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In the Lunar New Year, in the wake of music superstar Jaebum Joo, Fanta Bear NFT attracted countless hits, and the following setbacks rushed to gold mining, leading to internal and external discussions on cryptocurrency, and again the first fire. NFT in 2022. Not only Joo Jae-beom, but also many famous artists and companies buy or participate in NFT news, indicating that NFT users will continue to explode for more years.

So why is NFT still associated with recognition and prestige? Can a growing business improve health through the star effect?

Why do stars enter the NFT?

Celebrities and big names bring real cars to NFTs and have a big impact on NFT prices, so it's not difficult for parties to use celebrities for marketing. This is even more true in the recent case of Juju-Jae-beom and Fanta Bear.

On December 18, 2021, Jay Chou's trending brand PHANTACi announced that it would be announcing an NFT venture called Phanta Bear of the Chinese New Year in partnership with NFT distribution platform Ezek. The Fanta Bear advertising companies are in the hands of the big culprits and have been given all the attention and support. On January 1, the Panta Bear NFT went on sale and the EJEC legal site was flooded.

But Jetto 'SperyVE Compined Compined comment on Weibo, and the behavior of the Puta bear does not close. Pha qa's loss for the amount of opensa and the bottom price is broken and 0.33th.

Subsequently, the case was dismissed. Joo Jae-E and Kunling swapped their Instagram avatar accounts for the Fanta Bear NFT, and on January 6 announced support for Panta Bear again. . After that, the OpenC Fanta Bear NFT sell price returned, and as of 3:00 p.m. on January 6, the average Fanta Bear NFT price is 0.786 ETH, up 202.3% from the issue price.

Fanta Bear Transaction Data Source: NFTGO

The reversal of many mishaps has led to significant changes in the cost of NFTs. Also keep in mind that the Phanta Bear NFT itself is not very effective. The person who played a key role in the Phanta Bear NFT and the next value addition is Jay Chou. Most stars will be NFT here for the sake of Jaebum Joo and the Superstar Gigi spot.

What people have benefited the most from is the share capital value of the Fanta Bear NFT.

If you look at the development of Avatar NFT in 2021, you can see that from face hash to cryptopunk and BAYC to name, the human quest for beauty is slowly diminishing, while relational capital and added value have been steadily shrinking. More and more colors, more and more people. What interests me are people who use avatars from the same series, who live in the community, who can express themselves and be patient with the community. It's a new type of relationship that is three-dimensional than the existing Internet.

NFT activities featuring celebrities and well-known celebrities realize this idea. Many NFT projects either dump celebrities or invite them to join the company or stay. In fact, they have partnered with celebrities and celebrities from their communities to attract fans and users. In addition, the transaction history of NFTs is recorded and extended on the blockchain, and reputable NFTs can be purchased and kept by fans at a high price.

Leveraging this feature, 2021 is the year of breaking the concept of NFT with a wave of celebrities and well-known brands entering NFT. Luhan, Lin Junjie, Edison Chen, Xu Jinglei, Shawn Yue and other stars are NFT avatars, various technology companies (Tencent, Alipay, Mega, Microsoft, Twitter, etc.), media platforms (Time Magazine, CNN, Vogue, Xinhua, etc.), consumer products and major IPs (Nike, L'Oréal, Coca-Cola, McDonald's, Disney, Sony, etc.), politics and political business (Jack Dorsey, Musk, Snowden, Melania Trump, etc). ) All purchases, NFTs or layouts in this area are disclosed. Even the use of NFTs to create rare rules and knowledge of relationships has become a competitive vehicle for the industry.

NFTs are popular as digital tools that anyone can understand, and social NFTs have better understanding than traditional data such as words and text. With the advent of the masses in the entertainment industry, the concept of NFT is slowly gaining traction and is loved and accepted by many people. Today, NFT has been able to transform the fan industry and industry relations into the widespread use industry, and gradually expand the electronic circle.

But at the same time, the star effect is a double-edged sword and also carries risks for the NFT industry.

What are the dangers of fame in the NFT market?

First, the attitude of the fans is often guided by thoughts and can be deceived when making decisions. For example, a brand called Ethereum Max, formerly sponsored on social platforms by Kardashian and boxer Floyd Mayweather, used that name to trick traders into believing they were buying Ether. These celebrities may not know they are supporting scammers, but they are paying real money to their fans.

Of course, these scam schemes are just the tip of the iceberg. The participants will gradually grow and appreciate the consequences of the project. The massive access of users from all circles can lead to greater disruption of the process.

For some NFTs, especially avatar NFTs, the value moves more through the community, and they're like assets, even if they don't have the same value as finances in general. Cultural heritage is difficult to quantify against financial assets, just as we cannot afford the value of art. At the same time, the demand for cultural products evolves with the culture itself, transforming the cultural bubble into a financial bubble.

Therefore, it is very difficult for users to determine the authenticity of NFTs. This is where the star effect and the power fan are featured. At the start of the release, many fans made a short-term purchase or prepared for the project during the warm-up period. , it can cause pomo emotions in non-fans and create large-scale "data cascades".

What is a cascade file? We know that the lower the waterfall, the bigger the waterfall and the bigger the impact, the same goes for how the waterfall information communicates, because the latecomer decides, the signal will be interrupted. Those who arrive later, and in extreme circumstances, those who arrive late may also change their expectations or attitudes.

Additionally, since each NFT is unique and often sold in small quantities, vendors can easily create differences in equipment and demand, causing crowds to expect "future prices to rise". Thus, in the short term, everyone buys and attracts speculators, overprices, creates a real stand, strengthens the reliability of an uptrend, and even encourages and deepens the location of the long-term project.

In the aftermath, we can see the effect of the star and the important role of the fans. The fans of the first group did not decide to market pure mix with various methods of thought, but became the first waterfall box. , after the rise, it will attract outsiders, such as the curious and immature.. Not everyone follows the blind, data asymmetry Some people think that everything seems necessary, and some people feel the hype. 'not seeing and not paying for the affected areas and fueling the consequences of commercial enterprises.

But the success of the cascading case design is impossible. The recovery force is powerful enough to affect the data in cascade. As in the Fanta Bear NFT case, Jewel Music suddenly ignored the relationship between Fanta Bear and Josie Yi, and Fanta Bear NFT was immediately removed. From. Even in a heart, people justify each other bang bang bang bang bang bang bang bang bang bang bang bang bang bang bang bang bum pound pound pound pound pound pound pound pound pound pound pound pound pound pound pound pound pound pound pound pound pound pound pound book book book book book book book book book book book book book book book book book book book book book book book book book book book book book book book book book book book book book book book book book book book book book book book book book book book book book book book book book book book book book book book book book book book book book book book book book book book book book book book book book book book book book book book book book book book book book book book book book book book book book book book book book book book book book book book book book book book book book book book book book l drunk book book book book book ) books worse.

One more, other students are named of the waterfall file is "the information not completed", but they choose the finished data, but with the Time, the incomplete information will be completed. In addition, the investors can reach the symmetry because the asymmetric material is divided.

epilogue

In short, the culture and relationships of NFTs encourage collaboration with a wide range of actors and actresses, and make getting out of the circle easier than any other way in the crypto space. However, such business models may not be a long-term solution. Some written NFTs should continue to seek more valuable support and improve several applications.

As Buterin told the Ethereum Community Forum: I hope NFTs can benefit not just celebrities, but the community at large.