Blockchain ecosystem guarantees luxury products for life with infinitely regenerating products
The battle between the luxury business and counterfeiters is as old as the commodities themselves, with many people accepting the idea of sellers selling realistic-looking knockoffs on bustling city streets and obtaining quality dupes online.
Unfortunately, few people recognise the impact counterfeiters have on the economy as a whole, a reality that has led many businesses to invest in cutting-edge technology like artificial intelligence (AI) to ensure the authenticity of their products. When technology fails, brands turn to the government for the authority to seize and destroy counterfeit items in order to control their industry.
Despite these attempts, according to Harvard Business Review, phoney luxury goods account for 60-70 percent of global trade, with digital commerce playing a key part in these figures. With counterfeiting on the rise, it’s no surprise that firms are wondering what else they can do if these attempts fail.
Kalissa, a new French business, has established an ecosystem based on blockchain technology to ensure luxury products for life in response to these attempts. Users can become the owner of an asset that can be regenerated at a cheaper cost, incorporated into the metaverse, and sold in a marketplace by using nonfungible tokens (NFTs). Through NFT drops, this effectively builds a link between the actual and digital worlds.
A new approach to appreciate opulence
The Kalissa ecosystem ensures that each drop is tied to an NFT as a deed of ownership recorded on a public and decentralized registry, ensuring legitimacy for collectors. Apart from ensuring security, certifying these assets on the blockchain is critical to the ecosystem because it is the only way for users to benefit from product regeneration.
Users can wear and use their exclusive items without concern of hurting them because of product generation. As a result, if an item is broken, scratched, or requires a different size, the Kalissa ecosystem may generate a new one while merely charging the production costs.