DIGITALAX, the digital fashion NFT platform, has announced it is planning to launch a metaverse magazine based on NFTs. Called DIGIFIZZY, it’s the first of its kind. The initiative will feature voices, creators, insights, and hot topics from the metaverse, fashion, gaming, Web3, and more.
Along with the magazine itself, DIGITALAX is pioneering a brand-new publishing revenue model unique to the NFT space. The magazine, which the project has developed almost completely in-house, will be free to read. However, it will offer readers the opportunity to unlock paid NFT-based content, such as digital art, fashion, music, collectibles, or in-game items. They will be provided in three exclusivity levels, common, semi-rare, or exclusive.
DIGITALAX will be issuing the bundles under its ERC-998 variant on the Polygon Network. When someone buys a bundle, they receive the ERC-721 NFT that owns a group of ERC-1155 tokens, enabling the entire bundle of content to be transferred in a single transaction. When the owner wants to access any of the content in the collection, they simply send the master ERC-721 to a burn address, unlocking the bundle of 1155 NFTs. Buyers will pay in the native DIGITALAX $MONA token.
For creators, there’s a significant incentive to participate. With many traditional print or Web2.0 magazines, the best someone can hope for is free inclusion, although in many cases, publications charge for coverage. However, by providing content to DIGIFIZZY, creators can monetize their creations with shares of sales distributed automatically to their wallets.
DIGITALAX plans to launch the magazine and bundles on a new domain in the coming weeks. In order to maintain fair distribution, the project is placing a limit of ten purchases per address. Contributors and artists will be announced imminently.
DIGITALAX is the first NFT ecosystem for digital fashion, offering a platform for minting and trading NFTs to be used in gaming and the metaverse. The project has pioneered the concept of “fractional garment ownership” based on NFTs. By making use of the ERC-1155 token standard, creators of a digital garment can collaborate and contribute different styles, patterns, or textures. Each contribution is its own individual 1155, meaning that when the garment is sold, a share of the royalties is automatically attributed to the designers involved based on their participation.
DIGITALAX has also launched its own esports platform called ESPA – an ecosystem of designers, developers, and players aiming to further professionalize the burgeoning esports segment. More recently, the project issued a hybrid digital/physical clothing line on Polygon Network, allowing buyers to purchase a physical item with a corresponding NFT as a way of narrowing the divide between fashion consumers and the NFT market. The partnership with Polygon reflects the project’s commitment to sustainable fashion while ensuring full compatibility with the widely supported ERC token standards.