In this article we will talk about 4K, a luxury marketplace where from Rolex NFT to limited edition Travis Scott beachgoers are sold and all this in exchange for Ethereum, in this article we are going to explain all the information there is about this platform and also we will explain how to buy there.

Introduction to 4k NFT Marketplace

Hello World! We are 4K. We are building the most incentive-aligned peer-to-peer market in the world, one that is owned by its users. Our mission is to empower people to carry out transactions with more confidence, more transparency, more speed and with a reduction of more than 95% in rates.

Unlike traditional markets that win at the expense of their users, we win together with our users. In this post, we’ll share our solutions to the problems that have plagued peer-to-peer markets and announce the launch of our first product. Let’s dive in!

How 4K improves in established markets

re are several critical problems in existing peer-to-peer markets. se problems include high fraud rates, long delivery times, and high fees.

An even more fundamental problem is that the holders of shares and debt in the peer-to-peer markets are accumulating the vast majority of the value, while the users, the people without whom these markets would be worthless, receive no advantage.

This has been the status quo for so long that many have taken these market dynamics for granted. We have a solution to distribute value more equitably and create a more resilient business.

Before we dive into that solution, let’s start by reviewing existing marketplace offerings, starting with eBay, to get a better idea of ​​the current state we’re improving in.

eBay

When shopping on eBay, buyers have no way of knowing if the item’s condition in the images is an accurate representation of the item’s current condition. Even if the item is in the same condition, buyers have no way of knowing whether the item is a worthless knockoff or an authentic item.

Selected markets as equals

We are not the first to point out these problems. Various teams have recognized these problems and sought to solve them by serving as a layer of healing and authentication. y whitelist certain products for sale, and each time a buyer and seller reach a price at which they want to transact, the seller sends the items to the selected market to verify that it is authentic. If verified, the market sends the item to the buyer.

While these select markets offer improvements over eBay, we believe they take two steps forward and one step back. y solve curation and authenticity, but the price one pays, in addition to higher fees, is that the authentication layer adds significant time to the settlement process. Also, because buyers are charged immediately, buyers have charges on their credit card for possibly weeks before knowing if the transaction will be canceled due to lack of authenticity.

We view selected markets on a peer-to-peer basis as a feature set improvement and not a magnitude of improvement.

solution: 4K

So if today’s markets leave a lot to be desired, what is the solution? 4K is the solution, of course;)

At 4K, we offer a marketplace with less fraud, significantly lower fees, and faster settlement times than any established Web2.0 operator. We do this by pre-authenticating and storing items offered in our marketplace before sellers find buyers, so that buyers can shop with confidence knowing that what is listed online is available, authentic, and could be at your doorstep the next day. Is that how it works:

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We whitelisted several items (we started with watches, sneakers, business cards, and other investment grade collectibles).

A user sends us a whitelist item.

We authenticate, secure and store the item and issue the user a digital token that can be redeemed for the physical item at any time. This is similar to a coat check claim ticket. Whoever brings the ticket to the cloakroom keeps the coat. We call this claim ticket a non-fungible token, also known as NFT.

NFT holder can do whatever he wants with his NFT. y can sell it in our market, they can sell it in other markets, they can hold it and just use us as storage, or they can use it as collateral for a loan.

user can exchange their NFT for physical good at any time by sending us the NFT and providing us with a shipping address.

n the user receives the physical item and world peace is achieved (we promise that at least half of this line is correct).

To overcome the even more fundamental problem of stock and debt holders accumulating value at the expense of their users, we will issue a token in the future that will align our incentives with those of our community and allow our community to earn alongside us.

We will share more about our token as we get closer to the token launch. Why this solution is amazing.

For buyers

• Buy with confidence knowing that everything on the market is already authentic.
• Receive your purchase as soon as the next day.
• Pay only the price of ETH gas as a fee.
• Enjoy professional customer service.
• Buy with crypto!
• Coming Soon – Use your NFTs to Yield, Guarantee, Borrow, Lend, and Interact with DeFi.

For Sellers

Pay Significantly Lower Rates – We charge a 1% fee, which is a more than 90% reduction comparison to traditional markets.

• Spend less on shipping – you can ship to our business address by pallet.
• Enjoy white glove service – we authenticate, store, protect and secure your own inventory for you.
• Protect yourself with an instant and irreversible settlement, no fraudulent chargebacks or disputes.
• Coming Soon – Use your NFTs to Yield, Guarantee, Borrow, Lend, and Interact with DeFi.
• For professional traders
• Avoid the need to physically liquidate and re-authenticate items with each exchange.
• Gain access to markets that, until now, have been prohibitively opaque.
• first step: demonstrably fair drops
• Our mission to build the best peer-to-peer market in the world is ambitious and we are doing it with new technology that may take some getting used to. That is why we are excited to announce the launch of our first product, 4K Provably-Fair Drops!

We start with drops for three reasons:

• Familiarize yourself with NFTs backed by physical assets.
• Build confidence in our ability to redeem NFT for your physical representation.
• Excitement about the ability to trade collectibles faster and more profitably.

Available August 28 at 4K.com – ROLEX 41MM SUBMARINER DATE 2021 – COMPLETE SET (BOX AND PAPERS) –126610LN. Retail Price: $ 9,150.00. Secondary market price: ~ $ 15,850.00.

What is a drop?

A “down” is when a company offers a high-demand item to its customers, usually one that will sell out instantly. Sometimes these drops are in person, leading people to wait in line for hours, and sometimes days, to be one of the few to get a chance to purchase the item.

Most often, these drops happen online, so people will quickly update their browsers at the specified time for a chance to purchase the item.

Today’s product downturns are plagued by two critical issues:

• Participants have no way of knowing if the people making the pitch are tampering with the system to make sure their accomplices win (https://www.nytimes.com/2021/03/02/us/ann-hebert-nike. html).
• Even if delivery drivers are acting in good faith, the person who wins a delivery is generally not the biggest fan of that brand, but rather the person with the most sophisticated army of bots moving through the fastest cash flow of what any human could. We know this because we buy and test almost every bot available!
• We have designed our provably fair drop product with these aspects in mind.

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What is a demonstrably fair fall?

A demonstrably fair crash is one in which participants need not fear manipulations or bots.

We solve the manipulation problem by using provable randomness to select a winner. source of this demonstrable randomness is the Ethereum block hash of the first block added to the Ethereum blockchain after the end of the enrollment period. wallet address closest to this block hash wins the drop, making it impossible for us to manipulate the drop.

To protect our drop participants from bots, we require drop participants to sign a transaction from a wallet that has sufficient funds to purchase the drop at the time of the draw. While this does not guarantee the removal of all bots, it makes bot use significantly more expensive and will drastically reduce their impact.

Sponsors

Our investors provide us with more than just capital; they also offer us invaluable guidance that makes our effort possible. That’s why we are so grateful to have the support of the exceptional funds that participated in our first round of funding: Electric Capital, ConsenSys Mesh, IDEO CoLab, Collab + Currency, and Crosscut Ventures.

Whats Next?

We gave you a lot to chew on so we’ll leave things here, but stay tuned for our market launch in August! To receive our latest updates, be sure to subscribe to our mailing list at 4K.com.

4K FAQ

WHY ARE 4K DROP ITEMS ON THE RRP, WHEN THEY CAN EASILY BE SOLD FOR MUCH MORE?

4K is releasing articles on MSRP to raise awareness and excitement for the August launch of the 4K Marketplace, a peer-to-peer marketplace with less fraud, faster turnaround times, and lower fees than other major marketplaces such as eBay. drops are also designed to show people how NFTs can be used to trade tangible goods.

HOW DO THE DROPS WORK?

drops are free to enter. All you need to do is give us your email (so we can contact you if you win) and sign up with a Metamask wallet that has at least the drop value in ETH, USDC, USDT, or DAI at the time of entry and at the time of drawing. . This capital requirement increases Sybil’s stamina by making the raffle prohibitively expensive for raffle bots. wallet with the address that most closely matches the hash of the first block after the expiration of the drop wins the drop, which makes the drop even fairer, as it makes it impossible for us to manipulate the drop.

IF I WIN THE DROP DRAWING, WILL I HAVE TO PURCHASE THE ITEM?

No. winner of the delivery will have 24 hours to complete their purchase. If the delivery winner does not complete their purchase within 24 hours, their ability to purchase is voided and a new winner is chosen. This process is repeated until a winner completes their purchase.

WILL THE WINNERS RECEIVE AN NFT OR THE PHYSICAL ITEM?

Winners receive an NFT that can be redeemed for physical good at any time. Having the item in NFT form allows the owner to trade the item without having to re-authenticate or physically settle each exchange. We also expect NFTs to sell for a premium in the 4K market compared to other markets, so we encourage winners to keep their NFT for a chance to earn additional profit.

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HOW DO I REDEEM THE NFT FOR THE PHYSICAL ITEM?

When you win the drop, your dedicated concierge will contact you to confirm your wallet address and any other relevant information (eg shoe size) before sending you your NFT. You can redeem your NFT for physical good at any time by contacting your concierge. For now, redemptions are only available for US addresses.

CAN I SELL THE NFT? IF SO, WHERE?

Once you have the NFT, you can do whatever you want with it! You can sell it, take it to the metaverse, or whatever else is possible with NFT. We will launch 4K Marketplace in August, which is a peer-to-peer marketplace specifically designed for trading in physically backed NFTs, such as the ones we are eliminating.

WHAT BLOCKCHAIN ​​IS 4K BUILT IN?

We are building 4K on Ethereum due to our philosophical alignment with the values ​​of the Ethereum community and due to the high degree of decentralized security that Ethereum offers. More information about this source text For more information about the translation, the source text is required

How to buy in 4K Defi NFT marketplace?

FIRST STEP TO BUY this Token

• To buy in 4K marketplace you have to buy with ETH and buy it with the ETH network. To buy ETH we have to buy it through BINANCE, the best exchange in the world, once registered and verified, we will go to buy crypto, we put the currency that we are going to use to buy the ETH and the amount and we give it to buy, as and as you will see in the following image.

CLICK HERE TO ENTER BINANCE

SECOND STEP TO BUY At 4K Marketplace

• Once the eth is purchased, we have to transfer the etherum to our wallet, it can be trustwallet or metamask, which we use.
• Here is a tutorial on how to create a metamask portfolio and add it to the browser.

THIRD STEP TO BUY On 4K Marketplace

• Now we have to go to the 4K page in the Drops area.
• Next we will see articles and choose the one we want.

• We choose an NFT that we want and we give “Enter Drop” we put an email and then we give a submit entry.

• And finally, an email will not arrive with the purchase instructions, we follow them and that’s it.

I hope you liked the article and if so, share it on social networks and with your friends.

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