Sometimes a bag is merely a bag, a container for the trinkets of everyday life. But when it’s an exotic skin purse created by a Swiss atelier and blockchain-authenticated, it’s a Steel — a statement item from a new American accessories brand promising a novel take on the premium NFT experience.
The Palm Beach, Florida-based firm portrays itself as modern, eternal, and artisanal, with an emphasis on mixing old-world craftsmanship with current technologies. Steel’s Swiss-based studio begins with an heirloom-worthy collection of handbags — the art-driven business refers to them as “sculptures” — and accessories, all of which are embroidered by hand from start to end. The collection, which includes French leather and exotic skins such as crocodile, is priced from $480 to more than $12,000. Limited drops and bespoke orders will also be available through Farfetch’s private client service.
From there, old-world tradition collides with contemporary virtual technology, bringing luxury to the virtual world.
Each sculpture has a digital counterpart, with non-fungible tokens produced on the Polygon Blockchain, and the brand makes the process of claiming them less intimidating by using common technology like QR codes and Apple Wallet, according to creator and creative director Nicole Steel. “The experience for the consumer, which is something I’m extremely passionate about,” creator and creative director Nicole Steel said in an exclusive interview.
She wanted to provide a more natural path into technology, so she meticulously planned every step of the way. “They receive the thing, scan [the QR code], and then they physically bind their physical product to the blockchain information that is expressly linked to that product,” she explained. “After that, customers receive an email authenticating their details – they are who they say they are, the product owner… “The data is then downloaded into their Apple Wallet.”
The mention of Apple brings to mind a move announced in early December to prohibit apps such as Coinbase Wallet from transmitting NFTs without a 30 percent fee. The scenario is noteworthy because backing from the world’s leading mobile platforms would go a long way.
Steel, on the other hand, developed a model that makes advantage of a common iOS feature, the Apple Wallet, without breaking the tech company’s prohibition. The brand created a “Passport” for owners using Apple’s PassKit API, which is similar to the actual authenticity card that traditionally accompanies with expensive items. It fits into the mobile wallet “like an aircraft ticket,” according to the creator.
The Passport, in fact, functions as a membership card, granting admission to real-world activities, parties, and other special events. Owners may, of course, opt out of the digital goods and membership and simply enjoy the real-world Steel things in their own right.
Icon Mini Sculpture, Icon 28 Sculpture, Everywhere Sculpture, RockStar SmrtKuff, and Day to Night SmrtKuff are among the handbags and Apple Watch cuffs in the collection.
In Paris, Steel makes its premiere with an original Everywhere Sculpture made of Porous Crocodile and a lock adorned with 213 pave diamonds set in 18K gold, as featured in Farfetch’s Holiday Gift Guide. Farfetch private client stylists as well as steelamericanluxury.com carry it. Other goods will be available in select boutiques and modern art galleries throughout the world next year.
NFTs (non-fungible tokens) are non-replicable cryptographic tokens that reside on a blockchain. NFTs may represent physical assets such as artwork and real estate. By “tokenizing” these real-world tangible goods, you may make purchasing, selling, and trading them more efficient while lowering the risk of fraud.
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