The pandemic led to renewed interest in many childhood collectibles like baseball cards as we had more time to spend at home to sort through old boxes. At the same time, there was a meteoric rise of blockchain-based technologies using non-fungible tokens (NFTs) to create a new class of digital assets. Infinite Objects takes moving images or videos and offers a unique way to display these creations, whether for an NFT, personal library, or licensing deal. Physically, the company offers one physical display that is always tied to a single video. Behind the scenes, this display comes with complete provenance and authenticity, making it unique. Custom video prints start at $79 and come in either 5” or 7” displays that play videos up to 24-hours in length. Infinite Objects’ marketplace also features several video prints in limited runs from emerging artists. As the popularity of NFTs continues, we expect that Infinite Objects will be well-positioned to serve this market as an infrastructure play.
AlleyWatch caught up with Founder Joseph Saavedra to learn more about the inspiration for the business, strategic plans, recent round of funding, and much, much more.
Who were your investors and how much did you raise?
Courtside VC led our $6M Seed financing, with participating investors including Serena Ventures, Fuel Capital, Advancit Capital, Betaworks, Brooklyn Bridge Ventures, GFR Fund, Dapper Labs, Kevin Durant and Rich Kleiman, cofounders at Thirty Five Ventures, Genies, Sound Ventures, and more. Angels include Scott Belsky, ThankYouX, and Shawn Mendes.
Tell us about the product or service that Infinite Objects offers.
Infinite Objects believes that moving images should be appreciated the same way posters, prints, and photographs have been for decades; not just trapped in phones, laptops, and camera rolls. So, we’ve created permanent physical expressions for all digital videos. We are constantly working to develop novel and compelling ways to elevate video—whether that’s NFTs, licensed material, or consumers’ own personal content—and defining a new way to buy, own, sell, and experience moving images.
What inspired the start of Infinite Objects?
There was an obvious lack of opportunity for creators, independent publishers, and artists working in video to monetize their work. Consumers have bought or owned video since DVDs over 10 years ago. So, Infinite Objects was founded with the mission to make video collectible again, in a magical, physical form factor.
How is Infinite Objects different?
We are first to market with a permanently treated display, and unlike digital frames, we really bring the focus to the content, not the gadgetry.
What market does Infinite Objects target and how big is it?
We think of Infinite Objects as paper for video, which makes the opportunities for printing video infinite. We believe there’s a reason for everyone to own a Video Print, and working with creators, brands, and publishers, as well as individuals to bring their favorite moving content and memories to life means that our target market is incredibly inclusive.
What’s your business model?
Today, we print video whether it be art, entertainment, or personal content. Our business model with partners range from traditional licensing deals through NFT auction models. Users can also upload their own personal video directly to our site and for the first time ever gift a video to their friends or family, in a direct-to-consumer sales model.
How has COVID-19 impacted the business??
We’re incredibly grateful that COVID-19 didn’t have a significant impact on our business in either direction- it neither propelled or stagnated our growth. That being said, people are paying more attention to the moments in life we want to commemorate as well as elevating our personal spaces, and Infinite Objects is able to do both.
What was the funding process like?
Our thesis that video has value has been unequivocally proven by the rise of NFTs’ popularity in the mainstream. This made the fundraising process super exciting, and extremely quick in terms of start to finish.
What are the biggest challenges that you faced while raising capital?
The biggest challenges were around thoughtfully selecting which partners to bring in this round and which will make more sense for the future.
What factors about your business led your investors to write the check?
The community and product offering that is at the core of what we do is incredibly important to a variety of audiences. Providing a solution for both creators and the limitations around collecting and monetizing video content is something people have been looking for for quite some time, and the simplicity in which we’re able to do that made IO compelling to our investors.
The community and product offering that is at the core of what we do is incredibly important to a variety of audiences. Providing a solution for both creators and the limitations around collecting and monetizing video content is something people have been looking for for quite some time, and the simplicity in which we’re able to do that made IO compelling to our investors.
What are the milestones you plan to achieve in the next six months?
We plan to use the funds from our seed round to expand our NFT offerings for artists, publishers, and content creators.
What advice can you offer companies in New York that do not have a fresh injection of capital in the bank?
Thinking outside the box and being resourceful, no matter how much capital or other resources you have, is key. So many things have been done before, focus on how you’ll make life different and better, and be the biggest advocate for the communities you’re serving with your products and services.
Where do you see the company going now over the near term?
Since day one, our goal with Infinite Objects has been to create products that give digital content—specifically video—the value it deserves, by creating a place for it to live outside of our phones and browsers. NFTs have validated the idea that video can be sold, owned, and collected and that scarcity only drives value higher. In many ways, our product was made for NFTs, and we couldn’t be more excited to bring on an incredible new cohort of investors and partners to bring this vision to collectors and creators across art, entertainment, sports, and media.
What’s your favorite outdoor dining restaurant in NYC
Our whole team loves Azul Rooftop in SoHo, which is close to Infinite Objects’ HQ. Amazing view, equally great tacos.”
You are seconds away from signing up for the hottest list in Tech!
Sign up today
Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://www.alleywatch.com/2021/05/infinite-objects-digital-video-print-nft-collectible-joseph-saavedra/
