Taiga Market is a marketplace for fungible digital assets registered on the Ethereum blockchain. Taiga Market proposes to provide the platform by which those inexperienced with blockchain technology or otherwise technologically unsophisticated can create, register, and sell digital assets.
Digital assets are items represented in a digital form that have intrinsic or acquired value. As a first use case, Taiga Market will allow developers to create assets that can be created and sold on the market and used on other platforms. However, digital assets can be any number of things such as photographs, videos, audio files, presentations, graphics, video game extensions (think characters or mods), 3-D Files, .PDF Files, Spreadsheets, or other assets. The above list of digital assets could include, but are not limited to books, music, movies, wedding photos, ringtones, lectures, art, and/or code for 3-D printing.
Taiga Market is agnostic as to which digital assets will succeed on its platform. In this vein, its competitive advantage will be its convenience. As each asset has its own intended audience, price, and volume, Taiga Market will give the creator of the asset the opportunity to easily manage these properties on the platform. Each asset is managed by a Smart Contract owned by the asset creator. Taiga Market will facilitate mass adoption by simplifying the creation of assets.
After the creation of the ERC-721 token in 2017, those in the crypto community began tossing around the terms fungible and non-fungible and taking for granted that their audience knew what they were talking about. Briefly, fungible digital assets are those assets which are mutually interchangeable (think, digital copies of the Top Gun movie). Non-Fungible digital assets are those that contain unique properties and are not mutually interchangeable (think, Cryptokitties). Most consumer goods are fungible assets.
Taiga Market uses an extension of the ERC-721 token to categorize the digital assets on the market. By using the Categorized ERC-721 token no fractional interests of the digital assets are permitted. The asset owner owns the entire digital asset. Thus, digital asset ownership is traceable. The Categorized ERC-721 token also allows for multiple numbers of the same asset type to be registered.
There are several advantages for creators to list their digital assets on the Taiga Marketplace. • Digital Assets are easily discoverable; • Creators can restrict access to their assets (create scarcity); • Creators can sell their assets directly to consumers; • Taiga Market manages ownership of the digital assets.
Going forward, Taiga Market intends to expand the scope of digital assets available on its platform. Additionally, Taiga Market plans to create a library of digital assets for developers to create, register, sell, and trade the assets for their applications on the blockchain.
Taiga Market plans to explore opportunities for collaboration with NuCypher to encrypt access to the digital assets. Taiga Market will also explore storing the digital assets on IPFS. As a marketplace having the goal of facilitating commerce, Taiga Market also plans to explore the integration of stable coins such as the Dai. Price stability for the digital assets will be important to reduce deflationary barriers to commerce.
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