Crypto.com becomes the official payment partner for the upcoming meta retail exhibition organized by SPIN
SPIN, a leading web3 metaverse company aimed at disrupting fashion, architecture, and art, will present a meta retail exhibition in Paris at the iconic Galeries Lafayette Champs Elysées.
Combining technology with art
The meta retail exhibition, named “Web3 Fashion: The Origin Story”, will take over the whole of the Galeries Lafayette Champs-Élysées atrium area.
Participants can use their cryptocurrency holdings to purchase “phygital” NFT goods using the Crypto.com payment system. The event began on the 4th of January and will last until the 26th of the same month.
The exhibition, which is divided into a three-part immersive experience, will use technologies such as augmented reality (AR) and virtual reality (VR) to showcase the journey of fashion waste and how clothes and other apparel can be reused and recycled.
The journey is constructed with upcycled materials and allows visitors to become aware of the whole recycling process, culminating in a VR display of phygital goods. Customers have the opportunity to digitally own the 3D digital twin of the garment and make made-to-order purchases using fiat currencies or cryptocurrencies.
All the phygital fashion goods available for purchase at the event were curated by the Galeries Lafayette Champs Elysées (CFS) hub.
Creating awareness of fashion circularity through NFTs, VR, and AR
Kering, a global Luxury fashion group, and its web3 circulation fashion ecosystem, lablaco, are among the parties responsible for the organization of the event. Lablaco’s mission is to support the transition of digital fashion and circularity.
The companies will collaborate to pilot new sustainable IoT (Internet of Things) products, which will be phygital in nature and easily accessible by virtual and augmented reality technology. All purchases will be made use through Crypto.com pay, one of the fastest-growing crypto payment systems. Crypto.com users also have exclusive access to the exhibited phygital NFTs.
All parties involved are committed to taking action and spreading the word about the benefits of circular fashion, a system where our clothing and personal belongings are produced through a more considered model.
The goal is to usher in the future of Web3 circular retail models through the use of phygital exhibitions. These exhibitions promote transparency and user ownership while also showcasing the practical usage of VR and AR technology.
SPIN and Crypto.com
Eric Anziani, the President and CEO of Crypto.com, shared his enthusiasm for the new venture:
“Providing more ways for consumers to engage with cryptos while also supporting the development of the Web3 ecosystem is central to our vision at Crypto.com. We are excited to partner with lablaco’s SPIN in bringing this exhibition to life and at an incredible venue in Paris.”
The application of SPIN technology allows customers to discover the unique journey of each product through the use of blockchain tracing and exclusive IoT label printing. Using a smartphone, customers can scan a QR code on a garment’s fabric label to visualize the item’s journey, impact, and ownership through AR and VR technologies.
