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NFT´s

FASHION AND CRYPTOCURRENY

In this article, we'll discuss digitalization, the metaverse and cryptocurrencies as a part of the new virtual era; their relevance and applications in the fashion industry.

The concept of “metaverse” has been on the agenda for a while now. Currently, we find ourselves at a critical stage regarding innovation. 

The key is knowing how to adapt to these new trends. 

The use of cryptocurrencies as a medium of exchange is becoming more and more common. Online retailers are already adopting this means of payment. Companies such as PayPal have announced a new functionality known as Checkout with Crypto, which allows customers to pay for their purchases with cryptocurrencies.

We must accept that digital fashion is a reality, and NFTs have become the most common cryptocurrency in this industry.

what are NFT´s?

NFT stands for non-fungible token, which means that they are unique assets, something like exclusive sports stickers or a limited-edition vintage clothing item. They include all kinds of digital objects, such as drawings, songs, gifts, and even old tweets.

Each NFT is generated only once, which means they cannot be replicated or replaced. People can create their own NFTs to sell online on NFT’s pop-up Marketplace, and buyers pay with cryptocurrencies.

They can then be stored in the owner’s crypto-wallet and used in any way they wish.

Xataca: Open Sea NFT´S marketplace

how do nft's work?

Cryptocurrencies such as NFT’s are part of a new digital trend. This means of payment is created and exchanged through blockchain technology.

In short, NFT’s are basically blockchain products that can be exchanged on blockchain markets.

Blockchain is a new technology that works through a chain of blocks that record transactions. If they wanted to corrupt a blockchain system, they would have to change all the blocks in the chain. This makes this new system a guarantee of transparency.

Therefore, an NFT cannot be changed without a record, so by means of the code that comes with the NFT the computer can easily verify whether an image is an original NFT or not, as well as identify its entire history.

By issuing NFT digital certificates, e-commerce can provide an incentive for people to buy certain collectible products, as they will get an irrevocable certificate of ownership over them.

Xataca

Proof of ownership and authenticity

 Proof of ownership and authenticity is a popular thing in the world of collectibles because it is essential to guarantee the authenticity of a product. Digital certificates of ownership and authenticity have been around for some time, but with the advent of NFTs the verification process has been streamlined.

Everything is new in the world of NFT, and it still has a long way to go to become truly popular. However, it has already created an emerging trend in the crypto arena, with numerous celebrities and billionaires investing in these assets. It’s a constantly moving market, so keep an eye on trends and any obstacles that may arise along the way.

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