Coin collecting dates back thousands of years. Many of the world’s great civilizations have produced beautiful coins with recognized value. Lately, crypto-currencies have created their own virtual coins like Bitcoin or Ethereum. I’ll explain how it works below, but we are bringing these real collectible coins to the Ethereum blockchain.

Coins have traditionally been difficult to buy, hold and then sell. You had to go to a coin or bank, and get a safety deposit box there. However, if you wanted to sell, you would have to physically go back to the vault, retrieve the item, and then figure out how to sell. While auctions like eBay have allowed you to re-sell these collectible coins all over the world, they charge high fees and require complex listing process. EtherMetal allows you to buy collectibles through a simple operation on Ethereum. Storage fees can paid from anywhere. Other than the low Ethereum gas costs, we charge no fee to buy and sell the coins.

The blockchain contain an unchangeable record in a defined order. We start by creating a contract, which defines the operations possible on the blockchain. You can view our contract at https://github.com/ethermetal/ethermetal/blob/master/contracts/WarehouseReceipt.sol. This contract covers like things buying and selling the coins, transfer of ownership, and storage costs. Initially, we receive in our physical vault, and enter it into the system. Then, anyone can buy the collectible coin, and it is recorded on the Ethereum blockchain. If you want to sell, you can re-list it for sale on the Ethereum blockchain. If you want to pick it up, you can enter your name, and go pick it up at the store.

Trying Ethermetal

Note: Our dapp is currently in test mode, and we will be live soon.