The LVMH Approved Web3 Tech That Really Works For Retail

If 2022 was the year of Web3 test and learn for retail, 2023 is about building on those learnings and using them to add real value to business.

Indeed, according to Carol Hilsum, Senior Director of Product Innovation, Farfetch, “the level of maturity and progress of the ecosystem has taken a significant step forward.”

Dream Assembly Base Camp, the Web3 fashion accelerator program created by Farfetch and global Web3 accelerator-meets-investor Outlier Ventures, which launched in 2022, has just announced its second cohort of start-up talent.

The seven startups: Decommerce, Me Protocol, Nettle, Solaire, SPIN by Lablaco, Wovn and Numbers Protocol are geared variously to customer engagement, loyalty rewards and community, payment and commerce infrastructure and data infrastructure such as tracking and authentication.

The remote 12-week program will cover topics including luxury data infrastructure, community tools, digital fashion experience, self-representation and sustainability and start-ups will enjoy support from a network of mentors from the fashion, technology and Web3 industries, as well as investors.

“The companies joining us are creating innovative tools and experiences that will greatly support the Web3 opportunities for the luxury sector,” said Hilsum in a statement. The focus, added Blake Lezenski, Partner Program Director, Outlier Ventures, is “developing their cutting-edge technology to meet the needs of luxury commerce.”

Case in point is METAV.RS, a graduate of Dream Assembly’s inaugural program. The Web3 platform has just been selected as one of 18 finalists for the 2023 LVMH Innovation Award.

Applicants had to prove they can play an active role in the LVMH ecosystem, delivering their product or service at scale.

According to Simon Foucher, METAV.RS CEO, the nomination is a real validation for the platform. “This recognition validates our dedication to offering Web3 cutting-edge solutions for the luxury and retail industries.”

As reported, METAV.RS, the self-dubbed ‘Shopify of the metaverse’ is focused on transforming customer engagement for premium brands, catering in particular to the growing needs of Generation Z by bridging gaming, social, and e-commerce. It is already working with clients such as LVMH, Westfield, Le Bristol Paris and Stellantis automotive manufacturing company.

The platform allows brands to deploy NFT collectibles, assigning value by associating these with utilities, monitor activity and benefit from a dedicated white-label website.

METAV.RS applications include new loyalty programs unlocking rewards, community building, gamification of customer journeys, digital twins, and immersive presentations via virtual showrooms or augmented reality experiences.

Other Web3 related nominees for the LVMH Innovation Award include Absolute Labs, creator of the first Wallet Relationship Management™ platform and Fosfor, that of a full body 3D holographic screen to enhance in-store experiences while the artificial intelligence-powered Chatlabs is focused on hyper-personalized social commerce experiences.

The startups, chosen from over 1300 applications, will present their solutions at the LVMH booth at Vivatech 2023 in June with winners announced June 15.

All the finalists will join La Maison des Startups LVMH, the Group’s business acceleration program, where they will receive support, mentoring, and access to the LVMH network of luxury industry experts.

Outlier Ventures x Farfetch Dream Assembly Base Camp’s inaugural cohort also featured a plethora of tech talent including Web3 commerce enabler Mintouge, which connects luxury brands to their customers via purchased product, avatar platform Reblium, and altr, which unlocks the value of archive fashion.