Beyond The Limits 13.05.2024

?? Welcome to our newsletter for the week. We have gathered some of the most interesting news and updates from the world of circularity, technology, fashion, and luxury.

?? NFT

SYKY , a pioneering web3 luxury fashion platform, has unveiled its latest venture, "Glamour as Armor," a digital fashion collaboration with the talented Korean-American R&B artist, Audrey Nuna. This initiative signifies Audrey's debut in the digital fashion domain, coinciding with the launch of her latest single, "Jokes On Me." The collection, crafted by SYKY Collective member and digital virtuoso, Fanrui Sun of Sunw, showcases two exclusive pieces inspired by the thematic essence of Audrey's music, available exclusively through SYKY . Renowned for her innovative digital designs, Sun has collaborated with esteemed global brands such as 阿迪达斯 and Mercedes Benz. Her contributions to the "Glamour as Armor" collection, including pieces named Symphony and Galactic, seamlessly blend futuristic aesthetics with medieval influences, evoking a sense of romanticism and empowerment. Alice Delahunt , the visionary founder and CEO of SYKY , expressed her admiration for Audrey Nuna's artistry, affirming the collaboration's significance in pushing the boundaries of digital fashion, art, and music. Audrey Nuna herself expressed enthusiasm for her inaugural foray into digital fashion, commending SYKY 's innovative approach and the opportunity to collaborate with Sunw. The collection, priced at 0.016 ETH per piece, will be available on SYKY.com , where buyers can utilize augmented reality tools for virtual fittings. Purchasers and SYKY Keystone Holders will enjoy exclusive perks, including access to downloadable 3D files, virtual hangouts with Sunw and Audrey Nuna, and an exclusive social event in New York City on May 14, culminating in a unique digital memento commemorating the collaboration.

? Technology

Snap Inc. unveiled new augmented reality (AR) and machine learning (ML) tools, aiming to enhance brand engagement on its platform. These tools facilitate the creation of interactive experiences for users, streamlining the process for brands to develop AR try-on assets and custom Lenses. Through investments in ML and automation, Snapchat has reduced the time required for brands to create AR try-on assets, enabling them to transform more 2D product catalogs into try-on experiences swiftly. Moreover, brands can now leverage generative AI technology to craft personalized AR ads, enhancing user interaction. The introduction of AR Extensions allows advertisers to seamlessly integrate AR Lenses and filters across Snapchat’s ad formats, including Dynamic Product Ads and Snap Ads. Snapchat's commitment to enhancing its advertising platform has yielded significant revenue growth, with Q1 2024 revenue up by 21% to $1.195 million, driven by increased demand from small and medium-sized advertisers. These initiatives underscore Snapchat's dedication to enriching user experiences and strengthening its advertising ecosystem.

?? Fashion

The Absolut Group , the premium spirits brand, has joined forces with Copy Lab , a full-service studio, to confront the pervasive issue of biased representation in artificial intelligence (AI), particularly within the realm of fashion. The collaboration aims to overhaul outdated stereotypes that distort the portrayal of fashion and beauty standards in AI-generated content. Research indicates that a staggering 90 percent of AI-generated material is susceptible to under-representation, particularly within the fashion sector. This stems from AI systems being trained on biased data, perpetuating and amplifying existing inequalities. To address this, Absolut and Copy Lab embarked on a groundbreaking initiative, processing 10,000 image prompts showcasing diverse expressions of fashion, culture, and identity. This data was used to train an AI algorithm across various models, resulting in a series of bold and inclusive fashion images. The outcome is a collection of visually striking images featuring a diverse spectrum of gender fluidity, ethnicity, age, and body types. These images will be prominently featured in the upcoming second edition of Copy Magazine, the world's first printed AI fashion magazine. Additionally, they will be made available for free use on the stock image platform Unsplash. Debasree Dasgupta , Global Vice President of Marketing at Absolut, emphasized the brand's longstanding commitment to inclusivity and diversity. Rooted in the ethos of mixing ideas and perspectives, Absolut sees a profound responsibility to confront bias in AI head-on. By challenging these biases, the partnership seeks to foster a more equitable and inclusive technological landscape, positively impacting individuals and communities globally. Absolut hopes that this collaboration will inspire further action from both individuals and brands, recognizing that addressing bias in AI is a collective endeavor with far-reaching implications.

?? Sustainable Fashion

Luxury brands are on the clock to comply with the European Commission's new Ecodesign for Sustainable Product Regulation (ESPR), set to take effect this year. This regulation mandates transparency and traceability for luxury goods sold or produced in Europe. To meet these requirements, luxury brands are turning to Digital Product Passports (DPPs), which establish a digital identity for physical products. According to a report by the Aura Blockchain Consortium and 德勤 , titled "Embracing Digital Product Passport as a regulatory requirement: Setting a new standard for luxury," DPPs serve as a digital link between the product, the owner, and the brand, preserving information about the entire product lifecycle. The report highlights DPPs' ability to satisfy consumer needs, facilitate regulatory compliance, and create value for brands and consumers. In addition to transparency and traceability, DPPs offer protection against counterfeit products. Franck LE MOAL , Chief Information Officer at 酩悦·轩尼诗-路易·威登集团 Group, emphasizes the importance of DPPs in combating counterfeit issues and building trust with consumers. Furthermore, DPPs enable "product storytelling," a crucial aspect of luxury marketing. By providing sustainability and traceability information, DPPs influence purchasing decisions and enhance brand loyalty. Lorenzo Bertelli, Head of Marketing and CSR at Prada Group , underscores the role of DPPs in engaging customers and increasing conversion rates in boutique settings. Overall, DPPs offer various benefits for luxury brands, including enhancing product storytelling, ensuring authenticity, and generating valuable consumer data throughout the product lifecycle.

?? E - commerce

Many consumers remain unaware of the extensive tracking and monitoring of their online activities, often conducted without explicit consent. E-commerce platforms eagerly track user behavior to enhance sales, a practice subject to varying degrees of legality. Amid increasing scrutiny and regulatory measures surrounding consumer data privacy and online tracking, brands must navigate the delicate balance of targeting consumers respectfully while leveraging insights to refine marketing strategies. An illustrative case is the legal action against SKIMS , facing allegations of "spying" on users for the second time this year. In a recent California lawsuit, two users contend that Skims enables Meta Platforms to intercept electronic communications of website visitors, facilitating the collection of data for advertising and analytics. According to The Fashion Law, plaintiffs assert that a Meta Tracking Pixel, a code snippet provided by Meta Platforms, operates on the Skims website, tracking user interactions for advertising and analytical purposes. When activated, the Pixel transmits user activity data to Meta, facilitating tracking of actions such as page views and clicks. The use of Meta Tracking Pixels raises privacy apprehensions among consumers, as collected data can be used to construct detailed user profiles and facilitate targeted advertising based on browsing history and demographics. This practice often manifests in users encountering ads for products similar to those previously browsed.

?? Stay tuned for more updates and, as always, feel free to share your thoughts with us!

#FashionTech #Luxury #VirtualReality #DigitalFashion #Fashion #Circularity #SustainableFashion? #ArtificialIntelligence #DigitalInnovation #OpenInnovation #FashionCollaboration #Tech #FashionInnovation #LimitlessInnovation