# Project Highlights
Collect on Fanable targets the $62 billion global physical collectibles market, with over 20,000 SKUs launched, focusing on high-value, emotionally bonded categories such as PSA/BGS graded Pokémon cards, vintage comics, and limited edition figurines. It collaborates with Brinks to provide fully insured vaults, generating BNB Chain NFT certificates upon physical asset storage, supporting 24×7 global trading. In October 2025, it completed a $11.5 million Seed round, backed by a luxurious lineup of investors including Polygon, Ripple, Borderless, and Fanatics. The platform integrates both Stripe and crypto payments, covering iOS/Android/web, achieving a GMV of $1.65 million with a monthly transaction growth rate of 100%. The COLLECT token is used for fee discounts, order incentives, community rewards, and future governance, with only 8.3% circulating in the first three months post-TGE, maintaining a healthy lock-up schedule.
# Project Overview
Collect on Fanable is a physical collectibles trading platform incubated by Ethernal Labs, launched in 2023, with plans to issue a dual-function governance and incentive token COLLECT in Q4 2025. It brings high-value physical collectibles on-chain through a "custody + NFT certificate" model, achieving authenticity verification, fractional circulation, and global 24/7 trading.
Official website: https://collectfoundation.xyz
# Product and Technology
The asset side covers PSA/BGS graded Pokémon, Magic: The Gathering, NBA physical cards, vintage comics, and limited edition figurines, all fully insured by Brinks' professional vaults, with temperature and humidity monitoring plus barcode/RFID dual-sign-in for storage. Upon storage, a BNB Chain NFT is generated, with metadata including grading number, storage photos, and insurance policy number; the NFT can be redeemed for the physical item upon destruction. The trading side employs a dual model of order book and flash exchange, supporting direct purchases with USDT, USD, and Stripe. Sellers can choose immediate sales or auctions, with the platform charging a 5% transaction fee, which can be reduced to 3% for those holding at least 1,000 COLLECT tokens. The payment side integrates both Stripe and crypto, lowering the entry barrier for Web2 users.
# Token Economics
The total supply of COLLECT is fixed at 1 billion tokens, with an initial circulation of 83 million tokens (8.3%). Community rewards and airdrops account for 25%, released linearly over 6 months post-TGE; ecosystem incentives (order placement, staking) account for 20%, released linearly over 48 months; the team holds 15%, with a 1-year cliff followed by 36 months linear release; investors hold 15%, with a 1-year cliff followed by 30 months linear release; the foundation reserves 10%, released linearly over 48 months; liquidity and market-making account for 10%, fully released at TGE; advisors hold 5%, with a 1-year cliff followed by 24 months linear release. Token functions include: fee discounts of up to 40%; mining through order placement, with 50,000 tokens released daily to the top 10% of users by order depth; DAO launch in Q2 2026, with voting covering token listings, fees, and vault expenditures; staking COLLECT can accelerate NFT airdrop points, with an annualized return of 8%–12%.
# Competitive Landscape
The main competitors of Collect on Fanable include Courtyard, Otis, and 4K Protocol. Courtyard collaborates with Polygon and only supports card categories, with relatively limited functionality; Otis adopts an index-based approach and does not offer physical redemptions, leaning towards financialization; 4K Protocol targets general RWA collateral and is still in the cold start phase. Fanable's advantage lies in its focus on high-value collectibles with strong emotional ties, resulting in higher user stickiness; it has built-in exchange traffic, with lower cold start costs compared to pure DeFi protocols; it boasts luxurious capital and IP resources, with Fanatics providing supply chain and channel support. The disadvantage is that physical custody brings additional compliance and cost pressures, and if category expansion is too rapid, the difficulty of authentication and insurance will increase exponentially.
# Team and Investors
Founder Nick Rose Ntertsas also serves as CEO of Ethernal Labs and Ethernity Chain, having been involved in NFTs since 2016, launching licensed NFTs for figures like Messi and O'Neal, and is an early Bitcoin investor. Managing Director Sergio previously served as the category director for collectibles at eBay, with 15 years of supply chain management experience. CPO Alex Naaman left in August 2025, and a new leader has taken over. Investment institutions include Polygon, Ripple, Borderless Capital, Morningstar Ventures, Steel Perlot, and Fanatics (Michael Rubin).
# Roadmap
In Q1 2026, plans include supporting the rating and storage of physical comic books and launching COLLECT staking mining; in Q2, DAO governance will be launched in collaboration with Polygon Labs, introducing L2 settlement, expected to reduce gas fees by 90%; in Q3, the platform will open categories for sports memorabilia (signed jerseys, Olympic badges) and establish EU VAT compliance channels; in Q4, it will support fractional NFTs (ERC-1155) and deploy vault nodes in the Asia-Pacific region (Japan, Hong Kong).
# Risks and Compliance
Regarding regulatory uncertainty, the U.S. SEC has not provided clear guidelines on the "NFT + custody" model, posing a risk of being classified as a security token; in terms of custody risk, although Brinks provides full insurance, extreme events (war, fire) could still lead to the loss of physical items; category dependency is a concern, as approximately 70% of GMV currently comes from Pokémon, and a decline in IP popularity would directly impact platform revenue; concerning unlocking pressure, starting December 2026, the team and investors will begin linear unlocking, adding approximately 4.5 million tokens to circulation each month, necessitating attention to market absorption capacity.
# Conclusion
Collect on Fanable addresses the three major pain points of authenticity, liquidity, and global trading for high-value physical collectibles through its "custody + NFT" model, backed by luxurious capital and IP resources, with rapid data growth. The COLLECT token is strongly tied to the platform's real revenue and user behavior, with low initial circulation and a healthy unlocking schedule. In the short term, attention should be paid to regulatory stances and unlocking pressure; in the medium to long term, if category expansion proceeds smoothly, it is expected to grow into a composite leader akin to "the physical version of Opensea + Chiliz."
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