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Through the prism of fashion and culture, José Neves, the creator and CEO of Farfetch, the online luxury marketplace, explains what Web3 is and what it is capable of.

According to Neves, fashion enables people to put on several “masks” based on emotions and the personas they wish to project. According to him, technology should support this, not replace it, and the application cases are limitless when applied [Web3] to the fashion industry. The problem is that when people think about Web3 Fashion, they see digital attire on avatars—which can occasionally look horrifying or really futuristic. They consider it either a game or a serious matter, similar to a second life. The answer is that it might be any of them. The application of these ideas of user control, user ownership, and decentralised architecture to the use cases in fashion is, in his opinion, what constitutes the Web 3’s application to fashion. He has the foresight to see that both the physical and the virtual world will play an increasingly important role in how businesses can flourish in the future.

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