Viewpoint: Avatar NFT has formed a business model, where are its future prospects and difficulties

According to Stephen chain cloud the latest data show that the current Ethernet Square, destroyed more than 500,000 total ETH , the destruction rate of 5.21 ETH / min; and the destruction of the current agreement ETH number three are OpenSea 7.42 Wan ETH, Uniswap V2 2.71 Wan ETH And ERC-20 USDT 23,700 ETH. The NFT trading platform OpenSea is far ahead in the Ethereum chain application.

In OpenSea’s transaction volume, CryptoPunk and Lost Ape (BAYC plus MAYC) ranked top two. This shows that avatars are currently the mainstream of the NFT market. More than half of OpenSea’s top 100 NFTs with transaction volume are avatar-type NFTs.

Viewpoint: Avatar NFT has formed a business model, where are its future prospects and difficulties

We believe that avatar NFT has formed a good business model and chain:

Trending concept creation, well-known artist design, limited purchase (mint), purchasers change to avatars, purchasers form a community, marketing (such as inviting stars to change avatars), profit from transactions, airdrop other avatars or accessories, and use NFT for mining , Puzzles, games, etc.

The avatar NFT has a different logic from traditional cryptocurrency industry projects. Traditional cryptocurrency projects are more like stock securities, while avatar NFTs are like online fashion clothing + collectibles.

Returning to its origins, avatars are essentially the “face” or “clothes” of the Internet world. The difference is that this costume will not be damaged. Its biggest problem is that it can be easily copied/plagiarized, and the blockchain helps it complete the confirmation of rights, so it can be collected, circulated, and profitable.

In summary, what kind of avatar NFT is easy to succeed?

First, there are well-known artists and IPs with their own traffic to participate in the production or launch, the design is exquisite, and the concept is rich. The most important thing is: let people be willing to replace this NFT with their own avatars ; second, the herd effect driven by celebrities and big coffees is very important. Punk and Ape have a large number of crypto industry big celebrities and celebrities participating, and the avatar is The advertisements with the highest frequency; third, there is a money-making effect, and investors participate in frequent transactions, and there is room for profit from them. Now some NFT investment communities have been formed.

Regarding the future of avatar NFT, it is still too early to talk about the meta universe, and social media is the main battlefield of avatar NFT. Therefore, the NFT verification function announced by Twitter is very critical:

“Twitter Spaces software engineer Mada Aflak publicly showed a quick demo. In the streaming video, users can click on their avatar, select an NFT from their encrypted wallet, and download the NFT from OpenSea (a popular digital collectibles market) , You can put this NFT image into their avatar, and then a “blue mark” will be automatically generated on Twitter’s profile to indicate that they are the true owner of this NFT image. “

In the future, if giant social software such as Facebook, Instagram, Whatsapp, Telegram, etc., all add this function , even Chinese social software such as Weibo, WeChat , Dingding, etc. will also add this function (of course, it is more likely to use its own alliance chain instead of the public chain). ), then the avatar-like NFT may usher in a big explosion.

Of course, this is just a beautiful vision. The biggest difficulty faced by the avatar NFT is whether it is too confined to a small circle, and finally slowly shrinks.

The positive news is that major auction houses and traditional artists are actively exploring this field. The bad news is that the vast majority of online users are still unwilling to pay for an avatar and have no copyright awareness. A controversial point is whether copyright is just, in line with trends and laws in the Internet world and the encryption world?

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/viewpoint-avatar-nft-has-formed-a-business-model-where-are-its-future-prospects-and-difficulties/
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