Web3 startup Bitliberte raises $1.76 million funds to establish FashionFi Ecosystem

• ByStartupStory     |    June 27, 2022

In order to create a fully-fledged FashionFi ecosystem that uses non-fungible tokens (NFTs) and decentralised autonomous organisations (DAO) to bridge the gap between fashion and finance, Bitliberte will become the first Web3 business in India to raise a funding of  $1.76 million.

A new idea for the World Wide Web called Web3 proposes a decentralised, token-based economy built on blockchain technology. Blockchain technology has advanced quickly, from the creation of Bitcoin to the current craze of the metaverse, NFTs, and P2E platforms. There is a great demand for this transparent and irreversible technology to be utilised to solve real-world problems, even if the majority of crypto industry breakthroughs have taken place in the virtual world.

The $1.76 million in cash will be used, according to Bitliberte, a DAO-based ecosystem of unique NFTs, clothing items, and metaverse assets, to increase user numbers, recruit additional people for key positions, and aid in the migration of customers from Web2 to Web3. It transforms the fashion business for the general public by enabling customers to become part owners in a vast network of corporations.

With their NFT collections, premium companies like Louis Vuitton and Gucci have recently forayed into the Cryptosphere. FashionFi is a notion that resulted from it. Bitliberte’s CEO and founder, Vaibhav Seth said, “Our protocol’s main goal is to give consumers control over their own government through a governance site and to provide users fractional ownership of fashion items and stores.”

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