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What’s Next for Luxury Brands and Blockchain

The Prada and LVMH-backed Aura Blockchain Consortium is rolling out a shared solution for brands to distribute NFTs. But leveraging blockchain for issues like fighting counterfeits and tracing materials is still in its early stages.
Prada and LVMH-backed Aura is launching a service to help luxury brands to issue NFTs to clients.
Lorenzo Bertelli, Franck Le Moal, Angela Au-Yeung and Stefano Rosso in conversation about how Prada, LVMH, Cartier and OTB are deploying Aura technology. (Aura Blockchain Consortium)

Last year, in a rare example of luxury rivals joining forces, LVMH, Cartier and Prada

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Further Reading

How Luxury Fashion Learned to Love the Blockchain

Amid growing concern about the proliferation of counterfeit luxury goods, LVMH is reportedly developing a system to authenticate merchandise using blockchain technology, while rival Kering is advising a non-profit with the same goal.

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