Lucidao to launch the first luxury collectibles DAO — powered marketplace
After the successful Final Lucidao Proposal (FLP) vote, Lucidao team is working hard on the development and deployment of the beta version of the blockchain-based marketplace for luxury collectibles.
Lucidao aims at entering this market segment at first as it is forecasted to keep growing by 6–8% annually after an impressive surge in 2021 (+29%); and with a forecast of 12.8% CAGR up to 2030 for the global cryptocurrency market size, the opportunity to link both worlds is obvious and LUCIDAO vows to develop, create and enhance that link.
The solution is brought by a fully decentralized marketplace protocol; the dApp would work as a technology enabler by providing the connection between the platform users (crypto holders) and oracles (providers of luxury collectibles) through certifying the transactions. This will pave the way and will allow traditional business owners to access Web 3.0.
Lucidao will rely on DAO-approved oracles to provide the luxury collectibles on the platform with a first focus on luxury watches. The first proposed Oracle is The Watch Boutique; a company specialized in the trading of watches, based in New York, Luxembourg, Switzerland and Italy. Afterwards other product categories will be embedded on the platform, based on DAO scrutiny, such as rare wines and luxury cars.
The Marketplace will allow the purchase of physical luxury collectibles with stable coins on Fantom Opera. LCD utility tokens won’t be used as a means of payment but as a platform/service fee (like a gas fee) in exchange for accessing the technology given by the decentralized marketplace protocol.
When purchasing a luxury watch, a user will decide whether to have it physically shipped to his/her address or be the owner of the NFT related to the watch, giving them both digital and physical ownership of the collectible. In the latter case, the watch will be stored in the Oracle’s caveau (against storage and insurance fees) and can be redeemed at any time.
NFTs will be leveraged to represent the digital twin of the watches, unleashing the trade of tangible products, intangibly.
A beta version is expected to be released during the second part of March and constant updates will be shared with the Lucidao community. Currently Lucidao is engaged for the development of the marketplace with the leading design agency Love & Money which is optimizing the design and UX of the Lucidao marketplace.
Join the Lucidao community:
- Discord: https://discord.gg/lucidao
- Telegram: https://t.me/lucidao
- Twitter: https://twitter.com/Lucidao_
