Open Collectors Network – first decentralized exchange for one-of-a-kind tokens
What does the platform do?
It’s the first platform for creating and trading non-fungible tokens.
Best way to explain is by example. Imagine you printed 1000 flyers and are handing them out on the street. You don’t care which flyer you hand out from the stack, because they are all identical: same size, same content, same purpose. This collection of flyers is said to be fungible and it’s equivalent to current crypto currencies: if you send someone 1 ETH, it doesn’t matter “which” ETH from your wallet it is.
But let’s consider now, another collection: paintings by famous artists. Already, we can tell a difference: though all of them are paintings, if you wanted to buy one, you wouldn’t just pick randomly. You like some more that others, some are more expensive and so on. They’re non-fungible, as they are all one-of-a-kind and it does matter “which” one it is.
It is this particular type of token that their platform is built for, and they are strongly believe the use cases for it are endless.
HOW THE TECHNOLOGY IS APPLIED IN REAL CASES?
The possible uses cases for unique tokens are almost endless. We have several that are already implemented and more that we have thought about and are working on. But more importantly, it’s the ones we didn’t think about that are exciting: our platform is open to everyone and we expect innovative ideas to be implemented on top of our platform, especially since it abstracts away all blockchain related complexity.
• SOCIAL PLATFORM
Individuals or groups can tokenize unique things of value to them, for personal use.
• BUSINESS SECTOR
Any freelancer or business can easily tokenize their personalized products (like a car, an article or hand-crafted items).
• AUCTION HOUSES
Maintaining their inventory on the public ledger to increase trust among its client base.
• GAMING PLATFORM
Certain types of games, like Magic: The Gathering© or in-game collectibles like a Dragon Lore AWP skin in Counter-Strike©, can be held on the public ledger, increasing accountability and transparency for the owning company. It also makes it trivial to attach amp; value (virtual currency) to any item.
• VIRTUAL OBJECT MARKETPLACE FOR CONTENT CREATORS
The ability to buy digital assets with the intent to use them within a game or within the development of a game is possible through leveraging the ERC721 standard. This means the marketplace offers the tools for game developers to sell their creations or use those creations for further game development.
Partnerships with companies which can tokenize their products; let’s take for example a user which lives and breathes Apple products; he will create/buy different Apple unique tokens, at which point he, or even we, can approach the company and obtain discounts for him as a reward.
• DIGITAL MEDIA AND RIGHTS MARKETPLACE
It is worth noting that any digital media could be represented here. This could be a graphic, image, music, book, or anything else that one may want. For example, any artist, writer, musician would be able to sell their asset, as long as it was digital to anyone who wanted to do purchase the asset. Going further, digital rights relating to the ownership of the digital media can be bought and sold via the marketplace. The latter has the benefit of circumventing digital rights auction houses and significantly reducing cost of transacting and the fees related therein. Small creations, like a brand-name, or a logo can be directly held on-chain, whereas larger ones can be stored anywhere on the cloud, and only a hash of their value stored on the ledger. This brings the best of both worlds: cheap/fast storage and full accountability.
Even if you have just started to master the multifaceted world of cryptocurrency, Open Collectors Network functions are quite accessible to you. The goal of the developers is to create a truly large-scale and unlimited platform that will unite people speaking different languages, with different ideas, experience in the field of blockchain technology and knowledge, so that each of them can benefit from participation in the system. The wallet on the basis of the Etherium makes each operation not only simple and completely transparent, but also guarantees the complete security of each party to the transaction on the platform. In addition, there is no need to specify personal information for the account – it is enough just to create a wallet through which all your actions will be carried out.
The main advantages of Open Collectors Network and differences from other exchanges are the following:
- the ability to receive and store own unique tokens;
- the possibility to create own tokens;
- developing rules of interaction with other participants;
- as a reward for activity within the platform, each user can receive tokens from the Open Collectors Network;
- absolute decentralization of the ecosystem.
The currency within the Open Collectors Network system has huge trading opportunities. So, you can sell them at a fixed cost, or there is a variant of auctioning based on popular mechanisms (open or blind, etc.).
Thanks to the work on the basis of blockchain technologies, your possession of the currency will be confirmed and justified, just as every operation will be reflected and confirmed through a blockchain account. Implementing these tokens can be practically without restrictions – social, entertainment, business, various auctions, virtual objects – the list is very wide, and you will definitely find it necessary to use your tools.
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