Last spring, LVMH, Prada Group and Cartier (Richemont) announced a union around a blockchain project called aura. The consortium is now verifying the integration of the OTB Fashion Group as a fourth founding member.
OTB Group: New luxury and premium brands for the Aura blockchain.
As the concepts of second hand use and traceability gain a place in luxury strategies, homes are being regulated. Last April, when the launch of Aura was announced, the three entities that then headed the project mentioned the possibility of other players in the sector joining the initiative: it is now over with the arrival ofOTB.
More than just a stakeholder, the Italian fashion group – that includes the brands Diesel, Maison Margiela, Marni, Viktor & Rolf or even Jil Sander He was introduced here as one of the founding members of Aura. Unrepeatable and tamper-resistant, this solution secured by ConsenSys and Microsoft technology is intended to act as a passport over the entire product lifecycle, from source to (re)sale, including possible repairs.
“Our ambition is to make a strong contribution to this strategic collaboration focused on developing circular business models, implementing transparent consumer solutions, innovation and sustainability.”
Initiatives are already in place in many homes.
On the occasion of this integration, the consortium has also reported on the progress of several projects within it in recent months. houses Bvlgari, Cartier, Hublot, Louis Vuitton and Prada Among the first homes that absorbed some of the functions inherent in the aura.
LVMH, Prada Group and Cartier also announced that they are accelerating the consortium’s roadmap by, among other things, implementing Aura Light, a SaaS solution for brands wishing to engage in a blockchain project without acquiring the in-house resources needed to develop their own solution.
Among the projects under publication, the founding members finally mentioned the development of NFT (non-fungible code), without further details.
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