Superstar Dialogue Issue 11 | Trend Culture Ecological Landing Project SNKr Challenges Nova Club Investor Team Dialogue Complete Works
At 15:00 on March 2, SNKr, a trendy cultural and ecological landing project, participated in the eleventh program of Superstar Dialogue. SNKr founder George and Nova Club member QRC Group Chinese partner Shin, Quest Capital CEO Qu Ming, and Lianxing Capital The partner Jiang Lifeng had a heated conversation.
SNKr is a trend culture ecological landing project, which is committed to using NFC chips and blockchain technology to realize anti-counterfeiting traceability from the source, thereby completely solving the problem of counterfeit goods in the trend industry. At present, SNKr has cooperated with many fashion brands including INNERSECT and Labubu. Nova Club investors believe that SNKr combines IOT and blockchain technology to effectively link all links in the fashion brand ecology by using the pass mechanism to create a decentralized fashion brand trading platform, which is expected to become the benchmark of the fashion brand industry.
The following is the complete collection of conversations compiled by Nova Club:
Moderator (Xiaotong): Some people line up to buy iPhones, while others line up to grab AJs. The transition from material consumption to spiritual consumption. Emerging consumers value the culture and identity represented by brands. What is the current Chinese trend market pattern? ? How big is this cake?
George: The trend market we usually refer to mainly refers to fashion brand clothing (Supreme, Off-White, etc.), sneakers (Nike, Jordan, Yeezy, Converse, etc.), trend toys (high-end art dolls such as Bearbrick, Kaws, etc.) Getting started, such as blind boxes such as Molly, Labubu, etc.), accessories (Japanese silver jewelry, watch G-shock, etc.).
It can be seen from the category that trend culture has actually become a way of life, permeating every aspect of life, not to mention hip-hop music, skateboarding and other aspects. Therefore, the global trend industry is a market exceeding 200 billion U.S. dollars, dominated by the United States, Japan, Europe, and China. China is currently small in size, but has grown rapidly in recent years.
Market structure, we mainly talk about the channel structure.
Trendy play and accessories are relatively small in scale. Popmart is the dominant player in the fashion play field, integrating designers, production, and online and offline channels. For the time being, there is no second child, but there are many competitors. Trendy brands and sneakers occupies the main market volume, and the relatively early-established stocks, as well as the re-sale of sneakers, should be the most important players in the market. In stock fashion brands account for a larger proportion, especially Guochao, which benefited from the rise of Guochao brands; Du and nice are the top and second in the sneaker market respectively, and the pattern is basically established. Of course, Tmall, Taobao, and Xianyu still occupy a pivotal position in all circulation links of the trendy market.
Moderator: What are the industry pain points in the trend of cultural economy? Can blockchain technology solve it?
George: Trend is a unique market with primary and secondary markets. Limited quantities, scarcity, star effect, artistic level, etc. all promote the existence of value-added premium space for fashion brands, sneakers, and fashion games. Therefore, the biggest pain point in the fashion market is fakes. Brand officials will be encroached on the market by fakes, resellers must have the ability to identify, and consumers will lose profits. This is a chain reaction caused by fakes.
And this is the original intention of our team for the SNKr project. Using NFC chips and blockchain technology, we hope to achieve anti-counterfeiting traceability from the source, so as to completely solve the counterfeit problem in the trend industry.
Moderator: SNKr is a trendy cultural ecological community empowered by blockchain. Since it is the community, who are the participants?
George: Brands, channels, resellers, consumers, appraisers, etc. will all be participants in our community.
Moderator: Behind the selection, order placement, and receipt confirmation, what is the difference between SNKr and Internet APP in the process?
George: Our ultimate goal is to build a decentralized fashion brand trading platform, which is technically composed of several parts: one is the NFTization of commodities, the other is the tokenization of payment, and the third is the agreement of the transaction process. The fourth is the application chaining of the underlying technology.
At present, we have completed the first part, so the goods on the App "mine" have been uploaded and NFTized. The second payment is still legal currency payment, and we will consider gradually supporting the payment method of tokens and stable coins. Third, the transaction process. We are still using the semi-centralized method of Internet + blockchain. Sellers can independently log on and list products for sale. At this time, the NFT ownership transfer of the product will be initiated; users select and place orders on the Internet. , But when receiving the goods, after confirming the receipt, the ownership of the product NFT will be automatically received.
The final transition to complete decentralization requires the technical support of the underlying public chain to develop the corresponding transaction protocol. Compared with the existing DAPP model, we recognize the more independent Appchain application chain model. But we must wait until the technology is mature before we try, after all, we are still business first.
Moderator: Japan is the birthplace of Asian trend culture. Many designers who influence the world's trend have been born here. It can be said that to a certain extent, Japanese trend culture is the most representative trend form in Asia. Sneakers are not necessarily related to sports in Japan. Although people who do not watch or play football also love sneakers, the main focus is on style and fashion sense. And the number one sneaker in Japan should be the Nike Air Max!
In the mid-1990s, the Nike Air Max was first released in Japan. It was the first time that sneakers caused a whirlwind in Tokyo, Japan. It was a shock at that time. A pair of Nike Air Max sneakers at that time could be sold to 30. Ten thousand yen (approximately 18,500 yuan). Shin comes from QRC Group and is headquartered in Tokyo. I would like to ask Shin to tell us how much influence the Japanese trend culture is?
Shin: Japanese trend culture actually leads the development of trends in Asia. The earliest American street fashion culture spread to Harajuku, Tokyo, then Taiwan, Hong Kong, and the mainland. Japan has also born many iconic free fashion brands, EVISU, KENZO, Miyake, CDG Play, Visvim, Neighborhood and so on. Japanese fashion brand dress has also developed its own field. But despite the rise of local street fashion brands, it does not affect the integration with world trends. For example, Supreme’s weekly sales in Japan have attracted countless people’s rush to buy. It is not surprising that the line starts on Friday night. Trendy brand trading in Japan is basically in the form of second-hand trading websites, or trading in the Twitter circle.
Moderator: With the popularity of "Show Me The Money", people's understanding of "K-POP" has gradually expanded from the only "Korean idol group" in the initial impression to "rappers" with more street characteristics Body. "China New Rap" was also built with this as a prototype. With the soaring popularity of equipment in the show, "SHOW ME THE MONEY" and adidas launched a series of brand new joint shoes. Mr. Qu is based at Quest Capital in Seoul. Tell us how influential is the Korean trend culture?
Qu Ming: Speaking of buying shoes, the first reaction of many people is that snkrs draw lots or buy on drugs. Snkrs and drugs are different from the secondary market and the primary market. Snkrs is only one of the many primary market selling platforms. The drug is the secondary market. It is the price after the upsell, and it takes a certain time for the seller to get the goods. Snkrs is the first release. , Some shoes are only sold abroad, the ones on snkrs are sold in China, and the ones on poison are shoes from various channels.
It is worth mentioning that they are fundamentally different. In the Korean trendy shoe market, similar trendy shoe platforms are not very developed. They are all through some blogs: such as nanver 카페, search for which one you want, and then contact the seller. In the case of social networking sites, for example, watch an official advertisement on ins and then draw lots.
Shin: In addition to the super aura and distinctive personality entrained by the brand itself, FR2 is popular because of the founder Ryo Ishikawa's insight into the modern young people's yearning for "rebellious" and "freezing themselves". In a news event last year, a company named "Shanghai Luxe Puyun Clothing" opened up an FR2 store and opened 2 stores at once! After registering the trademark, under the banner of the official brand, the new product launch event was blatantly held, and the sales were still fakes, showing that they were cheating consumers. Ryo Ishikawa, the founder of FR2, directly spoke on his social platform in Chinese, Japanese, and English: "I will sue! To the end!" Regarding the behavior of defrauding consumers, has the brand platform ever followed The source solution?
George: Blockchain technology is to ensure that the data on the chain cannot be tampered with, but true anti-counterfeiting traceability also needs to ensure the authenticity of the data on the chain. Therefore, we use an encrypted NFC chip to bind to the real object. Either implant the product in the production process of the brand, such as our official cooperation with Labubu, implant the chip in the doll during production; or bind the physical object at the channel side, this must ensure that the chip is not transferable, we The graphene chip used cannot be copied once it is torn and destroyed. Therefore, as long as the official uses our blockchain encryption chip and the on-chain storage certificate, the source of anti-counterfeiting can be achieved.
FR2 does have a big impact on the trend circle, so Ishikawa Ryo specially released a special "This is Not a FAKE" series for sale at the INNERSECT trend show. Of course INNERSECT uses our chips to prevent counterfeiting for this batch of special models, and you can buy them on our mining APP. Indeed, we can see that when foreign well-known fashion brands face entering the Chinese market, their first priority is how to prevent counterfeiting.
Qu Ming: The Korean entertainment idol’s economic boom has made fans feel great satisfaction by having the same equipment or peripherals as the fans. It is none other than GD Quan Zhilong to bring goods to the king. Among these series of economic activities, the SNKr platform can What role does it play?
George: The most well-known trend KOL in Korea is GD Quan Zhilong, the king of super merchandising. I just finished my military service last year, and I released a "Daisy Air Force 1" with Nike. Thousands of pairs posted on Tmall are all in an instant.
In fact, we have been exploring the possibility of innovation in social relations with blockchain. At present, we have created a new type of social interaction relationship for celebrities and fans through the confirmation of blockchain rights and the transfer of ownership. In other words, in the ownership chain of the product, it can be seen that the product is "owned by a star" "Over time, this has virtually increased the scarcity and value of the commodity. In the near future, we will also fully cooperate with a domestic celebrity independent IP product to provide it with anti-counterfeiting and social interaction services. Please stay tuned.
Shin: As mentioned earlier, the ultimate goal of SNKr is to build a decentralized fashion trading platform. What is the difference between a decentralized fashion trading platform and a centralized Internet trading platform?
George: The trend resale platform, or the secondary market, is a special place in the trend industry. Many limited edition sneakers, trendy play and trendy brands have appreciated, especially sneakers. Therefore, several well-known resale platforms at home and abroad have been created, such as StockX, Dewu, nice, etc. Because there is a huge room for profit, the frequent occurrence of negative news such as fakes, opaque identification, and futures skipping orders reflects the defects and drawbacks of the centralized trading platform in this process. To some extent, these problems are insoluble in centralized platforms.
However, we can use the blockchain-encrypted chip to bind the physical items, so that the traded products will not be exchanged during the circulation process; at the same time, we use the blockchain to confirm the rights, which can bind sellers, authenticators, buyers and even The responsibility of the logistics party in the transaction process can prevent disputes such as framing, wrangling, and arbitrary tampering of records. At the same time, SNK tokens are used for economic incentives and constraints, so that all parties can complete transactions in a decentralized system. This is a trading platform we are building. We hope to bring a better model to the trend resale market, truly protect the interests of buyers and sellers, and promote the healthy and sustainable development of trend culture. Instead of simply shouting the slogan "shoes are not fried"!
Qu Ming: I would like to ask the next operational plan, when will we expand the Japanese and Korean markets?
George: As I just talked about, Japan and South Korea themselves are very important in the trend market.
Through our cooperation with INNERSECT in the past, we have also established good cooperative relations with many well-known Japanese and Korean brands.
We are looking forward to having more Japanese and Korean users on the consumer side. Therefore, we hope that there are community users who have the same ideas as us, and work with us to develop the Japanese and Korean markets.
Jiang Lifeng: I remember that when he joined Huobi for incubation at the beginning of the year, Li Lin proposed the idea of blockchain +, hoping to pay more attention to projects that combine blockchain and industry. At that time, he was also responsible for initiating the establishment of a district led by Huobi. Block chain + industry alliance, but the time may not yet come. Therefore, for blockchain practitioners, 10.24 is undoubtedly a shot in the arm. Not only is the name correct, the key is to bring greater confidence and broader consensus in the blockchain. Blockchain+ may It really came. George, what do you think of the development opportunities brought to SNKr by 10.24? What is the current development status of SELL's blockchain chip business? What are the specific plans?
George: 1024 makes domestic businesses begin to recognize and gradually understand the blockchain, which is definitely convenient for us to promote this technology.
Jiang Lifeng: The trendy brand market has gradually entered the public eye because of the shoe-making in recent years. I know that George, you used to invest in a well-known domestic investment institution, and later joined the famous trendy brand e-commerce platform INNERSECT under Edison Chen as PARTNER. What is your consideration? ? And now SNKr is founded to introduce the blockchain technology community into the fashion brand industry, how do you think about the market opportunities and future development here? Compared with the traditional fashion brand resale platform, what are our advantages?
George: From investment to entrepreneurship, it is nothing more than seeing the huge growth potential of this industry and the opportunity of market gaps. When we and Edison Chen planned INNERSECT together in 2016, there was no "Rip Hop in China" and no "poison". All of this has exploded in recent years.
The reason why I am doing SNKr now is also because I discovered that anti-counterfeiting is just needed for the trendy brand during the process of doing INNERSECT, and blockchain technology can perfectly solve this problem, and it also provides more "black technology" and "pioneer" gameplay. , Including cryptocurrency, these are areas that our industry users are particularly willing to try. We hope to gradually convert trendy young people into cryptocurrency users. This is also the reason why our token is named SneakerCoin, making trend users more acceptable.
The traditional fashion brand resale platform is a strongly centralized platform, which has many drawbacks in terms of fakes, opaque identification, futures running, and arbitration. These can be solved after we use blockchain technology, which is greatly enhanced. This improves the transparency of the transaction process and reduces transaction costs. At the same time, we adopt a decentralized transaction model, combined with a token economic model, to return the market to buyers, sellers and third parties, so that each transaction participant can maximize its own interests while maximizing the overall network The effect of realizing "no middleman makes the difference".
At present, we already have heavyweight partners in the fields of fashion brands, sneakers, and fashion games. Through them, we have started to establish direct cooperation with many brand officials. I believe you can see our official announcements one after another.
Jiang Lifeng: Vechain is mainly used for certification and traceability in the public chain. There are many large-scale applications at home and abroad, and it has also received investment from well-known institutions such as PricewaterhouseCoopers. Can you introduce the cooperation between our SNKr and them?
George: VeChain is our underlying public chain. VeChain provides us with basic technologies such as blockchain encryption chips, on-chain and NFTization. At the same time, the SNK token is also developed based on VeChain. VeChain has done a good job of putting physical assets on the chain in all public chains, but most of its projects are for B-side business services, such as cooperation with Walmart and luxury brands; and we are one of the few in the VeChain ecosystem. Project for the C side.
Shin: I think we can take the blockchain technology to take a look at transforming the Japanese street fashion market and let everyone buy real products.
Qu Ming: SNKr has an in-depth insight into the pain points of the trend culture industry chain, and uses the decentralized characteristics of the blockchain to create a decentralized fashion brand trading platform, which has a great possibility of changing the future fashion industry. I am also a fan of fashion brands. I have been collecting sneakers frantically since I was a child. I look forward to buying my favorite products on the SNKr platform someday soon. I wish SNKr.
Jiang Lifeng: As a blockchain application, SNKr is expected to become a benchmark for the fashion brand industry. Combining IOT and blockchain technology, it uses a token mechanism to effectively link brand parties, channel parties, reseller sellers, consumers and appraisers to create As a blockchain-based trendy brand e-commerce social platform, the blockchain needs more down-to-earth applications like Sneaker coin, and of course, it also needs more public chain ecology like Vechain that can effectively support the application.
Superstar Dialogue Issue 11 | Trend Culture Ecological Landing Project SNKr Challenges Nova Club Investor Team Dialogue Complete Works