Web3’s brand has a “punk rock with hyper-femininity” style, leveraging NFTs that can be redeemed for clothing and other products.
Most people associate NFTs with digital items such as profile pictures, artwork and collectibles, but blockchain tokens can also be tied to physical art, property and other tangible assets.
cumming soon ✨ pic.twitter.com/q3GnYf71fL
— 𝖕𝖚𝖘𝖘𝖞𝕯𝕬𝕺 (@0xpussydao) September 18, 2022
PussyDAO Physical Underwear
One example of how NFTs could shake up retail and apparel would be PussyDAO, which intend to use Solana’s NFTs as redemption tokens to buy things like underwear and streetwear.
Founder and CEO Izzy Howell, former head of growth at Solana’s derivatives protocol Cypher, said:
“I was up late with my team, and all the guys on my team kept saying that liquidity is the only thing that matters. That’s the most important thing: liquidity, liquidity, liquidity, liquidity,” he recalls. “And the next thing I came up with was that I wanted to make panties that said ‘great liquidity’ on the crotch.”
PussyDAO will start by offering NFTs that can be redeemed at any time for physical underwear, but has bigger ambitions for the brand over time.
“We’re using Web3 technology to scale the next generation of apparel, CPG products, software drops and experiences,” said Howell “Our brand is a meeting of punk rock and hyper-femininity: we’re bold, feminine and powerful, and a much-needed breath of fresh air in this male-centric space.”
Howell’s plan is to expand the PussyDAO brand to anything cool, including the aforementioned products and experiences.
Redeeming a blockchain token for physical clothing isn’t new
Unisocks, for example, is a project that sells tokens redeemable for Uniswap-themed socks, and the price of each token increases with each sale on a linking curve: it started at $12, but now buying a token costs $22,807.
Adidas explored the model of NFTs redeemable for exclusive apparel with its launch of Into the Metaverse last December in partnership with Bored Ape Yacht Club, NFT influencer gmoney and the Punks Comics project.
And the WAX blockchain’s NFT vIRL concept is based on tokens that can be redeemed for physical products.
Howell said that redeemable NFTs make sense for streetwear and other products because it’s easier to resell digital tokens than being forced to physically ship things to buyers.
“People buy streetwear and then it’s the buyer’s responsibility to take that cap and post it himself on eBay, and he has to deal with shipping and all that stuff,” he explained. “But if I just own the NFT that entitles me to that physical object, it’s a lot less frictionless for me as someone selling it on a secondary market.”
As PussyDAO charts the path to launching its first product, Howell describes a brand that is uniquely Web3. “This is the first investor-backed social commentary,” he said, “We’re not just a company, we’re also a living, breathing art movement. We launch products that are designed to incite meaningful conversations around gender, identity and the financial landscape.”
Howell is launching on Solana because she was “raised by the Solana ecosystem,” but envisions a multi-chain future and plans to debut products on other blockchain platforms.
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