WTF Is the Quidd?
At this point, you have at least heard of NFTs.
How couldn’t you?
The NFT market went completely parabolic.
It generated over $2.5 billion in sales volume only in the first half of 2021. That surge in volume generated huge interest.
One of the first NFT marketplaces, Quidd, just launched the QUIDD Token. It will be the native token of the Quidd marketplace.
In this article, you’ll learn everything about Quidd and its token. Is it a cash grab or a legit project?
Read on to find out.
What’s the Quidd marketplace and its native token?
Quidd is the first marketplace for digital collectibles and NFTs. The first collections on it pre-date CryptoKitties with more than 18 months.
As of now, Quidd has more than 7 million users. It stores over 2.1 billion collectibles and allows more than 6 transactions per second on its aftermarket.
Back in 2016, when no one had heard of NFTs, Quidd launched as a free-to-play mobile app. It allowed collectors to create an account, use in-app purchases to buy virtual currency for their wallets, so they can use it to purchase digital trading cards, toys and other collectibles and add them to their collection.
They could even trade these collectibles in the Quidd’s aftermarket. The app allowed users to buy their first digital collectible in 60 seconds. Since its creation, Quidd invented tons of features that are now used by most NFT marketplaces.
Here are a few of them:
- Allowing different artists to issue their own licensed digital collectibles.
- Supporting mobile-optimized 3D models for animated figures.
- Allowing users to pinch, zoom, rotate, swipe and flick digital trading cards and other 3D objects in the marketplace.
- A print count that represents the total number of copies of an item. This count can’t be changed, so it makes the supply of each collectible fixed.
- Each item has a unique serial number.
- Each item’s metadata is public, so the community can verify whether or not an item is original.
But the real game-changer was allowing users to carry their entire collection in their pocket.
While other marketplaces were looking to offer new NFTs on their platform, Quidd got 325 partnerships with some of the biggest media brands in the world, such as:
Most recently, Quidd opened a private beta for user cash accounts. It allows collectors to fund their account with a debit card, withdraw funds via PayPal and sell any item from their collection for cash.
What makes Quidd unique?
We have to start with their vision. The goal of Quidd is to be the go-to marketplace for digital collectibles for the next 100 years. The company calls it “100 years of Quidd.” This shows that the team is here for the long run. The recent inclusion of the cash account is another step towards the “100 years of Quidd” goal.
Also, Quidd goes after a huge market - digital collectibles. It was worth $372 billion in 2020. And with the recent rise of NFTs, the entire industry is going to become a lot bigger.
What’s the utility of the QUIDD Token?
The QUIDD Token will align the incentives for both Quidd’s collectors and additional participants, including artists, retailers, producers, rights-holders. It’s the official token of the Quidd community, and it has one simple goal - to sustain the community over the next century.
The QUIDD Token will:
- Help collectors earn more QUIDD by performing certain activities that generate long-term value for the entire community.
- Provide holders with discounts on aftermarket sales fees and exclusive buying windows.
- Give the stakers of the token access to more tools and services like volume discounts on sales fees.
- Fully integrate with the cash wallet in early 2022, allowing users to price and settle their transactions in QUIDD Token instead of fiat.
- Provide token holders with governing rights. They can vote to determine how Quidd’s funds are deployed.
The total supply of QUIDD is 1 billion tokens. They were minted at one time, and there won’t be any other minting or burning of tokens.
Who’s behind Quidd?
The Founding Team
The CEO of Quidd is Michael Bramlage. He is the former VP of Digital at Topps. In that role, he created a franchise that grossed more than $125 million in digital trading card revenue. Michael was also the former head of product for Nokia’s mobile app store. He launched and scaled their marketplace to 3.6 billion annualized downloads.
The VP of Engineering at Quidd is Timothy High. He has 25 years of software development and software architecture experience. Timothy was the former CTO of PagPop, one of the leading online payments providers in Brazil.
Right now, Quidd has 11 team members spread all over the world. The team has more than 20 years of experience in the collectibles market.
- Yat Siu, the co-founder and CEO at Animoca Brands.
- Robby Yung, the CEO of Animoca Brands
- Sherman Lee, the co-founder of Raven protocol.
- Mark Cheng, a partner at Mind Fund Group.
Quidd was originally backed by Sequoia Capital and is now part of the Animoca Brands family. Yat Siu led the acquisition of Quidd in 2020. His goal is to turn Quidd into a blockchain-based marketplace filled with thousands of branded NFTs.
Animoca Brands’ track record is more than impressive. They have invested in almost all successful NFT and gaming companies like:
- Dapper Labs - the company behind CryptoKitties and NBA TopShot.
- The Sandbox - a decentralized virtual world game similar to Minecraft.
- F1 Delta Time - the official blockchain-based game of Formula 1.
- OpenSea - the first and largest NFT marketplace.
- Axie Infinity - one of the most popular and successful blockchain games.
Quidd and its native token have huge potential. For one, there’s already a working product - the Quidd marketplace. You could go on their website right now, log in and start purchasing digital collectibles. This gives Quidd a huge advantage over its competitors.
Also, the founding team, its advisors and investors have massive experience in the crypto space. This makes Quidd one of the most promising projects in the crypto and NFT space.
You should definitely keep an eye on the QUIDD Token.
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