What happened to the densely blocked NFT platform?

At the end of March 2022, after closing down a large number of digital collection trading mini-programs, a leading social software platform again banned a large number of NFT and digital collection platform public accounts . According to incomplete statistics, there are more than ten well-known platforms affected by the ban, and there are many platforms whose official accounts have not been banned, but have received administrative licenses such as blockchain filing within a time limit from a social software platform. Notification of qualification certificate.

What is the reason for this large-scale raid ban? Some conspiracy theorists believe that this is because the large-scale self-operated digital collection platform behind a certain social platform has always been mediocre, so it has attacked many small and medium-sized platforms, and acted to bully the small; other industry practitioners It is believed that behind this large-scale ban, there may be the shadow of regulatory agencies. After all, in the absence of supervision and the mixed quality of digital collection platforms, it is indisputable that there are cases of improper speculation, online fraud, etc. that infringe on consumer rights and disrupt the financial order. fact.

NFT, digital collection, what happened?

1. The mountains and the rain are about to come and the wind is full of buildings

Fireworks March is a good time for the recovery of all things in the spring, but a wave of unexpected cold spring hits more than ten digital collection platforms large and small one day at the end of March. According to one by one search of the list of banned public accounts circulating on the Internet, most of the reasons for the ban seem to be: ” A user complained and reviewed by the platform, and there is a behavior of publishing, disseminating or engaging in related business activities without obtaining a statutory license or license, and the account has been discontinued “.This incident seems to echo the blockade of small programs on several well-known digital platforms in early March this year. At that time, the reason for the ban on a social platform was that digital collections belonged to the unopened areas of the platform .

In this regard, a social software recently responded that according to relevant national regulations, in order to prevent the risk of speculation in virtual currency transactions, the platform has recently standardized and rectified public accounts and small programs for speculation and secondary sales of digital collections. At the same time, the social platform pointed out that for public accounts that only provide digital collection display and first-level transactions, they must provide their own blockchain filing or cooperation documents with companies that have been filed. In addition, the Mini Program currently only supports the display of digital collections and first-level gifts. Secondary market transactions and multi-level circulation are not open areas. If any confrontational behavior such as bypassing is found, it will be banned or removed from the shelves.

Many small programs and platforms whose official accounts were blocked also acted in a timely manner to take rescue measures. At present, some platforms that have taken precautions have adopted the H5 (ie HTML5) port for transition and stepped up APP development. At the same time, many platforms have adopted the method of airdropping digital collections to attract and maintain user bases to tide over this difficult period.

The embarrassment of this ban can’t help but make people reflect, what is the problem in the digital collection industry, which has led to the frequent occurrence of chaos and urgent need to be rectified? To clarify the myriad things, it may be necessary to start with the transformation of NFTs into digital collections in my country.

2. From NFT to digital collections, the art of surviving in the cracks

NFT, a child born in the Ethereum public chain in 2017, after several years of development and 21 years of phenomenal explosion, has gradually grown into a big family of virtual assets and even indispensable in the Metaverse framework. a molecule of . But it is also in 2021 that the “Notice on Rectifying Virtual Currency “Mining” Activities (hereinafter referred to as “9.24 Notice”) jointly issued by ten ministries and commissions in my country explicitly prohibits virtual currency mining and various currency-related transactions. The monetary era is officially over. Remembering the past, the teacher of the future, as the twin brother of a virtual currency, NFT must take a completely different path of compliance if it wants to survive in my country – “digital collections” came into being.

Transformation and rebirth, a long road to compliance

The most fundamental difference between digital collections and NFTs lies in the fundamental difference in value orientation and positioning. Since NFT itself has multiple value attributes, it is mainly developed and utilized as: (1) The value of ordinary virtual goods and digital artworks. An NFT that exists as an ordinary virtual commodity becomes a virtual commodity or digital asset that can be actually controlled by people and has a certain value by binding with real or virtual artworks, videos, pictures, etc.; (2) a certain value of a new type of financial instrument and financial product.Due to the scarcity created by artificial means such as limited issuance, NFTs that undertake the functions of investment and financing tools, equity certificates, etc. are endowed with a special financial value similar to stocks, futures, and negotiable securities, making them a kind of special financial value. The carrier of speculative profit and financing.

Based on these two value attributes, NFTs have been developed including but not limited to: digital collectibles, social media avatars, brand IPs, GamFi (chain games) props, various community and DAO organization equity certificates, Metaverse identity certificates, Practical applications such as currency issuance certificates.

In order to achieve the purpose of compliant survival, domestic digital collections to the greatest extent: (1) reduce the financial attributes that come with NFT ; (2) draw a clear line with virtual currency . Try to limit the value, use and expression of NFT to the scope of ordinary virtual goods. To this end, many digital collection platforms have implemented a series of measures, including using private chains or alliance chains to sell digital collections, not supporting the transfer of digital collections to private wallets, prohibiting secondary transactions, setting a time limit for transferring gifts, and banning accounts to prevent speculation.

When buying digital collectibles, what do we really buy?

The rights and interests enjoyed by buyers of digital collections are significantly different from NFTs issued on overseas public chains. Under normal circumstances, what a complete NFT holder should enjoy should be an exclusive, similar to a real right, with the right to possess, use, dispose of, and benefit from, but digital collection holders enjoy different things. .

At present, buyers of digital collections in my country mainly enjoy the following three types of rights. In general, buyers of digital collections in my country mainly enjoy three types of rights:

The first is the right to know the information of the work , including verifying the information on the chain of the work on the sale platform, the information of the work itself (such as the work name, introduction, author, etc.), the holder (digital collection buyer) information, and the circulation information (such as the casting and release time, transaction hash, etc.);

The second is the viewing right . Buyers can view and share the digital collections they have purchased anytime, anywhere and without restrictions through the APP provided by the trading platform;

The third is the right to donate . After the buyer holds it for a certain period, the digital collection can be donated to other users of the platform through the platform for free. In addition, since digital collections are mostly issued on private chains or alliance chains, buyers not only cannot obtain the private key, but even hope that the collection platform will be honest and trustworthy and not arbitrarily modify the data on the chain. gone.

As a result, the digital collection platform has completed the transformation and transformation from NFT to digital collections, creating vitality for first-line compliance development in the narrow gap. But, as Marx famously said in Capital, the British critic Dunninger: “As long as there is 10% profit, it will be used everywhere; with 20%, it will be lively; with 50%, At 100%, it will make people defy all laws; at 300%, people will not be afraid of crime, or even the danger of hanging.” Today’s lack of regulation in the digital collection industry is precisely in the Driven by huge interests, it presents a state of disorderly development and chaotic competition .

3. What’s wrong with digital collections that break free from shackles?

The jurist Rousseau has a famous saying: “Man is born free, but everywhere he goes without being in chains.” That’s right, the freedom realized and guaranteed by a legal society is always relative, limited, and restricted within the legal framework. free. It is true that “shackles” not only limit freedom, but also guarantee freedom. From this point of view,although the shackles on digital collections limit the rights of owners, they also maintain the vitality of the entire industry.

Private trading scams abound

On February 22 this year, a digital collection platform owned by a major manufacturer issued an announcement on penalties for violating users. The announcement showed that some users violated the rules of private transactions outside the platform. This time, according to its own “Digital Collection Platform User Agreement”, “if the platform receives a complaint or report, or through other channels, after a reasonable judgment that you have engaged in the act of resale of digital collections, we have the right to Circumstances impose penalties.”, and imposed penalties on 56 users to limit the transfer function.

In fact, private transactions are not uncommon. Although a well-known second-hand trading platform has tried to block keywords and remove sensitive products from shelves, so far, the author has tried to search for “digital collections” on the second-hand e-commerce platform. can successfully find a lot of private transaction channels, but there is no way to know whether the transaction is reliable.

There is a greater risk of being defrauded by private transactions. Not only can the real information of the sellers not be verified from the second-hand platform, but the transaction prices listed on the surface of the digital collections they sell are also not true. After the author’s exploration, it seems that many sellers of digital collections are operated by the same team, not only the copywriting is similar and the price is the same, but players are constantly induced to transfer to other chat platforms for transfer transactions during the private chat process, which is different from the current existence on various networks. There are certain similarities in the fraudulent methods.

At present, this kind of private transaction has produced many victims. One of the currency circle players named metaX shared a real case of property loss caused by private transactions between himself and others. The scammer first induced metaX to form a group chat with a third-party “seller” who wanted to sell the digital collection through a penguin chat software, and then claimed that he was the guarantor to induce metaX to spend thousands of yuan to buy the digital collection. The third-party sellers refused to transfer the digital collection on the pretext that they could not operate it. Afterwards, metaX was surprised to be deceived and reported to the police. (Interested readers can learn more about the details through the metaX account: https://zhuanlan.zhihu.com/p/469659974)

Digital collection platforms are mixed, harming consumer rights and interests

Different from the attitude of big factories that strictly abide by the industry rules, recently there have been many platforms that use the banner of digital collections to make money. Not only do they promote hype and open up the secondary market, there are even platforms suspected of mercenary navy to improperly market their own digital collections. publicity.

Take the currently banned digital collection platform XX Earth as an example. First, it registered an official account on a certain social platform, and then created an APP. Through a series of marketing methods of attracting people and giving benefits, it established many user groups, and then released it. A digital collection of the Genesis Medal, and the Genesis Medal is priced at 888 yuan. After a period of time after a large number of digital collections of the Medal of Genesis were sold, according to user feedback, the platform has already run away with money and buckets .

In addition, due to system reasons or poor management, the consumer experience of many digital collection platforms is poor, and it is difficult to protect consumer rights. It is reported that in 2021, the platform was terminated by many third-party payment platforms, and all payment services with its affiliated company were stopped, and the applet was banned again. In addition, the platform has been frequently complained about the problems of swallowing money, unable to withdraw cash, not shipping or refunding, and there have been more than 1,000 complaints on a famous complaint platform.

Plug-ins are rampant, and the Bureau of Science and Technology is frequent

It is nothing new to use plug-ins to snap up goods. You can find many “snatch” links on a well-known e-commerce platform, and even many students who can’t get a seat for the 4th and 6th exams have also used this kind of “snatch” link. technology” method. At present, most of the major digital collection platforms use limited sales to sell digital collections, which breeds the soil for the survival of technological plug-ins. The players (scalpers) who use plug-ins are generally called “scientists”.

On March 20, 2022, a famous digital collection platform even had too many “scientists” using plug-ins to snap up purchases, resulting in the platform not being able to sell digital collections normally . This broke out the first platform-versus “scientists” war in the history of China’s digital collections. The event eventually won the platform, and the digital collections of the “scientists” were recovered and collectively titled.

However, we also noticed that a large number of users who were suspected of being accidentally injured appeared on a well-known complaint platform. An anonymous complainant said that he purchased 4 digital collections on the platform’s public account on March 20, 2022. During the purchase period All manual operation, from 18:00 to 22:00, a total of 4 digital collections were bought. Then the platform judged that he had used a plug-in, and imposed a penalty on him and the recovery of the account’s digital collection. Of course, we can’t verify whether the user actually used the plug-in, but this shows that the plug-in is rampant.

Illegal and illegal content of digital collections

On March 15 this year, on the day of an anti-counterfeiting party, a digital collection platform was exposed to serious problems in the text introduction of a certain digital collection issued by it, and Taiwan and Hong Kong were listed as separate countries, causing serious dissatisfaction among consumers. Access to the digital collection platform is suspended.

At 6 p.m. that day, the platform issued a statement “Apologizing for the lack of rigorous review of the platform”. In the statement, the platform admitted that there were serious problems with textual representation in the introduction of its works, and that it was a fault that the platform operation did not conduct a rigorous review. While apologizing to the majority of users, the corresponding collections have been removed from the shelves, and the person in charge of the audit operation has been dismissed.

In addition, we have noticed that some NFT products issued on overseas platforms also contain some content that is prohibited by Chinese laws and regulations or violates social order and good customs. All must be vigilant.

write at the end

At present, there are various problems in digital collections that need to be rectified. On the one hand, it is due to the lack of supervision, and on the other hand, it is also due to the popularity of concepts such as the Metaverse, which has brought huge benefits to digital collections. But history tells us that an industry full of speculation and making quick money must be like a shooting star across the sky, and behind the profitable smiles of a few people must be accompanied by the tears of many leeks.

An industry that cannot achieve sustainable development will only become the dust of history, even if it has a glorious past. For the healthy and long-term development of the digital collection market and the Metaverse, rectifying the chaos is the most urgent task in the current industry.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/what-happened-to-the-densely-blocked-nft-platform/
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.

Like (0)
Donate Buy me a coffee Buy me a coffee
Previous 2022-04-02 09:12
Next 2022-04-02 09:14

Related articles