• Dibbs, a sports platform, is Amazon’s first NFT investment

  • Today is the first anniversary of Amazon’s first NFT investment. The now-trillion-dollar-plus corporation has invested in Dibbs, a platform that allows users to fractionalise sports collectibles such as physical sports cards as NFTs.

    Regarding Amazon’s NFT investment, Dibbs

    Dibbs is an NFT-based marketplace created by a startup. Their main selling point is fractionalization, which is similar to what we’ve seen before. Dibbs, on the other hand, takes a different approach to their marketplace. They enable users to fractionalise sports collectibles such as sports cards, making the most expensive cards available to the average collector for as little as $1.

    The physical cards will be kept in storage while fractions are sold as NFTs in the market. This is an intriguing perspective on fractionalization that we haven’t seen before. The platform emphasizes returning power to fans. It recently introduced a new marketplace feature called “Sell with Dibbs,” which allows cardholders to sell fractions directly to other users. They must send the physical card to Dibbs, who will store it in a vault.

    Notably, Dibbs conducts transactions across multiple blockchains. The main blockchain in NFTs is Ethereum, which has a large number of users. Flow, which has advantages such as high transaction capacity, alternative scaling solutions, and developer friendliness. Finally, WAX has the advantages of environmental friendliness and ethics, which Ethereum has previously been chastised for.

    Dibbs’s Current Statistics

    Dibbs has had a lot of users and commerce so far. They had over 100,000 card trades at the time of writing. There are also more than 150 player collections. There are over 500 cards listed. Finally, and perhaps most importantly, the platform has over 17,000 users. This is more than their Amazon investment, which was their first foray into NFTs.

    They’ve also been featured on Business Insider, SLAM, and Forbes.

    Amazon’s NFT Investment

    Amazon was one of the investors in the NFT company as part of a $2.8 million funding round.

    Amazon is currently one of the world’s largest corporations. Based on the funds they have and the users they have on their platform, their investment and belief in NFTs may be critical to the growth of the space.

    The advice that Amazon can provide to the project will be beneficial to its growth. Their financial contributions are not the end of their assistance.

    Dibbs’s Potential Legal Problem

    The project may have one legal issue. Hester Peirce, the Securities and Exchange Commission’s crypto-friendly Commissioner, has been named CryptoMom. She was recently asked if NFTs are securities. Normal collectibles with no revenue earning potential, she replied, are not. She did warn, however, that people should be wary of fractional ownership, which could be interpreted as converting the NFT into a security.

    Peirce discussed fractionalizing something that is already an NFT. It’s unclear whether Pierce’s idea applies to Dibbs. “Physical assets available on Dibbs are assigned NFTs,” according to the company. Then, on blockchains such as Ethereum, Flow, and WAX, fractionalized, with smart contracts defining ownership and other rights.”

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