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Wacky idea for a new PCGS product. Virtual collection.

jmlanzafjmlanzaf Posts: 32,003 ✭✭✭✭✭

I was looking at all the TVs people posted along with their own photos of their collections. And i wonder if there is a way to monetize a virtual collection.

Just spitballing but something like:

  1. pcgs creates a website for a virtual collection.
  2. Collectors add TVs (NFT?) of coins they like to their virtual album.
  3. Inclusion of TV NFTs in the database is optional by the coin owners and limited
  4. Virtual collectors buy the NFT with the purchase price shared between the actual coin owner and PCGS (the TV owner).
  5. NFTs can be bought and sold between collectors with a minimal transaction fee shared again between PCGS and coin owner and PCGS.

Done right, I can imagine collectors showing off their digital collections via a phone app. It also allows physical coin owners to monetize their collections. It allows PCGS to monetize their TVs. And it creates a different entry point to the hobby.

Thoughts?

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Comments

  • Options
    jmlanzafjmlanzaf Posts: 32,003 ✭✭✭✭✭

    @291fifth said:
    The amount I would pay for any NFT: ZERO!.

    I will pretend to be shocked.

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    silverpopsilverpop Posts: 6,599 ✭✭✭✭✭

    sorry not for me just doesn't seem interesting

    Coins for sale at link below
    https://photos.app.goo.gl/TyJbuBJf37WZ2KT19

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    mr1931Smr1931S Posts: 5,975 ✭✭✭✭✭

    @ricko said:
    NFT's are not appealing to me..... You pay money and own nothing. I could assemble my own virtual collection if that were of interest. Cheers, RickO

    ^this^

    Great spirits have always encountered violent opposition from mediocre minds.-Albert Einstein

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    messydeskmessydesk Posts: 19,704 ✭✭✭✭✭
    edited January 22, 2023 8:25AM

    From "History in your hands" to "History on the blockchain." Pass.

  • Options
    jmlanzafjmlanzaf Posts: 32,003 ✭✭✭✭✭

    I know you folks aren't exactly into it, although you show off TVs like photos of the grandkids. But it's really more like scrapbooks or digital RPGs.

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    jesbrokenjesbroken Posts: 9,319 ✭✭✭✭✭

    I think it would be a good idea for a collector to find a specific coin that would be affordable to them and allow the owner to negotiate a purchase with them, BUT I would believe that it would just resort to placing top coins unaffordable to the person who has the virtual collection. More like dream football which is for fun and never has any ownership. JMO
    Jim


    When a man who is honestly mistaken hears the truth, he will either quit being mistaken or cease to be honest....Abraham Lincoln

    Patriotism is supporting your country all the time, and your government when it deserves it.....Mark Twain
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    jesbrokenjesbroken Posts: 9,319 ✭✭✭✭✭

    How about if PCGS and/or NGC just had a forum, not the BST, where members listed TV's/photos of coins in holders that they would like to purchase and if the owner sees this then can contact the member. There would not monetary mention, just contact requests. Kind of the same without the digital effort.
    Jim


    When a man who is honestly mistaken hears the truth, he will either quit being mistaken or cease to be honest....Abraham Lincoln

    Patriotism is supporting your country all the time, and your government when it deserves it.....Mark Twain
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    Cougar1978Cougar1978 Posts: 7,642 ✭✭✭✭✭

    Zero interest.

    It’s not something I would spend money or time on.

    So Cali Area - Coins & Currency
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    ms71ms71 Posts: 1,463 ✭✭✭✭✭

    No interest to me, but I wouldn't be surprised if it were to succeed.

    Successful BST transactions: EagleEye, Christos, Proofmorgan,
    Coinlearner, Ahrensdad, Nolawyer, RG, coinlieutenant, Yorkshireman, lordmarcovan, Soldi, masscrew, JimTyler, Relaxn, jclovescoins

    Now listen boy, I'm tryin' to teach you sumthin' . . . . that ain't an optical illusion, it only looks like an optical illusion.

    My mind reader refuses to charge me....
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    FrankHFrankH Posts: 780 ✭✭✭✭✭

    Okey dokey.

    Done ! :D

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    coinbufcoinbuf Posts: 10,771 ✭✭✭✭✭

    Wrong audience, this will appeal to the younger generation who have less interest in physical ownership of "things". As the coin owner I can see the monetary benefit, but I personally would have no interest in being the buyer of this or any NFT.

    My Lincoln Registry
    My Collection of Old Holders

    Never a slave to one plastic brand will I ever be.
  • Options
    DCWDCW Posts: 6,977 ✭✭✭✭✭

    I think the NFT stupidity has already had its time in the Sun.
    The whole thing is absurd.

    Dead Cat Waltz Exonumia
    "Coin collecting for outcasts..."

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    DCWDCW Posts: 6,977 ✭✭✭✭✭

    @TomB said:
    Or, just save the TV images of the coins you like and share them anyway...

    Yeah but they won't be NFTs! :D

    Dead Cat Waltz Exonumia
    "Coin collecting for outcasts..."

  • Options
    bearcavebearcave Posts: 3,993 ✭✭✭✭✭

    @tincup (how times have changed)
    AMEN!!

    Ken
  • Options
    ctf_error_coinsctf_error_coins Posts: 15,433 ✭✭✭✭✭

    NFT's are soooo 2022

  • Options
    NysotoNysoto Posts: 3,771 ✭✭✭✭✭

    The Registry is the way to virtually share collections with TV's. I don't believe non-physical possession of coins from NFT's will work, but some could make money from this in the short term before it fizzles.

    Robert Scot: Engraving Liberty - biography of US Mint's first chief engraver
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    ashelandasheland Posts: 22,694 ✭✭✭✭✭
  • Options
    Namvet69Namvet69 Posts: 8,676 ✭✭✭✭✭

    I think show and tell has been working just fine here, thank you very much.

    BST: endeavor1967, synchr, kliao, Outhaul, Donttellthewife, U1Chicago, ajaan, mCarney1173, SurfinHi, MWallace, Sandman70gt, mustanggt, Pittstate03, Lazybones, Walkerguy21D, coinandcurrency242 , thebigeng, Collectorcoins, JimTyler, USMarine6, Elkevvo, Coll3ctor, Yorkshireman, CUKevin, ranshdow, CoinHunter4, bennybravo, Centsearcher, braddick, Windycity, ZoidMeister, mirabela, JJM, RichURich, Bullsitter, jmski52, LukeMarshall

  • Options
    jesbrokenjesbroken Posts: 9,319 ✭✭✭✭✭

    @ErrorsOnCoins said:
    Just hire this guy to manage it ...

    Or this girl, Caroline Ellison.
    Jim


    When a man who is honestly mistaken hears the truth, he will either quit being mistaken or cease to be honest....Abraham Lincoln

    Patriotism is supporting your country all the time, and your government when it deserves it.....Mark Twain
  • Options
    DeplorableDanDeplorableDan Posts: 2,562 ✭✭✭✭✭

    I’m not particularly interested in NFTs, but the idea of a “virtual collection” is alive and well. It’s what a lot of us younger folk or tech savvy older folk use instagram for. You take pictures of all your coins, TVs, videos, etc. and showcase them on your profile. It’s a neat way to display your collection outside of the registry, and it doesn’t matter what holder the coin resides in. If anyone on here uses it, feel free to follow!

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    ZoinsZoins Posts: 33,910 ✭✭✭✭✭
    edited January 22, 2023 1:21PM

    Who says they haven't been?

    This job opening has been closed. Do we know if this role was filled and, if so, who is leading this?

    https://startup.jobs/principal-software-engineer-nfts-collectors-universe-3030514

    COLLECTORS UNIVERSE IS HIRING A
    Principal Software Engineer, NFTs
    [...]
    We’re looking for a Principal Software Engineer to lead our engineering efforts on a stealth project team focused on NFTs and crypto. This leader will serve as the Technical founder and leader of this new initiative and will come in at the ground floor, partnering hand-in-hand with the Product founder. We are looking for someone who is passionate about building Web3, and has proven experience leading NFT projects and deploying crypto products. You’ll use these skills to play a lead role in shaping the future of Collectors, and will be at the forefront of innovation and emerging technologies. We seek a Principal Engineer who is ambitious, quick to learn, comfortable with ambiguity and outcomes driven. We value people who can quickly obtain a deep technical understanding of new domains, and enjoy working highly independently to solve our most important problems.
    [...]
    What You’ll Do:

    • Serve as a technical co-founder of a new NFT initiative, developing technical strategy and its architecture
    • Be able to serve as a full-stack blockchain developer (solidity, javascript)
    • Build frontend and backend software in Web3 environments (e.g. ether.js, web3.js, Foundry, React, Node.js)
    • Collaboratively partner with product, data science, UX, and other teams within the organization to identify the highest impact technology opportunities to impact the product and user experience.
    • Partner with other leaders from architecture, engineering management, and product management on project requirements.
    • Help to set a high-bar on code quality by writing thorough tests, conducting code reviews, and creating robust documentation.
    • Mentor junior engineers as they develop their software development skills.
    • Stay on the bleeding edge of the latest NFT/Blockchain trends, best practices, and technologies
  • Options
    rickoricko Posts: 98,724 ✭✭✭✭✭

    @airplanenut... Of course.... How could I have overlooked that... :D Cheers, RickO

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    Mr Lindy Mr Lindy Posts: 984 ✭✭✭✭✭

    PCGS captures pics of the coins submitted.

    I wonder if they own copyright to your coins' images ?

    @Zoins said:
    Who says they haven't been?

    This job opening has been closed. Do we know if this role was filled and, if so, who is leading this?

    https://startup.jobs/principal-software-engineer-nfts-collectors-universe-3030514

    COLLECTORS UNIVERSE IS HIRING A
    Principal Software Engineer, NFTs
    [...]
    We’re looking for a Principal Software Engineer to lead our engineering efforts on a stealth project team focused on NFTs and crypto. This leader will serve as the Technical founder and leader of this new initiative and will come in at the ground floor, partnering hand-in-hand with the Product founder. We are looking for someone who is passionate about building Web3, and has proven experience leading NFT projects and deploying crypto products. You’ll use these skills to play a lead role in shaping the future of Collectors, and will be at the forefront of innovation and emerging technologies. We seek a Principal Engineer who is ambitious, quick to learn, comfortable with ambiguity and outcomes driven. We value people who can quickly obtain a deep technical understanding of new domains, and enjoy working highly independently to solve our most important problems.
    [...]
    What You’ll Do:

    • Serve as a technical co-founder of a new NFT initiative, developing technical strategy and its architecture
    • Be able to serve as a full-stack blockchain developer (solidity, javascript)
    • Build frontend and backend software in Web3 environments (e.g. ether.js, web3.js, Foundry, React, Node.js)
    • Collaboratively partner with product, data science, UX, and other teams within the organization to identify the highest impact technology opportunities to impact the product and user experience.
    • Partner with other leaders from architecture, engineering management, and product management on project requirements.
    • Help to set a high-bar on code quality by writing thorough tests, conducting code reviews, and creating robust documentation.
    • Mentor junior engineers as they develop their software development skills.
    • Stay on the bleeding edge of the latest NFT/Blockchain trends, best practices, and technologies
  • Options
    MFeldMFeld Posts: 12,056 ✭✭✭✭✭
    edited January 22, 2023 3:12PM

    @Namvet69 said:
    I think show and tell has been working just fine here, thank you very much.

    That’s a rather narrow view, as there’s a lot more to the coin universe than this forum.

    Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.

  • Options
    ZoinsZoins Posts: 33,910 ✭✭✭✭✭
    edited January 22, 2023 3:18PM

    @LindyS said:
    PCGS captures pics of the coins submitted.

    I wonder if they own copyright to your coins' images ?

    @Zoins said:
    Who says they haven't been?

    This job opening has been closed. Do we know if this role was filled and, if so, who is leading this?

    https://startup.jobs/principal-software-engineer-nfts-collectors-universe-3030514

    COLLECTORS UNIVERSE IS HIRING A
    Principal Software Engineer, NFTs
    [...]
    We’re looking for a Principal Software Engineer to lead our engineering efforts on a stealth project team focused on NFTs and crypto. This leader will serve as the Technical founder and leader of this new initiative and will come in at the ground floor, partnering hand-in-hand with the Product founder. We are looking for someone who is passionate about building Web3, and has proven experience leading NFT projects and deploying crypto products. You’ll use these skills to play a lead role in shaping the future of Collectors, and will be at the forefront of innovation and emerging technologies. We seek a Principal Engineer who is ambitious, quick to learn, comfortable with ambiguity and outcomes driven. We value people who can quickly obtain a deep technical understanding of new domains, and enjoy working highly independently to solve our most important problems.
    [...]
    What You’ll Do:

    • Serve as a technical co-founder of a new NFT initiative, developing technical strategy and its architecture
    • Be able to serve as a full-stack blockchain developer (solidity, javascript)
    • Build frontend and backend software in Web3 environments (e.g. ether.js, web3.js, Foundry, React, Node.js)
    • Collaboratively partner with product, data science, UX, and other teams within the organization to identify the highest impact technology opportunities to impact the product and user experience.
    • Partner with other leaders from architecture, engineering management, and product management on project requirements.
    • Help to set a high-bar on code quality by writing thorough tests, conducting code reviews, and creating robust documentation.
    • Mentor junior engineers as they develop their software development skills.
    • Stay on the bleeding edge of the latest NFT/Blockchain trends, best practices, and technologies

    PCGS owns the copyright for the TrueViews as they are they photographer, as is the case with most photographers.

  • Options
    ShaunBC5ShaunBC5 Posts: 1,636 ✭✭✭✭✭

    The coin NFT thing isn’t for me, but that’s sort of what sports cards have always felt like to me. You limit the number of desirable players and overproduce the other guys to make them less valuable. I loved card collecting when I was a kid. Maybe my kid would like digital coin collecting in the future. Common Mercs are 1 cent but the 16D or 42/1 might run you $20…could be enjoyable to put a set like that together in the metaverse or wherever if there was a community to share and enjoy it with.

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    david3142david3142 Posts: 3,423 ✭✭✭✭✭
    edited January 22, 2023 3:53PM

    I think this is a really cool idea. PCGS could create a virtual registry and digital album competition. If they gave some real prizes I think people would pay money to have the best images. It’s a lot cheaper than owning a world class set. I spend time curating my digital albums and I am conscious of which of my coins look better in photos since I often interact with them more that way (even though I own them).

  • Options
    ZoinsZoins Posts: 33,910 ✭✭✭✭✭

    @david3142 said:
    I think this is a really cool idea. PCGS could create a virtual registry and digital album competition. If they gave some real prizes I think people would pay money to have the best images. It’s a lot cheaper than owning a world class set. I spend time curating my digital albums and I am conscious of which of my coins look better in photos since I often interact with them more that way (even though I own them).

    I agree that the way to do it would be to have prizes. A virtual registry could be like Fantasy Football leagues.

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    tincuptincup Posts: 4,785 ✭✭✭✭✭

    " I agree that the way to do it would be to have prizes. A virtual registry could be like Fantasy Football leagues. "

    You know... perhaps there IS some merit to consider an innovation like this. Some interesting changes, ideas taking place (10 point grading scale, VaultBox, etc.). Bring in more future collectors, a new direction.... why not? But not for me.... I'm content with my Scrooge McDuck vault filled with gold coins... (yeah right)!

    ----- kj
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    ChevyroseChevyrose Posts: 225 ✭✭✭

    Well this is awkward

    I like things that exist that don’t involve things like phones, internet, television, ect.

    Like books, cars, coins, nature, tangible art

    NTFs are preposterously stupid

    In my opinion this is a terrible idea

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    CoinscratchCoinscratch Posts: 7,940 ✭✭✭✭✭
    edited January 22, 2023 4:38PM

    @Chevyrose said:
    Well this is awkward

    I like things that exist that don’t involve things like phones, internet, television, ect.

    Like books, cars, coins, nature, tangible art

    NTFs are preposterously stupid

    In my opinion this is a terrible idea

    Yet optimum while you're on vacation :D

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    ctf_error_coinsctf_error_coins Posts: 15,433 ✭✭✭✭✭

    @Chevyrose said:
    Well this is awkward

    I like things that exist that don’t involve things like phones, internet, television, ect.

    So you are missing ...

    Communication, the information of the whole world and a gigantic marketplace, and visual entertainment of whatever interests you.

    PS, You are on the internets

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    ChevyroseChevyrose Posts: 225 ✭✭✭

    @ErrorsOnCoins said:

    @Chevyrose said:
    Well this is awkward

    I like things that exist that don’t involve things like phones, internet, television, ect.

    So you are missing ...

    Communication, the information of the whole world and a gigantic marketplace, and visual entertainment of whatever interests you.

    PS, You are on the internets

    Not sure of your point exactly

    I suppose I should use a spark notes version of my response

    “Man thinks nft of coin tru-views is very stupid”

    “Man is forced to use certain technologies even though they are not what he prefers”

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    david3142david3142 Posts: 3,423 ✭✭✭✭✭
    edited January 22, 2023 5:36PM

    You don’t have to like (or use) NFTs in particular but obviously they would need to limit how many of each image would be available and keep track of any trades.

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    MFeldMFeld Posts: 12,056 ✭✭✭✭✭

    @Chevyrose said:
    Well this is awkward

    I like things that exist that don’t involve things like phones, internet, television, ect.

    Like books, cars, coins, nature, tangible art

    NTFs are preposterously stupid

    In my opinion this is a terrible idea

    What you like or dislike doesn’t doesn’t necessarily have anything to do with whether something is “preposterously stupid”.

    Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.

  • Options
    ChevyroseChevyrose Posts: 225 ✭✭✭

    @MFeld said:

    @Chevyrose said:
    Well this is awkward

    I like things that exist that don’t involve things like phones, internet, television, ect.

    Like books, cars, coins, nature, tangible art

    NTFs are preposterously stupid

    In my opinion this is a terrible idea

    What you like or dislike doesn’t doesn’t necessarily have anything to do with whether something is “preposterously stupid”.

    Really? Meditate of what you just said for a little while

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    JoeLewisJoeLewis Posts: 1,906 ✭✭✭✭

    @Chevyrose said:
    Well this is awkward

    I like things that exist that don’t involve things like phones, internet, television, ect.

    Like books, cars, coins, nature, tangible art

    NTFs are preposterously stupid

    In my opinion this is a terrible idea

    Will you explain what you meant by “Well this is awkward”?

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    ChevyroseChevyrose Posts: 225 ✭✭✭

    @JoeLewis said:

    @Chevyrose said:
    Well this is awkward

    I like things that exist that don’t involve things like phones, internet, television, ect.

    Like books, cars, coins, nature, tangible art

    NTFs are preposterously stupid

    In my opinion this is a terrible idea

    Will you explain what you meant by “Well this is awkward”?

    This whole idea and thread

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    ZoinsZoins Posts: 33,910 ✭✭✭✭✭

    The part that's interesting to me is that PCGS said they have a stealth project team focused on NFTs and crypto :)

    Can't wait to see what it is!

  • Options
    MFeldMFeld Posts: 12,056 ✭✭✭✭✭

    @Chevyrose said:

    @MFeld said:

    @Chevyrose said:
    Well this is awkward

    I like things that exist that don’t involve things like phones, internet, television, ect.

    Like books, cars, coins, nature, tangible art

    NTFs are preposterously stupid

    In my opinion this is a terrible idea

    What you like or dislike doesn’t doesn’t necessarily have anything to do with whether something is “preposterously stupid”.

    Really? Meditate of what you just said for a little while

    Thank you - I’ll rephrase it. Something isn’t necessarily “preposterously stupid” just because you don’t like it. In fact, something might be preposterously brilliant😉, even if you don’t like it.

    Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.

  • Options
    ChevyroseChevyrose Posts: 225 ✭✭✭

    @MFeld said:

    @Chevyrose said:

    @MFeld said:

    @Chevyrose said:
    Well this is awkward

    I like things that exist that don’t involve things like phones, internet, television, ect.

    Like books, cars, coins, nature, tangible art

    NTFs are preposterously stupid

    In my opinion this is a terrible idea

    What you like or dislike doesn’t doesn’t necessarily have anything to do with whether something is “preposterously stupid”.

    Really? Meditate of what you just said for a little while

    Thank you - I’ll rephrase it. Something isn’t necessarily “preposterously stupid” just because you don’t like it. In fact, something might be preposterously brilliant😉, even if you don’t like it.

    Opinions man

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    JoeLewisJoeLewis Posts: 1,906 ✭✭✭✭

    @Chevyrose said:

    @JoeLewis said:

    @Chevyrose said:
    Well this is awkward

    I like things that exist that don’t involve things like phones, internet, television, ect.

    Like books, cars, coins, nature, tangible art

    NTFs are preposterously stupid

    In my opinion this is a terrible idea

    Will you explain what you meant by “Well this is awkward”?

    This whole idea and thread

    I still don’t see what is awkward about it. It’s an odd choice of word. I was just curious.

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    messydeskmessydesk Posts: 19,704 ✭✭✭✭✭

    @DCW said:
    I think the NFT stupidity has already had its time in the Sun.
    The whole thing is absurd.

    There is a place for it with stuff like conveying title to something real that can't be replicated. For coins, an NFT could hold fractional ownership in a trophy coin. If today a group of people own shares of such a coin, one person selling their share is likely a complicated process. With an NFT holding someone's share of a coin, it could easily be sold at auction without involving the other shareholders, barring contractual agreement between the shareholders governing how shares are to be sold.

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    ZoinsZoins Posts: 33,910 ✭✭✭✭✭

    @messydesk said:

    @DCW said:
    I think the NFT stupidity has already had its time in the Sun.
    The whole thing is absurd.

    There is a place for it with stuff like conveying title to something real that can't be replicated. For coins, an NFT could hold fractional ownership in a trophy coin. If today a group of people own shares of such a coin, one person selling their share is likely a complicated process. With an NFT holding someone's share of a coin, it could easily be sold at auction without involving the other shareholders, barring contractual agreement between the shareholders governing how shares are to be sold.

    I wonder if NFTs will be as easy to steal as Bitcoin?

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