Bringing your NFTs to life!

Bringing your NFTs to life!

By McKayStevenson | McKay Stevenson | 17 Sep 2021


  1*sOd11TDkywpg8Y-3r3GnPg.png

Welcome to the intersection of real life and your digital world!

RareMint is a new project being built on the Ethereum network that enables a bridge between verified real-world assets and their digital counterparts (NFTs). RareMint believes the future of real-world asset ownership is digital, and by creating a bridge between the on-chain and off-chain worlds, they will have enabled a unique level of participation that brings with it a broader level of adoption in the collectibles market…a market that has grown to over $15 billion per year (1), and $1.2 Trillion globally (2).

According to sports memorabilia and wealth management advisor Howard Epstein, “Millennials are spending money like crazy. The pandemic kept people home and some of the older guys are pulling out stuff and selling.” The auction market alone generates more than $500 million annually (1).

According to his report, “High-net-worth individuals are investing in or inheriting collections. It is not unusual for some of these collections to be valued in the hundreds of thousands or millions of dollars. With few exceptions, these clients have little knowledge of where to turn for help when it comes to monetizing their collections.”

Although extremely large and valuable, the industry is also fragmented, disoriented and not at all efficient. Collectible buyers and sellers are often faced with obstacles such as high fees and minimums, lack of transparency from sellers, questionable authentication and provenance, market manipulation, asset hoarding, poor discoverability and a lack of recurring revenue.

On the other hand we have the NFT market, which has swelled to over $2.5 billion in the first half of 2021, up from $13.7 million in all of 2020 (3). Because NFTs are blockchain related, they are inherently transparent, secure, and efficient, everything the collectibles market is not.

Enter RareMint

RareMint offers the benefits that come with a owning a physical asset such as history, provenance, and quantified real world value, as well as the accessibility, visualization, and access to 24/7 global markets that the digital economy offers.

Eventually, the RareMint.network will be a self-sovereign interoperable chain built primarily for the tokenization of real world assets. The native digital utility token of RareMint, MINTS, is a transferable, representation of attributed functions specified in the protocol of RareMint. MINTS are intended to be used as the primary utility token on the network. (4)

The project is launching a beta-net version later this year on Ethereum that will include all the functionality of the full project, including the marketplace, the ERC721 tokens and the ability to buy and sell the NFTs, as well as incorporating secondary trading on other NFT platforms.

The RareMint Ecosystem 🌎

RareMint Authentication: We authenticate an asset as it is onboarded to the RareMint network and store the asset’s unique physical fingerprint.

RareMint Vaulting: Store, insure, and protect physical assets. This also allows for seamless, fast resale without putting the physical asset at risk.

RareMint Marketplace: Where all RareMint assets are initially offered for sale and can be traded on our secondary market.

RareMint 1/1 NFT: Each RareMint NFT unlocks immersive content, connection, and provenance unique to its real-world asset.

RareMint DeFi: Staking, rewards, and loans against the user’s vaulted assets and bid pooling.

 

By attaching NFTs to real-world assets and securing that information via the blockchain, RareMint is expanding our vision of what is possible when we connect the IoT to our real world existence.

 

(1) The Sports Memorabilia Market & Wealth Management Whitepaper: Howard Epstein, 2020.

(2) Credit Suisse, 2020.

(3) Reuters.com, 7/2021.

(4) RareMint Lite paper, 7/2021.

 

Author: C. McKay Stevenson, 9/17/21

 Github | LinkedIn | Twitter | Reddit | Facebook | Instagram

 

How do you rate this article?


29

0

McKayStevenson
McKayStevenson

Web3 blockchain developer


McKay Stevenson
McKay Stevenson

Just a crypto enthusiast spouting babble!

Send a $0.01 microtip in crypto to the author, and earn yourself as you read!

20% to author / 80% to me.
We pay the tips from our rewards pool.