“Top Ten Industry Changes” Caused by NFT

NFT is one of the most controversial technology and entrepreneurial projects this year.

Many people say that it is a Ponzi scheme and the tulip bubble of the 21st century. Some people think that during the epidemic, NFT has become the “savior” of some IPs that mainly sell offline. If they control their hype attributes, they can become a booster. A new medium of development.

Under the controversy, a number of star companies have chosen to participate in the world: The New York Times and Xinhua News Agency in the media industry; Ali and Tencent in the Internet industry; KFC, McDonald’s, and Nexue’s tea in the catering industry; Adidas and Nike in the clothing industry ; BMW and Ferrari in the automotive industry; even dozens of museums such as the Palace Museum, Hunan Provincial Museum, and Russian Hermitage Museum.

It should be pointed out that domestic NFTs and foreign (mostly the United States) NFTs are completely “two species”.

Domestic NFTs, also known as “digital collections”, are not tradable and prohibit speculation. Regardless of their value, the price is mostly positioned at 0-100 yuan; foreign NFTs, the full name of non-fungible tokens (Non-Fungible Tokens), are A tradable digital asset that allows hype, and some works have even been auctioned for tens of millions of dollars.

Some of the NFT projects are “drumming games”, such as the NFT painting “Everydays: The First 5000 Days” that was sold for nearly $70 million. Even the author himself, Beeple, bluntly said that NFT is a bubble. However, there are also some public welfare projects or brand promotion projects, which are not for profit, and try to provide users or fans with a better experience. For example, Xinhua News Agency launched 110,000 NFT works at a price of 0; for example, in the United Kingdom to record and promote sports athletes. Legendary moment, launch of Olympic NFT.

Are NFTs a scam? In the bubble blown by NFT, are there some truly valuable innovation attempts? To this end, Tiger Sniff tries to find those NFT projects and their companies that will promote the development of traditional industries to a certain extent in 2021.

Media industry: NFT is a new medium

Single NFT reference price: 0 yuan

In December, a piece of news that surprised and excited Chinese NFT participants came from Xinhua News Agency.

On the evening of the 24th, Xinhua News Agency launched the “News Digital Collection” based on blockchain NFT technology, with a limited edition of 110,000 worldwide. An industry insider revealed to Huxi: “The NFT issued by Xinhua News Agency this time is based on Tencent Zhixin Chain. At the end of the month or early next year, it will also cooperate with Ant to release NFT works based on Ant Chain.”

Prior to this, most of the participants in domestic NFT projects were companies or individuals, and no relevant national institutions participated. The participation of Xinhua News Agency this time represents to a certain extent the domestic “new trend”-supporting and encouraging the development of NFT-related industries. This will also allow many companies that are hesitant to participate in NFT entrepreneurship in 2022 because of regulatory issues.

"Top Ten Industry Changes" Caused by NFT

Xinhua News Agency’s NFT Works

Coincidentally, the New York Times, also an authoritative media, also issued its own NFT not long ago.

In March 2021, the New York Times reporter Kevin Roose wrote a column that was auctioned in the form of NFT, valued at approximately US$560,000 (approximately 3.5 million yuan). The auction proceeds will be donated by reporters to the Neediest Cases Fund of the New York Times.

Every country has a number of mainstream media organizations with a long history, and they own the resources such as pictures, audio, and interviews with important people in reporting on major events. For example, the photos of Kissinger shaking hands with Premier Zhou during his secret visit to China, such as the interview with Mo Yan when he won China’s first Nobel Prize winner in literature, such as a recording of the Beatles before his death… all can be made into NFT, So as to spread in a new medium.

"Top Ten Industry Changes" Caused by NFT

The above are not illusions, some have become reality.

Currently, the recording of the Beatles’ interviews during his lifetime has been made into NFT by a media called VOCR (Voice of Classic Rock Archives). The VOCR archive has 650 historical interviews and radio shows, including “almost all major rock music icons from 1964 to 2008”. They have four exclusive audio interviews with the Beatles, which have never been heard by the public for decades.

Jonathan Fosterberg, general manager of VOCR, said: “The Beatles interview recording NFT may continue to exist as a new medium. We are very interested in how this new medium will develop.”

Sports industry: NFT has become a “supplement” to the club ecology

Single NFT reference price: 3179 yuan

Sports is an industry that can consolidate global consensus. This is one of the reasons why NFT can be widely used in the sports industry. When Liu Xiang broke the world record in the 110-meter hurdles with 12.88 seconds, and when Kobe scored 81 points in a basketball game, people cheered for them from the bottom of their hearts.

And sports stars are also the group of people who are most actively embracing NFT. For example, the King of Fighters Tyson’s personal NFT was sold for US$987,000; Warriors star Stephen Curry launched a new NFT series to celebrate his 2,974 three-pointers, each unique NFT priced at US$499 (About 3179 yuan), Curry plans to donate 100% of the profits to the foundation. The total profit is about 1.5 million U.S. dollars.

"Top Ten Industry Changes" Caused by NFT

In addition to amplifying the brand value of individual stars, NFT can also provide a better way to connect between clubs and fans. For example, the top football club AC Milan, through the launch of NFT, allows owners to enjoy part of the club’s decision-making power. Top clubs such as Barcelona and Juventus also use this method to form better connections with hardcore fans.

In addition to clubs, event organizers such as the NBA, CBA, and Chinese Football Association can also issue NFTs to better spread sports events. This may be beneficial to the healthy operation of sports events and the entire industry ecology.

At the national level, the United Kingdom has announced the launch of the Olympic-themed NFT when participating in the Tokyo Olympics in July 2021 to record the legendary moment of the British team in the Tokyo Olympics. Prior to this, the international organization, the International Olympic Committee, announced that it would launch the NFT Olympic badge based on the art and design of the previous Olympic Games.

Film and television industry: NFT is becoming the “standard configuration” for film announcements

Single NFT reference price: 318 yuan

The film and television industry suffered heavy losses due to the epidemic. Take “Star Wars” as an example. Its derivatives account for more than 70% of the total film revenue, and are mainly sold offline. However, their revenue has shrunk significantly due to the epidemic.

As a digital collection, NFT does not need to be sold offline. It has become one of the popular promotional channels and revenue methods for film producers during the epidemic.

Take the upcoming “The Matrix 4: Rebirth” as an example. In order to promote the effect, the producer Warner Bros. cooperated with the NFT platform Nifty’s to launch the “The Matrix” series of NFT avatar blind boxes. A single NFT avatar is priced at US$50 (approximately 318 yuan). With the reputation brought by the first three seasons, fans have paid for it, bringing in USD 5 million (approximately 31.85 million yuan) in revenue for the producer. And the cost is almost zero.

This is not the first time the film and television industry has tried NFT. The movies “Dune”, “Sin City”, “The Godfather”, Wong Kar Wai’s film “In the Mood for Love”, domestic animation “Ling Cage”, and Hong Kong film “Anger: Serious Cases” have all followed one another. Launched NFT.

In the film and television industry, NFT is gradually becoming a “standard configuration” when works are announced, allowing some IPs to survive the cold winter of the epidemic.

Music industry: NFT, “part of” copyright revenue

Single NFT reference price: 555 yuan

If the film industry gives people visual enjoyment, music gives people aural enjoyment. Bach, The Beatles, Jay Chou Mayday…Music has the power to heal generation after generation. However, if a good music is only defined by its spread and reputation, it is somewhat unfair.

Many independent musicians or labels, their style only attracts a small group of people and gives them strength. However, music creation requires material support and cannot be completely “powered by love.” For example, Peng Lei of the New Pants Band, as the lead singer of a well-known rock band, he also bluntly said that he can’t survive by music, and he needs to work across industries to support his music dream, and behind it is the situation where more musicians are defeated by reality. .

NFT may be one of their channels to increase income.

“Rolling Stone” magazine reported in March this year that the Kings of Leon band released a new album in the form of NFT, with sales of more than 2 million US dollars. On December 21st, the Japanese music master Ryuichi Sakamoto, who scored “The Last Emperor”, also released his NFT work “Merry Christmas Mr. Lawrence”, a note of 10,000 yen (approximately 555 yuan), which aroused the support of music fans .

China has only begun to pay attention to the content of copyright protection in recent years. The short time has made our experience in copyright protection still lacking, which hurts innovation and creation. NFT is not a panacea, but it is a complementary solution.

Clothing industry: building a “virtual sneaker empire”

Single NFT reference price: 5000 yuan

From offline scenes, to online scenes, to Metaverse, Nike and Adi are always in the shadows.

In November of this year, Nike created the virtual world “Nikeland” and became the first well-known brand to enter the “Metaverse”. Adidas followed closely. In mid-December, 30,000 NFT works of the “Into the metaverse” series were swept away by enthusiastic consumers for US$800 each (about 5,000 yuan). This is the first time. Attempting, it won nearly 22 million U.S. dollars in revenue, and this is also not a small income for Adidas, which had a profit of about 500 million U.S. dollars last quarter.

"Top Ten Industry Changes" Caused by NFT

In addition, Adi also has three partners: Boring Ape Yacht NFT Club; Rogue Comics NFT; AR company G-Money. They will enter the Metaverse world of Adidas.

Nike seems to be one step ahead of Adidas, and its “virtual sneaker empire” has begun to take shape. Nike not only established the Metaverse Studio itself, and frequently applied for related patents and trademarks in the blockchain and other fields. According to the analysis of the New York Times, it also acquired the virtual sneaker company RTFKT for a sky-high price of 200 million US dollars.

In terms of profitability, this start-up, which was born in the UK in January 2020, sold more than 600 pairs of NFT sneakers in just 7 minutes at the beginning of the year, earning more than $3 million in revenue.

Tiger Sniff understands that some domestic sports shoe designers have also started footwear and apparel NFT ventures. They formed studios and worked in companies such as Anta, Byte and BMW during the day, and designed works during workday breaks or weekends. , And released on the domestic NFT platform.

At present, no domestic sports brand has officially announced its entry into NFT, but some industry practitioners have indicated to Huxi that some clothing suppliers and platforms have already launched attempts in the field of NFT.

Food and beverage industry: creating new IP and cultivating consumers’ “mind”

Single NFT reference price: 59 yuan

In the fast-moving track, popularity is “money”, which is one of the reasons why domestic and foreign companies have successively entered the NFT.

In December of this year, the domestic tea brand “Nayuki’s Tea” officially announced a Metaverse IP image: “NAYUKI” on its 6th anniversary birthday, which was sold out in only 1 second.

"Top Ten Industry Changes" Caused by NFT

It is worth mentioning that most of the previously issued NFTs in China were Internet giants, and Nayuki became the first consumer brand to independently launch NFT digital collections in China.

In foreign countries, Pepsi, Coca-Cola, KFC, and McDonald’s also launched their own NFT works. The gameplay of these consumer giants is also endless, blind boxes, pictures, videos, real objects… The same point is that with the brand image endorsement accumulated over a century, their NFTs can always be sold out in a short time.

The NFT value of each brand also indirectly indicates their weight in the minds of consumers.

Automotive industry: customers can not, but I can’t live without

Single NFT reference price: 0 yuan

There is also a wave of NFT craze in the automotive industry.

A blockchain company CEO Xiang Huxi said: “NFT is more like a database technology. At present, the driver’s license information and other data of the car owner are all in the vehicle management office, and the driving data is in the hands of the car manufacturer. Ordinary people have no control over the data. In the future, relevant units can put all personal data on the blockchain in the form of NFT, and the NFT will be generated when the car leaves the factory, so that everyone can use the data well.”

At present, mainstream auto brands such as Rolls-Royce, Ferrari, Porsche, and BMW have entered the blockchain and launched their own NFT works. In order to promote its next Black Badge model at the end of October this year, Rolls-Royce gave the same NFT as a gift to car owners.

Ferrari goes a step further. It has signed a multi-year agreement with the Swiss NFT company Velas Network, which will create digital content for its fans. Ferrari sensitively discovered that it has become a necessity to provide users with NFT services in the future.

In China, the automobile industry is also actively cooperating with Internet giants to launch automobile-related NFT digital collections. Not long ago, BMW released 500 digital model collections on Tencent’s NFT platform Magic Core. At present, nearly 30,000 people have signed up to participate. China’s new car-making force Zhiji Auto and Changan Auchan are also deploying in the NFT field.

Judging from the actions of most car brands at present, selling NFT collections is not what they care about. Using NFT as a link to build their own ecology and attract more consumers is their goal.

Real estate industry: a virtual house worth $10,000 is a natural “billboard”

Reference price of a single NFT: 60,000 yuan

When the reality of real estate is overwhelming young people, there are already a group of people buying and selling virtual real estate in the Metaverse.

In July 2021, a post-95 couple in Shanghai, because they could not buy a house in the real world soon after graduation, they bought a virtual real estate and prepared to be a wedding house for their marriage. Such things happen more and more.

"Top Ten Industry Changes" Caused by NFT

NonFungible website

According to data from NonFungible, in the virtual world platform Decentraland, 443 virtual houses were sold in the past week alone, with sales of 5.12 million US dollars. And if you want to buy a house on this platform, it costs an average of $10,000. At present, the domestic listed company Tianxia Show launched Rainbow Universe this year, and launched virtual real estate of different levels. The chairman of the company Li Meng introduced on November 18 this year that Rainbow Universe has more than 130,000 reservation users.

At present, some traditional real estate companies have also begun to deploy. On December 9, Zheng Zhigang, a Hong Kong real estate giant and CEO of New World Development Group, announced that he had purchased one of the largest digital plots in the Sandbox, with a reported price of US$5 million. Zheng Zhigang will display 10 characteristic companies on this virtual land, including diagnostics and genetic testing developer Prenetics, logistics unicorn Lalamove, technology accessories brand Casetify, etc.

Museum: NFT has become a “new platform” for spreading history and culture

Single NFT reference price: 19.9 yuan

During the epidemic, museums were left in the cold, but online museums have gained more exposure through NFT.

Currently, there are 17 domestic museums testing digital collections through AntChain NFT technology. For example, the four digital collections designed by the treasure “T-shaped silk painting” of the town hall of Hunan Provincial Museum have gained people’s attention through the NFT platform. This allows the old art to rejuvenate on the new technology platform.

"Top Ten Industry Changes" Caused by NFT

And also in the second half of this year, the Hermitage Museum in Russia also opened an NFT auction of 5 world-famous paintings in its collection, including works by Da Vinci, Monet, Van Gogh, etc. .

Art industry: changed the traditional creation, marketing, auction and other links

Reference price of a single NFT: 600 million yuan

Traditional artists paint on paper, and as the influence of NFT expands, more and more art creators will design works on computers.

This is related to the current “crazy” NFT price. Digital artist Beeple’s NFT paintings were sold for nearly $70 million in March this year, and artist Pak’s art project Merge was sold for nearly $100 million. , Which is similar to the auction price of Picasso’s famous painting “Boy with a Pipe”. Picasso’s paintings have gone through more than 50 years, and NFT’s creation has only been a few years, and it has reached a price similar to that of the world’s famous paintings. As far as the event itself is concerned, it is very magical.

At present, Internet companies such as Ant and Tencent are still the “mainstream players” of NFT. According to the latest statistics from Tiger Sniff, there are already Tencent, Byte, Xiaohongshu, Baidu, Station B, NetEase…at least 9 in China. Internet giants entered.

Huxiong learned that a group of art creators have signed contracts with Internet giants and released NFT works on their platforms. Among them are traditional painters, art school students, graphic designers, photographers, etc.

Through NFT, practitioners in the art industry start from creation, marketing, auctions and other links, trying to change the traditional art industry form. For example, the top auction house Christie’s sold more than 100 NFT works in 2021, with a total turnover of nearly 150 million US dollars, accounting for 8% of Christie’s total contemporary art sales in 2021. At present, the three major auction houses in the world have already sold NFT artworks. Included in the auction category.

Write at the end

In 2021, many people’s deepest impression of the changes in the world is that the emergence of NFT has changed their lives. In the latest 2021 report released by the “Collins Dictionary”, NFT defeated Metaverse and cryptocurrency and became the only “word of the year”.

Unknowingly, NFT has penetrated into every aspect of our lives, clothing (Nike Adi’s virtual shoes), food (NFT collection of Coca-Cola McDonald’s), living (virtual house of Hong Kong real estate giant New World), and line (virtual car launched by BMW, Ferrari, etc.) )…NFT is spreading in traditional industries at an incredible speed, and trying to change the inherent creation and marketing models of traditional industries, and even in sports, art and other industries has produced a lot of subversion.

At present, the domestic NFT industry as a whole lags behind the United States by two to three years. Most domestic NFT projects only started in the second half of this year, which is why the domestic perception of it is weaker. If policy does not intervene, it is expected that the number of NFT projects will rapidly increase next year and ignite the market, which will also become an opportunity for many domestic startups. At present, NFT concept stocks such as Visual China and Tianxia Show in the A-share market have already felt the market’s sentiment in advance.

It is undeniable that NFTs abroad have blown a huge bubble, and some digital collectibles are likely to go from tens of millions of dollars to zero overnight. However, the bubbles are not all tulip bubbles. There are also Internet-style bubbles, real estate-style bubbles, and large-scale infrastructure-style bubbles. After these bubbles are burst, they will leave valuable things.

In China, NFT is more like stamps and commemorative coins. The difference is that the issuer is no longer a public institution, but a company or even an individual with an independent brand. Musicians, athletes, calligraphers, journalists, novelists…In the future, as long as people achieve the ultimate in a certain industry and are truly liked by people, they can realize the rewards of fans through NFT.

This new incentive mechanism will encounter huge resistance in reality, but when it surpasses this resistance, it will drive the efficiency of various industries and the entire society to improve.

Human beings have stepped into the golden age of creator economy, are you ready?

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/top-ten-industry-changes-caused-by-nft/
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.

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