Remy Van Donk, Author at ivault.at

Pre-loved, rented, and borrowed: the future of sustainable fashion

Remy Van Donk — Thu, 20 Feb 2025 09:52:17 +0000

How borrowing instead of buying can help Europe tackle its textile waste crisis

By Remy van Donk – 2 minute read

The tuxedo you only wear once

A few months ago, a friend of mine had a wedding to attend but didn’t own a tuxedo. Instead of rushing to buy one, he asked around in our neighborhood and borrowed one from a friend. The suit fit perfectly, and after a quick dry clean, it was ready to be returned. No waste, no unnecessary spending, and no tuxedo collecting dust in his closet.

This small act of borrowing reflects a bigger shift we need to make—rethinking ownership, especially when it comes to fashion. Do we really need to buy something we’ll only wear once?

Europe’s textile waste problem

Every year, the European Union generates approximately 6.95 million tonnes of textile waste, equating to about 16 kilograms per person. Alarmingly, only 12% of this waste is properly recycled or reused, with the majority ending up in landfills or being incinerated.

To combat this escalating issue, the EU has introduced new regulations requiring textile producers to take responsibility for the collection and recycling of clothing, ensuring that even online retailers outside the EU comply.

How borrowing and pre-loved fashion can reduce waste

We don’t need to own everything we wear. Borrowing, renting, and choosing pre-loved clothing can significantly cut textile waste. Here’s how:

Borrowing for special occasions. Formalwear is often worn only a few times. Instead of purchasing new, borrowing from friends or neighbors saves money and reduces waste.
Choosing pre-loved fashion. Platforms like The Volte allow individuals to rent out their wardrobes, extending the life cycle of garments and promoting sustainable fashion choices.
Hosting clothing swaps. Organizing events where community members exchange clothing items gives garments a second life and refreshes wardrobes without additional consumption.
Repairing instead of replacing. Simple fixes, like sewing a missing button or patching a tear, can extend the life of an item by years.

Small shifts, big impact

Imagine if every person in Europe borrowed, rented, or bought pre-loved instead of purchasing new just once a year. This collective action could keep millions of garments out of landfills and reduce the demand for new clothing production.

The good news? The second-hand fashion market is growing rapidly and is expected to double in size by 2030.

More people are turning to borrowing, renting, and swapping instead of buying. It’s time to rethink how we consume fashion—starting with that next big event.

Sources

Innovation Origins
Europe’s looming textile waste challenge: urgent action needed

Financial Times
EU cracks down on fast fashion and food waste

The Guardian
Like Airbnb but for clothes: how to make money by renting out your wardrobe

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Meet ivault’s new CMO, Earl Flormata

Remy Van Donk — Wed, 05 Feb 2025 08:40:50 +0000

ivault is growing—Meet our new CMO

By Remy van Donk – 1 minute read

We’re excited to welcome Earl Flormata as the new Chief Marketing Officer at ivault. With over 15 years of experience in app marketing, Earl has played a key role in the success of multiple high-profile apps, delivering strong growth, user engagement, and revenue results.

Since joining ivault, Earl has rapidly optimized our marketing and social media strategies, leading to record-breaking KPIs within just a few months. His leadership is driving:

A stronger, data-driven marketing approach for improved campaign performance
Enhanced community engagement, bringing more users into the ivault ecosystem
Streamlined content and social media strategies for consistent brand messaging
Optimized paid advertising to maximize reach and token adoption

His expertise is already elevating ivault’s market positioning, and we’re just getting started.

Learn more about Earl’s work: earlflormata.com

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Why we buy what we buy

Remy Van Donk — Tue, 17 Dec 2024 09:24:34 +0000

Why We Buy What We Buy

By Remy van Donk – 5 minute read

The Neuroscience of Happiness and How Sharing Can Change the Game

At some point, we’ve all experienced that fleeting rush of pleasure when we hit “buy now.” Maybe it’s a new gadget, a pair of shoes, or even something as trivial as a trending kitchen tool.

But where does this impulse come from? Why do we keep buying things we don’t always need, and does it truly make us happier?

Neuroscience offers surprising answers, and the concept of shared ownership could provide a powerful alternative—one that benefits not only our brains but also our communities and the planet.

The Brain on Buying: A Dopamine-Driven Cycle

When we anticipate buying something new, our brain releases dopamine—a neurotransmitter associated with pleasure and reward. This anticipation is the key: research in neuroeconomics shows that the brain gets its biggest dopamine hit not from the act of purchasing but from the expectation of reward itself. As one study explains, dopamine pathways light up when we think about acquiring something new, even if the long-term emotional payoff of the purchase is small or nonexistent.
This “reward-seeking loop” creates a cycle. We feel excitement imagining how a new product might improve our lives, but once we own it, the thrill fades quickly. Behavioral economists call this the “adaptation effect,” where our brains normalize possessions over time, and we begin looking for the next shiny object.
The problem? The short-lived joy of buying often leaves us with clutter, stress, and financial strain—not the sustained happiness we crave.

Black Friday 2024: A Case Study in Spending

This phenomenon was on full display during Black Friday 2024. Consumers worldwide spent record amounts, highlighting the dopamine-driven cycle of anticipation and reward.

In the United States, online sales reached approximately $10.8 billion, marking a 10.2% increase from the previous year.

These staggering figures illustrate the immense global scale of consumer spending during events like Black Friday—and how temporary this spending satisfaction often proves to be.

Buying Happiness: A Misleading Pursuit

According to neuroscientists, happiness is more closely tied to experiences, social bonds, and purposeful actions than material goods. Studies repeatedly show that spending money on shared experiences—like traveling with friends or hosting gatherings—produces far more happiness than buying physical objects.

This is because experiences are tied to memories, relationships, and identity, while physical possessions often lose their emotional value over time.

Similarly, engaging in acts that connect us to our community—like lending a neighbor your lawnmower or sharing tools with friends—activates the brain’s reward systems in a more enduring way. Functional MRI scans show that helping others stimulates the same brain areas as receiving a reward yourself.

Shared Ownership: An Alternative that Benefits the Brain, Society, and Planet

The rise of peer-to-peer sharing platforms introduces a modern solution to an age-old challenge: how to meet our needs without overconsuming. Shared ownership or item rentals—borrowing camping gear, renting tools, or lending out rarely used items like electric drills—provides a more sustainable and satisfying alternative to buying new.

How Shared Ownership Aligns with Neuroscience:

1. Community Connection:
Sharing builds trust and strengthens local relationships. When we lend or borrow, we engage with others in a cooperative way—triggering oxytocin, a hormone linked to bonding and emotional well-being.

2. Reduced Decision Fatigue:
Buying involves research, comparison, and decision-making, which can deplete our mental energy. Renting or borrowing eliminates these burdens, freeing up cognitive resources for more fulfilling activities.

3. Purposeful Ownership:
Sharing allows us to derive deeper meaning from our possessions. As Jia Li, a DJ who rents out her equipment to young musicians, notes in the ivault whitepaper:
“Sharing jives with the sustainable lifestyle I want. The world doesn’t need more things—we just need to use them smarter.”

4. Sustainable Pleasure:
Knowing that shared ownership reduces clutter, waste, and carbon emissions adds another layer of satisfaction. Each borrowed item replaces a new purchase, cutting manufacturing waste and resource use.

A Shift in Perspective: From Owning to Sharing

Consider this example: a power drill is used, on average, for just 13 minutes in its entire lifetime. Yet millions of people buy new drills every year. What if, instead of owning one, you could rent a drill for a few euros from someone nearby? It’s cheaper, more efficient, and socially rewarding.

Apps like ivault, which enable peer-to-peer sharing and borrowing, demonstrate the potential of this shift.

By connecting people within communities and ensuring items are shared securely using blockchain technology, platforms like these offer a way to unlock value in things we already own.

Instead of contributing to overproduction and waste, they help build a “shareconomy” where fewer resources are used and more meaningful interactions take place.

Happiness Beyond the Shopping Cart

If we look deeper into what truly makes us happy, the neuroscience is clear: dopamine-fueled purchases offer short-lived pleasure, but connection, purpose, and contribution provide lasting fulfillment.

Shared ownership taps into these deeper rewards while addressing some of our time’s most pressing challenges—like overconsumption and environmental degradation.

The next time you find yourself reaching for the “buy now” button, pause and ask:
Can I borrow this? Can I share it?
You might find that the path to happiness isn’t in acquiring something new but in connecting with the community around you.

As we shift from endless ownership to thoughtful sharing, we’re not only enriching our lives but also taking a small but meaningful step toward a more sustainable future—for ourselves and our planet.

References:

• Neuroscience News: The Brain’s Shopping Pathways and Dopamine Loops
• Norton, Michael. Happy Money: The Science of Smarter Spending.
• ivault Whitepaper: www.ivault.io
• PWC Report: The Sharing Economy’s Global Growth

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