SPIN.FASHION joins the Peaq ecosystem, revolutionizing the luxury and art sectors with digital integration

In a move that aims to catapult the luxury and art sectors into a new digital era, SPIN.FASHION has made the strategic decision to become part of the peaq ecosystem. With a goal of shaping cutting-edge smart product experiences for globally renowned corporations including Vogue and H&M, the platform aims to integrate over 1 million connected real-world assets (RWAs) on the blockchain.

peaq has distinguished itself as a world-renowned permissionless, borderless layer-1 blockchain, designed to power DePINs across multiple industries. Spanning over 25 diverse services and applications, it supports a robust community of half a million RWAs, a diverse conglomeration of devices, robots, vehicles, and more.

SPIN.FASHION’s ambition is to bring to market over 1 million next-generation digital, physical and “phygital” products through peaq’s extensive network, thus transforming the world of luxury, culture and art.

Known for its rapid expansion, SPIN.FASHION provides a platform where luxury goods, cultural items and art can be minted, combined and sold in the chain. As an exclusive platform, it is a pioneer, offering comprehensive solutions based on software and hardware technologies, including proprietary RFID tags, which provide unique and immersive 3D experiences for product owners working with brand partners.

Take art, for example. Owners can be assured of an object’s authenticity through supply chain tracking, while also connecting the physical item to the digital NFT chain, enabling a compelling interaction between the owner and the creator or brand.

Several high-profile brands have ventured into the NFT space, artfully combining real-world goods with their digital counterparts. These products offer a tantalizing glimpse into the future potential of the phygital experience, a technology that is being warmly welcomed into the luxury and art realms. Here, stakeholders are looking not only for proof of authenticity but also for an enriched experience of ownership that transcends the mere possession of an item.

SPIN.FASHION will partner with peaq to lead the upcoming wave of phygital adoption among global collectors and connoisseurs. During the pilot phase, the platform welcomed and engaged over 100 brands and creators and currently showcases over 80,000 digital and physical items. There are solid plans to significantly expand its presence in the future.

The alliance between SPIN.FASHION and peaq promises to revolutionize the future of “Digital Twins” by equipping the RFID tags of new luxury and art drops with peaq IDs, the platform’s exclusive identity standard. As a result, creators can create phygital NFTs or “digital twins” on peaq and leverage the platform’s modular DePIN features.

In addition, peaq is expected to power SPIN.FASHION’s traceability and circularity systems by providing smart contract functionality to promote Web-3-based luxury commerce. With further research and development, peaq has the potential to facilitate XR experiences for SPIN.FASHION in the future, solidifying this partnership’s status as an industry landmark.

“We are incredibly excited to leverage peaq’s modular DePIN capabilities to build on SPIN.FASHION’s core capabilities and position it as the go-to network for our elite brands, artists and creators,” said Lor Albrighi, Co-CEO and Founder of SPIN.FASHION.

Leonard Dorlöchter, co-founder of peaq, shares similar views, emphasizing the significant benefits that the luxury goods and art industries could gain from integrating with the Web3 RWA segment.

The SPIN.FASHION and peaq alliance heralds a new era for luxury and art products, opening up new possibilities for connecting with Web3. This is made possible by SPIN.FASHION’s selection of peaq to present the next generation of phygital experiences.