peaq, known for its role as the layer-1 blockchain for DePIN and Machine RWAs, is expanding its ecosystem with SPIN.FASHION. This partnership marks a transformative era for luxury and art in the digital realm, as SPIN.FASHION—trusted by industry leaders such as Kering, Vogue, Galeries Lafayette, and H&M—pioneers a cutting-edge platform for minting, connecting, and trading next-generation phygital NFTs.
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At the core of SPIN.FASHION’s innovation lies its ability to tokenize real-world art and luxury items, transforming them into on-chain RWAs complete with 3D digital twins. This integration not only enhances the authenticity of products but also introduces immersive extended reality (XR) experiences for consumers.
Central to this advancement are SPIN.FASHION’s proprietary smart RFID tags, which enable seamless interaction between physical objects and digital environments, ensuring robust supply-chain traceability and authenticity verification.
From Starbucks to Nike, numerous brands have dabbled with NFTs, yet their highest potential resides in the art and luxury market, where authenticity is paramount. NFTs serve as immutable, uncensorable proofs of provenance and authenticity, offering collectors assurance that their acquisitions—a luxury watch, high-end car, or prized artwork—are genuine pieces of craftsmanship.
As the luxury sector embraces a phygital reality, NFTs are poised to redefine consumer engagement, facilitating immersive 3D experiences and novel interactions within the gaming industry. Lor Albrighi, Co-CEO & Founder of SPIN.FASHION, expresses excitement about utilizing peaq’s Modular DePIN Functions to realize the platform’s vision of a user-friendly, sustainable, and scalable infrastructure for smart-products.
“The application of on-chain DPPs marks a transformative moment, ushering in a new era of RWA-Based DePIN circular economy that promises to reshape industries.”
Lor Albrighi, Co-CEO & Founder of SPIN.FASHION
Pioneering On-Chain Luxury and Art Innovation
SPIN.FASHION emerges as the premier platform for on-chain minting, sales, and purchase of art, luxury, and cultural artifacts. As a participant in Project Horizon, an EU initiative for circularity, SPIN.FASHION is at the forefront of developing compliant NFT-based Digital Product Passports. These passports are set to become mandatory for all textile products sold in the EU by 2030, aiming to create over 62.5 billion passports globally in the next five years.
Having already onboarded over 100 leading brands and creators during its invite-only beta phase, SPIN.FASHION is slated for a public launch with peaq as its default blockchain in late Q3 2024. Currently hosting over 80,000 digital and physical items, SPIN.FASHION aims to expand its catalog to over 1 million items within the next 12 months.
Leveraging peaq’s robust layer-1 blockchain capabilities, SPIN.FASHION integrates Modular DePIN Functions into its core infrastructure. Each RFID tag utilized by SPIN.FASHION is equipped with a self-sovereign peaq ID, facilitating the creation of phygital NFTs and digital twins on the peaq platform.
Smart contracts on peaq further underpin SPIN.FASHION’s commitment to traceability and sustainability, enabling secure Web3-powered transactions and the native launch of its token.
“The luxury and art industry stands to gain a lot from joining the Web3 RWA segment, with the added benefits of greater traceability and liquidity. With its knack for innovation, EU compliance, and a vast network of industry partnerships, SPIN.FASHION is well-positioned to be the Web3 gateway for the creative community, and we are thrilled to see it build its multi-faceted platform on peaq.”
Leonard Dorlöchter, Co-founder of peaq
As SPIN.FASHION prepares to launch its multi-faceted platform, the stage is set for a paradigm shift in how luxury and art interact within the digital economy. For more information on this pioneering partnership, visit peaq and SPIN.FASHION online and follow their updates on social media.
Together, they are forging a future where technology enriches the cultural landscape with unprecedented accessibility and authenticity.