Cheap NFT collections are highly sought after, Internet manufacturers are exploring suitable paths

On October 14th, AntChain Fandian launched a trendy series of NFT digital collections, which were sold in limited quantities and were popular in the market. The series of NFT works are divided into three types. Based on the fashion brand QEE bear dolls, three digital collections with different styles, “Phoenix Flying”, “Magic to Success”, and “Wings Like a Tiger” are created. Each is limited to 10,000 copies at a unit price of 19.90 yuan. After sales have been exhausted.

A similar situation also appeared on Tencent’s NFT trading platform “Huanhe”, and the recently launched NFT digital collection-the collection “Kanhuajing” Digital Ethnic Illustrated Book was sold out early.

Nowadays, NFT has become the “top-tier” in the digital art market. Porsche, McDonald’s, and Douyin International are all testing NFT works recently, and “NFT for everything” is moving towards reality. At the same time, excessive hype of NFT works has become a chronic disease in the development of the industry, and governance and regulation are urgently needed. In order to prevent commercial hype of NFT works, domestic Internet companies are exploring a path that is more suitable for them.

NFT lowers the threshold of  collection, digital collections are popular

At 12 o’clock noon on October 14, “QEE Digital Collection-Phoenix Yu Fei” was the first to go on sale, and 10,000 copies of the works were immediately robbed.

The reporter also fought hard to grab a copy and became a member of the digital collection of NFT works. On the collection interface, the work is a 3D animated picture of a bear doll with phoenix elements on the body, which can be zoomed in and out to enjoy the work in three-dimensional form.

The collection interface shows that the certification time of this work is October 14th at 12:00:16, and the number is 4880. In other words, more than 4,800 copies were sold out in 16 seconds, which shows the enthusiasm of the IP collectors. In addition, the work is also marked with information such as the collector, creator, and the hash value of the chain.

The platform prompts to stay away from irrational hype and prevent fraud risks. The copyright of the digital collection is owned by the issuer or creator of the original work, and users are not allowed to use the digital collection for any commercial purposes unless otherwise obtained the written consent of the copyright owner.

Currently, NFT is lowering the funding threshold for art collections. The reporter found that since the beginning of this year, major Internet companies such as Alibaba and Tencent have successively launched a number of NFT works. Take Alibaba as an example. Since June, AntChain has sold more than 10 NFT works such as payment code skins and digital collections, with prices ranging from 9.9 yuan to 39 yuan. The price of NFT works sold by Tencent is more than one hundred yuan.

It is worth noting that, in order to avoid the risk of NFT speculation, Internet companies have not opened up trading of such digital collections. However, there is still much speculation offline. The reporter noticed that before, a user had auctioned the NFT digital collection of the “Asian Games Torch” at the Ali auction, and the price soared to more than 3 million yuan. The original price of this piece is only 39 yuan.

Subsequently, AntChain and Ali Auction jointly removed the suspected online fraud transaction. It is understood that the relevant bidding disposal information released by the user is accompanied by a detailed map of the digital torch collection, which confuses the difference between the digital collection and the physical torch, misleading the buyer and suspected of fraud. The platform has removed the corresponding illegal products and handled the users accordingly.

At the same time, AntChain also issued a “Three Don’ts” statement on digital collections to remind consumers of risks: resolutely oppose all forms of digital collection hype, and resolutely resist any form of illegal activities related to virtual currency in the name of digital collections. Resolutely resist any form of malicious speculation of digital collection commodity prices, and use technical means to ensure that commodity prices reflect reasonable market demand; resolutely resist any form of illegal transactions such as equity transactions and standardized contract transactions in digital collections, and oppose digital collection financial products change.

NFT’s promotion of copyright protection  market is still to be regulated

At present, there are indeed institutions in the NFT market that are packaging NFT works into financial products and hyping their value. These NFT trading platforms use pricing and auction methods to sell NFT works. Some platforms and merchants jointly speculate to raise prices. After several rounds of auctions, the final transaction price of an NFT work is often several to several tens of times higher than the starting price. The industry generally believes that this kind of speculation not only causes investors to suffer financial losses, but also has a negative impact on the development of the industry, which urgently needs to be regulated.

“Compared with physical commodities, financial products have higher virtual attributes and price volatility, which is also the main factor that requires stronger market supervision for financial products.” Beijing Jingshi Law Firm Gao Peijie told a reporter from the Securities Daily. Emerging assets can often attract more market attention in the initial stage, resulting in a market premium, but as other new assets continue to emerge, funds will tend to newer products and markets, and NFT products will also have the same risks in the future. It is recommended that investors diversify risks and invest rationally in the process of blockchain investment.

“Different from some organizations that overemphasize the financial attributes of NFTs, domestic Internet companies pay more attention to humanistic attributes, and the two have obviously different development logics for NFTs.” A blockchain industry insider told reporters that taking Ali as an example, AntChain Fandian cooperates with leading IP to do public welfare, revitalize traditional culture, and do national comics. It mainly revolves around the value of IP itself. It does not have “financial attributes” but “humanistic attributes”. It is a “digital collector”. Role.

“From the perspective of digital collections issued by AntChain, national comics, museum collections, public interest paintings, digital torches, etc., behind each work is the value of the IP itself.” Chen Yongwei, director of the research department of “Comparative”, said that this treatment The attitude of NFT is worth learning. Only by adopting such a low-key and pragmatic attitude can the long-term development of NFT be guaranteed; and blindly hyping and bluffing will only ruin the future of NFT.

From the perspective of the industry as a whole, NFT is accelerating the extension of the boundaries of art collection from the physical world to the digital world. “NFT works based on blockchain technology form a unique mapping relationship with corresponding artworks in reality. Each NFT work has a unique serial number on the chain, which serves as the only certificate of rights for NFT works on the blockchain.” Yu Weiren, vice president of the Shenzhen Information Service Industry Blockchain Association, told reporters that, in other words, each NFT work is a single digital copy of the work, and the owner of the NFT work has the corresponding digital ownership. This also plays a positive role in the intellectual property and content innovation of creators.

Regarding the development of NFT in the future, Chen Xiaohua, an expert in the review of major industrial Internet blockchain projects of the Ministry of Industry and Information Technology and chairman of the China Mobile Communications Federation’s Blockchain Professional Committee, told reporters: “At this stage, blockchain storage, authentication and smart contracts are also needed. The authorization and performance mechanism of copyright, improve the laws and regulations of copyright NFT to protect the legitimate rights and interests of copyright owners, and at the same time regulate the copyright abuse of creators themselves.”

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