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Venum and VeChain Launch Innovative Apparel Line Blending NFTs, NFC, and Blockchain Technology

Published: December 15, 2023
Author: Fashion Value Chain

French sports fashion brand Venum has joined forces with Chinese blockchain company VeChain to introduce a groundbreaking apparel line that incorporates NFT, NFC, and blockchain technologies. This innovative collection is making its debut in Venum’s newly inaugurated store in São Paulo, Brazil, and is the outcome of a collaboration with the UFC. It pays homage to Brazilian mixed martial arts (MMA) legends, including Antônio Rodrigo Nogueira (Minotauro) and Maurício Milani Rua (Shogun).

What sets this collection apart is its pioneering use of blockchain technology to ensure the authenticity and provenance of each item. While the full range of pieces in the collection has not been unveiled, it primarily consists of T-shirts, hoodies, and vests. Embedded NFC technology empowers consumers to verify the attributes of these items by simply connecting their devices to the product. Moreover, each piece in this collection serves as a unique digital asset, granting consumers the opportunity to delve into Venum’s brand and the narratives of MMA fighters.

VeChain, in its announcement, highlights the practicality of assigning unique Ids to physical products, referred to as a “digital product passport.” This has significant implications for sustainability in the global economy, offering incentives and gamified experiences that motivate users to choose reused or recycled products.

Beyond the sustainability benefits, NFTs associated with products provide transparency regarding their origin and authenticity, thereby contributing to the battle against counterfeit goods. Additionally, original designers stand to benefit from secondary sales of their creations.

The fusion of physical and digital elements in fashion is becoming a trend, as brands seek to provide consumers with immersive experiences while supporting important causes. According to the 2022 year-end report by the blockchain analytics platform Dune, the fashion NFT sector collectively generated over $245 million in revenue. Prominent examples include Dolce & Gabbana’s token sales, which garnered $23.68 million, and RTFKT and Nike, earning $91.2 million in royalties and enhancing brand recognition. This intersection of fashion and blockchain technology is reshaping the industry, offering new opportunities for both brands and consumers.

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