Monavale (MONA) Review
Monavale (MONA) token, DIGITALAX at its core is a Digital-Only Fashion NFT Auction Exchange platform. However, we are geared as a wider open source digital fashion tool stack and introducing novel concepts and products around the digital fashion supply chain, native-digital fashion fair pricing frameworks, NFT staking and NFT + Stable coin Stability Collateral Wrappers.
A new concept introduced by DIGITALAX for building digital material, texture and pattern libraries and the formation of digital-only wearables using the Ethereum network.
Creative industries like fashion largely revolve around the usage and exchange of IP, where proof of ownership is often the linchpin to being able to market unique, new design ideas and found a strong brand and message that is distinct, innovative and competitively advantageous. However, lack of proper IP management and clarity in the fashion industry has led to a very centralised ‘winner takes all’ market that forces designers and brands to work almost completely siloed, keep their cards close to their chest and be not willing to share or collaborate in the fear of losing to competition or market share— this greatly slows down the innovation in the industry and puts creativity in an isolated black box.
The idea around building a bridge between real world rare metals and materials, correlated with supply chain management and supply chain automation, in a digital goods environment has tremendous potential. Fractional NFT ownership, creative IP management, transparent digital pricing frameworks and efficient Designer x Developer marketplaces are just a few of the major vertices for booming digital economies like gaming and VR applications.
|Acceptable currencies||USD, BTC, ETH|
|Monavale Price||$881.94 USD|
|Market Cap||No Data|
|Circulating Supply||No Data|
|Number of tokens for sale||–|
|Tokens exchange rate||–|
More about Monavale (MONA):
Both Genesis MONA NFT holders and $MONA token will serve part of the platforms governance. Holders will be eligible to receive a portion of the platform’s revenue and also vote on proposals across monetary and treasury policies, protocol development. This revenue redistribution amount will be different across Genesis MONA NFT and $MONA holders, being dependent on the amount of ETH contributed for the Genesis MONA NFT during the Genesis Period and also the amount of $MONA held.
A total of 500 Genesis MONA NFTs will be distributed during the Genesis Period. 92% of these Genesis MONA NFTs will be allocated to the community participants, 5% will be allocated towards the Protocol Reserve and 3% will be allocated to certain team members and advisors that helped immensely in contributing to the launch and development of the platform.
The DIGITALAX platform will allocate 90% of the $MONA token total supply to staking rewards and 10% to the Protocol Reserve. Note that 200 $MONA from the 9,000 $MONA allocated for staking was put towards providing the initial liquidity for the $MONA/ETH uniswap pool. The $MONA token will be distributed through staking NFTs on the DIGITALAX platform. $MONA will be distributed over the course of 1 year, where 3,600 $MONA tokens will be distributed evenly over the first two months. For the last 10 months, the remaining 5,200 $MONA will be distributed according to an exponential decay.
Parents NFTs are ERC-721 and can be bought at auction. Child NFTs are ERC-1155 and used in the supply chain and DOF Sheet. VIR is a contract on the NFT + Stable Coin Wrapper. There is no pre-sale. No investors or venture capitalists are backing DIGITALAX. The team bootstrapped the project.
The Genesis MONA is an ERC-721 NFT that forms part of the DIGITALAX governance. All Genesis MONA NFT holders and $MONA token holders govern the DIGITALAX ecosystem and are eligible to receive a portion of revenue. This revenue redistribution amount will be different across Genesis MONA NFT and $MONA holders, being dependent on the amount of ETH contributed for the Genesis MONA NFT and also the amount of $MONA held.
Revenue from the auctions
ERC-20 $MONA utility token staking rewards
Liquidity mining rewards and fees
All Genesis MONA NFT and $MONA holders are able to enjoy the DIGITALAX Rewards.
Subsidised gas fees on auctions
Genesis MONA and $MONA token holders can vote on monetary policies, security policies and R&D.
Incentives of $MONA token for participating in voting.
The holders must exercise their rights at least once every 30 days.
Non-active Genesis MONA holders can have their governance rights and abilities diminished or fully reverted.Why would I buy the NFT if the file can be downloaded by anyone?
Take for example famous artworks like the Mona Lisa— sure, anyone can take a photo of the artwork or even paint an almost indistinguishable replica. But, it can be verified that these aren’t the original or true versions and so aren’t worth any value. NFTs work the same way, they are able to provide a verifiable and provable source of truth of the ownership of the digital asset and so therefore, also its source of value.What do I do once I own an NFT?
Congratulations! You have a single-edition rare DIGITALAX digital fashion NFT. These NFTs were uniquely and exclusively designed by our Global Designer Network and only one of each exists in the world. Now that you own it there are a few things you can do; keep it as a collectible, stake it on DIGITALAX to receive the $MONA utility token or swap with DAI to then wrap your NFT with crypto assets and make your collectible more valuable, sell it on the secondary market, use it in the synthetic collateral ecosystem to borrow loans against your NFTs…and more exciting use cases to come that we will be announcing soon!What exactly happens when I list something for auction?
All items are listed for auction on the DIGITALAX platform under the designer’s brand/name. Each design listed is exclusive to the DIGITALAX platform and can’t be sold by the designer elsewhere under the Designer Collaboration Agreement and Open Digital Fashion License, which requires a Full IP Assignment of the design to the buyer.
Listed items are then put up for auction at reserve prices. The live auction period lasts for 7 days and the highest bidder at the end of the live auction period receives the garment.Do you charge fees?
DIGITALAX takes no fees or profit cuts from bids for the first auction round on the platform, all funds go directly to the designers. For future bids, the platform will take a 12% for any sale price above the reserve price, and funds collected through these fees will go to the Protocol Reserve for growing and maintaining the platform. Participants will have to pay all Ethereum network GAS fees for all on-chain bids, staking transactions etc.
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