You’ve probably heard of cryptocurrency — most notably, Bitcoin.
The magic behind the screen that allows people to buy and trade Bitcoin and other cryptocurrencies is a technology known as blockchain.
“Next big thing” pundit Don Tapscott has “never seen a technology that he thought had greater potential for humanity.” It may be a bit hyperbolic, but illustrates the power of blockchain technology, nonetheless.
Others predict blockchain will catalyze growth of the global economy by reinventing stock exchanges, asset management — and even the way fine art is bought and sold.
What if they’re right?
And what is blockchain, anyway?
Even in blockchain’s simplest form, it is still pretty technical — so bear with us.
Blockchain is a time-stamped series of immutable records of data. These records are managed by a cluster of computers, which aren’t owned by any single entity. Each block of data is secured and chained to each other using cryptographic principles.
In short, blockchain is beloved by its users because there is no central authority. The shared ledger is open for anyone to see, which makes the entire process very transparent.
It also carries low transaction costs, which makes it highly accessible.
Digibles: your new word of the day.
“#Blockchain is a revolution for good, not for money. It’s about changing the world.” — Joseph Lubin
We agree with Mr. Lubin. That’s why TapRoots grants users the ability to earn, amplify and trade virtual ancient artifacts that carry age-old wisdom applicable in the modern age.
Digital Collectibles — or “digibles” — are part of the weird and wonderful future made possible by the blockchain.
A fun, unique test of this concept that caught on fire is CryptoKitties, a game that launched in late 2017 which allows users to breed and trade virtual cats. One even sold for over $100,000!
No, the apocalypse is not upon us: the CryptoKitties folks use their viral power to support numerous charitable endeavors, including protecting sea turtle breeding grounds (real ones, not digital).
When you have physical collectibles like baseball cards, they can be verified by a baseball card expert. In the digital space, blockchains can verify the traceable ownership of digital collectibles. The blockchain traces where the digital asset came from, who currently owns it, and approximately how much it is worth. A crypto-collectible cannot be easily stolen because it’s unique to a certain blockchain, and it’s cryptographically secure.
That security is one of blockchain tech’s biggest selling points. There are so many stolen ideas on the internet (seriously: just look at the front page of Reddit for repeats ), so a traceable and protected collectible is highly valuable, in more ways than one.
Digital Collectibles Are Changing the Crypto-Landscape
Digital collectibles intrigue so many because of their rarity.
As humans, we crave some sense of uniqueness. That’s why websites like eBay thrive. Since 1997, the website has been a hot-spot for collectibles — we all remember when Beanie Babies hurtled eBay into the public sphere!
Whether it’s winning an auction on that rare bobblehead, unearthing shells along a seashore or discovering digital goodies on our tablets, the thrill of collecting, curating and hunting down new finds continues to enthrall us.
At 500 BC Foundry, we want you to have fun using our app. Taproots offers blockchain-powered rewards, in the form of digital collectible artefacts.
TapRoots will allow you to easily trade, purchase and sell the artefacts you forge within the app, using Coinbase Wallet to access OpenSea .
All virtual artefacts you earn will be stored in your personal Trove on TapRoots but — since you’re descended from a long line of explorers — we know you’ll soon want to dip your toes in something much bigger: rarifying and trading your artefacts through OpenSea.
TapRoots is a game to help you know and grow yourself. Soon, with blockchain-powered rewards, we hope to make investing in yourself even more fun.
Sign up to receive updates and enter our pre-launch contest today!