How does NFT continue to 'break the cycle' to explore the value behind it?

That year a wave followed the wave of the NFT and its popularity continued. In the fast-paced world of crypto, NFTs have embraced many new ways of playing games, including avatars, graphics, gaming accessories, virtual real estate, and music albums. NFTs seem to have no end. With the recent support of meta-globalization, NFTs continue to “break the cycle”. Incomplete data shows that over the past two months, many companies have signed up and issued their own NFTs. , and art.

Why can NFTs continue to “break the cycle”? "Anything can be NFT", "Who can be an artist", what is the NFT extension? How long will the NFT heater last? What do we mean by the cost of DFTs?

Many companies and organizations are involved, and NFT has become the sweet potato.

The concept of NFT received wide attention after Beeple's NFT art auction at Christie's auction for a luxury of $ 69.34 million. Many international brands including LV, Tencent, Ali, ByteDance and other high-tech financial companies have joined the NFT line one after another to occupy this high position. Specifically, as these models accelerated in the first half of this year, many sports, luxury goods and nutrition companies are posing as NFTs, and NFTs have even "infiltrated" officials. Have a vision and celebrate. . Today, NFTs have been a popular, listening-oriented topic since the early days of the crypto art world. Next, let's see which companies and organizations have just entered the NFT field and how they perceive NFT.

First of all, in the field of encryption, many companies have announced their intention to launch NFT related blockchain games or start the NFT trading business.

Animoca Brands, a well-known sports company, announced on December 13 that it was partnering with the NFT Bored Ape Yacht Club (BAYC) project to launch blockchain games with P2E mechanism using BAYC NFT. Q2 2022.

The trading and exchange also paved the way for NFTs, Ouyi has a good understanding of this and started NFT marketing early in the middle of the year to help the NFT ecosystem. Additionally, the Korean platform Kraken recently announced that it is expanding the NFT market, and its release is slated for February of next year. Platform CEO Jesse Powell believes next year will be the year of the NFT. The platform also plans to work with Animoca to release P2E games. On the other hand, Indian tech giant Tech Mahindra will also be launching the NFT industry in the coming weeks, allowing many developers and celebrities to tokenize rare digital images and nco.

Second, in addition to the above companies, well-known news and many well-known companies have also started to join the NFT group. On December 22 at 8:00 p.m. on December 24, Xinhua announced that this would be the first time to open a ban on Xinhua users through NFT blockchain technology. It appears that the '11 series collections are pre-published, with each book limited to 10,000 pieces, all free online. Many media outlets, including News Communications, have already reported on NFTs, and this time in China, the first set of “digital news collections” is the most important in supporting the NFT concept. .

Then there are a few famous restaurants and clothing stores, including announcing that Nayuki Tea has entered the meta-world on its 6th anniversary and is a leader in the field. released their own NFT digital collection in China. Later toys adidas, Pepsi, Coca-Cola and other companies: adidas released the first series of classic Originals games on December 17th, the NFT series called "Into Metaverse". Pepsi launches Pepsi Mic. To commemorate the birth of Pepsi in 1893, we threw out the Genesis NFT Series collection, which contains a total of 1893 collection.

Plus, it's not hard to see that the sports and entertainment industry is changing rapidly with NFT's massive expansion in 2021. According to a recent Basketball Network press release, legendary sportsman Michael Jordan plans to launch an NFT application platform and build a company called Heir Inc. Currently, the famous IP series NFTs not only have a large part of the market, but many domestic and foreign investors are trading, writing and supplying them even NFTs, and NFTs have also entered the "political field". Former US President Donald Trump's wife Melania Trump said she would sell the 'Cobalt Blue Eyes' fine art paint on Solana which she painted with 1SOL's NFT and used part of the proceeds to support the children's charity. Meanwhile, California Democratic House candidate Shrina Kurani, House candidate, unveiled the Solana-based 2022 NFTs as part of her campaign. The political experience of NFT has rekindled people's interest in this industry, once again proving the wide application and rapid pace of NFT.

Why can NFTs continue to “break the cycle”?

According to statistics from the nftgo.io website, the global NFT market has reached $ 1095 billion with more and more people and large companies participating. Understand the rapid development of NFT today in the work of many of the names involved in NFT above and the application of NFT. From crypto art and materials to avatars, music, games, metamondas, public service products, streaming media, content distribution platform, etc., NFTs have become the popular gameplay toy of the niche crypto art cycle. So why can NFTs be measured so quickly?

First of all, the unique features and potency of NFT is one of the reasons it is so popular at such a price. The name of the NFT is non-fungible token, which means a non-homogeneous token, and it differs and is not acceptable compared to BTC and ETH. These features enable NFTs to deliver new digital property information and connect to all aspects of value including legal, artistic, cultural and cross-cultural applications, dollars, housing, security, virtual assets. and imagination. Additionally, NFTs are carriers of value like Bitcoin equivalent tokens, allowing them to become a peer-to-peer global business with low levels and good potential. This makes the capabilities of NFT very satisfying.

The second reason is the help of the public play and break chain according to the concept of meta universe. With the rise of keychains this year, the concept of blockchain and meta-universe games has exploded. Behaviors such as writing and touring as well as value retention have been effective in supporting the metaspatial industry and further supporting NFT fragmentation. Using the world game "Decentraland" as an example, each land in the game corresponds to the NFT, indicating that the owner of each NFT is the owner of that land and can create and modify it. Thanks to the popularity of the meta-world game, the value of NFT virtual real estate has also been wiped out. The Decentraland virtual lot has sold for up to US $ 927,000 in the last 7 days.

The third reason is the finality and the famous effect. More and more artists, performers and artists have launched their own NFTs, which are sought after by many, and many international brands and big companies have added to meet their business goals and support the temperature of NFTs. And a lot of these NFT projects sell for thousands of dollars all the time, and the earnings run hundreds of thousands of times, attracting more people to the area.

Therefore, the reasons mentioned above are the main points which have recently promoted DFTs from a single source to a wider population and led to greater contagion. Enforcement of NFTs changed the rules of the game across the marketplace, allowed blockchain technology and games to change the middle ground, and empowered everyone involved in the development of the metaspatial world.