How are digital collectibles different from physical collectibles?
Physical and digital collectibles have many similar traits, such as strong fan affinity and pride of ownership (otherwise known as "bragging rights" as you show off your collections).
However, digital collectibles have many advantages over physical collectibles. The advantages of digital collectibles over physical collectibles include:
Prevention of Counterfeits - A digital collectible's authenticity is more reliable and easier to manage. It is tied to a Non-fungible Token (NFT), the digital equivalent of a certificate of authenticity, and solves many issues around fraud that can occur in the physical world.
Better Storage and Shipping - A digital collectible is easier to store and ship without wear and tear that can occur with physical collectibles.
Better Sharing - A digital collectible has vastly better sharing options if you want to show your collectible or collection to friends, family, or the public. You can do so over text, email, or a public showcase. You can also present your digital collectible online or in an offline frame that has storage and display capability.
A fan or user can have the same thrill, affinity, and enjoyment from owning a digital collectible as owning a physical one, plus all the conveniences of better authenticity, shipping, storage, and sharing.
I've heard of NFTs. Are they related to Bitcoin?
NFTs are similar to Bitcoin and other cryptocurrencies only because they use the blockchain to prove ownership.
A Non-fungible Token (NFT) is a type of cryptographic token representing something unique.
Non-fungible tokens are not mutually interchangeable and can't be divided into smaller parts. NFTs can therefore be used as unique digital collectibles. Each NFT has its own unique "immutable data," such as total inventory, artwork, audio files, and other information which can never be changed.
By contrast, Fungible Tokens like Bitcoin or cryptocurrencies are very different. Like money, it is divisible into any number of smaller units, and it does not matter which unit you own. Each unit is uniform and interchangeable with any other. This makes fungible tokens useful as a currency.
I don't want to be involved in Crypto. Can I still participate?
Absolutely. Our marketplace platform enables you to buy and trade using only a credit card. You are not required to go through the difficult steps of creating a wallet, buying crypto, then buying an NFT. A default wallet that stores and protects your collectibles is automatically created for you when you sign up.
When you buy, hold, or trade your collectibles, they are all represented in your local currency. No need to worry about any changing prices related to the crypto markets.
That said, for collectors who WANT to buy with crypto and connect a wallet, that is an option. But it is not required to participate.
What is the value of my digital collectible?
A digital collectible's value is personal, based on your connection with the item you are collecting and how it complements all your other collectibles, both digital and physical.
One person might love to have a digital collectible from a team or athlete and have a connection, while someone else might not have the same connection and see no reason to get it, just like collectibles in the physical world!
You should collect, purchase or trade for a digital collectible for your personal use and enjoyment, and to potentially earn rewards. You should not purchase a digital collectible with the expectation of making any profit from selling, as there is no guarantee that you will be able to find a buyer for it. Even if you can find a buyer, you may not be able to get the same or higher value you paid for it.
Legacy League, Clemson Athletics, and Sweet, nor any of the athletes represented in a digital collectible, are undertaking any obligation to support or encourage any price appreciation of any digital collectible.