On Closet
Today I introduced closet.gg to my 11-year-old daughter, Pascale. Here is a comprehensive overview of our discussion, including detailed explanations and the unique aspects of closet.gg.
Historically, major technological innovations have often emerged first in less regulated environments, like war, gambling, or video games (more recently), due to fewer restrictions and greater flexibility. This has included everything from rockets to online payment. Conversely, industries such as healthcare typically see slower innovation because of heavier regulations, despite the availability of advanced technologies like drones and artificial intelligence.
Fashion
Fashion retail is an industry that has yet to widely embrace Web3 technologies. Web2, the current centralized version of the internet, is based on servers controlled by major companies like Google and Amazon that handle transactions and communications. In contrast, Web3 technology supports decentralized interactions, allowing direct peer-to-peer transactions without intermediaries. Currently, limited uses of Web3 exist in retail, such as luxury brands selling products with NFTs to validate authenticity.
Closet.gg aims to revolutionize the fashion retail landscape by integrating Web3 and AI technology, empowering individuals as fashion curators. It combines the advantages of both centralization (for trusted transactions and efficiency) and decentralization (for peer-to-peer interactions and direct creator rewards).
The platform is structured into five main areas:
1. Organize
Users can digitally manage their wardrobes by easily cataloging clothes through intuitive photo uploads. Items are quickly categorized and displayed clearly, allowing efficient navigation through powerful filtering options.
2. Wear
Closet.gg provides personalized, AI-driven outfit suggestions tailored to daily activities, special events, or travel. Users can swiftly browse flat-lay outfit suggestions, substitute items, and use intuitive commands for rapid outfit selection. The AI continuously learns user preferences, creating an engaging and efficient user experience.
3. Discover
Users explore outfits shared publicly by others, creating inspiration in a dynamic, TikTok-style feed. Users spend tokens to “upvote” outfits they like, permanently saving these outfits. Upvotes involve small token payments, creating direct rewards for curators who gain popularity, offering greater financial incentives compared to traditional social media platforms.
4. Trade
Users seamlessly engage in peer-to-peer clothing exchanges through blockchain-secured tokens. Each listed item has transparent, fixed pricing, allowing swift transactions. Users are immediately provided with seller contact and pickup details upon purchase. Failed transactions result in automatic token refunds, enhancing transaction security and user reliability.
5. Shop
Tokens can be redeemed in this section for significant discounts with partnered merchants or directly purchasing items within the app from curated designers and boutiques. Users can obtain clear, usable discounts through tokens, driving tangible financial savings and encouraging continuous app engagement.
Token economics
Token economics play a crucial role in the Closet.gg ecosystem. Users receive an initial token balance upon registration and earn additional tokens through various activities such as contributing outfit photos, successful trades, and consistent platform engagement. Tokens are spent to upvote outfits, bookmark fashion items, purchase items in the Trade section, or redeem significant discounts in the Shop section.
Influencers and active curators who create popular content are directly compensated through tokens based on engagement. Users manage tokens transparently within the app, topping up balances via secure, traditional payment methods, and converting tokens back into stablecoins for withdrawal.
AI
Closet.gg leverages AI to enhance user interactions, from background removal in photos to voice recognition and personalized style categorization. Gamification features further encourage continuous activity, rewarding users with tokens for completing wardrobe organization tasks and achieving various milestones.
We envision Closet.gg as a cohesive fashion ecosystem combining AI-driven style assistance, sustainable trading, engaging social interaction, and a rewarding shopping experience. We’re building openly at closet.gg and invite everyone passionate about reshaping fashion retail to join our team.
For what it’s worth, Pascale did not join our team, yet. ^_^
But Linus (my 9-year-old boy) wants to buy some shares! 🚀