Singapore-based metaverse fashion brand, Altava Group has announced its successful listing on two tier 1 exchanges, Huobi Global and Bithumb. The listing positions the Tava token at $1 billion in diluted market cap according to the top two listing trackers, Coinmarketcap and Coin Gecko.
Despite the current bear market, the Tava token and its Second Skin NFT continue to perform relatively well, while the Second Skin NFT sees its current floor price on Open Seas at double that of its initial floor price, according to a press release by Altava. In a bid to further strengthen the value of its Tava token, Altava plans to launch three key features: Altava Market, Altava C2E, and Altava DeFi.
Altava C2E, a user-generated content platform, allows users to create their own fashion items which can then be minted into an NFT. Users can then sell/trade their user-generated NFT to earn Tava tokens. They can also use these items inside Altava WOY (World Of You), Altava’s metaverse application currently available on App Store and Play Store.
Altava works with several leading brands including BAYC (Bored Ape Yacht Club), Renault, Vogue, and Balmain to assist in creating exclusive NFT collections. The Altava-owned NFT Marketplace is designed to enable the aggregation of these NFTs in a single place. It will also empower users that utilise Altava C2E to sell/trade their NFTs.
The Altava DeFi platform will allow holders to stake their Tava tokens in order to further earn rewards from projects with leading fashion brands managed by Altava or partner projects. Partnerships may include The Sandbox and Animoca Brands.
“We are thankful that the institutional investors, as well as retail investors, continue to have faith in our vision of helping brands to connect and explore the opportunity between the IRL and the Web3. Our recent pop-up shop for our Bored Ape Golf Club NFT collection with Hyundai Department Store as well as our upcoming collaboration with The Sandbox and Animoca Brand should further showcase what we’d been preaching,” said Andrew (Andy) Ku, CEO/co-founder of Altava.
Fibre2Fashion News Desk (NB)