Visual China’s entry into the NFT field may be a good medicine for self-help

NFT has become the representative of the recent cryptocurrency out of the circle, attracting a large number of brand names and enterprises to enter the market. A large number of companies have begun to try to explore the combination of NFT and brand marketing. For example, Tencent tested the “NFT” trading platform “Magic Core”, and the IP of NetEase’s game “Forever Tribulation” also authorized the issuance of NFT and so on.

The self-help taste of this big factory entering the NFT field is even more serious. According to iNFTnews.com exclusive news, on August 26, China’s largest visual creative platform Vision China released the “2021 Semi-annual Report”, the report also revealed that the platform may launch its own NFT digital art trading platform.

Visual China's entry into the NFT field may be a good medicine for self-help

“Nightmare” of Visual China

Visual China is a leading company in China’s picture copyright market, but the 2019 Visual China Copyright Gate incident pushed this company to the forefront of the storm and almost fell into “Waterloo”.

Visual China incident

On April 10, 2019, the first black hole photo of mankind was released. When people witness the magic of black holes, some people find that the black holes they see are actually marked with the symbol of “Visual China”. Faced with the rogue and disgusting actions of Visual China, because the first black hole photo in human history was included in its own gallery, China’s largest copyright image trading platform Visual China caused “public outrage.” Afterwards, netizens discovered that pictures of the national flag and national emblem also appeared in the copyright gallery of Visual China, and the condemnation against Visual China reached a climax.

In response to the dissemination of illegal and harmful information on the Visual China website, the Tianjin Internet Information Office interviewed the person in charge of the website in accordance with the law, and ordered the website to immediately stop its illegal activities and make a complete and complete rectification. Visual China issued a letter of apology on its official Weibo stating that the company has taken measures to take all non-compliant pictures offline, and voluntarily shut down the website in accordance with relevant laws and regulations to carry out rectification and further strengthen corporate self-discipline.

Opened on April 12, there is no suspense in the visual China market. There are more than 400,000 hands on seals. In addition, Vision China has 388 million shares lifted today, accounting for 55.39% of the total share capital.

Visual China's entry into the NFT field may be a good medicine for self-help

Realistic Issues Reflected by the Visual China Event

The main problems of Visual China are: First, it uses copyright infringement in the name of protection, plunders the beauty of others, and pretends to be the copyright owner to deceive and blackmail. For example, the copyright owner of the black hole photo has already opened the copyright, but Visual China fakes and charges externally. In fact, Visual China has “possessed a large number of overseas copyrighted photos”; the second is that Visual China engages in porcelain-style rights protection, frequently making high-priced claims, and frequently requiring the signing of annual contracts, causing the media and self-media to be cautious and dare not to include pictures. .

Who owns the copyright? Who has the final say?

Big data analysis found that in the spread of this incident, copyright issues received the most attention. In addition, due to the Weibo of the Central Committee of the Communist Youth League, “national flag” and “national emblem” have also become hot words among netizens.

Everyone’s awareness of copyright protection is increasing, but copyright protection is difficult in reality. Writers like Han Han, Murong Xuecun, and He Masan have sued to win Baidu infringement cases. As the Xinhuanet commented, iron strikes require hard work by ourselves. We cannot tolerate intellectual property protection under the banner of intellectual property protection, and in turn take the lead in infringing intellectual property rights; we cannot tolerate under the banner of market-oriented commercialization, but go astray in the process. , Even against the law, seriously deviating from the original intention.

Visual China's entry into the NFT field may be a good medicine for self-help

NFT is expected to empower the creative economy

What is a non-fungible token (NFT)?

NFT name is Non Fungible Token, Chinese non-homogeneity tokens, unlike Bitcoin homogenization form of NFT is unique properties, is a unique, easily verified digital assets, may represent GIF, pictures, Assets such as videos and music albums. In fact, you may know a long time before the NFT, such as 2017 fire games, encryption cat, popular level so that Ethernet Square network paralysis, a cat NFT price of up to 600 ETH . And the recently popular NBA Top Shot are good examples.

What are the characteristics of NFT?

The attributes of NFT make every NFT unique and true, which solves the big problems in the art and luxury goods industry. For example, LV is preparing to launch NFT to prove the authenticity of its luxury goods, or to track the life cycle of a single handbag.

Another feature is that ownership belongs to the user. For example, in traditional games, players cannot really own anything in the virtual world. But in blockchain games, the assets in the game are owned by the player. Even if the game is down or the server is shut down, the player still holds the NFT assets, and can also be converted into tokens for use in other games.

What is the use of NFT?

NFT makes the content sold on the Internet immutable and unique, enabling artists to protect their creations from forgery. Therefore, NFT solves the problems of digital piracy and the high cost of financial intermediation, making a new economy possible. NFT has become an asset that is not managed by traditional trust verifiers, but by people who produce and create value.

The problem of introducing NFT

NFT is regarded as a digital asset, a unique piece of code that can maintain value due to its scarcity. As the use of NFT expands to the fields of art and creativity, people’s expansion of NFT ignores the consideration of legal consequences.

The technical process of NFT’s casting, issuance and sales involves the impact of copyright law, but it has not yet been fully resolved. If the application of copyright law is not properly considered, NFT will cause problems for creators and consumers. The application of copyright law expertise to the creation and sale of NFTs requires practical verification.

Visual China's entry into the NFT field may be a good medicine for self-help

At the end of the article

In the era of mobile internet, the global picture industry has gradually undergone profound changes. High-end price cuts and low-profit images dominate. With the help of capital, new players in the industry are coming fiercely, and competition is getting fiercer. In the Chinese market, Visual China, which focuses on mid-to-high end, inevitably faces new challenges.

“NFT” has become the representative of the recent cryptocurrency’s out-of-circle. In the second half of the year, there is a trend to lead the bull market in the crypto market. When many major brands are deploying to test the waters for gold, Visual China naturally does not want to miss the “NFT” trend.

 

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/visual-chinas-entry-into-the-nft-field-may-be-a-good-medicine-for-self-help/
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