Worldwide, NFT is increasingly used in daily life. Since February 2021, NFT has started explosive growth, with a weekly trading volume of more than $2million. In a few months, the total market value of large NFT projects has increased by as much as 2000%.

Naturally, since the market for such goods is growing rapidly and can become a fairly profitable source of income, many investors seek to profit from this boom. For many people, this is also an alternative investment. There are many different projects to choose from. The rules of the game are very different from the traditional way of doing things.

We have to admit that for many people who publish their work on the Internet, anyone who can access computers or mobile phones can access their works for free. However, the arrival of NFT (blockchain) may change our concept and understanding of open Internet.

The idea of opening the Internet has had a profound impact on us. In a sense, NFT will indeed bring scarcity to things that are not scarce.

One might immediately retort that why would people want to make something more scarce if they wanted it? Elinor Ostrom, the Nobel Laureate in economics, once conducted an interesting experiment to study the way people manage their assets with or without government intervention, and came to the conclusion of the tragedy of the Commons - excessive consumption will harm everyone in society.

The freedom brought about by the Internet and social media may deplete the inventory and value of content. Once any work is put on the Internet, the marginal cost of copying it is zero, and the price of the work is basically zero. This means that no matter how much effort you put in, no one will pay for the work. Given this, more scarcity does bring benefits.

The duality of NFT just provides a solution to this problem. Some people are willing to pay a lot of money to establish a connection with an art or music, but the work can still be viewed publicly for free (just like some people are willing to pay for an album even if they can hear songs for free). This duality can not only keep the openness of the Internet, but also bring material rewards to the original authors. In the future, this may subvert people's awareness of the openness of the traditional Internet and build more demand for digital scarcity.

Worldwide, NFT is increasingly used in daily life. Since February 2021, NFT has started explosive growth, with a weekly trading volume of more than $2million. In a few months, the total market value of large NFT projects has increased by as much as 2000%.

Naturally, since the market for such goods is growing rapidly and can become a fairly profitable source of income, many investors seek to profit from this boom. For many people, this is also an alternative investment. There are many different projects to choose from. The rules of the game are very different from the traditional way of doing things.

We have to admit that for many people who publish their work on the Internet, anyone who can access computers or mobile phones can access their works for free. However, the arrival of NFT (blockchain) may change our concept and understanding of open Internet.

The idea of opening the Internet has had a profound impact on us. In a sense, NFT will indeed bring scarcity to things that are not scarce.

One might immediately retort that why would people want to make something more scarce if they wanted it? Elinor Ostrom, the Nobel Laureate in economics, once conducted an interesting experiment to study the way people manage their assets with or without government intervention, and came to the conclusion of the tragedy of the Commons - excessive consumption will harm everyone in society.

The freedom brought about by the Internet and social media may deplete the inventory and value of content. Once any work is put on the Internet, the marginal cost of copying it is zero, and the price of the work is basically zero. This means that no matter how much effort you put in, no one will pay for the work. Given this, more scarcity does bring benefits.

The duality of NFT just provides a solution to this problem. Some people are willing to pay a lot of money to establish a connection with an art or music, but the work can still be viewed publicly for free (just like some people are willing to pay for an album even if they can hear songs for free). This duality can not only keep the openness of the Internet, but also bring material rewards to the original authors. In the future, this may subvert people's awareness of the openness of the traditional Internet and build more demand for digital scarcity.