If you have ever watched the show “Pawn Stars”, then you know how they sometimes lowball hopeful sellers. Given the proper setting, antiques and collectibles can fetch a hefty sum, adding value to their limited supply.
Now, Snapchat looks to move into a similar area, with a new patent filing showing an “image-based valuation system.” The new experimental Snapchat Collectibles valuation system will allow users to appraise any item’s worth via Snap cam scanning.
Based on early examples from Snap, one user scanned a Pokemon card with the system to find web-based examples. After the system collates the data, it creates a price estimate from the basic identifiers of the scanned item. Unfortunately, the system cannot verify variables like authenticity and item condition.
“Snap’s system relies on computer vision to identify items, detect their quality, and assign value to them. So, a user could flash an item in front of the camera, specifically noting that it can be a collectible item, like a “trading card or comic book.” The system will classify the item by accessing a “a repository that corresponds with the object class,” though it doesn’t divulge too many details about where this repository is located and what items are in it.”
It is not entirely clear where Snap will pull its valuations from, though eBay remains a primary source for most collectors. From that, the system would provide somewhat of a valuation, which could come in handy for collectors. Anyone can basically be Rick Harrison on Snapchat when this drops.
Avid collectors can infer how this new system could be valuable. The new experimental Snapchat Collectibles valuation system helps provide immediate valuation info, bypassing the need to trawl through listings websites. If the system can detect certain variables and elements, then it could be a convenient way to acquire information quickly. The system also helps Snapchat better understand users’ interests for future content and ad targeting.
While it may not be a major element for Snap, it could be a valuable component, depending on the results. The new experimental Snapchat Collectibles valuation system could expand the app’s utility, especially for a range of niche groups. Likewise, that would also improve Snap’s ad targeting databanks. While information remains limited on this initiative, it could make Snapchat a better platform for targeting collectors.