Corporate Finance, DeFi, Blockchain, Web3 News
Corporate Finance, DeFi, Blockchain News

House of Rare disrupts investing and trading of scarce collectibles, launching the first asset-backed NFT marketplace on Concordium blockchain

The Concordium blockchain will be used to launch House of Rare's asset-backed NFT marketplace for fine spirits, leveraging Concordium's novel ID framework to ensure that end user have the necessary attributes for the purchase for vendors legal compliance, such as age and jurisdictions.

House of Rare pioneered real item-backed NFTs with their first collection - RAREtequila. The collection consists of 777 NFTs, each redeemable for a bottle of highend limited edition tequila. The future plan is to branch out into the world of fine wine, champagne and cigars as additional assets in the near future.

Noticing the legal nature of these assets the marketplace will be developed on the Concordium blockchain to leverage the user friendly and privacy conserving Concordium ID-Layer, to achieve compliance with local authorities. Zero-knowledge proofs will help to verify whether customers are old enough to purchase alcohol in their country of residence while protecting personal data.

Users and collection creators will have a full suite of features to their advantage that will facilitate a personalized and joyful experience on the marketplace. Each House of Rare NFT has a real-life 1:1 item, fully redeemable by the buyers. The trustworthy custody of these assets will be transparently disclosed. Collectors are thereby ensured their NFT has real-life value and is scarce. This is a crucial aspect that will provide security for collectors. Furthermore, House of Rare will offer full collection integration. This means that collectors have full customizability and whitelisting options on sites of collection creators.

Miguel Ortiz, CEO of House of Rare, says: "We decided to develop on Concordium because of its network structure. The ID-layer ensures that the end user has the necessary attributes for the purchase and is located in a jurisdiction where we can sell our products. The decentralized approach and privacy measures adopted by Concordium made it an obvious choice for us."

"Asset-backed NFTs are the future of NFTs, unlocking fractional ownership, liquidity, and value transfer by linking real-world assets to digital ownership and expanding the universe of tokenized assets. Our partnership with House of Rare will tap into the huge potential of asset-backed NFTs," says Torben Kaaber, Head of Commercial at Concordium.

SOURCE Concordium


Disclaimer: The text above is a press release that was not written by
The issuer is solely responsible for the content of this announcement.

Avertissement : Le texte ci-dessus est un communiqué de presse qui n'a pas été rédigé par
L'émetteur est seul responsable du contenu de cette annonce.


Les avis financiers et/ou économiques présentés par les contributeurs de (experts, avocats, observateurs, bloggers, etc...) sont les leurs et peuvent évoluer sans qu’il soit nécessaire de faire une mise à jour des contenus. Les articles présentés ne constituent en rien une invitation à réaliser un quelconque investissement.

The financial and/or economic opinions presented by contributors (experts, lawyers, observers, bloggers, etc.) are their own and may change without the need to update the content. The articles presented do not constitute an invitation to make any investment.

Vendredi 24 Février 2023