The official community creation OpenPunks wants to build a B station in the currency circle?

Beginning with the “Matthew Effect” widely mentioned in the industry in the fall and winter of 2019, it is now another autumn. The struggle between exchanges has never stopped. As the cold wind blows, the industry once again undergoes a round of reshuffle, and NFT has become the highlight of exchange competition.

Nowadays, a low-key “strength faction” quietly appeared on the stage, full of vigor and spirit. Following the NFT Magic Box platform, Gate.io has launched a collection of Punks avatars that users can create publicly-OpenPunks, and 5000 OpenPunks works will be created in the first batch.

On October 11, the first batch of 150 OpenPunks blind boxes went online, and they were sold out within 2 minutes. What is the magic of this new species?

NFT upstart: OpenPunks

The explosion of CryptoPunks has changed the gameplay of the entire NFT track to a certain extent.

The official community creation OpenPunks wants to build a B station in the currency circle?

If previous NFT products were used as part of blockchain games, such as CryptoKitties, players are more concerned about the gameplay behind a non-homogeneous picture.

When a rare alien avatar on CryptoPunks was sold for 11.75 million US dollars, the social attributes behind the NFT were fully amplified, which not only brought new gameplay to the entire NFT track, but also gave birth to a batch of Another batch of explosive projects. Derivatives of CryptoPunks such as Bored Ape Yacht Club, Pudgy Penguins, CovidPunks, and Cryptotrunks are emerging in endlessly.

Their appearance is equivalent to advertising for Cryptopunk. On the one hand, it further enhances the value of CryptoPunks, on the other hand, it also boosts the popularity of NFT avatars.

Up to now, OpenSea data shows that the total transaction volume of CryptoPunks, which is the most concerned in the market, exceeds 1.6 billion U.S. dollars, followed by BAYC (boring apes) with a total of 138,744.56 ETH transactions, with a total transaction volume of about 500 million U.S. dollars.

According to CoinMarketCap data, there are 7 NFT avatars in the top ten NFT collections by market value. In this magnificent NFT feast, various exchanges have revealed their magic weapons, whether it is Binance’s NFT trading platform, Huobi’s iBox, or OKExNFT…Although there are wins and losses in other areas, But it does not affect the exchanges’ focus on the NFT field.

If it is said that the previous layout of the three major exchanges in terms of NFT is more focused on trading platforms, then OpenPunks will undoubtedly boost the war to further burn into the field of NFT avatars.

The official community creation OpenPunks wants to build a B station in the currency circle?

OpenPunks is an open, community, and irreplaceable collection of creative Punks, dedicated to creating a more open gathering place for Punks creators. In terms of quantity, it is the same as CryptoPunks. OpenPunks is issued a total of 10,000, and will never be issued. Each OpenPunks combination is unique.

Everyone has the opportunity to create freely, and in return, art creators will reap the joy of free creation and the infinite value brought by the work itself.

OpenPunks is composed of multiple basic elements, each of which has a different classification attribute and a specific degree of rarity. They rely on a variety of possible random generation, the characteristics of each component element are displayed in the form of words, and a few element characteristics have rarer value attributes.

It is worth noting that the launch of OpenPunks, in addition to closely fitting the NFT avatar craze, also incorporates a new “word game” gameplay led by Loot.

OpenPunks’s NFT type goes further. The composite structure of text description (pre-set) + avatar exhibition (community creation) effectively combines the two current hotspots and brings more fresh NFT gameplay to the majority of users.

The first issue of the creation of OpenPunks #1, #2, #3, the serial dispute over the ownership of the works has come to an end, which has attracted great attention from the community and fully stimulated the community’s creative enthusiasm.

Yesterday, 5000 OpenPunks were officially sold globally in the form of auction + blind box. At 14:00 in the afternoon, the first batch of 150 OpenPunks blind boxes were unlocked for sale, and they were sold out within 2 minutes of going online.

At the moment when the concept of NFT is fierce, 5000, which is not a lot of numbers, guarantees the scarcity and value of the work. Coupled with the official repurchase guarantee given by OpenPunks, it may further ignite players’ desire to buy and trade.

BiliBili in the NFT field?

The official community creation OpenPunks wants to build a B station in the currency circle?

Marxist philosophy says: The people are the creators of history, and the splendor of society is embodied by the masses.

Why is BiliBili becoming the most beloved video platform for young people nowadays compared to UAT. The core reason lies in the UGC model (User Original Content) of BiliBili, coupled with the deep stickiness of the B station to users and the strong social attributes established based on common interests and hobbies. Make it easier for the video content of station B to gain the favor of users.

Station B users are not only content audiences, but also content producers. In this mode, it is easier to stimulate users’ creative enthusiasm and creativity.

And OpenPunks through the creation and sales model promoted by the community, the majority of community users act as creators, and auction bids are completed in the community. From among the masses, to the masses, OpenPunks has its essence.

In addition, GateChain, which is more grounded, community-driven, public participation in creation, low risk of official bottoming, and strong underlying technical support, is also the fighting power of OpenPunks.

First of all, as a creator, if you can make unconventional and extraordinary works, you can naturally gain higher value recognition in the trading market.

In addition, OpenPunks also has the iterability of works. When you get an OpenPunks, you can use your imagination to create a picture or video image that fits the description based on the description of the NFT work.

Different from other Punks works, OpenPunks is an iterable NFT, holders can continuously polish their works and complete works updates regularly.

For creators, the most attractive highlight is that OpenPunks provides creators with an official bottom-up service.

At present, the most common profit model for NFT creators is either to sell directly or to set a certain amount of royalties and receive rewards in the subsequent transactions of the NFT works created by themselves. This model is good, but it can’t solve a practical problem: in the case where the frequency of the creator’s NFT works is extremely low, the creator will not receive any transaction royalties.

In view of this, OpenPunks proposes that one year after the creator’s NFT works are sold, the official will repurchase them at the initial transaction price. At that time, if the value of the work is higher than the initial transaction price, the owner of the work may choose not to participate in the repurchase plan.

Whether it is BiliBili or content creation platforms such as YouTube, for a wide range of UP owners, there is an unavoidable reality, that is, many UP owners are basically unable to support themselves through video creation before they have made a certain degree of popularity.

OpenPunks solves the worries of creators and can devote themselves to the creation of NFT works. Community-driven, creative incentives, official bottoming, etc., make Gate.io open its doors, or the “B” flavor of OpenPunks is getting stronger and stronger.

Prospect geometry?

As a latecomer, OpenPunks’ ambitions will undoubtedly stir up the NFT platform, a battleground for warlords, and rewrite the order and pattern. This is an imaginative adventure, accompanied by competition and challenges.

However, the serious lack of liquidity has always been the core reason hindering the expansion of the NFT market.

For a long time, the liquidity of the entire NFT market is far from the traditional cryptocurrency and DeFi fields. This is evident from the difficulty of many NFT works. On the other hand, due to the current major underlying public chains Problems such as poor compatibility and high gas fees have further aggravated the difficulty of NFT transfer.

However, although there is a long way to go to solve the overall lack of liquidity in the NFT market, it is the problem of poor liquidity caused by the closure of the underlying public chain. Gate.io opened the door and proposed its own solution: GateChain.

As an important part of Gate.io’s ecosystem, GateChain’s new generation of decentralized public chain empowers NFT from a technical perspective. Since GateChain chain across the property opened up various ecological problems NFT work flow difficulties, had, Gate.io NFT Box is now compatible with the Ethernet Square ERC-721 and ERC-1155 agreement, in cooperation with the recent wave field, and completed the TRC -721, BTFS access, so that OpenPunks naturally has the advantage of “multi-chain user interoperability”.

However, even though Gate.io has prepared a lot for the launch of OpenPunks, there are still some practical issues worthy of consideration by Gate.io.

In terms of user size, Gate.io is not bad, but it is still a certain distance away from the traditional powerhouses such as Binance, Huobi, OKEx, and the above-mentioned powerhouses are all laid out on the NFT track. In terms of popularity and popularity, the well-known NFT avatar products such as CryptoPunks have also brought a lot of pressure on the development of OpenPunks.

Second is the problem of plagiarism and imitation. Unlike homogenized tokens, although NFT has certain aesthetic requirements, the threshold for NFT issuance is extremely low and it is easy to be imitated and plagiarized, so there are many shoddy fabrics on the market. Of inferior NFT works.

To this end, in order to enrich and improve the quality of platform works, originality is supported. Gate.io also launched the NFT Magic Box official certification “Original Works Collection” recruitment to discover more outstanding NFT original works and enhance the passion of NFT creators. The official certified “Original Works Collection” will be given priority. Support for promotion resources, flow resources, creative funds, and transactions.

At present, with its unique product design and strong support for originality, OpenPunks is able to ride on the highway of NFT, but how to turn this product advantage into a market advantage is a step from knowing to doing Great gap.

OpenPunks has a long way to go, but we are happy to see it go in the long run.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/the-official-community-creation-openpunks-wants-to-build-a-b-station-in-the-currency-circle/
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