LUKSO (LYXE)

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Fashion and Lifestyle

LUKSO enables digital fashion items that can be collected, traded, and worn virtually in games, social media filters, and 3D event spaces. It supports creating digital wardrobes linked to user profiles, allowing personal expression and ownership of digital assets.

Digital Identity and Profiles

LUKSO offers Universal Profiles, which are blockchain-based, user-owned digital identities. These profiles work as universal logins across apps on the LUKSO network, simplifying access and control over personal data and reputation.

Creator Economy and Social Media

LUKSO targets creators by providing tools and standards to build applications for fashion, gaming, design, and social media. It supports new NFT standards and smart contracts that improve user experience and interoperability.

Gaming and Virtual Goods

Users can use LUKSO to buy, sell, and use digital collectibles and assets in gaming environments, enhancing personalization and interaction within virtual worlds.

Developer Ecosystem

LUKSO is an Ethereum-compatible blockchain that allows developers to build and deploy smart contracts easily. It introduces new standards (LSPs) to improve security, flexibility, and user experience for blockchain applications.

Commerce and Authenticity

LUKSO helps verify the authenticity and lifecycle of products, especially in fashion, by tracking items on the blockchain from creation to sale, supporting transparency and trust.

For more details, visit LUKSO's official website.

Pros of LUKSO

• Creative Economy Focus: LUKSO is designed specifically for fashion, gaming, design, and social media industries, helping creators and brands tokenize and manage digital assets.
• Universal Profiles: These smart contract-based profiles simplify digital identity by allowing users to control all their virtual assets and log in across platforms without passwords.
• Innovative Standards: LUKSO introduces new token standards that allow multiple platforms to sell the same digital asset simultaneously, increasing sales opportunities.
• Digital Twin Technology: It links physical products to the blockchain, ensuring authenticity and uniqueness, which is useful for fashion and collectibles.
• Ethereum Compatibility: As an EVM-based Layer 1 blockchain, it supports decentralized apps and smart contracts familiar to Ethereum developers.
• Open and Permissionless: Anyone can build or use applications on LUKSO without restrictions, encouraging innovation.

Cons of LUKSO

• Market Performance: LUKSO’s token price has shown volatility and underperformance compared to some other smart contract platforms recently.
• Development Challenges: Some community feedback mentions a lack of ongoing development momentum and missing features like a mobile wallet.
• Liquidity and Trading Volume: Trading volumes can be low or declining, which might affect ease of buying or selling tokens.
• Niche Focus: Its strong focus on creative industries might limit broader adoption compared to more general-purpose blockchains.
• Competition: Faces competition from larger, more established blockchains with similar smart contract capabilities.

For more details, visit LUKSO's official website.

Founders of LUKSO

• Fabian Vogelsteller: Co-founder and former lead developer at Ethereum. He is known for creating the ERC-20 token standard and introducing the Reversible ICO (rICO) concept.
• Marjorie Hernandez de Vogelsteller: Co-founder and CEO of LUKSO. She is responsible for the concept, design, operations, and product development of LUKSO, bringing experience from innovation labs and working with top brands.

These two visionaries started LUKSO to build a blockchain focused on the lifestyle, fashion, gaming, and creative industries.

Institutional Investors

LUKSO has raised funding from several institutional investors including Enigma Ventures, Warburg Serres, and Agnostic.

Notable Individual Investors

Valeria Kholostenko is a known individual investor who participated in LUKSO's funding rounds.

Corporate and Startup Support

Google for Startups has also invested in LUKSO, supporting its development and growth.

Funding Overview

LUKSO has raised about $18 million over two funding rounds, with the latest seed round completed in early 2021.

For more details, you can visit the official LUKSO website: https://lukso.network/

Halal Status of LUKSO

• Answer: No official ruling found.
• Reason: There is no clear, authoritative Islamic scholarly source or fatwa publicly available that specifically declares LUKSO halal or haram. Halal status often depends on how a crypto token is used, its compliance with Islamic finance principles (like avoiding interest/riba), and the nature of the underlying project. Since LUKSO is a blockchain platform focused on digital identity and creative industries, its halal status would need to be assessed by qualified Islamic scholars based on these factors.