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Facebook launches an ETH-based digital collection application sponsored by ConsenSys Ventures

A New York-based startup founded by a group of veterans of Facebook, has launched a mobile ethereal support (ETH) social application that supports the creation and sale of unique digital collectibles.

The startup, dubbed “Editional,” closed the start round at $ 1.5 million thanks to support from well-known cryptoinvestors, including ConsenSys Ventures, Digital Currency Group and CoinFund.

The consumer-level notebook chain application, which will be launched in the iTunes store for iOS devices on April 30, allows users to upload their digital drawings or designs directly using the phone and present them as a unique collection resource for the community.

The creators will be able to release a certain number of releases of their work and turn them into cash tokens that can be exchanged by online collectors in open digital platforms, such as the decentralized application of the blockchain OpenSea, with which Editional is integrated.

The press release emphasizes the usefulness of the blockchain technology for creating and selling unique collectibles, emphasizing that:

“Checking the blockchain allows each piece to be truly unique with built-in provable ownership and transaction history, as well as to prevent fraud and unfair reproduction and resale of unique pieces.”

The application also focuses on the social aspects of creating, selling and collecting works of art, supporting chat and tracking the creator’s functionality in an effort to stimulate the online community.

As reported in a special analysis, Facebook’s position on cryptocurrency has undergone significant changes during 2018. After cryptocurrency advertising was once banned, the social networking giant is now allegedly considering launching its own stable fixed-binding coin for users of its fully owned messaging service WhatsApp, Messenger and Instagram.

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