Preliminary research on the star of the NFT industry

The early vision of NFT, the full-fledged and market-leading cryptocurrency industry, is changing the model of finance, debt, and the internet, but NFT will change lives and people's culture. The NFTs for the first time changed the difference between the numbers and strengthened the legacy.

This article explores why NFTs can be very profitable for the industry and compares the emergence of key concepts for the NFT industry.

Our Reason NFTs Offer Financial Benefits to Developers

If the internet can improve the global economy quickly, we can build a whole NFT-based business.The cost of manufacturing NFTs is almost zero.No ability required to build NFT, only coding skills are required. Based on these concepts, NFTs slowly became the key to allowing celebrities outside of the crypto world to enter the crypto world, and as fans slowly became the heart of NFT consumption, we have no choice but to recognize that the NFTs have created a bridge of conflict. . connected to the real world.As a central hub for the integration of digital NFTs, the business platform can not only provide better business opportunities for both parties, but also enhance business advantages.

The NFT trading platform eliminates the middleman.When you buy NFT on a blockchain it means you have everything just like you bought real world art. Unlike traditional markets, NFT marketplaces do not have a third party middleman, so the cost and ownership of the unique product still depends on the manufacturer and the user.

The NFT trading platform uses fine prioritization and the granularity of cryptocurrencies allows buyers and sellers to capture areas of the application curve.Comparing the three models in the figure below (the similarity of revenue in the advertising model and the one point difference at Starbucks), the reasons why the NFT trading platform will add more than the previous two types if it can be subdivided. NFTs can generate low costs depending on the price level. The cost of NBA TOP Shot cards ranges from a few dollars to several tens of thousands of dollars. For example, recently released a new decentralized project called Fractional which allows NFT owners to tokenize part of their operations so that they can buy and sell part of their entire NFT. You can buy as many NFTs as you want, reducing your initial purchase.

Reduce customer costs to zero by empowering users to own.In the traditional sales model, most of the spending goes to consumers / customers who get paid, usually through online advertising or retailers. In contrast, the total market cap of cryptocurrencies has reached over $ 1 trillion with little to no market value. Reduce unnecessary advertising and sales links and make users feel more and more fluid.

NFT Industry Market Events

Currently, the best NFT trading platforms are (ranked by market value of 6.15):Opensea, Nifty Gateway, Rarible, SuperrRare, MakersPlace, KnownOrigin, Async Art, VIV3.

The number of users, market segmentation, and data for each industry segment have been compiled by CryptoYC, the eight largest NFT crypto art platforms as of June 15, 2021.Opensea, Rarible, SuperrRare, Nifty Gateway, MakersPlace, VIV3, Async Art, and KnownOrigin sell for $ 1,213.05 million.. Currently, NFTs represent over 1% of the total cryptocurrency market capitalization. After many years of development, the NFT trading platform plays an important and indispensable role in the market, liquidity and price volatility. Large markets develop slowly, and application scenarios and ecology are also enriched. Next, let's take a look at the differences between the major trading platforms.

open

Known as the “eBay of Blockchain”, Opensea is positioned as the market leader in decentralized exchanges (NFT aggregator) offering peer-to-peer (P2P) token exchange based on Ethereum.The project started at the end of 2017 and was launched in 2018. Opensea supports acquisition, sales, marketing, etc. by NFT. All NFTs and many other blockchains on Ethereum can be found on Opensea. Based on this, you can query the history of each NFT including location, retail location, etc. Several value mechanisms are supported on the platform.

1) Stable price

2) burning candle

3) Dutch injection.

Opensea charges a fee of 2.5% of the after-sales price of the product, and some parties also charge a fee equivalent to 7.5% of the exchange rate.In addition, the cost of fuel is only paid during the initial operation, which can further reduce the exchange rate.

Since Openea is a merger of the NFT industry, unrestricted involvement minimizes the impact on access and is very well known to participants.However, the absence of a startup is detrimental to the performance of the platform. If the artist is not a specialist or the work is poor, it can be difficult to stand out from the crowd.

rarely

Rarely created NFT Administration Token (RARI). The token is a community platform, open source and unattended.In 2020, Rarible announced its own unique control system, ERC-20 (RARI), allowing all users to create and sell digital devices without coding skills.

Among them, the most active developers and developers hold ARRIs to obtain policies, vote for changes to each platform, and participate in management and oversight.Like Opensea, Rarible has a plethora of collectibles. Although the design was behind schedule, the announcement and promotion of management tokens made the project stand out from the crowd.

very rare

Founded in 2017, SuperRare is a popular internet digital art marketplace with a global network of digital artists and now has around 700 artists.SuperRare is based on blockchain technology and follows ERC721 standard, the whole history and art history can be traced on the distribution board and no one can lie or lie.Rare art forms can be easily created, sold and printed on the platform, providing artists with a place to store or trade art tools.

Another advantage of SuperRare is that the platform's unique promotion is one of the main reasons it still attracts so many players. Performers receive 85% of their income after their first sale and 10% of their second permanent sale. SuperRare is like connecting Instagram and Christie. All artists on the platform are invited, and only invited artists can create on the platform.This maintains a high level of professionalism of the platform. The platform provides a one-stop-shop service for creating custom storage NFTs, eliminating storage chains and cost saving steps, and reducing tedious operations.

good door

Nifty Gateway, the only trading hub in the middle of the above industries, acquired the crypto art trading platform through the Gemini digital currency trading platform in November 2019.As a result, users can trade cryptocurrencies and even purchase USD denominated NFTs using their debit card.After upgrading to Nifty Gateway 2.0, you can cancel your current benefits. A new version of Nifty will release the new NFT in about three weeks, and in the coming months, Nifty will work with the Royal Family to develop and launch the special tokenized product. Currently, the platform offers popular crypto theaters like Beeple, FEWOCiOUS, Mad Dog Jones, etc.

Nifty Gateway charges a discount of 5% and $ 0.3 per transaction.In addition, the platform does not pay for fuel. At the moment, Nifty Gateway is not warm, but after the introduction of common names of famous artists such as Beeple, the popularity of Nifty has increased due to the hype over IP. As a controlled and centralized NFT trading platform, many artists and users can access crypto art sites without having to own a cryptocurrency. Second, Nifty Gateway's participation is by invitation only, and it is a successful and slow process for the current NFT roster.Defining your position on the platform is difficult, but it shows that the platform has strict control over your work.

Bureau

MakersPlace is an NFT exchange with the ability to create blockchain fingers for any NFT."Artists don't need a deep knowledge of blockchain technology in MakersPlace. Just provide a photo of your ID and you can create ERC-20 tokens in MakersPlace to change their position." to operate in order to ensure the accuracy of the product and at the same time promote the operation of the system.)

MakersPlace typically charges a 15% discount on exchanges. At the same time, MakersPlace is also one of the few NFT trading platforms to accept fiat currency. Unlike other exchanges, MakersPlace provides a relationship to developers. MakersPlace has created a "Good", "Follow" and "Watch" interface for developers. This way the manufacturer can determine which project is popular in the community as well as how much it has been sold for. You can determine popularity by the number of likes, followers, and likes, and you can determine popularity by looking at the number of likes and clicking on a function. . The platform uses platform marketing a lot and this is one of the reasons it has become the main platform.In fact, the relationship between NFT artists and their fans or users in one way or another affects the sales of their operations and the growth of users.

VIV 3

VIV3 is the first NFT developed by Flow, and one of its most important features is its configuration.In particular, VIV3 supports all applications in the Flow ecosystem by creating a smart contract for each foundry industry, which makes it easy to integrate operations and achieve multiple configurations, lift and performance.

The VIV3 trading platform also offers smart contracts, NFT conversion and exchange rates, and shared trading income, which is 12.5% ​​(paid by vendors). . As a first author, you will also receive 10% of the income generated for each sale of your work.Flow is now the largest public NFT channel, and it has the advantages of low cost, low latency, high throughput, eco-friendly and user-friendly experience compared to Ethereum, where thousands of people are crippled or get very high prices.Therefore, VIV3 is based on the proprietary NFT Flow chain, which can meet the specific requirements of this situation.

asynchronous art

Async Art is a programmable crypto art platform developed by Ethereum, where developers have released NFT tokens.An asynchronous piece of art consists of a 'master' token and a 'set' token, the latter containing tunable items that can be traded at the end of the main token. These digital images are constantly evolving, either thanks to the collaboration of authors, or thanks to data from the written press.

A 10% exchange rate is charged on all exchanges. 1% discount applies to sales. For Async Art, the artists are recognized, there are new sales (for example, the sale of several paintings) and the possibility of benefiting from a second sale of Async Art.On many platforms, Async Art may have its place, and its programmable nature adds interest to working with NFTs depending on the uniqueness of the platform.

know the story

Founded in 2018, KnownOrigin is the cheapest crypto art trading platform in existence.KnownOrigin charges 15% on sales from the original exchange and 2.5% commission on sales. In recent years, KnownOrigin's intellectual property incubation and slow growth and adoption have made it less impactful than ever.

to want

As the TVN industry grows and the number of artists and performers increases, major changes are occurring in the ecosystem. The display and operation of the platform can not meet the needs of users, and storage and entertainment are built into the design to make users think about the platform. . Further development of the industry will not only improve the performance of the business platform, but also pay more attention to the management and measurement of the market.

Because anyone can create NFTs, trade has no regulators or regulators.This year, an artist announced on Twitter that his work had been sent to NFT auctions without permission. Although they quickly announced their position and blocked their NFT funding, it was found that many artists also suffered from these issues and appeared unauthorized on NFT business sites.

NFTs can track data exchange and authenticity of operations, but operate without limited NFT history.Due to the anonymity and dissemination of the NFT, each position can be applied individually. Another problem is that on commercial platforms, NFT artwork can take photos and store videos, so that they can lose their insufficiency. Any work checked out or stored by the user will always have the same benefits as the original digital works. Users can also modify and re-download NFT functions to create and minimize NFT members. Therefore, the abuse of NFT and how to solve the harassment problem, and even corrective action, the NFT market will remain a challenge for the future.

Additionally, one of the biggest issues with NFTs now is the NFT exchange rate.You want the same oil prices regardless of the size of your business. Although oil prices have now been lowered to some extent, multiple interactions are still important. As the prices fell, the range of products grew.