Fashion TV coin, or FTV Coin, is a blockchain-based cryptocurrency catered specifically to models and the fashion industry. Find out how it works today in our review.
What is FTV Coin?
FashionTV is launching its own cryptocurrency called FTV Coin Deluxe. Founded in Paris in 1997, FashionTV announced its cryptocurrency project in March 2018.
FTV Coins are ERC20 tokens based on the Ethereum blockchain. Token holders will be able to spend FTV Coins on various FashionTV products, including TV streaming and video on demand services. FashionTV will also allow token holders to purchase luxury goods and services using FTV Coins. The FashionTV ICO website (FTV.com) posts logos of luxury brands like Tiffany, Lamborghini, Ferrari, Bvlgari, Chanel, Bentley, Cartier, Hermes, Burberry, Prada, Versace, Rolex, and more.
The token sale for FTV Coin Deluxe tokens is underway until June 30, 2018.
How Does FTV Coin Work?
FTV Coin sees itself as a cryptocurrency for the fashion community. FashionTV’s whitepaper claims that 20 million people use cryptocurrencies today, although that number is expected to rise to 200 million people within the next few years. FashionTV wants to position its digital token as the preferred cryptocurrency for the fashion world.
The coin is known as “FTV Coin Deluxe”. The coin will be used to facilitate transactions within the fashion industry, providing members of the fashion community with a way to directly interact with sponsors and other participants. Here’s how the FTV Coin whitepaper explains it:
“Fashion TV strives to help newcomer talents to break through the harsh barriers existing in the market as well as financially empowering individual talents with a new way of monetization, while eliminating the need for intermediaries (such as large talent agencies) who currently hold most of the industry’s power.”
Why does the fashion industry need blockchain technology? What kind of benefits does FashionTV seek to introduce?
FashionTV wants to help models get the maximum value from their work. In today’s model ecosystem, there’s a long chain of intermediaries between models, agencies, and studios. These intermediaries add costs to the fashion industry while also taking money away from models.
With that in mind, FashionTV wants to create a software application that will use blockchain technology to facilitate transparent transactions in the fashion industry. The software will add transparency and reliability to the industry: transactions can be secured by smart contracts, which means models will be able to ensure their payment is secured – they don’t have to worry about an agency keeping their money, for example.
FashionTV will also offer luxury products and services over a blockchain-based marketplace. The FashionTV and FTV Coin Deluxe ecosystem will facilitate transactions between models and agencies, but it will also facilitate the sale of goods and services.
Some of the luxury goods and services available on FashionTV include cosmetics, watches, lingerie, bags, apparel, shoes, furniture, lighting, decoration, mobile phones, tobacco, food, or beverages.
FashionTV has created its own luxury products. The company’s founder, Michel Adam, for example, launched his own luxury vodka in his native Poland. You’ll be able to purchase that vodka from the FashionTV blockchain network in exchange for FTV Coins Deluxe. Bottles will be sold at a price of 100 FTV coins for a 0.75 liter bottle, although you’ll need to purchase a minimum of 6930 bottles (for a total of 693,000 FTV Coins Deluxe).
FashionTV also mentions a luxury travel agency, tickets to model competitions and events, and exclusive videos available for purchase from the FashionTV blockchain marketplace.
Who’s Behind FashionTV?
FashionTV’s cryptocurrency project is being led by a company named FTV Media GmbH, a Vienna, Austria-based organization. That company developed the FTV Coin ICO to comply with Austrian banking laws.
FashionTV was originally launched in Paris in 1997. By 2002, the platform was available in 300 million homes. It launched a reality show in 2005, opened retail stores in 2009, and went public in 2010.
By 2012, FTV had expanded its brand to the hotel industry by opening the world’s first FTV hotel. The platform went 4k in 2013, then later launched an eyewear collection, a cosmetics line, and a virtual reality streaming option. The FTV Coin cryptocurrency, launched in 2018, is the firm’s latest attempt to innovate.
FTV is registered in the British Virgin Islands. Key members of the team include Michel Adam (Founder and Chairman), Max Posch, and Tamir Glazberg.
The FTV Coin Deluxe ICO
The FTV Coin Deluxe pre-sale is taking place from March 5 to May 15, 2018, with the main ICO taking place from May 16 to June 30, 2018. There’s a total supply of 1,500,000,000 tokens scheduled to be created. The tokens are ERC20 tokens on the Ethereum blockchain.
The exchange rate is set at 1 FTV = 0.25 EUR, although you’ll be able to purchase coins for 0.18 to 0.24 EUR during the ICO.
Up to 375,000,000 FTV Deluxe Coins will be sold during the pre-sale and ICO combined. The company has set a hard cap of 67.750 million EUR. If you invest more than 100,000 EUR in the token sale, then you’ll gain access to the FTV VIP membership club.
Residents of the United States and China cannot participate in the token sale.
FTV Coin ICO Conclusion
Austria’s FashionTV is launching a cryptocurrency called FTV Coin Deluxe. That cryptocurrency will be used to purchase VIP memberships, tickets to fashion shows, and luxury products and services from the FTV Coin marketplace. The FTV Coin Deluxe platform can also facilitate smart contract-based transactions, making it easier for models and agencies to conduct business in a secure and transparent way.
To learn more about FashionTV’s FTV Coin and how it works, visit online today at FTV.com. The token sale is underway until June 30.