Web3 Fashion | Wear Without Permission + Fashion Loot
The fundamental problem with the digital fashion industry, and in fact, fashiontech in general, since the industry became an “industry” is that there has been no way to integrate the value layer. Business models have failed because the generation and transfer of wealth has had very high friction, barriers and conclusively been under the control of third parties.
The global independent designer market couldn’t overcome the cold start problem. Freelancing has been their only channel and even that just traps them in a hamster wheel with the hope of an eventual lottery win as they keep hearing about how fashion in gaming and the metaverse is going to be massive.
DIGITALAX started to literally shake this all up.
By taking a web3 native approach through crypto, NFTs and DeFi to directly integrate the value layer with every part of what it means to create metaverse ready fashion; digital and IRL.
What’s special about fashion is that it gives us superpowers. It is the full set of all tools that we wear. And, in web3, it’s more than the materials your apparel is made of. The programmable interoperability of personally secure entirely networked identity, capital, creativity and more. Now we have a seamless exchange of value in the form of NFTs.
And with that new mediums for creative people to express what digital and physical fashion can be, provide more value to the buyer and create entire decentralised communities of interaction spread throughout the world. It all becomes so obvious in retrospect.
Backed by NFTs, fashion can now have meta-utility;
- Unlock experiences and events
- Gaming wearables
- Esports access
- Wear to earn
- Outfit recharging
- DeFi IRL fashion yield farming
The possibilities are truly permissionless.
And the most important part is how web3 fashion serves as a wealth catalyst and escalator.
Fundamentally, fashion can now become fully composable from a root level. These fractional components can be split across; Pattern, Texture, Flare, Colour, Lines, Shapes, Form and Element— allowing for a shifting of relationships with your variety of identities into the environments you wander through.
Being able to generate wealth from initial seed to life changing moments in such a short time has never before been possible. What we are seeing in NFTs today, and especially more recently with Loot brings us just another step closer to a fully composable metaverse where free mints turn into billion dollar ecosystems that are shared by those that make and mod it faster than Elephant Toothpaste comes out of a world record breaking stunt. We like the toothpaste.
But seriously, stoking and drawing attention to mod culture is so important to all of this. When ESPA launched back in February 2021 we were almost solely focused on just the modding community. When everyone was talking about the AAA games, if you’re gamer of any sort you ultimately know that those games have only come about due to modding. This is the backbone to the industry and the novelty and vitality within it. That’s why we launched Among Us casual esports within the mod community, did so with Minecraft, and are continuing with the upcoming launches from September onwards.
In fact, this is one of the components that is so appealing about Loot— it’s so easily moddable, and provides a real reward path for culture modders of all kinds. This is ultimately what web3 and the metaverse is all about.
So, with DIGITALAX and the Global Designer Network positioned as we are, I can’t wait for the launch of LOOK and bringing composable metaverse fashion through free mints to all. Choose your look and wear without permission.