Web3 Startup, Pillz Secures New Round of Financing
According to reports, Web3 \”digital\” fashion startup Pillz has announced the completion of a new round of financing, with the participation of game payment platform Xsolla. Pillz i
According to reports, Web3 “digital” fashion startup Pillz has announced the completion of a new round of financing, with the participation of game payment platform Xsolla. Pillz is an extension of digital identity. The equipment it manufactures can make NFT collections and NFT games tangible, allowing users to interact with NFT in reality. It has also built its own system based on Linux. The new funds will help the company accelerate the launch and mass production of its products, including necklaces, bracelets, key chains, and fashion and jewelry brands, which are expected to be launched in May this year. （venturebeat）
Web3 “phydigital” fashion startup Pillz completes a new round of financing
Introduction
Pillz, a digital fashion startup in the emerging Web3 space, has announced the completion of a new round of financing. The round has been led by popular game payment platform, Xsolla, and is expected to help Pillz accelerate its launch and mass production of products.
What is Pillz?
Pillz is a digital fashion startup that aims to provide a tangible experience for users to interact with NFT (non-fungible token) collections and games in reality. The equipment manufactured by Pillz is an extension of digital identity that makes the intangible NFTs, tangible. This startup has also built its own system based on Linux, which is intended to support its unique approach to digital fashion.
The Funding Round and the Expectations
The new funding raised by Pillz is expected to help the company launch a number of products which include necklaces, bracelets, key chains, and products from various fashion and jewelry brands. It is expected that the new products will be launched in May this year. The involvement of Xsolla in the funding round is expected to bring Pillz broader reach and potential customers in the gaming industry.
How will Pillz create Tangible NFT Collections and Games
Pillz is set to make a difference with its approach to digital fashion. The startup’s equipment is expected to help users interact with NFT collections and games in reality. This will be possible through the provision of a tangible experience that the users need not obtain through digital devices. The method of interaction will be through the wearable items manufactured by Pillz.
The Significance of the Web3 Space
The emergence of companies like Pillz is a reflection of the growing significance of the Web3 space. While the Web1 space was characterized by static pages, and the Web2 space is famous for the advent of social media, the Web3 space is characterized by the rapid development of decentralized autonomous organizations and blockchain technology. In this space, it is expected that digital identity will become even more important.
The Impact of Web3 Technology on the Fashion Industry
The fashion industry is one of the industries that are likely to be heavily impacted by the Web3 space. The approach adopted by Pillz is an example of what the possible interactions between the industry and the Web3 space will be. As Non-Fungible tokens become increasingly prevalent, it is expected that their use in the fashion industry will be one of the outcomes of the emergence of the Web3 space.
Conclusion
The announcement of a new funding round for Pillz is expected to bring a lot of excitement in the startup world. The involvement of a popular game payment platform like Xsolla is expected to attract attention from different industries, and provide broader reach for the startup. The emergence of such startups emphasizing digital fashion is an early sign of the impact that the Web3 space is likely to have on the fashion industry in the coming years.
FAQs
Q1. What is Pillz?
A. Pillz is a digital fashion startup that provides a tangible experience for users to interact with NFT (non-fungible token) collections and games in reality.
Q2. What is the significance of the Web3 space?
A. The emergence of the Web3 space is significant due to its rapid development of decentralized autonomous organizations and blockchain technology.
Q3. How will Web3 technology impact the fashion industry?
A. As Non-Fungible tokens become increasingly prevalent, it is expected that their use in the fashion industry will be one of the outcomes of the emergence of the Web3 space.
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