Here is the nuts and bolts of what all Motoclub members and #SparkNFT collectors need to know.
Motoclub is an online platform that allows its members to buy and display digital NFTs (#SparkNFTs or Sparks) it creates. In very simple terms, it’s very similar to the way people buy traditional collector cards. These are digital assets created using blockchain technology. Every single NFT Motoclub creates is unique and coded.
We do not currently offer the ability to sell or trade Sparks, though we anticipate launching a marketplace for secondary trading and sales of Sparks shortly. Check back with us for updates.
An NFT (Non-Fungible Token) is a unique digital asset created using blockchain technology. The tokens created can be associated with media content, such as still or video images, and are stored in a digital wallet allowing the owner to curate their own collection of digital memorabilia.
A Spark or SparkNFT is Motoclub’s own unique product brand name for the NFTs it produces.
A blockchain is a decentralized, digital ledger or database. Each entry into the ledger creates a single block which cannot be edited, and has its own digital stamp which cannot be altered. Each subsequent entry on the ledger creates a new block which is chained to the first block – hence the name “blockchain”.
In order to be part of Motoclub, you must first sign up to become a member. You may also open an account (wallet) on the platform to enable you to buy SparkNFT drops.
No you do not need to purchase any cryptocurrency to buy Motoclub content.
Motoclub maintains complete control over how many SparkNFTs of any collectible asset are issued – if we say we’ve only produced one, then you can be sure that SparkNFT is the only one of its kind in the world!
Once you’ve bought a Motoclub SparkNFT, either direct, or from one of our special collector auctions, you will be able to enjoy it through your own Motoclub digital wallet where all your purchases and trades will be stored. At some point, Motoclub’s platform may allow for sales and trading of SparkNFTs, though this functionality is not yet available.
When you purchase a SparkNFT from the Motoclub marketplace it resides in your wallet. You can enjoy the SparkNFT in your secure personal wallet accessed only through the Motoclub site and your private account. Motoclub maintains the private keys to this wallet. At some point you may be able to trade or sell the SparkNFTs as well on the Motoclub platform, though this functionality is not yet available.
At the moment SparkNFTs may not be sold or traded. We expect to allow for sales and trading shortly but only on the Motoclub platform. We are building The Motoclub platform into a premier automotive memorabilia trading platform where your #SparkNFTs can be traded exclusively and only with other Motoclub members.
For each SparkNFT sold, we maintain the private keys on behalf of the owner. These keys cryptographically verify control over the SparkNFTs. Each Spark is unique and has its own identification VIN code.
In order to bid on SparkNFTs, you must sign up at the Motoclub.io platform and open your very own bidding account and agree to its terms and conditions. Once this is approved, you are free to place your desired bid price on the NFT. The highest bidder adds the SparkNFT to his or her own collection.
The law states that you must be 18 years of age, or older, to participate in signing up and collecting NFTs.
This will depend on which channel the SparkNFT is purchased through.
Motoclub will sell certain SparkNFTs directly at a fixed price. Other Motoclub SparkNFTs will be produced exclusively for auction, whereby as with any auction, the highest bidder will win the ownership of that particular SparkNFT.
No. We try to make clear, wherever possible, that the real vehicles featured in our SparkNFTs are NOT on sale and are NOT included as part of the winning SparkNFT sale. Only the digital content covered in the description is included and there are no rights, given, or implied to the real-world vehicles either past, present, or in the future.
Motoclub sells its exclusive SparkNFTs through two primary channels: direct, and by auction.
Content will be sold both in bundled packs and individually through either of these channels, but we will always make it clear which channel is being used. Regular content will be sold directly through the Motoclub.io website, with auctions reserved for special one-off SparkNFTs or very limited edition collections.