Did you know that the streetwear market has doubled from 2015 to $300 billion? It looks like the growth of streetwear isn’t slowing down anytime soon, thanks to a solid foundation and pre-existing subculture. This is why we are excited to write about XTERAT_, a fashion tech business that is leveraging existing blockchain capabilities to offer solutions to Streetwear brands seeking to authenticate their creations. It is an innovation that is also targeting users seeking to display their curated fashion collections.
Introduced to us by Isa Kivlighan, the Co-Founder of XTERAT_, the company explained to us how they authenticate items and ownership through digital certificates created on blockchain technology. These certificates can then be used to certify limited edition goods, validate provenance, facilitate marketplace trading and carry the physical design into the digital realm (gaming/AR/VR).
Targeting GenZ, a generation expected to constitute 40% of customers by 2020, XTERAT_recognises that Millenials have over $1 trillion in purchasing power. This is why XTERAT_ is social. They have made it easy for buyers to showcase their digital wardrobes, take them into digital realms, and follow brands.
Such a brilliant idea, it is no wonder that XTERAT_ are not alone in thinking this. Competitors include Louis Vuitton’s Aura Platform and Lukso and Provenance. They are not worried about competition because XTERAT_ knows that their technology can let retailers market their brand, instead of falling under Louis Vuitton and also the company is built on the
So if you like the idea of securing physical clothing assets on the Ethereum blockchain and authenticating what you own, then you should opt for the world of XTERAT_, a platform for digital wardrobes.