So, you’ve heard all the buzz around the crypto world, but is it really worth the hype?
The digital marketplace has skyrocketed in recent years with the global blockchain market expected to reach $23.3 billion by 2023. There has been an influx of businesses wanting in on the action, but uncertainty remains for many people. After all, Bitcoin, arguably the largest and most well-known cryptocurrency available, was only invented in 2009.
However, with the recent attention given to blockchain and the popularity garnered by cryptocurrency throughout the world, new and exciting opportunities have begun to appear. Debuting on Halloween night, CollectorsMint is one of those industry-defining opportunities dead set on revolutionizing how digital assets are traded, managed, and protected. CollectorsMint allows users to discover and purchase rare music, videos, digital sports memorabilia, digital art collectibles and rare digital publications.
What makes CollectorsMint stand apart from the pack is they allow creators to create bundled NFT’s. What does that mean exactly? A “Bundled NFT” is a collection of more than one file combined to make a single NFT, for example a complete music album, film series, a book or magazine can now be created and minted directly on CollectorsMint.
Not sure what any of that means?
CollectorsMint is on the Ethereum blockchain which is an open-source, public blockchain network similar to Bitcoin. However, the network introduces a few key technologies, most notably the introduction of smart contracts and a tuning-complete virtual machine.
Non-Fungible Tokens or NFTs, are unique tokens that cannot be replaced or replicated. For example, original artwork is a one-off. You can make a copy of it; however, nothing can replace the original. And if you traded that art piece you would receive something different, perhaps money or another piece of artwork. The idea is that an NFT gives the buyer a one-of-a-kind digital experience. While someone may try to make a copy, buying an NFT makes you the owner of the original piece by imprinting the transaction and item into the blockchain, solidifying ownership and authenticity.
So, who is CollectorsMint and why should you take note?
CollectorsMint is a creator-centric marketplace, founded by music composer and CEO Shane Cormier. Looking to “put the power back in the hands of the artists, “Cormier stated, “The music industry, specifically for the independent artist, has taken a few beatings over the last 20 years, but CollectorsMint is the solution to the music industry's woes.”
Not the first NFT marketplace to host and feature music centric digital assets, The international music industry has its eyes on CollectorsMint as potentially holding the most expansive audio NFT offering of any digital marketplace.
Additionally, book and magazine publishers now have a way to experience the future of digital collectibles with CollectorsMint’s first in class Bundled NFT option.
The outlook of CollectorsMint is to host the most novelty based NFT's of any marketplace and to squarely compete with blockchain heavyweights OpenSea, Mintable and Coinbase. So, it will be exciting to follow CollectorsMint in the coming months.