What is CollectCoin
Non-fungible tokens (NFTs) are an emerging asset class that has garnered tremendous notoriety and adoption. While their utilization has been limited to digital goods, Monaco Market seeks to create a bridge to real-world investment-grade goods. Using CollectCoin (CLCT), individuals will be able to purchase, hold, and sell NFTs and their accompanying physical items without needing to take physical possession of the item. They may also redeem the NFT to receive the physical item.
By charging a fee of 1.5%, sellers will be empowered to offer their collections without the hindrance of exorbitant fees. Fees collected by Monaco Market are split equally into 3 parts:
0.5% rewarded to CLCT holders.
0.5% held by Monaco Market for operations and marketing.
0.5% burned creating a deflationary mechanism