LuxFi and TaoBao HK Join Hands to Form New Strategic Partnership
LuxFi is thrilled to announce our strategic partnership with TaoBao HK, an online platform for consumers and businesses created by Alibaba Group. It gives everyday people and business owners the ability to sell their goods and services online.
Taobao sellers can sell products and services; set prices or hold auctions to complete sales, though most products are everyday items sold at set pricing. Shoppers can find out information about products and sellers/stores through customer feedback. Taobao also holds various kinds of online shopping festivals to showcase items and stores. Sellers have several marketing alternatives, including live streaming, paid search, and traditional festivals to showcase their items and encourage their consumers to purchase items.
LuxFi is a blockchain technology powered NFT Marketplace backed by luxury assets with a mission to fight counterfeiting issues. Our products will open a new avenue to increase liquidity in the real-world luxury asset space and address the present challenges of the luxury business. We utilize an AI system and several professional verifiers in our network before issuing NFT to ensure that every product on our marketplace is authentic.
To give consumers a benchmark price of second hand luxury goods, LuxFi has a data intelligence system that collects real-world data of luxury products in more than 28 countries worldwide. This includes information from various sales channels and social media sites to assess the NFTs accurate pricing. Merchant data, including that of Taobao HK, will thus provide a better price, deeper insight, and developing trends to buyers, brands, and sellers in our ecosystem.
NFTs in general have the potential to revolutionize traditional e-commerce platforms such as Taobao, particularly when it comes to authentication and data intelligence services. Our platform converts products into NFT and users can trade NFT in our marketplace. Our product fingerprint technique can associate the NFT with the physical asset for finished products. for finished products. For the products we directly work with brands and manufacturers, we use an anti-forgeable NFC chip inside each product during the manufacturing stage. To know more about our technologies and how we can assist in the luxury industry, see here.
With the new cooperation between LuxFi and TaoBao HK, we have taken a significant step forward, as large retailers, both online and offline, are becoming increasingly interested in the cutting-edge capabilities of our tokenization solution for traditional e-commerce companies such as Taobao HK. Luxury products sold on Taobao could be converted to NFT after verification, which will significantly boost consumer confidence.
To know more about LuxFi and our recent developments, follow us on our social media platforms listed below.
Taobao is the world’s largest e-commerce website and among the world’s top ten most frequented websites. It is China’s largest e-commerce site by far, accounting for about 60% of e-commerce sales with over 600 million monthly active users. It is utilized by the majority of Chinese and an increasing number of Asian and international users. Taobao is China’s largest online marketplace, with over 1 billion product listings ranging from cosmetics to dead mosquito carcasses.
LuxFi is the world’s first asset-backed NFT marketplace for luxury assets, where people can buy, sell and invest in luxury assets using cryptocurrencies and traditional payments. We eliminate counterfeiting while minting an NFT on a multi-chain blockchain network, with a focus on luxury assets that hold value well and have a high resale value. Leveraging our big data intelligence system and unique algorithm for automated data collecting and data processing, the value of each NFT on our platform is backed by real-world data.
Stay tuned on our social media channels:
Telegram Announcement Channel: https://t.me/luxfinews
Telegram Official Group: https://t.me/Luxfiofficial