French Cloth Brand ‘Balmain’ Pioneers NFT Membership on XRP Ledger

• The French fashion brand Balmain partnered with MintNFT to start an NFT-based membership.
• The loyalty program will be powered by the XRP Ledger.
• The Balmain Thread is the customized version of “The Club.”

Balmain, a leading French fashion brand, has partnered with the premium minting platform, MINTNFT, to pioneer an NFT-based membership program called “The Balmain Thread.”

MINTNFT announced the development on Twitter yesterday, noting that the partnership is the first of its kind by a global fashion house in the Web3 industry.

Additionally, the program will be live on the eco-friendly XRP Ledger (XRPL) by Ripple, a natively sustainable blockchain with fast transaction times and low fees.

James Sun, the CEO and co-founder of MintNFT, said in a report:

We believe Web3 will drive a new wave in engagement, enabling companies to unlock access and provide richer experiences for their communities like never before. As a leader in innovation, both in fashion and technology, Balmain is the perfect partner to deliver this next evolution of NFTs and blockchain.

The Balmain Thread is the brand’s customized version of “The Club,” a membership, loyalty, and rewards program by MINTNFT that uses Web3 technology. The software will smoothly integrate awards, community voting rights, access to real-world and virtual events, and much more to keep users interested, according to a report. Essentially, cryptocurrency ownership or expertise is unnecessary for users.

Balmain’s Chief Marketing Officer, Txampi Diz, also commented: “We’re excited about the future ahead, as the physical and digital continue to merge, offering new ways to introduce this house to broader audiences, as we build upon Olivier Rousteing’s determination to democratize fashion further.”