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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.



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.


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World’s Largest Metaverse Developer Opens Dubai Office

LandVault, the largest metaverse creator, is expanding its presence into the MENA region.



world's largest metaverse developer opens dubai office

LandVault, the world’s largest metaverse developer, will expand operations to Dubai later this month as part of an ongoing strategy to boost its presence in the MENA region. The company aims to help local businesses gain a foothold in the expanding web 3.0 universe and sees exciting opportunities to bolster its client portfolio.

So far, metaverse developer LandVault has lived up to its name, creating and curating over 100 square feet of virtual space for a diverse range of organizations, including the nearby Yas Marina Circuit, Aldar, Mastercard, Standard Chartered, World of Women, Hershey’s, and many more.

The Dubai government’s Metaverse Strategy is one of the key reasons LandVault has been inspired to move to the region, as leaders plan to transform the Emirate into one of the world’s top 10 metaverse economies by 2030. Eventually, it’s hoped that in excess of 1,000 companies in the blockchain and web 3.0 spaces will be inspired to set up entities in the region, creating around 40,000 new jobs in the process.

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“We are excited to open our office in Dubai and to be a part of the vibrant tech community in the UAE. The MENA region is a key market for us, and we believe that our presence in Dubai will allow us to assist the region and explore new opportunities. We are also excited about the potential for the metaverse in the real estate industry in the UAE. We look forward to working with developers and real estate companies to showcase their properties in a new and innovative way,” says Sam Huber, CEO of LandVault.

Alongside developing the metaverse from its new Dubai office, LandVault will also deploy its technology to assist the UAE’s real estate sector. Developers will soon be able to showcase their projects in a way that was never previously possible, reaching a much wider audience with immersive and interactive property tours and even virtual showrooms.

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