Kollect Price (KOL)

Kollect is a blockchain-based gaming platform for card collection games. The whitepaper suggests that the platform empowers an NFT economy through collectible gamification and play-to-earn games. This blockchain-based platform seeks to enable players to earn when they accumulate specific card collections.

Also, the card collectibles market is very lucrative as collectors don't shy away from spending significant funds on various cards and intellectual properties (IP). However, the current market lacks efficiency due to time and information management. Besides this, the market relies heavily on manual verification of each card subjected to trade and consumes a lot of time processing the transaction to the original card owner. Kollect seeks to solve the inefficiency of the existing collectible market through NFTs and blockchain. Through the help of this network, users can get digital ownership through NFT for each IP. Also, card collectors don't have to be afraid of digital fraud as NFT aims to ensure rarity for every digital asset. These NFT-enabled digital cards can also be seen as a tradeable asset.

The Kollect ecosystem compromises collectors, DeFi users, and gamers. This protocol is designed so that each user can get benefits out of the ecosystem. This network claims that their protocol has six components which are as follow:

Further, KOL is the native token of the Kollect ecosystem. Users of the platform can use these tokens to purchase opening packs and synthesize these cards. KOL holders get governance rights for governance matters like IP collaboration and collection book themes.

The founding team members include Vincenzo Lee, Harry Lim, Ethan Chae, and Joy Choi. The platform was launched in the third quarter of 2021.

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