ECOMI Partners with OpenSea to Create Open Market for Digital Collectibles

The viability of digital collectibles has taken another giant leap forward thanks to a partnership arrangement between ECOMI and OpenSea. Touted as the ‘eBay for Cryptokitties,’ OpenSea was recently successful in raising $2 million in seed equity to continue to expand their open marketplace for non-fungible tokens and other crypto-collectibles. Now, in an agreement with ECOMI, the platform will also allow users to trade and sell their licensed digital collectibles, which can be purchased through ECOMI Collect.

What Is a Non-Fungible Token?

Like traditional collectible items, the value of a digital collectible is in its ability to be distinguished, or to identify it as unique. In order to do so, digital collectibles are created, identified, and transferred, as a unique token, known as a non-fungible token or NFT. This is made possible thanks to the immutable nature of the blockchain and distributed ledger technology, and unlike Bitcoin or other cryptocurrencies, NFTs cannot be divided. They represent one unique asset in its entirety.

ECOMI Collect X OpenSea

OpenSea will be the first open marketplace to allow the trade and sale of licensed collectibles, provided by the ECOMI Collect platform. This interchangeable arrangement will not only allow ECOMI digital collectibles to reach a wider audience, it also offers users another location to trade, sell and interact with their NFTs.

“While the space is in its infancy, I think we’ll start to see the emergence of a thriving ecosystem around crypto-collectibles. This ecosystem will involve provable scarcity (supply enforced by a smart contract), greater liquidity (many open marketplaces), portability (ability for a collectible to exist in multiple ecosystems), and interoperability (ability to build new experiences on top of existing collectibles).”- Devin Finzer, Co-founder and CEO, OpenSea.

Similar to OpenSea, ECOMI Collect is also designed for users to facilitate their own trades and transactions, with an inbuilt exchange and second hand marketplace. Long term, this second hand market place will be managed by ECOMI Master Collectors, who will in turn be rewarded with a % of the exchange fees for arbitration, content approval and escrow services.

The ECOMI Collect DApp lets you browse, purchase and display licensed digital collectibles

This also means that NFTs purchased through OpenSea can then be traded and sold on the ECOMI Collect platform, allowing for interoperability of digital collectible platforms/data, and encouraging a community of cooperation surrounding digital collectibles. Moreover, thanks to the design of the ECOMI ecosystem, users can also safely and securely store their NFTs offline on the ECOMI Secure Wallet, regardless of the platform they were purchased on.

The Future of Digital Collectibles

The future of digital collectibles is bright. By changing to a digital medium, collectibles are now open to people across the world, with the same inherent values as a physical product. It also allows the collectibles to be used in many different applications, across a number of potential platforms.

At the time of writing, ECOMI is assembling a panel of experts in the digital collectible space to make the subject more approachable and understandable to the general public. OpenSea CEO Devin Finzer is one such panel member, and when asked about the most exciting part of digital collectibles, he had this to say:

“I’m excited about the portability component. When a collectible can have a use in many different digital experiences, its value can continually increase over time (and perhaps even incentivize the development of new experiences). While a collectible might start as a simple image of a character, it may have many other representations in a virtual or augmented reality simulation, a mobile game, or even as a physical good.”

ECOMI’s AR recognises the Secure Wallet to display your collectibles

ECOMI Collect already allows users to interact with their collectibles in augmented reality, but it is through these partnerships that the digital collectible space will truly evolve into new and exciting capabilities and applications. Currently ECOMI has secured the license for international lifestyle and apparel brand tokidoki, with other popular brands and icons due to join the platform post crowdsale, due to end September 30.

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ECOMI’s mission is to utilise blockchain technology to create the world’s best platform to pay, protect, and collect premium licensed digital collectibles. ECOMI delivers the freedom to secure and control your digital assets, data, and cryptocurrencies with user-friendly products and applications.

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