DIGITALAX creates digital fashion ecosystem with NFTs

0:19revolutionized by blockchain and cryptocurrency right now and your team is at the forefront of it and i would love for you to start off by just giving the audience a bit of an overview and the focus of digital acts in the platform sure yeah so i like to describe digital x as a digital fashion operating system it's very multifaceted with lots of components but

0:41to give a bit more of the breakdown so we started out as a nft marketplace for digital fashion so the first one that launched last year around september and this allowed digital fashion designers to come and upload their garments and designs on our platform as nfts and we had a lot of sales around that were really successful with over about 600k in sales to date

1:03in that area and it was this whole idea of okay how do you build out a digital supply chain for digital fashion so we brought in really cool concepts around fractional garment ownership so it was all about injecting open source into the supply chain and allowed designers to come on and issue independent materials patterns and textures that then could be used by other

1:21designers in their master garments and the different erc protocols for nfts on chain allow this whole our royalty and profit distribution and new ways of licensing so we started like that but then the next stage was always about how do you actually bridge this into application and utility which gaming at esports is a really big part so this is where we launched the

1:44second part of our project espa and that's the first indie and modded esports platform so it allows players to come on our marketplace purchase these skins and then take them into different gaming vr 3d live content environments start playing and they actually get a score in a leaderboard when they play and get paid out in our native cryptocurrency for

2:04getting on that leaderboard so it's this whole ecosystem between designers developers players where there's profit distributions amongst all of them for the sales in our marketplace i'll stop there's kind of a lot more to it but they're the key parts yeah i know that's great emma jane and the nft marketplace obviously that's something that's been super hot

2:24right now and digital fashion is something that in the in the beginning of nfts we saw that you know the gaming industry was sort of the inception where you can buy skins you can buy armor weapons whatever it may be and to allow ownership of those and then to add that special flair with a fashion that's great and now you've expanded that into an operating system which i'm guessing

2:48that has a lot to do with the supply chain could you talk about what makes it different in terms of the supply chain and i guess creating textiles and just creating raw materials and how that really benefits the digital fashion industry yeah sure i mean i guess to kind of give a little bit more history and background digital fashion that kind of subset it

3:09all spawned out of sustainability so fashion the traditional fashion like physical textile industry is completely wasteful i think it's actually the second most wasteful in the world under oil so yeah there's a lot of kind of caveats to that and there's a lot of exploitation this supply chain so digital fashion was actually created so designers

3:29particularly in the prototyping stage they could experiment with different styles looks textures without having to just kind of mock up different designs and then completely throw them out and have all this waste so that was really how it started and then from there it moved very much into like the advertising realm whereas digital fashion studios popped

3:48up and it was really the case of like okay getting hired as like independent contractors for brands and then the 3d models would be used for the fashion in different advertising purposes but when i started you to tell x it was really looking at from the purpose of okay the metaverse is something that we talk a lot about a lot and given kind of where we are at

4:08digitally in society it's really already here and it's inevitable where it's going and so if you think about that and then you think about okay how ubiquitous fashion is within just where we are today it's kind of a very obvious parallel that makes sense in terms of those two combining and then digital fashion very much becoming ubiquitous within

4:29these native digital environments so that was really how we started with things and yeah it just kind of took on from there looking at okay what are the different components that we need to translate into this digital environment to start creating an ecosystem where designers can come in brand studios and they can really start earning a livelihood

4:48from their career in digital fashion and start earning that job kind of monetary value as well from that and so the supply chain is a really big part and how we structure this was looking at well we can use native nft erc protocol standards particularly that of 1155 nfts and 721 nfts and then use this to track on chain down to a very modular level

5:14the different creation process and design process within digital fashion so how it works in our platform is designers can come and they can actually issue or artists creators individual patterns and materials as erc 1155 nfts that are then tracked on chain and then another designer can come and they can pull from this open source on chain library

5:34of patterns materials and textures and they can incorporate that into their master garment design and then what that means is when that master garment is sold the 1155 contributors from the pattern material and textures they can actually get royalty distribution and kind of a new licensing model under that as well and we were actually pioneered the first

5:53erc 998 variant contract so that's where on chain actually the 721 nft it actually owns a bundle of these 1155 nfts that we assigned to it based on the connection from the design point of view and this is something that very much links back to the sustainability point of view is how we're pioneering to bring more creators into the space and more distribution access

6:14channels and with that erc 99 variant we've actually created the first multi-token bridge from layer 1 main net to layer 2 matic network and back from there as well wow that's really cool and i totally understand how as a designer or creator to have your rights you know ingrained into your textiles and be able to have royalties on that moving forward

6:38automatically just through smart contracts is obviously very beneficial for the people at the beginning of the supply chain and i'm curious in there's so many aspects to creating these the supply chain getting into the end users into the metaverse when you were first creating this did you see a specific end user in mind is this really made for like

7:00investors other designers gamers just everyday people and how did you move towards that when you're advertising and marketing yeah good question look i would be very frank and candid it's been a challenge because really what we're building at digitalx it's not like a business model in a sense or a typical just business or project we're really building out an

7:21entire ecosystem and often i get asked that question okay well there's so many components to what you're doing how do you kind of have them all come together and how i describe it is really within the ecosystem there's certain fundamental pillars structures keystones whatever you want to call it that has to be built out in order for the kind of implementation side of what

7:42we're doing to really make sense because if we were just going to be building a marketplace that's very much then just focused on the speculative side the you know purely cosmetic side and with fashion and then when you think about okay if we're really going to be pioneering the fashion industry and like i said actually start creating economic value

8:01and job creation livelihood creation through this then it's really important that application side there is exists that there's this way to be able to concentrate and drive the market activity into these environments and so when you ask about who it's for well in terms of the ecosystem that there's a lot of stakeholders within that so of course a

8:22large focus is the digital fashion side and that exists and is made up of creators designers brands studios and then we also have the development side which is very heavy on the gaming and modding fronts so from that it's modders it's game developers it's game studios and publication houses and then also the players so from that you have you know a whole range

8:43from amateur to pro and this is really what our esports environment escala is all about it's about leveling players up in the industry from amateur to club pro and having the skins is a really key part of their identity and the way they functionally use them in our ecosystem there too and then being in crypto of course there's you know a lot of other stakeholders within that

9:02Purchase the token and hold it for different reasons and yeah our token as well has a lot of a governance stake and application within that as well so that's another kind of i guess market participant or stakeholder within there too definitely yeah there's a lot to that and i'm glad that you mentioned that the mona vale token i would love for you

9:22to expand a little bit on that for the people that are just interested in you know they understand nfts but there's also this fungible token i'm guessing it has governance functions can you just talk about the whole ecosystem and how that mona token ties into that and does it create a sustainable ecosystem for the participants as well yeah no really good question

9:39so mona that's the core erc utility token of our platform and it's really a customized incentive for the entire ecosystem and that's a good question that you ask you know does it really have utility does it actually drive sustainability this was a really cool part of us building in web3 and crypto because often i get asked that question a lot it's like okay

10:01well why why did you need to build in you know on ethereum or any chain for that matter why why crypto why decentralization why web3 well apart from it you know very much being the future which we can both agree on the amazing thing that i find about crypto is the whole idea of programmable incentives and how you can actually customize for a ecosystem the incentives around

10:24that and the liquidity and how do you actually drive sustainability across all the market participants and what does their role kind of feed into that so within our ecosystem mona as i said it's the core utility and what that looks like it's used as the kind of purchasing power on our marketplace so players they come on they use mona to purchase these skins

10:43and then this is also what is distributed amongst as the income stream amongst the designers that are uploading and kind of i guess distributing their fashion on our marketplace too and then also the developers and the modding ecosystem that is actually taking our skins and garments into their games and accepting it within there to be part of this extra utility within

11:03the esports tournaments so it's very much that side but then also the additional layer is the governance so the mona token also has governance rights within espor and digital x and we're very much on a path towards progressive decentralization with that and yeah because i guess we're pioneering so many pillars we can't just kind of you know throw

11:24the private keys away and say okay everyone just come in and vote wherever we really have to keep it on a stronger roadmap to get to a stage where then eventually the whole ecosystem will have that sustainability with this equilibrium between the designers the developers and the players and then also you know other stakeholders within that as well

11:43definitely and thank you for that detailed explanation emma jane and you mentioned developers there i'm curious about more information on the espa esports platform you mentioned there's developers there's modders it's also indie developers is this a whole metaverse where there's different kinds of games and people can just go in there and you know before actually purchasing

12:04fashion and start exploring into different kind of games in different metaverses yeah that's another really good question and to kind of back that up with more context i mean a really big challenge that a lot of people that they don't understand as well when they come into the space or you know it's not as obvious although it seems obvious is that

12:23Today the way the gaming industry and just 3d content industry runs it's very much siloed there's a lot of vertical gardens and you can't just kind of take your content into these different environments i mean that's both from very much the business layer but also the technical interoperability that's a huge challenge that exists also and a big barrier to when we think

12:44about okay how do we have seamless kind of transfer of assets within these native digital environments so we really looked at this from the aspect okay well how do we actually bridge a layer two into the solution so how can or into the industry sorry how do we actually create a layer two of utility that incentivizes these indie games these developers these

13:05modders these studios to plug into our ecosystem be able to gain access to web3 decentralization nft's blockchain and leverage off the market the security side the kind of future-proofing side of that without also having to go in and you know change all their code and then build on ethereum or build on another blockchain so that was a really big part and

13:27this was all what we looked at okay well how can we build an additional layer to that current in-game economy instead of us coming in and trying to say you know oh you've got to accept this which just doesn't make any sense how can we create this ecosystem on top that designers developers players they can actually plug into and then create additional value for

13:45themselves have additional utilities so espa it's an esports platform and it's focused definitely on the indie developer side and the modding ecosystem is that's really where we see the future of things going and kind of having i guess more of the support for the unseen creators in the space as well and what this means is that we partner with indie developers modders that

14:06have different game content and they plug into our whole sdk kit and this allows us to track the different leaderboard scores of the players in game when they're engaging in battle and then we put that on a melee leaderboard within espa and the players are authenticated through their nft skins that they purchase from our marketplace so it's this whole kind of ecosystem

14:25that when they're accepting this content as well they're also getting paid out for that from the distribution of profits from the marketplace very very cool and you mentioned that you started the nft marketplace you know last year and then you've been expanding with the supply chain and now espa where are you at right now with how involved players are already in the

14:45metaverse and then you know what are the next steps for you and your team in terms of releasing other versions or updates to the platform yeah good question so there's a lot going on i mean all the time we're upgrading a lot of the features of our marketplace and how we're tying this into espa and this is both from partnering with a lot of new content and

15:06games that we have coming out so we did among us mods about a month ago and we had a 171k which was super exciting because that changed a lot of the designers and devs and modders lives that were involved in that so that's you know a huge part of what we do as well is how can we actually impact people and yeah bring value to these these creators so we're partnering with a lot

15:27of games we have minecraft coming up we have roblox obvious we have cs go mods league of legends mods all coming up as well and that also is in line with you know building up a lot of the platform and the interoperability in terms of how a player or a developer designer actually interacts from a ui perspective from that side so really focused on that but also very

15:48much so on how we're building up more of the fashion onboarding side into our ecosystem because that's really a huge part of this is how do we actually bridge the traditional fashion industry into digital fashion and into also the hybrid digital physical realms in a way that makes sense for them because if you're a bigger brand you know if you're you're fendi or if you're

16:07a ralph lauren all that it doesn't make sense for you to just pack up all your resources and come in i'm sure you know there's the nft kind of salad drop component but there needs to be a way for these brands for these developers as well to be able to come in and really know okay what's my road map to actually earning a proper career out of this or a

16:25proper sustainable livelihood where's the market that i'm addressing so we're really focused on that as well as being a core infrastructure and protocol layer to fashion to gaming and how they intersect and with this we're actually launching the very first a hybrid digital physical nft fashion line and that's going live in a few days and then also a really kind of

16:45concentrated content magazine platform with new nft subscription sides where a lot of the bigger brands that we partner with are able to i guess distribute more of their their goods and their i guess yeah pathway into the ecosystem through that as well so that's also launching in about two weeks so yeah very busy just on all fronts that's very cool emma jane there's so

17:06many different aspects and that you're continuing to launch and some great partnerships it sounds like with a lot of popular games coming up so i think that could be a huge momentum push for you and your team so congratulations towards that for the viewers that are looking to get involved in either the esports platform the fashion and everything else that you're working

17:25on what's the best way for them to learn more and to get into the community sure yeah so we have a lot of content online we have our website that kind of brings everything together but our medium that's where we post a lot of our updates and then also i would say the core thing would be join our discord servers so we have one for digital x which is really updating

17:45of the whole ecosystem and then one dedicated for espo where we're running a lot of the tournaments out of and we organize a lot of the schedules for the tournaments out of there for the players and then partner with a lot of twitch streamers as well to have them stream to the discord there so yeah if you're looking to get involved i would say first thing is just

18:02go to our website join our discords and then we're more than happy to answer questions in there if you can't find what's needed on the mediums and even on youtube as well i will leave all those links in the description box below thank you so much for taking the time emma jane today it's a pleasure learning more about digital accent all the best with the operating system and esports

18:23platform moving forward and let's follow up in the near future great thanks session