The New Tag – Litepaper
Blockchain is integrating into our lives at a rapid rate, reminiscent of the dot-com boom of the 90s, the internet, gaming and augmented reality has unionised in the form of the ‘metaverse’ — an iteration of a world, similar to our own in many ways, but completely virtual where all games exist. NFTs are a nascent but highly disruptive development in emerging blockchain technology which find an important use case in this world.
The New Tag is an incorporated company which combines the social and economic status of clothing and emerging technologies to define how fashion and gaming interact in the metaverse. Whilst clothing may have once served the purpose of providing a barrier between the skin and the environment, today clothing enjoys a status as a sign of one’s status and as a bona fide asset class. Similar to how QR codes are used to verify whether an article of clothing is real in this world, NFTs will allow consumers to verify that they have the real skin in-game and not a fake. This inception of the transition of cultural flows into this emerging virtual world is being driven by a multicultural and multidisciplinary team who have been enabled by open-source blockchain technology from cryptocurrencies to NFTs to deliver an exciting investment into the future.
As such, this Litepaper will outline our preliminary plans for this early-stage expansive project and will explain why we are deciding to take the route of hosting an ICO as opposed to taking the conventional fundraising routes.
The New Tag Originals and the Marketplace:
In order to bring the cultural flows of fashion from this world into the metaverse, we will sell NFTs that will be accompanied by original merchandise that you will receive in real life which you can also import into your favourite games as skins. Our team will bring you original designs and ideas. We will also collaborate with your favourite brands and names to bring you more exclusive content. In a digital world, NFTs are the ‘new tag’ thus you will be able to verify that you have the real skin in-game. The exclusivity of each individual NFT will turn it, and the accompanying apparel and skin, into their own individual asset. Whilst the Marketplace will sell exclusively The New Tag Originals at the start, we hope to expand the list of vendors available on the Marketplace as we scale.
The Bridge Protocol:
The Bridge Protocol is an open source code which can be implemented into your favourite games by the developers, which will allow you to import NFTs from The New Tag Marketplace into the games.
Once the token swap from TNT to Tag tokens is complete, we will launch our own line of mobile games where, through the Bridge Protocol, you can play with skins from our Marketplace. The games will reward you with TAG tokens which can then be used on the Marketplace or be held as a store of value.
TNT is the DeFi token that will power The New Tag in the early stages of the project. The contract will feature three key functions (reflection, liquidity pool acquisition and burn) to encourage HODLers to keep HODLing until the token swap to TAG tokens is complete (check the Litepaper to find out more).
Once our Marketplace is ready to launch and the Bridge Protocol is complete, we will begin our token swap from TNT to TAG tokens. TAG will power the entire The New Tag network. You can earn TAG tokens for every transaction made on the Marketplace, buy them on an exchange and earn them through our own line of games. You can spend the earned TAG tokens on the Marketplace to buy more NFTs (which come with apparel that can be worn in this world and also imported into games as skins). Also, just like any other cryptocurrency, you can hold them as a store of value.
The New Tag is the trading name for The New Tag Capital Ltd.