Starting in the second half of 2020, NFT was once regarded as the next industry explosion point of relay defi. Not surprisingly, NFT sold $160000 for a pair of socks with uniswap at the beginning of 2021, and the founder of twitter sold $2.5 million for five words. The encryption artist beeple won $9.75 million in Christie’s NFT auction works, and the ultra-high transaction volume quickly came out of the circle. In March 2021, the total transaction volume of the encryption art platform has exceeded US $200 million, a record high.
According to Google data, NFT related search volume has now exceeded that of defi and Polkadot, and reached its peak at the end of February. This also attracted a wave of strong attention from outsiders and tried to join the queue of this emerging product “NFT”. Soulja boy, a famous American rapper with 5 million fans on twitter, released his own NFT; Mark Cuban, the boss of Dallas lone ranger, an NBA championship team, released the NFT; Superstar Kevin Durant forwarded NFT games on social media; Football giants Barcelona, AC Milan and other top clubs also have their own NFT.
NFT + luxury, minority rise
Due to its natural cooperation with the field of encrypted art and collectible games, NFT has attracted traditional enterprises such as time magazine, Gucci and playboy. Luxury related enterprises explore NFT, so that the word NFT is no longer limited to coin circle media. The addition of fashion industry makes NFT more “fashionable”.
“Luxury brands have long realized that they have lagged behind in the rise of the previous e-commerce trend, so now people are more willing to try new technologies such as blockchain than ever before. The question is who will pull the trigger first,” said Marjorie Hernandez, founder of lukso, a blockchain platform cooperating with fashion brands. For those who support fashion to get involved in blockchain, NFT is the number one They said that the scarcity of NFTs and the ability to accumulate value can make digital fashion closer to real fashion.
Capital entry, NFT becoming more international
At present, NFT has accounted for more than 14% of the total use of eth. With the increasing number of participants and transaction scale, various NFT platforms or projects are increasingly favored by capital. For example, the NFT trading platform opensea received $23 million from the top Internet venture capital a16z, and the NFT development team dapper labs received $305 million from Jordan and Durant.
Recently, the biggest heat in the encryption market is the listing of coinbase. As a watershed for digital assets to enter the mainstream capital allocation, the listing of coinbase undoubtedly boils the capital market again. This also provides more choices for the future market trend. Recently, Alesia Haas, chief financial officer of coinbase, publicly said that coinbase is exploring NFT as a potential new business line. NFT is very suitable for the platform, and these tokens can provide a new source of transaction costs for the company.
Traditional + emerging auction, NFT ice breaking
Among them, those who can’t ignore and push NFT to the climax are the entrants from the mainstream art circle – world-famous art auction houses Christie’s and Sotheby’s.
On the evening of March 11, Christie’s auctioned pure digital works of art in the form of NFT for the first time. Beeple’s every day: the first 5000 days sold at a sky high price of US $69.346 million, about 450 million yuan, breaking the record of the highest auction price of NFT works.
Sotheby’s also held a crypto art auction from April 12 to 14. The digital work cube by encryption artist Pak was finally sold for us $16.8 million.
However, this is only the beginning for the whole NFT market. The new collection of digital art redefines our understanding of value.
NFT play method is upgraded, and the diversification trend is obvious
Life is like chocolate. You never know what you’re going to get. Before unpacking, no one can be sure which one is hidden in the box. The answer is revealed only at the moment of opening.
Because of both artistry and exploration, the blind box has attracted the attention of many people and become one of the new collections. In the digital money market, a kind of blind box economy has gradually emerged – mystity box created by cross innovation, which combines the current popular NFT with blind box, and leads a new wave of blind box trend based on the psychology of investment and innovation.
Different from the general auction, cross adopts the gametheory playing method, which uses the form of “blind auction + transfer auction” to maximize the NFT circulation and value, and superimposes the equivalent reward of 0.5btc on the basis of its own NFT auction.
One: blind shooting. No one knows that the other party’s bid is based on the evaluation of the value of the NFT itself, avoiding a part of the market bubble. Second: turn the beat. When players get NFT and don’t open the blind box, they still maintain a sense of mystery. They transfer NFT + blind box for auction, which imperceptibly increases the liquidity of NFT and further stimulates the sales and value of NFT
Cross, a platform that supports global artists to participate in NFT creation and regularly hold NFT blind box activities, has just launched the fire coin ecological chain heco for three months, and has created more than 250000 access addresses, with more than 10000 auctions in a single day. According to cross data, the cumulative bid for the fourth phase of blind box activity was nearly US $170000 within 5 hours, and the transaction volume of a single activity exceeded RMB 1 million.
By adopting the new mechanism of “gametheory + blind box”, buyers can obtain unique works of art, and the fun experience of removing the blind box is difficult to be accurately measured and estimated. NFT blind box has a huge potential market and value.
NFT + lending, future market direction
According to nonfungible’s statistics, NFT’s initial sales fell by 42.43% in the last week, and the total second-hand sales were much higher than the initial sales. Although the current NFT market is huge, compared with legal assets, equity and other types of assets, the liquidity of the art and collectibles market needs to be improved, which is also a difficult problem perplexing the development of NFT.
In order to solve the market pain point, cross has started to design and develop NFT lending services. All NFTs that have successfully auctioned through cross can borrow CVT pass through mortgage. If NFT is a securitized digital IP, the trading market plays a similar role as a bank. Cross provides NFT lending services and can track transaction data at any time when digital assets are produced, traded and lent; Solve the liquidity problem for NFT by virtue of the liquidity of lending, and potentially empower NFT to expand the proportion of NFT market.
Similarly, NFT can capitalize virtual goods that could not be realized before, which is also an indirect expansion point for cross’s future development. So. Cross will be greeted by a more than 10 billion level of defi + NFT market.
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