NFT a shining pearl

To better understand the meaning of non-homogenous assets, simply consider most of the assets you own.

NFT, or Non-Homogenized Token, is a blockchain item that has blockchain management rights and is unique. Examples include collections, gaming items, digital art, event tickets, domain names, or even records of ownership of physical assets. To better understand the meaning of non-homogenized assets, just consider most of the assets you own.

NFT a shining pearl
  1. Preface
    The emergence of the Internet has ushered in the rapid development of human society, disrupting the way information is produced and delivered and changing the direction of civilization’s evolution. But in the decades since this singularity, mankind has been obsessed with tinkering with the foundation of the Internet. New protocol standards, programming languages, technical hardware, network devices, and other minor innovations have made people tired of exploring the next revolution that will sweep through civilization, and it has been a long time since we have seen a new revolution that rivals the birth of the Internet.

Twelve years ago, the birth of Bitcoin and blockchain allowed people to own their own assets for the first time, making it possible to transfer value without borders. If the Internet is the infrastructure of the information civilization era, blockchain is an exploration of the future value society, allowing human civilization to shift from the transfer of information and content to the interaction of assets and value, opening a new upward path for the evolution of civilization. On the eve of the change in the blockchain era, we have seen the emergence of many native on-chain assets and evidence of the madness of DeFi, a financial system independent of the real world. But now we still can’t reach the integration of the two worlds on and off the chain, assets and values can only be circulated in a closed loop in a mutually independent system, the key to solve this problem lies in the assets on the chain, and I think the best asset carrier is NFT.

In the past NFT market, people tend to limit their attention to its scarcity application, which is the biggest misunderstanding of NFT, entirely from the confinement of thinking brought about by the wrapping of empiricism, and view the development process of blockchain and NFT with the law of real society.

Every evolution of human civilization is not only the evolution of technology, but also the evolution of ideas. In this paper, we will try to lift the seal of ideas and expand the imagination of NFT in the crypto world by using the “NFT structure”.

  1. Transmission of value
    2.1 Delivery of Content
    Once upon a time, carriages and horses were far away, letters were slow, and a lifetime was only enough to love one person.

Nowadays, technology advances, information is borderless, and communication across time zones has become commonplace. The Internet has become the immediate need of our basic society, and the transmission of network information has become a necessary component of communication. The logic of Internet information dissemination lies in the conversion of traditional different types of information into machine-readable 0/1 binary data through technical means, and then reaching information interconnection through data transmission between networks.

With the continuous development of technology, the Internet has also evolved, with wired networks from ADSL dial-up to LAN broadband to optical fiber, mobile communications going through five changes, and physical hardware performance advancing by leaps and bounds as Moore’s Law takes effect repeatedly, the innovation of the Internet at the technical level has brought about the development of content delivery, reflected in two dimensions: content form and ideology.

Enrichment of content forms

The development of digital content is a process of expanding the amount of information that can be carried. From the early digitalization of text to pictures, audio and video, the Internet can carry and transmit content in a variety of forms, and the functionality and services derived from it are increasingly penetrating into daily life.

Change of Consciousness

In the Web 1.0 era, the Internet only served as an information sharing platform, and the generation and consumption of content was often a 1-to-n relationship, with discourse groups and early Internet enterprises controlling the role of content producers, and Internet users as consumers only passively receiving information from the Internet. This stage is equivalent to the functional reproduction of traditional books, newspapers and other information carriers by the Internet, without giving new connotations by the characteristics of the Internet.

In the Web 2.0 era, the Internet shifted from “information sharing” to “information co-construction”, and the power of Internet users in the Internet was upgraded from “read-only” to “write”, resulting in the concepts of UGC and PGC, which were equivalent to the ideological decentralization of the subject and discourse of the Internet to individual users, with each person playing the dual role of content consumer and producer. This brought about an explosion of Internet content, triggering the demise of portals with PV, UV and other parameters as assessment indicators, and the birth of community-based Internet platforms with user quality as their core competitiveness. From BBS and Blog, which were prevalent in the early PC Internet, to Youtube, Facebook, Twitter, Quora and other content-producing communities in the mobile Internet today, they are all products of the Web 2.0 era.

In summary, we can say that the development of the Internet = the development of digital content, the Internet has brought disruption to the heritage of human civilization in the past decades, but this point also sets the shackles for the future of the Internet, after all, its application has never been free from the content (information) delivery, and one of the important propositions of the Web 3.0 era – the Internet of value -The Internet of value is still a barrier between them. In other words, although the binary data and information delivered by the Internet can generate value, the Internet cannot carry the value itself.

So where does value come from?

In the real world, the best embodiment of value is assets, property, stocks, bonds, copyrights are all assets, these assets and the Internet are not really intertwined, there is no “real asset” on the Internet. For a simple example, UserA passes his property license to UserB through the Internet, but UserB can only get a picture, and there is no transfer of property value.

To cope with the development dilemma of value Internet, the simplest idea is to transfer assets to the parallel world of Internet and reach the efficient transfer of real assets in the network, which can be understood as “assets on the Internet”, but this idea obviously does not hold due to the difficulty of asset identification and other problems. At this time, the addition of blockchain technology may be able to bring some new ideas for the transfer of assets.

2.2 Passing of assets
Native on-chain assets

Definition of native on-chain assets: assets that originate from the blockchain world, decoupled from real assets and completely decentralized. For example, BTC, ETH. but centralized stable coins such as USDT are not included in this category.

Real-world assets need the protection of legal provisions, purchase and sale contracts, and regulatory agencies. Similarly, legal loopholes, contract forgery, and institutional malpractice can make your assets evaporate or change ownership instantly. Native on-chain assets do not need to consider this problem. The decentralized blockchain network can make the ownership and disposal of these assets vest with you in perpetuity, and there is no possibility of any third party forcibly taking away the assets.

Two stages of on-chain asset delivery

In terms of the development path of on-chain asset delivery, there are two stages.

Digital assetization: that is, the embodiment of the asset properties of the native on-chain assets. For example, the current BTC and ETH, which have their own asset attributes, are mainly reflected in transferring and trading in the early stage of development, and subsequently, with the development of DeFi, a wider range of financial activity scenarios such as lending and finance are realized. The current stage we are in is the period of digital assetization, and the push of DeFi in each track is to build an on-chain financial system independent of the real society, in which the native on-chain assets can reach the internal circulation of value. However, this relatively closed development method is obviously not enough to shake the foundation of traditional financial system, and the only $400 billion market value of crypto market is the highest ceiling of its future development.

Digitization of assets: i.e., the circulation of real assets on the chain. This is a highly imaginative stage. If all the assets containing value attributes in reality can be reflected on the chain and can circulate freely like the assets on the native chain, then it is equivalent to the total amount of human economy being transferred directly to the blockchain. Although this idea seems shocking today, it is perfectly possible to be realized under the development trend of blockchain – especially the development direction of NFT. Everything on the chain may become the new singularity of human civilization after the birth of the Internet in 1969.

We can also see in the blockchain industry now that there are already some DeFi projects that smell the change and are exploring the real assets on the chain. It is believed that in the near future, there will be more and more such projects, and the boundary between the real world and the crypto world will gradually blur until it dissipates.

On-chain Governance

The significance of digitizing and chaining assets is to move the valuable assets in the real world to the chain, so as to realize the actual use scenarios such as the authorization, payment and circulation of real assets on the chain. However, there is still a mountain range on the way to this beautiful vision – how to conduct asset valuation, now the crypto world and the real world are completely isolated, and a “prophecy machine” is needed to transmit the trusted information under the chain to the chain as a bridge between the two. But we have not yet found a truly reliable prophecy machine that can provide this service. If the assets or information on the chain is itself fake, then the chain will be meaningless and the spam information will not be transformed into valid information by being on the chain.

On this issue, the prevailing view is to let the centralized regulator assume the role of a prophecy machine, which evaluates and certifies the assets for authorization and then uploads them to the chain. This seems to be a ‘perfect solution’ to combine reality and on-chain, but the biggest bug in it is the regulator who plays the role of ‘black box’.

For example, one of the culprits of the 2008 subprime mortgage crisis was the three major rating agencies, Moody’s, Standard & Poor’s and Fitch, who took money from banks and packaged C-rated bonds and A-rated bonds together into B+ rated asset packages. How can this lesson from history be guaranteed not to be repeated in the chain? Who will regulate the regulators? Who will regulate humanity?

The centralized approach to capital verification is using traditional empiricism to deal with this new thing called blockchain, in which centralized institutions assume a decisive role, making asset on-chain itself a false proposition.

On the contrary, the crypto world built by native on-chain assets, due to the rendering of decentralized ideology, DeFi tends to be more inclined to the emergence of collective wisdom, decentralizing the governance power to the participants through the form of governance tokens, and then executing governance decisions through smart contracts to achieve the purpose of decentralized governance. This seemingly egalitarian and democratic design is not foolproof, a few capital giants can still rely on a large amount of capital investment to easily occupy most of the governance tokens and monopolize the right to govern, the real world’s Matthew effect and Pareto’s Law will again take effect on the chain, and many DeFi projects are now within sight, cloaked in the new decentralized financial order, driving the reverse of traditional finance.

We can only hope that the giants who hold a large number of governance tokens can provide fair and correct decisions for the development of the project, and their will represents the movement of the crypto world, just like the centralized real world where a few people are in power. At this stage, people only have the blockchain technology, they don’t really have the ‘blockchain mindset’. Code is Law is the past tense, only Law is Code is the organizational evolution. The advantage of human is not intelligence but “collective wisdom”. In fact, they are not, they are all products of our imagination. The phantom and real bubbles are not separated from each other from the moment our intelligence is born, only imagination is the core competitiveness.

Therefore, when we think about the logic of the blockchain world, we may have to be dialectical and refer to the reality, the existence of the world on the chain does not necessarily need to compromise with reality. Maybe it’s not blockchain going to humans, but humans going to blockchain. Sometimes a big change can smash the original old world. What really needs to be changed is the pedantic financial system of the past, and we should not get the wrong direction.

The products of the chain world are very different from the original our experience, it should have its own way to go, not the summary of past our financial experience, the old world financial system is originally broken.

NFT a shining pearl
  1. The use and definition of NFT
    NFT, or Non-fungible Token, is the relative concept of Fungible Token (FT). The biggest difference between the two is “unique” and “divisible”, which makes NFT more suitable for benchmarking real-world assets – after all, the evolution of civilization has led to differentiated descriptions of everything, and even a mass-produced consumer product can differ in terms of production date and spray code.

Existing views tend to portray the NFT market as a separate track that plays on its scarcity, with crypto artifacts and game cards as the primary means of value output. This is actually a very strange phenomenon, just like no one would consider FT as a standalone market.

The reason for this misleading statement is that empiricism has limited the imagination of the whole industry. from the brief high light in 2017 to the sluggish development in recent years, many people have lost their way because of CryptoKitties’ once hot explosion, forcing NFT to bind with art, cards and scarcity in their mindset, without realizing that this is only a very small part of the NFT application scenario. A small part.

The future application of NFT should be very broad, its existence richly refines the breadth and depth of Token use, its rise should be silent, all categories can be related to it, after all, NFT and FT is reciprocal and complementary relationship. NFT should be a much larger category concept than FT, just as real-world non-standard transactions are much larger than standard transactions.

The rise of DeFi in 2020 pushed NFT into the limelight again, and DeFi+NFT provided a back-to-basics education for the market and made many people start to rethink a more valuable future for NFT. Especially DEGO, it is the core idea of “structure description” is invoked, so that we can see the long-standing veil of “collectibles” shrouded in the shadow of NFT is returning to its original appearance.

3.1 NFT structure description
A leaf

The value of NFT does not lie in rarity, but in the description of the structure.

The following is a case study of how structure descriptions can give new ideas to NFT, using a leaf as a case study.

There are no two identical leaves in the world, and every leaf we pick up off the ground is a special being. If I own a leaf, and I think it has beautiful and unique veins, and I think it is worth $2,000, and you recognize this value and are willing to buy it, then it is worth $2,000, which comes from our “consensus”. If you think it is worth only $1, then our consensus does not match and either I sell it at a reduced price or wait for someone with a consensus of $2,000 value to show up and buy it away.

This is an example of the application of NFT scarcity, and it is this crude layer of ‘abstract consensus’ that crypto artwork now often relies on to hype prices. While there are undeniably a few crypto artworks with unique artistic appeal, most are simply boondoggles, where the player’s intent to buy is limited to finding a taker who is willing to pay a higher price.

If we convert this leaf into a ‘structure’ that wraps the asset and add more properties beyond the ‘abstract consensus’ of rarity, then the description of this structure might be

  1. Picture: leaf
  2. name: mulberry leaf
  3. face value: 10000USDT+500ETH
  4. category: synthetic asset
  5. Grade: A. If we disregard the scarcity and utility premiums brought by 0, 1, 4, then the reasonable price of this leaf is its ‘face value’. If we consider the first two attributes, then its value will be greater than the “actual face value”. In other words, this leaf has both a guaranteed value from the base face value and a consensus value with a premium. The “universal certainty” from the face value and its own “rarity” allow it to be priced rationally within a controlled range.

If this leaf is an on-chain NFT asset, then the structure description can make its value connotation richer. The first application would be a structure wrapped around the FT crypto asset, for example, using BTC and ETH to cast the NFT to form an asset package, that would be the real-world equivalent of an index fund wrapped around multiple stocks. If this NFT is then given a functional value (e.g. DeFi mining) or tied to a painting, then it is worth more than the face value of the FTs spent on the minting.

The best example of this in the real world is the Chinese characteristic of “school district housing”, where a house of the same size and floor may have a different school district due to a street difference, making the price sky-high. The area and floor are the guaranteed “face value”, and the location and school district attributes are the “consensus value” that triggers the premium.

NFT Blind Box

NFT a shining pearl

Blind box, a large part of the purchase is “blind”, a small part of the purchase is only “box”.

Many people compare blind boxes to hand-me-downs and models, although they are similar in nature. But buying a blind box is not just to get the cute doll inside, the greater pleasure lies in the moment of opening the box and peeking inside the doll is not the one you want.

As we all know, the value of the item is not only determined by its cost, but also depends on its rarity. Each series of blind boxes are so popular one or two models, and the number of relatively rare, coupled with some of the deliberate hype, these models sold alone will often be more expensive than the original price of 50%! Not to mention that each series will also have extremely rare “mystery models”, which will be sold at even more exaggerated prices.

CryptoKitties in 2017 can be called the originator of NFT, CryptoKitties drawback is only in the intrinsic value, its scarcity is fully guaranteed by the decentralized consensus algorithm, show a picture of a kitten, and then say it is one in 10,000, one in 100,000 probability of generating a rare cat, then it is really so much probability that no one can falsification; to say that it cannot be copied is really impossible to copy – the standard of ERC721 is also open, and there is no trouble of falsification.

Even the founder of the game has no way to violate the laws of the algorithm and secretly generate countless rare cats to arbitrage. But traditional blind boxes like this are produced centrally by one enterprise, and the so-called “rarity” is entirely guaranteed by the enterprise’s reputation. Suppose the price of rare blind boxes reaches 10,000 times or even 100,000 times, then the producers of blind boxes expect that there will be no better market and the bubble will burst soon, then they can obviously easily manufacture rare blind boxes in large quantities in their workshops and then sell them on the market Arbitrage.

For example, the scarcity of CryptoKitties is a simulated natural scarcity, just like a stone in the soil or a fish in the water, and after the development team sets the probability, it becomes a smart contract on the ethereum chain, and the development team cannot easily modify it; while the scarcity of blind boxes is an artificially created scarcity, just like a person who deliberately pinches a bowl-sized water pipe into a fingertip thin, and then little by little pour water to sell money, and say they will always be so fair pinch, not to anyone secretly release water.

What would be the effect of introducing structural body design for NFT?

2020 DEGO, Aavegotchi in the past CryptoKitties based on the intrinsic value given, both to retain the scarcity, but also to solve the problem of use scenarios, especially DEGO rational use of “structured body thinking”, organized an unprecedented “shovel pumping” activities.

Players need to complete the officially designated tasks during the event, and after completing the tasks, they can cast a free NFT shovel wrapped with a random number of DEGO. These NFTs have structural properties, and the number of wrapped Tokens determines the “base denomination”, and also the “grade” determines the mining efficiency of the NFT shovel, which can be used as an additional value for premiums.

Due to the difference in random “denomination” and “rank”, this activity also becomes a NFT “blind box drawing”, with higher denomination NFTs theoretically having higher base pricing and premium space, players will be driven by curiosity and speculation to keep drawing blind boxes, and invariably become creators and contributors to building the NFT world. And these NFT will not be devalued because of the large number of outputs, and these low-grade shovels in the later stages also have more use scenarios, such as “casting” “synthesis” “forging” and so on.

After the introduction of the “structure thinking”, the value of DEGO NFT is not only “scarcity”, but also let NFT from the untouchable air tower down to more practical application scenarios.

3.2 Application Scenarios of NFT Structures
nToken proof of interest

cToken is a Compound V2 live interest-bearing Token and a credential for users to deposit assets in Compound. cTokens were initially used by Compound to simplify the user experience of lending and borrowing interest in the on-chain lending market.

Prior to the launch of cTokens, lenders needed to lock their funds in a pool in order to earn interest. As a result, funds locked in the lending marketplace could not be used until after they were unlocked, and the amount of funds credited to the lending pool was reduced when they were removed. With the introduction of cTokens, this side effect is avoided because the funds that exist on the Compound platform will circulate on the open market as cTokens, without affecting the funds locked in the platform and therefore without reducing the amount of funds available to the borrower.

If we replace the FTs commonly found in DeFi with NFTs, i.e. collateralized NFTs for lending, finance or liquidity mining, a cToken-like proof of interest (tentatively named nToken) can also be generated with the casting of NFTs, which has similar advantages to cTokens in that when NFT assets are in a certain protocol, the user does not need to unlock them and can take the nToken to other protocols to obtain more revenue, or directly to trade, corresponding to the real world, similar to UserA mortgage in the bank house directly transferred to the bondholder to UserB name.

Of course, nToken can also use more imagination to explore the possibility of more applications of its own beyond cToken. For example, since nToken is generated with NFT casting, is it possible to combine multiple nTokens together to form a new asset portfolio to capture more value?

Shaping a differentiated value distribution system

In Compound, through factors such as the number and time of cToken held by users, we (or smart contracts) can judge their participation, contribution and understanding of the product from the side, but FT can hold limited dynamic information, if cToken is presented in the form of NFT “structure”, then more dimensional data can be added, and smart contracts can The smart contract can use this as a basis for judgment to assign differentiated revenue factors and governance weights to different users.

Similarly, NFT can also carry out a reshaping of the LP Token for the AMM class DEX, taking Uniswap as an example, the return of the liquidity provider is only related to the number of funds invested in this one dimension, whether it is an old player or a new player, whether it is a faithful believer or a speculator, everyone is equal before the rules. This apparent equality will instead increase the monopoly effect of elevated capital and invariably harm the interests of the real contributors. If LP Token is presented in the form of NFT, adding a time dimension and calculating additional weights based on the duration of liquidity provided by the user, similar to the age of the coin in PoS, it will allow players harboring consensus to receive the higher bounty they deserve, and platform governance tokens will be distributed more often to players with governance capabilities.

The mining arithmetic partitioning and speculation penalty mechanism currently used by DEGO is the initial exploration on the differentiated value distribution system. If the subsequent DeFi can present multiple factors involving user revenue and power such as arithmetic, LP Token, and governance rights in the form of NFT, then the governance system of the entire DeFi world will see a drastic change, and the situation where capital rules everything will be completely replaced by consensus.

Introducing the Bond Pool Concept

Although NFT is Non-fungible Token, but in fact the contract can set the “NFT standard” outside the “NFT framework”, assuming that under the same “NFT framework”, this framework can become a “pool”, NFT collateral into “bonds” to generate FT, NFT can be traded in bulk like FT, then for the long-term plague of NFT The liquidity problem that has long plagued NFT can be solved.

For example, all kinds of consumer goods in the real world are NFT, such as iPhone, the same iPhone 12, the same color, size, memory and even the same Foxconn, but the IMEI of each phone is different, they are like ** of ***. Here if there is a “NFT framework” that specifies some important parameters and minor parameters, then it is possible to buy iPhone 12 in bulk at once.

Expandability of GameFi assets

GameFi is gamified finance, the future DeFi monetary policy may be more gamified, the user’s assets will become DeFi game use equipment.

We can get some inspiration from the existing blockchain games using NFT. There are often different types of assets in games, such as game characters, character accessories, weapons, weapon accessories, pets, etc. These assets can be mapped to different “classification” assets on the contract, which can lead to more segmented game scenarios, for example, a threshold can be set in the game, and one must hold assets “classified” as “character 1” and “pet 1”. For example, a threshold can be set in the game, so that players with “Role 1” and “Pet 1” can enter a specified copy.

On top of this, it is also feasible to introduce “GameFi thinking” more deeply into the real-world financial market, where such classification is possible.

In the real world, banks will classify various types of assets, for example, there are various “classifications” in the ABS scenario. Asset securitization is divided into categories such as real estate securitization, accounts receivable securitization, credit asset securitization, future income securitization, bond portfolio securitization, etc. Banks will make various reasonable allocations based on different asset classes and different risk exposures. We can divide different types of securities into different “classifications”, just like the “equipment” system in GameFi. Banks write rigid access or redemption clauses in the contract in advance, and with the help of smart contracts, they can allow all participants to allocate freely in a fair and open scenario.

3.3 Future scenarios for the use of NFT
Separation of ownership and usage rights

NFT, as a structure, has more application attributes than FT because of the composite nature of carrying value. If the prophecy machine scheme is mature enough, it will be possible to realize the on-chain NFTization of assets subsequently, then the application boundary of NFT will be expanded again, and the application scenarios of real-world commodities, real estate and other assets will have the opportunity to be transferred to the chain, such as property leasing, commodity trial, precious metal pawn, etc. These applications are different from peer-to-peer asset transactions, during which no transfer of ownership is involved, but rather a limited right of use is granted to other users.

Tracing the development of civilization over thousands of years of history, mankind has established a relatively complete legal system under the chain. In the part about civil property rights, we establish this through a black and white contract, which divides the ownership and use rights of assets.

Smart contracts, i.e., restoring the law in code without human intervention, we can integrate the contract directly into NFT, giving rise to a whole new path of regulation. Balancing justice, efficiency and fairness to achieve the rule of code.

There are already NFT standards that claim to support the separation of ownership and usage, but they often lack the parameter of “time” as a dimension, that is, the owner of NFT cannot specify the time of usage when granting usage rights to other users, and this problem makes the separation of ownership and usage a mere concept, for example, the BCX-BCX launched by Cocos-BCX for blockchain games NHAS-1808 NFT standard.

NFT Pawn

Pawning in the real world refers to obtaining certain funds by pledging valuable assets, delivering the principal and interest to recover the assets before maturity, and if the principal and interest cannot be delivered in time, the assets will be owned by the pawnshop. This logic applied to the crypto world is similar to over-collateralized lending, but the difference is that lending is an interaction between an individual and the platform’s pool of funds, while pawning can be a peer-to-peer transaction. When UserA initiates a pawn request, the smart contract transfers the right to use the NFT to the pawnshop or to UserB, the individual user receiving the pawn business. UserA receives a certain amount of money based on the value of the assets wrapped in the NFT, and if UserA fails to deliver the principal and interest when due, ownership of the NFT is transferred to the pawnshop or to UserB.

NFT Leasing

Leasing is extremely common in the real world, such as the traditional rental business, as well as shared bicycles, rechargeable batteries, electronic devices, etc. arising from the sharing economy. Here we take renting a house as an example, UserA has an idle property and generates an NFT wrapped in the property through up-chaining, and sets the property’s location, rent, lease and other related information in the NFT through a smart contract. When UserB wants to rent the property, he needs to pay deposit and rent to UserA to get the right to use the NFT of the property. If the rent is not paid during the period, UserB’s right to use the property will be recovered, and if the rent is paid normally, UserB’s right to use the property will be recovered when the lease expires and the deposit will be returned.

  1. The leap from information society to value society
    The application of the Internet has changed the way of information transmission and civilization transmission. People’s communication, content production, knowledge acquisition and idea dissemination have all been incorporated into binary codes, resulting in the modern information society with a big data explosion today.

The emergence of blockchain has shown us more possibilities for value generation and transmission. We have witnessed the digital assetization of a bitcoin from nothing to something, and are exploring the vision of digital assets from zero to infinite value. We have witnessed a digital asset from nothing to something, and are exploring the vision of digitizing assets from zero to infinite value. This is based on the evolution of ideas generated by technological advancement, which allows us to stop settling for the solid and boring social, economic and financial systems of today, and look up to the deeper stars from the anchor point of “NFT+”.

This change of assets and value will not only be the evolution of information interconnection to value interconnection, but also the promotion of the overall chain of human society with the support of blockchain, and the leap from the centralized information society to the decentralized value society. Assets and values will no longer be restricted by law or rule of man in a narrow territory or frontier, but will be absolutely privatized and circulate freely on the basis of no boundary, and create a higher dimensional human civilization by the governance of collective wisdom.

With the introduction of structural descriptions in NFT, we are not far from this future. Perhaps after the centennial of the Internet, we will be able to break through the barriers on and off the chain and realize a large range of assets on the chain, and the value on the chain will occupy most of the total human economy. At that time, the clamping of centralized institutions for civilization will be significantly weakened, society will embrace blockchain, and human beings will go to a new world.

Posted by:CoinYuppie,Reprinted with attribution to:
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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