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Trace Network Labs (TRACE), what is it?

Jan 30, 2022
4.94 (687 votes)

Trace Network Labs, here is a complete decentralized protocol for enabling lifestyle for any multichain metaverse.

Trace Network Labs

Trace Network Labs is an enterprise-grade NFT based decentralized finance protocol harnessing the capabilities of composable smart contracts to enable permission-less financing options.

Powered by DeFi, and NFT based unique merchandise identification solutions to unlock the billions of dollars’ worth of business potential otherwise undermined due to poor merchandise inventory & ownership management, costlier trade financing & banking options, and perennial inefficiencies in par Diem business transactions.

Trace Network Labs, what are the goals and benefits offered by this ecosystem?

Any reputed brand’s struggle in today’s scenario is to save their reputation by saving their consumers from counterfeit products.

The counterfeit market roughly has taken away almost 14.3% of the brand’s business and the reputation cost is something way beyond these numbers. And in the luxury products business, it takes years of struggle to create a loyal customer base and anything like counterfeit products is killing their existing business and the repetitive business they expect from the same loyal customers.

There is a dire need for bringing mechanics to identify the originality of products, which can help the customer to make a purchase based on the brand’s reputation.

NFT based on chain merchandise identity management

Blockchain enables the generation of NFTs of products to create their unique digital identity.

Based on the NFTs, which will be generated on ERC 721/ERC 1155 standards, will allow ownership of product/packs and also the movement of ownership across multiple dApps.

These product NFTs would act like a unique barcode, which shall be unique across all blockchains.

NFTs will not only be used on trace network for merchandise identity, instead it will also be used for enabling various community incentivization instruments for brands like gift cards, discount coupons, loyalty cards etc for brands to be able to build a loyal and long lasting community.

Trace Network Labs, its NFT Marketplace

Trace Network’s NFT marketplace- BLING is the 1st Limited Edition Luxury & Lifestyle Products NFT Marketplace brought to you by Trace Network.

Currently, NFTs around the world only has a digital association, which means you can only own a piece of digital art that has been tokenized on a blockchain. BLING NFT marketplace from Trace Network, will act as a bridge between real-world goods and virtual non-fungible tokens that have been created specifically to represent a unique piece of that limited edition luxury lifestyle product.

Trace Network Labs, enabling Lifestyle For Metaverse

Its products

AVATARS FOR METAVERSE

BUDDY

Create your personalized avatar to work, play and socialize in various metaverses. Your buddy avatar are made with standards which allows crosschain movement to allow you to enter and interact in different metaverses.

LIFESTYLE NFT MARKETPLACE

BLING

Buy and sell Lifestyle Product NFTs in the BLING Marketplace. Add the very best digital lifestyle products, accessories into your digital wardrobe which can be worn on your Buddy avatar in various metaverses.

SDK For Brands to create NFTs

SDK

SDK enables brands to create new category of unique digital products which can be used to exchange product details with various web2.0 web3.0 platforms.

OS for Metaverse & Defi

eMETA

Trace Network Labs is enabling brands to explore Web 3.0 products and services using packages of SDKs bound into the core operating system.

 

Trace token utility

The native digital cryptographically-secured token of the Trace Network (TRACE) is a transferable representation of attributed governance and utility functions specified in the protocol/code of the Trace Network, and which is designed to be used solely as an interoperable utility token on the network/protocol.

TRACE allows owners to propose and vote on channel governance proposals to determine future network features and/or parameters.

Direct access to the official website

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