The war between the luxury industry and counterfeiters is a story as old as the goods themselves, with many normalizing the concept of vendors filling busy city streets with realistic-looking knock-offs and finding quality dupes online. Sadly, what few realize is the impact that counterfeiters have on the economy as a whole, a reality that has forced many companies to invest in ultra-sophisticated tech solutions such as artificial intelligence (AI) to verify the authenticity of their products. When technology hasn't been an option, brands have looked to the government for their power to seize and destroy fake goods in an effort to regulate their industry.
Despite these efforts, fake luxury merchandise accounts for 60-70% of total trade, according to Harvard Business Review, with digital commerce playing a significant role in these numbers. With counterfeiting only growing, it is no wonder that brands find themselves wondering if these efforts won't work, what will?
In response to these efforts, Kalissa, a young French startup, has developed an ecosystem based on blockchain technology to ensure luxury products for life. By leveraging nonfungible tokens (NFTs), users can become the owner of an asset that can be regenerated repeatedly at a lower cost, integrated into the metaverse and sold in a marketplace. Effectively, this creates a bridge between the real and digital worlds through NFT drops.
To support the project's mission, Kalissa partnered with Gate.io and SCAF, a French artist, BFM interviews on French TV and more incoming with brands and artists. Through partnerships such as this one, Kalissa will be well-positioned to provide users with a new way to use their luxury products.
A new way to enjoy luxuries
The Kalissa ecosystem guarantees authenticity for collectors by ensuring that each drop is linked to an NFT as a deed of ownership recorded on a public and decentralized registrar. In addition to guaranteeing security, verifying these assets on the blockchain becomes crucial to the ecosystem since they are the only way a user can take advantage of product regeneration.
Product generation ensures users can wear and use their exclusive goods without the fear they might otherwise face of damaging them. Therefore, if an item were to become damaged, scratched or even a new size was needed, the Kalissa ecosystem could create a new one, only charging the production costs. Items remain one-of-a-kind since, upon making a replacement, the user would send back the item they originally held. Product regeneration is also useful for cases where a collector wants to sell their NFT to someone else. Even if the item is not the same size, they would still have the option to return the item and receive a new one.
MORE INSIGHTS FROM KALISSA HERE
As part of a project-wide mission to bring together consumers, collectors, users and investors of luxury goods, purchasing a Kalissa product during an exclusive drop will guarantee the purchaser a percentage of their investment back at any time through the KALI system associated with each NFT. Users will then gain exposure to the Kalissa token. Therefore, since a fixed number of tokens will back the asset, the minimum value will be given to the physical product without relying on speculation based on a certain level of scarcity alone.
Starting with passion
The concept, born by a few passionate about luxury goods and new technology, has resulted in consecutive sold-out drops, which have prompted an opening of society in France and a booth at the Paris Blockchain Week Summit.
To ensure Kalissa continues to shape the way consumers enjoy goods, the team is releasing their IDO alongside international marketing and opening a real shop in Paris and other big cities.