers can have access to the VIP world of Dolce&Gabbana as one of the perks.