SECURED TRANSACTION. Toki launches in the Philippines, offering a streamlined transaction for collectors in the country -- from purchasing to payment to delivery. Based on Toki and GMO Research, the Philippine collectibles market is around 40 percent of the population with a market value of USD5 billion. (Photo courtesy of Toki)
MANILA – Toki, the first social commerce platform for collectibles, has seen the Philippines as a lucrative market as approximately 40 percent of its population are collectors.
In a statement Thursday, Toki said it targets to tap the USD5 billion collectibles market in the Philippines.
Toki is the first social commerce platform for collectibles, which offers streamlined and fully secured transactions for the growing collectibles market in the country.
“According to a study conducted by Toki and GMO Research, the Philippine market is currently valued at USD5B. Despite this sizable number, buyers and sellers still find themselves navigating an unsecured and convoluted trading journey, without a dedicated marketplace to seamlessly facilitate transactions. To date, collectors traverse the buying process - from discovery to purchase - in a fragmented manner,” Toki said.
Toki co-founder Zoe Ocampo said collectors’ experience in searching and purchasing collectibles has not been ideal for a long time.
“Usually, we start the journey with social networks or messaging applications, and from there, one has to sift through at least 10 different sellers, unsure of the credibility and authenticity of their products. It has been consistently tedious and filled with unnecessary friction,” Ocampo mentioned.
Aside from being a digital marketplace for buyers, Toki also tailored its service to sellers by offering a livestream auction, offering a real-time engagement that enhances the collectibles trading experience.
The e-commerce platform also partners with GCash and NinjaVan for secured payment and logistics.
"Toki aims to address this by ensuring that its marketplace only hosts sellers who have successfully passed our selection and scoring system and that all products are checked by the Toki verification team, so there would be no question whether the product you’re getting is genuine and from a reliable source,” Toki co-founder Jules Jurado added.
The social commerce platform launches in the Philippines featuring four categories for collectors, which include Sneakers, LEGO, NBA cards, and Funko Pops!. (PNA)
