LAS VEGAS, March 10, 2022 /PRNewswire/ — Nitches Inc., (NICH) (the “Company”) which blends high-tech with high-end fashion to create exclusive apparel collections and NFTs, today announced its industry-changing Owner Verification System (OVS™) mobile app called “NITCHES OVS” is 100 percent completed. Nitches has successfully submitted the NITCHES OVS app to Apple iTunes (iPhone) and Google Play (Android) stores. It should be available later this month for buyers who purchase products from stores registered with Nitches. NITCHES OVS is a application (app) that can be used to prove ownership of Nitches’ luxury products, apparel and streetwear clothing items.
Nitches developed the NITCHES OVS to show the authenticity of its limited-edition capsule collections and NFTs (non-fungible tokens) that are created with well-known celebrities and influencers. To reduce costs on Ethereum gas fees, Nitches minted its NFTs on the polygon blockchain network. Polygon is faster and less expensive for transactions than Ethereum.
Nitches plans to provide its NITCHES OVS to other businesses that want to protect their products, apparel and clothing from counterfeiting. According to Ghost Data, about 20 percent of fashion products advertised on social media are fake.
“For decades, luxury designers have been struggling with counterfeit products, costing buyers and sellers billions of dollars,” said John Morgan, Nitches’ CEO, “Our NITCHES OVS and authentication technology could revolutionize the industry by putting an end to counterfeiting and allowing consumers to demonstrate their items are genuine.”
To enable its verification technology, Nitches sews a unique QR code into the items (products, apparel and clothing) it manufactures. Buyers scan these codes to register their products on its NITCHES OVS app to authenticate them and claim ownership. Therefore, combating counterfeiting and proving their item is authentic and the real deal because it can be tracked and is registered on the NITCHES OVS app.
Nitches is a diversified technology company, designer and manufacturer of high-end merchandise that blends high-tech with high-end fashion to create exclusive clothing lines and NFTs. Nitches is a high-end clothing and accessories company that specializes in creating limited-edition athleisure and streetwear apparel that are sustainable, authentic and exclusive. We collaborate with fashion-forward influencers and celebrities to create capsule collections that reflect their vision and brand. We developed innovative technology to protect our intellectual property and prevent counterfeiting. We strive for creativity, excellence and value in all that we do for our collaborators, customers and stakeholders.
Forward Looking Statements:This press release contains forward-looking statements. The words “believe,” “may,” “estimate,” “continue,” “anticipate,” “intend,” “should,” “plan,” “could,” “target,” “potential,” “is likely,” “will,” “expect” and similar expressions, as they relate to us, are intended to identify forward-looking statements. The Company has based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy and financial needs. Some or all of the results anticipated by these forward-looking statements may not be achieved. Factors or events that could cause our actual results to differ may emerge, and it is not possible for us to predict all of them. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.
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