Non-Fungible Tokens (NFTs) may be familiar to those acquainted with blockchain technology, but for many, they remain a mystery. The market is saturated with quirky monkeys, cats, and other peculiar motifs that might not seem inherently unique or valuable. Media coverage is filled with sensational images and stories of soaring NFT valuations, making it challenging to grasp their true significance and purpose.
Sensational NFTs typically consist of low-quality digital creations mass-produced to generate buzz, support marketing campaigns, or simply for amusement. These NFTs often lack intrinsic value and cater mainly to speculators or collectors who enjoy acquiring unusual items.
On the other hand, serious NFTs hold genuine value and aim to elevate digital art or culture. These high-quality NFTs, crafted by talented artists, resemble traditional art and appeal to both investors and critics.
NFTGo’s clear statistics from the past year highlight the difference between these two types of NFTs, showcasing the current prevalence of supply over demand. After the rapid NFT boom during the lockdown period, demand and supply are returning to normal. NFTs are gradually transitioning from excessively inflated values to more grounded, tangible worth. They often represent new and innovative concepts, which is partly due to investors beginning to discern the real value of NFT offerings. This shift is also related to the increasing buyer education, a crucial factor.
Blockchain technology is steadily infiltrating the luxury sector, with NFTs being used to verify ownership and authenticity of specific luxury products. Thanks to blockchain, these tokens ensure immutability and non-deletion of information, allowing luxury brands to protect and verify their products’ authenticity, maintain customer trust, and enhance value. Another advantage of NFT technology is the ability to track a product’s ownership history, particularly important for luxury items that are often inherited or sold at auctions.
The European Union’s new MiCA (Markets in Crypto-assets) regulation acknowledges these two distinct NFT categories. MiCA provides a clear framework for crypto-assets, expected to support further development and investment in blockchain technologies and related services. The regulation distinguishes between regulated NFTs, such as those issued in large series for investment purposes without a connection to uniqueness, and unique, authenticity-confirming NFTs, which are not subject to regulation.
LIBERAL LARK goes beyond confirming uniqueness through NFTs by offering customers an enhanced experience. For each physically produced coat, an authentic NFT 3D model is sent to the customer’s blockchain address. Using the online 3D/AR configurator, customers can customize both the physical coat and its corresponding NFT according to their preferences. By selecting from various classic, timeless cuts for women and men, innovative natural outer fabrics, and linings, customers can effortlessly create their own 3D coat model on their computer or tablet. These bespoke creations are then tailored to the highest global standards.
LIBERAL LARK’s coat configuration options empower customers with freedom, personal responsibility, and decision-making.