What is LUKSO?
LUKSO is a blockchain infrastructure that aims to revolutionize the way consumer goods are produced and consumed by introducing a series of standards and solutions that promote circularity, transparency, and responsibility. The platform is designed to provide a dynamic decentralized digital layer that can be used to embed all stakeholders' interactions, creating a verifiable, transparent, and secure system. By utilizing blockchain technology, LUKSO aims to open new access channels between socio-creative crowds and expand the digital, physical, and virtual touchpoints across all creative platforms, verticals, and professions.
The platform seeks to introduce standards and tools that will enable a new economy based on cultural currencies, digital certificates, and universal public profiles. Universal public profiles, or UPPs, are the core building block for the new creative economies and will allow for verifiable and economic interactions. Digital certificates will establish a digital identity for physical and digital products, enabling new forms of digital ownership. Cultural currencies, or digital tokens, will act as the connective medium for lifestyle communities, making them participative, valuable, and inclusive.
LUKSO's native currency is LYX, which is represented on the Ethereum blockchain as LYXe. The LYXe token serves two purposes: to account for the amount of LYX reserved in the LUKSO Blockchain and to give access to users' wallets and the corresponding ETH in the reversible ICO (rICO). The rICO approach allows for the purchasing of LYXe over time while maintaining the ability to reverse the commitment partially at any point within eight months.
LUKSO was created by former Ethereum developer Fabian Vogelsteller and brand architect Marjorie Hernandez, the creators of ERC-725 and ERC-20. The whitepaper was released in February 2020, followed by the technical lightpaper on February 10, 2020. The platform aims to drive innovation around the core themes of future creative work, redefine how collections can be displayed, assets managed, and brands experienced, and allow creative professionals to shape emerging trends and unleash their creative force.
In addition to its focus on driving innovation in the creative industry, LUKSO also aims to promote sustainability and circularity in production and consumption. By using blockchain technology to create a verifiable and transparent digital layer for physical and digital goods, LUKSO hopes to enable consumers to make informed choices about the products they buy and the brands they support. This can help to promote more responsible production practices and encourage the development of more sustainable products and services.
One of the key features of LUKSO is its focus on creating a new economy based on cultural currencies, digital certificates, and universal public profiles. These tools are designed to enable more efficient and secure interactions between stakeholders in the creative industry, from designers and manufacturers to consumers and investors. By making it easier for stakeholders to connect and collaborate, LUKSO hopes to drive innovation and growth in the creative sector.
LUKSO is governed by its native token, LYXe, which is an ERC-20 token on the Ethereum blockchain. The token serves two main purposes: to account for the amount of LYX reserved in the LUKSO blockchain, and to give users access to their wallets and corresponding ETH in the reversible initial coin offering (rICO). The rICO approach allows users to purchase LYXe over time while maintaining the ability to partially reverse their commitment at any point within eight months.
Overall, LUKSO is an ambitious project that aims to create a new digital lifestyle ecosystem that promotes innovation, sustainability, and circularity in the creative industry. With its focus on universal public profiles, digital certificates, and cultural currencies, LUKSO hopes to enable more efficient and secure interactions between stakeholders in the creative sector, and to drive innovation and growth in the industry. So LUKSO is a powerful tool for creators and innovators looking to build new products and services that make a positive impact in the world.
The investment information, comments, and recommendations provided here do not fall under the scope of investment consulting. Therefore, making an investment decision based solely on the information and comments provided here may not yield results that meet your expectations.
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