Spend 1 million to buy WeChat avatars in Metaverse, what are the pictures of young people this year?

How many people are fantasizing about buying NFTs and getting rich overnight?

Spend 1 million to buy WeChat avatars in Metaverse, what are the pictures of young people this year?

In the past two years, the Metaverse has been hot. 

Some people build buildings in the virtual world, and some people spend 1 million just to buy a cartoon avatar.

As early as 2021, NBA star Curry spent 55 ethers (about 1.06 million yuan) to buy a blue monkey NFT avatar. “Asian King” Jay Chou’s previous ins bear avatar is priced at 0.26 ether (about 6,200 RMB).

Spend 1 million to buy WeChat avatars in Metaverse, what are the pictures of young people this year?

Image source: Jay Chou ins

There are a lot of free pictures on the Internet. Does it make sense for celebrities to buy avatars for a lot of money?

In fact, the avatar purchased by Jay Chou is the most popular NFT digital collection at the moment. Even if it is a mediocre cartoon avatar, there are still people begging to buy it at a million-dollar price.

What is the popular NFT digital collection?

What is an NFT digital collection?

Assume that if you have a 100-yuan bill and your friend has a 100-yuan bill, then the two of you exchange it with each other, and each has the same value.

However, if your 100-yuan bill happens to have Jay Chou’s autograph on it, then it is no longer an ordinary 100-yuan bill.

You can get dozens or even hundreds of times the income from collectors with it. In this case, the one-hundred-yuan bill with a signature is an NFT, that is, a non-fungible token (Non Fungible Token).

In the virtual world, copying a photo, a video or even a paragraph is almost cost-free. But in the Metaverse, people need to distinguish who owns the copyright to this information.

Especially for artworks created by online artists, people can copy and paste at will in the virtual world. In this case, by time stamping these artworks and distributing the creation information, it is possible to distinguish who is the original work and who is the reproduction work to a certain extent.

This is not enough. In order to ensure that the information marks that have been marked are not tampered with, blockchain technology is required.

Because this technology has the characteristics of immutability, high transparency and traceability. Therefore, museum collections and works of art supported by blockchain technology are called NFT digital collections, and only art collections supported by blockchain technology can have “rare” value in the network.

Spend 1 million to buy WeChat avatars in Metaverse, what are the pictures of young people this year?

Image source: unsplash

For example, although everyone can reproduce the “Mona Lisa” in high definition, the real original Mona Lisa has a unique stamp on it, so the original Mona Lisa is collectible.

Speaking of this, some people may think that NFT digital collections are far from ordinary people’s lives, but in fact, it is not that difficult to obtain.

According to the “National Museum Digital Collections and Cultural Creativity NFT (Cultural and Creative) Issue Monthly Report” released by the museum’s headlines, more than 50 cultural and cultural institutions have released digital collections in April. Many of these collections are available on platforms such as Whale Scouting, Magic Nucleus, UTONMOS, and Shuzang China.

Spend 1 million to buy WeChat avatars in Metaverse, what are the pictures of young people this year?

Image source: Whale scout app

Alipay also cooperated with museums to launch a series of national treasure NFT digital collections well-known to the Chinese during the Spring Festival in 2022. Users only need to collect five blessings, and have the opportunity to participate in the exchange of collections, including the treasure of Hubei Provincial Museum Town Hall “Goujian Sword of Yue King”, “Fuhao Owl Zun” of Henan Museum, “Four Sheep Bronze Square Zun” of National Museum, etc.

From this point of view, ordinary people only need to spend a small amount of cost to have a digital collection of NFT that is exclusive to them online, and turn on their mobile phones to play carefully at any time.

In that case, are digital collections worth buying?

Digital collectibles, a trap or a pie?

Although digital collections can be copied and used by everyone in the virtual world, the most important thing is that they can add value.

NFT digital collections can often be resold to higher bidders. So even a free gift, in the past, was almost impossible to happen.

So, how can ordinary people determine the true value of NFT collectibles?

First, look at the issuer of this item. A digital collection is a special commodity, it has no entity, so authoritative issuers can ensure the number of its distribution, and thus can reasonably control the circulation in the market. Just like Nike’s limited-edition sneakers, people are willing to spend a lot of money to buy shoes, precisely because the official is always limited to the attributes.

For example, the digital artwork “Everydays: The First 5000 Days”, which has been favored by the 256-year-old British art and luxury auction house Christie’s, will hit 69.34 million (approximately) in 2021. 450 million yuan) the sky-high price of US dollars.

Spend 1 million to buy WeChat avatars in Metaverse, what are the pictures of young people this year?

Image source: ins

The painting, which took 13 years to create continuously by Mike Winkelman (aka Beeple), itself contains 5,000 of the creator’s works, and exists only online. Christie’s valued its rarity and gave it a high valuation, and it did indeed auction off a lot of money in the end. But if Christie’s hadn’t admitted it, it probably wouldn’t have fetched sky-high prices.

Second, is the particularity of this digital collection itself. For example, this number #3100 is called the NFT avatar of CryptoPunk. Since it was only issued one and attracted the attention of some collectors, in August 2021, 35,000 ethers (about 6.1 ETH at that time) were listed. billions of RMB). However, this price is only for listing items, and the actual transaction price is subject to the actual situation.

Spend 1 million to buy WeChat avatars in Metaverse, what are the pictures of young people this year?

Image credit: CryptoPunk

Speaking of which, many people may have already saved the idea of ​​making a fortune. But don’t worry, NFT digital collections are back on fire, and there are many problems.

On the one hand, the hype value of digital collections may be greater than the collection value. If you blindly follow the trend of investment, it is easy to be harvested as leeks. On overseas platforms, the digital currency of NFT digital collections used for trading is inherently unstable in price. It increases by 30% today, and it may retreat by 50% tomorrow. The game is heartbeat.

In the country, there is still a problem of fraud. For example, on the domestic digital trading platform iBox, the price of a product purchased for 50 yuan in early May may increase tenfold the next day. Such huge profits have attracted many users to buy.

However, on May 15, the collections on the ibox platform suddenly plummeted by 85%, almost the end of the investment of 1 million to 150,000. The only people who lost were the bottoms. Many netizens called it an online telecommunication fraud.

On the other hand, NFT digital collections have the potential to be lost. Due to the untraceable nature of the blockchain, once your NFT digital collection is stolen by a hacker, it is difficult to find it back through methods such as calling the police.

Earlier, Jay Chou posted a message saying that his NFT collection was stolen. Although someone discovered this NFT through data tracking, it has been sold and profited by hackers. Even if Jay Chou called the police, he could not trace it back to the hacker through the network, so he had to admit that he was unlucky.

Spend 1 million to buy WeChat avatars in Metaverse, what are the pictures of young people this year?

Image source: Jay Chou ins

However, compared with overseas chaos, China is currently more cautious in the issuance and trading of NFT digital collections. Most of the digital collections are issued by well-known museums and official IPs with certain authority.

Moreover, NTF is priced and sold in RMB in China, and will not use cryptocurrencies, and the platform currently does not allow secondary resale of collections after purchase.

If you just buy it back as your own collection and play, then the digital collections launched by these museums do have a certain ornamental value. Because there is no way to trade, it will not be easily stolen by hackers.

Where is the future of NFT technology?

Although the boom in the Metaverse era is accompanied by many bubbles, the NFT technology in it has real value.

As Cathie Wood, founder of Silicon Valley investor ARK Invest, said: “Using blockchain and NFTs can solve problems that could not be solved in the past, which is very good for artists and other fields.”

For example, through NFT to record identity proof. Due to its unique, traceable, and unchangeable characteristics, it can be used to make people’s birth certificates, driver’s licenses, academic certificates, etc., so as to avoid information tampering or abuse, and solve the problem of fraud to a certain extent.

In addition, after the launch of NFT digital collections, related museums have also attracted people’s attention again,allowing people to have a deeper understanding of the cultural industry.

When consumers snap up limited NFT collections out of curiosity and watch them on their mobile phones, they are likely to have a more intuitive understanding of the superb craftsmanship in ancient China, and even browse many other national treasures through the official website of the National Museum.

At a time when it is increasingly difficult for people to truly enter the real world and view museum collections up close, the true value of the digital world is once again reflected.

Although there is a feeling of “seeking plum to quench thirst”, it seems to be a good thing whether it is to find friends to visit the museum together online, or to find other friends through the exchange of NFT collections.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/spend-1-million-to-buy-wechat-avatars-in-metaverse-what-are-the-pictures-of-young-people-this-year/
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.

Like (0)
Donate Buy me a coffee Buy me a coffee
Previous 2022-05-20 11:34
Next 2022-05-20 23:29

Related articles