The estimated size of the global collectibles market is $370 billion.
People have an innate propensity to collect, which drives purchases of collectible goods like art, games, sports memorabilia, toys and more. But given that the world is rapidly adopting digital each day, how likely is it that this market can continue to grow as is?
Won’t this primarily physical market have little choice but to evolve with the times?
With an increase in digital adoption, a step-function innovation is emerging; digital collectibles. The new medium is gaining in popularity and its influence is spreading relatively quickly.
The potential impact on the cryptocurrency landscape, while seemingly unrelated, is quite profound. Businesses already present in the collectibles market have new offerings, demographics and economic impacts to take into account. Even household brands are acknowledging their significance and building strategies around them.
Digital collectibles have taken a foothold and are well on their way to increase their presence in our daily lives.
What is a digital collectible?