Lukso LYXE - has massive potential to pioneer usage of digital tokens in the high-fashion industry. Promoted and partnered with fantastic companies, the market is vast and growing. A not often used strategy, the founders implemented a reversible ICO, to avoid massive price swings and speculation once the token is deployed for use.
LYX is the native cryptocurrency of the LUKSO Blockchain, and is required to secure this decentralized infrastructure. It is used to pay for transaction fees and needs to be locked (staking) to participate in the block production.
Digital Retail Trends
Retail is the industry seeing the second largest implementation of augmented & virtual reality. China is taking an 81% share, and spending is projected to grow at a CAGR of 63.8% between 2018 and 2023.
In July 2020, Burberry teamed with Tencent to introduce its first 'social retail store' in China's technology hub in Shenzhen. Combining entertainment with design for distance, the flagship store allows visitors to unlock a custom WeChat Mini Program that unlocks exclusive product content, audio guides, one-to-one appointments, table reservations and upcoming events. Each customer also receives a digital avatar that evolves the more they interact with the space, with new characters and outfits to discover.
Meanwhile, Shanghai Disney Resort announced a new partnership with SoReal, a leading VR company in China, to offer a more immersive shopping, dining and entertainment experience by 2021.
In October 2020, South Korean retail giant Shinsegae announced its plans to introduce AR service throughout its Starfield Coex Mall, which will offer AR-based navigation assistance along with 3D AR content to allow customers to engage with various brands and products.
Gen Z - AR - VR as a mode of shopping
72%- Gen Z think that through AR or VR, the internet will impact our view of the world constantly, wherever we are.
78%- Gen Z think all software and websites/digital experiences will have digital learning/AI capabilities.
79%- Gen Z believe that with biometrics, internet authentication will be done without keyboards.
The mass adoption of AR will create seamless connectivity, drive augmented commerce (a-commerce) sales and unlock opportunities for marketers to advertise on new platforms.
As we enter the immersive economy, brands and retailers must prepare for a shift from e-commerce to a-commerce. Particularly in the beauty and fashion sector, younger consumers will increasingly demand creative, personalised and immersive shopping journey.
Lukso LYXE - has massive potential to pioneer usage of digital tokens in the high-fashion industry. A not often used strategy, the founders implemented a reversible ICO, to avoid massive price swings and speculation once the token is deployed for use.
"LYXe" is LYX on the Ethereum Blockchain, and is the token that the Reversible ICO returns.
Once the network starts there will be a migration of LYXe to LYX on the LUKSO Blockchain. Both LYXe and LYX represent the same asset but on different Blockchain networks. LYX is the native cryptocurrency of the LUKSO Blockchain, and is required to secure this decentralized infrastructure. It is used to pay for transaction fees and need to be locked (staking) to participate in the block production.
KuCoin - Hack
A hacker hacked a prominent exchange that LYXe trades on. Signifying a few percentage of the of circulating supply will slowly be sold throughout the next few months - which has artificially suppressed the price in the short-term.
Small circulation thus far = potential for appreciation.
As a new project which already has a network, the market value of LUKSO is underestimated.
The founder, Fabian Vogelsteller is noteworthy, as he took part in the creation of Ethereum. Apart from that, there are a lot of fashion industry names in the advisory. If LUKSO partners with at least one company mentioned in the list, then upside potential is unquestioned.
LUKSO is aimed at the $500-billion fashion market & competition is highly limited.
Digital Fashion
Comparing the growing trends in AR - VR in retail, particular among younger consumers, LYXE may explode in popularity as a tool to create a digital individual brand with marquee clothing and items. The ability to have rare goods in virtual reality. A blockchain is required here to validate that the designer track suit you are wearing at a virtual rave is by 'Burberry' and not a so-called skin that anyone on the internet can download.
Authentication
Two areas of fashion could be ripe for the Lukso blockchain. The first is designer accessories like Louis Vuitton handbags. Counterfeiting is rampant in designer goods, but a real Louis Vuitton bag could have a chip embedded into it that is registered on the Lukso blockchain. The chip would create a digital registry authenticating the bag, and could be used to track ownership if the bag was sold. No personal data is collected about the buyers, Hernandez said, unless they want to be known as someone who can afford a $2,000 purse, Hernandez said.
“With luxury brands, a lot of people like them knowing who they are, it’s a slightly different consumer,” Hernandez said, referring to the companies like Louis Vuitton.
The recent explosion of spend on virtual accessories in gaming, and on clothing and accessories for digital avatars presents the highest probability for LYXe to have tremendous success in value as a digital token.
Rules of token allocation guarantee the price of LUKSO (LYXe）
Token Allocation / Proportion / Token release schedule
Sale in KuCoin spotlight / 1% / 2020.05.20
rICO / 20% / 2020.05.27
private sale / 10% / 2020.11.20
Founders & collaborator / 5% / 2021.05.20
Foundation Fund / 5% / 2021.11.20
Community DAO / 5% / 2022.05.20
Grant Program / 5% / 2020.11.20
Ecosystem Building / 40% / 2023.05.20
Reserve Pool / 9% / -
Partners
Dennis "Denyo" Lisk Gold/Platinum Artist Musician, Publisher, Composer, Songwriter Linkedin
Dr. Mervyn G. Maistry Konfid.io Founder & CEO Deutsche Bank Former Group COO Linkedin
Dr. Ana Trbovich Grid Singularity & Energy Web Foundation Co-founder Linkedin
Péter Szilágyi Ethereum Foundation Lead Core Developer Linkedin
Daniel Heaf Nike Vice President Digital Linkedin
Dr. Berndt Hauptkorn CHANEL President of Europe Linkedin
Rajeev Aikkara Burberry Vice President - Digital Technology Linkedin
David Fischer Highsnobiety Founder & CEO Linkedin
Andrea Abrams International Retail and Brand Expert Interconnected LLC Co-founder Linkedin
Tom Florio ENTTech Media Group Founder Linkedin
Caroline Drucker Instagram Head of Strategic Partnerships EMEA Linkedin
Charles Beckwith Greyland Fireworks Corporation Chairman and CEO Linkedin
Yessin Schiegg
NEAR Foundation CFO BlackRock Former Director
https://www.lukso.network/about
https://www.forbes.com/sites/sharonedelson/2020/11/02/blockchain-startup-lukso-explains-the-digital-wardrobe-and-why-youll-want-one/?sh=78f0113cf390