The NFT field continues to be hot, “Together NFT” is breaking the field pattern

On October 24, 2021, China’s first tradable NFT platform “Yiyi NFT” APP was finally launched after several tests and improvements. Known as the “regular army” in the NFT market, the “One NFT” APP quickly attracted the attention of the industry. The industry is looking forward to its development direction after it goes online. They agree that it is the only one that can break the current pattern of the NFT field and provide a reference for the development of the NFT field. Key items.

NFT field pattern

The current NFT is still a niche market, but its growth rate is amazing. The popularity continues to rise after the DeFi and other sectors are cold. In the future, it is expected to see teams and listed companies with technical advantages, IP empowerment advantages, and platforms with operational capabilities gradually Incoming.

The extremely high popularity of NFT makes its influence not limited to the blockchain industry. Although NFT is still in its early stages, a complete industry pattern has been formed. In the first half of 2021, the concept of Gamefi in the blockchain industry integrates NFT. , Forming the market structure of the blockchain industry; Alipay’s fan tablets and Reddit’s CryptoSnoo have expanded the scope of NFT applications in the Internet field and formed the market structure of the Internet industry.

The popularity of Gamefi is cooling, but the Internet industry continues to explore NFTs. With the Internet’s analysis of the meta-universe concept, the value of NFTs has been widely recognized in the Internet world, providing the possibility to confirm the rights of assets that could not be confirmed previously. At the same time, the expanded asset class is closely related to the masses and is easier to spread, which makes the logic and business model behind NFT easier to understand and accept.

NFT development bottleneck period

In the above description of the pattern of the NFT field, I believe that readers have been able to have a basic judgment on the development prospects of NFT. However, the development of the NFT field has not been smooth sailing. In the process of transition from an early market to a mature market, the phased structure formed will allow the field to show a steady growth, but to further establish the development direction must go through a period of development bottleneck.

Judging from the current NFT field structure, the bottleneck period is mainly reflected in two aspects:

1. Value confirmation of NFT works

The value determination of current NFT artworks and collections usually comes from auction prices, artists’ independent pricing, and NFT trading platform audit pricing. However, these three pricing methods are usually subjective, causing the value to deviate too much from the essence of the NFT.

 “The First 5000 Days” is the most expensive nFT sold so far (and also one of the most expensive works of art ever). This work was created by the famous artist Mike “Beeple” Winkelmann and finally sold at Christie’s for 69.3 million Sold at the price of US dollars. As one of the oldest auction houses, this is also the first time Christie’s has tried to sell pure digital art.

Through the auction pricing of “The First 5000 Days”, it can be found that its pricing is partly due to the market atmosphere and has a certain hype nature. Its auction value often exceeds the expectations of ordinary people, which appears to be extremely “exaggerated.” From the perspective of participants, the excessively high NFT price has little to do with ordinary NFT enthusiasts. After all, there are very few people who can come up with US$69.3 million.

The NFT field continues to be hot, "Together NFT" is breaking the field pattern

Artists’ independent pricing is often a more subjective behavior of the artist, and its value confirmation comes from the artist’s love for the work and ignores the acceptance of NFT artworks by ordinary people. Therefore, the problem of high prices will also arise.

In the end, although platform pricing will take care of the affordability of ordinary NFT enthusiasts as much as possible, it will also sacrifice the interests of the market and NFT creators for sales. Therefore, the platform pricing is generally low, and of course it will achieve better results at the beginning of the issuance, but it is not conducive to the value-added of the long-term collection of NFT artworks.

Lack of supervision on the platform leads to slow development of the NFT field

The NFT field continues to be hot, "Together NFT" is breaking the field pattern

Any field needs to go through a chaotic growth cycle at the beginning, but as the field continues to be optimistic, more and more users flood in, and more complete rules and strong endorsement will naturally become a necessity for the continued development of the field condition. However, the current platform in the NFT field generally lacks supervision, which leads to a large number of users in the process of NFT market transactions in the process of value recognition uncertainty, which leads to the slow development of the field.

How “Together NFT” breaks the pattern

First of all, in terms of platform credibility and supervision, the “Together NFT” APP is supervised by Hainan International Culture and Art Exchange Center Co., Ltd. (Haiwenjiao), and the development of Haiwenjiao (authorized) NFT Development Center is completed. This is the country’s first holding Compliance license, financial bureau supervision, NFT APP for RMB settlement.

Hainan International Cultural Art Trading Center Co., Ltd. (Haiwenjiao for short) was established in November 2020, approved by the Hainan People’s Government and the Hainan Provincial Local Financial Supervision and Administration Bureau. It has online and offline art trading qualifications. It is the leading project and core enterprise of the National Nanhai Cultural and Expo Industrial Park.

A strong endorsement agency has become an important condition that NFT is generally optimistic about. With the supervision and management of relevant departments, the fairness and reliability of NFT has already led most of the current NFT issuance platforms.

The NFT field continues to be hot, "Together NFT" is breaking the field pattern

Secondly, in terms of value evaluation, together NFT follows the six determination procedures of right confirmation, confirmation, price confirmation, confirmation, confirmation, and confirmation to ensure that the model of physical goods + digital copyright can maximize the protection of digital collection collectors. Benefit.

Haiwen Communication (Authorized) NFT Development Center adopts digital RMB (DCEP) transactions to ensure transaction authenticity and compliance, strictly control the T+5 increase at 20%, effectively curb speculation, and ensure that digital art collections can be sold in an orderly manner , And protect the interests of collectors.

Concluding remarks

“Together NFT” through the formulation of rules for value evaluation, as well as the supervision and management of powerful institutions to give new players more income protection and value protection. With the increasing number of users of “Together NFT”, although it is not ruled out that some speculators can derive huge benefits from it, the innovative operation mode of “Together NFT” and its impact on the blockchain industry and the Internet industry The compatibility of the NFT pattern has allowed us to see the travel of a mature NFT trading platform.

In the foreseeable future, “Together NFT” will become the “standard answer” of the entire NFT field as most people expect.

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