As much as we are thrilled by and heard from so many people in Miami about how amazing it is at how far we have come in such a short time and how quickly web3 is advancing we are not as far along as we need to be. We aren’t fully broken away from the old traumatic world and not everyone gets that better is possible yet, which means that there is still a continued lag of old behaviors. You can read the article here: The No FOMO Review of Art Basel DCENTRAL-ized & a Fashion Heist in Bright Miami Moonlight: Full Disclosure | by DIGITALAX | Dec, 2021 | Medium
One example of that, that hit close to home, was at the end of Dcentral, where three physical pieces handmade by three of the Global Designer Network designers, were physically front run in the night, where when we arrived to the venue after the convention was finished (i.e. the following day) to finalise packing up we found that these three pieces were missing.
1. Orange Party Dress by Di.Universe (USD500)
2. Bachue Coat by Infinito (USD6000)
3. Pause Physical T-Shirt by Temporary Malfunktion (USD500)
It’s only natural to wonder who would make off with them at an event like this, dedicated to empowering designers and creative people everywhere to thrive. Our first reaction was sharing in the upset-fulness of something like this happening, especially given how much effort, risk, capital heart and hard work every designer had put in to hand crafting and stitching every piece. If you were there IRL you would have seen how much detail each piece contained, the high fidelity of the stitches and how the form followed seamlessly their highly conceptual functions.
If you didn’t already realise how big of a deal realms are, and launching every indie fashion designer, label and brand directly into web3 is, then, no FOMO, but you had to be there.
Because that’s the other sad part, in so much of physical fashion, the truly moving, rare and exemplary parts of the story get lost because no one is there to see how much actually goes into it. When a piece goes up on a marketplace it can be too easy for the untrained eye to dismiss the implicit or inherent value within each work compared to the next.
As human and compelling as it is to simply commiserate when friends and fellow creators experience a loss, we can’t forget that this is actually a tremendous opportunity to make use of the openly secret powers provided to us by web3.
What’s a model that shifts the pain of loss from individual pieces of content, digital or physical, to more socially coordinated agreements for flexibility, anti-fragility and more, in responding to loss and creating gain in less than ideal circumstances?
Reinforced by our personal experience of the quality and uniqueness of the works involved and the meta story of their participation in DCentral Miami Art Basel, we, as pioneers of the web3 fashion, can take a big leap forward in accelerating that transition.
The organizers of the convention, Dcentral, too see the gravity of the situation and will be directly compensating each designer in fiat at market price of their items. This is amazing.
It’s also a chance to flip the opportunity cost by making sure that these lost works end up in an on-chain validated home and are given the chance to be appreciated by proper collectors.
The value of a piece does not lie just in its specific configuration of atoms, materials, the JPEG and 3D files attached to a data store, or even the cost of producing them.
It’s more in the encoded abstraction of the piece, the meta story, which can take many digital or physical forms across different places at different times, or even depending on who is interacting with it. It’s a lot like when Banksy’s iconic piece, Girl with a Balloon, shredded itself at the moment of sale, only to then deepen the story so much that the piece ended up not only increasing in value but also gaining more renown and notoriety.
Thus, with our unique vantage point at the forefront of web3 fashion, it only makes sense that we would be able to spot these historic moments in the making of the new fashion history. While it wouldn’t be right for us to be the only bidders, the DIGITALAX Treasury is in the perfect position to participate in the biddings, and, if lucky enough, own these moments in web3 fashion history.
Each of the designers 3 NFTs will go up for bid on the DIGITALAX Marketplace at the end of this week for a 5 day auction, where anyone can bid on the items, set with a reserve at the market price.
The DIGITALAX Treasury is in a perfect position to be one of those bidders, and there is a proposal submitted on the forum here, which will go live tomorrow (Dec 6th) to Snapshot for the $MONA and Genesis MONA NFT holders to vote whether the DIGITALAX Treasury should bid on the items.
To think that a year ago web3 fashion didn’t even exist and now we have hundreds of designers revolutionizing this movement and every industry connected to it at one of the highest esteemed, most pivotal art, fashion and web3 intersecting events anywhere of the era.
This is the first time that so many GDN members and DIGITALAX community members and collectors were able to meet IRL in person. It is easy to overlook how often a handful of people coming together from all over the world for a few days to gather for spirited conversation and formative experience can change the course of history. The list of examples is very long but we could look at Seneca Falls in 1848, where a group of women came together for two days and kicked off the Women’s Rights movement that would change the world forever in the decades to come.
Imagine if we were able to go back in time and own a piece of internet history. This is our historic of series of moments we have been living through over the past year as web3 fashion becomes more established, real, and transformative. It’s always interesting, inspiring and invigorating and fascinating to remember how much of computing and technology comes from fabrics, textiles, thread, rope, nets and the methods developed to process them.
This will go to a single choice vote Dec 6th on Snapshot. No quorum.