Why is the West, especially the US, leading the wave of NFT breaking circles?

If human society is destined to go virtual, then NFT can be responsible for “what is virtual”, while DeFi is responsible for “how much it is worth”.

Abstract: Mainstream society does not reject attempts to integrate culture and technology. If human society is destined to go virtual, then NFT can be responsible for “what is virtual”, while DeFi is responsible for “how much it is worth”, and no matter where human beings eventually go, there must always be spiritual support and physical shelter, and the meta-universe is not destined to be empty.

Surprisingly, NFT is rapidly exploding in the East and West worlds, in China and in the United States, but there are two flowers in bloom, and if we count the progress of NFT in the United States, we must first admit that we are a little behind, and this lag is somewhat surprising when we first look at the perspective of holding the first crypto art exhibition.

So it is important to emphasize that by lagging behind, I mean that NFT in China is still mainly a game that the crypto and art circles are playing with each other, with the art circle producing the works and the crypto circle buying them, as if NFT has no relationship with the general public. But in contrast, the progress in the United States, whether it is NBA Top Shot, New York Times or Eminem, is a part of the social mainstream, and mapping to our country is as influential as saying that People’s Daily has auctioned its own NFT.

This creates a sense of the art of absurd behavior in our country’s trial of NFT: auctioning crypto art to demand payment in fiat currency and auctioning physical art to demand payment in cryptocurrency, right at the beginning and end of the break.

Not a mound of dry bones like inferiority complex, but based on the objective progress, mainland China did touch NFT, but mainly the crypto and art circles are doing it, so this article tries to explore two themes, what traits make NFT more suitable to get out of the circle; what traits make American NFT more active.

Virtualization’s accompanying art forms
The virtualization of human beings turning from the physical world to the digital world is also the process of spreading from the digital twin of an individual to the meta-universe of all human beings, which will inevitably give rise to corresponding lifestyles and artistic expressions.

Just as the hand-pushed mill produced a society headed by feudal lords and the steam engine produced a society headed by industrial capitalists, the financial activities and aesthetic forms of the blockchain world are bound not to remain Wall Street and Picasso.

And blockchain and NFT are different from previous production tools. usually, there are two kinds of technology, one is science and technology, which expresses the relationship between people and nature, and the other is organizational technology, which relates to the relationship between people and people, such as Ford system and 996. and NFT is both science and technology and an organizational technology, on the one hand, organizing the relationship between people and people through the form of art trading up, typically such as casting and trading platforms; on the other hand, it is generated through blockchain technology, a typical technology-oriented form of art.

Why is the West, especially the US, leading the wave of NFT breaking circles?

Image source: Blade Runner

Digital art took shape at least in the 1980s, represented by Blade Runner in 1982, but this punk trend has long only resonated with a niche audience, until the crypto-cats of 2017, or the NBA Top Shot of 2020, if we emphasize the change of art forms from the virtualization of human transformation, we will not only see NFT+Everything, but would identify with NFT as Everything.

Digital objects with economic value and aesthetic value, this is the truth that the Z generation was born to agree, for them, the digital shell wrapped under the fan, hand, game props, and even meaningless meme, can come with and generate value, and at this time the NFT for them to clarify property rights, for them is the logical reason.

NFT why out of the circle, in the end, is the history of generations in the change, if we project from the Watt improved steam engine to the time period to be used, now just short of the proverbial foot, no matter how much animal power and manpower to sell, steam engine to their replacement is bound to happen historical inevitability.

Financial suppression vs. financial liberalization
Then why the United States ran ahead of us, in this article, it is not that there is a difference in the views of the two sides on NFT, but that there is a difference in the perception of the financial attributes of NFT.

Talking about NFT does not necessarily require the introduction of DeFi to have financial attributes. The blockchain world itself relies on economic incentives, a fine tradition that has existed since the days of Bitcoin.

In our country, emphasizing the prevention of systemic financial risks and emphasizing the financial services for the real economy, NFT does not exist in the short-term possibility of fire out of the circle, on this point, will mainly involve anti-money laundering and trading platform to face the regulatory issues, the current CEX to face regulation is mainly to seek compliance as well as strengthen KYC efforts, but the NFT trading goods are virtual spiritual consumer goods, the price from 1 to 100 million are It is normal, but in the eyes of the regulators, this is blatant money laundering, NFT market how to face this problem, I am afraid it will be more difficult than CEX.

At the moment it seems to stop at the coin circle and art circle of mutual support.

And in terms of the economic motivation of this wave, the big dollar release is a direct factor, but in the long run it is the frenzy of capital demand for new targets under overproduction, and once it hits the market of financial liberalization, has the prep to be ignited quickly.

And Western artists have the economic incentive to do NFT, which is their third way outside the film + endorsement, Twitter out of the first step, ins opened up a new fashion, and now NFT gives them the opportunity to more directly cash.

The cash is more direct, traditional artists need commodities to convert value, essentially participating in advertising sales share, while NFT allows artists and fans to connect directly, not only has economic significance, or a more long-term means of preservation of value, spiritual consumer goods do not have a shelf life.

Western artists make NFT attempts are not susceptible to government crackdowns, while our country’s Fan 800 million, a cool daily income, and then today’s fan hit list pour milk event, the stronger the financial attributes of NFT, the less likely artists will dare to try.

Not only celebrities, the mainstream technology elite to enter, NFT is not essentially a technological challenge to society, but embedded, finance will subvert Wall Street, we always face the problem of choosing to use that financial channel, but NFT will allow everyone to participate in it, mainstream society does not exclude attempts to integrate culture and technology, if human society is destined to go virtual, then it is possible that NFT is responsible for If human society is destined to go virtual, then NFT is likely to be responsible for “what is virtual”, while DeFi is responsible for “how much it is worth”, there must always be a place for human beings to rest and shelter, and the meta-universe is not destined to be empty.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/why-is-the-west-especially-the-us-leading-the-wave-of-nft-breaking-circles/
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