Venum and VeChain launch tech-infused sportswear collection

Venum, a prominent French sports fashion brand, in partnership with the Chinese blockchain company VeChain, has launched an apparel line that integrates NFT, NFC, and blockchain technologies. This new collection is making its debut in Venum’s newly opened store in São Paulo, Brazil, and is the result of a collaboration with the UFC. It pays homage to Brazilian mixed martial arts (MMA) legends like Antônio Rodrigo Nogueira (known as Minotauro) and Maurício Milani Rua (known as Shogun).

What sets this collection apart is its use of blockchain technology to guarantee the authenticity and origin of each item. While not all the pieces in the collection have been unveiled, they predominantly consist of T-shirts, hoodies, and vests. Through embedded NFC technology, consumers can verify the attributes of these items by connecting their devices to the product. Furthermore, each piece in this collection serves as a unique digital asset, offering consumers the means to explore Venum’s brand and the stories of MMA fighters.

VeChain, in its announcement, has underscored the practicality of assigning unique IDs to physical products, referred to as a “digital product passport.” This has significant implications for sustainability in the global economy, offering rewards and gamified experiences that encourage users to choose reused or recycled products.

In addition to sustainability benefits, NFTs linked to products provide transparency regarding their origin and authenticity, thereby helping to combat the prevalence of counterfeit items. Additionally, original designers may reap the rewards of secondary sales of their products.

Numerous fashion brands are now blending physical and digital elements to provide consumers with immersive experiences while addressing important causes. According to the blockchain analytics platform Dune’s 2022 year-end report, the fashion NFT sector collectively generated over US $ 245 million in revenue. Notable examples include Dolce & Gabbana’s token sales, which generated US $ 23.68 million, and RTFKT and Nike, which earned US $ 91.2 million in royalties and brand recognition.