Disrupt the Fashion and Luxury Market with Faith
As technology evolves, so does business. As blockchain continues to capture the attention of those in the tech world, other industries are beginning to adapt to these new winds of change. Faith Connexion, as a designer fashion brand, is embarking on making an innovative entrance into the NFT space through our upcoming collaborative NFT Marketplace and native token, Faith Tribe coin.
Aligning Culture With The NFT Space
Ecommerce and the way in which social media has grown to accommodate fashion brands has contributed towards the rising popularity of digital fashion. By making strides in the NFT space, Faith Connexion aims to continue to appeal to one of the fastest-growing consumer demographics in luxury fashion — Gen Z and Millennials. NFT culture thrives off of community, and many NFT projects are decentralized in nature. Faith Connexion is already a collaborative brand, and believes the fashion world is ready to adopt their approach. In a world where on-demand luxury consumption is gaining traction, the old model of relying on an internal team led by one creative director no longer appeals to the new generation.
Through community and collaboration, operating as “Faith Tribe”, they aim to unlock new opportunities for designers and creators on a global scale. They are developing the first fully decentralized and community-owned ecosystem for the collaborative creation of fashion items. Creators will be empowered by a multi-platform solution built with the latest blockchain, Web3 and NFT technologies, allowing them to design, customize, mint and distribute their own digital and physical fashion assets. Evidently, not all digital designs minted will be physically brought to life, so we’ve developed a transparent and democratic process in order to determine which garments should go into physical production.
The Creative Process and Token
Faith Tribe is a digital creative platform that will give buyers easy access to production-scale customization, as well as establish a direct channel of communication with Faith Connexion-approved designers and artists. It is on this platform where users begin their design process by selecting a design template from our thousands-strong archive as a base for their garment design. Next comes minting the design onto the NFT Marketplace. Once the design is uploaded by the users, they then set the price (or auction) and royalty fees for if their design is resold on the secondary market. The native token, Faith Tribe Coin ($FTRB) is used to mint NFTs on the platform. The coin will also be used to buy and sell on the NFT Marketplace — all sales are completed with this token, allowing it to become a true utility for the purchase of fashion items. Faith Tribe will also support its designers in the production process for those who want their designs to be physically created. NFT Holders who choose to use this service will have access to 3 options: produce garments only for themselves, hold a pre-sale with limited production, or have open ended production.
Such innovation has been made possible thanks to Faith’s network and relationships in the fashion-tech sector. Their tech partnerships facilitate their access to 3D design, customization, ecommerce and on-demand solutions required to power the platform. Two of Faith Tribe’s key partners are PlatformE and Farfetch NYSE: FTCH). PlatformE provides a made-to-order (MTO) solution to enable consumers to shop customizable products. They provide mass customization at scale, on-demand manufacturing, and digital collections across industries, as well as digital only goods. Farfetch is an online platform connecting sellers and buyers of personal luxury goods, and is the leading technology company in the fashion world with an involvement across all verticals.
Faith Tribe will connect fashion design and production with NFTs and blockchain in a revolutionary way. They plan to launch in January, although they recently had the pleasure of announcing the upcoming platform and token at the Art Basel in Miami. They very much look forward to growing this new creative community, and becoming an integral part of the digital and cultural shift of the fashion world in the Web3 era.