Trading cards were introduced in the 1860’s as a form of advertising, since then, they have remained one of the most collectible items.
Trading cards are a whole ecosystem of their own, existing both in the physical and digital world across different genres.
Many NFT projects have tried to merge this ecosystem with blockchain but have fallen short.
OnlyGems is now launching collections of its own by partnering with other projects and celebrities. The most recent collection is the result of a partnership with Chevy Chase, one of the most prolific actors, writers, and producers in the United States. Professional Sports Authenticator (PSA) will also make part of the partnership by grading and authenticating all cards in the ChevyChase Legend Card Collection.
There are two main types of trading card projects in the blockchain space:
- Games using NFT to represent digital cards.
- NFT trading cards with no interactivity.
Both certainly have value and have contributed to the ecosystem’s growth; a lot of potential has been lost. This is especially true when it comes to captivating traditional card collectors.
A blockchain project created by OnlyGems aims to release the potential of merging the traditional trading card collecting space and blockchain by using NFTs.
OnlyGems is doing this by taking physical custody od the graded and authenticated trading cards and the tokenizing them using one-to-one NFTS
Tokenized NFTs can be sold, traded or bought freely on the blockchain by collectors. Any NFT they owed by a collector can be redeemed to receive the underlying card, no matter where they are.
This approach means greater trust and that friction is removed. Collectors around the world can easily participate in the trading of the assets. This can be done by buying, selling, or trading them, as well as keeping them under OnlyGems physical custody for safekeeping. OnlyGems has a secure location and fully insured vault which ensures the safety of the collectibles under its care.
The OnlyGems team has developed a system called “Gem Pass,” which grants priority access to rewards, new features, and raffles, as well as a claim on GEMZ coins. This results in a self-sustaining ecosystem that can also generate earnings for users in ways like traditional DeFi platforms.
The trading cards in the collection will represent one of the 122 pages of Caddyshack’s original script, which the Tampa-based start-up acquired. To add further value to these pages, Chevy has autographed each page himself.
Once the collection is airdropped, holders will be able to interact with them just like any other NFT on the platform.
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