Venture capitalist Alex: The fall makes the market more rational The next “BAYC” may still appear on the Avatar NFT track

Alex has been immersed in the blockchain field since about 2015, and has also experienced the ups and downs of the market. He maintains an open and cautious attitude towards the emerging NFT track. According to Alex’s comparison push, there are many innovations in the NFT field, which is refreshing. However, from the audience’s point of view, the avatar (PFP) NFT is still the potential next segment to compete with the popularity of Bored Ape Yacht Club (BAYC). .

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The NFT field is “mixed”

NFTs have attracted more and more participants since 2021, however the quality of projects is uneven. Alex said: “Many projects that came to the conference this time may not exist in the next conference. I have some preliminary communication with some project parties, and their understanding of the industry is not very in-depth, whether it is the participants or the project. Fang, everyone’s cognitive level and knowledge scope are still in the initial stage.”

“Front and Back of a Coin”

The pursuit of new things by capital is not a bad thing. Alex contrasted and said that the uneven development side shows that there are indeed many new users and entrepreneurs who have noticed NFT.

He said: “I think this is a double-edged sword, good and bad. For example, we also met some artists who wanted to distribute their works in the form of NFT, and also encountered the kind of peripheral teams. They turned their attention to NFTs, and made them around NFTs, which is also a kind of cultural dissemination.”

Innovation emerges as the times require

Alex said that he has also seen innovations in all directions on NFT.NYC, from the bottom layer of technology to business models, from platforms to projects, avatars, members, passes, and more. He said: “I saw a more interesting project, an NFT platform focusing on AI, there are about three kinds of NFTs, one is the brain NFT of artificial intelligence, this brain can be embodied in the role of an NFT (virtual character), There is also a form (rule configuration) NFT. The three NFTs can be combined to train this virtual character on the platform. The team uses this to make the NFT artificial intelligence football game. There are two innovations involved here, one is GameFi, The other is artificial intelligence. We do not directly operate this character to play football, but through data model training, make its model better and algorithm better, and then come and go to win football games. Its specific commercial application also remains to be seen Deliberation, but I think it is a quite innovative project.”

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The fall of NFT makes the market more rational

The NFT market is cooling, and while OpenSea remains the top NFT market, its average selling price, number of traders, and sales are all down. On May 20, the platform’s daily volume was $43 million; on June 22, it dropped to nearly $17 million.

NFT critics are getting louder in a bear market, and market sentiment is declining. Alex believes that there are various roles in the market, short-term hype is one role, and the other is long-term investment or cultural believers. Short-term price decline is a healthier behavior, because if the price continues to rise, the rationality of everyone’s investment and choice will be reduced. Only when the market fluctuates can we filter and precipitate some things that are really doing things and have value. project.

Because of the fall in prices, investors are more cautious when investing, and the project party needs to do something more valuable and more able to meet the market demand. Therefore, the bear market is a treatment and correction to the health of the market.

NFTs and cultural identity

Alex’s avatar on social media is a MAYC NFT. In his opinion, NFTs with a specific cultural atmosphere or artistic value are particularly attractive. He said: “For example, Takashi Murakami, and the recently popular goblintown, they have very good Unique community culture. Monkey (BAYC) is such an IP with a very strong brand and community culture, and its IP is indeed successful.”

When asked in which segment the next NFT that can compete with BAYC’s popularity will appear, Alex said: “PFP type, it has a wide audience and a long cycle. There are still some flaws in other fields.”

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/venture-capitalist-alex-the-fall-makes-the-market-more-rational-the-next-bayc-may-still-appear-on-the-avatar-nft-track/
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