In General XR News
March 15, 2023 – Madeium.com, a design platform for both physical and digital products, and Intertrust, a provider of Web3 technology to protect and manage creative work, have this week announced a partnership that will help to modernize the footwear and fashion industries with a Web3-powered platform that connects real, physical products with virtual assets.
According to Madeium, the USD $130 billion sneaker industry is at present eclipsed by a USD $450 billion counterfeit fashion market. Until now, the ability to authenticate products and verify ownership in the physical world has been nearly impossible—a problem that will dramatically increase with digital goods in the Metaverse.
Madeium stated that the new platform from the two companies will help to turn the tables on fraud by connecting Madeium’s 3D printed sneakers with blockchain ownership. The marketplace, backed by Intertrust’s secure, anti-counterfeiting technology, will allow creators to retain on-chain royalties in emerging fashion resale markets.
“Creators and communities can now seamlessly connect around great design solutions while bringing ideas directly to end users,” said Jesse Rademacher. “With Intertrust, Madeium’s creator economy gains decades of proven results at tracking intellectual property and providing secure, trusted transactions. This empowers creators and athletes to build personal brands, directly monetize their creations, and access on-going revenue streams without depending on intermediaries. Intertrust’s NFC-based digital twin technology allows for the protection and monetization of both digital and physical designs.”
Madeium stated that through collaborations with top athletes, fashion designers, artists, and creators, the company is working to lower barriers to entry for independent businesses. By combining Web3 and conventional commerce models, Madeium’s marketplace enables creators to publish designs on-chain, receive direct payments, and access resources to build personal brands. The company added that with these new tools come new opportunities, such as just-in-time 3D printed shoes that unlock small batch footwear production that can be authenticated with a smart phone swipe.
“The power of Web3 and the Metaverse is that it allows for full P2P commerce where makers and consumers can connect directly,” said Talal Shamoon, CEO of Intertrust. “Madeium is a revolutionary leap forward, giving designers a place in the Metaverse by elegantly and securely connecting the virtual and physical worlds with actual sneakers on the ground.”
According to Madeium, its Web3 tools provide designers and creators access to new digital markets for their products, including gaming, virtual reality (VR), augmented reality (AR), the Metaverse, and digital auctions. To find out more about the company, click here.
Image / video credit: Madeium / Intertrust
About the author
Sam is the Founder and Managing Editor of Auganix. With a background in research and report writing, he has been covering XR industry news for the past five years.