Ethereum is still the king of NFT ecology

Last year DeFi ecology Ethernet Square when the outbreak of the ecology of the general process is the first outbreak in the ether Square, then gradually spill from the square to the other Ethernet block chain, such as wave field, EOS, the BSC, HECO, Polygon and so on. However, the DeFi ecosystem on TRON and EOS has not developed as much attention as expected. Instead, BSC, HECO, Polygon, etc., which are fully compatible with the Ethereum virtual machine, have successfully taken over the Ethereum because of their technology. Dividends spilled from the DeFi ecosystem.

And now when the NFT ecology of Ethereum has exploded, we seem to have seen a similar situation happening again: other public chains have begun to imitate Ethereum to develop their own NFT ecology. Among these public chains, Solana currently attracts the most attention.

The development of the NFT ecology on Solana is very simple and straightforward, which is to copy the well-known projects in the Ethereum ecology directly. Square has an Ethernet encryption punk , the Solana had “SolPunks”; there are bored ape on Ethernet Square, there is “Degenerate Ape” on Solana ……

It is worth noting that the Degenerate Ape project did not go smoothly during the release process, but it could not stop the enthusiasm of users, and everyone still entered the market frantically to buy. This shows how hot the NFT market is.

I believe that in the future, more well-known NFT projects on Ethereum will be moved to Solana.

Due to the outbreak of the NFT project on Solana, its currency price has also gone out of a skyrocketing trend: from $23.49 on July 20th all the way up to $65.81 as of the time of writing. A rise of about twice a month.

This also reminds me of the explosion of BNB last year: Thanks to the launch of BSC, Binance Smart Chain vigorously develops its own DeFi ecosystem, which subsequently directly increased the price of BNB.

Will Solana repeat the BSC counterattack in the DeFi field in the NFT field? We can only wait and see.

Are the projects in the NFT ecosystem on Solana worth participating? I think there is a speculative element in the short-term, and it is more cautious in the long-term.

The NFT ecology is the same as the DeFi ecology. It cannot only rely on the outbreak of a single project, but also requires the assistance and coordination of other surrounding ecology to maximize its intrinsic value and release its intrinsic potential.

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Let’s take a simple example: in Ethereum, the top-tier NFT avatar project not only produces its own NFT avatar, but also works closely with other NFT projects in Ethereum. For example, they buy land in Decentraland and Sandbox to build their own activity centers, and cooperate with Decentraland and Sandbox to create props that can be used in various virtual scenes for holders of these avatars.

Therefore, what the user gets is not only a picture, but a voucher to enjoy follow-up benefits. These follow-up benefits include virtual goods and virtual services. The use of these virtual items and virtual services requires the support of corresponding scene projects. These scene projects (such as Decentraland, Sandbox) are all established and mature infrastructures in Ethereum. Without the supporting support of these scene items, these props and services cannot be used, and these props and services cannot be used, so there is really only one picture left in the voucher to enjoy the benefits.

Therefore, the development of NFT ecology is also a symbiotic and co-prosperous ecology.

The current NFT project in the Solana ecosystem obviously does not have this feature. These projects are fragmented, unrelated, and without interaction with each other, so their long-term value may be very limited.

In fact, not only Solana’s NFT ecology has this problem, but other public chain NFT ecology also has this problem, and the solution of this problem is by no means an overnight task, it requires long-term deliberation and development.

This is why I always think that Ethereum is the king of public chains, and it is difficult for other public chains to catch up with it fundamentally: Ethereum has built an invisible ecological threshold. This ecological threshold seems inconspicuous, but every When a new ecology develops, its synergy can quickly play a role on Ethereum, allowing the ecology to grow rapidly and form a scale effect.

When it comes to investing in these NFT projects specifically, I will still only participate in projects in the Ethereum ecosystem, and I will only watch other projects in the public chain.

 

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/ethereum-is-still-the-king-of-nft-ecology/
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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