In the current market, tokens such as BTC and ETH are in a volatile market. In the NFT market, mainly picture NFTs represented by FPF continue to be hot. People are in a FOMO group state and boast a large number of FPF NFTs. In this market, the transaction volume of our peer opensea exceeded $5.1 billion in January, reaching an all time high. Other similar markets, such as looks Rare, want to use the method of "trading and mining" to generate competitive advantages. Judging from the current situation, the number of daily active users and the effective transaction volume are also very limited. It won't work, and it won't work in the future.
According to statistics from rarity.tools, in the current entire image NFT market, the NFT collection ranked 643 has a market value of less than 100 ETH. Now the market is showing a speculative effect on the head, not a long-tail effect.
Due to the non-homogeneous nature of NFT, the liquidity of NFT is far lower than that of FT, so that its estimated market value cannot accurately reflect its real market value. For example, if there are 100 houses in a community, when one of the houses is sold at a very high value, whether the sale is for self-purchasing or other reasons, the estimated total value of the houses in this community is The market value which will be greatly increased, but this is not the real value.
To be honest, as a member of the industry, we feel very uneasy about this situation.
This is completely inconsistent with the huge potential that NFT technology and blockchain technology can show.
We have always believed that the value of the assets represented by NFT should far exceed the value shown by the existing market.
We can also do a comparison to illustrate some situations.
Opensea, the largest NFT trading market by transaction volume, was established at the end of 2017 and currently has a maximum monthly transaction value of US$5.1 billion.
The FT exchange ByBit, which was established in 2018, currently ranks third or fourth in terms of transaction volume among all exchanges. The most recent transaction volume has exceeded 6.5 billion US dollars a day.
The current NFT market is still far behind the FT market.
In the real world, the total market value of non-fungible assets greatly exceeds the total market value of homogeneous assets. Most of human assets are non-fungible assets and their derivatives.
If we study more data and facts, it is not difficult for us to draw the following conclusions:
The NFT market also has amazing potential, and the future transaction volume of the NFT-related market will exceed the FT market.
The currently prosperous NFT market is only a very small part of the NFT field, and does not represent the entire NFT field.
The real development of the NFT field lies in those assets other than image NFTs, such as land, real estate, insurance, tickets, equity certificates, virtual worlds and so on.
Only after the non-picture NFT market is prosperous, is the real prosperous period of NFT.
As a member of the NFT marketplace, we are in a way a competitor to many NFT marketplaces like opeasea today. Our investors and community partners are also very concerned about our development and future.
Here, we would like to mention some clarifications of our views and our plans.
We do not believe that it is neither possible nor meaningful for other competitors to surpass opensea in the pure image NFT market. For example mintbase, looksRare, etc. At present, there are still many similar image NFT markets being launched, which are intensifying competition in this direction.
We also do not believe that the current image NFT market is the main direction of the future NFT market.
We have always believed that NFT is the most important blockchain application in the next decade and a revolutionary industry.
We believe that whoever can innovate and create value in the NFTization of other assets can lead the NFT industry.
In 2022, we will develop important products in the direction of NFTization of land and real estate, NFTization of the lending market, and NFTization of the insurance market, and lead this market.
Our positioning is "the issuance and trading platform of NFT assets on the chain". We hope to promote the NFTization of all assets and greatly improve their transaction efficiency.
Of course, Rome wasn't built in a day. From historical experience and economic laws, all success comes from two factors.
The right direction.
Be patient enough.
Whether it is BTC or any successful project, it all comes from the above two items. Continue to move forward on a correct track, through the blessing of time, to obtain thousands of times the return. We believe that there are such opportunities in the NFT field, and Metaer will also be such a project.
We currently deploy seven advanced smart contracts that support the minting and trading of NFTs on ETH and BSC. Soon, we will officially launch the world's first large-scale real estate NFT market experiment. Of course, we are still advancing the development of our blockchain-based virtual asset platform and will release it at an appropriate time. (Longer than expected because we prioritized real-world asset class NFTs.)
Therefore, we also invite our community partners to jointly promote these exciting and innovative applications that can capture the progress of human society, make important contributions, and reap our wealth.