On November 5, 2022, the world witnessed history in the making as Physical Backed Tokens (PBT) made their debut on the runway at the Phoenix Fashion Week Polo Event. Physical back tokens are a new technology that is revolutionizing the connection between creators and their collectors or consumers. Thanks to a local black-owned hat company called Straw And Wool, Rome Heath (Lost Markets Founder) became the first model to have a physical back token on a Runway or Fashion show. Lost Markets is working to make this technology available to as many creators as possible, in order to revolutionize the fashion industry!
Physical Backed Tokens (Crown Chips By Lost Markets) are an open-source token standard that ties a physical item to a digital token on the Ethereum blockchain, allowing creators to securely store their art in a decentralized environment and have access to various benefits such as the authenticity of products, protection of intellectual property rights, transparency in supply chain management and increased value for customers. Crown Chips also have potential applications in other digital markets such as real estate, gaming, music streaming services, or even stock markets.
The Lost Markets app is giving physical creators an opportunity to stay connected with their supporters by allowing them to send messages directly to customers who were lucky enough to purchase a Physical Back Token from them. This helps ensure long-term relationships between both parties and makes it easier for customers to find verified products from their favorite creators. Ultimately, Physical Backed Tokens are set to create an entirely new level of authentication for physical goods that no one has ever seen before!
Ultimately Lost Market’s Crown Chips are set to revolutionize how we buy and sell assets because they enable secure transactions with greater transparency and accuracy than ever before! With this technology becoming more widely accepted within different industries we’ll soon experience a whole new level of trust when it comes to buying physical goods online or offline. The Lost Markets is leading the charge towards making Physical Back Tokens accessible for everyone – whether you’re a creator looking for authentication or a collector looking for verified products – so don’t miss out on this incredible revolutionary technology!
“ Every Year there is over $500 billion in counterfeit products being sold, this hurts everyone but truly hurts the everyday creator the most. These Creators are most likely to reinvest back into their own brands which in return makes the entire experience better for the consumers too. I am thankful for being able to trailblaze this industry by showing everyone what’s possible” Rome Heath