Tibles, founded by Erich Wood the man behind the success of two well-known NFT projects Topps and Quidd, is a marketplace that will allow online trading of digital collectibles.
The project has raised a staggering capital of $1.14 million thanks to a fundraiser organized by Dapper Labs which brought investments from Multicoin Capital, Warburg Serres Investments, and CoinFund.
The company has struck two partnerships in the pop culture sector, though the names of these partner brands are yet to be disclosed. Moreover, private beta version apps for their products are going to be out next month and public apps will be available in July this year.
Tibles differentiate itself from the rest marketplace not only for using the Barter system, but also focusing on the pop culture.
Tibles (as in collectibles) will provide a marketplace primarily focused on the social aspect of NFTs instead of one that is based on speculation and greed.
Keeping in view of the project’s goal to form an engaging community of collectors who are passionate about collectibles rather than being driven by profits, the platform would not be allowing buying and selling between individuals using money.
Instead, the marketplace will have a barter system where two people can exchange NFTs with each other. For instance, Joe may exchange two of his NFTs for a rare NFT from Anna. Hence, the two parties have traded NFTs directly without using any money.
How Tibles Works
Tibles buy licenses from popular brands that give Tibles the rights to create digital collectibles like trading cards, comic books, sticker books, badges and others. These digital collectibles are stored in the form of NFTs on the Flow blockchain.
Although Tibles won’t use crypto or FIAT for the peer-to-peer transactions, it’s unsure whether NFT owners will be able to move the tokens outside Tibles and trade them for realy money in other, upcoming Flow marketplaces.