Foley & Lardner LLP recently issued the following announcement.
Non-fungible tokens (NFTs) are all the rage these days and many in the fashion industry are exploring ways of creating one-of-a-kind, unique pieces to capture self-expression and enhance customer experience. Fashion brands already use blockchain technology against counterfeiting, as well as throughout the supply chain to trace sustainability and ethical manufacturing.
There are various platforms used to support NFTs, but not all platforms are created equal. Most NFTs reside on cryptocurrency-based blockchain platforms, which consume huge amounts of energy, and those platforms do not give the NFT owner actual control over the content itself. Moreover, most NFTs have limited control via smart contracts, and different channels of content distribution for the content using cryptocurrency-based blockchains is not possible.
Please join the Foley & Lardner NFT Task Force and Fashion, Apparel & Beauty industry team, and industry players, for an interactive discussion on the use of NFTs in the fashion, apparel and beauty industries. We will welcome the perspective of brand owners and technology providers as they share their insight into the creation, minting, listing, control, and sale of a fashion NFT in the digital world.
Date: October 28, 2021
Original source can be found here.