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Blockchain technology has quickly become a buzzword across industries and in sports card collecting in particular. This revolutionary tech provides collectors with a secure platform on which they can buy, sell, trade, and transact their assets – we will explore its place within this sector in this article.

What Is Blockchain Technology?

Blockchain is a decentralized distributed ledger that records transactions across a network of computers in an incorruptible, permanent record that cannot be altered without authorization from multiple nodes in its peer-to-peer network. Each transaction in the blockchain is verified by multiple nodes within it ensuring no single entity controls this ledger and all participants can gain access to all necessary information without intermediaries being necessary for sharing of records or verification processes.

One of the hallmarks of blockchain technology is its capacity for digital asset storage and transfer without needing a central authority – something which has made it ideal for many industries, including sports card collecting.

How Does Blockchain Technology Affect Sports Card Collecting?

Traditional sports card collecting relies on third-party intermediaries like auction houses, dealers, and grading companies for authentication and valuation of cards; these intermediaries may prove both costly and time-consuming for each transaction to complete successfully.

Blockchain technology eliminates intermediaries by creating a transparent, secure, and tamper-proof platform for collectors to trade cards without intermediaries. Each card created on a blockchain contains all pertinent details pertaining to the player, year, brand name, and condition information as well as a digital representation of each card that contains this digital data.

Once added to the blockchain, cards become unique assets with verifiable histories that can be purchased, sold, and traded via our platform. Collectors can view every detail regarding an asset including previous owners, sale price, and any relevant details; this ensures its value remains protected and can be verified by anyone using our service.

Benefits of Blockchain Technology in Sports Card Collecting

Increased Security
One of the primary advantages of blockchain technology in sports card collecting is increased security. Traditional methods involve trading cards that are vulnerable to fraud or counterfeiting that is difficult to detect; with blockchain, every transaction is recorded on its blockchain database making any attempts at altering or manipulating data impossible.

Blockchain technology has also simplified transactions for collectors looking to purchase or sell cards faster and easier. Where before they had to rely on intermediaries to authenticate and value them – often taking several weeks if not months for approval – now, with blockchain tech collectors can quickly verify authenticity and value with real-time verification, making transactions quicker overall.

Increased Transparency
Blockchain technology offers greater transparency for all participants involved in the sports card collecting industry. Every transaction is recorded on the blockchain and every participant can view all its details relating to any given card; thus ensuring no unwelcome surprises exist and everyone has equal access to the same information.

Blockchain Technology Offers Better Asset Management
Blockchain technology has revolutionized asset management for sports card collectors. While traditionally collectors had to manually keep track of their cards – often time-consuming and error-prone – with traditional methods. Now thanks to blockchain tech collectors can view complete histories for each card from purchase through ownership history with just one glance!

Blockchain Technology Can Reduce Collector Costs
Blockchain technology offers collectors an effective solution to lower collector costs by cutting out intermediary fees such as auction houses, dealers, and grading services – this could result in significant cost savings while making sports card collecting accessible to a broader audience.

Challenges and Limits of Blockchain in Sports Card Collecting

Blockchain technology presents many benefits for sports card collecting enthusiasts.

While its adoption presents several unique obstacles and restrictions, there remain certain hurdles and restrictions which must be surmounted in order to reach full success.

One of the greatest barriers to the implementation of blockchain technology in sports card collecting lies in its relatively low adoption rate by collectors. While blockchain has proven its worth in other sectors, sports card collectors remain tentative about adopting it due to being newcomers to it and thus prefer traditional methods for buying and selling cards instead of adopting blockchain tech.

One barrier to blockchain adoption is its complexity; collectors unfamiliar with it may find it challenging to navigate its platform, verify transactions and oversee assets effectively.

Scalability remains one of the primary challenges presented by blockchain technology for sports card collecting. As more participants join a network, transactions become more frequent resulting in slower transaction times and higher fees that prevent adoption of this solution.

Blockchain technology poses yet another barrier to sports card collecting, particularly as its adoption remains relatively novel and there remains little regulation around its usage. This leaves collectors uncertain and makes compliance challenging when adhering to legal requirements and regulatory specifications.

Blockchain technology holds great promise to transform the sports card collecting industry, with widespread adoption leading it to become the go-to place for buying, selling, and trading sports cards. Despite some hurdles associated with its introduction and usage in this niche field.

Blockchain technology also holds great promise to open new markets for collectors by making trading cards internationally simpler and safer than before. Traditional methods required collectors to navigate complex international shipping and customs regulations that were both time-consuming and costly; with blockchain, collectors can transact cards seamlessly across borders – creating exciting opportunities worldwide!

Blockchain technology could revolutionize the sports card collecting industry by offering collectors an open, secure, transparent, tamper-proof platform to trade their assets safely and transparently. Blockchain offers several benefits related to security, faster transactions, increased transparency, asset management enhancement, and reduced costs compared with existing alternatives; however, its implementation faces numerous limitations, such as its relatively low adoption among collectors as well as the technical skills required for effective usage, scaling or regulation issues.

As blockchain technology progresses and gains wider acceptance, it may soon become the go-to platform for buying, selling, and trading sports cards. Blockchain promises to open new markets worldwide while making sports card collecting more accessible and transparent than ever. Collectors who embrace it stand to reap great benefits in the years ahead.

This article was taken directly from psacard.com, it has not been modified in any way, the original article link is:

https://www.psacard.com/articles/articleview/10617/collectors-holdings-leases-130-000-square-feet-harborside-jersey-city-from-veris-residential/

Begin original article:

Santa Ana, CA & Jersey City, NJ – Collectors Holdings, the parent company of Professional Sports Authenticator (PSA) – the largest authentication and grading company in the world – and Veris Residential, Inc. (NYSE: VRE), owner of Harborside in Jersey City, today announced the signing of a long-term lease for approximately 130,000 square feet of office space at Harborside 3 in Jersey City. The new facility will help expand PSA’s authentication and grading services of trading cards, tickets, autographs and more. The lease comprises the most office space leased in Jersey City by a tenant since September 2020. 

PSA’s Harborside 3 space will serve as a robust, efficient grading operation, helping the company to expand and improve upon its authentication and grading services of trading cards, tickets, autographs and more as quickly as possible. As the collectibles industry continues to enjoy rapidly growing enthusiasm across the globe, this East Coast location, which will include administrative and executive offices, will serve as a complement to the company’s long-standing headquarters in Santa Ana, California.

“We’re incredibly excited about our new space at Harborside and what it means for the evolution of our business,” said Nat Turner, CEO and Executive Chairman of Collectors Holdings. “Beyond the operational capacity benefits, we see this location as a central driver for our recruitment of top-tier product, tech and business talent from the New York metro area. We’re creating an exceptional workplace for the fast-growing collectibles industry as well as a more convenient option for northeast collectors looking to ship, drop-off and pick-up submissions.”

“We are pleased to welcome Collectors Holdings to Harborside 3,” said Mahbod Nia, Chief Executive Officer of Veris Residential. “Collectibles is an emerging industry, and we are thrilled PSA recognized the quality of our buildings, coupled with the unique live, work and play value proposition of the Harborside campus, and elected to locate here.”

Harborside 3, owned by Veris Residential, Inc. (NYSE: VRE), is a 10-story, Class-A high-rise building containing approximately 750,000 rentable square feet of office space. The building is part of the best-in-class, 3.2 million-square-foot Harborside campus composed of desirable office space with captivating views of Manhattan and numerous on-site amenities, including a large atrium with seating and event space, food hall, retail concourse, Whole Foods Market, daycare center, bank, urgent-and-primary care medical office, two parking garages, and 3,000 residential units.

The campus also has outdoor areas, including a pedestrian plaza, a boardwalk along the Hudson River, and, from April through October, Smorgasburg, the largest weekly open-air food market in the United States. Harborside is conveniently located directly adjacent to the Exchange Place PATH station and offers an on-campus NJ Transit Light Rail station, on-campus New York Waterway Ferry terminal, and easy access to NJ Transit’s Hoboken terminal and Newark Airport.

Collectors Holdings will have a select number of staff members at the new location this year and expects its authentication and grading services at the site to be fully operational in 2023. PSA’s existing East Coast office, based in Woodbridge, NJ, will eventually be merged with the Jersey City facility.

“Opening our doors on the East Coast, at a location ideally located to several substantial population centers, will not only expand our operations but also help to significantly boost our daily output and turnaround times,” added PSA President Kevin Lenane. “We believe this development is a tremendous step forward for the collecting community as we continue to reinvest in our business and deliver the growth that’s been asked of PSA.”

Zev Holzman and Christopher Marx of Savills represented Collectors Holdings in the transaction, while CBRE represented Veris Residential.

Holzman, an Executive Managing Director at Savills, stated, “Harborside 3, with its desirable office space and connectivity to New York City, was the ideal opportunity for PSA’s East Coast location. We are thrilled to have been able to bring this complex transaction to finalization, and feel that Harborside campus will offer Collectors’ employees an unmatched office experience with all of the amenities sought by today’s top-tier tenant class.”

About Collectors Holdings

Collectors Holdings is the global leader in authentication and management of collectibles, with offices in Los Angeles, New York, Seattle, Hong Kong, Shanghai, Tokyo and Paris. Collectors provides hobbyists and alternative asset investors with best-in-class products, tools and services that power the collectibles industry. Collectors brands include leading authentication and grading services PSA (trading cards and memorabilia), PCGS (coins and currency), and WATA (video games and pop culture), as well as online collectibles marketplace, Goldin. Visit www.collectorsuniverse.com for more information.

About PSA

PSA is the world’s largest trading card, autograph and memorabilia authentication and grading service. Since 1991, PSA has examined and certified over 40 million collectibles with a combined value of over $1 billion. For more information, visit www.PSAcard.com.

About Veris Residential, Inc.

Veris Residential, Inc. is a forward-thinking, environmentally- and socially-conscious real estate investment trust (REIT) that primarily owns, operates, acquires, and develops holistically-inspired, Class A multifamily properties that meet the sustainability-conscious lifestyle needs of today’s residents while seeking to positively impact the communities it serves and the planet at large. The company is guided by an experienced management team and Board of Directors and is underpinned by leading corporate governance principles, a best-in-class and sustainable approach to operations, and an inclusive culture based on equality and meritocratic empowerment. For additional information on Veris Residential, Inc. and our properties available for lease, please visit www.verisresidential.com.

About Savills Inc.

Savills helps organizations find the right solutions that ensure employee success. Sharply skilled and fiercely dedicated, the firm’s integrated teams of consultants and brokers are experts in better real estate. With services in tenant representation, workforce and incentives strategy, workplace strategy and occupant experience, project management, and capital markets, Savills has elevated the potential of workplaces around the corner, and around the world, for 160 years and counting.

For more information, please visit Savills.us and follow us on LinkedIn, Twitter, Instagram, and Facebook.

Media Contacts

For Collectors Holdings:
Jake Klein
Goldin Solutions
646-660-8644
collectors@goldin.com

For Veris Residential:
Amanda Shpiner/Grace Cartwright
Gasthalter & Co.
212-257-4170
veris-residential@gasthalter.com

For Savills:
Thiago Viana
Savills
T: +1 212 588 3460
M: +1 973 558 1239
tviana@savills.us