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From the originator NFTs such as CryptoKitty and CryptoPunks, to BAYC with a floor price of hundreds of ETH, ERC-721 took over the bull market of ERC-20. Countless good or bad JPEGs are flying around, and the effort level of get whitelist is comparable to playing “Warframe”. >.<
From the classification of NFT, I personally divide it into the following three categories: Arts (the results of labor, more to meet the needs of the spiritual level), Crafts (through mass production by code, combining some artistic attributes and practical functions) Commodities), Industrial products (May be a sickle, a Dragon Sword, or a Schrodinger's Sword)
Arts: Beeple's digital work "Everydays: The First 5,000 Days" is sold for nearly $70 million at Christie's. This work is a digital work created by Beeple every day since May 1, 2007 and it was completed in February 16, 2021. He combined all the independent works into a giant digital collage and titled "Everydays: The First 5000 Days". Behind this is Beeple's solid C4D technology and the original intention of creation.
Crafts: This type of NFT is mainly based on brands and stars. The brands NFTs series are represented by Nike, Adidas, Under Armour, and LV. The first three brands have been planted seeds in the Metaverse. LV has previously given out NFT through playing mini-games “Louis The Game“ which introduced its own brand history. The star-based NFTs are mainly represented by PhantaBear (Jay Chou), The Heart Project (Edison Chen), and INNOCENTCATS (Wilber Pan). Under the pop-star’s high-level attentions, the old fans recall the youthful star-chasing time in high school. But holding the star NFTs is probably risky, because holders need to always pay attention to the popularity and dynamics of stars.
Industrial products: I think it is a sickle over the head of the sucker. How many times does the farmer cut the leeks in one year? It is depending on the material of the sickle, not on the speed of leeks growth. This category of NFTs is more likely to appear imitation projects because of the lack of artistic skills and star’s attention. Everything has two sides. There are many small and great NFT project that have been slowly into good one, and even will turn into works of art and IP, but this also depends on various factors such as the pattern of the project team, the driving force of capital, the opportunities of the market, and the consensus of the community.
Use the notion of “Person-Goods-Fields” to illustrate my personal views on NFTs, Person is both brand consumers / fans and holders of NFTs. Goods is both physical goods, music albums or NFTs released on-chain. And Field is not only the user's brand stickiness or fans' love for idols, but also the NFT has the naive of the blockchain. How to explain this nature of naive, I think it includes the following points:
Certainty (Confirm the ownership of NFT)
Uniqueness (Everything is unique, of course this is the nature of the ERC-721)
Story (A story that can be imagined)
Findability (After NFT is minted, it can not only be found on the Opensea, but also can be traced in the multiple parallel metaverses, and it can be even generated strong binding which is between on-the-chain and off-the-chain)
For examples, not investment advice (DYOR)
1、This NFT is issued simultaneously on multiple parallel metaverses in Gala, Sandbox, and Decentraland by Stephen Curry in partnership with Under Armour, which is laid the foundation for expansion in the future.
2、Metro Goldwyn Mayer (MGM) and EON Productions (EON) have partnered with Cinemark Theatres to launch the first-ever NFT movie ticket stub exclusively with VeVe. In addition to adding the NFT to their collections, each original purchaser of these limited-edition tickets will also receive seven complimentary promotional codes to see No Time To Die, at any Cinemark movie theater, during the run of engagement in the U.S.
Coincidentally, at the beginning of the year, Ghozali, a young man from Indonesia, imitated Beeple's creative model to take selfies with the front camera of his computer for 933 consecutive days. After a sudden exposure on the Opensea, Miss Irene, a beautiful Singapore girl , turned her life photos into NFT as well. Although there are capital pushers or suspicions of harvesting common investors’ wealth behind this, it is nothing more than a sinking breakthrough attempt of NFTs, which makes NFTs be more common and friendly and fly into the homes of ordinary people. And therefore, I classify it as the fourth category of NFT ( PhotoNFT or Grassroots NFT). In my watch list, “Numbers Protocol” @numbersprotocol has these features, which not only can effectively protect the copyright of creators, but also lower the threshold for ordinary people to enter NFT market. (This is not an investment advice, just because the project is in line with the point of view which I want to discuss. I will separately introduce my personal analysis on this project later.) Although this type of NFT is not created in batches with code and is added more vitality, it has the problem about nature of native as well. Because it lacks an attractive story of NFTs which creators made and findability mentioned above, which makes it difficult to have an obvious breakthrough in price and value.
*In terms of improving the nature of native, the creator economy and the fan economy can effectively fill the deficiencies in this aspect to a certain extent. The representative projects of the creator economy is “Rally”@rally_io, it helps creators (May be Artists, musicians, streamers, gamers, athletes, or grassroots civilians) mint their own fan tokens and issue NFTs to build sustainable community consensus and economic models. The representative project of the fan economy is “Chiliz”@Chiliz that issues fan tokens for sports clubs, which not only expands the club’s revenue structure, but also enables fans to participate in the governance of their favorite sports teams, even if which is an marginal governance in an early-stage, and it builds a new communication bridge that fans can exchange tickets and get NFTs of teams by “Socios”@socios . (This is not an investment advice, just because the project is in line with the point of view which I want to discuss. I will separately introduce my personal analysis on this project later.) These two economic models are specious, but they are similar in effect. The creator’s personal experience and the club’s history are integrated into the story. And there is a strong binding which is between goods which is related with teams and NTFs on the chain.*
In conclusions, blue chips like BAYC that satisfy all the characteristics will become more and more valuable like Maotai. For ordinary people, it is wise and enjoyable experience to choose NFTs in their familiar fields or make PhotoNFT to record their own happy life.
From the originator NFTs such as CryptoKitty and CryptoPunks, to BAYC with a floor price of hundreds of ETH, ERC-721 took over the bull market of ERC-20. Countless good or bad JPEGs are flying around, and the effort level of get whitelist is comparable to playing “Warframe”. >.<
From the classification of NFT, I personally divide it into the following three categories: Arts (the results of labor, more to meet the needs of the spiritual level), Crafts (through mass production by code, combining some artistic attributes and practical functions) Commodities), Industrial products (May be a sickle, a Dragon Sword, or a Schrodinger's Sword)
Arts: Beeple's digital work "Everydays: The First 5,000 Days" is sold for nearly $70 million at Christie's. This work is a digital work created by Beeple every day since May 1, 2007 and it was completed in February 16, 2021. He combined all the independent works into a giant digital collage and titled "Everydays: The First 5000 Days". Behind this is Beeple's solid C4D technology and the original intention of creation.
Crafts: This type of NFT is mainly based on brands and stars. The brands NFTs series are represented by Nike, Adidas, Under Armour, and LV. The first three brands have been planted seeds in the Metaverse. LV has previously given out NFT through playing mini-games “Louis The Game“ which introduced its own brand history. The star-based NFTs are mainly represented by PhantaBear (Jay Chou), The Heart Project (Edison Chen), and INNOCENTCATS (Wilber Pan). Under the pop-star’s high-level attentions, the old fans recall the youthful star-chasing time in high school. But holding the star NFTs is probably risky, because holders need to always pay attention to the popularity and dynamics of stars.
Industrial products: I think it is a sickle over the head of the sucker. How many times does the farmer cut the leeks in one year? It is depending on the material of the sickle, not on the speed of leeks growth. This category of NFTs is more likely to appear imitation projects because of the lack of artistic skills and star’s attention. Everything has two sides. There are many small and great NFT project that have been slowly into good one, and even will turn into works of art and IP, but this also depends on various factors such as the pattern of the project team, the driving force of capital, the opportunities of the market, and the consensus of the community.
Use the notion of “Person-Goods-Fields” to illustrate my personal views on NFTs, Person is both brand consumers / fans and holders of NFTs. Goods is both physical goods, music albums or NFTs released on-chain. And Field is not only the user's brand stickiness or fans' love for idols, but also the NFT has the naive of the blockchain. How to explain this nature of naive, I think it includes the following points:
Certainty (Confirm the ownership of NFT)
Uniqueness (Everything is unique, of course this is the nature of the ERC-721)
Story (A story that can be imagined)
Findability (After NFT is minted, it can not only be found on the Opensea, but also can be traced in the multiple parallel metaverses, and it can be even generated strong binding which is between on-the-chain and off-the-chain)
For examples, not investment advice (DYOR)
1、This NFT is issued simultaneously on multiple parallel metaverses in Gala, Sandbox, and Decentraland by Stephen Curry in partnership with Under Armour, which is laid the foundation for expansion in the future.
2、Metro Goldwyn Mayer (MGM) and EON Productions (EON) have partnered with Cinemark Theatres to launch the first-ever NFT movie ticket stub exclusively with VeVe. In addition to adding the NFT to their collections, each original purchaser of these limited-edition tickets will also receive seven complimentary promotional codes to see No Time To Die, at any Cinemark movie theater, during the run of engagement in the U.S.
Coincidentally, at the beginning of the year, Ghozali, a young man from Indonesia, imitated Beeple's creative model to take selfies with the front camera of his computer for 933 consecutive days. After a sudden exposure on the Opensea, Miss Irene, a beautiful Singapore girl , turned her life photos into NFT as well. Although there are capital pushers or suspicions of harvesting common investors’ wealth behind this, it is nothing more than a sinking breakthrough attempt of NFTs, which makes NFTs be more common and friendly and fly into the homes of ordinary people. And therefore, I classify it as the fourth category of NFT ( PhotoNFT or Grassroots NFT). In my watch list, “Numbers Protocol” @numbersprotocol has these features, which not only can effectively protect the copyright of creators, but also lower the threshold for ordinary people to enter NFT market. (This is not an investment advice, just because the project is in line with the point of view which I want to discuss. I will separately introduce my personal analysis on this project later.) Although this type of NFT is not created in batches with code and is added more vitality, it has the problem about nature of native as well. Because it lacks an attractive story of NFTs which creators made and findability mentioned above, which makes it difficult to have an obvious breakthrough in price and value.
*In terms of improving the nature of native, the creator economy and the fan economy can effectively fill the deficiencies in this aspect to a certain extent. The representative projects of the creator economy is “Rally”@rally_io, it helps creators (May be Artists, musicians, streamers, gamers, athletes, or grassroots civilians) mint their own fan tokens and issue NFTs to build sustainable community consensus and economic models. The representative project of the fan economy is “Chiliz”@Chiliz that issues fan tokens for sports clubs, which not only expands the club’s revenue structure, but also enables fans to participate in the governance of their favorite sports teams, even if which is an marginal governance in an early-stage, and it builds a new communication bridge that fans can exchange tickets and get NFTs of teams by “Socios”@socios . (This is not an investment advice, just because the project is in line with the point of view which I want to discuss. I will separately introduce my personal analysis on this project later.) These two economic models are specious, but they are similar in effect. The creator’s personal experience and the club’s history are integrated into the story. And there is a strong binding which is between goods which is related with teams and NTFs on the chain.*
In conclusions, blue chips like BAYC that satisfy all the characteristics will become more and more valuable like Maotai. For ordinary people, it is wise and enjoyable experience to choose NFTs in their familiar fields or make PhotoNFT to record their own happy life.
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