Azuki is Launching Physical Backed Token

Posted on the 08 November 2022 by Nftnewspro

Fresh off of auctioning the most expensive skateboard ever sold, Azuki follows up with its initial limited-edition cooperation with AMBUSH.

Modeled by American-Japanese pop star Mandy Sekiguchi, the Azuki x AMBUSH series features 4 pieces: 2 hoodies and 2 pendants. The silver pendant is engraved with Azuki’s rally-cry IKZ (ikuzo, meaning “let’s go” in Japanese) on the inside, looking like an inkan stamp. For the gold version, the pendant hosts a detailed sculpted dragon and IKZ engravement.

In addition, the hoodies model after the AMBUSH WORKSHOP collection, that has the inkan stamp, red IKZ, and significantly, Azuki’s PBT (Physical Backed Token).

First showcased in Azuki’s 24k Golden skateboard, the PBT allows users to track the provenance of authentic goods on the blockchain. Users can scan the chip on their phone for the AMBUSH sweatshirts, enabling the PBT to be minted and digitally transferred to the owner’s wallet.

Yoon, creative director of AMBUSH, commented, “Web3 tech is changing the way we experience life. We are thrilled to see how fashion and Web3 can combine via this partnership with Azuki and PBT ‘BEAN’ Chip tech.”

Due to the final price tag of Azuki’s 24k Gold skateboard and the notoriety of AMBUSH, these two will offer the series as a raffle. On November 9th, at 9AM PST, Azuki will open access points on its website where users can pay with ETH and choose the items they hope to score. Winners will be chosen through airdrop on November 11th.

Azuki made a strong choice with AMBUSH for its initial fashion cooperation to see how PBT will act. The collaboration offers an experiment on how blockchain can be used to verify authentic goods.

We won’t see the whole benefit of PBT in action until these sweatshirts hit the secondary market. Briefly, time will tell how this added level of authentication affects resale prices.

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