What is Monaco Market?
Monaco Market is a curated marketplace that uses non-fungible tokens (NFTs) and blockchain to safely and cheaply allow for the trade of investment grade collectibles.
What is an NFT?
NFTs are created using blockchain technology, which provides a way to verify ownership and authenticity. Each NFT has a unique code that is stored on a blockchain, which can be traced back to the original creator and verified by anyone who has access to the blockchain.
What types of collectibles does Monaco Market curate?
Monaco Market curates collections of sneakers, handbags, watches, trading cards, memorabilia and fine art. Items are selected based on rarity, provenance, condition, desirability and cultural significance. Sellers are selected for outstanding sales history and reputation.
How does Monaco Market ensure the authenticity of the items?
Monaco Market has partnered with industry leading authenticators for each type of collectible to ensure all items are genuine and accurately represented. Authentication partners include PSA and BGS for trading cards and memorabilia, RealAuthentication for handbags and watches, LegitGrails for sneakers, and Mearto for fine art.
How do I make a purchase on Monaco Market?
There are several ways to make a purchase on Monaco Market. You may connect your Metamask and buy with your cryptocurrency, or you may use your participating credit or debit card using our fiat onramping options.
How do I become a seller on Monaco Market?
Collectors of all sizes are encouraged to apply to become potential sellers on Monaco Market, selection is based on reputation, collection and sales history, among other considerations.
What fees are charged by Monaco Market?
Monaco Market charges a 1.5% transaction fee when items are sold on Monaco Market using CollectCoin, all other tokens incur a transaction fee of 3%. A vaulting and storage fee will also be incurred at a rate of 0.005% per day, due when the item has been sold. Additionally, should you want to redeem your NFT, a redemption fee will be incurred. The redemption fees are all logistic related expenses including shipping charges, and any special handling charges. Any other local import duties may apply.
What are the payment methods accepted on Monaco Market?
You may purchase Monaco Market NFTs using accepted cryptocurrency by the sellers, use your credit/debit card with our fiat onramp, or use our cross-chain payment solution (coming soon) to spend a token of your choice.
VAULTING & REDEMPTION
Where does Monaco Market store the collectibles?
While the exact location of our highly secure facilities where we vault the collectibles is not publicly shared, we have partnered with global leading vault and storage partners to protect the valuable collectibles that comprise all Monaco Market NFTs.
Are the items insured in the event of loss or damage?
All items are insured for the full market value at the time the items enter the vault. In the unlikely event of loss or damage, we will reimburse the wallet holder of the NFT for the insured value. Insurance values are periodically updated.
How do I redeem my NFT for the associated collectible?
Redeeming NFTs on Monaco Market is a very simple process. Simply select the “Redeem” option on the NFT you want to redeem in your “My NFT” section. Fill out the Redemption Form including who and where we should send your collectible to, and pay the redemption fee and we will send your item to you.
Can I have my item sent anywhere in the world?
Monaco Market offers redemption to our users globally. Unfortunately, due to current shipping restrictions, we are not able to ship to Russia, North Korea, Venezuela, Iran, Syria, Cuba and the Crimea region of Ukraine.