Web3 technology is already reshaping industries. Sports, music and fashion are just three industries seeing the benefits of decentralisation and improved monetisation mechanisms. Discover how with the blog below.
. This has given brands the opportunity to tie real-life experiences and products to the digital assets their communities own.
IP laws and ownership form the basis on which the music industry operates, with ironclad contracts and documentation that dictate who gets a share of the $26 billion global music industry. For example, one NFT platform combines Web3 and sports by digitizing soccer, baseball, and basketball athlete cards to allow users to create their fantasy teams. The players are also able to submit their line-ups to global tournaments to compete against one another, giving players a new way to connect with other fans. This allows players to personalize their dream matches virtually on platforms that are backed by the biggest names in the sporting world.
Louis Vuitton, Paco Rababanne, Gucci, and Prada are among the brands that have already released their own NFT lines. Some of these fashion NFT projects were also issued alongside physical pieces from their limited edition or vintage collections. Web3 also addresses one of the fashion industry’s biggest issues: supply chain transparency and traceability. With Web3, every step of the supply chain can be recorded on a tamper-proof blockchain ledger, enabling secure and decentralized tracking of goods from the source of production to the point of sale. This immutability is the key to resolving issues such as human rights violations and counterfeiting.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Memorial Hermann Cypress sports park becoming reality: $8.2M facility includes pro training equipment, sports medicineMemorial Hermann Cypress breaks ground on $8.2M sports park with pro training equipment
Read more »
Revolutionizing Recycling: Transforming Industrial Waste Into Eco-Friendly Plastic Through Artificial PhotosynthesisLow concentration CO2 can be reused in biodegradable plastic precursor using artificial photosynthesis. A research team led by Professor Yutaka Amao from Osaka Metropolitan University has successfully demonstrated the synthesis of poly-3-hydroxybutyrate, a biodegradable plastic, from waste aceton
Read more »
Horse nations: Animal began transforming Native American life startlingly earlyAfter the Spanish conquest, horses transformed Native American tribes much earlier than historians thought. LongReads
Read more »
Analysis: From manual pricing to ChatGPT: How Air India is transforming under TataAir India, until recently tied to an antiquated manual pricing system when setting airfares, is shifting to algorithm-based software long used by rivals to help it squeeze out more revenue from each flight.
Read more »
Shrapnel wows at GDC, Undead Blocks hot take, Second Trip: Web3 GamerFirst person blockchain shooter playSHRAPNEL blows them away at GDC, EveOnline 's $40M blockchain spinoff, yugalabs Second Trip invites Fornite comparisons and more. Check out this week's Web3 Gamer.
Read more »
Web3 Gamer: Shrapnel wows at GDC, Undead Blocks hot take, Second TripWhat is the new Kill To Earn zombie shooter UndeadBlocks like to play? Callan Quinn learns how to die again and again while taking it for a spin. Plus Shrapnel blows them away at GDC and EVE Online and MapleStory expand to blockchain.
Read more »