teckel: Bartering

Bartering is the oldest form of commerce. Non-fungible tokens (NFTs) catapault bartering into the modern era.

teckel utilizes the capabilities of the Ethereum blockchain to enable the trustless barter of NFTs.

The World Economic Forum estimates that by 2030, the tokenized real-world assets market could reach $16.1 trillion, accounting for about 10% of global GDP.†

† https://cointelegraph.com/news/a-brief-history-of-real-world-assets-why-they-matter

A simple example of a teckel barter transaction would be the barter of two pieces of NFT-represented digital artwork, each owned by a different party.

Additionally, as part of the transaction, one or both parties may request an additional amount of ether (ETH) in addition to the other’s respective artwork. We refer to these as “top-up” amounts.  The first person to commit to the barter pays the other party’s requested top-up when the artwork is exchanged.

The NFTs could also represent any real-world assets (RWAs) such as the title documents of vehicles, real estate, etc.