Aura CEO Reveals Revolution in Luxury Industry and DPPs Are Part of It
High above the streets of Paris, during the elegant aura of NFT Paris, an extraordinary convergence unfolded.
Top executives from renowned fashion, automotive, watch, and alcohol brands mingled with crypto innovators, delving into the future of luxury through the lens of blockchain technology.
For the past three years, these industry titans have been dipping their toes into various blockchain experiments, from immersive metaverses to exclusive product drops for NFT holders. However, according to Romain Carrere, CEO of the Aura Blockchain Consortium—a collective of luxury giants like Louis Vuitton, Prada, and Mercedes-Benz—the luxury-crypto relationship is about to take a big leap.
“Web3 customers of luxury brands are growing rapidly—it’s exponential,” Carrere shared at NFT Paris. “That’s why we’re enhancing our Web3 functionalities—we’re seeing more customer engagement.”
Aura, boasting 40 prestigious members, is gearing up for a pivotal moment: the anticipated implementation of the European Union’s Digital Product Passports (DPPs) regulations in 2026. These regulations mandate detailed product information, presenting an opportunity for Aura to create on-chain DPPs that transcend mere compliance.
“DPPs are just the beginning,” Carrere emphasized. “Customers want added experience.”
Under Aura’s guidance, luxury brands are embracing on-chain authentication, revolutionizing the consumer experience, according to Decrypt.
Soon, European customers won’t just receive basic supply chain info; they’ll access secure, on-chain portals, ensuring the authenticity of their luxury goods and unlocking additional features like loyalty programs and warranties.
As DPPs become the norm, luxury brands are integrating on-chain authentication in various ways, from NFC chips in fashion items to AI image fingerprinting for verification. Yet, while each brand tailors its DPPs, they’re united in establishing a standard via Aura—a remarkable collaboration in an industry known for cutthroat competition.
“They can be fierce competitors,” Carrere remarked. “But now they’re joining forces to create a standard for the greater good. It’s something unique.”
