One of the biggest consumer markets in the world is the luxury goods sector. Stretching across every continent, the luxury goods sector often procures and sells some of the rarest and most exclusive items to buyers.
But with this exotic market of cars and purses comes an age-old problem; ensuring authenticity. As long as there is a market willing to pay top dollar for exclusive items, there are people who will create and sell fakes.
This issue, however, seems to be getting a solution thanks to blockchain. This comes as the Luxury Asset Club (TLAC), a metaverse-based luxury goods community, has announced the launch of the first ever meta-raffle that promises iconic prizes.
A Piece of Luxury
This meta raffle will see its users vie to win a 3D wearable Hublot watch which was signed by sports legend Kobe Bryant. This is part of a larger bluechip offering by the platform in which an 18k Rose Gold Hublot watch designed and signed by Kobe Bryant, a signed Nike Zoom VIII sneaker, and a 3D equivalent of the watch are up for grabs.
Three winning tickets will be randomly generated by an algorithm and one member will win the physical watch in the end.
The items being offered are very high in demand, with Bryant-related memorabilia being some of the most valuable in the world. Some of the proceeds from the raffle will also be given to the Make-a-Wish Foundation, which Bryant was very active with during his life.
But more than just offering luxury goods and a chance to do some good, TLAC is leveraging the power of blockchain to make sure that the items it offers are authenticated. Luxury brands have, for decades, developed different means to make sure that their authentic products can be spotted by buyers.
With blockchain and the use of NFTs, this process is made much simpler for all involved.
As German Carmona, a successful entrepreneur & senior advisor to TLAC explains, “As a collector of rare artwork, timepieces, luxury real estate and foreign vehicles leveraging NFT’s to authenticate such assets seemed like the next logical progression as the Web3 world evolves.”
Welcome to the Club
Luxury collector clubs have existed in the past, but TLAC takes this to the next level. By providing online access to users from around the world, more people can easily connect to others who share their passions.
Not only this, the members can pool together resources and access some of the rarest assets in the world. The assets they will be given access to will also be properly authenticated, sparing members the trouble of having to do this themselves.
“Authenticating and liquidating such rare items can be costly and quite difficult, these factors are what led us to create TLAC, The Luxury Asset Club, the world’s first Meta-Raffle,” Project
Co-Creator Diamonte Zarba adds.
Over the next few years, we can expect to see more of these luxury clubs pop up across the internet like TLAC and follow its model. And as certain digital assets become luxury goods in themselves, communities around them will continue to thrive.