NJ, USA, 20th April 2021, Digible – presents itself as a taste of the best of two worlds combined; rare physical collectible cards and NFTs. The platform also allows users to stake $DIGI and receive a share of what the platform generates.
Non-fungible tokens (NFTs) are unique digital assets designed to represent ownership of a specific collectible, such as a piece of art or sports trading cards, using blockchain technology.
Let us explore Digible, the world’s first NFT marketplace that is backed by physical rare collectible cards!
The primary use of Digible is to provide a market for users wishing to purchase, sell, or exchange physical cards that have a reliable value. The marketplace is divided into two; the marketplace for collecting physical rare collectible cards and another for artists to sell or auction their NFTs.
Digible enables its users to purchase physical cards without physical access. There is also an NFT version for every physical card that is supported essentially by the physical asset. The marketplace excludes physical cards, and anyone can use this secure platform to buy/sell or to auction their desired NFTs for a range of NFTs.
Currently, DIGI is not yet Live and will be made accessible to the public during the presale scheduled for April 22 at 15:00 UTC. Note that the total DIGI token supply will be capped at 100M. Liquidity providers will earn rewards of up to 10M while 15M will be locked in the Digible liquidity pools. Marketing and the team are each allocated 10M.
The Auction Feature on Digible
The market auction feature requires a minimum of 3000 $DIGI tokens to be held by users. Suppose you want to sell your physical card or NFT through an auction; for any sale or auction held on the marketplaces, Digible has a 10% transaction fee. The staking pool will automatically receive 5% of the total fees, while the remaining 5% will cover all expenses and fund the project’s development.
Digible users can sell their physical cards via auction. If it is an NFT, the digital card will be locked on the platform for the auction duration, and smart contracts will handle the transactions.
The physical collectible card can be sent to your address where you can hold on to them or auction them for a profit; however, the DigiSafe feature is available to hold it for you and then give you control over the collectible via DigiTrack.
Other Unique Services Offered on Digible
Apart from buying or selling collectibles, Digible offers more unique features; DigiDuel, DigiSafe, and DigiGrade.
DigiDuel is the place to battle for any NFT you want in your wallets. To do this, place your NFT and $DIGI tokens as a bet and choose the color you want.
The winner receives the loser NFT and the $DIGI amount put as a bet until the winning color is disclosed. Digible will charge a 1% fee from the total bets, with 0.7% going to the staking pools and 0.3% getting burned.
DigiSafe and DigiGrade
DigiSafe is where your precious physical card is kept if you choose to store it on Digible. You will receive a digital card version in the form of an NFT that can be used to monitor the physical card at any given moment.
To do this, log in with your wallet that your NFT is stored on and access your physical collection online! Once you sell your physical card, your NFT will get burned to eliminate any duplicate issues.
The Digible platform also introduces the DigiGrade, a service that inspects all physical cards on the platform to foster user trust. Before sending the cards to the online marketplace, the Digible protocol sends them for formal grading via the Public Securities Association (PSA).
According to a Nonfungible report, NFT’s total value quadrupled last year to $250 million, with overall NFT sales volumes exceeding $220 million in the past month alone.
The data gives insight into what we can expect of the Digible platform after its services fully go live. Please be on the lookout for the presale of the DIGI token that is going live on April 22, 15:00 UTC!