What is the real value of NFTs?

The official definition of NFT is: Non-Fungible Token, non-fungible token. It represents a digital certificate, or digital asset, on the blockchain.

The above definition is the same for people outside the circle as if it were not read. Everyone’s reaction is that they understand every word, and they are not human words when put together. If you want to say QQ window show, there are more people who know it.

No fire outside the circle, fire inside the circle. The transaction volume of the overseas NFT trading platform opensea has exceeded 1 billion US dollars, and people buy and sell NFTs on it every day. Are these people sick? Or like a MLM team, building momentum and waiting for leeks to enter the market?

Remove the appearance of a lot of money and stupid people, NFT is not worthless. It is a little superficial to simply summarize NFT as a prelude to a scam in the currency circle. The digital assets represented by NFT can be images, music, 3D virtual characters, or virtual real estate. Taking music as an example, songs released on the blockchain are recorded every time they change hands. It changes the concept that digital products can be copied at will on the traditional Internet, but through encryption, the songs are rendered non-copyable to complete the confirmation of the owner’s rights and interests.

In a simpler Chinese explanation, that is, you can copy as many mp3s as you like before. You can’t copy the music on the blockchain, and you can’t share it with others. You buy it, you can only listen to it yourself. If it is transferred or resold, the next owner can listen, but you can’t. Not only that, digital assets on the encrypted chain can charge transaction fees every time they change hands. The creator of the song receives a small sum of money every time the song changes hands. This is something even iTunes can’t do. In the mp3 era, you bought a song, and although theoretically you didn’t fully own it, it was difficult for the publisher to prevent you from copying it without limit. It cannot be said that NFT is completely impossible to replicate, at least the difficulty of doing this has increased by several orders of magnitude.

Therefore, NFT is naturally a very good solution for authors with the ability to create digital assets to obtain stable income. If you can draw, photograph, write songs, and 3D modeling, you can publish your own NFT on the chain and set the price.

But how to price it?

When I was hanging out in Opensea, I suddenly thought, if I put a ghost painting on it, would it be okay? Yes, yes, no one buys it. Seeing that people buy tens of thousands of people who don’t know the so-called stuff, just because they don’t understand it. Not all the so-called gadgets can be sold. Every NFT exists in the state of a digital certificate, but whether it is an asset or garbage, it is up to the buyer to decide. Most NFTs are just proof that I created this pile of junk.

Alipay has already started the exploration of NFT. There is an officially developed applet on Alipay: whale scout. Whale Quest will release digital collections in limited quantities, and the price is not high, ranging from 9.9 yuan to 19.9 yuan.

What is the real value of NFTs?

These digital collections, which look good but can only be viewed on a screen, are basically sold out. It seems that 9.9 is fully in line with the psychological price of the crowd. A 9.9, 8,000 copies is 79,200 yuan. I don’t know the art market, so I checked it online. In 2006, the auction price of Mr. Dai Dunbang’s paintings was between 15,000 yuan and 28,000 yuan. So I have the next question.

There is only one genuine painting, which can be hung on the wall to enjoy. What can NFT do?

Of course, NFTs can only be enjoyed with a computer. Alipay is also very attentive in order to create its usage scenarios. By purchasing digital collections on WhaleTrack, you can add the skins of digital collections to the Alipay payment code.

Wow, so advanced. But why should I add a skin to the Alipay payment code? To the uncle in the parking lot? The parking lot is not so much to ask the uncle now, and a QR code is fully automatic. Show it to the beautiful little girl at Starbucks? Then I might as well add a WeChat. Where the payment code is so large, Mr. Dai Dunbang’s paintings can attract a few little sisters. Insufficient guarantees will also affect people’s scanning.

In fact, the most common occasion for NFTs in the form of pictures is the avatar. Some celebrities, internet celebrities, or pioneers in the currency circle will replace the NFT pictures they bought with a lot of money with their avatars on social media to show their advanced nature.

Nowadays, almost everyone has a digital ID, whether you call it a screen name or a nickname, in short, everyone has a unique virtual identity. It is indeed where NFTs can generate the most value. The virtual world is a mirror image of the real world. We can dress up our real selves, why can’t we dress up our virtual selves? In a world free from images of real individuals, gender can even be self-selected. You buy a pair of Yeezy to follow the trend in reality, or you can buy a pair of NFT Yeezy officially produced by ADI online, and let your avatar wear it. The more emotion and time we invest in the virtual world, the stronger the connection between virtual identities and real identities, and the more likely value convergence will occur. This is one of the goals pursued by the Metaverse. (Sounds like a QQ window show…

Assuming that 20% of our social relationships do not need to meet in reality at all, and rely on the virtual world to complete the establishment, communication, communication, and even transactions, the external performance of the virtual identity becomes a bit important, and you are willing to spend money on it. . The best investment is to invest in yourself.

But, it ‘s too early to tell.

When discussing the concept of NFT with JT today, I talked about the recent rise of domain names with .eth suffix registered in the group as their own Ethereum wallet. I said that anonymity was originally a feature of blockchain decentralization, and now it is given a name that is strongly related to reality. Isn’t anonymity a real name? If my wallet is called green pepper.eth, who in the circle of friends doesn’t know that this wallet is mine. The transactions that take place on this wallet are no longer secret. Wouldn’t it be more private than when I use Alipay.

The most important thing is that changing the nickname in the group to xxx.eth is to meet the demand for social currency in small groups, and it is convenient to find consensus with netizens. Who knows whether I bought my nickname or not. I forcibly changed my group nickname to green pepper.eth. What can the organization that sells the real name do to me? Also, I didn’t buy Mr. Dai Dunbang’s picture. I’ll take a screenshot to make an avatar, and can I make a skin? NFT is a scholar, and I am a soldier.

The value of NFT is currently only within the sphere of influence of the blockchain. Alipay can use the ant chain to provide a unique interface for whale scouts, and it is not allowed to upload skins by itself. But WeChat allows it, Twitter allows it, Facebook allows it, and mainstream social software allows it. For those NFTs that have been bought at a large price, if they can’t be used as avatars, they can’t be used as avatars that can only be used by buyers all over the world, and can’t be used by others. What is their value other than self-esteem? Self-assurance without feedback is hard to last.

In addition, NFTs are virtual digital assets in my country, and the current policy is to not allow private transactions. Digital collections purchased on Alipay can be transferred, but not resold.

Nonetheless, I am bullish on the future of NFTs. But the future is unpredictable. Buying NFTs now is a bigger bet. So, a small bet on happiness, whether you win or lose.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/what-is-the-real-value-of-nfts/
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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