Published on: 18/01/2023
Pillz to launch NFT wearables after securing pre-seed funding
Pillz is set to become the first startup to build and launch wearable devices for NFT collectibles and games. To accomplish this mission, the company has completed a pre-seed funding round led by Xsolla, the gaming payment platform that employs developers to generate and sell video games worldwide.
Pillz allows users to carry their NFTs in a necklace, bracelet, keychain or other wearable accessories. The company aims to collaborate with leading fashion and jewelry designers to create limited-edition NFT collections and one-of-a-kind accessory designs.
With Pillz, users can bring virtual items and games into the real world, making their NFTs more immersive as the devices enable users to interact with NFT game characters. Users who upload NFTs to Pillz don’t have to transfer the token to the device. Instead, they only have to verify ownership of that NFT.
The Pillz team will publish a software development kit (SDK) this year, allowing programmers worldwide to create apps and games for Pillz devices. The end goal of Pillz is to become the most widely used physical plus digital (phygital) ecosystem for people to take their NFTs out of the virtual realm into the physical world.
Pillz plans to begin sales in the second quarter of 2023. The beta version released 100 devices in December 2022, which were available for secondary sale on https://market.pillz.tech/.
Phygital NFTs
With the increase of Web3 users and NFT owners, more and more companies are exploring the possibility of bringing the virtual world into its physical counterpart.
For instance, BlockBar offers phygital NFT bottles. Until the buyer redeems their NFT for its physical counterpart, the company stores the bottle in its warehouse. Scotland’s most prestigious online whisky platform, The Whisky Barrel, recently released a single-barrel scotch whisky that comes with an NFT digital provenance certificate.
Using blockchain technology, people can reduce the risk of buying counterfeit whisky. Each bottle has a QR code that leads to a digital certificate that verifies the ownership and origin of the content.
Well-known watch brands such as Rolex, Franck Muller, Bulgari, The WatchBox, Breitling and others also have entered the NFT market. Panerai, an Italian watchmaker, made its phygital NFT wristwatch debut with the “Radiomir Eilean Experience Edition,” comprising 50 fancy wristwatches, each of which comes with a different NFT. These NFTs include various conveniences, including an upscale cruise of the Mediterranean and the Amalfi Coast in June 2022.
The legendary French fashion house Givenchy teamed up with the underground label (b).STROY to release a line of NFT-powered clothing, including T-shirts, hoodies, jeans, varsity jackets, statement handbags and shoes.
The Web3 artist collective Felt Zine recently released one-of-a-kind NFTs, which act as digital analogs to tangible objects, for the Givenchy x (b).STROY collection.
Sneakers are some other wearable phygital NFTs on the rise in the decentralized world. RTFKT, owned by Nike, is a leading brand that paves the way for phygital NFT shoes. Each “open edition” RTFKT NFT bought within six weeks of the project’s release comes with a real pair of sneakers.
