Web3’s commerce layer Boson Protocol is partnering with Alterrage, a DAO-led fashion label leveraging blockchain technology, “to create interoperable collections across physical, augmented, and digital spaces.”
The partnership will see Alterrage “open a phygital Web3 store where buyers will be able to purchase the unique collection which is interoperable across physical, augmented and digital spaces.”
The first physical Alterrage product will be “created in a decentralized, made-to-order production system.” This “first-of-its kind” piece will “have unique modular design capabilities providing the consumer with a customized garment to incentivize sustainable product ownership.”
The Boson dApp permits “the tokenization, transfer and trade of any physical asset as an NFT.”
Sellers can “create their own storefronts and experiences that are fully customizable to suit the needs and fit of each individual brand.”
Digital twins can easily be “attached to physical items, opening up a realm of new experiences and opportunity for both brands and individuals.” In addition, through token gated commerce, brands can “provide exclusive access to drops and more.” Buyers can simply “purchase an rNFT (redeemable NFT) and then receive the physical item, or their money back.”
Boson Protocol’s rNFTs are NFT smart contracts that “manage the lifetime of an rNFT between the time a buyer makes a commitment for purchase and when redemption takes place.” The Boson dApp is “underpinned by v2 of Boson Protocol, which has been commended as a primitive piece of Web3 infrastructure.”
Boson was recently “awarded World Economic Forum Technology Pioneer status for its potential to democratize and reshape global commerce.”
Justin Banon, Co-Founder of Boson Protocol, said:
“We are proud to partner with Alterrage to display our protocol in action and the capabilities of phygital items. The partnership signifies the next step in our journey to bridge the physical and virtual world when it comes to commerce as we move from metaverse hype to Web3 reality. Through the launch of v2 of Boson Protocol, we’re offering brands a chance to offer consumers new, truly unique experiences while creating new revenue streams. We look forward to launching alongside a range of amazing partners and brands.”
Boson Protocol completed “a $25.8m public sale in 2021 and successfully raised $10m USD in private investment rounds.” In early 2022, Boson Protocol partnered “with some of the world’s most sought-after brands during Metaverse Fashion Week, including Tommy Hilfiger.”
The Alterrage label “focuses on digital fashion consumers, NFT collectors, and performers making intuitive decisions who appreciate outspoken messages connecting fashion to real world causes.”
Lauren (KALAU) Kacher, Creative Director and Founder of Alterrage said:
“Phygital ownership is the future of the fashion industry. Alterrage will be introducing its first phygital item in an on demand supply chain with Boson Protocol enabling the process of decentralised redemption. Through this partnership, we are building the future of the phygital fashion industry through peer to peer transactions, co-creation, and fulfilment upon demand.”
As noted in the update, Boson Protocol enables anyone “to sell physical things as redeemable NFTs, in a decentralised way.”
Redeemable NFTs (rNFTs) can be “thought of as NFT vouchers for things which can be: bundled to create phygitals & digital twins, programmed to enable token-gating to holders of specific NFTs and configured to return royalties on secondary sales.” Simply purchase the redeemable NFT and “get the physical item, or your money back.”
In March of 2021, Boson completed “a $25.8m public sale, having also successfully raised $10 million USD in private investment rounds.”
Version 2 of Boson Protocol “launches in late 2022 and has been lauded as a foundational piece of Web3 infrastructure, with Boson being awarded World Economic Forum Technology Pioneer status for the potential of this technology to democratize and transform global commerce.”