Top Crypto traders, investors and even Web2 companies have unanimously started adopting the NFTs and digital art.
Celebrities and famous brands ushered in the era of public blockchain ownership by launching digital collectibles and virtual wearables. Over $21 billion in NFT trading volume was recorded in the last year of 2021 alone, making NFTs extremely popular and valuable in the digital world.
Luxury brands such as Gucci, Adidas, Nike and Louis Vitton have launched their NFT collections to expand at a very fast speed in the digital metaverse.
"Now is the time to bring NFTs to real world fashion consumers by building and growing an ecosystem larger than just digital art and pfps, says Bitliberte growth and product associate, Parth Kavathia and Jeetesh Naik."
This opens up an opportunity for intrinsic web3 platforms such as bitliberte to build an entire FashionFi ecosystem for digital and physical wearables.
NFTs on the blockchain are inherently immune to censorship and centralised authority control in an organisation, making it decentralised and globally accessible to investors, designers, and consumers to have fractional ownership of products and stores.
Bitliberte protocol is a combination of NFTs and DAO offering fractional ownership that helps modern investors create a diversified portfolio that ultimately benefits everyone who participates in the protocol, while taking control of the company's centralised authority.
What is DAO?
The concept of Decentralised autonomous organisation (DAO) is popularised by the cryptocurrency and blockchain industry to encourage people from all over the world to seamlessly come together to grow this FashionFi protocol with a single vision.
It enables the community to make key decisions for the growth of the web-3 based fashion company by voting on the blockchain and investing in specific areas that will overgrow the company globally.
In a DAO protocol, votes are casted by signing a transaction on blockchain and are publicly available. Since everyone’s votes and results are public, users act accordingly by doing activities that promote the reputation of voters and prevent anti-social activities. Bitliberte is the first global fashion company giving out power and ownership to the community with help of NFTs and DAO on blockchain.
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