NFTs, short for Non-Fungible Assets have gained popularity in the crypto space. Most of the NFTs currently in use are either digital collectibles like trading cards or tokenized representations of digital content — like digital artwork, music or videos. Generally, possession of these NFTs signifies true ownership of the product it represents.
However, the use of NFTs does not stop there as it can also represent real-world physical goods, and making it happen is Trace Network — an NFT based Enterprise DeFi protocol. The project recently achieved a milestone by launching Bling, the world’s first marketplace for NFTs based on limited edition luxury and lifestyle products.
Bling acts as a bridge between the physical and digital worlds by enabling designers and manufacturers to generate NFTs representing their limited edition collection of luxury and lifestyle goods. These NFTs can then be listed on Bling, enabling anyone interested to browse through the marketplace and purchase the item of choice. Bling also supports NFT auctions on the platform.
Anyone purchasing the NFTs on Bling Marketplace will not only own the digital representation of the limited-edition luxury goods but also the actual goods. Once in possession of the crypto asset, they can either choose to hold on to it, trade it with others just like any other NFT or redeem it on the Bling platform to get the actual physical product shipped to their address. Meanwhile, all transactions including the purchase, sale and possession of NFT as well as its accompanying physical product will be recorded on the blockchain.
Bling NFT Marketplace leverages Trace Network’s enterprise-grade DeFi protocol, its smart contract and merchandise identification solutions, in combination with Biconomy’s end-to-end gasless solution to provide a completely transparent, decentralized and economical solution for a niche market. Soon, Bling will be compatible with Polygon Network.
Learn more Bling Marketplace at – https://medium.com/trace-network/introducing-bling-2e0dd14d6bb1
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Source: https://www.newsbtc.com/news/company/limited-edition-luxury-and-lifestyle-goods-as-nfts-on-bling-marketplace/
