MION Spa’s experience in woven labels for the fashion industry along with Hedera’s fast and sustainable blockchain technology will create unique, branded NFT labels to support fashion brands on their journey to the Metaverse
LUGANO, SWITZERLAND / ACCESSWIRE / May 17, 2022 / Ang HBAR Foundationan organization that supports the development of building projects on Hedera ecosystem through grants and other resources, today announces a partnership with MIOO TECH, a newco created manufacturer of fashion labels MION Spato include non-fungible tokens (NFTs) on designer fashion labels.
MIOO will allow luxury fashion brands to track origins and create sustainable, metaverse-ready garments that can be seamlessly transferred to virtual reality. The HBAR Foundation will support the development, growth, and launch of MIOO on the carbon-negative Hedera network.
MIOO will be one of the first recipients of the HBAR Foundation’s $ 250 million Metaverse Fund, which supports projects focused on interactive digital experiences.
Luxury fashion brands from Gucci to Louis Vuitton are already embracing blockchain technology as a way to plant product verification systems and eliminate counterfeit products. MIOO plans to take a step back by issuing a corresponding NFT for each individual garment that can be modeled in the metaverse and even sold separately in secondary markets. In doing so, MIOO allows its luxury brand’s customer base to tap into a market that is expected to be worthwhile. $ 50 billion by 2030according to figures from investment bank Morgan Stanley.
In addition, through MIOO, brands will provide provenance certification, which tracks the journey of clothing at all stages of the supply chain to confirm that a product is genuine and made in a sustainable and ethical manner.
MIOO is the brainchild of two co-founders from the world of fashion and art: Niccolò Mion, CEO of MION Spa, a leading company in the labeling sector of luxury clothing and leather products with 230 million labels produced per year, 500 clients in Italy, and 700 worldwide; and Etan Genini, co-founder and CEO of Valurt, a company that supports creators, brands, and collectors through blockchain and art advisory. The pair created MIOO with the vision to use the integration of NFT technology to unlock opportunities for consumer engagement for its luxury fashion brands.
Etan Genini, Co-Founder of MIOO said, “We aim to transform the in-store and virtual shopping experience, allowing fashion brands to convert their products into NFTs to connect and stay in touch. to their consumers. Customer interaction will be tailored to the consumer and brands will be able to deliver specific marketing and communication activities about new products, events, store openings, and more. ”
Niccolò Mion, Co-Founder of MIOO and CEO of MION Spa added: “Thanks to the use of certified blockchain technology on labels, we can now provide many unique clothing, tracking, and added value, both for the end consumer. and for brands that work with us. A promise of authenticity from brands is now a verifiable and unalterable blockchain certification, allowing consumers to gain complete insight into all steps of the supply chain. ”
Thanks to the use of Hedera, MIOO allows collateralization of blockchain items in a fast and sustainable way. Hedera’s technology will allow MIOO to create NFT of purchased clothing in less than a minute while remaining carbon-negative.
Hedera focuses on carbon-negative network operations, purchasing carbon offsets per quarter, as well as providing high throughput and low charge through its Directed Acyclic Graph (DAG) structure that increases speed and efficiency. in the transaction.
Alex Russman, VP and Head of Metaverse Fund at the HBAR Foundation, said: “The MIOO project is set to transform the luxury fashion industry by bringing innovative Web3 technology to the world’s most exclusive designer brands. We look forward to partnering with MIOO to create a sustainability-focused project that delivers verified ownership and authenticity and enables high fashion items to stand out in the metaverse and beyond. ”
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Cryptoland PR for the HBAR Foundation
MIOO, is a company headquartered in Lugano, co-founded in 2022 by Niccolò Mion, CEO of MION Spa, and Etan Genini, CEO and founder of Valuart, with the goal of making all the products of the most recognizable luxury products sustainable. fashion brand “Metaverse Interactive Objects”, i.e., digital objects that are real and valuable, but are also collected and sold on Metaverse thanks to unique labels applied to the items.
The Hedera network is the most used3, sustainable, enterprise-grade public ledger for the decentralized economy. The platform is managed by a council of the world’s leading organizations, including Avery Dennison, Boeing, Chainlink Labs, Dentons, Deutsche Telekom, DLA Piper, EDF (Électricité de France), eftpos, FIS (WorldPay), Google, IBM, the Indian Institute of Technology (IIT), LG Electronics, Magalu, Nomura Holdings, ServiceNow, Shinhan Bank, Standard Bank Group, Swirlds, Tata Communications, Ubisoft, University College London (UCL), Wipro, and Zain Group.
For more information, visit www.hedera.com, or follow us on Twitter at @hedera, Telegram at t.me/hederahashgraph, or Discord at www.hedera.com/discord. The Hedera whitepaper can be found at www.hedera.com/papers
About the HBAR Foundation
Founded in 2021, the HBAR Foundation strengthens the development of the Hedera ecosystem by providing grants and other resources to developers, startups and organizations aimed at launching decentralized applications in DeFi, NFT, CBDC, sustainability, gaming and more. sector. In addition to providing funding through a streamlined donation process, the HBAR Foundation acts as an integrated force multiplier through expert support across technical, marketing, business development and other operational functions required. measure. For more information, please visit https://hbarfoundation.org/ or follow the Foundation on twitter @HBAR_foundation
SOURCE: The HBAR Foundation
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