How PussyDAO Is Using Solana NFTs to Sell Physical Underwear

NFT

Most individuals immediately possible first affiliate NFTs with digital-only objects like profile footage, paintings, and collectibles. However blockchain tokens can be tied to bodily artwork, property, and different tangible belongings.

In a single provocative instance of how NFTs may shake up retail and attire, PussyDAO goals to make use of Solana NFTs as redemption coupons to buy issues like underwear and streetwear.

Founder and CEO Izzy Howell, previously head of development at Solana derivatives protocol Cypher, instructed Decrypt at this week’s Chainlink SmartCon convention that the concept got here to her whereas chatting along with her former DeFi colleagues.

“I used to be up actually late with my crew, and all the guys on my crew simply stored saying liquidity is all that issues. ‘That is an important factor: liquidity, liquidity, liquidity,’” she recalled. “And the subsequent thought in my head was that I needed to make a pair of panties that mentioned ‘extremely liquid’ on the crotch.”

Howell—beforehand named a rising star in crypto by Decrypt—shared her concept with others and mentioned she “acquired a lot of help from the crypto trade” (together with funding) so she left Cypher to concentrate on the brand new enterprise. PussyDAO will begin off by providing NFTs that may be redeemed at any time for the bodily underwear, however she has bigger ambitions for the model over time.

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“We’re utilizing Web3 tech to scale the subsequent era of attire, CPG [consumer packaged goods] merchandise, software program drops, and experiences,” Howell instructed Decrypt in a followup chat by way of Telegram. “Our model is punk rock meets hyperfemininity: we’re gritty, girly, and highly effective—and a much-needed breath of recent air on this bro-centric house.”

Howell’s plan is to broaden the PussyDAO model into “something that’s tremendous hype-y,” together with the aforementioned merchandise and experiences.

The thought of redeeming a blockchain token for bodily attire isn’t new, and it’s been explored in varied methods. Unisocks, for instance, is a venture that sells tokens redeemable for Uniswap-themed socks, and the value of every token rises with every sale on a bonding curve—it began at $12, however now shopping for a token prices $22,807.

Adidas explored the mannequin of NFTs redeemable for unique attire with its Into the Metaverse drop final December in partnership with Bored Ape Yacht Membership, NFT influencer gmoney, and the Punks Comics venture. And the WAX blockchain’s vIRL NFT idea is constructed round tokens that may be redeemed for bodily items.

Howell mentioned that redemption NFTs make sense for streetwear and different items as a result of it’s simpler to resell digital tokens than be pressured to bodily ship issues to patrons. Swapping tokens could possibly be cheaper, simpler, and have much less of an environmental impression than delivery packages, too.

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“Individuals purchase [streetwear] instantly, after which it is the client’s accountability to take that hat and put up it themselves on eBay, and so they must cope with the delivery and all that stuff,” she defined. “But when I simply personal the NFT that entitles me to that bodily object, it is far more frictionless for me as somebody who’s promoting it on a secondary market.”

Howell is launching on Solana as a result of she was “raised by the Solana ecosystem,” however she envisions a multi-chain future and plans to debut merchandise on different blockchain platforms.

As PussyDAO charts a course in the direction of its first product launch, Howell describes a model that’s uniquely Web3. “That is the primary investor-backed social commentary,” she instructed Decrypt. “Not solely are we an organization—we’re additionally a residing, respiration artwork motion. We drop merchandise which are designed to incite significant conversations round gender, id, and the monetary panorama.”