- Faith Tribe (FTRB) brings together global community designers, artists, bloggers and brands.
- FTRB pegged its token price to Faith Tribe’s physical clothing.
The crypto world continues to be acknowledged by different industries around the world. This time, Faith Tribe (FTRB), a network that brings together global community designers, artists, bloggers and brands introduces a new concept that enables their native token price to be pegged to the value of a clothing item.
The feature of the network is similar to the stablecoins in the market that are pegged to gold and dollars. However, the network pegged its token to Faith Tribe’s physical clothing. In addition, all Faith Tribe products created will be quoted in FTRB which made the product price remain the same. In this way, the price of the merchandise will not change as it did originally even if the price of FTRB surge or dive in the market.
Faith Tribe (FTRB) is the DAO project of Faith Connexion, a Parisian luxury fashion brand that is making an entry into blockchain. The Faith Tribe aims to empower the individual designer or artist to create, mint and sell garment designs as both NFTs and physical fashion items, all on one blockchain-based platform. It is also the first fully decentralized and community-owned ecosystem for the collaborative creation of fashion items.
The FTRB token can be used to make transactions such as purchasing items of clothing and any physical products available on the Faith Connexion using $FTRB.
On the other hand, pegging the price of a cryptographic utility token to an item of clothing provides a different element of stability. Faith Connexion’s innovative approach is expected to inspire many in the world of decentralized finance and NFTs. Potentially, projects like Faith Tribe could cause a ripple effect or trend where more projects will put safeguards in place to ensure their communities can still benefit from their tokens, regardless of its price.