Popular crypto channel Altcoin Buzz shares with their subscribers a huge potential project named Lukso (LYXE) and solid reasons this altcoin would stand a chance to pump 100x.
Lukso overview
Lukso (LYXE) is a PoW blockchain from the creator of ERC-20, ERC-725, and web3.js. This decentralized infrastructure focuses on the fashion industry. As the crypto KOL points out, digital fashion, the Metaverse and NFTs already represent massive markets, and Lukso blockchain has caught the attention of industry heavyweights like Vogue Magazine.
“We should look at the digital fashion world to understand what Lukso is and how it can operate in the existing system. This includes digital clothing, NFTs, personalized avatars, and a variety of other items. A paradigm change is taking place in the idea of lifestyle consumerism,”
The native token is LYXE and Lukso is also happens to be the world’s First Reversible ICO project. For Lukso, Ethereum is used as collateral, and thus they currently have 15 million LYXE tokens in circulation. According to the trader, these LYXE tokens will be converted to LYX once the mainnet is live in Q4 of this year.
Since its launch, LYXE had a great rally from $0.35 in February 2020 to an ATH of $31 recently, meaning a rally of 70x.
Price catalysts
The crypto KOL points out 3 major aspects that would serve as a price catalyst for LYXE to continue its rally:
1. Identity and Data governance
According to the trader, this is the most critical aspect of the project in which Lukso offers a self-sovereign, universal and transferable identity.
“Lukso enables users to prove their identity and take the information with them whenever they leave the chain.”
2. Virtualization
The crypto KOL explains that this aspect is about virtualization about creating virtual assets and services and the digital ecosystem. Therefore, Lukso maps physical commodities to virtual networks through “digital twin” technology.
3. Tokenization of asset
The third aspect of Lukso is the tokenization of assets. This is based on the concept of digital collectibles.
4. Value proposition
Lukso allows developers and artists to display their digital lifestyle and build tokenized Communities. It can be from NFTs they possess, limited edition products from major brands, or even collectibles of great value.
“Lukso has successfully conducted sales of some unique NFTs. The latest one is Lambada Dyed Red White Blue, and it has caught the attention of industry heavyweights like Vogue Magazine,”
The crypto KOL says that it is the relationship between buyer and seller that starts with buying the asset in Lukso, while in the traditional world, it’s the end: “This is the new wave of innovation we are about to see with the launch of the LUKSO mainnet in Q4 of this year.”
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