Frequently Asked Questions
What is RCRDSHP?
RCRDSHP (pronounced “record shop”) is a curated digital collectibles platform, built by and for the electronic music industry, and validated by technologies like the blockchain and non-fungible tokens. Most other platforms are based on auctions or fixed-price sales, but RCRDSHP surprises and delights by curating and dropping digital ‘packs’ of amazing content. RCRDSHP packs contain music tracks, mixtapes, video clips, static visuals, and many more multimedia collectible goodies from the top brands in the industry.
What is the next digital music revolution?
RCRDSHP is building robust new solutions designed to address and improve existing music distribution systems’ many weaknesses and perverse incentives and realign them in favor of working musicians and passionate fans by cleverly applying game mechanics and new blockchain technologies. As our first step, we are establishing a global platform for trading music and music-related digital collectibles.
What will RCRDSHP collectible transactions mean for Mother Earth?
RCRDSHP cares deeply about the environment. We approach environmental concerns with the same creativity and innovation that’s inspired RCRDSHP itself, in collaboration with artists, labels, events, and other partners. We have selected best-in-class technology to create our collectibles. The minting process we use relies on highly energy efficient proof of stake technology, which has a small fraction of the environmental impact of proof of work blockchains. We are excited to work with the electronic music community to create innovative ways of raising awareness and taking action to address climate change and other environmental issues. We are optimistic that together, we can imagine and launch initiatives, packs, and projects to address the challenges that matter to our community.
How can I collect my proceeds from the sale of my collectible(s) that I sold to another user?
Withdrawal is not here yet, but it’s coming. We are working hard to make it happen in stages, and as soon as possible. The reality for a platform like ours is that there are real barriers to allowing quick and easy withdrawals from the platform. For starters, making it easy to move money in and out is a recipe for bad actors to use the site as a money laundering vehicle. Which is the reason that the government has regulations about KYC/AML and stuff like that. The other challenge is that if someone buys with a credit card, their transaction is not "finalized" (in the blockchain sense, so-to-speak) for weeks or longer. If a bad actor uses stolen credit cards and we allow them to sell their illegally obtained collectibles and withdraw funds quickly, you can see why that’s a big problem. But we're on it...
But can I use my balance to buy on the marketplace?
Yes! You can convert your balance to RCRDSHP in-store Credit.
The RCRDSHP In-Store Credit feature lets you transfer some or all of your account balance to In-Store credit that can be used to pay for packs or collectibles when checking out on Shopify. Just enter one or more In-Store Credit codes in the field labeled "RCRDSHP In-Store Credit Code"
Can RCRDSHP staff buy and sell packs?
The RCRDSHP team has a policy that states we may NOT buy and sell packs on the secondary market. We feel that integrity is a huge priority and we do not want to break trust from our incredible community!
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