1. Startups

Collective Announces Presence, Provides Friendly NFT Platform for Indonesians

Still running in the "closed beta" version, in partnership with the Indonesian Baskeball League for the first time to reach sports fans

Behind the hecticity of NFT in the global arena, there are not many platform choices marketplace which is in accordance with the customs of the Indonesian people. This opportunity wants to be worked on by Collectible pioneered by Pungkas Riandika.

In a joint interview DailySocial.id, Pungkas explained that Collectible was designed from the start to bring NFT to be adopted by Indonesians as early, as quickly and optimally as possible. “We want this good news [collecting NFT] to be adopted by the community. Collectors can use digital payment instruments that are used daily to collect NFTs,” he explained.

Different from marketplace others, Collectable stands on network public blockchain Vexanium for registration of NFT ownership. Vexanium is the only one public blockchain native to Indonesia with a legal entity in the form of a foundation (Vexanium Teknologi Nusantara Foundation) created by Danny Baskara.

Pungkas said the decision to use Vexanium was closely related to the beginning of the birth of the Collectible which came from discussions with the community, which consisted of business people, lecturers, and social media activists in the industry. blockchain. After a long discussion, he viewed Vexanium as an experimental endeavor utilizing technology blockchain in creating more use case.

For Kolektibel, of course it will be easier to access the Vexanium team if there is a need because they are fully legal and the team is in Indonesia. Moreover, the process minted in Vexanium fairly economical and real-time because its global adoption has not been massive. "That's why at this early stage we chose Vexanium to grow together."

In terms of NFT availability, Kolektibel implements curated content from IP owners who are officially and have a good reputation, not creators who are free to put their work on the platform. Before entering the mining process, the IP owner will hand over his various assets consisting of memoribilia, kaleidoscope, and others to the Collective. Furthermore, these assets are repackaged with more interesting narratives for collectors to collect.

"We want to create marketplace Honest and trustworthy NFT means we understand that this industry has a lot of negative impressions. So what we are trying to develop is marketplace which legally and officially serves NFT from curated IPs.”

Using Rupiah currency

Another striking difference is that Kolektibel does not use cryptocurrencies as its NFT payment method, instead using fiat alias the currency prevailing in the country, namely Rupiah. The company has integrated with popular digital payment instruments, such as Gopay, OVO, Virtual Accounts, debit/credit cards, so you can pay through Alfamart and Indomaret.

In the global arena, this concept is not something that has been recently adopted by NBA Top Shot, which uses the dollar currency for NFT transactions. This platform was created by Dapper Labs which uses blockchain FLOW.

concluded that this step is expected to be breakthrough for Indonesian people because they can directly collect NFT in an easy way. "If you pay attention" in DeFi to transact using crypto it takes a long process, one of which must have wallet, there is gas fees, etc. That makes NFT adoption difficult.”

After purchasing NFT in primary market, the collectors can certainly re-sell their assets to secondary market at a price they set themselves. Collectable set revenue sharing with IP owners for each NFT asset sold at a percentage according to their respective agreements.

Through the first appearance of the Collectible, Closed beta, the company cooperates with the Indonesian Baskeball League (IBL) as the first IP partner. For IBL, this innovation is a way to bring basketball and IBL fans closer together with their athletes. IBL prepares video documentation of matches, carefully curated based on important moments in the match.

Shortlist moments are visually repackaged and registered into the blockchain smart contracts, which makes each asset recorded historical ownership data. Interestingly, continued Pungkas, in the division revenue, IBL also provides profit sharing for its athletes providing additional welfare for the athletes and the club itself.

After IBL, Collectible will target other IP owners who have various assets with categorization in sports, creative, legendary moments, and culture. When viewed from its derivatives, there will be more NFT assets that collectors can collect. “Sport has dynamics that are fast and close to the community. Therefore, this category is our step to understand further how the future development of NFT will be.”

Next plan

Kolektibel is a startup dropout from Starcamp, venture builder made by Ideosource. Ideosource itself manages two fund, including Ideosource Entertainment and Gayo Capital. Thanks to the presence of Starcamp and its extensive network, it is very helpful for the company, both morally and materially, so that it can execute every plan quickly.

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"We are greatly helped from the technology side, back office, Finance, project management, and others. We know that NFT moves fast so it is necessary stakeholder and partner who can move fast too.”

According to him, NFT will be the first step for Collectibles in utilizing technology blockchain. NFT can be a new access in the embodiment of a new form of loyalty program in a company brand and gateway to retail metaverse. "Draft metaverse and NFT want us to sew together soon, so we feel that if we talk about NFT now, the metaverse will not be too far ahead.”

Pungkas believes that NFT will be the key to the future because it can be a second life for IP owners. NFT can translate in its own way without relying on one particular entity, pure trust from the community. “We feel community building will be forte from Kolektibel, in addition to utilizing blockchain technology and NFT itself,” he concluded.

As an entity, Collective is registered as a Limited Liability Company with the legal entity as marketplace. Company wearing blockchablin What is ter-decentralized for recording ownership of digital assets, but not using cryptocurrencies for transactions. Thus, Kolektibel did not enter CoFTRA's surveillance radar.

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