by Mat Dirjish
Clearly, non-fungible tokens (NFTs) and blockchain technology are changing how people buy and sell art and other collectibles. Via NFTs, artists and musicians have a unique way to monetize their art, collectors have access to a much wider range of collectibles, and investors have access a wider pool of buyers.
However, like most “unique” buy-sell-invest schemes, standard NFTs come with a bit insanity, perhaps a good dose of inanity as well. For example, an investor paid $100,000 for a pair of heritage ceramic vases on a the Coinllectibles Fusion NFT marketplace. Allegedly, this was almost twice the item’s valuation price.
The investor immediately resold the ceramics on the secondary market for $150,000, making a $50,000 profit. The new owner then sold the pieces for $250,000, representing a profit of about $100,000. The ceramic items are currently on sale for $289,000 on the Okex marketplace.
Upon observing this development, Joseph Morton from Equity.Guru states this could be a “game of greater fool hot potato.” Personally, looking at these two vases, I see some high-end boobery afoot, but I digress.
While odd buying/selling trends like the above may occur with regular NFTs, Coinllectibles’ Fusion NFT offers an alternative and ventures forth to add value to the collectibles market…here’s how.
Unlike regular NFTs where buyers only get a digital asset, Fusion NFT buyers get both the digital tokens and the physical collectible. Buyers not only get to buy and sell the digital non-fungible tokens online; they are also able to enjoy the items in the real world.
To provide ownership security and provenance, Coinllectibles employs state-of-the-art 3D imaging technology to authenticate and provide provenance for the collectibles. The company also embeds microchips in the items. Third, Fusion NFTs also come with documentation to provide owners with legal protection.
Adding some fun to the mix, Fusion NFTs owners can take possession of the physical collectibles or put them up on exhibit in the first gallery for Fusion NFTs at K11 MUSEA in Hong Kong. Also, Coinllectibles is thinking of working with game producers so that Fusion NFT owners will also get to enjoy the items in an online environment.
Getting excited and moist about and over the wild world of NFTs, but yearn for higher knowledge and illumination? If so, yearn no longer. Pay a visit to Coinllectibles.