News

Farfetch Aims To Bring Web3 To The World Of Fashion

What does Web3 offer to fashion? Farfetch CEO and founder José Neves is on a mission to blend the real world with the virtual.

Published

2 years ago

August 11, 2022

Nour Nasir

farfetch aims to bring web3 to the world of fashion

José Neves is no stranger to innovation. The Portuguese billionaire and owner of online luxury fashion platform Farfetch revolutionized eCommerce back in 2007, creating a business model that blended boutique shopping with online retail.

Today, Neves is using his innate knowledge of both haute couture and technology to explore how Web3 can enhance the world of fashion. Web3 describes the blockchain-integrated internet, where crypto and NFTs are built directly into platforms, creating a new online world owned by its users. On a recent Most Innovative Companies podcast, Neves explained his enthusiasm for Web3, explaining that “If Web1 was about ‘read’ and Web2 was about ‘read and write’, then Web3 is about ‘read, write, and own’.’’

Neves aims to take the Farfetch brand into the new Web3 environment using their Dream Assembly Base Camp accelerator program, which according to a press release back in July, will:

“Provide a cohort of the most promising Web3 startups in the luxury fashion and lifestyle sectors with a curated program of mentorship, networking, and support in order to help drive the future of Web3 luxury commerce.”

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The 12-week program is a partnership with Outlier Ventures, which has backed startups since 2014. The platform will focus on “digital fashion, tokenized loyalty, immersive experiences, and the creator economy”, with participating startups having direct access to a network of investors and mentors.

Neves believes that with Web3, the potential is endless, with the application of principles of user control and decentralization being a perfect fit for fashion, where people’s styles often act as second personas, or even masks. The entrepreneur now hopes that emerging technology will increase interaction between creators and users, as Farfetch becomes actively involved in the Web3 luxury commerce space with its new accelerator program, yet again standing at the forefront of fashion, culture, and technology.

News

1,000 Drones Light The Dubai Sky For AC Milan Celebration

Cyberdrone’s groundbreaking display marked 125 years of AC Milan football club and the 1st-year anniversary of Casa Milan Dubai.

Published

7 hours ago

November 21, 2024

Nour Nasir

Cyberdrone, a leading UAV display company based in Dubai, put on a breathtaking drone light show on Monday to honor two significant football milestones: AC Milan’s 125th anniversary and the one-year anniversary of Casa Milan Dubai.

The spectacle involved 1,000 drones working in perfect harmony to project AC Milan’s iconic imagery against the city’s night sky. Highlights included the UAVs synchronizing to form the club’s iconic crest, the signature red and black jersey, and a special emblem marking its 125th year. The intricate performance demanded meticulous planning, not just in terms of choreography, but also in dealing with the necessary permits and logistics.

cyberdrone ac milan dubai

“Our goal was to spotlight AC Milan’s legacy through a stunning visual narrative,” explained Mohamed Munjed Abdulla, Director of Sales at Cyberdrone. “We celebrated the club’s history, its Dubai milestone, and the universal love for football. The show also enhanced AC Milan’s regional presence, growing its fanbase through a cutting-edge, memorable experience. Drone shows are unparalleled in leaving lasting impressions, making them perfect for driving partnerships and growth”.

Also Read: Joby Begins Construction Of Dubai’s First Vertiport For Air Taxis

Greta Nardeschi, AC Milan’s Regional Director for MENA, echoed the sentiment, adding: “Collaborating with Cyberdrone for this 1,000-drone performance allowed us to connect with our fans in innovative ways. It gave us a unique opportunity to surprise and inspire audiences while elevating our Club’s visibility and that of our partners. Cyberdrone truly helped us take AC Milan to new heights”.

This groundbreaking drone display sets a new benchmark for the Middle East’s sports sector, which already contributes around $2.4 billion annually to Dubai’s GDP alone. Sporting events also generate $1.76 billion in revenues across the region, while the MENA’s entertainment sector, valued at $41.13 billion, is growing at 9.41% annually, driven by rapid technological advancements.