Frequently Asked Questions
Why do digital collectables have value?
Same as physical art, four factors contribute towards the value of digital collectables.
The first is the “market-driven value”, which depends on the speculated resale value and popularity of the artist. The second is the “subjective value”. It involves the moral statement or political message that is conveyed by the art — how it makes you feel.
Another value determinant of a digital collectable artwork is the “objective value”. This involves the experience and technical skill by which it was created. Lastly is the “historical value” the piece of digital art has.
What are digital collectables used for?
Same as physical art, four factors contribute towards the value of an NFT art — how expensive it becomes.
The first is the “market-driven value”, which depends on the speculated resale value and popularity of the artist. The second is the “subjective value”. It involves the moral statement or political message that is conveyed by the art — how it makes you feel.
Another value determinant of NFT arts is the “objective value”. This involves the experience and technical skill by which it was created. Lastly is the “historical value” the piece of digital art has.
All these factors contribute to how people value NFTs. “The Merge” which sold at an auction for a whopping USD 91.8 million is the most expensive artwork ever. Each NFT created or minted is unique, and its right can be traced to the owner, and blockchain technology protects this right of ownership.
It was recorded by DappRadar that in the 3rd quarter of 2021, NFTs sales increased to $10.7 billion, from the $1.3 billion in the second quarter of 2021.
Because lately, a lot of crypto enthusiasts believe that to make money with NFTs, you have to have a lot of money to buy a valued NFT, including a gas fee. This is not entirely a lie because, in the business world, you need money to make more money. The higher your capital, the higher your profit.
In the era of decentralized finance, anyone with as little as $20 can buy a coin or a token that can make him 200,000$ in a few months of hodling. People are asking the same questions “can I make so much from so little with NFTs?” Check out our article on “how to make money from a less than $100 NFT”
What are digital collectables?
A digital collectible is a unique or limited-edition copy of a virtual item—usually a artifact or piece of artwork. Digital collectibles use blockchain technology to create non-fungible tokens that allow for distribution and transfers in ownership. In other words, digital collectibles cannot be copied like regular data on a computer which gives them value.
Why Next Decentrum?
At Next Decentrum, we take our time with each project and walk our clients through the process every step of the way. We believe in the democratization of art and culture and are using frontier technology to transform how we experience and interact with art, artifacts, and historical collections while allowing museums to expand their reach, adopt new mediums, and generate revenue from their archives.
Should a museum create a digital collectable?
The answer, of course, is it depends. While we believe that eventually, every museum will create digital collectables out of their artifacts and artwork, it may not be the right time to create them now. However, for museums that want to explore this unique opportunity, then get in touch with us, and we can walk you through the process. It’s a great chance to be ahead of the curve and take the next step in the evolution of education, community and revenue creation.
Why use the Momentable platform?
Momentable is a digital platform created by Next Decentrum to buy, sell, and trade digital collectibles. We believe it’s the next evolution in Web3 technology where you can customize your own experience with a personalized storefront. With Momentable you can take control over your digital collectables and not be beholden to the larger digital collectable platforms.
What's next for digital collectables?
Digital collectibles have enduring value in our increasingly digital world. While it's never easy to predict the future, the growth of digital spaces has led to a new ways to own digital things. Because of this, the new online marketplace has changed how people usually make and claim ownership of digital assets.
For example, with the growth of augmented, virtual reality, and the metaverse, digital collectibles will become even more popular as they can easily be integrated into this technology.
And as digital environments become more normal, digital collectibles will likely increase in value. More museums will recognize the importance of putting their collections on line to expand their audience and use digital collectables as ways to further their mission of education.
