Digital Collectables

A digital collectable, often referred to as a NFT (Non-Fungible Token), is a type of digital asset that represents ownership or proof of uniqueness of an item or piece of content, such as artwork, music, videos, and more, using blockchain technology.

Unlike cryptocurrencies like Bitcoin or Ethereum, which are fungible, meaning each unit is the same as every other unit, digital collectables are non-fungible, meaning each one is unique or limited in quantity.

The uniqueness and ownership of these digital items are verified and tracked on a blockchain, which is a decentralised digital ledger. This ensures that each digital collectable is one-of-a-kind, with its ownership easily verifiable and transferable. As a result, digital collectables can be bought, sold, and traded on digital marketplaces.

Digital collectables have gained significant popularity in various industries, including art, gaming, sports, and entertainment, offering a new way for creators to monetise their works and for collectors to invest in digital assets. They can also include utility beyond mere ownership, such as access to special events, additional content, or participation in online communities.

EQLX Sport Specific Digital Collectables

EQLX enables users to mint sports tailored Digital Collectables as NFTs on the XRP Ledger. EQLX digital collectibles utilise the XRP Ledger XLS-20 standards with media and metadata minted saved to IPFS (InterPlanetary File System).

IPFS provides a decentralised storage and distribution system. The XRP Ledger provides a decentralised and transparent way to record and verify transactions or data. This is what enables and verifies ‘digital ownership’ within EQLX.

EQLX Feature	Minted Moment	Sports Stat Mint	Post
Digital Collectable (NFT)	✅	✅	❌
Buy / Sell	✅	❌	❌
Digital Signature	✅	✅	❌
Super Like	✅	✅	❌
Comment & Like	✅	✅	✅