NFT Paris recently showcased the tangible utility of non-fungible tokens (NFTs) and blockchain technology, drawing in artists, fashion icons, and luxury brands. Held at the Grand Palais Éphémère against the iconic backdrop of the Eiffel Tower, the event attracted a diverse crowd eager to explore the intersection of Web3 and mainstream industries.
Highlighting the event’s fusion of technology and fashion, attendees displayed not only their appreciation for NFTs but also their impeccable style. Brian Trunzo, Polygon Labs’ VP of Business Development, emphasized the fashion-forward presence at NFT Paris. Trunzo, leveraging his background in law and fashion entrepreneurship, now spearheads Polygon’s efforts in onboarding fashion brands to its Ethereum-scaling layer-2 ecosystem.
Trunzo’s journey into blockchain technology dates back to 2017, during which he began exploring NFTs and their potential applications. He noted examples like Decentraland, CryptoKitties, and Axie Infinity, along with in-game assets like League of Legends skins, as demonstrations of digital ownership in virtual environments.
Trunzo pointed out that despite fashion’s reputation for innovation, many of its core processes, from supply chain to design and retail, remain antiquated and sluggish:
“While fashion is often seen as progressive, the truth is, its mechanisms are outdated. Fashion professionals are intrigued by Web3’s potential to introduce novelty into the market. They recognize the limitations of selling physical items repeatedly.”
He explained that the industry’s relentless pursuit of growth and profit margins is being challenged by the concept of digital goods and process optimization:
“The idea of selling something genuinely new bewilders fashion insiders. It’s as if they haven’t innovated since the inception of hats.”
Major brands like Nike are already exploring Web3 possibilities, with Nike’s Web3 platform, Swoosh, leading the charge. Trunzo highlighted other industry giants like LVMH, Prada, OTB, and Mercedes, who are revolutionizing supply chain and product lifecycle management:
“Blockchain authentication, such as Aura tags, is reshaping retail experiences. Witnessing an authenticated product in-store is revolutionary.”
Arianee, powered by Polygon, has become pivotal in the luxury sector, particularly in watchmaking. CEO Pierre-Nicolas Hurstel projected that by 2024, 30% of premium watches would have on-chain product credentials:
“Watchmakers appreciate the transparency and transferability that blockchain offers. Arianee’s protocol fosters a perpetual connection between brands, products, and consumers.”
Frédéric Montagnon, Arianee’s chairman, underscored the benefits for both brands and consumers, such as maintenance history tracking, provenance verification, and exclusive Web3 functionalities.
Fashion brands are also leveraging Web3 for community building, with platforms like The Sandbox attracting major players like Gucci, Lacoste, and Adidas:
“The Sandbox offers a new frontier for loyalty programs and community engagement. It’s an avenue for young designers to experiment with disruptive product launches and audience engagement strategies, from NFTs to metaverse experiences.”
