The top stream evolution logic of Ethereum and NFT

Total NFT sales hit a record high.

October 22 The latest data show that the Ethernet Square on the chain NFT total sales have exceeded $ 8 billion, the number of transactions in the chain more than 3.5 million pen. Behind the repeated record highs of data is the application of NFT in various fields of the market.

NFT trend is popular all over the world

This year is the first year of NFT, with a hot market worldwide. From Curry to Yao Ming, from Taobao to Tencent , Netease, to LV, GUCCI, eBay, Facebook, all walks of life have begun to play NFT. Overnight, the scenery of NFT was the same.

Behind the NFT of everything is possible, traditional giant companies, famous brand companies and well-known institutions have entered the game one after another, trying to deploy the NFT field. The whirlwind of non-homogeneous tokens also extends to games, collectibles, asset tokenization, etc. Realistic industry.

NFT empowers Ethereum

What is the relationship between NFT and Ethereum?

NFT was born in Ethereum. In 2017, NFT was born in a pixel avatar project called CryptoPunks in Ethereum. Half a year later, the block chain game of Ethereum “crypto cat” became popular, and NFT was therefore well-known.

At the beginning of 2021, as the sky-high price of NFT acquisitions continued to hit new highs, NFT became popular, and more and more people began to recognize NFT.

Ethereum is the world’s most popular blockchain public chain, and naturally it has become the main position of NFT. With the EIP-1559 proposal in the Ethereum London upgrade in early August, the symbiotic relationship between Ethereum and NFT has been further strengthened. After the proposal was passed, the amount of ETH burned by the encrypted art platform Opensea has been top of the list, and the two have achieved and empowered each other.

Ethereum’s advantages

Last year, the DeFi ecosystem first broke out in Ethereum, and then gradually spilled from Ethereum to other blockchains, such as TRON, EOS, BSC, HECO, Polygon, etc. However, the DeFi ecosystem on TRON and EOS is basically not a climate. Instead, BSC and Polygon, which are fully compatible with the Ethereum virtual machine, have received the dividends of the Ethereum DeFi ecosystem.

And now when the NFT ecology of Ethereum has exploded, we seem to have seen a similar situation happening again, and other public chains have begun to imitate Ethereum to develop their own NFT ecology. Ethereum is the foundation to support the development of NFT, and NFT continues to be popular and attracts new flows for NFT. The two ecosystems prosper each other.

Ethereum has the strength of Wanlian unified, and it is difficult for other public chains to catch up with Ethereum fundamentally. Ethereum has built an invisible ecological threshold. This ecological threshold seems inconspicuous, but whenever a new ecology develops, its synergy can quickly play a role in Ethereum, making the ecology grow rapidly, and Form a scale effect.

Future outlook

The Matthew effect of the blockchain is very obvious, and the NFT pulls new flows and continues to deliver energy for the prosperity of the Ethereum ecosystem. Ethereum also provides the strongest support for NFT through technical iterations.

The mutual achievement of Ethereum and NFT has become the mainstay of the market, and it will be the next bull market in the crypto market.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/the-top-stream-evolution-logic-of-ethereum-and-nft/
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