Marketplace

The DIGITALAX Marketplace is a concentrated content hub for all digital fashion assets. This marketplace will eventually serve as the core market for the buying, selling, transfer of creatively and technically optimised digital fashion that can be taken by Players cross-platform—directly into game, VR and other live 3D content applications/environment.

We are enabling and promoting content creation and supply, creating new access channels for democratising our supply chain and increasing creativity. Through Fractional Garment Ownership the whole supply chain is democratised, where even junior fashion designers and creators can experiment, gain access to and distribute their creativity— removing limitations and overshadowing by large fashion houses.

Our marketplace positions Players as the key drivers to digital fashion content creation as they build up an interoperable wardrobe of identity defining assets. Designers, artists and fashion brands are able to ship content directly to the Players for purchase in the marketplace.

Auctions

Auctions on our marketplace are single-edition ERC-721 NFTs. The platform allows for verified whitelisted digital fashion designers to auction off their digital-only garments over a set time period to potential bidders. All files are hosted in IPFS. These garments are purely digital (i.e. there is no physical version). The Child NFTs are "accessed" through burning the master ERC-721 NFT.

When successful bidders acquire the associated garment NFT they are also receiving a full digital IP Assignment Transfer that allows the buyers complete rights and ownership of the digital fashion garment 3D model. Read more about our Licensing terms below.

All bids are on-chain and placed in ETH, where the highest bid is placed in escrow. There is a minimum bid increment of 0.01ETH. Reserve prices can be set for each auction.

Individuals that are outbid during the live auction event immediately have their funds returned to their connected wallets and their gas fees are paid by the outbidder. All bidders remain anonymous and are only recognised by their wallet addresses. After a bidder makes a successful bid, they will have to wait 24 hours before submitting a bid withdrawal. Upon the auction end time, the auction will be resulted to the highest bidder.

See our Open Sourced Auction Smart Contract here.

Instant Buy

The instant buy contracts are first being introduced on the DIGITALAX marketplace under our Fractional Garment Ownership concept. Collections of Semi-Rare and Common digital fashion items can be bought on the marketplace instantly.

The same IP and licensing standards apply for our NFTs listed under the Semi-Rare and Common collections as in the Single Edition Auctions.

The listing price of each item is determined by the DIGITALAX platform.

Degrees of Exclusivity

Digital Fashion items issued on the DIGITALAX platform, and under our Fractional Garment Ownership concept, follow the Degrees of Exclusivity meta-data guidelines.

There are 3 different Degrees of Exclusivity that a Child ERC-1155 NFT and Digital Fashion ERC-721 NFT can be issued under:

  • Exclusive: Single Edition 1 of 1. Sold at Auction.

  • Semi-Rare: Collection between 3-5. Sold at Instant Buy.

  • Common: Collection between 7-9. Sold at Instant Buy.

The Artists issuing the Child NFTs indicate through the on-chain metadata which Degree of Exclusivity that a particular Child NFT has been issued under and so what a Digital Fashion Designer using the modular component must adhere to i.e. a Child NFT issued as Semi-Rare can only be used by Digital Fashion Designers within their semi-rare collection.

Licensing

The Open Digital Fashion License attached with these designs verify that the buyer has a license to the copyright of the 3D model and also means that our designers are legally prohibited from taking these auctioned garments and selling them through other platforms or using them elsewhere commercially.

The Child NFTs (ERC-1155s) that are issued from the platform do not incur the same full IP Assignment transfer. These are instead Open Sourced by the artists into the DIGITALAX platform to be used by the DIGITALAX Global Designer Network. All Child NFTs maintain a standard royalty fee that is paid back to the original Child NFT issuer when a master garment that includes their relevant ERC-1155 component is sold on the DIGITALAX platform. A buyer of the master garment does not have copyright to the Child NFT materials, textures, patterns etc.

Fees

For auctions that are exclusively performed by the DIGITALAX Global Designer Network a 12% protocol fee is taken. This will go towards the Protocol Reserve for growing and maintaining the platform.

For Auctions that are delivered as a part of the Fractional Garment Ownership concept, the following fee split is applied:

Final Auction Sale Price

Digital Fashion Designer

Child NFT Issuer

Protocol Reserve

Designer Developer Ecosystem

Less than or equal to $1000

60%

25%

15%

0%

Between $1000 and $2000

55%

20%

15%

10%

Above $2000

50%

15%

15%

20%

More information on the Designer Developer Ecosystem can be found here.

Secondary sales of Parent NFTs on OpenSea will grant the Designer a 10% commission on the total secondary sale market price.

For the Instant Buy sales, as a part of the Fractional Garment Ownership concept, the following fee structure is applied:

Degree of Exclusivity

Digital Fashion Designer

Child NFT Issuer

Protocol Reserve

Designer Developer Ecosystem

Semi-Rare

60%

18%

15%

7%

Common

58%

16%

15%

11%