The only non-tamperable NFT? Alibaba and Tencent compete to bet on blockchain digital collections

Suddenly, NFT (Non-Homogeneous Proof of Equity) became popular. On August 2, a reporter from Beijing Business Daily discovered that Tencent had launched an NFT (non-homogeneous proof of equity) trading app “Magic Core”, with 300 pieces of the “Thirteen Invitations” NFT Digital Collection” on sale for the first time.

Simply put, NFT digital collections use blockchain technology to allow the collection to have an exclusive digital certificate, which is permanently stored on the blockchain and cannot be copied or tampered with at will. Earlier, the payment code skins such as Dunhuang Feitian and 1,600 Euro Cup digital trophies sold by AntChain belong to the NFT digital collection.

Compared with blockchain scenarios such as abstract supply chain traceability, digital collections are directly to C, and the acceptance of ordinary users is higher. At that time, the NFT payment code skin of 9.9 yuan + 10 Alipay points was sold out instantly, and it was still sold out. The scalpers were fried to 1.5 million yuan each.

Whether Tencent’s NFT digital collections will trigger a frenzied snatch is still unclear, but it’s interesting for the giants to compete for NFT opportunities. From an industrial perspective, whether the NFT concept supported by the blockchain will become another value-added path for cultural products such as music, and the definition and regulation of NFT digital collections at the policy level are the focus of the blockchain and the art industry.

What is NFT 18 pieces of blockchain digital audio

“Limited edition “Thirteen Invitations” vinyl record NFT, limited to 300 pieces”, although this is the only product on the Magic Core App, the news of “Tencent limited sale of NFT digital collections” is still triggered in the blockchain circle Hot discussion. People’s excitement about the concept of NFT can be traced back to the fact that an NFT digital work by artist Beeple was sold at a sky-high price of US$69.3 million in EHT (Ethereum) at the beginning of this year.

So what are the NFT products sold by Tencent? What is NFT?

The Magic Core App shows that Tencent’s NFT vinyl field frequency this time contains quotations from 13 characters such as Li Ang, Chen Jiaying, Li Dan, etc. Users can interact with each other before purchase, and they can have exclusive engraving rights after purchase. When describing the collection, Tencent emphasized that it may be the first digital audio NFT collection developed by a video talk show in China.

Regarding the purchase details, a relevant person from Tencent told a reporter from Beijing Business Daily, “The “Thirteen Invitations” vinyl record NFT, priced at 18 yuan, a total of 300 pieces, the purchase threshold is that the user completes the real-name authentication, and the specific release date is not yet available.

The second question is what is NFT? The official explanation of Magic Core is that with the support of blockchain technology, NFT can confirm the rights of any kind of digital goods such as digital art and tickets. After a digital product is encrypted by NFT means, it has a “digital certificate” that is exclusive to itself. This unique mark is also permanently stored on the blockchain. It is unique and indivisible, and cannot be copied or copied. Falsify at will.

Specific to the audio programs released by Tencent this time and the digital products to be sold in the future, “Zhixin Chain” provides the underlying technical support of the blockchain for the issuance and transaction of digital products. Once the NFT digital collectibles are successfully exchanged, they will not be returned.” .

Trophies, paintings…Where are NFTs used and can they be traded?

Although most of the discussion about NFT today revolves around Tencent, in fact, Ali has already tested the waters first and succeeded in getting out of the circle.

For example, at the European Cup in July, Ali once marketed the concept of NFT. Not only did the scoring moments of Ronaldo, Sigg and Benzema generate the first digital collection in the history of the European Cup, but also organized a quiz event and distributed the same digital trophy to 1,600 real-name users.

Ali’s earlier attempt was to sell 4 “NFT payment code skins” on Alipay in June. At that time, Alipay priced 10 points + 9.9 yuan for each payment code skin, but on the Xianyu platform, the highest price tag for an NFT payment code skin was 1.5 million yuan. Users’ crazy pursuit of NFT products eventually returned to rationality after Xianyu removed all relevant sales links and AntChain issued a statement that “NFT is not a virtual currency”.

In order to let users know more about NFT, AntChain emphasized in the statement that “all NFT payment code skins are only for members to purchase at a low price, and used for Alipay payment code swapping. It is not allowed to be used for other commercial purposes, let alone virtual currency.”

Can Tencent’s NFT digital collection be traded this time? As of the Beijing Commercial Daily reporter’s press release, relevant Tencent people did not respond.

Regarding whether NFT digital collections can be traded, Wang Haifeng, a senior researcher at Ouke Yunchain Research Institute, told reporters from Beijing Business Daily, “NFT-based payment code skins and European Cup digital trophies, etc., are based on blockchain technology, which allows products (especially electronic To determine the scarcity of commodities, and anchor the actual ownership of scarce commodities on this basis, we can simply understand it as a kind of “proof of ownership” based on blockchain technology. From this perspective, whether it is Whether the platform conducts NFT sales or exchanges or transactions between users, it is the completion of the transfer of the “ownership” of the product on the basis of the value recognized by both parties.”

In an exchange with a reporter from Beijing Business Daily, Wang Juan, an expert on the OECD (Organization for Economic Cooperation and Development) Blockchain Policy Committee, believed that “NFT digital collections are tradable, but it depends on the issuer’s design. Because they can be tradable, they are not Exclude scalpers driving up prices”.

The giant is here, is digital collection a new outlet?

The buyer’s market is active and the concept of blockchain continues to be hot. Will NFT digital collections be a good business? Wang Juan’s point of view is: “Ali and Tencent are just testing the waters on the NFT track.”

People in the art world also have mixed attitudes towards the concept of NFT. Curator and art critic Liao Liao sees the phenomenon of NFT art in this way, “I don’t think it’s time to judge NFT. NFT may not only be a technology for confirming copyright, but NFT also divides sales, shows scenes, and creates creations. The subject provides room for imagination. Today, our doubts and expectations of NFT may eventually come to nothing, but the important thing is to face it with a more open mind.”

But because NFT earns a lot of money, Beeple said in an interview that the price of NFT art is “absolutely” a bubble, and concluded that “a large number of people will flood into this field. But I think people will understand soon. At this point, all these things will gradually disappear.”

Since NFT is still a new concept, the healthy development of NFT digital collections is directly related to whether NFT transactions are compliant and legal. When talking about the popularity of NFT digital collections, Wang Juan bluntly stated to a reporter from Beijing Business Daily, “The core issue now is whether NFT transactions can be done in China, how to do NFT transactions, and whether the transactions have practical significance.”

When answering questions about market supervision and NFT development, Wang Haifeng also said frankly: “In the early stages of industry development, there are indeed some under the banner of NFT and blockchain, but there is no real asset-anchored’scam’. These frauds are in the criminal law. There are clear provisions in the early days, depending on whether these behaviors meet the constituent elements of the crime stipulated by law, but it is very clear in terms of law application, definition and the validity of evidence. NFT, as an emerging technology field, is in practice There may be some disputes in China, and it is believed that it will be resolved soon with the development of regulatory technology.”

 

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