Crypto.Com is taking the non-traditional route to venture into the fashion industry by teaming up with digital fashion company DressX. With this partnership, digital wearables will be added to the well-curated platform for collecting and trading NFTs.
Scope of Partnership and Future DressX NFTs
The partnership’s first order of business is to establish the DressX NFT Store on Crypto.com. Then, the AI-backed fashion app will release multiple collections and 1/1 NFT offerings.
For its opening salvo on the platform, DressX will release an NFT Collection which will include pieces from the company’s virtual clothing line. The inspiration is Elon Musk’s private aerospace manufacturer SpaceX. Participants should take note of the schedule because it’s only available for a limited time starting August 29, 2021 at 9 a.m. PT.
Finding a Common Ground: Going Green
Co-founders Daria Shapovalava and Natalia Modenova launched the NFT platform in July 2020. Their main motivation is to reduce the negative environmental footprint produced by the fashion industry. However, their approach was unique because instead of advocating against fashion, they provided an AI-powered solution. Basically, through the app, users can digitally wear virtual clothing and use it in their photos or videos.
This use case is in line with Crypto.com’s commitment to conduct business in a sustainable way. Recently, the platform announced its goal of becoming carbon negative within 18 months. To start, the platform mints artworks through Crypto.org Chain. It is a Cosmos-based proof-of-stake protocol that uses far less energy than proof-of-work protocols like Ethereum or Bitcoin
Crypto.com Executive VP and Global Head of NFT Joe Conyers III shared that the DressX founders’ “mission to harness technology in a way that reduces waste makes them ideal partners. DressX shares our ambition to build incredible things for collectors and bring the future to life, but most importantly aligns perfectly with our commitment to sustainability,”
Echoing Conyers’ statement, Shapovalova, said that they are proud to partner with Crypto.com and support its commitment to becoming carbon negative, as sustainability has always been at the core of DRESSX operations and business processes.”
Milestone: Introducing Fashion to Crypto.Com
Commenting on the partnership, Shapovalova said that, they are very excited to introduce digital fashion to Crypto.com’s NFT community. This will be a huge boost for DressX because according to Crypto.com’s site, its current user base is over 10 Million
Meanwhile, Modenova is raring to get things started. She said, “We love to refer to this collaboration as a launch because it will truly pave a new way for fashion to be sold and worn.”
While waiting for the drop you can try out DressX’s solution and explore Crypto.com’s platform.
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This article is educational material.
As always, make your own research prior to making any kind of investment.
