VeVe Gives Digital Collectors a Showroom

One of the most common questions that people might ask digital collectors is why they buy artworks that they can’t display? You can’t put a digital figurine on a mantlepiece and while you can broadcast a digital image to a screen, you’re not likely to keep that screen on all the time. The blockchain has made owning collectibles easy. It hasn’t made displaying them easy.

“I want to show off my stuff,” you may say.

How the showroom works:

You create and customize your own virtual showroom — to show the world your digital collectibles. You just scan your surrounding then drag and tap to drop your digital collectible in AR. After that, you can move, rotate and scale your digital collectibles to make the 1:1 size and then take photos.

Upload to the site and bam!, share this experience with other VeVe collectors around the world. Move through your virtual showrooms on your phone (yes you can have more than one. This is FPS game-style — or bring your showrooms to life in Augmented Reality and physically walk through them, all on your phone or tablet.

I think I’m going to showcase myself with Batman. I’ll say, “this is what happens when an unstoppable force meets an immovable object.” I will personally be “the hero Gotham deserves….” along with Batman, of course.

Batman is all fine and well, but I’ve been thinking about collecting the Harley Quinn Red — but, you know, the black and white is still my fav.

What’s a Secondary Market?

The company is led by David Yu and Daniel Crothers, with Alfred Kahn in charge of licensing.

“Three years ago, when Crypto Kitties came out, we realized that there’s a huge opportunity in this space to create something for collectors in the real world,” Crothers told The Nifty Show. “It would be a really new and exciting way for people to collect their favorite brands and their favorite products.”

Over the last two years, the company has been trying to secure as many licenses and brands as they can. They now have more than 100 brands on their books, including Batman, Harley Quinn, and Ghostbusters.

How is the asset secured?

Every time a purchase is made on the VeVe app, the company burns an equivalent amount of tokens, lowering the supply and boosting the value of the assets. “Ultimately, it’s a deflationary model,” says Crothers. VeVe also provides a buyback mechanism.

Three levels of collectible.

The third level though, will add interactivity, turning the assets into digital toys. At the end of the quarter VeVe plans to release a digital DeLorean. Collectors will be able to tap the doors to open them, then drive the car as though it were remote-controlled.

“What we’re moving into is digital toys so what you see now is literally the tip of the iceberg of what’s coming out this year,” says Crothers.

It’s a whole new world for NFTs and digital collectibles — and it might just mean that no one asks any more why digital collectors buy assets they can’t display.

VeVe Gives Digital Collectors a Showroom was originally published on ReadWrite by Brad Anderson.

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