We've all collected something. Be it old travel tickets, baseball cards or special edition sneakers. Rarity and authenticity can turn pretty much every physical object in a precious store of value, and this isn't news.
Collectors have, however, struggled to find their space in the digital dimension. After all, one of the most exciting premises of the Internet revolution was the replicability and ready availability of all sorts of content and assets. Until bitcoin rose from the ashes of previous cryptocurrency projects, the idea of digital accountability was derided.
Enter NFTs. Admittedly not the most newbie-friendly concept, these assets are bound to be lot more familiar than you'd think. Nothing named by an acronym will ever appear of easy uptake, but Non Fungible Tokens are not as scary as the moniker implies.
For something to be called 'fungible', it needs to be something that can replace or be replaced by something virtually identical. For example, the way the value of a dollar bill and another identical dollar bill are the same. Or the way 1 satoshi is worth just as much as any other satoshi. And unlike a shining Charizard card or a Modigliani.
NFTs propose to take the place of Modigliani artwork the way Bitcoin wants to replace Gold and precious metals. And while that proposition might seem wishful thinking to the uninitiated, this has already been happening for a while.
The groundwork was laid by websites such as the now famous Cryptokitties. The blockchain-based service, which allows users to buy, create and sell virtual cartoonish cats, has already created its own art market. The kittens went from being distributed for free or fractions of a dollar to being valued over $140,000 each and partnering with NBA superstars.
Once the underlying framework needed to guarantee authenticity and scarcity is up and running, the application possibilities are endless. NFT assets can and will replace all sorts of classic, physical tokens such as membership and discount cards, royalty contracts and event tickets. They will enable accountability and trust-based services across a variety of industries. Soon, ticket scalpers and art forgery will be a distant memory.
As with any other value model based on accumulation of wealth, the key to success is being early. And possibly, not spending your newly accumulated wealth on Domino's orders.
This time, you've done it. Ether.Cards is launching on the 4th of March. It will shift the paradigm on gamification of NFTs, creating a more engaging and entertaining experience for your cryptoart buyers. And that's not all: early birds will eat big. Our first limited batch of cards, the OG series, will have special discount and royalty rates, unmatched by future collections. Don't miss out.