Degen Toonz, a renowned brand in the world of Non-Fungible Tokens (NFTs), has announced the launch of a new offering called “The Closet” at NFT Paris. The Closet is a unique ecosystem that enables Toonz holders to express themselves through digital wearables that reflect on-chain. In addition, The Closet opens doors for collaboration with existing Web2 brands, and Degen Toonz has already started working on partnerships with undisclosed brands.

The Closet primarily focuses on releasing items to Toonz holders via the brand’s marketplace, and once claimed, these digital items will appear in the holder’s personal “closet.” From there, collectors can buy, sell, and trade these digital wearables on any supported NFT marketplace. The Closet offers new trading opportunities for Toonz holders and allows them to increase their self-expression through customization of their profile pictures (PFPs), which now also reflect full-body avatars.

Degen Toonz has celebrated its first anniversary in the NFT space, and the brand has shown that despite market conditions, a creative team and a strong community can provide value. The brand has revealed that it currently has 5,000 unique holders in its ecosystem, with 80% being based in the U.S., 10% in China, and 5% in Canada. The remaining 5% is made up of various global collectors. Degen Toonz has also shared other key growth metrics, such as over 100 million social impressions per month, 100,000 mentions per month, and being among the top 10 most utilized PFPs in the Web3 space on Twitter.

In conclusion, The Closet by Degen Toonz offers Toonz holders an exciting opportunity to express themselves through customizable digital wearables, while also providing new trading opportunities. The brand’s strong community and creative team have proved to be essential factors in its continued growth and success in the NFT space.