55 Asset Network Launches Tokenized Collectible Trading
By: 55 Asset Network
Tokenization of real-world products has allowed consumers, collectors, and speculators to gain access into markets, which previously have been either unavailable or restricted in their respective jurisdictions. While existing markets can be considered 'traditional', tokenization allows platforms and institutions the means to offer assets from various classes to a larger pool of asset owners and traders.
The current global collectibles industry does not provide proficient end-to-end authentication, custody, origin verification, and supply-chain regulation. Using distributed ledger technology on the 55.com platform, traders receive unmatched transparency and integrity in the transference of tokenized collectibles and other Veblen assets.
Last year the athletic footwear industry generated $17.5B, spanning online, brick and mortar, and c2c sales. C2C sales among the colloquial "sneakerheads"
55.com launched its tokenized collectibles trading platform with the listing of products from luxury streetwear apparel brand, Supreme. During the first of its kind Asset Token Onboarding (ATO) event, 55.com tokenized the in-demand Supreme X Swarovski Box Logo Hooded Sweatshirt; users who owned Supreme tokens equivalent to the retail USD price of the underlying asset were able to redeem their Supreme tokens for the sweatshirt at a fraction of the cost of the secondary market price.
55.com will launch its next Asset Token Onboarding (ATO) event on July 4th with the Air Jordan Jordan 1 Retro High Travis Scott sneakers, a highly collectible sneaker. The underlying asset, the Air Jordan X Travis Scott Retro 1 sneaker will be tokenized to Air Jordan (AJ) tokens and sold during the ATO at a fixed rate of 1 AJ = 0.1USDT.
To participate in the upcoming Air Jordan ATO, create an account at 55.com and submit KYC/AML verification;
The Asset Token Onboarding (ATO) platform brings high-quality projects and assets to the market. ATO is a new generation of utility token sales agreements launched by 55.com. ATO embraces the advantages of information disclosures intended for consumer protection that are associated with public offerings in traditional financial markets, while at the same time providing the advantages of rapid issuance in blockchain-based projects.
Over the coming months, 55.com plans to host numerous ATOs including premium sneaker products, other streetwear and hypebeast goods, and more traditional collectibles.
At the time of this release, the underlying asset of 55.com's first ATO, the Supreme X Swarovski Box Logo Hooded Sweatshirt in Heather Gray, was redeemable on 55.com at a 43% price discount when compared with other secondary markets.
The deployment of C-Site brings forth a new paradigm in collectibles circulation through the tokenization of assets in a seamless transaction platform, free of the restrictions of time zone, cross-country processing delays, and elevated costs to the trader. At once, the 55.com platform converges otherwise disparate asset classes for users to transact tokens between them.
About 55 Asset Network
55.com is tokenizing a variety of asset classes to create a global asset network with unparalleled asset diversity. By eliminating traditional barriers like time, currency, and language, 55.com provides unrestricted, non-discriminatory access to buying and selling assets, at any time and from anywhere in the world. The Company is located in New York City with offices worldwide. For more information, please visit www.55.com.
For more information about 55.com and the tokenized collectible trading platform, please call Geoff Shearer, Director, Global Marketing & Community at (646) 685-3815 or email firstname.lastname@example.org.
Some of the statements in this press release may be forward-looking statements or statements of future expectations based on currently available information. Such statements are naturally subject to risks and uncertainties. Factors such as the development of general economic conditions, future market conditions, unusual catastrophic loss events, changes in the capital markets and other circumstances may cause the actual events or results to be materially different from those anticipated by such statements. 55.com does not make any representation or warranty, express or implied, as to the accuracy, completeness or updated status of such statements. Therefore, in no case whatsoever will 55.com and its affiliate companies be liable to anyone for any decision made or action taken in conjunction with the information and/or statements in this press release or for any related damages.
Phone: +1 (646) 685-3815