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What is Digital Collectibles (What is Digital Collectibles Trading)

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What are digital collectibles? What exactly are digital collectibles? Today, let

What is Digital Collectibles (What is Digital Collectibles Trading)

What are digital collectibles? What exactly are digital collectibles? Today, let’s talk about what “digital collectibles” are.

The combination of blockchain technology and art allows collectors to decentralize the ownership and usage rights of artworks through the Internet without relying on third parties. Unlike traditional forms of digital copies such as pictures and music, these products are usually distributed or published by traditional publications. However, they are actually new assets (such as tokens) based on blockchain technology. It has the characteristics of immutability, traceability, and difficulty in forgery and permanent retention. Therefore, it has become a new form of investment.

We know that there are two situations that create this impact: one is that it is difficult for people to share their data with others due to the existence of virtual currency; the other is that the frequency of virtual goods transactions has reduced purchasing power and access. For example, NFTs are now encrypted artworks based on digital art.

Why use digital collectibles as a carrier? Because they are unique identifiers- everyone can own and hold this digital collectible, while ensuring its scarcity and authenticity.

Currently, the most popular digital copyright project in the market is an artwork in the series “The Wandering Earth” by Chinese culture company Guo Chao. The artist’s work is called “The Wandering Earth”.

If the metaverse is understood as a virtual world, users can create their digital assets in the virtual world in the way they want, thereby obtaining corresponding benefits. For example, if you put on a special gift package in your car, you can sell it to your friend after another person wears clothes inside. You can also choose to play with dolls or design cartoon characters by yourself. Of course, if you like a game, you can also choose a man-machine interaction mode that suits your habits.

What is Digital Collectibles Trading

On May 10, 2021, under the guidance of the Ministry of Culture and the Central Cybersecurity and Informationization Commission, the “2020 Digital Collectibles Innovation and Development Forum” hosted by the China Association of Mobile Communications opened in Shenzhen. The forum discussed the theme of “Virtual Art and Collection Industry Development Report in the New Era”. “The Digital Expo” is the world’s first non-fungible token (NFT) auction based on blockchain technology. “Everything on the chain comes alive.”

In addition, the “Research Report on the Application Scenarios of Blockchain + Cultural and Creative Industries” was released at the “2022 Shanghai International Big Data Trading Expo·Online Summit and the Second Yangtze River Delta Digital Financial Summit Forum”. The report pointed out that China will promote the application of blockchain technology and deep integration with the real economy. At the same time, explore related business models such as the confirmation of digital assets, accelerate the construction of the infrastructure of the digital asset market and the standardized management of data elements markets; build an industry standard system, promote the formation of a valuable market ecology of digital assets; cultivate a good order in the blockchain digital asset industry.

Currently, as a new emerging thing, digital currencies are becoming a new trend, and this phenomenon is also accelerating the development and popularization of digital collectibles. From this perspective, the field of digital collectibles has gradually expanded to more areas. For example, issues such as digital copyright protection, how digital copyright service providers can establish a perfect and stable user base, whether digital collectibles can be widely used, how to effectively supervise content creators in the future, and the issuance and sales of digital copyright, what does it mean, and why do we need a digital collectibles platform to solve the above-mentioned Issues? What is a digital collectibles exchange? What is the operation mechanism of the digital collectibles trading platform? In the traditional Internet era, “digital tickets” that have already appeared, that is, raising funds through issuance, purchasing products, and paying in installments, make product information open, transparent, and unchangeable, and allow buyers to obtain benefits in a short period of time. With the rapid growth of the digital economy, digital asset transactions have become more convenient and fast.

For digital collectibles, their contents include pictures, videos, and music works. They have unique characteristics and unique scarcity and can be used in various circulation methods. For example, the use of smart contracts based on blockchain technology can help artists complete the production of digital artworks, improve the price discovery ability of digital artworks, and reduce the information asymmetry caused by intermediate links. The main characteristics of digital collectibles exchanges are as follows:

1. Support the technical requirements of the digital collectibles platform

2. Users can obtain authorized access through official channels

3. Have exclusive intellectual property rights

4. Provide IP operation services

Five trading methods of digital collectibles in five business forms in the traditional digital art market mainly use blockchain technology for encrypted storage and transfer to ensure authenticity and avoid price fluctuations caused by human intervention.

The digital collectibles trading platform is mainly open to individuals, institutional customers, museums, or other venues, allowing people to purchase digital collectibles online and directly upload them to their own servers, so that consumers can view, display, share digital artworks and the stories behind them.

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