Crypto Exchange Crypto Exchange
Ctrl+D Crypto Exchange
Home > TRX > Info

NFT is emerging, but how far is it from the public?



NFT has followed the trend of DeFi, but it still has a lot of time to go out of the circle. There may be certain misunderstandings and limitations in the market segments currently being explored.

What exactly is the NFT that everyone is talking about?

After the DEFI heat was suspended, the market turned its attention to the NFT track. With the Ethereum application CryptoKitties, which exploded in 2018, in the forefront, this field is favored by many investors and has great potential. But many people only know that "NFT is an indivisible token", but they don't know the technical logic and commercial value behind it.

In fact, NFT is a kind of Tokenization technology. Many people understand that NFT started from Ethereum ERC721. Unlike ERC20, non-homogeneous token NFT has indivisible and unique characteristics. But these are only part of the concept of tokens. Through intelligent combination and specified data interface, we can define a variety of tokens to represent various commodities or rights in the real world. The blockchain is the network infrastructure for the circulation of tokens, and serves as a background technology to support the operation of tokens. Future business activities need to be based on tokens, and NFT is one of them.

Shiba Inu and fashion luxury brand John Richmond will cooperate to issue NFT: On March 2, Shiba Inu (SHIB) announced a partnership with British fashion luxury brand John Richmond, and will launch 10,000 JR x SHIB NFT. Its collaboration garments will be presented during Milan Fashion Week.

It is reported that Richmond was founded by British fashion designer John Richmond, who has worked with superstars such as Madonna, Kate Moss, David Bowie and Britney Spears. [2022/3/2 13:31:59]

2020 blockchain technology trends

Image source: Gartner 2020 Blockchain Technology Maturity Report

At present, NFT and token technology can generate various assets according to different attributes and values, mainly including game props, collectibles, financial bills, etc. According to the token types defined by the Token Taxonomy Initiative, NFT can be further divided according to different units, value types, distribution methods, etc. For example, the artwork "Mona Lisa" can be said to be unique (Singleton), and the national flag as a pattern is a whole (Whole), but it can be copied; and both of the above can use NFT to represent its value . The token technology allows the subclasses of the token to inherit the properties of the parent class. We call this method a hybrid NFT (Hybird).

Stanford professor Jeff Strnad joins the financial NFTs platform Pledge Strategic Advisory Committee: According to official news, on January 13, Plege Finance announced that Jeff Strnad has joined its strategic advisory team.

Jeff is a graduate of Harvard University (BS in Physics) and Yale University (JD and PhD in Economics), and an influential scholar and teacher in the fields of finance, statistics, law and blockchain. He has been active-zce in the financial industry, playing a key role in developing the regulatory space for new funding methods for start-ups during the dot-com boom. Jeff is the founder of a startup company currently engaged in the development of innovative real estate finance models aimed at promoting the application of blockchain and DeFi.

Pledge strives to be the world's bitcoin lending marketplace, focusing not only on providing long-term loans, but also on providing the building blocks needed to create next-generation lending dApps. [2022/1/20 9:01:09]

The godfather of heavy metal Ozzy Osbourne will launch the first NFT series "Cryptobatz": On December 28, according to Rolling Stone magazine, the godfather of rock and heavy metal Ozzy Osbourne will launch the first NFT series "Cryptobatz", which contains 9,666 NFTs. Ozzy Osbourne is The lead singer of Black Sabbath, one of the greatest metal bands in the world, and one of the most well-known singers in rock history, the new series created by Osbourne himself and NFT studio Sutter Systems will go on sale in mid-January and will bring the NFT market Coming to a world-first innovative feature, each Cryptobat will offer collectors a unique opportunity to generate an additional NFT. [2021/12/28 8:08:43]

Comparison of main NFT asset attributes Source: "Token Taxonomy Initiative" Drawing: Cointelegraph Chinese

Cai Guoqiang, director of Beijing Olympic fireworks and fireworks artist, debuted his first NFT project: On June 30th, the digital platform RAM+ of the Rockbund Art Museum was launched, and Cai Guoqiang will showcase his first NFT project "The Eternity of Moment - The Detonation of 101 Gunpowder Paintings" . The works will be displayed online from July 14th to August 14th. (Rhythm BlockBeats)[2021/6/30 0:17:50]

NFT Value Source and Commercial Landing

NFT has various types and rich functions, and will become the most important asset class in the blockchain field in the future. In addition to the original virtual assets on the chain or in the network represented by NFT as a value symbol, as NFT transfers real commodity ownership and income rights to the blockchain, digital assets worth hundreds of millions of dollars will likely be transferred to the blockchain. On the block chain, and then broke out in the secondary market, releasing huge transaction value.

Compared with off-chain asset mapping, native virtual assets on the chain will be more suitable for the current NFT application. Now the NFT-related industry is still in a very early stage, especially in the asset creation process. Above we mentioned the "Intrinsic/Reference" of Value Type when we classified asset attributes, which is to distinguish the value of NFT from "endogenous or related to real assets". Compared with physical assets, NFT virtual assets on the chain will have relatively more advantages in terms of liquidity, transaction costs, scalability, and transparency, but the problem lies in the process of "mapping" value, which involves many practical obstacles. It is far less likely to be commercially implemented than native virtual assets in the network.

GameDAO's NFT trading market POPNFTs will open to support HAI transactions: On April 28th, GameDAO's NFT trading market POPNFTs announced that it will open to support HAI transactions. GameDAO and HaykerDAO, a decentralized stable currency lending agreement, have reached an in-depth strategic cooperation this time. The two parties will cooperate in multiple fields such as wallet application support, community cooperation, ecological construction, and market expansion. This powerful alliance will help consolidate their respective advantages and comprehensively promote the development and growth of the ecology.

It is reported that GameDAO is an NFT encrypted art entertainment creation platform on the Huobi Ecological Chain (HECO). It integrates an NFT creation platform (NFT By your), a full-chain NFT product distribution platform, and an interactive entertainment system. possible.

HaykerDAO is a decentralized autonomous organization and smart contract system on the Huobi Ecological Chain (HECO), providing the decentralized stable currency HAI on HECO, and HKR is the governance token of the HaykerDAO protocol.

HaykerDAO is a platform that pledges encrypted assets to generate 1:1 USD-pegged HAI, a safe and reliable lending protocol, and a decentralized stablecoin tool that everyone can use. [2021/4/28 21:07:17]

The general perception of the current market may be misunderstood

The value acceptance range of game props and collectibles is relatively small, and the circulation frequency is low. It may be influenced by CryptoKitties and the movie "Ready Player One". Regardless of Sandbox, Enjin or Decentraland, including the recent projects such as dego and MEME, they all exert their efforts in the field of games and try to make the props in the virtual world Turn into value assets for trading. But the problem is that compared with the 3A masterpieces we usually play, these blockchain games are really not fun, so the vitality of the game will be low, there will be few players, and the acceptance range of the value of props will be greatly limited. At the same time, art collections also have this kind of problem. Some exquisite pictures claim to be unique, so is the difficulty worth so much money? Don't you know that Crypto Kitties was called a rare "value cat" at the beginning, and it was just a silly game of gambling. It can be seen from the historical transaction volume that only CryptoKitties at the beginning of 2018 and Decentraland at the end of the year caused a certain degree of explosive growth, but this growth is more biased towards short-lived "tulip speculation" from the data chart.

Data source: 2020/10/14

The game and collectibles market currently lacks value targets and hype models, which is a bit too "Buddhist". There are many NFT assets on the old Opensea and the new trading platform Rarible, including domain names, artworks and even YInsurance insurance policies. It all takes hype. And we see more display and exchange functions on the two platforms. From the perspective of the top 5 projects in terms of historical transaction volume, only Decentraland's transaction volume is gradually approaching the CryptoKitties project two years ago, but it is also far behind in terms of transaction frequency. The data proves that these NFT assets have not yet been hyped.

Data source: 2020/10/14 Drawing: Cointelegraph Chinese

The problems of supply chain and traceability cannot be solved by NFT, and we cannot fully hope for technological breakthroughs to change business difficulties. Many people believe that for B-side services, NFT also has important meanings such as supply chain management and traceability. Because supply chain management can achieve business efficiency based on the management of homogeneous certificates. In theory, technical solutions are indeed feasible, but the problem is that behind their application, there are more practical problems to be solved. For example, the identification system of the industrial Internet can also trace the origin of commodities, but the problem that has been difficult to promote is that there are few scenarios in the business that require traceability and insufficient value. The supply chain involves the infrastructure construction of each link in the chain, and it is not something that can be accomplished overnight.

When will the NFT market explode?

When the market finds the best breakthrough direction, it is the day when the NFT market explodes. We mentioned above that games and artworks have the characteristics of low transaction frequency, low market activity, and high value recognition threshold, and commercial implementation such as traceability is even more problematic in practice. Therefore, we can see that the current market has not yet found a truly explosive NFT application scenario.

Blockchain is still more suitable to play value in the financial field, and NFT applications will surely take this opportunity. We see that in traditional finance, in addition to financial assets in the form of equity and currency, there are also many financial and commercial papers that are traded in the market, such as bonds, options and insurance. As for the latter, each bill is different and needs to carry more information during circulation. This is the problem that NFT can solve. At present, there is still a lack of real correspondence in the world of blockchain finance. Although some decentralized options and insurance projects have come out, they are boring due to the lack of market awareness and transaction infrastructure, especially the pricing mechanism. We must know that as far as digital assets are concerned, speculation is still the first demand of users in the market, and compared with game props and financial assets, which one is more likely to generate large-scale bubbles?


Bitcoin rose this year or benefited from the Fed's loose monetary policy.

Recently, the payment giant PayPal announced that it allows customers to use the company's wallet to buy, sell and hold Bitcoin and other cryptocurrencies.

AAX Academy takes you through an article to understand the popular DeFi project WBTC

Wrapped Bitcoin (WBTC) is an ERC20 token created to integrate Bitcoin with DeFi. The token acts as a stablecoin for Bitcoin.

After OK suspends withdrawals, where will the three major exchanges go?

It has been four days since OKEx suspended the withdrawal, and the shock caused by the incident is still fermenting.According to the latest report from the Securities Times, Xu Mingming, the actual controller of OKEx.

NFT is emerging, but how far is it from the public?

NFT has followed the trend of DeFi, but it still has a lot of time to go out of the circle. There may be certain misunderstandings and limitations in the market segments currently being explored.What exactly is the NF.

5 must-reads in the evening | Blockchain and Bitcoin in the eyes of the richest man Jack Ma

1. Blockchain and Bitcoin in the eyes of the richest man Jack MaFrom October 23rd to 25th, 2020.

Blockchain and Bitcoin in the eyes of the richest man Jack Ma

From October 23rd to 25th, 2020, the second Bund Financial Summit with the theme of "Crisis and Opportunity: New Finance and New Economy under the New Pattern" was held in Shanghai. Jack Ma attended and delivered a sp.

The IMF calls for faster cross-border payment reforms.What role will digital currencies play?

Global central bank digital currency research and development is in full swing.On October 19, local time.