- NFT gateway Jigen is establishing its position as a crypto pioneer in the fashion industry.
- Each NFT minted on Jigen is backed by real-world luxury assets.
- Jigen will launch its first set of NFTs named “The Genesis Collection”.
Blockchain technology has shown its transformative nature with the popularity of cryptocurrencies in the past decade. The use cases of blockchain technology have gone beyond finance, and solutions have been developed to cater to the needs of other industries.
The fashion industry has not been left behind, with top brands like Gucci and Louis Vuitton deploying blockchain-based solutions to verify the authenticity of their products. Furthermore, the advent of NFTs has further expanded the use of digital assets to tokenize fashion and provide value to consumers.
Jigen, an innovative NFT gateway for fashion and luxury brands, has created a unique ecosystem that has driven the adoption of crypto in the fashion industry.
A Blockchain Ecosystem Dedicated to The Fashion Industry
Jigen provides a platform for brands to maintain the authenticity of their products and solve counterfeiting problems that are common in the fashion industry. Furthermore, it has created an NFT ecosystem that will enable multi-chain interactions and introduce DeFi features for holders to expand their earning opportunities.
Jigen further separates itself from the competition by providing full value for its NFTs. NFTs minted on its platform are backed by real-world luxury assets that can be redeemed for the physical product at any time.
Thus, the valuation of the NFT is not speculative but represents the actual value of the assets. In addition, NFT enthusiasts can bring their wearables into the metaverse by tokenizing them as NFTs that their Avatars can wear.
Powered by an Innovative Utility Token
Its native utility token, JIG, powers the Jigen ecosystem. JIG token provides holders with access to different products and features on Jigen. Some of these include exclusive access to rare NFTs and privileges within its ecosystem.
In addition, holders will be able to stake JIG on supported yield farming pools for rewards and yields. JIG also serves as the governance token, and holders can determine the project’s future by voting for new designers, brands, and more via the governance system.
The Jigen team has developed impressive tokenomics, and the token allocation is designed to ensure sustainability and adoption of JIG. JIG token holders will be rewarded in several ways, including airdrops and whitelist spots.
In addition, 60% of all fees collected on the secondary market will be used to buy back and burn JIG token. This will ensure limited supply, leading to strong upward pressure on its price and ensuring value to holders.
More Developments on The Horizon
Jigen has experienced massive development in recent months with a community of over 70,000 followers across different social media platforms. In addition, it has conducted several community incentive programs and giveaways to reward active members.
The NFT ecosystem is also backed by leading investors in the blockchain industry such as Magnus Capital, X21 Digital, Oddiyana Ventures, etc. To further expand its ecosystem, Jigen will be launching a staking feature where JIG holders can stake their assets for rewards.
In addition, it is set to release its first collection of NFTs called “The Genesis Collection”. This development is highly anticipated, and the NFTs are likely to be sold out, representing a major milestone for the NFT platform.
Jigen has shown the technical and innovative ideas that are sure to lead to massive adoption of its token and NFTs in the blockchain and fashion industry.
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