Reinvention

The instant gratification society has made auctions, like those on eBay (versus fixed discount pricing), less popular.

It’s worth noting that eBay wasn’t pushing these trends. They make money on the transaction regardless of the method of sale, and they want items to sell for the highest price possible. These trends are adaptations of sellers to the marketplace’s buyers. That’s why these trends should be instructive to those who sell things to other people—no matter what method of marketing is used.

Traditionally, the gem market is viewed as being able to run successfully only with the current infrastructure and auctions, ensuring prices are stable & thus profitable for all parties concerned. It is the argument of the cartel - exerting restrictive or monopolistic influence on the production and sale of a commodity, aimed at regulating prices, and output. Members maintain their separate identities and financial independence while engaging in common policies.

Unlike auctions, asset holders can sell in full or in part on the token market, as their wants and needs dictate, anchoring or realizing the value of their asset/assets. The token market provides asset owners and suppliers flexibility and direct access to a new, ever-deepening market with minimal mediation and costs.

Major auction houses have already blurred the lines between fiat and cryptocurrency payments, as well as promoting and participating in the purchase and sale of digital assets such as Non-Fungible Token (NFT’s).

The internet and fintech have fundamentally altered our ways of interacting, trading, and conducting business; asset-backed tokens (increasing use of blockchain) are an extension of that and will play an integral part in helping to transform, and at the very least, upgrade the current market dynamics for gems.

FIX00 utility token provides a portal to this exclusive market and a demonstration of a new and innovative way of doing business, one which can affect real change on both sides of the market.