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Token Ecosystem & Utility
We often describe DIGITALAX as the cityscape for Web3 Fashion, and, $MONA token is the core governance and value anchoring token for maintaining the ledger of activity for the decentralised goods and assets generated through the core infrastructure within this ecosystem. $MONA exists for igniting primary activity within Web3 Fashion and holding and routing its value within the cityscape.
Governance voting for DIGITALAX DAO. Staking for $MONA and other web3 fashion ERC-20 yield. Value conduit for payments on DIGITALAX Fashion, Skins, Drip, DIGIFIZZY Marketplaces. Income stream and reward payout in ESPA Esports tournaments. Additional token rewards from market activity for token holders.
These NFTs establish raw containers of value around all fashion generated through the DIGITALAX ecosystem. They allow us to ensure that we are truly advancing web3 principles with and embedding web3 functionality in our fashion.
The Fractional Garment Ownership 1155 NFTs are what guarantee that fashion generated through the DIGITALAX protocol stack is truly on-chain, provernance based, transparent and decentralised down to the most modular components; the pattern, material, texture level. They are included as a balance in each of the Fashion NFTs, forming the variant ERC-998 standard.
These specialty realm NFTs are bought by patrons who directly select which designers, labels and realms they want to champion— completely resolving the age old cold start problem. Every realm comes with three patronage tiers for the mini, mid and max buyers.
A federated model of countless DAOs learning from and mutually assisting each other through hypergrowth network effects for collecting and bringing liquidity to the new luxury and decentralised fashion economy.
The PODE NFT serves a comprehensive and pivotal turning point for addressing the underlying problems in gaming, as well as providing the foundations for building the first decentralised version of an instant distribution platform & incubator for how indie game devs get from initial concept through monetization to launch and scale: The Player Creator Portal (PCP), where native web3 and crypto components serve as key incentive conduits into the metaverse.
$DECO is accepted by default as a de facto utility for in-district curation, cultivation of land capacity, and decentralized commerce in each Wayfarer’s District. By extension it is also used to reflect the relative rank & classification of the realm they inhabit within the Player Creator Portal.
Global utility ERC-2O token, $DLTA, which is used as a general and cross-guild appraisal reaction for NFTs that are staked on a guild for appraisal i.e. $DLTA does not define a holder as a member of a specific guild, rather it provides a holder with meta system participatory utility. Holding $DLTA is also one factor in the multi-factor set of criteria which qualifies a guild member for the meta DAO, allowing them to unlock governance rights. For governance participation in the meta-DAO see the section DAO. $DLTA is distributed through both initial guilds launching through DLTA with their own guild specific ERC-20 tokens are able to farm an allocation of $DLTA before it’s on-chain launch in recognition of the economic activity and value generated by them as genesis members and also further yield distribution as more guilds are onboarded into the system.
LOOK, the web3 fashion version of Loot, is taking the bottom up approach, whereby you as the collector and holder help create the full extent of what can be done with it. And there is no ceiling or floor to just how far that can go. It might seem like some spacey new wave out-there idea. But just 12 months ago, how many people believed in NFTs? 18 months ago how many people believed in DeFi? This world moves super fast, and that’s only being accelerated, and Loot style projects aren’t any different. They are bringing us closer to the bare root of how we build the open web3 metaverse. Composability here is the key. It’s a factor and function of the simplicity of on-chain provable text based elements that feed into combinatorial code in ever evolving ways. LOOK is the source code to what you can wear. Some might even say it’s the Meta Source.
Distributed to all LOOK NFT holders with on-going surprises as more derivative projects are brought forth and explored under LOOK.
Through DIGIFIZZY we have also proved out a completely new publishing model with NFT based decentralised unlockable content. Some content creators, featured in the magazine, also create NFT metadata that DIGITALAX mints on Matic Network, contributing across these NFT based unlockable content bundles— from art to digital fashion to music to collectibles to physical to in-game items. Readers can purchase these unlockable NFT bundles across 3 degrees of exclusivity; common, semi-rare, exclusive; that brings together a mix of well known and upcoming, undervalued talent. Injecting our unique DIGITALAX flare, these unlockable NFT bundles are minted under our ERC-998 variant standard. A buyer purchases the parent ERC-721 NFT that owns the collection of variant ERC-1155 content mix. This allows for the bundles to be transferred with all of their content in one transaction. However, when a buyer then wishes to individually access any of the 1155 NFTs in the collection they burn the master 721, cracking open the magical goods, like a giftbox inside of an Easter egg.
To pay homage to the often overlooked lionhearts within the web3 community — the devs — we introduced Web3 Wizards; an ongoing series of on-chain NFT web3 dev characterisations; spotlighting new devs every DIGIFIZZY issue, all designed and minted in-house by DIGITALAX. The Web3 Wizards are part of our Exclusive rarity level for the DIGIFIZZY unlockable NFT content for anyone to purchases as an unlockable 1155. Each spotlighted dev is also sent an ERC-721 of their designed wizard on Polygon Network.
The GDN DAO has it’s own hierarchy, whereby all new members onboarded in are first represented on-chain through being sent their official GDN Membership NFT. This gives them access to the private Web3 Fashion discord server and allows them to start contributing to the DAO + receiving first tier benefits i.e. free minting access to the DIGITALAX Marketplace, inclusion in featured events/drops, dedicated designer profile accounts + support from DIGITALAX infrastructure etc.
The second tier, which all GDN Membership NFT holders have access to, is the ability to earn the $GDN governance token through the weekly contribution quests. This token can only be claimed by GDN members as they actively contribute to the DAO, furthering their own and the DAOs value and expansion, as well as maintaining a high signal to noise ratio. This is not something that is automatically given out to DAO members, it is only granted to those that are actually active as DAO members. For example; running community calls, launching projects, contributing content, onboarding new members etc. Once holding $GDN, members are able to access private discord channels, as well as submit and vote on DAO proposals.
A liquid tradeable token will also be launched under the GDN DAO, whereby this token, $W3F, will grant holders access to unique NFT airdrops, access to events and other web3 native products and services brought forth by the GDN DAO. With DIGITALAX a closely aligned to-be-DAO, DIGITALAX ecosystem holders (i.e. $MONA, Genesis MONA NFT, PODE, LOOK etc.) too will have an allocation of this token on initial snapshot and so be afforded the same $W3F utility and the ability to vote on tier gated proposals that cover particularly those parts that cross-involve designer operation.s. $W3F is not live yet.
10% of the total supply will be allocated and minted to the DIGITALAX (5%) and Global Designer Network (5%) Treasuries