Another-1 Physical Meets Digital NFTs

The word ‘Phygital’ is starting to make waves. More and more projects pop up in this field. One of the OGs for all things phygital is Another-1. They have been around for a while now. They also keep building in this bear market. These are precisely the projects that will do well during the next bull run.

Lukso and InSilva on Aptos are also active in this market. So, let’s see what is new under the hood of Another-1.

What Is Another-1?

At Another-1 is where physical meets digital. It is a luxury fashion platform. Here you can build, collect, stake, or trade NFTs. NFTs with NFC that is. An NFC means ‘Near Field Communication’. These are chips that you can detect with your mobile phone. 

And you know what is great? In contrast to many other phygital NFTs, you don’t need to burn the AN1 NFTs. In contrast, the NFCs use both a digital and a physical product. So, you need your NFT! The NFCs make sure that you can’t cheat and get two or more physical products. This is great since it’s a shame if you need to burn your NFT to get a physical product. That’s the reason other projects need their NFTs burned. Burning the NFT avoids double issuance of a product.

An NFC contains all data from previous transactions. For example, Pravda uses them as well. You can walk into any Pravda shop anywhere in the world. Now, all new Pravda products will have a QR code that shows the entire journey of said product.

Nayom1 and Decentraland

About a month ago, Another-1 launched the Nayom1 project. If you got the limited edition ‘NAYOM1 Blade’ NFT, you also received a physical shoe. Casadei, an Italian luxury shoe designer, made the physical shoe. Here’s a link to our article on Nayom1. This shoe also comes with an NFC chip. See the picture below. 

Another-1

Source: Twitter

So, Another-1 is a platform where brands and designers can create collections. Or, the other way around, Another-1 can create collections for brands. For instance, they already created a collection for Decentraland. For example, they held the Project NAYOM1 pop-up event there. There will also be 5000 pairs of phygital sneakers that you can wear in Decentraland. At a later date, you can redeem the physical item. 

So, they want to be a Web3 company that creates phygital fashion products. Hence, they are setting up an ecosystem of brands to have cross-marketing of the products.

The Another-1 token

For users, there will be a reward in the form of a token. The token name is most likely the AN1 token, but we will confirm this later. Under the current market conditions, they will wait to launch their token.

Use cases for the token include among others, 

  • Whitelisting and minting of new collections.
  • Raffles for which you need to hold the token.
  • Collections made by users.

However, the idea is that the end user can monetize a phygital product. This gives brands more touchpoints with customers. As a result, it creates a great after-sales experience.

So, we see that Another-1 has made some serious progress since April. That’s the first time we talked about them. Take a look at our April article. 

  • Their CMO, Sven Stanko, doubled their Twitter community. They’re also working on the release of their marketplace. 
  • A phygital collection of jackets is in the cards.
  • At the end of Q4, 2022, fractional ownership of high-value items is coming up.

They keep building, so hats off to Another-1.

Conclusion

Another-1 is an OG player in the world of phygital products. Phygital is something to keep an eye out for. The metaverse will play a big role in this. If you like to find out more about Another-1, you can follow them on Twitter or join their Discord. You can also visit their website, join Instagram, or go to their Medium.

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Disclaimer
The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. This article has been sponsored by Another 1. Copyright Altcoin Buzz Pte Ltd.

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