The fastest, safest, most forward-thinking way to trade physical collectibles. A marketplace focused on bringing efficiency, security, and ease-of-access to physical and digital collectors by making it easier than ever to start collecting and trading physical collectibles as NFTs. By bringing users instant transactions for physical items, baked-in legal protections (even against us!), and a concrete link between blockchain technology and existing real-world markets, we’re pushing the world of Web3 forward while making it faster, safer, and easier than ever for collectors worldwide to pursue their passion for collecting!
Trading physical collectibles through the digital world is becoming a more well known subject throughout the web3 space. However, Phynite edge-cutting, into the future invention has changed the game. We introduce our proprietary technology, the CBNFT (Contractually-Bound Non-fungible token) and the Phynite Protocol. When a user buys a CBNFT, a valid U.S. legal contract that highlights ownership and expressible rights to the physical item are initialized corresponding to the transaction. When certain conditions are triggered by the changes made to the CBNFT’s state on the Ethereum Blockchain, users can now be assured through the legal system that the guardian organization will have to execute and deliver promised conditions. Platforms, such as Ebay Vault and Courtyard NFTs, act on a simple trust base with their customers. However, with CBNFTs, not only are customer's digital identities protected, but their ownership rights to their item is secured through the US Legal system. Here at Phynite, we believe trust is not simply given, it has to be earned.
