Yesterday, during the global celebration of popular culture, PopCon ME, Speedy Comics ME and AGS made a groundbreaking announcement regarding their collaborative venture, AGSpeedy Technologies. This joint endeavor introduces an innovative approach to collectibles authentication, employing artificial intelligence (AI) and blockchain technology for immutable verification on Sui, a layer 1 blockchain and smart contract platform.
The Genesis of AGSpeedy Technologies
AGSpeedy Technologies is the brainchild of AGS, an AI-driven card grading system specializing in authentication and grading services for physical collectibles, ranging from sports trading cards to popular trading card games like Pokemon and Magic The Gathering. Partnering with Speedy Comics ME, the leading destination for vintage comics and collectibles in the Middle East, AGSpeedy Technologies aims to reshape the landscape of collectibles authentication.
Addressing Challenges in the NFT Boom
In the midst of the NFT boom in 2021 and 2022, collectibles transitioned into a digital realm, allowing for easy tracking of provenance and ownership. However, traditional collectors faced challenges navigating the new technology, finding the experience unwieldy, expensive, and susceptible to scams.
AGSpeedy’s Authentication System
Through this collaboration, AGSpeedy’s system employs AI to scan physical collectibles, verifying and grading each item. The result is an authenticity certificate, complete with the item’s grade, which is then uploaded to Sui. This certificate acts as an immutable digital twin of the collectible, facilitating trade or sale. Sui’s native feature, zkLogin, enables users to create accounts seamlessly, abstracting away from the complexities of private key management.
Simplifying Web3 Onboarding
Alex Aleksandrovski, co-founder of AGSpeedy Technologies, emphasized the significant hurdle of onboarding users to web3 in the realm of digital collectibles. Sui’s integration allows for easy creation of web3 wallets using web2 logins, offering a user-friendly solution to a previously challenging process.
Transforming the Collectibles Industry
Rashed Mohammed Zubair Al Farooq, CEO of Speedy Comics Group and CEO of Pop Con ME, highlighted the transformative impact of AGSpeedy’s collaboration on the collectibles industry. By recording gradings on Sui, a tamper-proof and immutable record of an item’s quality and condition is established, fostering trust among buyers and sellers. This increased confidence is anticipated to elevate market activity, providing collectors with a secure secondary marketplace for trading and liquidating assets.
Blockchain’s Perfect Use Case for Collectible Authentication
Evan Cheng, CEO of Mysten Labs and Original Contributor to Sui, affirmed that collectible authentication represents the ideal use case for blockchain technology. The combination of AI-driven grading and blockchain-based verification in the MENA region has the potential to reduce fraud while introducing fans worldwide to web3-powered technology, aligning with Sui’s mission to create real-world solutions for genuine challenges.
In conclusion, AGSpeedy Technologies emerges as a pivotal force in reshaping how collectibles are authenticated and traded. Through the integration of AI and blockchain on the Sui platform, the collaboration between AGS and Speedy Comics ME is poised to bring about a paradigm shift in the world of collectibles, enhancing user confidence and market liquidity. This technological advancement is not only unique to the region but also represents a promising beginning in the evolution of the collectibles industry.