Can digital collections still “fire” when the bubbles dissipate?

Looking back at the past July, the domestic digital Tibetan market was “surging”.

Among them, on July 8, the news that Tencent’s “Magic Core” digital Tibetan platform was shut down exploded the number of Tibetan circles as soon as it came out.

The news of the shutdown of the “phantom core” is not groundless. Due to the strengthening of domestic supervision and tightening of policies, many Tibetan platforms have been shut down one after another. On July 1, Tencent News, which is related to the “Magic Core” business, suspended the sale of digital collections due to “business model adjustment and transformation”, and the most recent digital collection sale of “Magic Core” also stayed in July. On the 8th, the Chinese imprint of Lang Shining: “The Branches from the Bird’s Nest” digital special exhibition.

It is worth noting that at present, the Magic Core app can still be used normally, but there are only digital impression experience activities. As for whether the “Magic Core” will be shut down or upgraded and adjusted, we have to wait for Tencent’s official response.

What is “cool” is not digital collections, but “speculative hype”

As a new product, digital collections have attracted widespread attention when they first appeared, and then it only took about a year to show an astonishing speed of development.

On July 6, the “Digital Collection Application Reference” edited by the Blockchain Copyright Application Center of the Comprehensive Key Laboratory of Science and Technology and Standards of the State Press and Publication Administration was released.

According to the data of “Digital Collection Application Reference”, there are more than 700 digital collection platforms in China, and major manufacturers such as Ant, JD.com, and Baidu have also deployed digital collections.

At the same time as the popularity, a series of problems also appeared, and the phenomenon of hype frequently appeared in the market. In this regard, all sectors of the industry have put forward proposals to standardize the development of the industry. The Self-discipline Development Initiative for the Digital Collection Industry and the Reference for the Application of Digital Collections have been released one after another, and they have pointed out that it is necessary to reject the secondary transaction of digital collections and resist speculation.

Today, as the heat of the hype plummets, the price of domestic digital collections has dropped dramatically, and the value of digital collections in the hands of users has shrunk seriously, and even selling them has become a problem, which also makes many users choose to withdraw from the market.

Can digital collections still "fire" when the bubbles dissipate?

Source: Network

Hype winds plummet, but digital collectibles are still on the rise

However, on the other side of the major digital collection platforms headed by “Magic Core”, which have shut down or even chose to shut down, what we see is the enthusiasm of major state-owned enterprises and institutions to enter the digital collection. According to the observation of iNFTnews, since July, there have been many traditional official media, state-owned enterprises, public institutions, etc., to lay out digital collections.

On July 12, the Sports Culture Development Center of the General Administration of Sports of China and China Sports Industry Group signed a cooperation agreement in Beijing to jointly explore the field of sports digital collections. The China Sports Museum and the China Sports Museum will launch three digital collections of the “Double Olympic Road” series. The item numbered 001 in the first three digital collections will become the permanent collection of the China Sports Museum.

On July 15, at the 11th Suzhou Cultural Expo, the limited-edition digital collection of nuclear sculptures “Suzhou Garden” and “Eighteen Arhat Heads” by Suzhou High-tech Culture and Tourism Group were sold online and offline in multiple scenes. This is the first digital collection of intangible cultural heritage Suzhou nuclear carvings.

On July 19, the launch ceremony of the digital collection of Fuzhou city image logo and the launch of the “Gewu Chain Collection” platform was held in Xindian Ancient City Ruins Park. The “Blessed State” Fuzhou city image logo was officially put on the chain and became a digital collection. It is worth mentioning that this is the first digital collection of city signs in the country.

On July 20, the Wenchang International Space City Administration introduced that at the time of the launch of the “Ask the Sky” experimental module, the digital collection of “Eighteen Arhat Heads” by Sishu Zero, Wenchang Tourism, Culture, Radio, Film and Sports Bureau, and Wenchang International Space City Administration , Hainan Tongguling Scenic Spot jointly launched four limited commemorative editions of “Ask the Sky Series” digital collections, namely “My Asking the Sky”, “Ask the Sky Dream Circle”, “Bronze Drum Asking the Sky” and “Dream and Asking the Sky” to commemorate The shocking moment of the “Ask the Sky” space launch.

On July 21, the Shandong Provincial Bureau of Big Data announced that it will jointly launch the first government digital collection “Shu Zai” with “Seal Data Collection” and complete the airdrop debut.According to the “14th Five-Year Plan” plan for a strong digital province, from this year onwards, Shandong will hold an annual campaign for the promotion of a strong digital province.

On July 22, Shanghai Changning released the “Xunwei Xianxia” digital platform. “Xunwei Xianxia” is a decentralized PaaS+ private domain service platform, with the front-end WeChat applet and the back-end supply chain and the underlying member management system as the infrastructure Support, help companies deploy their own points system at zero cost, and will target the consumption poverty alleviation platform and the nft digital collection platform in the future.

On July 24, according to the official public account of Beijing Xicheng District Culture and Tourism Bureau “Cultural Xicheng”, Xicheng District will launch digital collections, blind boxes, etc. A series of popular cultural and creative products.

In addition, on August 1, the official digital collection service platform of Dahe News·Yu Video “Dahe Shuzang” was officially launched, and the new brand IP image “Xiaoyumi” was also officially released, which started the August First shot.

According to incomplete statistics from iNFTnews, as of July, there were at least a dozen official or semi-official organizations such as state-owned enterprises and institutions that announced the issuance or launch of digital collections, not to mention other listed companies that have been actively deploying the Metaverse and technology company.

Can digital collections still "fire" when the bubbles dissipate?

Source: Network

According to the data released on July 6 by the “Digital Collection Application Reference” co-edited by the Blockchain Copyright Application Center of the National Press and Publication Administration’s Comprehensive Key Laboratory of Technology and Standards, as of now, there are 7 digital collection platforms with the background of the central media in China. , there are more than 20 digital platforms with state-owned background, and as many as 25 digital platforms with listed company background.

Policy blessing, the future of digital collections can be expected

On July 8, the Shanghai Municipal Government officially released the “Shanghai Action Plan for Cultivating the “Metaverse” New Track (2022-2025)”. The plan proposes to cultivate more than 10 innovative leading companies with international competitiveness. And “chain-owner enterprises”, to create more than 100 “specialized, special and new” enterprises that master core technology, high-level and high-growth. Strive to reach 350 billion yuan in the scale of “Metaverse” in 2025, driving the city’s software and information service industry to exceed 1.5 trillion yuan, and the electronic information manufacturing industry to exceed 550 billion yuan.

Since then, on July 12, the General Office of the Shanghai Municipal People’s Government issued the “14th Five-Year Plan for the Development of Shanghai’s Digital Economy”. The plan pointed out that leading enterprises should be supported to explore the construction of NFT trading platforms, and to study and promote the digitization of NFT and other assets, digital IP Global circulation, digital rights protection and other related formats will be piloted in Shanghai. In the development of new digital infrastructure, it is proposed to develop a blockchain business model, focus on the development of blockchain open source platforms, NFT and other business models, and accelerate the exploration of digital transformation and digital technology applications in the fields of virtual digital assets, artworks, intellectual property, games, etc. .

As an important platform for future interaction between virtual world and reality, the Metaverse has great potential. As an application of NFT technology, digital collections are also one of the important entrances to the Metaverse and an important part of promoting the development of the Metaverse digital economy.

Shanghai’s leading position of support has taken an important step in the guidance of the government. It is foreseeable that Shanghai’s statement will effectively promote the digital transformation of NFTs and other business formats including intellectual property, artwork and games. The supply of digital economic content and digital consumption will be more abundant, stimulating greater vitality of users and the market.

write at the end

From the perspective of data and market sentiment, compared with the boom at the beginning of the year, the digital collection market has undoubtedly entered a “cooling-off period”. Whether it’s the intentional or unintentional shutdown of the “Tencent” magic core, or the “rotten” platforms of major digital collections, these messages seem to be sending a signal to users that the digital collection market is dying.

But are digital collections really dead?

the answer is negative. Whether it is from the entry of traditional official media, state-owned enterprises or the favorable attitude of the government, the popularity of digital collections continues, and the NFT technology behind it is being widely accepted and used.

The bubble caused by the barbaric growth in the early stage of the industry is worrying, but when the bubble dissipates and the market gradually returns to rationality, perhaps digital collections and NFT technology can reflect its true value.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/can-digital-collections-still-fire-when-the-bubbles-dissipate/
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