Digitalax – the digital fashion marketplace

This post was originally published on Minedhash

Digitalax is an innovative new platform that aims to capitalize on the emerging digital fashion marketplace.

Thanks to recent advances in blockchain, VR, gaming, and 3D technologies, the digital media scene is booming right now.

Furthermore, the combination of digital media and NFTs is having a profound impact on the digital world.

NFTs are perfect for digital items. They ensure verified ownership, guarantee scarcity, and allows for asset interoperability across multiple platforms.

In short, this creates endless possibilities for digital fashion content creators.

What is Digitalax

Digitalax is the first digital fashion NFT auction exchange platform and aims to be the digital fashion NFT house for all gaming, VR, and metaverses.

biswap

A one-stop fashion shop for all your digital fashion needs.

Features of the platform include:

  • Digital Fashion Rarity and Exclusivity: Programmable Scarcity.
  • Native Digital-Fashion Pricing Frameworks
  • Designer and Developer Collaboration Channels.
  • Stable NFT Wrappers.
  • Synthetic NFT Contracts.

As you can see, Digitalax opens up a world of possibilities for digital fashion designers, developers, and consumers.

In addition, Digitalax’s designer and development channels help to ease physical fashion designers into the virtual world. And, in doing so, introduce designers to a whole new customer base.

Hence, the goal of Digitalax is to facilitate the emergence of a global digital fashion marketplace with the potential to unlock new digital economies worth billions of dollars.

Why digital fashion?

First of all, fashion is a core industry that has been around for thousands of years and infiltrates every layer of our everyday life.

Moreover, with the global fashion industry expected to hit a net worth of $2.25 trillion by 2025, a sizable portion of that is expected to flow in the emerging digital fashion marketplace.

And, whilst digital fashion is still a relatively new market segment, it has the potential to revolutionize the fashion industry.

In fact, you may be surprised to learn that people are already spending billions on virtual clothes. Digital accessories such as gaming skins and avatars are already big business and have spawned virtual in-game economies worth billions of dollars.

For example, the extremely popular Fortnite game makes the majority of its $2.4B revenue through selling digital items such as skins and avatars.

ESPA Esports

ESPA is Digitalax’s gaming community focused on digital fashion. Moreover, it is the first Esports platform for independent developers, modders, designers, and gamers.

Players can log in to the digital ecosystem to play their favorite games and at the same time, designers, brands, and creators can engage with and monetize off the community.

Esports Mode

Players who have purchased a design from the Digitalax Marketplace can participate in Esports mode.

The tournaments consist of battles that take place at regular intervals and players have the chance to win ESPA skins and $MONA rewards.

Practice mode

Anyone can participate in practice mode. All they have to do is register and made an account on the Digitalax marketplace.

Players can then participate in battles with or without skins, however, they cannot win prizes.

Digital Fashion Operating System

Digitalax implements an optimized smart contract architecture know as the Digital Fashion Operating System (DFOS).

The Ethereum powered system is highly scalable and geared towards creating a self-sustaining economy for virtual fashion items.

The architecture consists of three layers

Authenticated and Tracked Digital Content Supply Chain

Native is the first layer of DEFOS and leverages a number of ERC protocol standards to create an optimized digital fashion NFT content supply chain.

As a result, the transparent ledger verifies all transactions and acts as immutable proof of ownership and rarity.

In addition, creators and designers also benefit from brand recognition through meaningful records and showcases of their designs.

Application-Specific Interoperability Channel

This layer aims to tackle the biggest fundamental bottleneck to unlocking content creation value.

This is the ability for 3D model files to interact directly with specific applications and the gaming environments in which they are deployed.

Digitalax tackles this issue with a new file intercommunication format that consists of a wrapper
constructor for prominent formats and an engine plugin. This ensures optimal rendering output and cross-platform interoperability.

Digital Fashion Economy Ecosystem

The final layer of DEFOS seeks to establish a global economy for digital fashion.

Digitalax believes to ensure the sustainability and longevity of digital fashion content. And, for this reason, the layer promotes an interdependence approach in which designers, creators, and players, have a defined role within the digital economy ecosystem.

Central to this approach is MONA.

digital fashion accessories

What is MONA coin?

MONA is the utility token that connects all participants within the Digitalax economy.

First of all, developers can use MONA to promote their games and creations by purchasing a featured display spot on the platform or by running competitive competitions with prize money backed by MONA rewards.

At the same time, players are also incentivized to accumulate MONA by performing well in games. And those who meet certain thresholds of MONA can use their tokens to gain leverage within the ecosystem.

For example, players can choose to either stake their MONA as an in-game skin or use their tokens to be eligible for sponsorships by fashion brands participating in the Digitalax marketplace.

When it comes to sponsorships, selected players receive a MONA denominated over-collateralized loans. These loans have certain conditions such as requiring players to purchase digital fashion items from the sponsoring brand on the marketplace.

Furthermore, sponsored loans are not repaid with MONA but by performing well in games and enhancing the reputation of the sponsoring brand. Thus, giving players the opportunity to earn a living through gameplay.

Conclusion

In conclusion, it seems enviable that virtual gaming worlds are the next frontier in gaming. And, as technology advances and becomes more realistic, players are starting to look for ways to express themselves and stand out from the crowd. This is where the potential of Digitalax lies.

As we have seen from gaming skins and avatars, digital accessories are a huge business. And at this moment in time, no other project is as strongly positioned to become a market leader in the digital fashion revolution.

All in all, Digitalax is an innovating and well-rounded project that looks set to shape the future of the fashion industry.

The post Digitalax – the digital fashion marketplace appeared first on MinedHash Blocktech.

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