Buying a Rolex watch or a Chanel bag with Bitcoin? It becomes possible with LuxFi. With the vision to bridge the gap between real-world luxury assets and digital assets like nonfungible tokens (NFTs), LuxFi has announced the planned launch of its NFT marketplace. The introduction of LuxFi’s marketplace allows everyone to buy, sell and invest in luxury assets through NFTs with the possibility of using cryptocurrency and traditional payment methods.
The phygital world of luxury evolved into an integral part of the human experience. With the recent worldwide impact of the COVID-19 pandemic and the increasing demand for luxury assets, the luxury market has delved deeper into digital initiatives. The digital revolution has won over the hearts of consumers worldwide, and the prosperous global luxury market has displayed no signs of stopping soon.
LuxFi’s NFT marketplace
LuxFi is among the pioneers in the luxury industry to recognize the potential of NFTs. The company will launch a platform to assist consumers by circumventing the existing challenges and create a sustainable ecosystem in the luxury market. This comes in the form of the world’s first asset-backed NFT marketplace for luxury assets, integrated with advanced technologies to allow permanent traceability, authentication and asset transferability.
With this marketplace, LuxFi is able to establish an ecosystem for buyers and sellers. As they are working directly with brands and manufacturers, the platform enables people to buy, sell and invest in luxury assets that are authenticated by professional verifiers in their network. The new owners don’t necessarily need to redeem the physical products for future reselling, and their luxury asset-backed NFTs can be used as collateral for loans, or be sent and transferred in different games and live streaming platforms among other features. New owners can always redeem the physical items in the real-world.
LuxFi’s innovative platform goes beyond solving the pain points previously mentioned, it provides consumers with an alternative method to invest and potentially assists those who otherwise have difficulty accessing loan banking services to get financing services.
LuxFi also collects data from global online and offline sales channels, as well as social media platforms for luxury assets. The data is analysed and benchmarked against global trends to provide an accurate pricing for each NFT on the platform.
A consumption item that was once viewed as mere satisfaction for consumers to splurge on, now possesses the ability to be transformed into assets that are not only valuable but also investible. LuxFi NFT marketplace’s launch will surely garner attention from the public and revolutionize the luxury industry through its inventive use of blockchain technology.
LuxFi is on its path to transform the luxury industry for a brighter future. You can find out more about LuxFi’s progress and developments through the social media below.
You may win a Rolex with 0.01ETH — LuxFi’s NFTs auction and lottery on Sept. 26
LuxFi is grateful for all the genuine support that their community has given to them. To celebrate their upcoming launch of their NFT marketplace, LuxFi is going to hold its auction and lottery on Sept. 26 at 10:00am UTC until Oct. 3 at 10:00am. For each 0.01ETH, the participant will get one lottery ticket to get a chance to be a winner of the top prize, a Rolex watch NFT.
Nonfungible tokens (NFTs), a form of token that provides the ability to tokenize assets online through a certificate of ownership, has inspired luxury brands and their recent evolutions. With an industry plagued by multiple challenges including counterfeiting, lack of transparency and illiquidity, NFTs have the potential to mitigate these risks and enable buyers and sellers to securely buy, sell and invest in luxury assets in the phygital world.
Blockchain is the missing piece in the luxury market puzzle, it allows for the creation of physical-to-digital links between goods and their digital identities. A seal or serial number acts as the physical identifier, linking back to the product’s “digital twin.” This digital identity is what brands are currently betting on, and it’s on the micro scale that experts are expecting blockchain to make a real difference. Looking forward, luxury brands will play an important role for authentication at the earliest manufacturing stage and the professionals in LuxFi’s retailers network as verifiers for the existing luxury assets circulating in the market. It gives them the possibility to sell products linked to digital identities, fostering trust from the customer’s side and improving the customer-brand relationship.
Using blockchain technology, the entire lifecycle of any product can be monitored and tracked with a decentralized and tamper-proof digital ledger, all while maintaining the owner’s privacy and security.
Aidaa Wong, CEO and Founder of LuxFi said:
''New technologies are unlocking limitless possibilities in the luxury market. As the CEO and Founder of LuxFi, our goal is to build the world's first asset-backed NFT marketplace for luxury assets. I believe the whole industry is increasingly moving toward a more positive and sustainable ecosystem. The advent of blockchain technology was a huge milestone for many industries and today, blockchain is the new black in the luxury market. Through our NFT marketplace, we envision a secure place for people to use cryptocurrency to buy, sell and invest in authentic luxury assets. All of our NFTs value is backed by real-world data. We are looking forward to exploring further the multiple possibilities of what our luxury asset-backed NFTs, blockchain-based data intelligence system and ecosystem could offer. This is a revolutionary time in the way we consume luxury assets!"
LuxFi is the world's first luxury asset-backed NFT marketplace, leveraging on a big data intelligence system and unique algorithm for automated data collecting and data processing. LuxFi eliminates counterfeiting while minting an NFT on their multi-chain blockchain network, and provides an accurate NFT pricing that is backed by real-world data. IDO will take place in October 2021. Follow our social media for further details!
Telegram Official Group: https://t.me/Luxfiofficial
Telegram Announcement Channel: https://t.me/luxfinews