Let's get phygital: The NFTs backed by real-world collectibles

cointelegraph.com:

When it comes to NFTs, bemused skeptics are often confused as to how virtual pieces of artwork can be worth millions of dollars.

Of course, this criticism usually misses the point. You may take a photo of the Mona Lisa inside the Louvre, but it just isn't the same.

Now, a new community-owned marketplace is taking on the naysayers by offering nonfungible tokens that aren't just digital goods.

ClubRare says each of the NFTs in its collections represent ownership of a real-world authenticated collectible — and they can be brought to life in the metaverse.

The project points to industry experts who have predicted that the crossroads between physical and digital worlds is where crypto industry, especially the metaverse, are heading next.

And it's formed an official partnership with The Sandbox — one of the world's best-known metaverse brands — to ensure that ClubRare collectors can make full use of their NFTs in an immersive way.

Going forwards, both platforms are going to work together to create beautiful limited-edition projects — with a storefront for ClubRare making its debut.

ClubRare's marketplace is at the beating heart of its universe, a decentralized trading platform that's owned by the community. Real-world, exclusive merchandise can be snapped up in a heartbeat — and from there, all purchases are replicated in NFT form. It's like buying a beautiful new T-shirt, and getting a complementary virtual one that your avatar can wear too.

An exclusive collection of nonfungible tokens known as the Lazy Leo Club has been launched that delivers "special powers and abilities" throughout the ClubRare ecosystem, and just 10,000 of them exist.

But that's not all. A governance token has also been established to ensure community members can