In the midst of one of the craziest meme coin runs of the year, Legitimate delivered on our promise of making NFTs accessible to all. All of our “gasless” transactions were submitted on behalf of our customers without a single hiccup. 0 failed transactions. Every transaction processed in under 30 seconds. Median transaction time less than 5 seconds.
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Web3 has been making waves in the fashion and collectible markets. From Gucci to Adidas, companies big and small have been jumping into the new technology. NFTs and the blockchain have achieved mainstream attention and are poised to fundamentally change the way that consumers interact with products. At a glance, one might attribute the industry shift solely to hype and speculation — and the web3 space is certainly filled with speculation. However, much of the change we’re seeing in the collectibles and fashion industry actually predates the NFT and web3 craze. For existing brands, this is a course correction. For web3 brands, it’s a foot in the door to a booming global industry.
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The term “Web3” has become unavoidable in conversations, not just about the future of the internet, but in our day-to-day life as well. It’s often referred to in a grand, enthusiastic way; evocative of alchemists discussing the transformation of lead to gold, or explorers’ waxing poetic about the Lost City of Atlantis.
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A big part of the digital ownership conversation these days revolves around NFTs. Non-fungible tokens are similar to other types of cryptocurrency like Bitcoin or Ether, with a couple of small caveats. NFTs are unique in so far that each token has a distinct set of properties, whether that’s the name, description, or media. However, even if two NFTs look similar, they are distinctly unique from a provenance and history perspective.
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