The currency circle is popular again in the art collection field.Investment in new products or the beginning of change? Can NFT continue to write the Bitcoin legend?

Investing in ethereum-based digital art is taking off, with cryptocurrency investors starting to pour tens of millions of dollars into it. A GIF picture named "Nyan Cat" (Nyan Cat) once sold for 590,000 US dollars; Ten thousand U.S. dollars. And all of this is a product of NFT flashes. Rainbow Cat Image Source: Screenshot of Youtube And this craze is no longer limited to digital art collections. In sports, music, games and other industries driven by the "fan economy", the emergence of NFT technology has brought more investments. possibility. NFT is the abbreviation of Non-Fungible Token. Bitcoin, Dogecoin, Ethereum, etc. are homogeneous cryptocurrencies, and there is no difference between each unit of cryptocurrencies. Suppose you hold 10 bitcoins, there is no difference between these 10 bitcoins, the attributes and values are exactly the same, and these bitcoins are the same as the bitcoins owned by other people. Therefore, no matter where it comes from, any bitcoin can be used in payment, transfer and other scenarios, and can also be exchanged or divided into smaller units, such as 0.01 bitcoin. Compared with homogenized tokens, NFT's non-homogeneous attributes are reflected in its scarcity, indivisibility and uniqueness. In other words, every NFT is different. Live ｜ Jenny Sun - TokenBetter > A traditional publicist's ambitions in the currency circle: Jinse Finance Live hosted the third issue of "Currency Circle "Houlang" Fairy Live Week" tonight at 20:00 on time. This issue of "Houlang" Fairy TokenBetter Brand director Jenny Sun will talk about "a traditional public relations person's ambitions in the currency circle" in the live broadcast room. Interested friends scan the QR code and move to listen! [2020/6/4] If you use a life-like scene as an analogy, NFT is equivalent to giving a unique number to a certain mobile phone photo of an individual. Because of the unique identification number, this photo also becomes unique. At the same time, the content, value and valuation of different photos are not the same, so two different photos cannot be exchanged for equivalent value, and the photos themselves cannot be divided into smaller units. In addition to its outstanding non-homogeneity characteristics, NFT also has the nature of application tokens or asset-backed tokens. At present, there are two types of blockchain tokens: one is the original token, if the blockchain is regarded as a digital ledger, the native token is the accounting currency unit that the ledger can operate; the other is Asset-backed tokens represented by NFTs. By "uplinking" external assets or rights and interests, the digitization of assets is realized, and the newly generated tokens can be transferred and traded in the blockchain system. Each NFT has a unique ID, covering fields including artwork, collectibles, DeFi, games, virtual space, sports pages, and public facilities. It can be compared with real estate, cultural works and art collections, and can reflect the value of abstract objects. It is understood that the development of NFT began with Ethereum. In the live broadcast | "Houlang" fairy live broadcast week in the coin circle- Binance He Yi: Jinse Finance · Live broadcast "The "Houlang" fairy live broadcast week in the currency circle" started on time at 17:30, and the eighth "houlang" fairy in this issue He Yi, co-founder & CMO of Binance, will talk about "The Road to Bitcoin Halving I Experienced" in the live broadcast room. Interested friends scan the QR code to listen! [2020/5/15]Ethereum is a global open source platform and smart contract for decentralized applications. The main network was launched in 2015. Ethereum, like other blockchain platforms, has the widely known cryptocurrency Ether (ETH). But the application of Ethereum is not limited to cryptocurrencies, but allows users to build decentralized markets, financial applications, games, etc. like NFT. According to the official website of Ethereum, users can manage digital assets and run programs by writing codes on the Ethereum platform without geographical restrictions. In layman's terms, Ethereum is like a world-class computer, and the applications running on it are called "smart contracts". In fact, NFT is not a new thing that has been produced in the past two years. It began to enter the public's attention because of a blockchain game-CryptoKitties. In 2017, the encrypted cat game created on Ethereum was launched, and users can buy, collect, sell, and breed virtual cats. Different cats have a unique combination of attributes, for example, each cat has a different combination of eyes, hair, tail, mouth, and even expressions. It is the uniqueness of each virtual cat, coupled with the rarity of some cat traits, that makes the cat image in the game an NFT for trading and collection. Currency Observation Room | Will repurchase and burning become the driving force behind the bull market in the currency circle? : At 10:00 on March 4th, the golden disk invites Paul the Great, Grandpa Bi, Brother Hua, Andy, Cao Shouzheng, Zhongda, Cangzi AKG, Master Gu, Bitcoin Road, Xun Sensen, Chenshi Investment, @老汉说币, Biyesheng, and more than a dozen market experts visited Jinse Finance's "Currency Observation Room" to discuss "repurchase and destruction, will it become a bull market driver in the currency circle?" ",stay tuned! Scan the QR code below to watch the live broadcast! [2020/3/4] At the initial stage of the game's launch, CryptoKitties contributed three-tenths of the transaction volume on Ethereum. According to the Money Morning website, the most expensive virtual cat in the history of trading is an encrypted cat named Dragon, which was once sold for 600 ETH (about 170,000 U.S. dollars). After that, NFT has become more and more popular with celebrities from all walks of life. Under the aura of "celebrity effect", NFT was able to "break the circle". Twitter founder Jack Dorsey (Jack Dorsey) sold his first personal tweet in 2006 in the form of NFT at the Valuables online auction, with the content-zce "just setting up my twttr" (just setting up my twitter) . Unexpectedly, the final transaction price of this tweet exceeded 2.9 million US dollars. It is understood that the Valuables project of Dorsey’s auction tweets supports all Twitter users to buy other people’s tweets and sell their own tweets. Each traded tweet will be minted into an NFT, and these tweets are also called NFTweet. Tesla CEO Elon Musk is an avid fan of cryptocurrencies. He announced on Twitter on March 16 that he would sell a song about NFT as NFT. The music is a self-created dance song with the theme of NFT. In the background of the dance music video, an NFT trophy spins in space surrounded by many cryptocurrencies. MEX skyrocketed by 40%, staged a skyrocketing currency circle: Today, in the context of the overall downturn in the digital currency market, MEX skyrocketed by 40%, staged the currency circle 'if it doesn't fly, it will skyrocket', some people analyzed it as an official repurchase, Some people think that it is caused by the joint stimulation of active-zce users, which is the true belief of users in MEX. Recently, the MEX team has been working on the upgrade of the MEX trading platform and the research and development of derivatives, and has not made an official response to the surge of MEX, but the daily registered users of the MEX exchange have increased by 50 times. Some people think that if the exchange business develops rapidly, the rise of MEX today may be just the beginning. [2018/4/22] For a time, creators, investors and enthusiasts from different fields all participated, blockchain and NFT platforms, artists, collectors, commercial companies, individual investors, investment institutions, etc. all gathered here. What really makes NFT recognized in the field of art collection is that traditional art auction houses begin to cooperate with NFT art. In October 2020, an anonymous buyer bought a bitcoin-themed artwork at Christie's, a world-renowned art auction company, for $130,000. Not only is the collection transcribed from the code behind the Bitcoin blockchain, but it is also associated with an NFT and hosted on Ethereum. Just this month, in a special auction at Christie's, the purely digital work Everydays: The First 5000 Days from the American artist "Beeple" was sold for nearly 70 million US dollars, setting a new auction record for digital art. The development of NFT is becoming more and more prosperous, which can be seen from the growth of the NFT trading market. Zhang Yunpeng of Songhe Capital: The currency circle has some negative effects, covering up the value of blockchain technology: Zhang Yunpeng of Songhe Capital said in an interview a few days ago that he also invested in the first blockchain project last year. He said that "as an advanced technology, the blockchain The technology has been affirmed by the industry, but there were some negative impacts on the currency circle before, which covered up the true value of this technology to a certain extent." Zhang Yunpeng also said, "It is difficult to understand any new technology at the beginning, but We all make judgments with our limited ability, and we cannot use it as a tool to get rich. The key is not whether to invest or not to invest, but whether to invest well.” [2018/3/18] According to data from the NonFungible website, so far the entire The total transaction volume of the NFT market is more than 5.4 million, while the total transaction value exceeds 550 million US dollars. According to a report on the website of Fortune magazine in March, OpenSea, as the largest NFT trading market, received $23 million in venture financing, and is expected to become the "Amazon" of NFT. Why is NFT popular? Different people gave different answers. ARK Investment Management Company of the United States believes that NFT will help the control of art works transactions return to the hands of creators. Traditionally, the path for creators to make money from digital content-zce is as follows: content-zce creators upload digital works to digital media platforms—the platform monetizes the content-zce through business models such as subscriptions and advertisements—the platform pays a certain percentage of profits to content-zce creators. In this process, digital media platforms play a key role in creating commercial value, but this greatly weakens the dominance of digital content-zce creators. NFT supports peer-to-peer decentralized transactions, and digital creators can complete the sale of works without relying on intermediaries. Another point of view is that the encrypted digital asset trading market is booming, and Bitcoin continues to hit new highs, making the development of the "currency circle" a new breakthrough, and the market needs a new story. NFT has continued to develop for four years, and it just happens to be on the cusp. With the help of the trend of DeFi (decentralized finance), it is quite natural for the heat to spill over to NFT. However, Li Lianxuan, the chief researcher of Okey Cloud Chain, pointed out that the bull market in the cryptocurrency market has little to do with NFT, and there is a significant "pricing problem" in the DeFi+NFT model. Non-standardization is the asset characteristic of NFT. It is difficult for people to form a unified evaluation of unique assets, so it is also difficult to form a unified price standard. In order to illustrate the collateral value guarantee and liquidation risks that NFT lending and mortgage businesses may face, Li Lianxuan gave a vivid example: Suppose A has an NFT in his hand, and A evaluates it at $100. Then A and B conspired, claiming that B was willing to buy NFT with $1,000. Borrower C refers to the market standard and gives an NFT price assessment of US$800, and then A pledges this NFT to C, lends US$800, and does not intend to repay. Later, B withdraws his offer and is only willing to buy NFT for $50, then the NFT collateral in C's hand will depreciate and have actual losses. As for the statement that "everything can be NFT", Li Lianxuan said bluntly that the current NFT market is not standardized, good and evil are mixed, and investment hype is serious. The formulation of "everything can be NFT" tends to ignore the strict conditions of NFT, and the emergence of a large number of fake NFT is very likely to be used for hype and fraud. Converting to NFT requires two conditions: one is digitization, and the other is uniqueness or scarcity. Regarding the first condition, Li Lianxuan said that in addition to items that are in digital form, non-digital objects that can be chained can also be turned into NFTs, but this is not too much at present. The "on-chain" of physical assets is a hot topic in the discussion of the prospect of NFT. The anti-counterfeiting cost of physical assets represented by automobiles and real estate is high and their liquidity is poor, and the system cost and credit cost of transactions are relatively high. Therefore, the government's supervision department plays an important role in the transaction of real estate. Assuming that the blockchain can be applied to the trading market and supervision of physical assets, thanks to the exclusive rights of NFT or the uniqueness and confirmation of NFT, it will be possible to make the "on-chain" physical assets more liquid , efficient transactions can be carried out, and assets cannot be counterfeited. However, at present, many physical assets cannot be truly chained and purely digitized. Li Lianxuan explained that the real NFT can complete the transfer of property rights in the online world, instead of exercising rights in the real world. NFTs that need to be exercised in the real world are all pseudo-NFTs that rubbish the concept. Therefore, today's physical asset NFT is not absolutely real and safe. The second condition for NFT objects is scarcity. If NFT is not scarce, digital video, audio, pictures, and tweets in the online world can be copied and imitated at will. In addition, the lack of scarcity cannot support the high pricing of some works of art or collectibles. Even if "scaled industrial products" are given a higher price, the formation of this kind of bubble price does not rule out the element of speculation. Whether the prosperity of NFT is a bubble or a change, Li Lianxuan expressed cautious optimism: "At present, speculation and hype in the NFT market are prevalent. After this round of bubble bursts, NFT can usher in new development." NFT ushered in a short-term boom in 2018. heat, but this heat quickly disappeared. Until today, three years later, there was a new round of skyrocketing NFT. It is worth noting that the application and development of NFT still face other risks. NFT’s own ecological development has encountered bottlenecks, insufficient social awareness, security loopholes, policy supervision and other issues have aroused concerns from players and the outside world. Li Lianxuan told the "International Finance News" reporter that the current NFT investment risks mainly include the following points: First, the NFT market is facing copyright risks. For example, works of artists or works very similar to them are "cast" in NFT and sold outside without authorization. Second, with the rapid development of the market and the exorbitant prices of NFT sales recently, market manipulation is also a big risk. NFT markets can be subject to fabrications by manipulators, leading to potential fraud and claims. There is also an emerging issue of account theft and loss of NFT due to theft. Some Twitter users posted that they lost NFT in their Nifty Gateway account. In addition, the market price of NFT is more subjective. Therefore, in the process of holding, users need to consider holding costs, circulation risks, regulatory issues and make reasonable investments, choose a reasonable NFT investment method according to their own risk preferences, and correctly participate in the development bonus period of NFT.

Tags：

Dogecoin Price