People have always been fond of collecting stuff, from postage stamps to paintings and coins. Nowadays, with the crypto hype in full swing, one more entry has been added to the list of collectibles - unique virtual tokens like CryptoKittens.
Collecting things goes beyond providing fun and entertainment. It also gives people the feeling of satisfaction to know they own something unique and rare. However, it also comes with a problem attached: since collectable items are so unique, it is sometimes hard to identify how much value they carry. Most ordinary things are fungible, which means they are more or less identical and can be exchanged on a one-to-one basis. However, one-of-a-kind tokens are non-fungible and have their own, individual value.
Meet the blockchain marketplace for unique tokens
With those specifics in mind, Open Collectors Network is developing a platform for non-fungible tokens, allowing users to create, customize, or trade them. This will become the first decentralized exchange for one-of-a-kind tokens. It will bring blockchain technologies closer to people, allowing them to tokenize their goods and services and use them in thousands of different ways.
There are endless use cases for the system, but here are a few to fire up your imagination:
- Social platform: users can tokenize things they value. The platform will support the token created by the parties, such as Decentraland, CryptoKitties, and CryptoPunks.
- Business: freelancers and companies can tokenize their unique products, such as articles, pieces of art, handmade things.
- Auction houses will be able to keep their inventory on the public ledger, making it transparent and secure.
- Gaming platforms: online games can support collectible items and keep them on a public ledger to increase accountability and transparency.
- Discounts: companies can offer exclusive discounts on their tokenized products or even tokenize discount coupons.
- Decentralized ICO investment pool: users can collectively invest in ICOs with the investment pool, which will be completely decentralized, meaning no single party will have control and it will operate via smart contracts.
The platform is based on the Ethereum protocol, which means that users can identify any token through the Ethereum ecosystem. The team has a working prototype of the product, so anyone can register and give it a try.
Open Collectors Network ICO Details
Open Collectors Network’s ICO is currently in the private sale phase, but the public sale whitelist registration is open.
The main phase of the crowdsale starts on May 1, 2018 (subject to confirmation) and finishes on May 30, or as soon as the hard cap of 15,000 ETH is reached. One ETH buys you 6,000 ECTO, although bonuses may apply if you join the ICO early.