How Will Web 3.0 Transform the Industry?

LONDON — For the average consumer, using cryptocurrency to buy a digital fashion item that will live exclusively on a screen seems like an out-of-reach scenario — for now.

Pfrunder has joined the start-up’s advisory board and is working with the Lukso team to register the Karl Lagerfeld photographic archive he inherited upon the designer’s passing, using blockchain technology.Lukso registers Karl Largerfeld’s photographic archive on blockchain. In the same way that blockchain can be used to store the data of a photograph, it can also store data that will help authenticate a luxury handbag, be it real or digital. Once products are registered on the blockchain network, users will be able to trade their different assets.

Lukso is also working toward debuting a digital wallet-cum-wardrobe that will enable users to store all their digital assets within one safe space.Hernandez is readying the launch of a digital fashion marketplace as well, dubbed The Dematerialised, which aims to open the digital fashion arena to the regular fashion consumer, and make transactions as seamless as possible.

The fast conversions of regular consumers means that brands need to start paying attention. Once The Dematerialised launches, the ultimate goal is to start onboarding brands to the marketplace, supporting them in the process of turning their real-life designs into 3D digital ones, and transforming them into digital manufacturers.

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