Partnership Announcement
On a bright morning August 6, 2023, two notable players in the blockchain world, Animoca and Harmony, announced a partnership that would see them acquiring Quidd, a startup renowned for its digital collectibles. This collaboration aims to develop a robust ecosystem for crypto collectibles, promising a future that’s less convoluted than your last family reunion.
Scaling the Blockchain Mountain
One of the biggest hurdles in the crypto collectibles space has been scalability. Let’s face it, nobody wants their collectibles to be less accessible than the last slice of pizza at a party. Remember CryptoKitties? That cuteness overload peaked with 14,000 users, but it laid waste to the Ethereum network, which could only manage 14 transactions per second (TPS) — like trying to get a crowded elevator moving! With Quidd boasting an impressive 200,000 users, entering this realm required a larger capacity and Harmony’s blockchain promises just that, supporting up to 10,000 TPS.
What Makes Quidd Special?
Founded in 2017 in New York, Quidd isn’t just another platform. With over 2.1 billion digital collectibles already sold and spanning 325 brand licenses (think Marvel, Game of Thrones, and even Rick and Morty), Quidd is like the candy store for collectors. Not to mention, it has already raked in gross revenues estimated above $10 million! Not bad for a startup, right?
High-Value Collectibles
Animoca’s approach includes extravagant auctions! In a shiny example, Animoca sold a crypto collectible car, the “1-1-1,” for a jaw-dropping $106,428! You could buy a used car or, you know, a digital collectible car… Your choice. To add more thrill to the saga, CryptoKitties once sold rare kittens for over $100,000, making collectors question their life choices and budgets fiercely.
What’s Next?
As this partnership unfolds, we can expect a streamlined and more efficient platform for digital collectors. Animoca aims to onboard its various games onto Quidd, integrating its vast gaming universe. This synergy could very well redefine the blockchain collectible landscape and give us more reasons to keep our eyes glued to our screens.
