E-Commerce Giant Amazon Backs Wax Blockchain-Based Fractional Trading Card Market Dibbs: Report
The rise of non-fungible token (NFT), assets, and digital collectibles has been a hot topic in 2021. It seems like everyone wants to be a part of this billion-dollar industry. reports recently revealed that Amazon invested in the trading-card platform. “We are thrilled to announce that Amazon has entered the collectibles market by investing in [Dibbs.io],” the official Wax blockchain Twitter account said on December 8. “[Dibbs]” is a fractional card market that uses Wax vIRL and NFT technology.
Dibbs was established in 2020. Members can list collectible trading cards and have them converted into NFTs. The NFTs can then be fractionalized. Although Amazon’s investment is not publicized, the startup raised $16million in Series A funding in July. The Series A Dibb investors were athletes Chris Paul, Channing Friede, DeAndre Hopkins and Kevin Love. Kris Bryant was also a part of the round. Skylar Diggins Smith was also a part of the Series A. Foundry Group and Tusk Venture Partners also supported the Series A in July.
The company officially introduced the “Sell with Dibbs” marketplace, which allows collectors to sell and price their collectibles. It also lets them fractionalize and fractionalize items. Evan Vandenberg, Dibbs’ founder and chief executive, explains that NFTs, digital collectibles, and other technologies make the collectibles industry more accessible. In a statement, Vandenberg stated that the collectibles market has been hampered by barriers to entry for too long. According to the Dibbs executive:
The emerging metaverse removes the limitations of traditional ownership. These collectibles are essential to the future of identity and ownership.
Dibbs Looks at Other Types Of Digital Collectibles, Fractionalized Collectibles Will Be a Big Deal In 2021
Dibbs CEO noted that cards aren’t the only thing his startup is focusing on. The firm is also considering other avenues. Vandenberg said that cards are only one of the things we do. But it’s just one thing. Vandenberg said, “This can be so many more than cards.” Fractionalizing NFTs is a growing trend. Platforms like Otis and Unicly are leading the charge for fractionalized NFTs.
The Cryptopunk collectibles were fractionalized along with the famous Doge NFT and. The Ross Ulbricht Genesis NFT Collection, which raised more than $6 million last week, was sold. The collection will be divided into pieces and split among members of a decentralized autonomous organisation (DAO).