Panini Blockchain National Treasures Cards Bring Traditional Sports Trading Cards to Blockchain Crypto Collectibles
by R.A. Rowell
In a landmark move in the trading card industry, sports card giant Panini America announced that they will be producing a 100 card blockchain collectible set of one of one cards featuring sports legends new and old in baseball, basketball, football, hockey, and soccer. Not only will these Panini blockchain cards exist on a private Panini-owned blockchain as non-fungible tokens, but the purchase comes with a physical copy, as well. Some of these cards feature autographs and relics, as well. They began selling as Dutch Auctions on the Panini America website in January 2020.
The checklist includes sports legends such as Honus Wagner, Mickey Mantle, and Barry Sanders, plus newer stars including Patrick Mahomes, Lamar Jackson, Shohei Ohtani, Aaron Judge, Zion Williamson, Cristian Pulisic, Kaapo Kakko, and many more. The set resembles Panini's widely popular National Treasures design.
The big knock so far against these blockchain trading cars is that they will not be “living” on a popular blockchain such as Ethereum. These Panini blockchain sports cards will exist on a closed blockchain network owned by Panini. This has led some collectors to call this innovation a gimmick or even going as far to call it a “scam.”
While I would hardly call it either of these things, the consumer concern that access could be lost to these items for whatever reason is a genuine one. While there is the physical counterpart, the thinking is that the price of the auction will be driven up by having the digital asset in addition to the physical one.
Obviously, this is all a big experiment and there are advantages to a dedicated Panini blockchain. How exactly it will all work isn’t drawn out at this time, but one would think anyone with the private keys can access the network like with any other blockchain. Panini announced that it plans to roll out addition blockchain counterparts of cards in other upcoming sets, as well. It will be curious to see how much the redemption codes for these “blockchain editions” will sell for alone and just how many collectors will buy into the blockchain collecting plan.
There is definitely a division in the sports card collecting community on this announcement. Many people aren’t thrilled about the digital counterpart and really just want the physical card. It will also be interesting to see how Panini’s rivals Topps and Upper Deck respond. It seems that these are a huge step up from other digital collection apps, even if they exist solely on a private blockchain - the cards themselves are separate from a single website or app and could be interacted with in multiple ways.
Panini already has digital card apps, so it will be interesting to see how these and other blockchain cards end up interacting with current and future mobile apps. What we do know is that the digital blockchain card is a separate entity from the physical card, so the winner of the auction can sell just the digital card on Panini’s new marketplace and keep the physical card.
(Note: there are fees to using Panini’s public auctions for blockchain cards. They are 10% for $.01 to $5,000.00, 7.5% for $5,000.01 to $10,000.00, 5% for $10,000.01 to $50,000.00, and 2.5% for over $50,000.01.)
Speaking of the card auctions, Panini launched the auctions in January 2020 as Dutch auctions beginning at $100,000 USD each. Yes, that’s an absurd number, but keep in mind that you get both the physical and digital card, which is a National Treasures Blockchain one-of-one. When you factor in selling the digital copy VS the potential value of the physical copy, $100,000 may be not as silly a price as it sounds now.
You can see the National Treasures Blockchain card auctions at Panini America here. As cards are sold, we’ll be sure to write about these landmark trading card sales.
What do you think of these Panini blockchain developments? Are these 2019 Panini National Treasures Blockchain cards going to become long-term investments?
More to come.
In our regular Roundup series, we’ll be sharing some of the latest news and insights about digital collectibles, cryptocurrencies, and blockchain tech from the past few days. We’ll also add some of our own commentary. If there’s a link you believe should be included in one of our Digital Collectibles Roundups, let us know!
Gods Unchained mythic card sold in $31,000 auction - Story from Nederob.nl
While it’s not Gods Unchained’s most expensive card ever sold at auction - that honor still belongs to Hyperion at around $60,000 - Atlas is the first one-of-a-kind mythic rare card that a player has sold at auction. The $31,000 sum - or 210 ETH at the time - was acquired by selling the card as a digital asset on OpenSea. Notably, this same buyer has purchased $14,000 worth of other Gods Unchained cards. The other Gods Unchained unique mythic cards - Hyperion, Teyhys, and Prometheus - remain with their original owners as of this writing. Clearly, the Gods Unchained trading card market is already thriving.
Speaking of blockchain trading card games…
‘Game Changer’: Trading Cards Head to Blockchain to Transform Gameplay - Story from CoinTelegraph
While Cryptomages is another blockchain trading card game, it’s very different in gameplay than Gods Unchained. It actually has multiple battle modes and many different characters in an EXP-based trading card system. What’s interesting about Transcemdence’s game is that it’s powered by two separate blockchain networks: the TELOS blockchain for payments and the BitcoinSubsidium blockchain for the storage of the cards (NFTs) themselves. It’s going to be available on many mainstream platforms: Windows, Linux, MacOS, iOS, and Android. It’s a game worth watching.
Microsoft Validates Enjin’s Tech, Launches Azure Heroes - Story from AltCoinBuzz.io
Enjin gets their biggest partner yet, about as big as you can get in tech with Microsoft. Azure Heroes is Microsoft’s first official foray into digital collectibles, backed by ENJ - Enjin Coin. It’s a huge step forward for the Ethereum-based gaming platform, but Azure Heroes is more of a rewards system than an actual game, per se. People get stds from coaching, creating demos, and blogging about the Azure cloud computing service - essentially rewarding contributions to the tech community, But, what it does do is expose Enjin and its stable of games to a brand new and much larger audience thanks to Microsoft’s involvement. These rewards tokens could become nifty little digital collectibles investments as Enjin’s platform grows.
WAX (WAX) Launches Its Blockchain Gaming-Focused Cloud Wallet - Story From SludgeFeed
Wallets are the way to securely store all of your various cryptocurrencies and blockchain collectibles. But, there are so many to choose from, and to support all the various cryptocurrencies and tokens you acquire, you may end up having to keep track of many different wallets. While many companies are releasing innovations to crypto wallets all the time, the WAX blockchain network has launched one that’s focused towards blockchain gaming. It features two-click account creation and a simple interface to interact with the WAX dApps (decentralized Apps). This should go a long way towards WAX gaining popularity with a more mainstream audience than Ethereum or EOS.
Stryking opens auction for FC Bayern Munich crypto collectible NFTs - Story from @crypto_ninjas
In the wake of Sorare’s success with blockchain soccer trading cards, Stryking has now officially entered the fray with their FC Bayern Munich player card NFTs. However, these 18 player cards are one-of-a-kind. Stryking already has their [p[ular fantasy sports platform Football-Stars, but this is their first official foray into the blockchain collectibles market. There’s already plenty of bidding going on. It will be interesting to see what these initial one-of-ones will sell for auction’s end.
Any other blockchain or crypto news we should know about or any comments? Leave them below!
by R.A. Rowell
The developers at Immutable have watched their trading card game Gods Unchained explode in popularity. Certainly the PR gained from supporting Hearthstone players vocal about the Hong Kong protests was a major boost. But, the game has blown up mostly on its own merits. The Hearthstone like card game is fairly easy for TCG experts to learn and offers a relatively easy learning curve for newcomers.
The real draw beyond its free to play options - which big name online TCGs like Magic the Gathering Arena and Hearthstone already have - is the chance to earn actual assets on the blockchain. Gods Unchained promised an in-game marketplace, which has since launched, where players have true ownership of their cards and can trade them freely. MTG Arena and Hearthstone don't do that.
Yes, Magic the Gathering Online has long allowed you to freely trade assets within its platform. There are then workarounds to turn those assets - through the use of cleverly programmed chatbots - that allow you to turn them into PayPal cash. But those assets only exist on MTGO. Gods Unchained cards are true ERC-721 non-fungible token assets that exist on the Ethereum Blockchain - true crypto collectibles. These non-fungible tokens can be bought and sold separate of Gods Unchained on non fungible token marketplaces like OpenSea.
To say the Gods Unchained Marketplace has succeeded is an understatement. The marketplace generated over 500 ETH in transactions in its first few hours. Now, Gods Unchained has greatly surpassed former ETH transaction leader MyCryptoHeroes on OpenSea. Of course, seeing this sort of activity from a GAME with literally millions of assets being deployed and so much Ethereum and so many tokens changing hands, you wonder how sustainable it will be.
Unfortunately, sustainability may have nothing to do with the game itself, but the very blockchain it has committed to.
Is the success of Gods Unchained sustainable on the Ethereum Blockchain?
Unfortunately, the success of the in-game marketplace may be tempered by a larger problem with the Ethereum network. The problem emerges from high congestion days on the network which lead to high transaction fees, known as "gas" fees which have spiked as high as $30 per transaction. For their part, the Gods Unchained team does its best to lump transactions into as few actual Ethereum transactions, as possible. But it should be noted that many of the congestion issues come from other ERC-721 NFT transactions and DeFi (Decentralized Finance) movements. In particular, a recent drop in the price of ETH triggered many automatic liquidation requests.
Of course, you can't have a trading card game like Gods Unchained (or any popular Decentralized App, really) with the threat of such outrageous transaction costs. It will be interesting to see how the network evolves to counteract these congestion times. Gods Unchained itself may not be the reason, but if Immutable has to eat fees like that to operate, there's going to be problems.
Trading card games on other blockchain networks such as Steem and TRON haven't experienced these issues. Of course, those games haven't reached the popularity of Gods Unchained, but those networks are known for their superior scalability. It makes you wonder how sustainable massively popular games can be on Ethereum, which has been a worry for quite sometime. It's certainly now becoming a legitimate concern.
Do you think Gods Unchained will inevitably succeed on Ethereum? The game has already committed to the network. But will it eventually outgrow Ethereum and have to migrate elsewhere? Time will tell. But, for now, Gods Unchained is succeeding in what it was meant to do - become a massively popular trading card game. Let's hope the evolution of the Ethereum network can catch up.
An In-Game Gun from Dissolution Sells for $2,400 - What's Next for Blockchain Gaming Digital Collectibles & Non Fungible Tokens (NFTs)?
by R.A. Rowell
In 2019 alone, the blockchain gaming world has been a news maker, especially thanks to the high-dollar sales of various NFT's (Non-Fungible Tokens) usable in actual gameplay. The Digital Collectibles Journal has commented on thousands of dollars worth of Ethereum changing hands for playable digital items in Crypto Space Commander and F1 Delta Racing. Now, another notable sale as been made, a $2,400 gun - a "God Tier" called the MAR-4 "Wrath of Seth." It comes from the Enjin-backed Steam shooter game Dissolution, as chronicled by the excellent blockchain gaming blog Nederob.
What's particularly interesting about this sale is who bought it. While the buyer has remained anonymous, the blockchain has identified some interesting aspects about the purchasing party. According to Nederob, the buyer was a Binance cryptocurrency trader who made a point of transferring 20 ETH to a new Ethereum wallet which was used to bid on the Dissolution item. The bidding ended at 13.3 ETH, but clearly, the bidder was willing to spend more on this unique item.
Why is a Cryptocurrency Trader Buying In-Game Digital Collectibles Interesting?
Cryptocurrency traders have been buying Non-Fungible digital collectibles for awhile. That's because they are useful as storehouses of value. Just like traditional collectibles are often treated as part of an investors portfolio, so can Non-Fungible Tokens. What's interesting about this transaction is less the number - which is significant - but the reason for which it was purchased. Because in-game digital collectibles have actual utility, they have value beyond the simple value of the cryptocurrency used to purchase them.
Very early on in the development of the Digital Collectibles Journal, I foresaw not just gamers getting in on digital collectibles. Of course, the cryptocurrency trader may have intentions of using the item as intended. But, clearly the purchase was made as an investment, banking on the growth of the Steam shooter Dissolution.
But the item was part of a "God Tier" auction. So, it represents more than simply a piece of in-game gear. It gives the owner custom animations, particle effects, and sound effects forever imprinted into that gun. It's a unique In-Game status symbol, not just a gun.
The original auction page has since disappeared on OpenSea. It appears So, it will take some digging to learn more. But, Dissolution is certainly a game of interest to us when it comes to digital collectibles. More to come on the fate of this "God Tier" item and other high priced Dissolution collectibles.
by R.A. Rowell
For digital collectibles enthusiasts like myself, Mintable.app is a godsend. It allows you not only the ability to display and interact with crypto collectibles you already own, but also an easy way to mint your own! Previously, you had to know how to code NFTs (non fungible tokens) along with smart contracts and deploy them yourself. Mintable gives you a way to do all that easily without you having to code anything. You can even create your own Non-Fungible Tokens in bulk, drastically cutting down on the transaction fees (know on Ethereum as gas) usually related to minting. The fee is only $1 a piece, and currently you can bulk up to 40 tokens at a time.
The Digital Collectibles Journal became aware of Mintable through a news feature involving their Mintable's new partnership with Jetcoin Institute. Jetcoin is working on tokenizing up-and-coming talent in the sports and entertainment business. They already have a "Jetcoin Champion" by the name of May Myat Noe, a supermodel superstar on the rise. Using their platform, Jetcoin is working to serve as a launchpad for the careers of many up and coming sports and entertainment stars.
These blockchain-powered digital collectibles are different from your traditional collectibles in that they are tokens on the Ethereum Blockchain. These tokens use the ERC-721 smart contract protocol which has become a standard for blockchain collectibles. It's the sort of token used for CryptoKitties, Gods Unchained trading cards, and more.
While NFTs are still a tiny percentage of the collectibles market overall, they are quickly on the rise. They may not have the appeal among traditional collectors that say autographed sports cards and vintage baseball cards do. But, to many young forward-thinking investors, due to their immutability and provable authenticity, they are the future of collecting. The market cap of NFTs as collectibles is expected to grow into the billions within the next decade or so.
Many people are aware of the volatility of cryptocurrency and how one crypto coin can go from zero to a lot of money and back to zero in a hurry. But, with NFTs on established blockchain networks like Ethereum, EOS, TRON, and Steem, you can invest in crypto without taking on the risks of the native crypto coins. Now, with Mintable, you can essentially create your own crypto collectibles at will for a very small fee with zero programming knowledge. Of course, being on the massively popular Ethereum blockchain, you can freely trade them as you wish. This includes selling them on popular blockchain collectibles marketplaces such as OpenSea.
The Jetcoin partnership is just one high-profile example of what Mintable is setting out to do with their token creation platform. Now, any content creator can create their own tokens, either as a way to raise funds, create unique collectibles, or both. Of course, digital artists can use this platform to easily deploy their crypto art. Game developers can now more easily mint and deploy in-game items, too.
Mintable is going to be a revolutionary force in crypto collectibles, making it easier than ever to create NFTs for the world to enjoy. Certainly, we will see many more partnerships with Mintable to help bring the platform more exposure. With a growing, bullish market for blockchain collectibles, there’s going to be plenty of demand for what this platform offers. Imagine memorabilia for sports and entertainment being bought and sold from your phone, which is what teams, bands, and media companies are now able to do for a fairly low cost. At the end of the day, Mintable is a platform that will change the landscape of digital marketing forever.
How would you use the Mintable.app platform?
by R.A. Rowell
Thanks to a follow from their Twitter account, I discovered KnownOrigin.io, a marketplace for original digital artwork from top digital artists and illustrators. Using the Ethereum blockchain, buyers can collect their favorite pieces knowing that the work is one of a kind and a true digital asset. Digital artwork has been gaining more of a market on the blockchain, and KnownOrigin has plenty of artists with excellent works on offer.
The great news about KnownOrigin is that you can purchase items from the marketplace with either ETH (Ether cryptocurrency) or with a credit or debit card. So, if you're short on crypto, no worries! You can make offers on pieces you like for as little as 0.01 ETH or just few US dollars. Of course, you'll need an Ethereum wallet to store your digital artwork as non-fungible tokens, but many great and easy options exist for that. (I use Enjin Wallet on mobile and MetaMask on PC.)
Another cool feature of the KnownOrigin site is you can see the latest activity on the site, which is updated every 5 minutes. This shows you when a listing is created, a bid is placed or refunded, or if a price change occurs. That's a really nice feature of decentralized blockchain collectible marketplaces: transparency.
How Popular is KnownOrigin.io?
KnownOrigin began in early 2018 with just a concept and it took off quickly. The KnownOrigin project began with a simple concept: "Can we use the power of Ethereum blockchain and the integrity of digital assets in the art world to improve the proof of ownership, provenance, authenticity, and reducing forgery of artwork?" It was a success, deploying to the Ethereum mainnet in April 2018.
As of late October 2019, KnownOrigin has about 10 to 20 daily active users (DAUs), peaking at about 5 ETH in daily trading volume. The user base is slowly growing. There's been a lot more steady trading activity lately in the second half of 2019. Pieces appear to be trading hands daily. As the investment interest in digital artwork grows, I'm sure that volume is bound to increase!
If you like collecting digital artwork, definitely go check out KnownOrigin. It seems like a great way to get started in crypto collectibles, since you can use your favorite fiat currency (such as the US Dollar or Euro) by credit/debit card to purchase. If you’re a digital artist, it could be a great way to be compensated for your work. This is definitely a cool project and one the Digital Collectibles Journal will be happy to follow.
Have you ever bought and sold digital artwork on the blockchain?
DappRadar Adds Tracking for EOS and ERC-20 Non-Fungible Tokens - With Other Ethereum and TRON Blockchain Token Tracking to Come!
by R.A. Rowell
If you're into blockchain gaming and Decentralized apps (DApps), you definitely want to follow DappRadar. This website tracks the daily and total volume of the native crypto currencies used by DApps on several blockchains, as well as those DApps user bases. Currently, DappRadar tracks the blockchains for ETH, EOS, TRON, IOST, LOOM, ONT, Thundercore, and VeChain.
In mid October 2019, DappRadar added full non-fungible token tracking to its EOS DApp tracking. This is important since many apps use tokens based in their native cryptocurrencies, especially blockchain games. The results yielded a wealth of information about EOS based DApps.
Of course, the information isn't just limited to games. One of the biggest discoveries from the addition was actually related to NeoDex, a decentralized digital assets trading platform. Previously, DappRadar had tracked $1.8 million in EOS transaction volume per day. That's impressive, but with the new non-fungible token tracking, it was discovered that the platform generated an additional $1.6 million in token-based transactions daily. That's a huge jump.
Why should blockchain gamers care about the trading volume of non-gaming DApps? The health of other apps on your favorite blockchain is important. Also, knowing which tokens are trading with significant volume is important for digital collectors more interested in the crypto itself than the actual games.
Of course, the DApp token tracking did reveal information about EOS-based games such as Prospectors and EOS Knights. Since Prospectors uses PGL and not straight EOS, its transaction volume wasn't shown. But, as of this writing, we now see PGL gets about $3000 worth of transaction volume a day. That doesn't sound like much, but it's pretty good.
What's most exciting is that this full token tracking will soon be rolled out for Ethereum and TRON based DApps as well. They added ERC-20 non-fungible token tracking in November 2019. DappRadar will then be able to provide even more insights on the true health of various DApps. This transparency is one of the true hallmarks of blockchain technology. If you want to see how well, or not well, a particular DApp is doing, you can always find out. Kudos to the DappRadar team for bringing all this information to the mainstream!
Head on over to DappRadar and find your favorite DApps and see how they are doing! You may be surprised by what you find!
Will Blockchain Powered Scavenger Hunts Become a New Normal Marketing Scheme for Sports and Other Entertainment?
by R.A. Rowell
The blockchain-happy NBA Sacramento Kings are taking their blockchain rewards program to a new level with a line of unique collectible toys created by CryptoKaiju having a digital blockchain counterpart. While these toys are physical, each is absolutely unique and they come with an encrypted NFC chip that gives the owner a non-fungible token (NFT) which is authenticated on the Ethereum blockchain. Some of these tokens - 15 of them to be exact - will also offer the owner of that collectible actual team-related perks such as court-side seat tickets, VIP tours of the Kings arena, autographed team merch, and meet-and-greets with Kings players.
These physical keepsakes with digital blockchain counterparts are a first in sports. The Los Angeles Dodgers gave away 40,000 digital Dodgers bobbleheads to attendees of a Dodgers game. But, those exist purely on the blockchain, while the Kings collectibles have a physical counterpart. The attraction of monthly scavenger hunts to find and own these extremely limited edition blockchain-backed keepsakes may entice other sports teams, and other entertainment venues, to follow suit.
If blockchain collectibles are to go truly mainstream, having physical items which themselves are unique and have a digital token that’s equally unique are probably the way to go. Some of those that end up with these collectibles probably just want the one-of-one physical item and may not care about the digital token that comes with it. But, because there are potentially valuable rewards related to authenticating ownership of that token, like what the Kings are offering, owners are going to be strongly compelled to dip into the Ethereum blockchain world to see if they’ve won something.
Imagine the marketing possibilities of scavenger hunts for collectibles like these could do for really any brand or company. Even if they are simply codes that unlock an NFT, it could revolutionize marketing forever. Already, there are companies like Reewardio helping businesses create blockchain-powered rewards programs. The Kings have already created one and it’s likely that the L.A. Dodgers are going to follow suit sooner or later. Before I’ve written about how blockchain collectibles are set to revolutionize game marketing. Now, the Kings are setting a precedent that I’m sure other entertainment companies are going to follow within the next few years.
This development of unique physical toys with digital blockchain collectible counterparts is exactly why I’m so excited about the emerging digital collectibles market. Blockchain technology takes digital collecting to a whole new level of true asset ownership with no possibility of counterfeiting and making worldwide transactions of these items inexpensive (or even free) and easy. Not only are these digital collectibles easy to collect with none of your own storage space necessary (except for the wallet apps on your devices), but they are truly your own and exist as true virtual assets.
With collectors of physical items creating their own portfolios on a regular basis, it won’t be long before producers of these collectibles create blockchain-backed counterparts for them.
From trading cards to collectible toys to bobbleheads, digital blockchain collectibles are here to stay. The possibilities are endless. Which brands do you hope to embrace this new revolution in digital and physical collectibles joining forces?
by R.A. Rowell
It was only a matter of time before there was a way to buy in-game items and earn crypto from games using the wildly popular Unreal Engine. What gamers likely didn't anticipate is what cryptocurrency would be used. It's not an Ethereum based cryptocurrency being used. Instead, the developers of the Nano blockchain are the ones to come up with this new plugin for Unreal games.
You may be asking, what's NANO? NANO is an interesting cryptocurrency which you can learn more about at CoinMarketCap. One of NANO's main selling points is how it's distributed. Each user account receives its own blockchain. Per CoinMarketCap:
"Nano is reportedly able to offer fast and feeless transactions due to the Block Lattice - a data structure in which all accounts each have their own blockchain, rather than competing with others on a central chain."
Because of the nature of NANO's system, the inefficiencies of other blockchains such as Ethereum don't exist. Popular blockchain games have been known to congest the main networks of other blockchains. These congestion periods lead to high transaction fees, sometimes eaten by the developers but inevitably passed on to gamers, as well. That won't happen with NANO.
What's cool about this plugin is that Unreal Engine 4 developers can literally allow their players to earn Nano crypto by killing monsters. Other ways gamers can earn nano is by discovering loot boxes or watching in game advertisements. There's also the possibility of trading funds and items in the game itself.
The other thought that the Nano plug-in developers have is to create more of a pay-per-play subscription model for games. That way gamers only pay for the actual time they play, but with a chance to earn it back. It would give developers the chance to provide better incentives and in-game rewards for players. Also, no more shelling out $60 for a game or paying a monthly subscription with no chance of recouping it.
Another interesting point that's been brought up is the ease of topping off accounts for child and teen gamers. You don't have to worry about leaving your credit or debit card open to unforeseen charges. It's all done with Nano cryptocurrency.
One thing that wasn't mentioned was that crypto gaming could actually be seen as a reward for good behavior or excellent grades at school. It's also good because kids then have to earn their game time. Of course, that could lead to kids actually earning a good amount of money from gaming… which is why a pay to play model for game time could help.
What if your kids get so good that they earn enough to keep playing indefinitely? Well, teaching kids to earn their own way is a good thing. Just make sure they don't get too carried away, but maybe pro crypto gaming is in their future…
Anyway, these developments from NANO make them an interesting contender in blockchain gaming. This will definitely be a project to watch closely and potentially a very good thing for hodlers of NANO. What do you think of this news? Backed by such a powerful game engine, it's all up to the game makers to provide some sweet games.
by R.A. Rowell
While Opensea.io has been a great site for trading blockchain collectibles - also known as non-fungible tokens or NFTs - on the Ethereum blockchain, there’s a new player in town in Auctionity. But, there are some things about Auctionity that make it more than simply a new marketplace for NFTs, the most important of which is the existence of auctioneers and referrers on the platform. Now, you don’t have to be alone in trying to sell a valuable blockchain collectible, as you can give up a portion of the sales price to those helping you to sell your item.
This is a pretty cool concept that Auctionity is pioneering for digital collectibles. Of course, referrers have been around for years on a wide variety of platforms. But, Auctionity takes selling digital collectibles to a new level, eclipsing traditional referral programs and affiliate programs with their auctioneer program. The difference with Auctionity’s auctioneers is that they aren’t like your typical consignment dealers like on eBay - they are like actual auctioneers who promote your item for a piece of the profits.
Castle Crypto already has done a great review and overview of Auctionity, which was the piece that led to this article being written. Tom Blackston did an excellent job of highlighting what Auctionity auctioneers do. They not only create “evocative descriptions,” but also video presentations.to help the item become more appealing to potential bidders. These auctioneers get 50 percent of the community reward when an item sells.
So, what’s the community reward? When a seller lists an item on the Auctionity marketplace for bids, that seller chooses a community reward amount, which can range from 1 percent to 50 percent of the item’s final sale price. The auctioneer gets half of that amount, while the rest is divided up between referrers, who share the item for it to gain exposure. Of course, we all know what referrers are, but the difference here is that these referrers are literally like a marketing team for the seller. It’s the seller who chooses the level of marketing that they want for their item, and that’s what cool about this platform. Also, sellers can choose to offer no community reward at all and market the item all themselves.
While Auctionity isn’t the first platform to have auctioneers and referrers for its auction, as far as an online peer-to-peer selling platform is concerned, it probably is. This is going to be a great model going forward to sell non-fungible tokens, and I hope that Auctionity succeeds. The platform is still in its early stages, but with its own separate Ethereum test network for taking bids and unique marketing features, it’s well on its way to being a success.
Auctionity already has its own native cryptocurrency called DRT, although you can still buy and sell using Ethereum Ether, as well. What’s important about DRT - DomRaider Tokens - is that holding them allows you to be an auctioneer. Essentially, the more DRT you have, the more chances you get to be an Auctioneer. It’s a pretty cool system.
You can start buying and selling on Auctionity today! All you need is a MetaMask wallet browser extension - in order to be able to use the special ETH network Auctionity uses for bids. Then, all you need to buy is some DRT or ETH and to sell just have an Ethereum-based NFT item to sell. Tom of Castle Crypto said Auctionity is a bit more difficult to use than the popular OpenSea, but that you should be up and ready in about 20 to 30 minutes.
I agree with Castle Crypto’s opinion that Auctionity is best used for higher-value collectibles that may not fetch the best prices on OpenSea. Having a marketing team of your peers to help sell your items is pretty awesome - everyone benefits from you selling your items and not some big platform like eBay. Of course, if you have a more average collection, it’s fine, too. Auctionity should become a pretty awesome ecosystem for buying and selling digital blockchain collectibles.
What’s your experience with buying and selling blockchain collectibles?
R.A. Rowell is a collectibles enthusiast who comes from a long history of collecting trading cards in both sports and in Trading Card Games. He is passionate about educating the world about the future promise and benefits of digital collectibles, both on the blockchain and off.