LVMH has integrated blockchain technology into luxury fashion

Luxury fashion has been one of the biggest adopters of Web3 technologies in recent months, with various brands accepting cryptocurrency as payment, such as TAG Heuer and Prada Launching their own NFT integrations.

The overall embrace may be due to the adoption of Web3 technologies by the brand’s parent company. LVMH And starting its own blockchain solution platform. For those who don’t know, LVMH (Moët Hennessy Louis Vuitton) is a French luxury conglomerate, headquartered in Paris and owning over 70 luxury fashion brands including names like Dior, Fendi, Givenchy, Loewe, Kenzo, Celine and Tiffany & Co.

In what could be seen as a nod to the debacle of the Web3 space, LVMH launched its own blockchain on 4-20 last year – the Aura Blockchain Consortium. Its founding members include Prada, Cartier, OTB Group and most recently Mercedes-Benz.

Two months ago @Mercedes-Benz Aura joined the Blockchain Consortium as a founding member and it is already an exciting collaboration.

Listen below to hear Gorden Wagener, Chief Design Officer of Mercedes-Benz and Aura Board Member, talk about the vision of the Aura Blockchain Consortium. pic.twitter.com/NCsUlGVbZh

— Aura Blockchain Consortium (@AuraConsortium) June 24, 2022

Focused on providing a more immersive and customized luxury experience, the team has already begun integrating blockchain integrations into its physical offerings. Products from various brands in the consortium have certificates of authenticity through blockchain technology.

Other integrations the consortium is working on include tracking features, the use of RFID and NFC, with the use of NFT-like “digital twins”. These and more are coming to life in partnership with Blockchain Solutions Company. Guided.

One particular use of surveillance is for sustainability, another priority of the consortium’s partnership with the Sustainable Markets Initiative.

Aura Blockchain Consortium is joining the SMI Fashion Task Force. Environmental sustainability has been a key value of the Aura Blockchain Consortium since its founding in planning to use blockchain technology for a more sustainable future. pic.twitter.com/kvI6d2gke3

– Sustainable Markets Initiative (@TheSMI) June 6, 2022

The main goal of the consortium and its strategic partners is to elevate the level of luxury goods and to do so by providing blockchain-based product tracking from start to finish – from raw materials to consumer goods.

In other news, Sotheby’s first art jewelry auction featured some of our greatest modern and contemporary artists.

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