Feb 25, 2022
Mona Fang started selling clothes online for side income and quickly realized the detrimental environmental impacts of the fashion industry. So at age 17, she decided to create a solution to the consumption problem in "fast-fashion." While a freshman at university, she started Karma Trade, a circular fashion trading platform using digital currency.
Karma Trade uses a digital currency called "KARMA" to buy and sell secondhand clothing. Customers earn KARMA by donating clothes to the circular economy and can spend KARMA to get new clothes while only paying a small $USD swap fee. So far, Karma Trade has helped recirculate 20,000 items of clothing and reissue 200,000 Karma pieces.
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