Blog post by: Kendra Barnai
Don’t worry, this isn’t some boring history lesson like you had to suffer through back in high school. I’m here to tell you all about NFTs whether you know a lot, a little, or nothing about them and how KSA is now offering NFT services!
NFTs, also known as a Non-Fungible Token, is a unit of data stored on a digital ledger within a blockchain. From there it certifies that the item is a digital asset to be unique and cannot be interchangeable. Interchangeable is a pretty big deal for graded cards because some of the biggest issues and concerns faced within the industry to this day is tampering of cards, counterfeit cards, and unauthorized sales of cards, but with NFTs they can decrease those issues to slim numbers.
Growing up I was very involved with the sports card industry. My dad is the owner of KSA so at a young age I experienced the card grading process, had an involvement in card collecting, and was lucky enough to see other collectors collections whether seeing them at trade shows or having them submitted at the KSA facility. One thing that always was a downer when it came to grading and watching the process was when hearing it was a fake card and then having to tell the collector that his or her beloved Gretzky rookie isn’t even real. Or to have to tell someone that unfortunately their graded card they were eagerly excited to get in the mail was tampered with.
The best thing about NFTs is that it’s taking away these issues. NFTs add more security and authenticity to your physically graded card by pairing a digital twin. NFTs have a unique digital ID that will be specific to that item and in this case, your graded card. So now you will have what we like to call a phygital, physical and digital product. You will receive your physically graded card and if you have purchased one of the KSA Phygital Token Services you will have a QR code on the back of the card label where you can receive your digital product and have the NFT.
KSA is offering three different service levels with different features that the grading company hasn’t offered before. The KSA Phygital Standard Token is your go to if you are just wanting a basic NFT, it will come with the digital product, a detailed description, and of course the card grade. The KSA Phygital Enhanced Token is a step up from even the regular card grading service. Listen up to all my subgrade lovers, you’ve been waiting for this. This service includes the digital item, a detailed description, the card grade and card subgrades of cornering, centering, edges, surfaces, and registration/focus. Last but certainly not least we have the KSA Phygital Elite Token. The elite token includes all features in the standard and enhanced token and also includes a personalized video from Nathan Barnai, CEO of KSA on the background of the card, detail on received grade, subgrades, etc. Exciting stuff right?
So how does this work? How do I get an NFT? Can I get an NFT from a previously graded KSA card? I bet you have a lot of questions. That is why we have designated a specific NFT FAQ page on our website that you can view for those commonly asked questions, and if your question isn’t there, email us! This is a new dimension to card grading that is a change for everyone, even us and so we understand the education, the questions, and the conversations that will need to be had for those who are new to NFTs whether you are a KSA customer for 10 years or 10 days.