Published on June 30th, 2021 | by Guest Editor0
AGS Releases Collector Coin, First Cryptocurrency for Collectors
AGS, Inc. recently announced the launch of Collector Coin, the first cryptocurrency for collectors. They made the announcement at Collect-a-Con, an event focused on trading cards, sports cards, comics, video games, toys, and more in Frisco, Texas, this past weekend.
AGS offers automated grading services to instantly add and grade any Pokemon card with machine learning technology through their mobile app. The app is currently in beta testing.
“Humans are prone to error. Computers are not. We believe grading cards should be an exact science. Current grading services are inaccurate, expensive, and extremely slow,” said Gary Haase, aka The Pokemon King. “Our team has created a scanning system that can provide valuable data about the card being graded. We have developed software to analyze the data from our scanners that will give each card a 99.99% accurate grade. We know that card grading will be done by computers eventually. We are doing it now.”
Collector Coin has also launched a cryptocurrency that goes hand-in-hand with collecting. Collector Coins will become the new standard method to buy, sell, and trade collectibles. The current collectibles market is an estimated $370 billion. In the collectible market, proving the authenticity and verifying ownership is vitally important. Smart contracts on the blockchain allow collectors to authenticate and prove ownership of collectibles. This validation of provenance helps to scale transparency to the collectibles market.
Collector Coins have a total supply of 1 billion coins. The original minting was 100 million Collector Coins. The remainder of the coins will be minted at fixed rates over the next ten years. Every quarter, AGS will spend 25 percent of profits to buy back Collector Coins from the open market, rewarding holders by driving up the token price and providing continued liquidity of the Collector Coin.
Collector Coin is built on the Binance Smart Chain, the largest and fastest-growing crypto ecosystem. Twenty percent of the tokens were given to the founding team, 25 percent will be awarded to RoboGrading users. Fifteen percent of the token are reserved for new investors and AGS, and buyers from public exchanges such as Binance and Pancake Swap. Twenty-five percent will be awarded to users of the AGS database, and 15 percent will be held in reserve and used to grow the Collector Coin economy or be given to developers and employees of the Collector Coin foundation, a non-profit organization to build and scale Collector Coin.
Collector Coin holders also receive VIP service for RoboGrading on the AGS mobile app. In addition, they will get faster and cheaper pricing and have access to premium features based on their account tier.
The company is focused on Pokemon cards at this launch stage. However, as the coin matures, AGS envisions introducing the machine learning validation process to other collectors’ items worldwide.
For more information, visit https://agscard.com/collector-coin.