Monaco Market is launching the first marketplace that combines non-fungible token (NFT) technology with real world collectible goods. NFTs offered on the platform will represent ownership of sports memorabilia, jewelry, fine art and other collectibles. These collectibles will be authenticated by industry leading professionals, curated into collections, and digitally tokenized for sale on the marketplace.
Recent hyper volatility in cryptocurrency markets has compelled blockchain investors to diversify their portfolios with more stable assets. Monaco Market seeks to create a bridge for these investors into the world of investment grade assets with established value. Historically these items have been commoditized, but for the first time, they are being tied to NFTs for easy trading.
Each NFT is minted specifically for the collectible it represents. Investors may trade the assets without physical possession – removing barriers currently existing in the market. Additionally, buyers may elect to redeem physical rights to the underlying goods and have it delivered to them.
Monaco Market offers a secure environment and only a 1.5% sales fee to sellers by partnering with CollectCoin (CLCT), a BEP-20 token built on Binance Smart Chain. Additionally, Monaco Market redistributes 33% of all fees to CLCT holders. Conversely, traditional marketplaces have failed to accommodate cryptocurrency customers, leading to risky independent deals with high fees.
By removing traditional avenues that enable fraud, Monaco Market assures that buyers will get what they paid for, and that sellers will be paid. Monaco Market vets and approves each seller individually, ensuring security for all buyers on the platform. Once an NFT is minted, the owner may sell or hold that asset on the blockchain, providing users with a permanent and transparent log of ownership.