A live ask-me-anything session on Cointelegraph’s YouTube channel, has been completed by a unique NFT marketplace that is backed by physical assets.
In the real world, Digible aims to offer a crypto-focused environment for rare items that exist. With this platform storing it safely on your behalf,if you were to buy a coveted Pokémon card, you’d be able to receive it in the form of a non-fungible token.
I became aware of NFTs back in 2018 and started to explore the wide range of use cases for this distinctive asset class, according to Daniel Pustelnik. An avid collector of physical trading cards for many years, he spotted an opportunity to deliver tokenization — as has been seen with real estate.
During the broadcast, he drew an analogy to the cloakrooms seen in fancy restaurants, where you drop off your coat and you’re given a slip in return — meaning you can redeem it later. In this case, the NFT is the ticket reflecting the physical item.
“It’s a digital representation of a physical thing and those are backed one to one,” Pustelnik explained. “You can’t have duplicates, you can’t have repeats — and as soon as it leaves the ecosystem, the NFT gets burned. Vice versa, once it’s entering the ecosystem, an NFT gets created.”
Physical cards are held by third-party, insured custodians known as DigiSafes — private vaults that help give users peace of mind.