Web 3.0 Takes Fashion into the Future: Nitches to Accept Cryptocurrency and Interact with Ethereum / Polygon Wallets
Nitches Inc (NICH) announced its entry into the Web 3.0 revolution with the launch of its Owner Verification System (OVS™), a decentralized application (dApp) built on the Ethereum blockchain. The OVS dApp will allow customers to verify ownership of limited-edition clothing items and will integrate with various cryptocurrency wallets. Nitches plans to accept cryptocurrency payments, including Bitcoin and Ethereum, for its luxury apparel. CEO John Morgan emphasized the company's commitment to merging high-end fashion with cutting-edge technology to lead the industry.
- Launch of Owner Verification System (OVS™) indicating innovation.
- Integration with major cryptocurrency wallets demonstrates market adaptability.
- Acceptance of cryptocurrency payments could attract a tech-savvy customer base.
- Entering the competitive Web 3.0 market may pose significant challenges.
- Dependence on cryptocurrency markets could lead to volatility in sales.
LAS VEGAS, Feb. 10, 2022 /PRNewswire/ -- Nitches Inc., (NICH) (the "Company") a designer and manufacturer of high-end clothing and accessories, today announced it's entering the Web 3.0 revolution with its Owner Verification System (OVS™), which features a decentralized application (dApp). The OVS dApp is being built on the Ethereum, an open public decentralized platform, where no single person or group has control. The dApp will integrate with leading Ethereum/Polygon wallets, including MetaMask, Ledger Nano X, TronLink, Scatter, Coinbase and Trust. The company also plans to accept cryptocurrency payments on its web stores. Customers will be able to check out using Bitcoin, Ethereum, Bitcoin Cash, DAI, Dogecoin or USD Coin for limited-edition clothing items from celebrity capsule collections.
"Nitches is fully embracing Web 3.0 and metaverse technologies, whether it's creating NFTs of our luxury clothing, accepting crypto payments or developing our dApp with smart contracts on the Ethereum/Polygon blockchain," said John Morgan, Nitches' CEO. "We want to lead the fashion industry by merging cutting-edge technology with the highest-quality clothing items in the market, created with today's top celebrities and influencers."
Web 3.0, the third version of the Internet, will be decentralized, giving people more control over their data. Nitches' OVS dApp interacts with Web 3.0 technologies, such as non-fungible tokens (NFTs). NFTs of hoodies, baseball caps and other items are currently being created. They will be transferred to owners after they are registered using the OVS dApp. Registration will prove ownership and verify the legitimacy of the items. The dApp consists of four other Web 3.0-related components.
- Front end - the dApp takes input from users and builds requests that are deployed on the network as smart contracts.
- QR codes – users scan the QR code that is sewn into each piece of clothing to start the verification process.
- Polygon/Ethereum wallets – where users sign transactions and send them to the network.
- Smart contracts – our developers wrote the logic of the dAPP into smart contracts, which are programs that run on the Ethereum blockchain. Smart contracts are created when money is exchanged, services delivered or digitally protected content unlocked.
Web 3.0 is being built on blockchain technology that is maintained without a central authority. Blockchain data is distributed, making it more safe and secure.
About Nitches Corporation
Nitches is a high-end clothing and accessories company that specializes in creating limited-edition athleisure and streetwear apparel that are sustainable, authentic and exclusive. We collaborate with fashion-forward influencers and celebrities to create capsule collections that reflect their vision and brand. We developed innovative technology to protect our intellectual property and prevent counterfeiting. We strive for creativity, excellence and value in all that we do for our collaborators, customers and stakeholders. For more information, visit nitchescorp.com.
Forward Looking Statements:This press release contains forward-looking statements. The words "believe," "may," "estimate," "continue," "anticipate," "intend," "should," "plan," "could," "target," "potential," "is likely," "will," "expect" and similar expressions, as they relate to us, are intended to identify forward-looking statements. The Company has based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy and financial needs. Some or all of the results anticipated by these forward-looking statements may not be achieved. Factors or events that could cause our actual results to differ may emerge, and it is not possible for us to predict all of them. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.
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SOURCE Nitches
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