55.com, an asset network, announced today the deployment of its tokenized collectible trading platform. 55.com now provides users access to trading asset classes that represent the underlying merchandise from high fashion brands and exclusive merchandise distributors.
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 investor pool.
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%5, spanning online, brick and mortar, and c2c sales. C2C sales among the colloquial “sneakerheads,” constitutes a prominent market share in aftermarket sales largely without authentication or proper custodian channels.
55.com launches its tokenized collectibles trading platform with the listing of products from luxury streetwear apparel brand, Supreme. Users can participate in the Asset Token Onboarding (ATO) event by purchasing Supreme tokens, which are tied directly to real-world underlying assets. The first Supreme product assets to be tokenized will be Supreme X Swarovski Box Logo Hooded Sweatshirts. Users who own SUP tokens equal to the tokenized value Supreme X Box Logo Hooded Sweatshirts can redeem their SUP tokens for the underlying asset. All Supreme products are verified for authentication.
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.
The deployment of C-Site brings forth a new paradigm in collectible 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.
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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 headquartered in New York City. 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 (585) 314-7812 or email [email protected]