COVID-19 has reshaped our world. Between the record number of new delivery services and the mainstreaming of face masks, life may never go back to the old “normal.” Thanks to the announcement of a handful of viable vaccines, relief from the pandemic is moving closer to reality. But logistical issues and challenges may keep it out of the public’s hands for months. As people continue to self-quarantine, the desire for human interaction remains, perhaps even heightened from the lack of in-person gatherings. Collectible hobbyists who used to attend conventions and tabletop sessions are struggling to remain social and participate in their pastimes.
The post-Covid world is more virtual than ever. This may mean our remote world will persist for the foreseeable future. Our collectibles will likely take a similar spin, moving towards digital.
The intersection of Physical and Digital Collectibles
Interestingly enough, Nintendo has already been a player in this space for years with their “Amiibo” line of collectibles.
“Snake, the Pokemons are behind you, stop looking over there”
Tapping one of these collectible figures to the Nintendo Switch unlocks specific moves, actions, costumes, etc. for the player.
Physical collectibles are not going away in a socially distanced world, in fact, they may become only more popular. Moving this system to the blockchain, where limited availability is a factor, may introduce a new layer of intricacy.
The high-end figures like those found on McFarlane Toys have shown that there is a market for highly detailed models. Pulling from the Amiibo predecessor, a QR code of NFT chip could allow buyers of these figures to give an animated, 3D Terra Virtua figure to the owner. Like their physical counterparts, the virtual models would find a home on the shelves of the FanCave.
Depending on the circulating supply of the QR codes, some could be “Limited Edition,” or “Exclusive” to certain locales. Comic conventions have done this for years, releasing rare figures that are quickly bought up, some of which are sold on eBay for fans unable to physically attend. Conventions have now adapted to social distancing, launching “virtual Comic Cons.” Fans have been known to wait for a livestream panel to start and then scoop up exclusive merchandise which is available only for a few hours.
Furthermore, the hardcore fans would be able to keep their physical models factory-sealed in their original packaging, while the digital models could be displayed, posed, or handled in the digital world. This allows the physical model to retain its value while letting interaction with the digital model to happen freely. Showing off digital collections is easy as inviting someone to a FanCave or TerraDome. The FanCave itself has the ability to be “themed,” depending on the licenses held. Imagine a FanCave themed with your favorite TV show, Movie, or literary series. Perhaps the Godfather and lap cat are more popular, or the Top Gun officers lounge?
A welcome benefit of tying a physical model to a digital one is fraud prevention. Due to their high-value, counterfeits are rampant throughout the collectibles industry; perhaps up to 7% of all goods sold worldwide are fake. But because the digital models can only be redeemed by a genuine QR code, possession of an animated NFT would prove the authenticity of the physical counterpart.
If Terra Virtua can cross-licensing to games, the Amiibo business model is complete. Licensing will be the deciding factor in all of this. Nintendo has the distinct advantage of owning all their IPs, while Terra Virtua has to negotiate with every IP to be included in their system.
Bringing it Home
By creating a bridge between the physical and digital space In this way, the collectibles community can continue to grow and thrive despite the limitations of social distancing. For those fans whose collections are a large part of their social network, this avenue of interaction can allow them to continue to tell stories, show off a new Hellraiser acquisition, and share a common interest with friends. And with the Terra Virtua app, when Covid-19 is eliminated, they will be able to display their NFTs at future gatherings on their mobile device. While the pandemic has placed physical restrictions on millions of people, Terra Virtua is focused on building a community to let fans share what they are most passionate about.
The Daily Chain
*Disclaimer – Terra Virtua is our Media Partner, and this content is made possible with their support. The above article does not represent financial, investment, or trading advice, and we do not recommend the purchase of any cryptocurrency or product without consulting a financial aid. The Daily Chain strongly encourages you to do your own research before making any investment decisions.