Prior to today, the majority of consumers probably connected NFTs with collectibles, artwork, and other digital-only things like profile images. But blockchain tokens can also be linked to real-world assets like real estate, art, and other tangible goods.
Pusdao wants to utilize Solana NFTs as redemption coupons to buy items like underwear and streetwear, providing a startling illustration of how NFTs might upend the retail and garment industries.
Decryption was introduced by founder and CEO Izzy Howell, who was formerly Head of Development at Solana Derivatives Protocol Cypher. He had the thought while chatting with some old DeFi coworkers this week at the Chainlink SmartCon conference.
“I was really late with my team, and everyone on my team just kept saying that liquidity is what matters. ‘That’s the most important thing: liquidity, liquidity, liquidity,’” she recalled. “And the next thought on my mind was that I wanted to do a pair of panties that said ‘highly fluid’ at the crotch.”
Howell, who was earlier recognized as a rising star by Crypto decrypt, shared his idea with others and claimed to have received “a lot of support from the crypto business” (including cash), which led him to leave Cypher in order to concentrate on a different project. To begin with, PuCDAO will provide freely redeemable NFTs. She has bigger plans for the brand in the future than just selling tangible undergarments.
“We are using Web3 technology to enhance the next generation of apparel, CPG [consumer packaged goods] product, software drop and experience,” explained Howell decrypt In a followup chat via Telegram. “Our brand is punk rock meets hyperfemininity: We’re gritty, flashy, and powerful—and a much-needed breath of fresh air in this brow-centric space.”
Howell plans to expand the Pusdao brand into “whatever is super hype-y,” including the above products and experiences.
The concept of exchanging blockchain tokens for tangible clothing is not new and has been investigated in a number of ways. For instance, the price of each token increases with each sale on the bonding curve in the project Unisox, which sells tokens redeemable for socks with a Uniswap theme. The token initially cost $12, but it is currently worth $18. The purchase price is $22,807.
With the Metaverse rollout in December, Adidas investigated NFT’s models for unique clothing in collaboration with board app Yacht Club, NXT Influencer Gamani, and Punks Comics Project. Additionally, the VIRL NFT concept on the VAX blockchain is based on tokens that may be exchanged for tangible products.
Howell claimed that since digital tokens are simpler to resell than physical goods, redemption NFTs make sense for streetwear and other goods. As a result, buyers are compelled to physically ship their purchases. Trading tokens can be more convenient, less expensive, and less harmful to the environment than sending parcels.
“People buy” [streetwear] instantly, she continued, and then it is the buyer’s job to take that hat and post it on eBay and deal with shipping and all that things. Selling the physical object on the secondary market is essentially frictionless for me because I have the legal rights to it.
Because it was “taken up by the Solana ecosystem,” Howell is debuting on Solana, but she sees a multi-chain future and intends to make her products available on other blockchain platforms as well.
Howell presents a brand that is unmistakably Web3 as PussyDAO plots a course for its first product launch.“This is the first investor-backed social commentary,” she said. decrypt, “Not only are we a company – we are also a living, breathing art movement. We eschew products that are designed to encourage meaningful conversations about gender, identity and the financial landscape.”