Phygital NFTs

The time has come to change the rules of NFTs. To change them into phygital utility NFTs.

Phygital NFTs

Phygital NFTs is concept where a physical item is backed by a digital counterpart, or vice versa. Hence the name: Physical + Digital = Phygital

Why phygital?

Our NFTs preserve all the classical features of the NFTs that determine their value:

• Rarity and scarcity.

• Design and artistic value.

• A story behind an item.

At this point, we introduce one major change. We are creating physical items behind each NFT collectable, turning them into phygital NFTs with utility features. This allows filling a currently existing gap where most NFTs have no or limited intrinsic value, traction, or application. Our physical NFTs offer several game-changing points:

• Intrinsic value. Each physical collectable will be made of unique materials, adding an additional value to the NFT.

• Redeemable NFTs. If a user decides to own a physical item instead, the NFT will be burned via our platform and the physical item is then sent instead.

• Easy trading and exchanging. Digital NFTs can be easily traded on the secondary market without the need to worry about physical items behind them. Transfer of the NFTs to another person transfers the right to claim the corresponding physical item.

• Utility. Our NFTs will play a very special role within the ecosystem, granting the owner exclusive perks for as long as the ownership of the NFTs is retained.

Burning and claiming

Overview

Each NFT is 1:1 backed by a physical collectable. In simple terms an NFT serves as a digital proof of the ownership for a certain and a unique item. The owner of the NFT is eligible to claim the physical collectable at any moment without an expiration date. This will be done by burning NFT via the tool provided on our webpage. The exact process from digital NFT to physical item is:

• Collector purchases NFT directly from the company. The NFT can be stored in a personal wallet, transferred, or traded on a secondary market.

• Collector burns his NFT via a dedicated tool on the webpage, to allow the collection of shipping details and actual burning.

• XPmarket will organise the shipping to the collectors location. Each card will be delivered in a unique packaging, maximising the experience and joy.

NFT burning has an important role - it prevents the double-spending problem. As a result, a collector who has claimed the physical object for the corresponding NFT will not be able to resell it again. The NFT will be permanently removed from the circulation, protecting potential buyers.