There are a few areas where startups can spark their ideas for web3 fashion:
- Operations. Leveraging the power of blockchain technology, artificial intelligence, and advanced privacy we can track the journey of each product throughout the value chain. But accurate data input across different locations and stakeholders is still a pain point.
Another benefit of web3 fashion startups is that they can use blockchain technology to create a circular economy. A circular economy is one in which resources are kept in use for as long as possible, and waste is minimized. In the fashion industry, this means that clothes can be recycled, upcycled, or repurposed instead of being thrown away. Web3 fashion startups can use blockchain technology to create a platform for buying, selling, and trading second-hand clothes, which helps to keep clothes in use for longer.