Eric Pulier, Vatom INC’s Inventor- 5 Reasons Why NFT’s Will Change The World Of Luxury

Today, NFTs (Non-Fungible Tokens) have become the buzzword beyond the world of cryptocurrency and blockchain, but how will this digital asset impact luxury goods? NFTs, are by definition, digital objects with assigned values that are accounted for on the blockchain. Each digital signature makes it impossible to be exchanged for or equal to another. When visual artist Mike Winkelmann (aka Beeple) sold his exclusively minted piece for Christie’s Auctions house for $69M, the luxury world certainly did take notice.

This month, the Cannes Lions International Festival, a five-day event which has been the undisputed global benchmark for advertisers and the creative community since 1954, which would normally take place at the Palais de Festivals in Cannes, will be taking place virtually. The Vatom SpatialWeb platform hosting the event is the invention of its founder, Eric Pulier, who believes that this is “the turning point in the evolution on the World Wide Web which will enable optimum human engagement” and where the NFT Vatom, a virtual atom he created, will seamlessly interact with customers.

Over ten thousand attendees are expected to sign in, create their own avatars, and float about in this virtual world. They will watch speakers and performances in simulcast at different performance stages and chat with colleagues at various lounges. Passé are the days of being confined to pixelated squares on a screen. Outdated are awkward moments of talking over each other during online meetings. Attendees will speak and applaud “together” simultaneously. Pulier has designed the future of human engagement that awaits the luxury world where consumer experiences and NFT’s will thrive together in a space where the boundary between the physical and the digital dissolves.

Here are the 5 reasons why the luxury world benefits from NFTs:

1. Provenance

Track every step, from design to factories, to assembly, to distribution, to consumer. Putting the supply chain on a smart, programmable NFT will ensure authenticity and allow traceability through every stage of the production process. It also allows the individuals and companies and locations that touch the goods to put their mark on it, further enhancing it's story and value.

2. Experience

Transforms the consumer experience of buying and owning a good via offering NFT gifts upon purchase. These NFTs are network-aware and provide constant value, building direct relationships. The most powerful untapped value of NFTs will be their ability to form communication conduits between creator and audience. With luxury goods, the owner of a product would also own the digital twin NFT and have a direct relationship over time with the brand and designer behind the product. This relationship drives long term loyalty and deeply enhances the emotional impact of ownership.

3. Inspiration

NFT's are a new canvas for human imagination. By creating an NFT twin of a physical object of value, there can be a meta-design applied to the product where the NFT takes on additional artistic elements. These can be 3D graphics, animation, sound and interactivity. By applying a further layer of creativity and personal vision to the product, the scarcity and value rise immeasurably.

4. History

Provenance doesn't need to stop at the doorstep of the retail sale. With NFT's the history and story of the item continue indefinitely as each owner, starting with the first and continuing onto secondary markets, can declare their status and imbue the object with storyline--photographs, audio and memories of all types. Who owned the item previously, whether it is something that gets handed down through generations or just among buyers, is key to the value. Gordon Bowen, the genius Chief Creative Officer of Dentsu said: story+object = treasure. Nowhere is this more true than with a living, ever-changing testament to an object's own experience embedded in a non-fungible asset that will be recorded for all time on the blockchain.

5. Fun and DTA

The most widely deployed NFT in the world is called a Vatom, short for "virtual atom." Vatoms are programmable and change, and come alive with 3D graphics, animation and sound. Most importantly, they are network-aware, meaning they can communicate back to the creator and change based on real-world events. "DTA" stands for "direct to avatar" -- an emerging business that promises to grow to hundreds of billions of dollars in the coming decade. DTA means that some luxury good purchases will be NFTS ONLY, and have no physical equivalent. In this case, the purchase results in rare goods that can be used to clothe avatars in the emerging NFT Metaverse. The Vatom Spatial Web is the leading NFT Metaverse for brands today, allowing the creation and distribution of NFT's within social environments that span AR & VR. Before long you'll be eying that Hermès Birkin handbag and scoop it up to be the best looking avatar at the virtual ball