In a move poised to catapult the luxury and art sectors into a new digital age, SPIN.FASHION has made the strategic decision to become a part of the peaq ecosystem. Pursuing the goal of shaping cutting-edge smart-product experiences for globally renowned corporations including Vogue and H&M, the platform aims to integrate over 1 million connected real-world assets (RWAs) into the blockchain.
peaq has distinguished itself as a world-renowned permissionless, borderless layer-1 blockchain, devised to power DePINs within a plethora of industries. Encompassing more than 25 varied services and applications serves a robust community of half a million machine RWAs, a diverse conglomerate of devices, robots, vehicles and more.
SPIN.FASHION’s ambition is to bring onboard in excess of 1 million digital, physical, and next-generation “phygital” products through the vast peaq network, reshaping the world of luxury, culture, and art.
Known for its rapid expansion, SPIN.FASHION provides a platform where luxury commodities, cultural items, and art can be minted, connected and sold on-chain. As an exclusive platform, it is a pioneer, offering end-to-end solutions powered by software and hardware technologies, inclusive of proprietary RFID tags which yield unique and immersive 3D experiences for product owners allied with brand partners.
Take art for instance, owners can confidently ascertain the object’s authenticity via supply chain traceability, simultaneously linking the physical item to a digital NFT on-chain that allows for an intriguing interaction between the owner and the creator or brand.
Several prominent brands have ventured into the realm of NFTs, ingeniously blending real-world goods and their digital counterparts. These products offer a tantalizing glimpse into the future potential of the phygital experience, a technology that is warmly welcomed in the realms of luxury and art. Here, stakeholders seek not only proof of authenticity but an enriched ownership experience that surpasses mere possession of the item.
SPIN.FASHION will collaborate with peaq to spearhead the impending wave of phygital adoption among global collectors and connoisseurs. During the pilot phase, the platform welcomed and engaged over 100 brands and creators, and already showcases more than 80,000 digital and physical items. Going forward, there are robust plans to significantly magnify its presence.
The alliance between SPIN.FASHION and peaq holds the promise to revolutionize the future of “Digital Twins” by equipping the RFID tags of new luxury and art drops with peaq IDs, the platform’s exclusive identity standard. Consequently, creators can mint phygital NFTs or “digital twins” on peaq and leverage the platform’s Modular DePIN functions.
Moreover, peaq is slated to fuel SPIN.FASHION’s traceability and circularity systems, providing smart-contract functionality to promote Web-3 powered luxury trade. With further research and development, peaq has the potential to facilitate XR experiences for SPIN.FASHION in the future, cementing this partnership’s status as a landmark in the industry.
“We are tremendously exhilarated to leverage peaq’s Modular DePIN Functions to build key functions of SPIN.FASHION and to present it as the principal chain of choice for our elite brands, artists, and creators,” says Lor Albrighi, Co-CEO & Founder of SPIN.FASHION.
Leonard Dorlöchter, co-founder of peaq, expresses similar sentiments highlighting the considerable benefits the luxury and art industries could reap from their integration into the Web3 RWA segment.
The alliance between SPIN.FASHION and peaq heralds a new era for luxury and art products, unlocking novel pathways for them to connect with Web3, thanks to SPIN.FASHION’s selection of peaq as the platform of their preference for showcasing the next generation of phygital experiences.
