Another outlet? Is the NFT bought for millions of dollars on OpenSea valuable?

After the domestic ban on currency speculation, the incomprehensible NFT was fired again. What exactly is NFT? Why suddenly become a “net celebrity”? Is it a hype or an outlet?

What is NFT?

The full name of NFT is “non-homogeneous token”, which is a kind of digital asset, but it is not the same as the digital currency such as Bitcoin that we often say .

It has a unique digital project with blockchain management ownership, including: collectibles, game projects, digital art, event tickets, domain names, and even ownership records of physical assets. The specific description is that NFT is like an independent shop, all customized products are unique.

Another outlet? Is the NFT bought for millions of dollars on OpenSea valuable?

Why is NFT suddenly hot?

It is mainly because of the recent series of “sky-price transactions” events that have pushed NFT into the public eye.

The founder of Twitter auctioned his first tweet (only 5 words ) published in 2006 through the NFT , and the final transaction price was US$2.9 million, equivalent to RMB 18.87 million .

Another outlet? Is the NFT bought for millions of dollars on OpenSea valuable?

dunk video of star James was sold for more than $200,000, worth more than one million yuan .

Another outlet? Is the NFT bought for millions of dollars on OpenSea valuable?

On August 22, Justin Sun said on Twitter that he had spent $500,000 to buy a “JPG stone” .

Another outlet? Is the NFT bought for millions of dollars on OpenSea valuable?

These virtual stones are the NFT project launched by EtherRock in December 2017. There are a total of 100 NFTs, and each NFT is a picture of a stone.

Another outlet? Is the NFT bought for millions of dollars on OpenSea valuable?

A tweet sells for millions of dollars, a stone sells for millions of dollars… Do you think that jpg images bought for millions of dollars are hype or the next trend in the blockchain?

In addition, the hot market of NFT has attracted many international big names to participate in it. So far, the market size of the NFT market has exceeded 23 billion U.S. dollars.

In China, big companies such as Alibaba, Tencent , and NetEase have also taken actions.

  • NFT payment code skin jointly launched by Alipay and Dunhuang Fine Arts Research Institute.
  • “NARAKAHERO” series of NFT blind boxes released under the IP authorization of NetEase’s game “Forever Tribulation”.
  • Tencent released the first domestic NFT trading software “Magic Core APP”.

Another outlet? Is the NFT bought for millions of dollars on OpenSea valuable?

The threshold for creating NFT is very low!

On the exchange OpenSea , users can directly create NFTs on the platform for free, without paying any fees, and creators can sell for income.

This low threshold for making NFTs undoubtedly gives some speculators and scammers another opportunity to take advantage of the loopholes!

A virtual stone of others can be sold for millions of dollars. Since there is so much money, why don’t I also sell a few broken stones? This is not true. Many imitation discs have appeared: imitation disc rocks, paper, scissors…

Another outlet? Is the NFT bought for millions of dollars on OpenSea valuable?

It is this kind of hype and enthusiasm that made OpenSea the world’s largest and largest NFT market. At the same time, various imitations and fraudulent projects are rampant .

Recently, we have observed some WeChat groups, and the number of groups established under the name of NFT is also increasing. There are many other kinds of “airdrops” to attract people into the game!

Another outlet? Is the NFT bought for millions of dollars on OpenSea valuable?

In the current currency circle, it is really not an ordinary investor HOLD who lives. It is also Metaverse and NFT. How many do you really understand? I’m really worried for those who enter the group.

While the NFT became popular and “out of the circle”, it also attracted a large number of speculators who came to get rich, making it full of speculation and bubbles .

At present, most countries have not given a clear legal status to virtual assets, including NFTs, and there are still many uncertainties in future supervision . Once there is a global regulatory tightening, NFTs will undoubtedly be hit hard.

Everyone, keep your eyes open!

 

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/another-outlet-is-the-nft-bought-for-millions-of-dollars-on-opensea-valuable/
Coinyuppie is an open information publishing platform, all information provided is not related to the views and positions of coinyuppie, and does not constitute any investment and financial advice. Users are expected to carefully screen and prevent risks.

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