NFT’s Song of Ice and Fire: Avatars, Encrypted Art and Platforms

Crypto is out of the circle in 2021.

And this time the process of going out of the circle was beyond everyone’s expectations, not because of Bitcoin, not because of DeFi, but because of NFT. This field that almost no one cares about has become hot in an instant, standing in the spotlight, from the encryption field to the mainstream field, all walks of life are exploring what NFT is and what we can do with NFT.

Speaking of NFT, many people think that this “track” is experiencing a big explosion at this moment. In fact, NFT should not be collectively referred to as a track. NFT is a very broad field, which contains different categories such as art, fashion, games, finance, etc. Each category has different gameplay and market conditions. . It’s just that before this year, the NFT was too niche, and people would call these categories collectively the “NFT track.”

The joys and sorrows of NFT are not connected

“The summer of 2021 belongs to the NFT.” The NFT community is very lively.

Some people are ecstatic about Bored Ape’s upcoming arrival at Christie’s. Some people marvel that the price of their penguin avatars has increased tenfold in one day. Some people lament that they cannot make money at the rate of CryptoPunks’s price increase. Some people show off these NFT avatars to make their own assets. It grows rapidly like a snowball.

Encrypted artists open their homepages, their works are still uninterested, and their mailboxes are still very deserted.

“I have participated in a lot of exhibitions recently, but the sales have not been as good as before. Maybe it’s because collectors are playing avatars, or maybe more artists come in.” Larry is an encryption artist and got an offer from a big factory. Later , he chose to suspend his studies and devote himself to the field of NFT. His Mega ETH series of artworks have been well received on encrypted art platforms such as Foundation and TopBidder. However, recent business seems to have been deserted a lot.

This is not just an individual case.

At present, the largest NFT trading platform OpenSea ’s monthly transaction volume has repeatedly hit new highs. As of press time, OpenSea’s August transaction volume exceeded US$2 billion, which is about 7 times the entire month’s transaction volume in July. The single-day transaction volume on August 24 was even higher. It is as high as 209 million US dollars.

NFT's Song of Ice and Fire: Avatars, Encrypted Art and Platforms

On the other hand, in the field of crypto art, when the overall NFT market continues to rise and the transaction volume repeatedly breaks historical records, crypto art is in trouble. The monthly transaction volume continues to decline after a cliff-like decline. Although there is a trend of recovery in August, compared with The overall market for NFT soared vigorously, which seemed insignificant.

NFT's Song of Ice and Fire: Avatars, Encrypted Art and Platforms

In stark contrast to the situation of the artists, those teams that produced a large number of NFTs for avatars, for mass production and generation, they gave up on the artistic elegance, the usual way is to draw a basic template, and then create some simple Through the program, the elements are randomly matched to the template, and thousands of “avatars” are quickly generated at a very low cost. Even if the primary market is sold at a very low price, you can make a lot of money, not to mention the secondary market. Hype will also allow them to make more money in the form of royalties.

Ludong once wrote ” How much money did those teams that sell NFT avatars make?” 》Inventory of several popular NFT avatar projects, how much money has been made by selling NFT avatars. Among them, production teams such as Bored Ape and Cool Cats have earned millions of dollars, and even more have sold a set of NFT collections.

The founding team of Fame Lady Squad is a “NFT wholesaler”. Before launching the Fame Lady Squad series, the team had anonymously sold NFT collections such as Neural Pepe, Crypto Unicorn, NFT Idols, and NFT Hustlers. Before being exposed, the team also planned to sell M-Planet and Unicorn GG. Club and other projects. The difference between the NFT collectibles project and the DeFi project is that the team does not have to do long-term operations after the sale, which also provides this type of “wholesaler” team with an opportunity to make quick money. The extremely low cost of creation and extremely high returns have made them millionaires.

Although the true identity of the team was subsequently picked up, and the price of the NFT project produced plummeted all the way to almost zero, the victims will always be the user instead of the project party.

“Now the head is a new bubble, a bit like the currency circle zoo at the beginning of the year.” Larry said.

It is undeniable that NFT avatars such as CryptoPunks and Bored Ape have formed a consensus in the community. Through the operation of a responsible production team and the participation of various celebrities, it has become social capital from an ordinary jpg picture, but absolutely Most NFTs are just empty shells dressed in a coat of “may also become social capital.”

Some people will say that “no matter how small a consensus is, it is also a consensus.” But in fact, most of the “small consensus” is just the buyer’s self-comfort and the illusion that “it will eventually be solved”.

Perhaps because of this, many people realize that “jpg+NFT” is sometimes not equal to “encrypted art”. These avatar NFTs are just a “collectible”.

“Overseas there are often all kinds of strange collection exhibitions, such as bottle caps, packaging, etc. This kind of collection desire can actually be said to be human instinct. Regardless of whether these NFT avatars have artistic value, I think they In fact, they can all be called collectibles.” Niq is a young encryption artist. He is now studying design at a 985 college in China. Not long ago, he failed to secure research because he wrote about NFT in the plan.

NFT's Song of Ice and Fire: Avatars, Encrypted Art and Platforms

Niq is also creating his own collection series “LuckyCot”, and every time he sells an NFT, he will donate to charitable organizations to help stray animals. Although, like Larry, he believed that the current NFT market is no different from the “coin circle zoo” at that time, he also wanted to postpone the release of the “Lucky Anchor” series of NFTs, but due to its high quality and community support, it was released. Although it was accompanied by a lot of bad words, it still received more praise, attention and respect.

NFT's Song of Ice and Fire: Avatars, Encrypted Art and Platforms

However, Niq also tweeted that he feels that what he is doing now is more like “crafts”, and he is called a “designer” instead of being called an “artist”.

NFT's Song of Ice and Fire: Avatars, Encrypted Art and Platforms

Similarly, Larry is also preparing the CyberGen series of collections. The voxel artist bkvoxel who has settled in the top encrypted art platform is also creating the “Atomic Planet” series. Although they are all creating the same series of collections, they are not The common NFT series on the market are different. They still uphold the spirit of an artist, hoping to attract collectors with quality and content instead of hype.

Some artists have begun to try to create collections, and some artists are still insisting on more artistic creations, but it is undeniable that the current NFT environment seems to be hot, but it does not have a greater impact on the artists , The works of top artists are still very popular, but 99% of the works of the artists are still in a state of unsalable sales.

NFT is fanatical, but encryption art is sluggish.

The encryption art platform blows out. Which red and blue pill should I choose ?

Interestingly, when crypto artists were in trouble, when crypto art became depressed again, many crypto art platforms were born, especially in China, the blowout of crypto art platforms seems to show people’s understanding of the future development of the crypto art market Optimism.

Indeed, the current number of crypto artists is far greater than the number of collectors. The entire crypto art market is in the buyer’s market. In theory, the birth of the platform can provide artists with more exposure opportunities, and at the same time, more platforms may bring more to the crypto market. Many collectors.

Having said that, the reality is much more cruel.

“We started preparations in March. It was the hottest time for crypto art. I didn’t expect that the crypto art market would have cooled down after our platform was ready for the official launch.” The person in charge of a domestic crypto art platform told Rhythm. The rapid cooling of the art market was unexpected to everyone.

In fact, it can be seen from the data. As mentioned above, the encrypted art market has been declining since March, and the platforms that entered the market in the hottest March are confidently preparing for it, and wait until it goes online. Later, it was discovered that the former “gold mine” had become a mess. More importantly, there were too many gold diggers who came to dig the treasure.

“By the end of the year, there may be 1,000 encrypted art platforms in China.” The person in charge of an encrypted art platform made a prediction on the development of China’s encrypted art market this year in a roundtable meeting. In the future, competition in China’s encrypted art market will inevitably enter a fierce stage. Like the problems faced by all platforms, a serious problem faced by encrypted art platforms is whether they will be chosen by artists.

“The choice of platform is definitely to choose a platform with good quality and high liquidity. I will continue to apply for SuperRare .” Larry’s ideas are the same as most crypto artists. In their eyes, SuperRare is the top of the pyramid and is the most desirable. Those who apply for it are also the most out of reach at the moment.

The quality of works on the platform is guaranteed because of the strict review of SuperRare. Because the quality of works on the platform is guaranteed, collectors are more willing to select works in SuperRare. Because collectors are more willing to select works in SuperRare, the fluidity of works on SuperRare is better. , Because the works on SuperRare are more fluid, so crypto artists are more willing to apply for this platform.

In short, the level of artist, the number of platform collectors, and the mobility are complementary. In addition, platforms like SuperRare have gained a firm foothold. The foothold of the new platform has been further compressed, and the “head effect” of encrypted artists is also It began to appear on the encrypted art platform. Many newly launched encrypted art platforms may only become the waist, bottom, or even part of the pyramid. Encryption art eliminates national boundaries. “China has no” no longer means a blue ocean. China’s new platform has to face competition from the world since its birth. It is difficult for the small fish to retreat from the shark’s mouth.

“Compared with foreign countries, China is three full years late. We wanted to fill this gap, but I didn’t expect that so many people would be doing crypto art platforms.” CryptoC founder Tang Han told Rhythm that the CryptoC community was at the beginning Committed to the popularization and promotion of NFT and encryption art, in March decided to build an encrypted art platform, and then, the trend of encryption art gallery was born.

The involution of traditional industries has made many people choose to explore this uncharted territory. Many of the newly born encrypted art platforms are launched by practitioners in traditional industries, such as Internet companies, traditional art galleries, etc. It may be because of the difficulties of traditional industries that they choose to come to the encryption field to try whether they can be in this “emerging industry” Zhongda made a fortune, but they didn’t expect that this market would still make them difficult.

Feng Chao had already predicted this scenario. Tang Han told Rhythm that she hoped that Feng Chao could become a small and sophisticated “Chinese medicine shop”. It would be enough for another group of users to get “effective prescriptions” instead of making one. “Tier-A hospitals” serve everyone.

In addition, it is difficult to say that every platform has a vision to promote the development of the industry and chooses to be an encrypted art platform. FOMO emotions are unavoidable in every field, but before FOMO, every practitioner has a need for DYOR, and doing research can return to rational emotions. Some platform parties may have seen OpenSea’s single-day transaction volume of hundreds of millions of dollars, but have not seen OpenSea’s transaction volume in the first full month of only hundreds of dollars; some platforms have seen the recent hot NFT avatars, so I made a series and wanted to collide head-on with the OG project, but I didn’t know that 99% of the avatar projects were already uninterested.

In addition to the fact that many project parties that FOMO enters the platform as a platform may be overwhelmed by their own investment, they will also hinder the development of the industry. The purchase of crypto art was originally small, but now it is facing a situation where there are more wolves and less meat. Some platforms that went online early and developed steadily will have no income and no attention because of this. They are even more difficult to move and work seriously. Instead, they became victims in the FOMO emotional upsurge.

Encrypted art is sluggish, but the establishment of an encrypted art platform is fanatical.

Where is the road?

Does it mean that there is really no way out for an encrypted art platform now?

“At this stage, platform dividends are already relatively small. Most platforms have gone through the stage of deep binding with artists. Now platforms tend to treat every artist fairly. Without platform dividends, artists will value it more. The tone of the entire platform and the community will depend on what the artists and collectors on the platform are doing and what they are talking about. I will choose a platform that is similar to my tone and also more recognized by me.”

In Niq’s view, the unique tonality and differentiation of the platform will be a sharp edge. Just like Async Art, although it was born later than SuperRare and other platforms, it has gained a firm foothold with the unique “programmable art”, has attracted a group of loyal users, has developed steadily, and gradually enters the world.

“The recently intensively born encrypted art platform will differentiate into the upstream, midstream and downstream of the NFT industry in the future. Each will find its own position and promote the prosperity of the industry ecology.” Tang Han remains optimistic about the future development as a practitioner She hopes that China can run some projects ahead of the world in the field of NFT. Unlike public chains and DeFi, NFT is more like a war between culture and civilization, and China should not be at a disadvantage in this battle.

It is true that there are a large number of projects in the market today that only want to “make quick money” without thinking about how to promote the development of the industry, but Tang Han believes that time will give the answer. In the long run, projects that do not work seriously will eventually Be eliminated.

In addition, Tang Han also expressed some concerns about the current development of China’s NFT industry.

“Chinese NFT entrepreneurs have been plagiarizing and have never been ahead.” Recently, many people have consulted CryptoC about the sale of “10,000 Avatar NFT”. Some Chinese entrepreneurs also thought after seeing the explosion of “Portrait NFT” To try this direction, there are many crypto art platforms that are already well-known in China, but in the view of CryptoC, this is not a good choice. Chinese entrepreneurs should not only repeat the path taken by others, but also innovate. , To promote the development of the NFT industry in China, because as mentioned above, NFT is a war between culture and civilization.

Nowadays, NFT has also received more and more attention in China. This is a good thing, but more attention is often accompanied by more misunderstandings. As practitioners, we need to do a good job of research to understand the development of the industry. The unreasonable events in the process provide guidance so that more people can correctly recognize NFT and encryption art, so as to choose the most correct path and the most appropriate method, and promote the entire industry to move in the right direction.


Posted by:CoinYuppie,Reprinted with attribution to:
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