61 thoughts on NFT

Guide: This article records some ordinary thoughts, which are completely subjective and for reference only. 1. If you are an artist, get rid of the path dependence of seeing is believing from now on. NFT is a new form of artistic expression, and it can also guarantee your rights and interests. Imagine that a hundred years later, the blockchain still records the moment when this work was born, and records which collectors it has been transferred to. Even after you leave the world, you can pass on the "creation ownership" of the work to your descendants, and they can get a commission for each work transfer, which is a "gift" from the artist to future generations. 2. In the traditional collection market, experts' identification of authenticity is the key. If experts say it is a fake, no matter how beautiful it is, it is useless; if experts agree that it is genuine, even if you spill Coke on the ground, you can still fetch a high price. 3. Sometimes the value of NFT does not depend on the first maker, it may be that the later Dapp endows NFT with new value. 4. At present, the asset types of NFT are too single, and 99% of NFT are works of art. In the future, 99% of NFTs should be financial assets, digital identities or data rights, etc., and the proportion of artworks/collections should be less than 1% in the future, which is reasonable. 5. Each NFT is a "structure description", and various information is recorded in the structure. For example, DEGO's shovel contains: grade, face value, picture, introduction, etc. 6. NFT does not rely on art to get out of the circle, because art is a low-frequency trading market, whether in reality or on the chain, the real value discovery of NFT in the future must be related to finance, and it can even be a decentralized digital identity . 7. Enriching the types of NFT assets, there is an NFT financial market. 8. NFT has a lot of room for application and innovation in the insurance field. Each policy is an NFT right, fully exercised on the chain, and does not rely on any centralized law enforcement agencies. Voting on Motion 121 "Registration of the Shell Parachain on Polkadot" has started: Polkadot tweeted that the voting on Motion 121 is now open. The motion proposes to register the Shell parachain on Polkadot to ensure block production, inclusion and finalization. The functions of the Shell parachain are extremely limited, and it does not even have the concept of an account. Shell only accepts messages from the relay chain to upgrade itself. Shell can eventually be upgraded to Statemint by conducting another referendum after the disputed code is activated. If passed by the committee, the motion will go to a referendum. [2021/10/29 6:20:18] 9. DEGO's ERC-908 protocol is too advanced, and the actual leasing, pawning and other behaviors cannot be implemented on the chain at present. The problem in (4) should be solved first. 10. Regarding the fragmentation of NFT, I have seen the solutions on the market, and DODO is closer to my imagination, but its solution does not involve the restrictions of long-tail assets, and a series of problems will still be extended after landing , but the general direction is relatively correct. 11. NFTfi and NFTx are worthy of attention, but only for attention. They are all good-directed, but wrong-path classic cases. But I still have that point of view, we must believe that people's thinking will evolve, and excellent solutions are always born in iterations, of course, the premise is that the direction is correct. The early ETHLend used P2P transactions but failed to do so. Later, it changed its thinking and used the lending pool solution, which solved the liquidity problem in the past and achieved Aave, which now has a weekly income of up to 4.4 million US dollars. 12. There have been many successful cases of looking for cases from reality and moving them to the chain, but I am more concerned about those business models that do not exist in reality. For example, Aave’s flash loan, SuperRare’s commission for artists, etc. I think there will be more series of "new businesses" in the NFT field. Justin Sun published an open letter on the democratic governance and development of the TRON network in the future: According to the latest news, Justin Sun, the founder of TRON and CEO of BitTorrent, just published an open letter on the democratic governance and development of the TRON network in the future. The average daily processing of transaction requests exceeds 1.7 million. It is the most important underlying infrastructure and layer-2 network in the industry. Personally, what I am most concerned about is to make Tron a good governance incentive mechanism, fast and efficient, and the cost is extremely competitive. This is also the core vision of TRON. I think the future development direction of the network should share the overall transaction fee of the TRX network with the super representatives, and then the super representatives will distribute it to the pledged voters behind. If It is said that Bitcoin is digital gold, then Tron is digital oil, and Tron will become a necessary consumable for economic activities in the digital currency field!" [2020/11/30 22:36:55] 13. Due to Aave, I Also one of the early investors in Aavegotchi. The reason why it attracted me in the early days was that at that time it was promoted to combine NFT+Defi to make a micro-innovation, that is, every little ghost was born from the mortgage of Atoken (the interest-bearing equity certificate on AAVE, which is the same as LP token). At that time, it seemed to me that it was in line with my judgment on NFT+Defi. Later, Aavegotchi's direction became more and more Gamefi, and the emphasis was on "Game" instead of "fi". I think this direction is problematic. 14. The focus of DAO+NFT is DAO rather than NFT. NFT is just a technical means. 15. Give priority to solving the problem of assets on the original chain, instead of running to combine with the real industry. It's not that the blockchain is going to us, but we are going to the blockchain, and most people are going in the wrong direction. 16. NFT+ip has been overheated recently. I believe that in the near future, many institutions that have been Fomo will be educated, and there will be many so-called big-name institutions. News | Huobi Mining Pool issued an announcement on clarifying that "Huobi Mining Pool mistakenly monitors BCH mining tasks": Huobi Mining Pool issued an announcement a few days ago saying, "At 2:00 am on the 15th, we used the "reconnaissance mining" technology When monitoring the tasks sent by the mining ports of other mining pools, because the BTC.TOP mining pool switched the BTC computing power on some ports to BCH for mining after the BCH hard fork, resulting in the Huobi mining pool The mining task of BCH was mistakenly monitored and sent to the miners of the Huobi mining pool by mistake. This wrong task only lasted for a short time, and then it was automatically terminated by the relevant error correction mechanism of "reconnaissance mining". of BCH mining tasks were captured by the third-party website pool.lol.” [2018/11/16] 17. You can’t completely use the thinking of consumer goods to look at NFT, but you can’t completely use it. There is a balance. 18. In the MarketPlace track, China does not have a strong player (this is also an opportunity), and there are so many overseas strong players. Why is the NFT Chinese project so unbearable? Does this mean that the soft power of Chinese culture is indeed seriously behind the West? ? 19. In reality, non-standard asset transactions are much larger than standard assets, but the current situation is that the market size of NFT is much smaller than that of FT. 20. ERC-721 deserves respect. Similarly, ERC-1155 is also worthy of respect (if the respect of ERC-721 is 100 points, then the respect of ERC-1155 is at most 65 points). Because the technical difficulty, problems and innovations of ERC-1155 are not as powerful as advertised. So, ENJ is a PR company, and recently it came out to make money again. (Sigh 21. CryptoPunk is a collectible that can travel through time. It can be said that it is the BTC of NFT. HashMask is the next potential high-quality target, but I think it is difficult to surpass it. It may become ETH of NFT. Maybe both of them Should it be the relationship between gold and silver? North Carolina’s bill on increasing digital currency license requirements passed: According to bitcoin news, North Carolina recently pushed the House of Representatives to pass Bill 86, which is under the Currency Exchange Act. Added new language for the state's allowable investments and fiat trusts. Final revisions to the bill included legal definitions for bitcoin and other digital currencies, and also required licenses for businesses using digital currencies. Some digital currency proponents and companies like Coinbase I think the bill makes the state more friendly to digital currency businesses. Currently, the bill has been submitted to Governor Roy Cooper, waiting for his signature. [2018/6/21] 22. Does NFT need a public chain? I think Need. But can ENJ do well? I have doubts. 23. Whale has a great reputation, direction and ideas, but what is the relationship between its Token and the collected NFT assets? How are those assets valued and liquidated? Sex? This is a question to be solved. 24. DapperLab is indeed the team that knows how to play NFT best in the world. In terms of unprecedented ideas, many key innovations have led the trend. Right now, there are "blind box airdrops", "NFT mining", "ino platforms", "NFT synthetic assets" and so on. Just take any of the products on DEGO and raise funds. A valuation of tens of millions of dollars. 25. I found that many people with strong knowledge may not be able to make good projects. Good knowledge does not mean that the project is good. The key to the success of a project lies in execution. 26. In fact, BSC overtakes on a curve The biggest opportunity is NFT. Because most NFT users and Defi users do not overlap, for the vast majority of NFT users, which chain to use and the degree of decentralization are not as concerned as Defi users. And in the NFT field , the advantage of ETH is not so obvious. The statement of the parent company of Shuidi Chip and Shuidi Mutual Aid on the issuance and trading activities of blockchain tokens: Shuidi recently issued a statement stating that the blockchain research done by Shuidi and its businesses are all None of the technological application explorations that promote the development of the industry are related to the issuance of tokens. Shuidi has never directly or indirectly participated in the issuance of tokens and trading activities in any form such as token investment or equity investment, nor has it cooperated with any institution or individual No cooperation has been carried out in this regard, and no subject or individual has been authorized to use the name or logo-zce of Shuidi Company and business in token activities. [2018/3/27] 27. Some people may ask why most NFTs are works of art? Because Most users and even senior industry practitioners come into contact with NFT for the first time because CryptoKitty. Before the emergence of new things, it is difficult for people to jump out of the fixed thinking frame (of course this includes me), just like we did not realize how convenient a "smartphone" was before the iPhone appeared. 28. NFT lending is a very big track. As an entrepreneur, I am excited about it. But it is too early, and the time is not ripe now, including NFTfi's current choice is wrong. Exposing the practice too early is very likely to become a martyr, and sometimes it is more labor-saving to start late and come first. 29. NFT can not only package assets, but also be used as a proof of rights and interests, and this rights and interests can be further refined, such as the boundaries of rights and interests, etc. 30. The development of decentralized storage has also affected the development of NFT. 31. Stories about the reuse of NFT assets were very popular in 2018. That is, the NFT held by the user belongs only to himself, not to any "centralized server" in the past. Users can use their own NFT in the world built by countless Dapps. For example, the dragon-slaying sword in A-Dapp can be used in the B-Dapp world. Now in 2021, those stories are actually established, but it is still too early. 32. Chain games are a very good track, but there is still no case that I think is relatively "successful". In 2018, NetEase launched the game "Naishuihan" combined with blockchain technology, and then it seemed that nothing happened. Some people think that the infrastructure is not mature enough, and there are solutions that do not require all content-zce to be processed in a "decentralized" way, but it seems that no good results have been seen. 33. NFT is very suitable for bragging for people who don't understand. 34. There is a wonderful project in the Philippines called YGG, which can be understood as the goldsmith union in the game. It is said that the current situation is (I have no specific experience), because Axie’s pets are very expensive, and the labor cost in the Philippines is very cheap. YGG has used the cheap labor in the Philippines to the extreme and rented out these assets to “hard workers”, and these hard workers went to work. The money earned from the game is distributed to capitalists as dividends. Do you feel particularly magical realism? The rules of the game in reality seem to be not much different from those on the chain. 35. The cross-chain of NFT is not very important now, but it will be very important in the future. Why? Because most of the NFTs are works of art at present, the cross-chain demand for works of art is not too great. In the future, there will be most NFT financial assets, so cross-chain is particularly critical. 36. Everyone is an NFT. To establish the concept of digital identity, NFT must be used. 37. NFT and FT are relative. When NFT is no longer an independent track, it will not be underestimated. Have you ever heard of someone using FT as an independent track? 38. Traditional art and NFT art are two different things, with different user groups and consumption concepts, completely different things. 39. Before Christie’s auction, there is a link to verify the authenticity. It is said that more than 60% of the authenticity of the verification is already very good. This situation will not exist in the NFT field. 40. NFT solves the counterfeit problem? In fact, it is not. There are two situations here. The first is to imitate the author's technique, copy a certain painting, and circulate and resell it in the market. This will not exist in the blockchain world. The second is the more painful situation brought by the blockchain, directly copy any PDF file, package it into an NFT and upload it. Who knows if this work was uploaded by the original author? 41. The phenomenon of selling other people's works for money after NFT is repeatedly prohibited. How to solve this problem? Can it be combined with identity information? It feels like it's going to be hard to fix. Just like the major e-commerce platforms have not solved the problem of fakes until now. 42. Web 3.0 is a grand vision. What it wants to achieve is people's "ownership" and "management rights" for their privacy, identity, data, assets and other rights and interests. Then, NFT will be an indispensable and important part of Web 3.0.

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