Metamall Partners With Jigen NFT Provider To Offer Safety For Brands In Metaverse
Metamall, the Web3 Metaverse platform offering an enhanced retail experience to shoppers, designers, property/space owners, and marketers, is today announcing a partnership with Jigen, the luxury NFT provider. The move is expected to enhance the value of the Metamall brand and token ($MALL) while also bolstering Jigen’s position as a premium NFT provider and designer for luxury brands.
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Jigen ($JIG), available on Pancakeswap, is the first NFT gateway for fashion and luxury items in the Metaverse. It offers easy onboarding of existing designer brands to the blockchain. It further allows for the cross-chain transfer of NFTs that can be traded on a secondary market.
Jigen solves the problem of counterfeiting within the luxury branding industry, as these items can be monitored on the blockchain, along with the entire supply chain. All Jigen NFTs are backed with physical NFTs, redeemable through an application.
Jigen is establishing its own bespoke brand and also offers custom NFT design for companies and projects. Existing fashion brands can use Jigen to ensure that their product is legitimate. This is an extremely attractive use case as counterfeiting is the biggest issue facing the luxury brand industry, costing billions of dollars annually.
Jigen complements Metamall in many ways and the luxury NFT provider will be designing a brand that is specific to Metamallers. Metamall has already created a spaceship-themed retail Metaverse with a number of spaces available for NFT retailers. A total of 5,714 spaces are available for sale in 5 formats – Cube, Cabin, Club, Chalet, and Chateaus. A Chateau takes up four hundred spaces while a Cube only takes up one. These units are referred to as “space NFTs”.
This can be contrasted to the Jigen designer NFTs, which are traded “within” the larger space NFTs within the wider Metamall ecosystem. A comparison might be that of an existing brand (like Dior, Louis Vuitton, Hermes) moving into a physical mall. The main difference is that Jigen is a luxury NFT brand designer (as opposed to a simple retailer) and the complex is created within a Metaverse instead of a physical mall, accessible to anybody with a compatible headset.
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Metamall has multiple advantages as a frontrunner in the retail Metaverse industry, though it’s probably more accurate to say it’s creating the industry as opposed to taking it over. Metamall has already raised over $4.6 million through pre-IDO funding. It has also raised over $1.5 million in NFT sales and $400,000 through four decentralized project launches. The Web3 Metaverse retailer also has a number of strong industry partnerships and is built on the Solana blockchain, known for its ultra-low fees, high levels of scalability, and tiny carbon footprint.
Another advantage is the quality of its virtual reality design. Co-founder Serge Gianchandani is an expert in VR technology. He’s the founder of Egg Solution Optronics and has 12 patents on 3D and VR imagery. The other half of the founding team is Sahan Ray, an IIT/IIM alumni who has an impressive track record of turning startups into Unicorns. Speaking on the Metamall/Jigen partnership, Serge stated that:
“We are pleased to announce our partnership with a prominent NFT luxury provider so soon and are confident we can provide an unbeatable architecture for Jigen to advertise and retail their services. We’re also happy to onboard one of our first NFT designers to get direct feedback and improve on the VR retail experience – for customers, NFT retailers, developers, and space owners.”
The Metamall Metaverse is not expected to go live until Q2, 2022, with a centralized exchange listing upcoming. Other Metaverse retailers can use the services of Jigen to create their own luxury brand NFTs and set up shop (literally) in a space across the street, within the Metamall Metaverse. The Web3 retail environment is already being constructed and industry leaders are actively collaborating to build partnerships for the future.
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