MONA price prediction: The fashion token that’s turning heads

DIGITALAX and its MONA token want to be the go-to platform for Web 3.0 fashion

A woman choosing clothes in the metaverse                                 
MONA holders can vote on new fashion trends by using the DIGITALAX platform – Photo: Shutterstock
                                

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Fashion has recently taken the spotlight in Web 3.0, with metaverse users wanting to showcase the latest in vogue trends. DIGITALAX is a platform designed to curate, showcase and sell the latest Web 3.0 fashion.

Investors can have a say on what is luxury with the platform’s utility and governance token Monavale. The volatile MONA cryptocurrency is currently experiencing another rally after being listed on Coinbase and some forecasters think a new all-time high will eventually be likely.

The DIGITALAX fashion platform

With fashion playing an increasingly important role in the metaverse, DIGITALAX was created to fulfil users’ and designers’ creative visions. The Web 3.0 fashion platform is building an ecosystem across non-fungible tokens (NFTs), gaming, e-sports, the metaverse and even physical items.

Decentralisation has been sewn into the fabric of DIGITALAX – investors get a say on the future of the platform, and more crucially what is considered in fashion. According to its supporting documentation: “We are birthing new tools for the democratisation of the Web 3.0 fashion supply chain, bridging a global open-source ethos to fashion innovation.”

As fashion in Web 3.0 requires many skills, the team behind DIGITALAX includes designers, developers, creators, crypto experts and gamers.

Managing this team is the fashion platform’s founder, Emma Jane MacKinnon-Lee. Aged 23, she dropped out of the University of Sydney, where she was studying aerospace engineering.

Now she has dived headfirst into the world of Web 3.0 fashion, where she splits her time among her other creations, including CC0 DAO, a Web3 Creative Commons DAO for fashion, art, music and other creative digital assets; and a global designer network.

What is Monavale (MONA)?

Monavale is an Ethereum-based token that powers the DIGITALAX platform. The documents page states: “$MONA token is the core governance and value anchoring token for maintaining the ledger of activity for the decentralised goods and assets generated through the core infrastructure within this ecosystem.”

Holders of MONA coin can vote on the future direction of the platform. This ranges from what to include in its frequently updated fashion index to NFTs that the treasury should invest in.

MONA can also be used as a payment source for fashion assets bought on its marketplace. Users can earn rewards in Monavale as well from competing in e-sports tournaments.

MONA’s price catwalk

Monavale launched at $691.22 on 6 December 2020 and has seen an incredibly volatile price history. After fluctuating between $600 and $1,500 in its first few months, the token skyrocketed to its all-time of $2,843.59 on 20 March 2021, according to CoinGecko.

The price record came just before MONA was listed on the QuickSwap exchange and its Polygon-based Matic marketplace went live.

This high quickly fizzled out and the price eventually started plummeting. By the end of March, it had fallen below $2,000 and on 29 June it was trading around the $500 mark.

The next spike in the MONA token occurred in early November when the first two governance improvement proposals were revealed for holders to vote on. The Indie Web3 Fashion Index is a weekly opportunity for investors to decide which NFTs are considered ‘luxury’, in a bid to democratise the concept and move away from traditional concepts of luxury. Meanwhile, the Designer Weekly Spotlight was created to accelerate and spotlight Web 3.0 fashion creators.

On 3 November, two days before the voting closed, the MONA price jumped to a high of $2,404.51, before falling back to $1,800 on the day’s close.

It climbed above $2,000 again at the end of the month when more improvement proposals were put forward to the community, one of which included voting on an NFT for the DIGITALAX treasury to purchase.

However, MONA soon fell below its launch price once again. Its volatile nature proved victim to 2022’s bear market and crypto crash. On 13 June 2022, CoinGecko reported that MONA stooped to its all-time low of $123.51.

Monavale started rallying recently after Coinbase added support for the fashion token. At the time of writing, on 28 June, MONA is trading at $662 and is up 170% in a recent seven-day period.

MONA price prediction

While Monavale’s volatile nature has made forecasting future prices more difficult, most making a MONA coin price prediction are optimistic. TechNewsLeader suggests the cryptocurrency will stoop to $409.48 in a year but climb past $1,200 in five years’ time. Its Monavale price prediction for 2030 is an ambitious $5,598.09 maximum price.

A similar forecast is given by PricePrediction who anticipates an average price of $219 in 2022. Its Monavale price prediction for 2025 expects this to climb to $692 and hit $4,755.38 in 2030.

DigitalCoinPrice gives a much more gradual Mona token price prediction. It suggests an average price of $855 this year and thinks it can only climb to $2,993 in 2030.

On the other hand, WalletInvestor describes it as a “bad” investment, with the Monavale price prediction for 2022 expecting the token to plummet to $108.

FAQs

DIGITALAX is a Web 3.0 platform for fashion assets. It is hosting assets across metaverses, games, and in the physical world. MONA is the native utility and governance token that is used to decide the future of the platform and wider fashion trends.

Most forecasters are optimistic about the fashion token, with TechNewsLeader suggesting it could eventually surpass $5,000. However MONA has proved to be an extremely volatile token with incredible highs and depressing lows, so you should never invest more than you can afford to lose.

There is a circulating supply of 10,2020 MONA coins.

It depends. Monavale was built to support the DIGITALAX ecosystem of Web 3.0 fashion products. However, its token has proved volatile, so you should carry out thorough research and never invest more than you can afford to lose.

Further reading

The material provided on this website is for information purposes only and should not be regarded as investment research or investment advice. Any opinion that may be provided on this page is a subjective point of view of the author and does not constitute a recommendation by Currency Com Bel LLC or its partners. We do not make any endorsements or warranty on the accuracy or completeness of the information that is provided on this page. By relying on the information on this page, you acknowledge that you are acting knowingly and independently and that you accept all the risks involved.
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