The Magic — and Madness — Of NFT Collectibles

nft Mar 2, 2021

At Acquicent, our goal has always been to use the power of blockchain tokenization to bring liquidity to an asset class where it was historically very difficult to find: collectibles.

Our initial focus has been on what you might call "real world" collectibles – physical things like classic cars, fine art, and other museum-grade rarities. We continue to work toward that goal, and have made substantial investments in building the required technical, legal, and regulatory infrastructure.

We've had our eyes on non-fungible tokens ("NFTs") since before the company began. In fact, as Mike Casey pointed out last fall in Coindesk, it's always been blockchain here behind the scenes.

As Acquicent came to life, we initially focused on the challenge of indissolubly linking an NFT to a real-world item. Along the way—most notably at the several NFT events we sponsored over the past couple of years—many smart people encouraged us to consider the NFT as a potential collectible in and of itself, and to forget about the physical stuff entirely. I was initially skeptical because, if I'm being honest, I wasn't sure the world was ready to accept a purely digital collectible. Well, I was wrong, and the NFT madness of the past few months illustrates that very well.

What we've been building doesn't care if a collectible is digital or physical, and bringing liquidity to collectibles is our long-stated mission. Additionally, a purely digital collectible carries with it a substantially lighter regulatory load. That lets us launch much faster, which is always good news for a startup.

So we've decided to launch in two phases. Within the next few weeks, we will launch our marketplace for digital collectibles. These will include branded rarities and other collectibles which will be freely tradeable on a public blockchain. We're also working on tools that enable collectible owners (and that includes creators such as artists) to easily offer collectibles, collections, or shares thereof.

Later this year, pending additional legal and regulatory work, we plan to add the capability for tokens linked to real-world physical collectibles. In both cases the tokens will be NFT tokens. In the case of the asset-backed NFTs, however, there may be a holding period prior to their release for free trading.

We hope you're as excited about this as we are!

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[Photo: Scott Webb via Unsplash.]

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Anthony Citrano

Anthony is founder & CEO of Acquicent. He previously was VP Communications and Chief Evangelist of Verizon's digital unit. Before that, he was VP Communications at EdgeCast Networks.

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