Phynite Docs
  • About Phynite
    • Welcome to Phynite
    • Our Team
    • Tokenization and Vaulting
  • Technology
    • Overview
    • Phynite Protocol
      • 1. Introduction
      • 2. Contractually Bound Non-Fungible Tokens
      • 3. Standard Legally Binding Contract
      • 4. Digital Signatures
      • 5. Off-Chain and On-Chain Storage of Digital Signatures
      • 6. Specialized CBNFT ERC-721 Smart Contract
      • 7. Minting
      • 8. Conclusion
      • 9. References
  • LOGISTICS AND LEGAL
    • Asset Storage and Insurance
    • Redeeming and Shipping
    • Adding Funds
    • User Agreements
      • Terms of Service
      • Terms and Conditions For Online Sales To Consumers
      • Privacy Policy
    • Phynite Anti-Money Laundering (AML) and Know Your Customer (KYC) Policies
      • Anti-Money Laundering (AML) and Know Your Customer (KYC) Procedures
  • Phynite Packs
    • PHYNITE POWER PACK
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  • What is Phynite?
  • The Phynite Protocol, Summarized
  • Why Phynite?
  1. About Phynite

Welcome to Phynite

A brief summary of what we do, how we do it, and the benefits of using Phynite.

NextOur Team

Last updated 1 year ago

What is Phynite?

Phynite redefines the experience of collectible management by introducing a pioneering Web3 marketplace. This platform empowers users worldwide to effortlessly tokenize and securely vault their cherished collectibles. With the convenience of Phynite, you can entrust your collectibles to the expert care of . Here, they are not just stored but transformed into digital assets, minted directly into your digital wallet.

This innovative process leverages the robust security of blockchain technology. As a user, you gain the flexibility to trade or opt for the redemption of your physical collectibles at any time, from anywhere. Phynite's commitment to seamless integration of physical and digital collectible realms offers you an unparalleled experience in the world of collectibles.

The Phynite Protocol, Summarized

To bring these benefits to our users, we developed the Phynite Protocol. Our protocol defines how users create, obtain, and “burn” CBNFTs, along with our internal processes for assisting users with each step. We've split the protocol into three sections: Mint, Trade, and Redeem.

Turn your physical collectible digital by submitting your Physical Item Questionnaire and shipping your collectible to Crozier Fine Art for vaulting.

Buy, sell, and auction your digital collectible on our marketplace, and earn 2% of every subsequent trade for items you shipped to Phynite.

Upon initiating the “redeem” function, Phynite will deliver your physical collectible to your doorstep, anywhere, anytime.

Why Phynite?

Physical, Digital, and Legal Security

Through the Phynite Protocol, we ensure the highest level of physical, digital, and legal security for all Phynite users and their treasured collectibles.

Each physical collectible is uniquely identified to a irreproducible digital token on the Blockchain, thus eternally recording collectibles’ ownership and transacton history over time.

While vaulted and in-transit, items are fully insured up to 100% of its market value (upon their entry to the vault) and collectors’ ownership rights are protected through each token's integrated contract.

Unmatched Trading Efficiency

By using Blockchain technology to manage transactions and inventory management, collectors can now trade with each other instantly, regardless of physical distance. With low fees and high speed on every trade, collectors no longer face the timely and costly process of mailing items for each transaction. Additionally, eliminating physical transfers also greatly minimizes the risk of item damage/loss, extra insurance costs, and packaging charges.

2% Royalty on Minted CBNFTs

Along with cost reductions on each trade, we also offer users the ability to earn passive income from their collection. Specifically, users who were the first to mint/hold their CBNFT will earn a 2% royalty each time their item is traded following the first trade.

Example: Ash mints a digital collectible and sells it to Brock for $1,000. If Brock then sells the digital collectible to Misty for $2,000, Ash will earn $40!

Supporting Collectibles Communities

Vibrant Collector Community Phynite invites collectors to exhibit their extensive collections to a worldwide audience, thereby nurturing a vibrant, enthusiastic community of collectors. Valued collectibles that would usually be stored away in private security can now be viewed and coveted by audiences worldwide. This improved visibility not only fosters a dynamic trading environment, but it also initiates meaningful interactions among collectors, thus leading to the creation and development of niche collector groups.

Collectibles shipped to Phynite are re-verified, photographed, and secured in environmentally-controlled, 24/7 monitored vaults through our vaulting partner prior to minting.

Join us at Phynite and experience a new era of digital investment in physical assets. Digitize, trade, and earn – all on a single platform. Phynite is more than an investment platform; it's an ecosystem, a community, and a revolution in the world of tangible assets. Embrace the future now, only on Phynite!

Crozier Fine Arts
Crozier Fine Art
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