Wacky idea for a new PCGS product. Virtual collection.
jmlanzaf
Posts: 35,204 ✭✭✭✭✭
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:
- pcgs creates a website for a virtual collection.
- Collectors add TVs (NFT?) of coins they like to their virtual album.
- Inclusion of TV NFTs in the database is optional by the coin owners and limited
- Virtual collectors buy the NFT with the purchase price shared between the actual coin owner and PCGS (the TV owner).
- 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?
1
Comments
The amount I would pay for any NFT: ZERO!.
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
I will pretend to be shocked.
sorry not for me just doesn't seem interesting
https://www.omnicoin.com/collection/colind?page=1&sort=sort&sale=1&country=0
^this^
Great spirits have always encountered violent opposition from mediocre minds.-Albert Einstein
From "History in your hands" to "History on the blockchain." Pass.
Keeper of the VAM Catalog • Professional Coin Imaging • Prime Number Set • World Coins in Early America • British Trade Dollars • Variety Attribution
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.
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
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
Zero interest.
It’s not something I would spend money or time on.
No interest to me, but I wouldn't be surprised if it were to succeed.
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 no optical illusion, it only looks like an optical illusion.
My mind reader refuses to charge me....
Okey dokey.
Done !
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 Collection of Old Holders
Never a slave to one plastic brand will I ever be.
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..."
Or, just save the TV images of the coins you like and share them anyway...
In honor of the memory of Cpl. Michael E. Thompson
Yeah but they won't be NFTs!
Dead Cat Waltz Exonumia
"Coin collecting for outcasts..."
How times have changed.
I remember well, been quite a few years ago on this forum.... a new member, likely a young want to be collector.... posted that he loved coins. But having extremely limited or no funds.... started his collection.... using photos of beautiful, and some famous coins. That was his 'collection'! And he was very happy to do so, had fun searching for the photos, and proud of his collection, which he tried to share here....
Unfortunately, the forum was ruthless with him. He was told that was a stupid waste of time idea, it was ridiculous, probably made him feel rather shameful. Seemed it didn't matter that he liked coins.... or that he had no funds to purchase top dollar coins that many think are the only way to go, etc.
Can't remember his handle.... but he did not post long. Not sure he is still around, incognito... or just said f... this place. Couldn't blame him if he no longer has anything to do with coins. Hope he is still around and doing well!
Point of this post... well, of course we should be supportive of any new collector, regardless of their financial situation, etc.
But... here we are talking about NTF's! Maybe the poster I mentioned was a visionary... just ahead of his time, appreciating 'images' of coins!
How times have changed!
@tincup (how times have changed)
AMEN!!
NFT's are soooo 2022
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.
Just hire this guy to manage it ...
My YouTube Channel
I think show and tell has been working just fine here, thank you very much.
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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
You're missing the point. You may own nothing, but no one else can own that particular nothing.
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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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
@airplanenut... Of course.... How could I have overlooked that...
Cheers, RickO
PCGS captures pics of the coins submitted.
I wonder if they own copyright to your coins' images ?
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.
PCGS owns the copyright for the TrueViews as they are they photographer, as is the case with most photographers.
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.
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.
" 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)!
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
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”
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.
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.
Really? Meditate of what you just said for a little while
Will you explain what you meant by “Well this is awkward”?
US and British coin collector, and creator of The Ultimate Chuck E. Cheese's and Showbiz Pizza Place Token & Ticket Guide
This whole idea and thread
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!
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.
Opinions man
I still don’t see what is awkward about it. It’s an odd choice of word. I was just curious.
US and British coin collector, and creator of The Ultimate Chuck E. Cheese's and Showbiz Pizza Place Token & Ticket Guide
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.
Keeper of the VAM Catalog • Professional Coin Imaging • Prime Number Set • World Coins in Early America • British Trade Dollars • Variety Attribution
I wonder if NFTs will be as easy to steal as Bitcoin?