Decentralized Fashion Brands Are Turning Consumers Into Creators - Decrypt

Members use cryptocurrency to vote on new product designs, and share in the profits from sales.

“There’s this huge push towards the digitalization of culture and experiences.”

For advocates of decentralization, the movement has the potential to break up monopolies and hand control back to the users. Its impact is already being felt in industries from finance to social media and even Internet access—but what about fashion?

MetaFactory bills itself as a platform for collectively managed, community-owned brands. The idea is fairly straightforward; designers create their own brands and style guides, while the community gets to suggest and vote on product designs under the umbrella of the brand through a decentralized autonomous organization (DAO), using the DAI cryptocu... See more

Platforms such as MetaFactory and Zora are helping "consumer-creators" share in the profits from collectively-owned fashion houses and music labels.

Decentralized "brand factories" are using a DAO-based model to give consumers a stake in community-owned brands.