Jay Chou's 'Bear' Makes the Bearish Crypto Market Less Bearish

While the cryptocurrency market in 2022 does not look friendly, the Fanta Bear NFT has warmed up during the cold winter.

On the evening of January 10, 2022, BTC had already fallen 6% to $ 39,774, down 14% since the start of the year, the worst start since birth. Although it has since recovered, it has recorded the biggest drop this year, up 14%, and the biggest start since 2012. Bloomberg Intelligence analyst Mike McGlone reports that $ 40,000 is a level significant technological production for Bitcoin, and the price of the cryptocurrency reflects its current downside risk, indicates the arrival of a bearish crypto market.

But on the other hand, the NFT industry is booming. As of January 11, Fanta Bear's total revenue exceeded $ 60 million, via Adidas Originals. Jay Chou also took to Instagram last week to celebrate Phanta Bear's # 1 spot on the OpenSea packaging charts:

Obviously, with Jay Chou's blessing, Phanta Bear NFT has become the hottest winter crypto “bear”.

In fact, Jay Chou has always been "the love" of the art competition. Earlier in June, Sotheby's held an “Asia | ShuJ x Sotheby's full. 9 artist auction records. And this time, Jay Chou's fashion brand Phantaci and blockchain entertainment platform Ezek have teamed up to create Phanta Bear NFT with great success. As of January 1, 2021, a total of 10,000 NFT Pantabear have been sold for a total of $ 10 million in less than 40 minutes. These Phanta bears were sold for 0.26 ETH, which equates to almost $ 1,000 each. Some Phanta Bear buyers resell these NFTs on the NFT OpenSea trading platform for a high price, with the highest price going up to 20ETH (up to 77,000 US dollars). ~

Affected by the Phanta Bear NFT craze, BTC quickly recovered in the $ 42,000 range, bringing the total market value of the cryptocurrency to over $ 2,000 billion.

What is the Panta Bear NFT?

Like some NFTs like Cryptopunks and Bored Apes Yacht Club, each Phanta Bear NFT is unique. For example, each bear wears a Phantaci dress with a different design using different colors, backgrounds, fashion accessories, and accessories that they carry in their hands. Phantaci, best known for being directed by Jay Chou, wants to create a new kind of NFT that transforms real fashion clothes into virtual Phantom Bear costumes to create characters with a variety of graphics. Additionally, Big Star plans to introduce virtual NFT clothing that can be used in metaverse games as well as real-life clothing.

As a legitimate website, EZIC is now focusing on virtual reality and plans to open a special clubhouse for Metaverse members. The Phanta Bear NFT can be used both as a concert ticket and as a symbol of entry to the Metaverse Ezek entertainment platform. ~

The day before the Phanta Bear NFT announcement, Jay Chou and his wife Kunling announced their New Year's gift, Phanta Bear NFT, in a statement. Among them, Phanta Bear # 10000, who received Zhou Tianwang, expressed his passion for the sport of wearing a baseball jersey with the phrase '18' on his birthday, holding the basket next to him with his left hand. and the basket to its right. Phanta Bear # 8938, presented by Kunling, holds a bowling ball in his right hand, with a bowling ball in the background.

However, JVR Music, a label created by Joo Jae-beom, said on its official Weibo on January 3: “Joo Jae-beom was not involved in the plot. , operation and management of this business and no income. satisfied with these good sales.

However, as these remarks did not appear to have had a negative impact on Fanta Bear's NFTs such as Mayday, Lin Junji, and Edison Chen, all reported NFTs on Instagram and received more short-term care. According to previous announcements, the NFT platform Ezek reported in the news that Phanta Bear NFT will also announce its roadmap on January 10th. They plan to start community voting in the first quarter to select 4 Phantas from the Phanta Bear NFT collection. The bear will appear in the Phantaci Spring 2022 Body Collection, purchase virtual land on Metaverse, build a members-only clubhouse in the second quarter, work with documentaries and movie studios in the future, and stream to members in Q3. Donate for virtual concerts

There is no doubt that this celebration played an important role in the development of the Fanta Bear NFT. so--

Does reputation affect the NFT industry?

To be fair, aesthetic benefits have also played a role in the NFT market which can explode in no time. From the first NBA star Stefan Curry to the fortunes of countless Hollywood stars, he has attracted many fans and audiences. In addition, the blockchain data could not be generated and it was appreciated by many authors for its scarcity as it was able to identify and verify that the purchase of NFT was true at all times.

However, there is a lot of controversy surrounding NFTs. Some see it as a new opportunity to build wealth, while others see it as a new way to harvest. There are people who think that NFT on its own is worthless, and why it can sell for a high price is often referred to as the “understandable price”. However, there are those who think that the potential of NFTs is good, for example, NFTs can help clients achieve personal and social integration in the virtual world. Because each NFT is unique, it lists individual and member rights in "metaverse" terms. This is tantamount to replicating the uniqueness and rarity of real-world items in the Metaverse.

The concept of "metaverse" has now created a revolution and its participants are mostly young people born into Generation Z and above. Work from home, spend more time in media and online meetings due to the new virus, allow more people to feel the impact and change of real world and virtual stages, and participate in building the "metaverse". It's no surprise that TVNs receive more attention than young people actually use.