Today we discuss why digital collectibles connect with us in new ways and why if you’re a brand you need to understand what this is all about.
To start off, let's talk about our core human needs. According to Maslow’s hierarchy we have 5 core needs. Basic needs like Shelter, warmth etc., Safety, Belonging, Self-Esteem and Self Actualization.
Now of course, if we don’t meet our basic needs we don’t spend too much time thinking about who we are in the world. But as soon as we hit the belonging and self esteem needs, this really dictates who we are or our identity (or ego). Fortunately in the western world, this is something we’re privileged to focus on.
#1. Digital Collectables Help Us Form An Identity
Identity makes us an individual. It's our identity. It defines how we look in the mirror. Whether we think we are cool, are we intelligent, are we fun etc. It's incredibly important and brings meaning to our life.
Today, who we interact with and what we own helps us define this. Whether it’s a car, a brand, a home in a certain neighborhood or what we drink. Our identity is a human need, because without it, who are we.
In fact most of us have enough clothes for years ahead, yet we buy them. On the surface, this is irrational, yet when you understand that what we wear helps us fulfill our basic needs it makes perfect sense.
However in the recent years the digital world has helped us achieve these needs. Yet aside from social media where we need to publish content or do certain actions to build our identity - this takes a lot of work.
#2. Digital Collectables Help Us Belong To Something
The other human need that digital collectables help us with is 'belonging'. Since the dawn of time we've congregated in communities to trade, entertain and socialize, and we usually form communities around an idea, commonality or a shared purpose.
In the last 20 years, thanks to the social media age, the digital world has helped us find communities that support our interests. In some ways, we were able to join communities we couldn't find in our geographic location before this.
We initially found belonging in online forums and facebook groups where you can basically find a community or tribe for anything you’re interested in. The facebook like button allowed us to show off who we were. Then instagram, Clubhouse, Linkedin and Twitter allowed us to show that we are important through the number of followers we have or the number of likes our social media had.
#3. Digital Ownership Helps Us Express Who We Are
Today we only have a number of channels to show who we are and find our tribes. We can learn about others and if they share our values through following them online or meeting them and talking to them. Yet we struggle to tell the rest of the world who we are digitally easily.
Digital ownership can help us tell our story of who we are and what we care about in new ways. Social media was all about sharing content and thoughts. Digital collectibles will allow us to prove our affiliation and status with the organizations we love. We will soon have our digital portfolio of everything we own
Additionally people have entered new communities that have allowed them to feel a strong sense of belonging, status and recognition for the things they love.
Bored Ape owners would travel across the country to attend these incredible events. Reddit users now have claimed their exclusive avatars showing they too were part of a subculture and a special part of time and can prove it.
What's Next For Digital Collectables
NFTs are becoming the vehicle to allow us to express what we love digitally, without expending a high amount of effort publishing, liking or nurturing our own following.
It’s only time until there will be an instagram tab to all of the things you own which people will proudly use to showcase who they are. In fact it’s already happening on NFT.com.
For this reason, we're extremely excited about the value they can offer to the world and how they can strengthen our interactions in the future.