A “digital-first” model is disrupting the fashion sector, as blockchain technology shows advanced capabilities in Web3 e-commerce and sustainability.
Nonfungible tokens (NFT) may be disrupting the trillion-dollar fashion industry, but NFTs are just one piece of a much larger puzzle that is revolutionizing this sector. Rather, blockchain technology as a whole continues to be a game-changer for the fashion industry.
While blockchain-based supply chains served as some of the earliest use cases of how the technology could help detect fraudulent items, digital wearables being built on blockchain networks are now coming to play. Megan Kaspar, co-founder and managing director of Magnetic — a privately held crypto and blockchain investment and incubation firm — told Cointelegraph that digital fashion is a very powerful use case for blockchain technology. However, she noted that many brands remain unaware of the value that blockchain can provide in terms of creating new business models.
The rise of digital fashion and its impact
In order to explain the massive opportunities blockchain can bring to today’s fashion world, Kaspar noted that all brands will initially move to a “digital-first” model in the near future:
Continue reading: https://cointelegraph.com/news/blockchain-enabled-digital-fashion-creates-new-business-models-for-brands
Nonfungible tokens (NFT) may be disrupting the trillion-dollar fashion industry, but NFTs are just one piece of a much larger puzzle that is revolutionizing this sector. Rather, blockchain technology as a whole continues to be a game-changer for the fashion industry.
While blockchain-based supply chains served as some of the earliest use cases of how the technology could help detect fraudulent items, digital wearables being built on blockchain networks are now coming to play. Megan Kaspar, co-founder and managing director of Magnetic — a privately held crypto and blockchain investment and incubation firm — told Cointelegraph that digital fashion is a very powerful use case for blockchain technology. However, she noted that many brands remain unaware of the value that blockchain can provide in terms of creating new business models.
The rise of digital fashion and its impact
In order to explain the massive opportunities blockchain can bring to today’s fashion world, Kaspar noted that all brands will initially move to a “digital-first” model in the near future:
Continue reading: https://cointelegraph.com/news/blockchain-enabled-digital-fashion-creates-new-business-models-for-brands
