Afterpay Drops Designer NFT “Keys” to New York Fashion Week

Rhea-AI Summary

Afterpay (NYSE: SQ), a leader in BNPL payments, partners with top designers for New York Fashion Week, launching exclusive NFTs. These unique collectibles, priced at $100, allow consumers to experience fashion’s elite while splitting payments into four interest-free installments. Each NFT unlocks real-life perks from renowned designers, including limited edition products and exclusive event access. The initiative aims to integrate blockchain technology in fashion, with a portion of proceeds benefiting Free Arts NYC. Afterpay, part of Block, Inc., is transforming payment experiences globally.

Positive

• Afterpay partners with five notable designers to launch NFTs, enhancing brand visibility.
• Allows interest-free payment plans for NFTs, broadening consumer access.
• Proceeds from NFT sales support Free Arts NYC, promoting social responsibility.

Negative

• None.

ALTU by Joseph Altuzarra, AnOnlyChild, Jonathan Simkhai, Kim Shui, and The Blonds Debut NFTs that Unlock Access to Fashion’s Most Exclusive Moments and Merchandise

NEW YORK--(BUSINESS WIRE)-- Afterpay (NYSE: SQ), the leader in “Buy Now Pay Later” (BNPL) payments and the official presenting partner of New York Fashion Week: The Shows, has partnered with IMG for a third season running to bring the Fashion Week experience to more consumers than ever before.

Afterpay's first ever NFT (Photo: Business Wire)

Afterpay has partnered with five notable designers, ALTU by Joseph Altuzarra, AnOnlyChild, Jonathan Simkhai, Kim Shui, and The Blonds to offer limited edition NFTs available for consumers to mint. Each designer NFT is a one-of-a-kind phygital collectible, serving as a digital object that will welcome fashion enthusiasts into the blockchain while also unlocking IRL access to New York Fashion Week. Each NFT will retail for $100 and, for the first time, Afterpay will allow consumers to purchase the NFTs by splitting the payment into four interest-free installments¹ on Keys.NYFW.com.

The Keys to NYFW

The NYFW digital collectibles will give users ownership of scarce art created by some of the world’s leading fashion designers. Each designer drew inspiration from their Spring/Summer ’23 collections to create their unique NFT, alongside a selection of limited edition products or traditionally unobtainable NYFW experiences including:

• ALTU by Joseph Altuzarra: A special edition logo tote and oversized t-shirt or annual membership to one of New York City’s premiere art museums
• AnOnlyChild: Exclusive invite to AnOnlyChild NYFW after party or a limited edition belt bag
• Jonathan Simkhai: A private meet and greet shopping experience with Jonathan or original, signed runway sketches from his new collection debuting September 13
• Kim Shui: A custom designed hoodie incorporating Kim’s signature dragon motif or tickets to her runway show on September 12
• The Blonds: Exclusive invite to The Blonds’ NYFW after party or a signed copy of “The Blonds: Glamour, Fashion, Fantasy” forthcoming book

All proceeds from the sale of the designer NFT Keys will be donated to Free Arts NYC, bringing art and mentoring programs to children in underserved communities in New York City.

Afterpay’s First-Ever NFT

Afterpay will also issue its first-ever free NFT in a limited quantity, making it easier than ever for consumers to mint a digital collectible on the blockchain while unlocking utilities like a TIDAL HiFi Plus 6 Month Free Trial, access to a NYFW close-friends Instagram group, and an invitation to RSVP to NYFW: The Talks sessions.

Both the designer NFT Keys and the free Afterpay NFT will be hosted on the Polygon network, considered the greenest chain on the block and available in limited quantities beginning August 23. For more information on how to access an exclusive key to NYFW, please visit Keys.NYFW.com.

About Afterpay

Afterpay Limited is transforming the way we pay by allowing customers to buy products immediately and pay for their purchases over four installments¹. The service is completely free¹ for customers who pay on time - helping people spend responsibly by paying over four installments without incurring interest. Afterpay is offered by thousands of the world’s favorite retailers and used by millions of active global customers.²

Afterpay is currently available in Australia, Canada, New Zealand, the United States and the United Kingdom, France, Italy and Spain, where it is known as Clearpay. Afterpay is on a mission to power an economy in which everyone wins. Afterpay is a wholly owned subsidiary of Block, Inc. (NYSE: SQ).

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¹Late fees may apply. Eligibility criteria apply. See afterpay.com for full terms.
²Figures released in Block Q1 2022 results

View source version on businesswire.com: https://www.businesswire.com/news/home/20220823005137/en/

Andres (Dru) Ortega

Afterpay PR

andreso@squareup.com



Stephanie Kraeutler

Bollare

stephanie.kraeutler@bollare.com

Source: Afterpay

FAQ

What new initiative has Afterpay (SQ) launched for New York Fashion Week?

Afterpay has launched exclusive NFTs in partnership with five notable designers, offering access to limited edition fashion collectibles.

How much do the NFTs from Afterpay's collaboration cost?

Each NFT is priced at $100, with the option to pay in four interest-free installments.

When did Afterpay announce its partnership for NFTs?

The partnership and NFT launch were announced on August 23.

What benefits do Afterpay NFT holders receive?

Holders gain access to unique products and experiences, including exclusive invites and limited edition items from designers.

Is Afterpay's NFT initiative environmentally friendly?

Yes, the NFTs will be hosted on the Polygon network, which is known as a more sustainable blockchain option.