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Polygon (Ex-Matic) Breaks Into Digital Fashion Markets with DIGITALAX Partnership

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Fri, 04/23/2021 - 12:00
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Vladislav Sopov
Polygon (formerly Matic Network) announces NFT-focused collaboration with digital fashion startup DIGITALAX
Polygon (Ex-Matic) Breaks Into Digital Fashion Markets with DIGITALAX Partnership
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Polygon (MATIC), a cross-DeFi project formerly known as Matic Network, announces an unusual partnership. NFTs minted on Polygon will represent physical garments by DIGITALAX.

Polygon and DIGITALAX issue a "hybrid" fashion line

According to a press release shared with U.Today, Polygon will empower DIGITALAX with an environment for minting non-fungible tokens that represent fashion objects.

Polygon partners DIGITALAX
Image via Twitter

DIGITALAX pioneers the "digital fashion" concept as its instruments create 3D objects accessible through VR/AR frameworks. The NFT channel is the backbone of its tokenomics.

Digital Fashion Operating System, a holistic environment for DIGITALAX objects, also includes a content supply chain and intercommunication modules. Besides the fashion segment itself, this concept is perfectly suited to gaming, e-sports and VR/AR scenarios.

Technically, NFTs by DIGITALAX should be considered Ethereum-like ERC1155 tokens. Each of them represents one of a garment's features: material, color, texture and so on.

Tokenized memes for everyone

Due to the decentralized nature of such tokens, the process of "digital artwork" trading is much more democratic than the classic art market: the final reseller can earn profits equal to the entire initial value of the NFT.

Physical objects created by DIGITALAX will be also accompanied by "memetic patch" NFTs. The whole series of "patches" is designed to promote core themes such as sustainability, exploitation in the supply chain, gaming industry and unrealized creator value.

Every customer who purchases a physical object by DIGITALAXeven with fiat currenciesautomatically receives tokenized patches, which, in turn, facilitates crypto adoption among newbies.

The Polygon team treats the collaboration with DIGITALAX as a bridge to a new-gen digital metaverse based on blockchain.

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About the author

Blockchain Analyst & Writer with scientific background. 6+ years in IT-analytics, 3+ years in blockchain.

Worked in independent analysis as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)