This story was originally published in The creators — a newsletter about the people who run the creative economy. Get it delivered to your inbox.
Infinite Objects is a design and technology company founded in 2018 to give video a more tangible way to be exhibited. The company raised $6 million in seed funding, and has worked with digital artist Beeple. Observer executive editor James Ledbetter recently caught up with founder and CEO Joseph Saavedra, and CEO Roxy Fata; this transcript has been edited for clarity and length.
Observe: Let’s start with a description of infinite objects.
Joseph Saavedra: Infinite Objects creates custom physical representations of digital assets. These can be blockchain-backed assets. We focus on video, something tangible, something you can appreciate outside of a browser and outside of an app. With blockchain assets and NFTs, we take the provenance, the authenticity of the blockchain data and infuse the physical permanently with that provenance as well. So we really connect the physical to the digital. Our products become a one-to-one physical twin of the digital resource.
And why is that an advantage?
Saavedra: Because we really raise the value of the content and emphasize that this is a collector’s item. Just because it’s a file doesn’t mean it can’t be physically collected as well. Our product is completely unique in that it has no buttons, no switches, no connectivity and can never be updated.
Roxy Fata: I think the average consumer finds value in experiencing something and receiving something in a purchase. It helps artists – artists want their pieces displayed in spaces so people can get to know their work. So it has advantages in that regard as well.
Many people think of NFTs as something to speculate and flip. What percentage of NFT buyers do you think are interested in this kind of permanent physical presence?
Saavedra: I would venture to say that 90% of NFT collectors have at some point asked the question “How can I display this?” Without having to open the phone to show my friend. It’s a question you see on Twitter all the time.
The NFT market kind of took off in the early 21st. It seems to have cooled off considerably. How does it affect your business?
Fata: Not at all. We define a completely new product category. We cater to many different audiences, but with NFT specifically, there is no cause for concern, we have so much faith and belief in the technology of Web 3.0. It has been truly amazing to see art leading the way in understanding how this technology can be used in the future.
Saavedra: What you’ve seen cool down are the floor prices, right? You’ve seen the actual US dollar value of X, Y or Z investments drop by half. Our product has nothing to do with floor prices. Our product is exclusively for people who are fans of the content they collect. If you are a fan of the NBA, of Lady Gaga, you will want to show off your collection. That’s the audience we build for.
How can an individual creator benefit from Infinite Objects?
Fata: We work with a ton of them and we find that adding the physical really helps their sales. We work with many galleries as well.
Where do you see the digital collectors market going?
Fata: In a great direction. It’s only going to become more and more popular. Tons of brands see the value in that. It’s just that sneakerhead culture of people who really want. There are still queues down sneaker stores. I believe that it will not go away.
Saavedra: The idea of a digital collectible has now been accepted as a thing, whether it’s a thing that’s going to give you a thousand percent return. I think we’re moving past that, which is a big thing.
This interview was originally published in The Creators, a newsletter about the people who run the creative economy. Get it in your inbox before it’s online.