How Can Blockchain Shape the Fashion Industry?

Disclaimer: The text below is a press release that was not written by Cryptonews.com.

The world of technology is an ever changing landscape. It’s a dominant factor in the changing attitudes towards business, and as blockchain’s rise continues to make waves, even the fashion industry has begun to yield to its influence. Designer fashion brand Faith Connexion are one of the earliest adopters of Web3 technologies within the realms of clothing retail, design and production. The start of 2022 will mark their debut offering in the metaverse via their upcoming collaborative NFT Project, “Faith Tribe” and native token, Faith Tribe Coin ($FTRB).

Both Industries Share Cultural Aspects

Digital fashion consumption has increased since the birth of social media, with platforms such as Instagram being a huge contributing factor to its popularity. Setting foot in the metaverse and NFTs has direct appeal to users of such platforms – Gen Z and Millennials, who are one of  the fastest-growing consumer demographics in luxury fashion. The pre-existent collaborative culture of Faith Connexion will fit hand in hand with the NFT scene. As NFT projects are largely decentralized in nature, the coming together of two worlds through Faith Connexion’s new blockchain based project should set a trend, and send out a message that community and collaboration are the way forward for the fashion industry. The new generation are ready for a world in which the production of on-demand luxury apparel is led by multiple contributors, rather than one creative director.

An NFT Platform Where Fashion Is Minted  

This could be achieved through Faith Connexion’s blockchain-based creative platform, Faith Tribe. It will serve the purpose of streamlining communication between users, designers and artists approved by Faith Connexion themselves, as well as providing easier access to production-scale customization of clothing. First, users will begin the design process by selecting a design template from their thousands-strong archive as a base for their garment design. Next, the design is minted into NFTs, where users can determine a set price or auction, and establish a royalty fee for any secondary market sales. All transactions on Faith Tribe’s NFT Marketplace will also be made using $FTRB. Some users will want their designs to be physically produced, and a Luxury Fashion Marketplace will house these items for sale. Others will simply appreciate the ability to create digital-only fashion NFTs and connect with like-minded creators. Those who choose to pursue the physical production route will have access to 3 options: produce garments only for themselves, hold a pre-sale with limited production, or have open ended production.

Blockchain, Fashion and Ecommerce Working Together

Great innovations such as these come into existence because of good networking and business relationships. Faith Connexion’s partnerships in the fashion-tech sector have breathed life into Faith Tribe as an e-commerce tool, facilitating their access to 3D design, customization, e-commerce and on-demand solutions required to power the platform. For instance with PlatformE and long-time partner of Faith Connexion, that provides a made-to-order (MTO) solution enabling consumers to shop customizable products.  They provide mass customization at scale, on-demand manufacturing, and digital collections across industries, as well as digital only goods. 

Blockchain Will Fortify The Fashion Industry

The arrival of Faith Tribe will begin to align the methodology of a space responsible for the world’s entry into the Web3 era with that of the fashion world. Faith Connexion plans to launch their metaverse project in January, and recently announced the upcoming platform and native token at the Art Basel in Miami. Harnessing the power of creative collaborative effort, blockchain will fortify the fashion industry with a digital infrastructure that will prepare it to engage and empower the next generation of creative talent.