Tokenized Collectibles Platform Americana Is Bringing High-End Physical Items On-Chain

Tokenized collectibles platform Americana rolled out its "concierge vaulting" service on Friday, creating on-chain solutions for several pain points that afflict the high-end physical collectibles space.

The new service will allow collectors to store their valuable physical items in climate-controlled vaults and leverage a blockchain-powered asset management system. According to the site, the service works by authenticating high-end physical collectibles and organizes the transportation process of the goods to a high-security facility.

According to the platform, the vault will cater to vintage cars, limited-edition sneakers, fine art, fine china and "everything in between."

Those interested in vaulting their items with Americana will have to go through a consultation with the team "to develop a custom intake plan." Once the rigorous authentication and intake process is completed, each asset will be issued a unique digital certificate of authenticity.

Through the Americana website, users can show off their collections, list items for sale and accept offers.

Backed by Reddit co-founder Alexis Ohanian's Seven Seven Six VC firm and NFT marketplace OpenSea, the company raised $6.9 million in seed funding in May 2022. Americana also launched its Something membership token then, which granted holders early access to its beta site. All 9,500 tokens, each priced at 0.069 ETH, or about $130 at the time, sold out. As of writing, the floor price of the tokens has dropped to 0.015 ETH, or about $28.

Americana CEO Jake Frey, who previously founded a private design studio specializing in digital products and has worked with Apple, Snapchat, Shopify and Twitter, said in a press release that the platform was created to remove friction associated with buying, selling and storing high-end collectibles.

"At Americana, we empower physical pieces with digital luxuries," he said. "Bridging the gap, we bring the excitement and convenience of the digital world to tangible collectibles. It's about merging the best of both realms for an elevated experience."

To start, the platform will allow select creators, including contemporary artists Dustin Yellin, Danny Cole and Tom Sachs, to build profiles and offer verified collectibles to Americana members. The platform will be viewable to all collectors whether or not they have a Something membership token.

Americana is also ensuring that secondary royalties are enforced, taking aim at competitors that have recently scaled back on the practice.

In recent years, the capabilities of digital fashion have significantly expanded, with brands and platforms working to bridge the gap between physical garments and digital collectibles.

In February, metaverse platform Decentraland hosted its second Metaverse Fashion Week, showcasing digital garments from fashion brands like Dolce & Gabbana, Tommy Hilfiger and Adidas. In June, Web3 fashion platform SYKY launched The SYKY Collective, a year-long incubator program created to help onboard the next generation of digital designers.