New Editional App Allows Users To Create Their Own Crypto Collectables Instantly via Blockchain
During the bull market experienced by Bitcoin (BTC) and digital assets in 2017, new projects and applications spread in the market.
Crypto collectables enter the space with CryptoKitties, congesting the Ethereum (ETH) network and allowing users to buy and sell kitties on the blockchain. However, there were many other crypto collectables that were going to capture the attention of crypto and blockchain supporters.
This time, a new application called Editional will allow users to creat and sell crypto collectables.
Editional Allows Users To Create Crypto Collectables
The application has been created in order to give users the possibility to create and distribute non-fungible crypto collectables. With the application, users can create a work of art and set a limited number of items. After it, users can keep the art or resell it.
John Egan, the founder of the app alongside Zac Morris, explained:
“Every collectable created, traded, or owned on Editional is written to a custom, self-funded NFT contract on the Ethereum blockchain, guaranteeing provable ownership, provenance, and portability.”
In a recent article released by CoinDesk, each NFT can be passed from user to user and cannot be copied. Thus, users will be the only owners of the NFTs created and transacted. In order to start operating, the firm was able to raise $1.5 million from ConsenSus, FirstMark, DCG, CoinFund, Unusual, and also Raptor.
Before working on this application they built a mobile wallet called Vault that had basic support for NFTs that were purchased from decentralized applications (dApps). After releasing it to the market, they realized that people were very excited about collectables and these kinds of crypto items.
As he mentioned, Editional would allow users to create long-term relationships with creators and their work without having to be engineers and experts in blockchain technology to do it. Making blockchain solutions user-friendly would allow the market to grow and expand.