Solving Real-World Problems for Collectors
Swinging market forces in collectors’ favor.
No matter what your interests are, there is no shortage of appealing, inspiring, or memorable objects to collect. A baseball card may remind you of a great game that you watched. A bust of a superhero might bring back memories from your childhood and feed your continued fascination. These objects carry emotional value, but they are also bound by market forces, making some of them difficult to obtain while others lose value over time.
This is a problem that has plagued collectors for decades, if not longer. However, new technology is changing this situation. As Quidd transitions to include NFTs , this new tech’s application will protect the interests of Quidd collectors, while bringing about a new experience for anyone who buys and sells digital collectibles.
The Qualities of Digital Assets
By now, you’ve at least heard of non-fungible tokens, or NFTs. They offer a new way to buy and sell assets using blockchain technology, creating permanent records of the way they are traded and immutable ownership of any asset that is represented as a token.
Digital collectibles that are represented as NFTs create property rights — but not necessarily intellectual property rights — for their owners. This is because, like other blockchain-based assets, NFT transactions are recorded in open, digital ledgers, establishing permanent records of ownership. With every sale, these property rights are also transferred.
Digital Collectibles Are More Accessible for Buyers
With NFTs as one of the newest asset classes in the world, there is now also a new market for digital collectible creators, IP holders, and collectors to interact with each other. Information moves faster than ever before, and digital collectibles offer unmatched convenience. Collectors who use Quidd know this — every Quidd collectible is easily portable and can be displayed at any scale, whether on a palm-sized digital photo frame or projected on a wall at a location of your choice.
NFT marketplaces also make it easier than ever to obtain these collectibles. Anyone who takes part in this Web3 advancement is able to unlock a class of previously inaccessible assets.
Aligning Sellers and Collectors’ Interests
A collectible’s market collapses when its value diminishes to near-zero. We’ve seen this happen time and time again.
Just consider the rookie cards of Bryce Harper, the legendary outfielder. There are at least 17 different versions. This is vastly different from the much more limited run of Willie Mays’ rookie card released in the early 1950s — there is only one version.
This massive disparity in the new era is due to card and collectible companies’ desire to ride the hype surrounding an athlete by releasing extra sets after the success of the initial run. While this may lead to short-term or immediate gains for the company that issues the cards, the move diminishes the value of the cards that were already in circulation. New productions can devalue previously released items and may put collectors on an endless hunt for new versions of the same item.
NFTs, on the other hand, provide long-term revenue streams because each sale generates royalties for the original creator or IP holder that released the token. The consequence is these IP holders will have to preserve and uphold the interests of collectors, first and foremost by keeping supply low and preserving value. Take RTFKT and Nike as an example. The initial release of their NFT shoe collection brought in US$10 million in royalties, and they show no sign of adding more to this collection, because doing so would decrease the value of the shoe NFTs and decrease royalties.
Quidd’s Community As Web3 Pioneers
As Quidd builds out more Web3 capabilities, we are creating new opportunities for our community members. Digital collectibles obtained through Quidd will no longer be static and limited to Quidd’s own marketplace. We are preparing to release Mintables — collectibles that can be minted as NFTs — placing Quidd’s community at the forefront of Web3 evolution.
This is a bridge we are offering to connoisseurs of digital collectibles as we facilitate new ways for every collector to interact with their assets. With more people building their collections in virtual space, we will ensure that Quidd’s community will be trailblazers and always have access to some of the most sought-after showpieces.
About Quidd
Quidd is the original digital collectible and NFT marketplace. For over five years, Quidd has facilitated the issuance, sale, and exchange of limited-edition and officially licensed digital collectibles, featuring more than 325 of the world’s most popular brands, including Marvel, Disney, Game of Thrones, Neopets, Rick and Morty, and more.
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