Just like a baseball card, a comic book or other physical memorabilia, how desirable collectors find a NFT depends on a number of factors and nothing that Sweet can control. Factors that can influence how people choose to collect NFTs include such things as rarity, scarcity, provenance, and even nostalgia.

Rarity

How “difficult it is to get” a specific NFT determines its rarity. An example of rarity is a one-of-a-kind piece of art by a famous digital arts creator or a NFT created by a famous person or company, such as a musical artist or sports team. Another factor affecting rarity is whether the acquisition of the NFT was affected by time or geography limitations. In these cases, the ownership of the NFT gives a sense of distinction and prestige to the owner. Thus collectors may find the digital collectible more desirable.

Scarcity

Scarcity may refer to the difficulty producing a similar piece due to its unique aspects. Some examples are the original pictures taken of famous sports personalities such as basketball great Michael Jordan or hockey legend Wayne Gretzky. Another example is the first tweet posted by the former CEO of Twitter.

Provenance

Provenance refers to the history of any given NFT from its creation (minting) on the blockchain. It provides the historical record of previous owners and the authenticity of the item. The provenance may be increasingly important depending on who owned the token in the past.

Nostalgia

A NFT by a singer whose song was playing when you fell in love, a token representing your favorite player for whom you and a parent cheered to victory, or a cultural icon creating unique art that speaks to you, all of these things can drive your personal attachment and desire for the NFTs that you choose to collect, curate, and share with the world. They are the digital representations of the moments that define who we are.


LETTING GO | MAKING ROOM | COLLECTING NEW

Just as in our physical spaces, we sometimes feel the need to make space in our digital collections. In the Sweet marketplace, tokens are able to be sold via direct listings or through auctions as well! Check here for more info: https://help.sweet.io/en/articles/6284737-fixed-price-nft-sales-on-sweet

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