Digitalax — taking digital fashion to new heights
Composable NFTs, timed auctions, FBX assets equates to a digital fashion moonshot 🚀
We at BlockRocket have been building NFT platforms for ourselves and others since before ERC-721 was even a ratified standard. When Emma approached us with her vision of the future of digital fashion it was an opportunity we could not refuse.
Digitalax has embarked on building a complex and innovative set of products which will power the future of digital fashion within gaming, the metaverse and web 3.0 as a whole. Setting out a roadmap to engineer a new set of primitive building blocks which can be used to achieve a broader goal of pushing the digital fashion space to new heights.
I wanted to give a high level breakdown of the some of the cool and innovative things we have been delivering in conjunction with the rest of the Digitalax team.
Digital supply chains + composable NFTs
NFTs typically come in two flavours, non-fungible tokens such as ERC-721 tokens and semi-fungible tokens in the form of ERC-1155 tokens. But what happens if we bring these two standards together to create an even more powerful token primitive in the form of composable NFTs? This is what we have designed for Digitalax.
Imagine being able to add additional value to your 721 tokens in the form of other 1155s, imagine if these 1155s tokens could be backed by real world assets and/or other types of cryptocurrencies. Now image if you then could enable a digital supply chain of semi-fungible materials with limited and known scarcities which can be combined together to produce the most spectacular of master NFTs… Well look no further — Digitalax has made this possible.
We have used the draft standard ERC988 as a starting point to build a top-down composable NFT which can be combined with other 1155s from the Digitialax materials supply chain.
Unfortunately currently there is no final composable 721 <--> 1155s token standards to work from so hopefully in the future we will be helping define what this would look like.
In summary, this adds another dimension to what it means to collect and own a single ERC-721 NFT token.
When a digital garment (ERC-721 parent token) is created on the Digitalax platform, this garment can have several 1155 tokens embedded within it, the owner of the token is also inherently owner of all child tokens held within. Crucially in this design, the owner can only get access to the child tokens when the garment is burnt 🔥. Locking internal tokens can potentially drive value and scarcity into the item. Owners can optionally top-up and add more 1155s to the parent token.
In the future these garments will not only be amazing in-game or metaverse assets but also hold tangible assets. We think composables are one of the next big things in the NFT space and pleased to see Digitalax pushing their usage forward.
Auctions + marketplaces
BlockRocket helped deliver the successful Genesis NFT auction smart contracts and consultancy that raised a total of $150k in funds; this consisted of a limited number of Genesis NFTs which could be bought over a set period of time, each buyer choosing how much they contribute, the more contributed the greater the reward in the coming stages of the project.
With the marketplace launching last week, digital fashionistas can now bid to collect some of the world’s most exclusive and high fashion garments.
Winning bidders taking home not only the collectable token but also getting access to the raw FBX file to import into their preferred metaverse and/or gaming universes along with several other associated items.
Whats next?
Soon the $MONA ERC20 token will launch and along with an additional set of DeFi powered tools for a on-chain digital first fashion world.
Alongside this a synthetic vault will emerge for powering composable NFTs which can then used to build and embedded value inside each digital garment, powering the next wave of innovation in this space. Imagine minting a token backed by Bitcoin or gold instantly enhancing a digital garment’s underlying value
As Ralph Lauren once said:
I don’t design clothes. I design dreams.
Reach out to us at BlockRocket if you have smart contract needs or want help building the future of commerce with decentralisation.
Website: www.blockrocket.tech
Email: hello@blockrocket.tech
Twitter: @blockrockettech
