NFT and Etalonium Stars. Step forward for Blockchained Collections

NOV 15, 2020


Mankind has been using the term “Collection” for over two thousand years, since the time of the Roman philosopher Cicero, who called this word the unification of disparate objects into a single whole. In the Middle Ages, dukes and emperors collected rare and unique relics in their treasures, attracted famous artists and sculptors to replenish their collections, maintaining their status and wealth.

Now coins, stamps, paintings and cars can all be collectible. Unique properties, limited edition or rarity of an item create value in the eyes of the collector. And in the modern world, any value easily gets a fake almost indistinguishable from it: creators have a whole range of methods and technologies to create a copy identical to the original. The scams of John Mayatt, Elmir de Horey and Han van Meegeren thundered all over the world of the XX century, amazing collectors and art connoisseurs with their cunning and skill.

Goods and tokenisation (NFT)

The modern collector is concerned with the same questions as 1000 years ago: “How to avoid counterfeiting? How to protect a collection from environmental influences? Where can you buy the desired item without the risk of being deceived? ”. And the technology world is ready to answer - blockchain. Modern cryptographic methods of protection and verification make it possible to trace the history of an item from its discovery to the moment of sale at an auction, make sure of its authenticity and do it without leaving home! But the first generation blockchains (bitcoin and its forks) are focused on solving the problem of decentralized finance, they are not able to cope with the storage of a huge amount of unique, diverse data.

However, the trend of asset digitization that has gained full power, which exists in second generation blockchains (Ethereum, Syntetix etc.), has spawned something that can solve this problem - NFT, a non-fungible token. A token of this kind is a unique object in the blockchain that cannot be replaced or changed. Many projects are experimenting with NFT, incorporating this principle into identification, licensing and certification processes.

The issue of the painting's authenticity is easily resolved by assigning it a unique NFT, which is the item that passes from hand to hand at auctions and in the exchange process. Blockchain makes it possible to see the entire history of such transactions and determine the origin, uniqueness and value of the painting.

Digital collectibles in blockchain

Of course, painting identification is not the only way NFT is applied. When a collection item hangs in a personal gallery or is in a collector's magazine, it is pleasant, but inconvenient. In the modern world, digital items can carry the same value as material ones: the turnover of trade in in-game items in the computer game Counter-Strike: Global Offensive in 2016 amounted to $ 5 billion.

In turn, Ethereum, thanks to its smart contract functionality, offered a convenient and fast solution for creating NFTs - the ERC-721 standard. At the moment, the NFT trend is formed by more than ten platforms where such tokens are sold and exchanged according to the principles of an auction, and more than a hundred companies that have released their collectible digital items and created sites for their production. Now we can already talk about a separate industry, an alternative to mining and staking, since collectibles on such sites are mined exclusively using the tokens of the creator project.

Often, collectibles are presented as cards containing a unique image or text. A striking example will be the Binance New Year 2020 cards, which the company issued as part of the celebration of the New Year 2020. These cards are now traded on most sites and any owner can verify their authenticity by checking the address of the card creator with the official Binance ERC-1155 address.

Superiority of ExtraChain technology within Etalonium

Etalonium Project plans to take digital collectibles a step further with the “Etalonium Stars” collections. With a large international community, Etalonium has brought together many talented models, photographers, designers and modeling agents under its wing. The best of them passed the selection and got into a special group, which will become the face of the “Etalonium Stars” collectible cards.

These cards are a dynamic system linked to a participant's rating on the Etalonium platform and storing data about the location of the shooting, the authorship of the photo, the participants and details of the composition. Due to the presence of a distributed file system, closely linked and verified by the ExtraChain blockchain, the collectible card is always available and the stored image or video is authentic and true, which excludes any spoofing or deception possible in many ERC-721 NFTs.

Etalonium Collections are designed to preserve the best moments and the best members of the Etalonium platform in such a way as to give each owner the joy of receiving or profit from the exchange on the special platform “Etalonium Collectibles”!