Where is the next "tipping point" for NFTs?

The NFT establishes special laws about people and things, which can be seen as the basis for humans to move forward to the virtual world, the metaverse and the Internet of Things, and attempt to innovate in relationships. virtual and real world.

Based on the landing application of blockchain technology, NFTs can be embedded in digital devices and cover everyone online, but why did NFTs become so successful the first time around?

From the perspective of technology development, Fudan University Faculty of Business Administration, Department of Information Systems and Information ManagementZhang ChengThe expert believes that NFTs address some of the grievances of the art industry by creating unique value and identifying rules through the ingenuity of visible products and visible results.

Professor Zhang Cheng had an exclusive interview with Wen Wei Po to find out why early NFTs were so popular in theaters and the next "tipping point".

increase sensitivity

"Bitcoin Visualization"

NFTs can take the lead in the show, and Beeple's dizzying auction is undoubtedly a "trigger point" that could effectively help NFT's "newborn" to "quickly break out of the circle" and move on. extend to various disciplines. . However, if we finish this year the best visuals, most of them have to do with art design and artwork. After Beeple, Christie's in May auctioned a batch of NFT products including nine cypherpunk heads, valued at $16.96 million.

"Compared to other blockchain applications such as Bitcoin, NFTs have taken a different path in value creation."Zhang Cheng believes that the main difference between NFTs and other blockchain technologies is that they are unique, invisible, non-counterfeit, rare, and have some value. In essence, the best-case scenario for a "killer app" is digital right protection, i.e. recognizing the value of a unique symbol.

If you look at the characteristics of NFTs, you can understand why they are so close to design art and the art market. Zhang Cheng believes that works of art are the kind of industries that are in demand and have unique characteristics. Two things to keep in mind here:on the one hand, the value system of a work of art, the value of a work of art is determined by the individual world, and has a collection value and a respectable place.on another side, the discrimination of authenticity in this field has always been a headache for this industry, because authenticity is the basis of the production cost, and counterfeit products are generally inexpensive. And NFTs can not only solve the problem of authenticity by special code, but also add function data to these systems to solve the problem of exchange and cost reduction. .

Beeple 《《Daily: First 5000 Days》

The fact that NFT can become famous in the art world if it presents new 'street art'. Going back to Beeple's celestial artwork, it's not a painting in the traditional sense, and it's not an easy work to use. The artist has been painting digital art daily since May 2007, under the auspices of the 'Daily: The First 5,000 Days' show, and has continued to 'feed' for the past 13 years. create computer hardware, and the end result is an encrypted operation. of art..

From Zhang Cheng's point of view,It provides the blockchain industry with new ways to improve awareness and shut down the sanity of NFT participants."As a little picture is the need, people think this is more interesting and able to expand more than the boring numbers."

But he also believed.Encrypted art standing on a balloon can hold more bubbles than artwork and isn't really useful.. He also fears that the art hype tends to intertwine with other aspects of the NFT process, creating a greater competitive advantage.

Go Virtual and Real

New communication experiences

NFT was born from the blockchain and is involved in new developments. From Zhang Cheng's point of view, from the point of view of the machine itself, product distribution, storage, security, etc., NFT is also mature and has certain popular marketing potential. .

Aside from writing and drawing design, graphic design and other information, where is the next "tipping point" for NFT? Zhang Cheng believes:Combined with the inclusion of NFT's "specialized education and vision", industry-leading IP interference and enhanced performance such as legal video, gaming, social media, fun distributions and blind boxes can become "potential places"..

If you look at the current plans of internet gaming companies like Tencent, Alibaba and The9, they are all involved in digital rights. In August this year, singer Hu Yanbin's 20th anniversary NFT vinyl of "The Monk" was released on the QQ Music platform, becoming the first group in Tencent Music's "TME Digital Collection". The release of Asian NFT movie "In the Mood for Love - Moment", a group of NFT biographical movies, is also a sign that NFT has entered the film industry.

Zhang Cheng argued that the meaning of "landing activity" was temporarily ignored,We can say that the emergence of the NFT opens interactive interactions between the real world and the virtual world..

"NFT establishes the special rights of people and objects, which can be seen as the basis for people to move to the virtual world, the metaverse and the Internet of Things, and it is also a new attempt to transform into a relationship between the virtual world and the real world." According to him, if the robotics industry improves to a certain extent, it will be able to connect NFTs with intelligence, which will lead to higher demand.

However, Zhang Cheng also added:The commercial development of NFT is very popular, and the technology is becoming more and more mature, but its application is still in its infancy, and a better, more stable and better business model has yet to be explored..