Martini; A Decentralized Fashion Platform for All
Everything is being digitized in this modern age and the fashion market is one to be left behind. According to BoF report, 75 percent of fashion retailers intend to invest in new technology in 2018/2019. It started with online stores and content marketing, now we are talking about blockchain technology. That is what Martini is all about. Let’s begin with the obvious question here;
WHAT IS MARTINI
Martini is a decentralized global fashion ecosystem that was created to provide emerging and talented fashion designers with a platform to monetize their clothing lines. In addition, investors get the opportunity to invest in early stage of the designer brands.
Basically, Martini offers a marketplace where valuable clothing and fashion related expertise can be traded between fashion designers, fashion consumers, and other professional, e.g. photographers and models.
DECENTRALIZED FASHION ECOSYSTEM
A decentralized fashion ecosystem means that fashion will no longer be defined by a handful of prestigious brands. Young, new designers will have the opportunity to showcase their talent to the whole world and anyone will have the choice and the means to support favored brand, regardless of the niche.
A decentralized fashion ecosystem means a peer-to-peer fashion ecosystem, where everyone involved is a winner. Let’s break it down a little, shall we?
For Emerging Designers
There are three ways an emerging designer can benefit from this platform;
• Crowdfunding
• Real Market Insight
• Community
With Martini, emerging designers get the best and most efficient way of raising funds for their clothing lines. This can easily be achieved by giving part of the revenue to investors. Niche brands that cater to under-served market will find this decentralized platform especially useful
Designers will have access to a large community of fashion lovers, which will make it easier to do fasriterations and agile testing to gain valuable feedbacks. Also, the presence of a community makes it easy for talented designers to attract dedicated followers.
For Individual Investors
The first thing investors enjoy is simple, an opportunity to invest in one of the most lucrative businesses on the planet. In addition to this, there is also industry exposure. A handful of brands will no longer be able to decide the fate of the industry,
For Fashion Consumers
Fashion consumers on Martini get to enjoy exclusivity. What does this mean, you ask? Designers who are funded on the platform have to sell their latest, unique design on the platform’s marketplace. That’s right, you’ll be getting a front role seat.
Furthermore, the fact that designers and consumers can communicate on this platform makes it possible for consumers to have access to customized items.
For Professionals
For professionals, Martini is all about monetization. It is the most dedicated platform where fashion related professionals, models and photographer will be able to make some money off their skill and work for brands they believe in.
As said earlier, everybody is a winner.
THE INVESTMENT PROCESS
The MTN token will be used as a means of investment in which, the system price is a floating price and is based on the latest averaged price of the MTN token across the market. That means, this price is taken into account every time there is an investment.
A designer who has a promising plan for his or her next clothing line will have to offer a submission of equity campaign. This explains how equity will be shares will be offered to the investors. After that, they will be required to pitch their line to interested parties.
The pitch is supposed to include a fully developed portfolio, an adequate number of sketches and pictures of existing clothing designs. The designer is also supposed to add a detailed business plan that shows how to attain his or her investment goal.
This information will be stored on IPFS and smart contract will be initiated immediately after campaign submission. If an investor decides to invest in the campaign, the contract and investor’s information will be recorded. Eventually, this information in the smart contract will be used to pay out the appropriate MTN token.
THE MARTINI TOKEN
The Martini Token, with a ticker name of MTN, will be an ERC20 compatible utility token which is expected to fuel the Martini Ecosystem. The fact that it uses smart contract means it will also be integrated with the utility function of a decentralized autonomous organization.
That means, DAO will function as the Martini Ecosystem consensus platform, which handles voting processes.
Any transaction within the Marketplace will be done using MTN Token. In rare cases, other payment vehicle such as ETH, can be used. However, it depends on the popular demand and technical limitations within the marketplace.
Token Sale
The ERC20 compliant MTN token is suppose to have a total token supply of 1,000,000,000 MTN and is expected to cost 0.000025 ETH per MTN. The hard cap for the project is $7.5 Million, while the soft cap is $0.5 Million. Please note that, only individuals with over 20 ETH contributions will be eligible to apply to be a member of the executive board.
The Token sale is divided into the pre-sale and the ICO sale. Furthermore, there are bonuses associated with purchasing the token at each of these stages. Check out the website to get the details on how the bonus works.
Token Allocation
As said earlier, a total of 1,000,000,000 MTN tokens were created and here is how the token will be allocated. According to the Martini website, the largest percentage of the token supply will be used fro the token sale.
Although the exact percentage wasn’t specified, the founding team and company reserve are expected to receive an equal amount of percentage. Finally, the smallest percentage is supposed to be used for bounty service.
Fund Distribution
According to the website, 40 percent of the fund will be used for research and development and another 40 percent will be used for marketing. Fifteen percent of the fund goes to operations, while the final 5 percent will be used for overheads.
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