The first blockchain-based marketplace for limited edition and luxury pre-owned fashion.
Ongoing
Private deals
Fall/Winter 2018-19
Start of the public presale & crowdsale
Once the private sale is concluded, projectdresscode will announce a Security Token Offering open to the wider public.
Authentic. Certified.
Pure provenance.
Projectdresscode is pioneering the way forward, bridging two dynamic business spheres – fashion and blockchain technology – to create an exciting marketplace that assures users the items destined for immediate re-sale on our online store are indisputably authentic and forever traceable.
A brilliant opportunity to make the fashion world swirl a little better
One trend that is negatively impacting the fashion industry is the proliferation of counterfeits and pirated goods everywhere. The emergence and growth of e-commerce platforms (Amazon, Alibaba, eBay) is one of the chief reasons for the constant rise in counterfeiting. Last year, losses incurred by luxury brands from the sale of counterfeit goods via the Internet amounted to more than 30 billion USD.
Another negative trend is the highly outdated take-make-dispose model on which today’s textile industry is built. It’s hugely wasteful and a big polluter, and produces 1.2 billion tonnes of greenhouse gas emissions annually. That’s “more than those of all international flights and maritime shipping combined.” Rising disposable income levels over the past decades means there is less need to make, do, mend and love, as it’s often cheaper and more convenient simply to buy new and discard the old.
In order to preserve our most treasured items, we need secure ways to trace and prove authenticity, origin and ownership. Yet, today’s solutions are flawed.
Why Projectdresscode
CRYPTO-TAGS
All of the items available for bidding are tagged with a private key that enables users to trace the history of the item, so users know the whole, colourful story behind it – and know it’s actually true.
AUTHENTICATION
Tagging assures users the item’s heritage has been checked and authenticated. Once authenticated, forever authenticated.
BIGGER VALUE
Crypto-tags enable PDC users to view and authorize ownership and grow an item’s value by creating and sharing content about it.
LONGER LIFE-CYCLE OF INVESTMENT PIECES
The projectdresscode scheme celebrates the special, enduring value of distinctive fashion items so they remain in the loop for all to enjoy – happily, respectfully, sustainably. Waste less, love more.
AN ECOSYSTEM, NOT A STORE
Tagging items both online and in brick-and-mortar stores helps expand the PDC pre-owned market – and all the good things that come with it.
Once items are tagged – on any on- or offline store – they become part of the PDC ecosystem, which makes them more valuable when they’re resold some time later.
SECURE YOUR PREMIUM POSITION
Our waitlists, bid/ask and re-sell schemes all work to ensure more users have more chances to secure the items they really want – and greatly reduce the chances of ever seeing that nasty sold-out button.
DECENTRALIZED TRUST – A SHARE IN EVERY TRANSACTION
Once the item is sold the proceeds of the sale are shared between the seller and the brand. By giving the brand a share in every transaction after the initial sale we decentralise the trust – which is currently dominated exclusively by brands, marketing and distribution channels – with the help of blockchain technology and the law of code.
Where are we going?
Projectdresscode is poised to enter the ever-growing online fashion resale market.
Today’s big online marketplaces are largely traditional, highly centralised operations.
Projectdresscode, however, is a fresh and new, smart and secure approach to the way we see, buy, sell and love fashion today – and pass ownership of select fashion items onto the next lucky buyer.
Industry figures
The global fashion industry is valued at 3 trillion USD.
The retail value of the luxury goods market alone is valued at 400 billion USD.
E‐commerce worldwide revenue is expected to rise by almost 50%, from $481 billion in 2018 to $713 billion by 2022.
The online resale market has grown by 82% over the past three years, and is expected to reach $25 billion by end-2025.
Existing online marketplaces for pre-owned fashion – the (non-) competition
The RealReal
2017 revenue: $500 million
users: over 9 million members
items: consigned over 8 million pieces
Vestiare
2017 revenue: over €110 million
users: over 6 million members (170,000 new each month)
items: over 600,000 listed items (more than 3,000 added daily)
Grailed
2017 revenue: over €75,9 million
users: over 1 million
items: 200,000 items for sale every month
The Ecosystem
Once items are tagged – on any on- or offline store – they become part of the PDC ecosystem, which makes them more valuable when they’re resold some time later.
Tagging assures users the item’s heritage has been checked and authenticated. Once authenticated, forever authenticated.
Every tag on a fashion item carries a private key that Projectdresscode users can use to view and authorise ownership and grow its value by creating and sharing content about the item. Tags can be scanned and read with a smartphone using the Projectdresscode mobile application.
Whenever customer decides to sell his/her item on the Projectdresscode platform that item then remains in the loop for all to enjoy – happily, respectfully, sustainably. Waste less, love more.
Once the item is re-sold the proceeds of the sellout gets shared between the seller and the brand.
By giving the brand a share in every transaction after the initial sale we decentralise the trust – which is currently dominated exclusively by brands, marketing and distribution channels – with the help of blockchain technology and the law of code.
Increasing value of pre-owned items
Blockchain is useful for tracking the authenticity of items and their owners, which is utilised by the platform. All items available exclusively on the platform have their own codes that can be verified against the blockchain.
A crypto-enabled DRESS Tag affixed to a product delivers relevant data to the end-user and gives the buyer the possibility to own, sell or trade the rights attached to it, and pass the ownership on to the next lucky buyer.
Each time the tag is scanned, additional information will create a new block on the blockchain and will also be stored on the tag.
The great advantage of the blockchain is that each block is encrypted. The second advantage is the distributed nature of the information; in case the database is partially compromised, the remaining nodes can be used to keep the information intact and original.
Resale value - Ferragamo shoes (example)
Sell price: approx. 1,500€
Resale value: approx. 1€ for every 100€ of the original price.
Being able to guarantee authenticity:
30€ or 40€ for every 100€ of the original price.
Roadmap
Marketing & branding
Establishing partnerships with selected fashion houses
Bounty campaign, Instagram, Twitter, Telegram, Reddit, BTTalk...
Private presale
Start of the public presale & crowdsale
Mobile version of the digital platform
Launch of first collection listed on blockchain with Projectdresscode Certificate
Expansion of available collections
Desktop version of the platform
Support expansion for product tracking
Establishing logistics center for our operations
Projectdresscode custom social media platform
Launch of platform for pre-owned & cyclical luxury fashion items
A library of new and pre-owned certified fashion items
Multibrand crypto-kissed fashion engine