Digital Assets
Alright can make it safer and easier to buy or sell digital assets
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Alright can make it safer and easier to buy or sell digital assets
Last updated
Was this helpful?
Alright is a better way to buy and sell digital assets like tokens or game items when you need to swap and can't do it atomically.
Beth wants to buy some digital items from Dave. They agree on a price and how they will exchange the virtual items. Beth chooses to escrow her payment through Alright so that she can release the payment only when the items have been transferred.
To keep them both honest, they each put up a security deposit. The payment and security deposits are sent to Alright's smart contract, and when the details match, Alright locks them in.
Now Dave can confidently give the items to Beth because she is committed to the deal through her collateral, so he knows he will get paid.
Dave and Beth arrange to transfer the items, and Beth subsequently agrees to release the payment funds. As soon as she does so, her payment is forwarded to Dave and they both receive their collateral back.