The f(x) = e^x | NFTs and Luxury Brands
Good Day! This is my weekly newsletter, with a dose of insights into the future. The topic of this newsletter is the exponential times we live in, hence the title of f(x) = e^x, which is the (natural) exponential function.
NFTs and Luxury Brands: How Blockchain Technology is Transforming the Luxury Industry
My latest article:
As the luxury industry continues to adapt to the ever-changing retail landscape, it’s clear that blockchain technology is set to play a central role in its future.
To understand why, consider that blockchain technology has the potential to disrupt every aspect of luxury retail, from supply chain transparency to brand authenticity and customer loyalty.
With this in mind, there are three ways luxury brand NFTs can transform the industry: allowing brands to track product provenance, protecting against counterfeits, and offering greater customer transparency. In each of these ways, NFTs play a crucial role. From disrupting every aspect of luxury retail to brand authenticity & customer loyalty, NFTs offer great opportunities for the luxury industry.
Three Useful Nuggets of Information
My weekly tips from around the web to get you thinking.
1. Art created by AI wins first prize in art competition 🎨
Video-game designer Jason Allen spent roughly 80 hours working on his entry to the Colorado State Fair’s digital arts competition. He won first place—and a $300 prize. However, his win created a controversy he was not expecting. (Smithsonian Magazine)
2. An AI can detect many things - including Parkinson's.
Researchers at MIT have created an artificial intelligence model that can detect early signs of Parkinson’s disease from regular breathing patterns. The tool, a neural network that can assess whether someone has Parkinson's disease by analysing their nocturnal breathing patterns, is capable of identifying those with the illness. (MIT News)
3. The Merge is here; what does it mean for blockchain?
One of the world's most prominent blockchains, Ethereum, is switching from a Proof of Work system to a Proof of Stake approach, which will reduce energy consumption by 99% and increase the number of transactions to 100.000s per second. It has been years in the making but is not without risks. (MIT)
How will Taxes Change in the Metaverse?
A nightmare for companies who want to enter the metaverse but a significant opportunity for tax advisory firms around the globe; paying your taxes could become a lot more complicated when you enter the metaverse. (Bloomberg)