So, what exactly are Digital Product Passports and why did the EU regulate that all textile products sold within the EU soon will need to have them? Let's dive in!

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1. Simply put, a Digital Product Passport is an electronic record that contains information about a product. This data will primarily be sustainability data, meaning the electronic record will provide information about the environmental impact of the product to allow customers to make more informed decisions and ensure brands are fully transparent.

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2. But what does a Digital Product Passport look like in practice? Basically, it's just a QR code attached to a product that leads to a webpage that looks like that ↓

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3. So, is that all? Well, yes and no. If your goal is solely to comply to the EU regulation, this would be enough. However, there are many ways to benefit from this new, regulatory requirement. Take a look at this infographic to learn more ↓

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4. So, how is it all possible? Don't worry, I won't bore you with the technical details. Let's just take a look at the familiar webpage below and the "claim ownership" button ↓

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5. Once someone purchases your item and scans the QR code, they will be able to claim it as their own. As you can imagine, they do this by clicking the big blue "Claim ownership" button. Next, they will be prompted to set up an account as below ↓

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6. Once logged in they will be able to see all their products. In this case this is Joanne with her yellow jacket ↓

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7. But why would Joanne care to do this? Well, there is a lot of reasons why. Primarily to be able to prove the item is authentic when she sells it second hand. Transferring the ownership is really easy and only takes three clicks. However, a lot of brands are launching circularity initiatives where they incentivise to recycle their products or sending them back to them. In return, the owner gets a discount for a new purchase and the brand ensures their products do not end up in a landfill. This is the primary purpose of the "Circular economy" the EU is creating.

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8. So that's everything about Joanne. And what about your brand? You gain direct access to all product owners, including the second hand owners. You see everything that happens to your product post-sale, including location and much more. Here is an example of how your dashboard can look ↓

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This basically concludes it. You should now know all there is to know about product passports. Just kidding, this is just a starter. But since you will need to implement them pretty soon, it's always better to start early. You can contact us by clicking here.

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The opinions expressed in this blog post belong to the individual or individuals authoring the blog posts affiliated with More Metaverse PSA and do not necessarily reflect those of More Metaverse PSA. Product Pass is a More Metaverse PSA service. This content is intended for informational purposes only and should not be construed as business or legal advice. Please consult your individual partners or advisers or contact us so that we can advise you where to receive certified legal advice provided by appropriate entities on matters related to the blog post above. We do not offer investment recommendations or legal advice. This content is not authorized to be treated as a reliable source of information for any prospective or current investors. It is also not authorized to be treated as a reliable source of information for any prospective or current clients of More Metaverse PSA. We rely on professional legal advice from regulated law firms when working with our clients, this resource is informational only. More Metaverse PSA has not independently verified this information and makes no guarantees regarding its accuracy or suitability for any specific purpose.