NFT Life Cycle

Minting

The Mint function caters to users who seek to tokenize collectibles that they currently own. It comprises of the following steps:

1. The user verifies their identity through a wallet connection and KYC process.

2. The user posts their collectible to Detrove.

3. Upon receipt of the collectible, Detrove verifies, documents, and stores the collectible in a secure warehouse.

4. The user is now able to mint and list an NFT representing their collectible on any NFT marketplace.

Trading

The Trade function caters to users who seek to trade collectibles without physically owning them.

1. The user connects to Detrove's marketplace, or to any other NFT marketplace on Solana.

2. The user trades NFTs as per normal. No additional taxes, fees, or royalties would apply beyond that which is typical to NFT trading.

Redemption

The Redeem function caters to users who seek to redeem the collectible that their asset-back NFT represents.

1. The user verifies their identity through a wallet connection and KYC process.

2. The user verifies their location, and the NFT they wish to redeem.

3. Detrove estimates the cost of shipping and taxes.

4. The user pays for shipping and taxes, signs a transaction that burns their NFT, and Detrove posts the collectible to the user.