The major goal of every business is to make a profit and add value to customers. Jewelry brands can achieve these two things by integrating fashion with quality and modern technology. The crypto space offers luxurious jewelry brands a better platform for this integration via tokenization. It gives brands access to special pricing methods, to be represented on the blockchain with limited edition and assigned redeemable tokens.
As the world moves toward tokenization, various platforms are taking steps to the next level by adding value to real-world assets such as jewelry and precious metals. DESIRED is one such platform that has created an exquisite collection of Bitcoin-inspired gold rings called Diamond Hands. Every piece of this ring is assigned a utility token, In Bitcoin We Trust, IBWT. The company took a step further to restore the value and trust in the jewelry industry using a special pricing method known as the bonding curve.
How Can Jewelry Brands Benefit From Special Pricing Methods?
Diamond Hands was created to overcome the problem of poor quality jewelry designed from machines and mass production. Its special pricing method can be adopted by other luxurious jewelry brands. This backs up the company’s philosophy that every piece of jewelry holds greater significance than an ornament and must be unique and pure.
The pricing method alters the market forces that enable price to be controlled by the demand. In this case, supply determines price such that price goes higher as supply increases. Price increases by 6 percent each time a purchase is made.
The bonding curve pricing method states that if you buy tokens when the supply is low, you will pay much less than when the supply is high. If you buy when there are already a lot of tokens in circulation you will pay much higher than you paid when the supply was low.
