Published on: 22/02/2024
The decentralized world is brimming with innovation, and the latest champion to make strides in this terrain is the luxury brand blockchain platform, Arianee. It has defied the status quo by launching a new layer-2 blockchain infrastructure, an appchain powered by Polygon’s Chain Development Kit (CDK). It’s hard to understate the sheer impact this has, not just for Arianee, but for other brands and companies who are looking to leverage digital identities and assets.
Arianee, a luxury brand blockchain infrastructure provider, has been working diligently on this optimized layer-2 since the dawn of 2023. The intent? To issue and manage digital product passports – a groundbreaking concept of labeling luxury items with digital identities. This revolutionary tech runs on Ethereum’s virtual machine (EVM) and aims to cater to the scalability that rapidly expanding marketplaces require.
The CEO of Arianee, Pierre-Nicolas Hurstel, revealed exciting insights about their latest foray. We exclusively build on EVM (Ethereum Virtual Machine), catering to enterprise and scalable use cases, he said as he explained the rigor involved in creating a service that delivers predictability, efficiency and operates universally.
The implications of layer-2 are crucial for market movement. High profile companies and luxury brands can now own and control their products much better, and in a more cost-effective way. Brands can enjoy an environment with precise control over costs and energy consumption, key benefits that serve the interests of an upscaling business.
Arianee’s layer-2 is geared to serve brands that require high-performance and scalable projects. It supports its native protocol token, used for payments within the Polygon CDK application-specific chain (appchain), bridged to the Aria20 ERC-20 token on the Ethereum mainnet.
Arianees clients include well-known entities, such as Breitling, Moncler, Yves Saint Laurent, and Lacoste. They are leveraging blockchain technology to ensure proof of ownership, providing a secure and transparent platform for buyers using blockchain-based proof.
These breakthroughs signify a shift towards a future where digital ownership and transactions are the norm. Brands can issue nonfungible tokens (NFTs), ranging from watches to luxury apparel, directly linked to real-life products.
This new level of transparency enhances user experience drastically and promotes trust between consumers and brands. It also paves the way for remarkable scalability, allowing brands to handle transactions at lower costs, thanks to the reduction in associated gas fees and smart contract execution costs.
In an age where technology is rapidly transforming how brands interact with consumers, digital product passports and the ability to own and control data could be the future of luxury retail. Brands can now manage product repairs, warranties, insurances, and other services efficiently and reliably, providing an elevated user experience.
Such developments in the crypto world, like those carried out by Arianee, are a clear indicator of the market’s movement towards embracing digital transformation. While investors should always exercise caution due to the inherent volatility of the cryptocurrency market, advancements as these could signal a promising trend for the future of blockchain technology. Only time will tell how widespread the adoption of such measures will be, but the early signs seem promising indeed.