The announcement is officially out. We are racking the weights on a new development set to launch in May of this year. The Founder's Program is in the works and has been officialized and progressed. But what truly is this program? More importantly...what are NFTs?
Let's start with that question. The term "NFT" serves as an acronym for "Non-Fungible Token." As stated by The Verge News "Non-fungible more or less means that it’s unique and can’t be replaced with something else. For example, a bitcoin is fungible — trade one for another bitcoin, and you’ll have exactly the same thing. A one-of-a-kind trading card, however, is non-fungible. If you traded it for a different card, you’d have something completely different."
Non Fungible Tokens have a place in the rising world of Web 3.0, which is the third stage of progress of the Internet itself. Here's a summary of the three phases of the web.
1. Web 1.0: Read only web. Think of this like a television or radio which you would use apps like Yahoo to obtain information, but not do much on your own for publishing information. This is sort of a read only basis.
2. Web 2.0: Stage two of the internet. This is everything that has existed up before the developments taking place today. Common interaction exists, and people obtain as well as post and interact with each other. Think of this like social media such as Twitter or Instagram, where people can publish their own info and news. This exists on a sort of read and write basis.
3. Web 3.0: The new web development. Assets and content can be verified using a blockchain to legitimize ownership and mobility of information. This is a sort of read-write-legitimize era.
Now that you have a basic understanding of Web 3 and NFTs, therein lies the important question; how can a clothing brand such as DAREDVL utilize an asset such as an NFT to further their purpose of selling apparel?
This question was answered creatively by our company core team and has now evolved to what you see as the Founder's Program.
Using these verifiable assets, we will be issuing 200 NFTs through a smart contract, which is used to legitimize and 'mint' or create the NFTs by assigning them the digital identification on the blockchain.
These assets will allow the owners or holders to participate in the design of the upcoming collections through being able to verify their assets which will allow them access into a group to work with the design.
The ability for verification of the holders allows our team to then keep an updated group and allow anyone access as well as benefits updated in real time.
The changes brought on by Web 3.0 bring a new dynamic to this space, and we're making sure we utilize it.
You can continue your education of the Web 3.0 space by keeping updated with our news, such as the continuation of posts such as these.
Until then, feel free to check out our NFT Founders Program page to learn more about the specifics of our project.