With increasing popularity of NFT, major international fashion luxury brands, media and other institutions are quietly grabing share in the field of NFT this year. The luxury on-chain NFT is gradually becoming a fortune password across dimensions, and is also regarded by more and more people as the next wealth channel.
Following Sotheby’s announcement of $20 million investment in Mojito, UK EARL INTERNATIONAL AUCTION LTD, another giant of the world’s top ten auction houses, also officially announced the marriage of Reva, a start-up enterprise in the field of digital art collection.
Now Givenchy, Gucci, BURBERRY, LOUIS VUITTON and other major fashion luxury goods have all started large-scale cross-border layout of NFT.
Kering, which Gucci belongs to, began to focus on the blockchain a few years ago. Since the birth of blockchain technology, it has the characteristics of transparency, auditability, credibility and low cost, which just meet the “trust and uniqueness” needs of luxury goods for digitization.
Take LVMH as an example. In 2019, LVMH group announced the launch of the first luxury blockchain platform Aura on May 17, which was jointly developed by LVMH, Microsoft and New York blockchain software technology company ConsenSys. Since then, LVMH has become the first luxury group to use blockchain technology to track and verify the authenticity of products on a large scale.
“Every step of the product life cycle is recorded, which tells a new and transparent story.” LVMH said in the announcement. Using this platform, consumers can view the extremely detailed information of products, including product history, digital certificate, distribution path and salesperson. The brand side can check the product sales in real time, predict the future demand, and predict excessive sales in time. For quality control, these data will also provide more insight into supply chain decision-making for brands.
The existence of NFT is not only popular in the…
