Luxury Goods & Art: Certification of Authenticity, Circular Economy and Blockchain Technology
Luxury brands continuously need to adapt to new paradigms of value creation, and current trends include a focus on sustainability, digital transformation and personalization. According to a survey by McKinsey, 66% of millennials and Gen Z consumers are willing to pay more for sustainable products. A report by Deloitte states that digital sales is expected to jump from 12% to 30% by 2025, and 48% of consumers are also interested in personalized services. Many luxury brands are therefore investing in technology platforms, blockchain, virtual and augmented reality to enhance the customer experience. Luxury brands need to incorporate innovative solutions into their long-term strategy and 3D AG has optimal solutions combining digitalization, blockchain and consumer experience.
The global art market is a marketplace of buyers and sellers of works of art and is valued at 50bn USD in 2022. It is split into the primary market, concerning artworks sold for the first time and re-sales in the secondary market. Closely connected to the culture sector, it does not only consist of known artists and collectors, but thrives from an entire scene of emerging artists and unique small players. Current trends move the art scene into the digital sphere, total sales of the online art and antiques market doubled in 2020 in comparison to 2019. From digital auction houses and art dealers, to NFT’s – the digital revolution has also hit the art industry.
Digital Certification of Authenticity and Solutions for Circular Economy
Counterfeiting is a major problem for the watch industry and other luxury goods, with tens of millions of fake watches sold every year. The rise of the Internet and the growth of the circular economy have contributed to this problem by making it easier for counterfeiters to sell their products and for luxury goods to be resold multiple times. One key issue for luxury goods like watches is the certification of authenticity. While security features like holograms can be used on some products, they are not always practical for watches and jewelry due to limited space and surface area. However, 3D AG has developed a solution using a hologram with a QR code that allows buyers to access a digital twin of the physical product, ensuring authenticity.
By enabling the transfer of ownership along with the digital twin, this solution allows luxury goods to be resold with guaranteed authenticity, helping to reduce the market for counterfeit products. This helps to protect the luxury goods and ensure that consumers are getting the quality products they expect when they purchase luxury goods.
WHY 3D AG?
3D AG is one of the first companies worldwide to launch a blockchain based solution for product authenticity, circular economies, NFT’s and more. Our holograms and digital solutions are applied to enhance luxury goods worldwide and protect artists and art through serialization and anti-counterfeiting solutions.
Luxury Brands and Art Dealers Turning to Blockchain Technology for Proof of Authenticity
As consumers become increasingly concerned about product authenticity and sustainability, companies are searching for new ways to instill confidence. Blockchain technology presents an opportunity for businesses to demonstrate to customers that their goods and supply chains are legitimate. In addition to providing customers with proof of authenticity, blockchain technology enables brands and artists to maintain complete control over the value chain, leaving no room for doubt, as data is securely and immutably recorded on the blockchain. This reduces the possibility of counterfeit goods, resulting in an improved marketplace for luxury goods and art.
At 3D AG, we are proud to be one of the first security companies to develop a blockchain-based solution that addresses growing concerns around product authenticity and sustainability and has been implemented by luxury brands worldwide. Our innovative technology allows us to record data points at various stages in the supply chain, providing complete visibility and traceability for both the brand and the customer.
Holograms for Art: Unique Serialization for Photography Prints or Limited Editions
Controlling the circulation of art prints can be a challenging issue for many photography artists who sell their artwork. To combat this problem, holograms are a popular solution. These thin, flexible and tamper evident stickers can be affixed to the back of any print and include a unique serial number, enabling control over how many prints are in circulation. By providing a certificate of authenticity that is directly attached to the print, holograms are a valuable tool for maintaining the integrity of an artist’s work. Including holograms in every print series also demonstrates professionalism and quality to buyers. At 3D AG, we offer a specialized product line capable of producing very low volume series of holograms, complete with unique serial numbers. This is a rare offering from security companies, but we have developed this solution to help increase trust and support artists in standing out in the competitive art industry.
GarmenTrust™: Anti-Counterfeiting Solutions for Clothes, Garments and Textiles
The luxury industry has been battling counterfeit products for years, investing heavily in cutting-edge technology to enable customers to verify the authenticity of their purchases. In 2020, clothing and footwear accounted for 38% of all seizures related to counterfeiting. However, a significant challenge with clothing, garments, textiles, and shoes is that traditional anti-counterfeiting solutions cannot be attached to these products throughout their entire lifecycle. In the retail, fashion and textile industries, originality is everything and brand owners must rely on innovative brand protection security solutions to ensure consumers receive authentic products.
3D AG’s GarmenTrust™ solution consists of encapsulated holograms specially produced for clothes and garments. They can be sown directly into the clothes or garments, and are washable up to 60°C.
