The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
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For fashion, one of the most alluring prospects for NFTs is how they could help brands collect royalties — forever — on secondary sales of physical goods. Though the mechanics of doing so are not ironed out yet, brands could ideally code NFTs tied to physical products with smart contracts triggered by certain conditions and benefit every time an item is sold, not just at the initial sale. But, technical loopholes used to circumvent loyalties and finicky marketplaces leave brands and creators without ways to enforce rules.
“One of the big principles of Web3 is these royalties are the idea that it’s a creator-led economy, it wouldn’t necessarily be controlled by a big centralised organisation… Except that’s not really playing out,” said BoF technology correspondent Marc Bain.
The role is changing as fashion companies break “digital” responsibilities out of their siloes, leading some to rethink the position.
BoF Careers provides essential sector insights for fashion's technology and e-commerce professionals this month, to help you decode fashion’s commercial and creative landscape.
The end-of-year shopping rush is prime time for cyber attackers targeting businesses and their customers. While costs related to these attacks keep growing, there are steps companies can take to defend themselves.
The search and advertising giant on Thursday announced three new tools aimed at assisting online shoppers with their purchases.