Digible Introduces a New Era of Non-Fungible Tokens (NFTs)
Could anyone ever imagine that a virtual piece of art would cost as much as $70 million? Well, that would have only been a pure gold sculpture a few years ago. It gets pretty unimaginable when you do not receive anything tangible for all the millions, but instead, a piece of digital artwork. That was the case during Christie’s auction house when an NFT token sold for $69 million.
If you are not an adept follower of blockchain and cryptocurrency news, NFT translates to Non-Fungible Token. NFTs are essentially collectible digital assets created under Ethereum’s blockchain. They are a form of cryptocurrency but are a little different in that they cannot get exchanged. They are much of a virtual piece of art that holds value. The NFT feature that gives them such unimaginably high value is that they carry additional information stored in them. Experts are now pushing the NFT concept beyond the limits, and the team behind Digible is taking an early lead.
What is Digible?
Digible is the result of three co-founders Serge Pustelnik, Dan Pustelnik, and Alex Lubetsky. It is a non-fungible token marketplace that will be the first to have both the NFTs and physical or tangible rare collectible cards. Users will have the freedom to buy, sell, or even auction their rare collectible cards and receive them in the non-fungible token format.
The Digible Marketplace
The primary use case of the marketplace is to provide a platform where people can buy and sell physical cards without physically holding on to them. However, users who wish can receive their physical collectibles via their addresses. Each physical card will have its NFT version, backed by a physical asset. It will also feature a digital marketplace that excludes physical cards. Users can utilize this digital marketplace for any NFTs they have and trade them for their desired NFT.
Digible Project Astounding Features
The Digible project is a thought-out NFT marketplace that supports unprecedented functionality in the NFT and collectibles worlds. It forms a cornerstone where the two worlds meet to unlock new capabilities that mark a milestone from the 2017 CryptoKitties.
DIGI Token Presale
The Digible NFT marketplace project includes a token DIGI Token, scheduled to have a total supply of 100 million. The token’s presale went live on Thursday 22nd April: 15:00 UTC.
Digible tokens will be distributed equally between the development and marketing team, where each group will have a token supply of 10 million. 7.5 million tokens will be allocated to rewards, a further 15 million will go to pools, Pinpoint Seed will take up 16.5 M, private rewards will take up 4.7 M, the pre-sale will take up 24.5 M, and the remaining 11.8 M will provide liquidity.
DigiDuel and DigiStake
This feature on the Digible marketplace introduces a gambling aspect for NFT and $DIGI Tokens users. Users place their $DIGI Tokens and NFTs as a bet and choose a color. After the winning color is revealed, the winning player receives the loser’s $DIGI Tokens on the best plus the NFT. The platform deducts a 1% fee from the total bets, where o.7% goes to the staking pool while the rest gets burnt.
The DigiStake feature also involves staking $DIGI Tokens then receiving a percentage of what gets generated by the platform.
DigiSafe is the platform’s vault where the physical card collectibles will be secured if users choose to leave their collectibles on Digible. Users only receive a digital card in the form of an NFT. They can track the details of the physical card at any time using the digital version.
DigiTrack is a feature that will allow users to control their physical cards through the platform. Users have the option of storing it on DigiSafe or auction it on Digible when the value appreciates. Users who want to sell will do so via the Digi Auction feature, but they will have to hold a minimum of 3000 $DIGI. If a user wants to sell a physical card, they will send it to Digible. For NFTs, the NFT gets locked on the Digible platform over the auction duration while the platform handles the transactions.
The platform charges a 10% fee for auctions happening at the marketplace. Half of the amount goes to the staking pool, while the other half proceeds to Digible to take care of its operations and ensure its sustainability.
Users only need to log in to the wallet holding the NFT tokens and access their physical card collection. If they sell their cards, the NFT gets burned to avoid duplication problems.
The platform will feature this service for card inspection. Through DigiGrade, Digible will inspect each card and send it to PSA. PSA will be close to DigiSafe storage for officially grading the cards before proceeding to the online marketplace.
A single pair of DIGI/USDT will also be available for users who want to provide liquidity in Uniswap. Liquidity providers will receive the LP Token in return.
The launch of Digible, the first marketplace featuring physical collectibles, could spark the beginning of a frenzy in the NFT world. Christie’s sale was record-breaking in the NFT world, and the digital artist behind it felt that the world was on an NFT bubble already. Still, on Christie’s auction, an auctioneer thought the idea of NFTs made no sense, equating it to buying something that is not there. The introduction of a physical rare collectible card could mark a new beginning in the NFT world.
More digital asset enthusiasts will have more reasons and the confidence to purchase these digital works of art now that they will have something tangible. The Digible platform will provide them with safe custody for these valuable assets and an opportunity to earn from them. Physical collectible cardholders can auction their cards via Digi Auction when their values increase or even buy cards from other holders on the Digible marketplace.
Disclosure: This is a sponsored post. Readers are encouraged to conduct further research before taking any action. Crypto Adventure does not endorse any crypto projects cryptocurrencies listed, mentioned, or linked to on our site.