TORTOLA, BVI / ACCESSWIRE / September 10, 2021 / Trace Network Labs (formerly Trace Network) began its journey with a focus on creating an NFT-based enterprise-focused DeFi protocol. While the company remains committed to this vision, it had also planned to use its ongoing work toward NFTs and its Bling marketplace to bring its luxury and lifestyle industry partners to Metaverse.
Trace Network Labs is now working to build a technology protocol to create one NFT-based lifestyle protocol for metaverse.
Announcing this, Lokesh Rao, co-founder of Trace Network Laboratories he said: “People need clothes to wear, accessories to look good and their own digital avatars to wear these NFT lifestyle products in their choice of metaverse. At Trace Network Labs, we are enabling products Multichain and multiverse lifestyles for these digital avatars.They aim to create a gateway for lifestyle brands to enter MetaVerse along with their physical presence in the real world, allowing consumers to take the lead. its lifestyle along with its digital avatars to any metaverse.This means that the user can easily transfer and travel with their NFT consumables from one metaverse to another with ease.
With a new set of product and service kits, we are working to incorporate our luxury and lifestyle industry partners into Metaverse and offer their NFT lifestyle products as portable and consumable items. to Metaverse. virtual space “.
What is Metaverse
Imagine joining a music concert with your friends while sitting thousands of miles away from them. The metavers allows us to be transported to digital parameters that feel real, such as a nightclub or a mountain top, and so on.
Metaverse is a shared virtual space that has been created with the convergence of enhanced virtual reality, augmented reality, and the Internet combined. Simply put, the metaverse is just a digital layer of our lives. The metaverse will exist once everything we do digitally is fully connected.
There has been a continuous evolution in the Metaverse space, but the pandemic (Covid-19) has made us live most of our lives online, thus creating a very immediate and desperate need to create an improved virtual world where can follow a lifestyle in virtual world as if they were living in real world.
To bring the real world to virtual reality, one would have to bring one’s own taste for lifestyle according to the metaverse space in which they find themselves. It’s as simple and exciting as sitting on the couch at home occasionally attending a virtual meeting with your favorite. 3-piece brand dress.
The pivot of lifestyle
The lifestyle industry pivots on the digital domain. The limiting lines of Art-as-an-NFT have been blurred in recent months, where we have seen a gradual but steady movement of the lifestyle products industry into virtual space. With the advent of the blockchain and a shift in power to the consumer, the luxury and lifestyle industry is preparing a major overhaul in which the creator and customer will lead the transformation through NFT and the virtual world. called Metaverse.
NFTs, which act as digital twins of a real-life physical product, while proving their authenticity and provenance through a blockchain. In an industry driven by originality, authenticity and exclusivity, this marriage between tangibility and tokenization through an NFT makes perfect sense.
However, with the convergence of the Avatar-driven Metaverse, this tangibility is transferred to the digital realm where a user’s avatar can not only possess an original item via an NFT, but can also make a statement. fashion on virtual space. This wearable and wearable lifestyle product on the metavers is the next frontier of the luxury and lifestyle industry.
Connect the experience to virtuality
It must be understood that this goes far beyond having collectibles in the virtual space: it is about creating an identity, offering new experiences and building decentralized communities in the virtual world. Harnessing the true potential of an NFT lifestyle in metaverse will require changing the user experience from a store experience to not only digital but also virtual.
The luxury and lifestyle industry is looking to erase this niche in the metaverse and take advantage of the huge commercial potential of the virtual goods market; which according to Statista, will grow to $ 190 billion by 2025.
Some brands have already begun to move in this direction with a new product category, the digital NFTs of their product. Loreal has recently launched its digital product category for users to use in Zoom calls. Burberry launched its digital category so players could take it to games.
With Facebook also declaring the transition from “being primarily a social media company to being a metaverse company,” and Zoom allowing the interaction of individual avatars to interact in virtual meeting rooms, it’s only a matter of time before the virtual scene of the true Kingsman hologram.
Trace Network Labs is working to build a technological protocol to create a NFT-based lifestyle protocol for metaverse, to allow its luxury and lifestyle industry partners to enter the Metaverse.
For more information, follow us on Twitter (@trace_network) and join our community at Telegram (@tracenetwork).
Trace Network Labs
SOURCE: Trace Network Labs
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