New York startup secures $1.5MM seed round for blockchain-powered digital platform enabling the creation, discovery, and ownership of limited edition collectibles
NEW YORK, April 30, 2019 – Editional, a New York startup connecting creators and collectors socially, today announced the official launch of its Ethereum-powered mobile application that allows anyone to create, claim, and trade unique collectibles online.
With a $1.5 million seed round from notable investors, including ConsenSys Ventures, Digital Currency Group, and CoinFund secured, Editional is one of the first consumer-grade applications using blockchain to go live on the App Store for iOS devices.
The Editional app is designed for anyone, so that in a matter of seconds, a ‘creator’ can upload imagery directly from their phone, (or design any type of digital art), assign a set number of editions to be released, and then present it to the community for their ‘collection.’ Collectors can then race to get an edition for themselves before they’re all gone. Editional encourages the social aspect of creating and sharing art – enabling users to follow creators, chat with them directly, and claim unique pieces for themselves. The advantages of blockchain verification allows each piece of work to be truly unique, with embedded provable ownership and transaction history, as well as preventing fraud and the unfair reproduction and reselling of unique work.
John Egan, CEO of Editional and former Facebook Product manager, said
I’ve been really excited to see the growing interest in digital collectibles and the power this new medium grants to creators – the barriers to entry have historically been too high for most people to get involved. With Editional, anyone can discover and create next-generation art and creative digital content right on their phone, without having to learn about blockchain technology. Our teams’ experience working on social platforms for a combined three decades puts us in a great position to truly put collectibles in everyone’s pocket, allow creators to create more unique and lasting relationships with their fans and followers, and be part of a vibrant, interactive, and fun community.”
Editional facilitates relationships built around ownership of unique content. On Editional, scarce items are created which can then be owned and traded, allowing digital creators to engage with fans and vice versa.
Jake Brukhman, Founder of CoinFund, said
Editional allows creators and curators to tokenize, collect, and monetize digital works of art like never before using blockchain technology. We hope this is a glimpse into the possibility of art markets of the future.”
While claiming and creating collectibles on Editional is free, the app also integrates with other blockchain dapps like OpenSea, where owners of collectibles can sell their items on the open digital marketplace. Editional also provides each user with a personal Ethereum wallet address to securely store all of their collectibles at no cost.
Editional has a different value proposition to the giant social platforms we are all used to. We think it’s time to give power back to creators. Editional allows for relationships to be built around the content on the platform, so we are incredibly excited to watch the community take shape. It has an exclusive feel mixed with the rush of competition to claim the best collectibles before they’re gone or to create the next thing that everyone wants. Creators and collectors can retain the element of prestige and bragging rights with the content they own, and either hold their best pieces, or trade them at later dates when the demand merits, or the right offer comes along.”
For more information, please visit https://editional.com
or download the app here.