The fashion and luxury industry, which is known for adapting to new trends and changes in culture, has decided to go all in. For this they have to move to new playing fields. Web3 is one of the most important new companies right now. It is something that Media.Monks has helped clients with in the past.
Web3 is the internet’s next generation. Using blockchain technology, it involves rewiring the way the web works and changing how information is stored, sent, and who owns it. A writer for Harvard Business Review said
“In theory, a blockchain-based web could shatter the monopolies on who controls information, who makes money, and even how networks and corporations work,”
Web3 is used by many famous businesses to build communities, which is a vital part of the customer experience in the digital age. More and more fashion companies are adding digital layers to their existing collector communities by selling NFTs that customers can use to either dress their avatar in the virtual world or get access to exclusive drops in the real world. NFTs are made for a group of people, big or small, who like a certain project or product. They create a new type of online and offline community space.
This information is published by the NFT News media team.
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