Exclusible nets €2.2M

 In News, NFTs, Start-Up

The Lisbon startup Exclusible has netted €2.2 million to launch its NFT platform for the luxury markets.

The platform is a nod to what the Portuguese unicorn Farfetch has done but with a difference – this time aimed at the non-fungible tokens ecosystem.
The financing was lead by Lisbon-based Indico Capital Partners, Tioga Capital, White Star Capital, Shilling and various ‘business angels’, including the racing drivers António Félix da Costa and Mitch Evans.
“There was a time when people thought that luxury goods couldn’t be sold online. For the majority it seemed like an impossible task until e-commerce arrived in 2000. That ended forever when the internet became the place for luxury goods through platforms like Net-a-Porter, Farfetch, Rent-The-Runway… which is why Exclusible has a vision that luxury NFT has a bright future,” says the company.
Which is why the recently launched Exclusible, a start-up founded in Lisbon with links to New York and Paris, is launching a non-fungible tokens on the market. The company announced on Tuesday that it had closed an seed finance round worth €2.2million to put its digital platform for the luxury industry online.
Exclusible aims to be the first NFT marketplace dedicated to luxury brands, an online space where these brands can publish and sell their products and services (via these tokens which represent each piece of merchandise) and which is an added asset for brands to find new ways of engaging with its customers.
It works in the same way as has been adopted by the French company Sorare which created virtual cards that represent football players, or even Nike which enables the customer to buy an digital version of their trainers.
A non-fungible token (NFT) is a cryptographic token that represents a unique asset. They function as verifiable proofs of authenticity and ownership within a blockchain network. NFTs are not interchangeable with each other and introduce scarcity to the digital world.
“We believe that there will be a progressive migration in our digital and social lives to metaverses (virtual universes), in which traditional brands will want to be on this space given the importance and value of their brands and be where their customers are,” said the CEO and co-founder, Thibault Launay who lives in Cascais and is an NFT collector.