Friday, October 14, 2022

New York, Paris Fashion Weeks topliner and local fashion social enterprise Kandama forays into blockchain and NFT space

 14 October 2022, ManilaAs a social enterprise that brought the creations of master Filipino weavers to the world’s premiere fashion stages, Kandama now fashions a future in the blockchain and NFT space with its partnership with blockchain firm Tetrix.

The renowned fashion collective, which has been showcased at the Likhang Pamana in Hong Kong, Virgin Australia Melbourne Fashion Festival, Paris Indigenous Fashion Week, and New York Fashion Week, will harness blockchain technology to guarantee the authenticity of their innovative designs that incorporate hand-loomed fabrics made by the master weavers of Julongan village in Kiangan, Ifugao.

“As a cultural and social enterprise that produces artisanal fashion products, it is important for us to be authentic, to tell the stories of how our garments are made, and to demonstrate our sustainable and ethical credentials,” Kandama founder and CEO Victor Mari C. Baguilat, Jr. said.

Through the partnership, Tetrix will produce non-fungible tokens (NFTs) to offer Kandama customers proof of ownership over hand-woven bags, clothes, and modern accessories, such as the pieces once donned by beauty queen Pia Wurtzbach.

Recorded forever on the blockchain, the NFT verifies the authenticity of their purchased garments and provides other key details, including the background of the weavers, the fabric used, and ownership history.

Additionally, the crypto wallet Pitaka, which is powered by Tetrix, will be used for the settlement of transactions and will be the official carrier of the Kandama NFTs. Ownership of the digital Kandama garment will be transferred through the blockchain, making the design impossible to counterfeit. 

“Enterprises like ours should leverage blockchain technology because it creates a unique digital identity for every product we make since its lifetime journey can be traced on the immutable blockchain from raw material to design and sale and then resale and recycling,” Baguilat added.

Mainstream luxury brands like Gucci, Louis Vuitton, and Prada have recently dived deep into Web3 and blockchain to offer new opportunities to connect with customers, foster community, and generate revenue.

“I choose Tetrix to be our blockchain partner because their leadership has a powerful vision of helping us bring our advocacy of promoting indigenous arts and culture to greater heights. Tetrix empathizes with our needs as a cultural and social enterprise, and they have demonstrated their capacity and desire to co-create with us a brighter future for our indigenous communities,” Baguilat said, commenting on their partnership with Tetrix.

“We are seeing that fashion could also benefit from Web3. Same with artworks, we can also bring Kandama’s beautiful fashion pieces into Metaverse,” Tetrix CEO and founder Emman Navalan shared.

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