With Web3 Fashion Week around the corner we will soon be sharing the exciting schedule and jam packed content releases. This is a pivotal moment in not just the Web3 Fashion movement, but for web3 as a whole. It may not be obvious to people without native experience of fashion as an industry, lifestyle, or personal obsession, but this is a foundational moment in web3 history.
The new capital of fashion isn’t Milan, Paris, or New York. It’s the metaverse. Here, anyone can become elite. Doesn’t matter where in the worlds you are. And Web3 Fashion Week is the kick off this era.
It is almost shocking to think about, never in the history of fashion have the most discerning and passionate buyers been able to connect and mix directly with the countless most talented and extraordinary designers and creators, that are too often kept under lock and key by the traditional fashion industry.
This week includes it all. Fashion x DeFi x NFTs x PFPs x In-Game Utility. And of course, the the on-chain launch of our star attraction: The Global Designer Network (GDN).
These radical fashion anarchists have dared to come together, while maintaining self sovereign independence, to disrupt the entire fashion industry as we know it and create greater wealth for all of web3 in the process.
All designers are releasing digital and physical couture fashion NFT drops across the DIGITALAX marketplaces for everyone to join in for a high fashion shopping spree. We are merging some of the biggest markets, where all fashion NFTs will be DeFi stakeable, have in-game utility and collectible components.
However, the highlight of the week is the GDN Endowment Auction which will launch on August 23rd and finish at the end of the week on August 27th.
60% of proceeds from this Auction will go to the GDN DAO treasury as the network moves completely on-chain and leads up to the launch of the $GDN governance token.
This is not just another DAO as a mechanism. We live decentralisation as a movement.
It is unavoidably political because the creative renaissance, long promised by comprehensive global connectivity, isn’t just a nice to have for people whose lives and livelihoods depend on our creative skills. It’s all too real. This DAO isn’t just a quick way to raise floor prices, shill a new collectible or be an investor social club with a fancy new label.
This DAO is revolutionary without remorse. Every member is coming together, whilst maintaining sovereign independence, to outcompete the old industries and practices. Goodbye tradfash 👋 Hello real web3 metaversal fashion.
The DAO treasury will be responsible for actively growing and building out the network’s reach, distribution and impact through;
- Buying virtual land to build out storefronts, galleries and event spaces in digital environments for connecting buyers with GDN members through these new mediums for decentralized discovery, commerce and exchange.
- Hosting and producing broad market reaching events, like Web3 Fashion Week, for growing the broader web3 fashion industry.
- Attracting and supporting new designers as part of the network.
- Other initiatives consequential to the acceleration and maturation of web3 through fashion; i.e. digi models, enhanced DeFi utility, wear to earn, cross game avatar self expression, overturning centralised powers etc.
The $GDN token is being implemented under a flexible phased release tokenomics structure, in order to best accommodate new designers entering the network at this early stage and also to ensure fair distribution not merely at launch but also for the long term. The token will be evenly distributed across all designers and used in total for DAO governance i.e. snapshot voting. The mechanics of the second phase DAO tokenomics will be decided on vote by the DAO, where the introduction of a utility token will be considered in depth as more products and services are built out and then offered to the broader market by the GDN.
With all the talk of the moment focused on looking back to DeFi Summer a year ago, a year from now we will see all of what has happened in DeFi, NFTs, DAOs and web3 fashion for what it really is. The metaverse is eating the world just like software did before it.
But it’s more than a phenomenon, it’s the people driving it. You can be one of those by joining us for Web3 Fashion Week and the Global Designer Network DAO Auction this August 23rd- 27th.
I’m truly proud of every designer walking this path alongside each other. Long live the Web3 Fashion Revolution!
….. it’s really just begun.
