Blockchain powered app for digital collectibles ‘Editional’ launches with $1.5M seed funding

Three former Facebook executives – John Egan, Cole Potrocky, and Zac Morris – have launched a new social app, Editional, which will let anyone create and discover blockchain collectibles.

Based in New York, Editional has raised $1.5 million in a seed funding round from ConsenSys Ventures, Digital Currency Group, and CoinFund. The Ethereum-powered mobile application will enable anyone to create, claim, and trade unique collectibles online.

According to the official release, Editional is one of the first consumer-grade applications using blockchain to go live on the App Store for iOS devices.

“With Editional, anyone can discover and create next-generation art and creative digital content right on their phone, without having to learn about blockchain technology,” Egan said.

“Our teams’ experience working on social platforms for a combined three decades puts us in a great position to truly put collectibles in everyone’s pocket, allow creators to create more unique and lasting relationships with their fans and followers, and be part of a vibrant, interactive, and fun community.”

Using the app, a ‘creator’ would be able upload imagery (or design any type of digital art) directly from their phone, assign a set number of editions to be released, and then present it to the community for their ‘collection.’ ‘Collectors’ can then race to get an edition for themselves before they’re all gone.

“Creators and collectors can retain the element of prestige and bragging rights with the content they own, and either hold their best pieces, or trade them at later dates when the demand merits, or the right offer comes along,” Egan added.

The app uses blockchain technology to secure ownership, allowing each piece of work to be “truly unique, with embedded provable ownership and transaction history, as well as preventing fraud and the unfair reproduction and reselling of unique work.”

Further, to encourage the social aspect of creating and sharing art, the app allows users to follow creators, chat with them directly, and claim unique pieces for themselves. Editional facilitates relationships built around ownership of unique content. On Editional, scarce items are created which can then be owned and traded, allowing digital creators to engage with fans and vice versa.

Users can claim and create collectibles on Editional free of cost. In addition, the app also integrates with other blockchain dapps like OpenSea, where owners of collectibles can sell their items on the open digital marketplace.

Editional also provides each user with a personal Ethereum wallet address to securely store all of their collectibles at no cost.

“Editional allows creators and curators to tokenize, collect, and monetize digital works of art like never before using blockchain technology. We hope this is a glimpse into the possibility of art markets of the future,” Jake Brukhman, Founder of CoinFund, said.