Unearthly Apparel introduces an innovative concept of renewable physical NFTs that combines physical limited edition T-shirts with NFTs (Non-Fungible Tokens). Each unique T-shirt is accompanied by an NFT, granting the owner exclusive rights to sell the NFT in the marketplace. The subsequent NFT owners not only gain ownership but also renewable print rights, allowing them to order a new T-shirt featuring the design represented by the NFT.
Original owners receive both the physical printed shirt and the Renewable Physical NFT. They have the option to sell the NFT while retaining the original shirt. The new owner of the NFT then acquires exclusive future printing rights for an additional shirt matching the represented design.
Important details: Initial purchases made through Unearthly Apparel’s website (unearthlyapparel.com) using fiat currency include the first printing of the physical shirt and a newly minted NFT at the original retail price. Secondary buyers on the Unearthly Apparel NFT marketplace (unearthlyapparel.market) acquire only the NFT if purchased from someone other than Unearthly Apparel. The Renewable Physical NFT price does not include a new shirt or a physical exchange. New NFT owners (who acquire their NFT on the seondary marketplace) can purchase a new shirt from Unearthly Apparel at the current retail cost after verifying their ownership.
Given the limited production of each design, original owners may recoup their costs or even make a profit while keeping their T-shirt, depending on future demand.
Example
An Original Buyer purchases a presale T-shirt (#5 of 100) for Cthulhu’s Kitchen, an XL, at the original presale price of $39 plus shipping. After the 100-print run sells out, Original Buyer lists the Renewable Physical NFT for sale at $39 in the marketplace.
The NFT is then bought by a Secondary Buyer.
At this point, the Original Buyer has recouped 100% of the retail cost and still retains the T-shirt, essentially obtaining a free shirt!
The Secondary Buyer, having purchased the Renewable Physical NFT for $39, owns just the digital NFT for potential future resale, but also can order a brand new T-shirt for an additional cost from Unearthly Apparel. However, the purchased shirt must be in the original size (XL) to match the NFT.
With Renewable Physical NFTs, a defined ownership structure enables shirt creation at any time. This allows collectors to wear their T-shirts and sell NFT rights to others to replicate the design, resolving the “to collect or to wear” dilemma. Owners can enjoy wearing their purchase without worrying about devaluing the product due to wear-and-tear.
Key Clarifications on Renewable Physical NFTs
- Unearthly Apparel limits the issuance to one shirt per owner to maintain the exclusivity of the design. However, if the owner maintains the NFT in his or her possession, they can exchange the used shirt down the road and pay to have a new one printed.
- NFTs are sold through the marketplace by third parties. But for those unfamiliar with Web3/blockchain technology, Unearthly Apparel can handle the sale (on request), keeping NFTs in the original wallet, listing them at the owner’s discretion, and transferring them to new ownership while paying the original owner proceeds minus fees.
- A 10% community fee is charged for selling on the marketplace, along with blockchain transaction gas fees.
FAQs
On each product page, there is an option to include your public wallet address. When orders are placed with this information, Unearthly Apparel will automatically transfer the NFT after it’s minted.
Simply fill out and submit this form.
Simply fill out and submit this form.
If you never sell or transfer your NFT, it’ll remain dormant in the original Unearthly Apparel wallet that created it.
If you’ve not transferred the NFT to your own wallet, then Unearthly Apparel can list for sale your NFT on the marketplace. To initiate this request, please submit this form.
Yes, the NFT belongs to the owner to what he or she wishes. Burning is requested by those who want to make the print run more valuable, as once the NFT is burned, that’s one less shirt that can be created. Unearthly Apparel will not burn customer NFTs. In order to burn your NFT, you must have it transferred (see FAQ above).
For anyone wanting to learn how the take advantage of selling your NFTs on the marketplace, please leave a comment and we’ll help you through the process.