Strategic sale of LUXO token starts today, March 15th, 2022, 5pm UTC, and it will last until March 30th, 2022.
Virgo and the LUXO token
This step will lead the project into international market, after having seen the participation of several private investors and international players.
LUXO token is used for the activities of VIRGO platform, developed by Luxochain, in partnership with PwC, Temera and Var Group.
Virgo will allow manufacturers to self-certify every single lot, using several best-in-class technologies, from RFID UHF and NFC up to blockchain certification, the latest promising innovation in the luxury goods’ certification market.
What is VIRGO
Virgo is an open and modular solution, able to integrate multiple technologies, from IoT to Blockchain, maintaining an agnostic and integration-oriented philosophy. The platform allows brands and customers to track the whole life cycle of the product, which can be integrated with existing ERPs; it aims at reaching maximum flexibility and at being easy to use for every player involved, focusing on the user-experience for brands, suppliers, and end consumers.
Virgo reshapes luxury and fashion’s storytelling, also turning the supply chain operators into real protagonists, opening new dialogue perspectives with consumers, allowing them to know the garments’ origin, as well as collecting information on the raw material used, the product’s ethical sustainability and its environmental and social impact. Production sustainability currently is a distinctive and driving force for the whole Fashion sector; this way Virgo becomes a key tool to enhance brand’s commitment and a benefit for the entire supply chain.
Virgo’s objectives for sustainability and ethics
Virgo’s goal is to protect brands’ reputation, creating digital fingerprints for each product, providing new value chain-related analytics and insights, improving both loyalty and rewards process between brands and end users. With our system, available for both iOS and Android, any buyer can use their smartphone to verify the authenticity of each product, in-store and online, or in the growing secondary market. At the time of purchase, the user will then receive an NFT, corresponding authenticity and ownership certificate, registered on the blockchain.
Current certification systems are complex and expensive, while the supplier monitoring system is inadequate to meet the ever-increasing need for transparency in the supply chain. Thanks to Virgo, we are able to increase consumers’ confidence in the brand, making all vale elements clear, while respecting the principles of transparency, ethical and environmental sustainability, animal welfare and raw materials and processes’ quality.
Transparency and sustainability are key values allowing brands to increase their reputation and trust. Every moment, every place, every manufacturing process becomes a value element. Tracing a product along the supply chain creates a history, a set of transactions that anyone can read as a proof of authenticity and guarantee. With Virgo, we want to ensure a clear and flexible process, where raw materials and production lots will be certified, enhancing sustainability, environmental responsibility, ethics, and social principles.
Discover the details of the private sale: visit the website luxo.io.
Source: https://en.cryptonomist.ch/2022/03/15/luxochain-launches-private-sale-luxo-token/