HOW ITSMYNE SOLVES THE PROBLEM ASSOCIATED WITH COLLECTIBLES
Because of its uniqueness and/or appeal, a collectible is an item that is worth significantly more than it was initially purchased for. The price of a collectible is usually determined by how many identical goods are available and how good of a shape they are in.
Gadgets, coins, comic strips, and stamps are just a few examples of collectibles. There are several types of collectible investments, which are tangible items that can grow in worth and broaden your investment portfolio.
Collectibles are not shares, commodities, real estate, or cash, but rather an alternative investment. Collectibles can be a lucrative investment for some people, and problematic for some who don't take the time to learn the ins and outs of the industry. This is because there are various fraudsters and con artists out there and more. One important collectibles Itsmyne looks into is that of sports collectibles.
ITSMYNE AS A MARKETPLACE FOR NFTs SPORTS COLLECTIBLES
Sports collectibles were among the most wanted and popular pastimes in schools of before. Having cards of the greatest basketball, football, cricket, and baseball players were a source of great pride and trending for young people. Increased interest in sports collectibles, coupled with expected high growth rates, is likely to draw larger players eager to enter the industry.
This is why Itsmyne has ventured into this program. Also as a result of the frequent use of social media to create agendas and anticipation around these collectibles, this business has seen a recent surge in popularity.
Itsmyne goal is to create a specialized marketplace where only sports enthusiasts can purchase licensed collectibles. For everyone, the market would make the general experience simple. They have already established a massive market for NFTs for sports collectibles, as evidenced by recent massive transactions in the athletic world.
HOW ITSMYNE SOLVES THE PROBLEM ASSOCIATED WITH NFTs SPORTS COLLECTIBLES
Major dangers associated with collectibles include expensive prices and fees; a scarcity of investments or profits until sales; frequency of pirated goods; and a greater than average chance of destruction of the assets. Itsmyne has checked and seen that collectibles can benefit from new-age technologies like blockchain and NFT's, which can remove barriers.
Examples of such barriers and solutions proffered by Itsmyne include;
Location: People may purchase and sell digital collectibles via the internet from the comfort of their own homes and possess their favourite items with a few clicks.
Currency Difference: It is possible to avoid cross-currency transaction issues by using fiat currency to buy crypto and then using that to buy the preferred collectibles.
Quality/Condition: Sports collectibles made of paper, which is susceptible to deterioration over time because of the conditions in which the cards are maintained, geographic location, etc. Furthermore, since it is a physical item, it is susceptible to physical damage from unforeseen events. The use of such digital collectibles is certain to solve this issue once and for all.
Validity: In high demand items, many fakes are produced and the origin of these can't be traced, resulting in a significant loss of value. This problem can be solved by the usage of collectibles that are properly licensed and come with certifications of authenticity.
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CONCLUSION
Issues like the ones listed above evidently can be easily avoided if digital collectibles are used rather than traditional card-based ones. The use of blockchain type of technology to mint NFTs and create online marketplaces for the purchase, sale, and trading of digital sports items is one of the major solutions to the above problems. Which is why Itsmyne has made it their business to market licensed or verified NFTs collectibles.
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AUTHORS DETAILS
Bitcointalk Username- Devotea
Bitcointalk Profile link- https://bitcointalk.org/index.php?action=profile;u=2767689;sa=summary