He makes some good points which are totally understandable and the future may very well be digital collectables, but it doesn't mean everyone will go for it because they can literally save their money and watch that clip thousands of times on YouTube for free.
Again, I literally see this as an investment opportunity only. I saw a great comment yesterday and I can't remember if it was here or somewhere else but I'll paraphrase it below.
"As nerdy as it is showing people my card collection, imagine having to rip out your laptop (or phone) to show some a clip that you bought that they can watch anywhere for free, but you paid thousands of dollars for it"
Good on anyone that can profit from it, but it's not a collectors thing.
Don't get me wrong I still love physical cards however;
Anyone can literally find the picture and video highlight of any card as well. It's the same for an art piece. Why do people pay millions of dollars for art that they can just see online? It's not 100% about the clip that can be watched online, it's that there is an asset that has been created that has ownership properties/scarcity/demand/supply/economic incentive/ which in turn appeals to an individual on many levels. People don't even need to show their collections to achieve self-actualization.
I understand the preference for physical over digital but the whole world is moving 'online' at a rapid rate. Each generation spends a higher % of their life online than the previous. As it relates to this, you have to remember most kids are already collecting in video games (Fortnite/FIFA UT). This is second nature to them and easier for them to get involved in than physical cards.
There are very few markets that are pure "collectors" - sure collectors may provide the base but there are several other players; speculators/investors, service providers, liquidity providers etc. The physical card market each day becomes less of a collectors market. The prices you see now aren't as a result of collectors rather institutional money and speculators. As for Topshot, it is heavily skewed towards speculators now, however I have seen a number of people that have changed their mindset from flipping to collecting.
I know the whole digital over physical is difficult to reconcile, but it's already playing it in bitcoin vs precious metals. I would estimate the amount of people that would prefer equivalent value in bitcoin over precious metals increases year on year and the younger the demographic the more it skews bitcoin and vice versa.
I'm not saying either physical or digital is superior, I like both a lot.
Everything you said is spot on mate, I don't disagree that it's heading that way and by no means am I having a dig at anyone for being interested in it at all.
I totally understand what it's all about, but I see nothing in it for me personally.
However, to answer this question from the perspective of a collector; "Why do people pay millions of dollars for art that they can just see online?" It's because they physically have something to display in their homes rather than look at it on a computer screen. Just like cards, you have them in your hand and you can display them at home or show your friends in the community. I don't know anybody that would pay for a painting that they now own online.
The conversation could go on for hours, but in my opinion, this is not desirable to a true collector of collectables and is purely to make money.
I try to see it more through the eyes of a 23 year old. I honestly think this is a shift. I think cards will be just fine but it is way easier for this generation to relate to Digital NFTs.
Even a friend of mine that loves basketball scoffed at the idea of basketball cards. (Pokemon kid).
This next generation will see the up arrows and be all in. Add in the nerdy tech guys.
Hell I want that Ginobili moment dunking on Ray Allen in the Finals.
Could you imagine if you could own Kawhi's shot vs Philly etc
Although some of these prices are whack.
The annoying thing at the moment is that talk about the lower serial number is better or worth more? no way
jersey number I can get, first and last serial number I wouldn’t pay premium but sure, I can understand other people might, but 17/10000 is worth more than 3200/10000 moment - nahhhhhhh
I used to put 250K for pick up when selling on ebay. Just in case some filthy rich person with a sense of humour wanted to meet me to pick up their $25 card. Unfortunately I had to stop doing it because of the amount of people who would message me assuming I had made a mistake with the pick up price. And could they pick their item up for free? haha.No idea.
My 7517/10000 is on sale for $7517
my 23446/35000 is on sale for $23,446
Just need some cashed up idiot and i am set