How can virtual fashion items be "owned"?
One of the core features of blockchain technology is that electronic records created on the blockchain network are immutable which means your ownership records can not be altered by anyone and therefore you can own virtual fashion items for the first time in human history.
Does ownership mean having a copy of the product images on your local device or on your phone?
This is a common misconception about owning something digital, having something in your possession does not mean you are the owner. However, owning an NFT shows you are the owner and give you the right to sell that NFT.
How does BNV promote the tokenisation of 3D virtual fashion items?
We work with brands and creators throughout the lifecycle of the fashion items created by them on BNV's platform. From creation, digital product launch (DPL), tokenisation on the Etheruem blockchain and maintaining an exclusive marketplace for trading these fashion items, we are there every step of the way.
What can I do after I win an item in an auction during DPL?
You can auction it on the BNV marketplace which means the brands and creators will also get a small fee from your sale. Only you can privately view the full 3D item in your wardrobe to fully experience the highly detailed virtual 3D fashion item. You can also send your 3D fashion item to someone as a gift. BNV will continue working towards expanding the usage of the NFT's so that you will be able to do more with these stunning 3D virtual fashion items.
Metamask is a cryptocurrency wallet for accessing Dapps and make transactions on the Ethereum network. We recommend using Metamask if you are familiar with blockchain, cryptocurrency, and things like seed phrases and private keys.
Torus is also a cryptocurrency wallet and its recommended for all users. It has one of the easiest signup and wallet creation processes. You also won't need to worry about losing your private key or seed phrases.
What can I do in the Showroom?
BNV Showroom is where brands and creators launch their 3D virtual products and where you can bid in an auction to win an item at DPLs.
What can I do in the Marketplace?
BNV Marketplace is the only place where you can list the NFT's for sale. We do this because we need to make sure brands and creators see that their brand equity is protected and they receive their royalties on auctions and trades.
What are transfer fees?
Transfer fees are charged on all peer-to-peer DPT transfers, so as to uphold our commitment of providing almost universal and perpetual royalty collection for our brands and creators.