Sustainable Brand Katla Drops First NFT, Proceeds to Benefit Ukraine
Katla is pairing new collections to charitable NFTs in a digital drop timed with International Women’s Day on March 8.
While the official first rollout begins Tuesday on Katla.com with a limited-edition hoodie drop, the conscious clothing brand will launch a series of NFTs in the coming months. Customers can access them simply by scanning the QR code on Katla items (old and new) with their smartphones.
More from WWD
The NFT artwork — three for the initial launch — is done in collaboration with Icelandic artist Hendrikka Waage. The art pays homage to the empowerment of women around the world. Each NFT will be part of an edition of 10,000. The first 10,000 to scan the QR code will each receive their free NFT.
Separately, 100 percent of profits from the hoodies will be donated to CARE’s Ukraine Crisis Fund for immediate relief to families.
“The interesting thing is that you can always generate new content that you can tie into the QR code. So if you have a Katla item from two years ago, you can access this NFT through that,” according to Áslaug Magnúsdóttir, Katla founder and chief executive officer. “We won’t necessarily always do it that way — there might be collections, limited editions where the NFTs are just tied to that, but that offers an interesting opportunity to continue to introduce new content even if you’re not telling people to buy new clothes.”
Katla partnered with a new technology company, Ivy, to make it possible to take ownership of the NFT with one click. Ivy reduces friction with wallets and crypto, enabling a quick scan and click of a QR code that automatically creates a digital wallet for the customer. The platform (accessible via Ivy.cash) also operates without transaction fees, and uses a proof-of-stake verification which offers eco-advantages.
Additionally, the QR codes contain three Golden Tickets. Golden Ticket recipients will get a complimentary new limited-edition Katla x Hendrikka Lady in Gold Hoodie, A Wonderful Beings print signed by the artist and a $500 gift card to be used on Katla.com.
As for what’s next on the horizon, Magnúsdóttir teased a new limited-edition seaweed-blend sweatsuit that will be bundled with unique NFTs. One example is the “OctoForce” (fashionable octopuses that do good) where a portion of proceeds from the sale of the garments (and later resale) will be contributed to ocean regeneration activities, which Katla is getting directly involved with.
“It was nice to do the first launch as a pure giveaway to show people this technology and the possibilities, but longer term, we plan to launch a series of these and there will be a big charitable component tied with them,” Magnúsdóttir said. “I see this as a fun way of doing good. People enjoy NFTs, it’s something entertaining, but at the same time you can be contributing to a good cause.”
Sign up for WWD's Newsletter. For the latest news, follow us on Twitter, Facebook, and Instagram.
