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IOTA Now Partners With Luxury Giant, Surges By 20%

Directed Acyclic Graph project IOTA (MIOTA) has announced a partnership with global manufacturing company Avery Dennison with the intention of creating a more sustainable and ethically-sourced industry, The Block reports.

The first trial will occur with luxury brand ALYX and lets customers track items along the supply chain. The report reads,

Brands and consumers can know that the information they are being shown about the garment’s creation process is 100% accurate and can be trusted implicitly. This is a watershed moment for improving brand transparency and trust.

Debbie Shakespeare, senior director of sustainability and compliance at Avery Dennison, said of the collaboration,

Brands and consumers can know that the information they are being shown about the garment’s creation process is 100% accurate and can be trusted implicitly. This is a watershed moment for improving brand transparency and trust.

IOTA, like many other tokens, is currently doing well in the market, with its price hovering at $0.43 at the the time of publishing and growing roughly 14% over the past week.

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