NFT Market Guide 39.43 million NFT products available to choose from

Countless investment pitfalls are behind the success of the NFT industry, and for the little ones mentioned in this article, this will be an easy test site to assess whether the NFT project is worth the investment over the long term.

Based on NFTSCAN browser real-time data, nowAs of January 14, 2022, a total of 39.43 million NFT assets have been delivered in Ethereum, 29,570 million NFT devices have been distributed, 64.73 million chain units connected to NFT assets and 37, 97 million wallet locations.Additionally, a number of non-Ethereum NFT assets,An average of 100,000 coins are added daily.Undoubtedly, the NFT sector we are focusing on is an innovative and creative new industry.

the past2021In 2008, field NFTs began a difficult journey. Every day we open our eyes and see a new face. From Cryptopunks to the Bored Ape Yacht Club (BAYC), from JPG avatars to Loot programmable assets, and from Land to the Metaverse, NFT sites have never stopped innovating. Whether short or out of reach, areas of NFT, connected to new blood vessels, can surprise. After market ups and downs, there are only a handful of NFT projects that can be solved and improved. The figure below shows the leaders in the field of NFT.

Deployed from Ethereum based on current data29570 and othersA smart contract that matches a name that can give a name to the current market30Come to a good heritage NFT project, then the success of the NFT project will be0,1%. When you think about it, those numbers are pretty scary.1000A single NFT real estate project can produce a good NFT project to invest in. For the average trader, this number means that after the success of the NFT sector, countless investment pitfalls lie ahead. Therefore, based on this, we would like to share some past experiences that we believe useful from the perspective of forensic experts in the field of NFTs and NFT traders. .

How to determine if an NFT project can improve to become the best blue chip, I think can be identified in the following.

Expression of Interest: I like and have a Doodles service, which I believe is a commercial measure. Therefore, in the following terms, I will sometimes use Doodles as an example for better understanding and explanation.

Standard Procedures for NFT Assets

Currently, most of the old NFT protocols are ERC-721 and ERC-1155 protocols. NFT assets with robust capabilities are typically the ERC-721 protocol, while the ERC-1155 protocol is more prone to NFT industry scenarios with robust equipment. .

For the NFT legacy protocol, it is typically inspected at the NFT asset contract level to determine if it is ERC-721 compliant. Here are some bad things. Cryptopunk does not follow the development process in time due to the early distribution of the asset contract code, and the result can be explained by four drawbacks. Cryptopunk is not an ERC-20 token-type asset or an ERC-721 Model NFT-type asset, and also has its own built-in trading capabilities. This forces the following NFT frameworks including Opensea and NFTSCAN to be integrated, which creates a lot of problems for developers.

So, based on the protocol review of NFT assets here, we confirm that the contracted assets of NFT projects are still compliant with the ERC-721 protocol, which provides a good foundation for future growth.

How to Store NFT Asset Metadata

It doesn't matter that NFT can access metadata if it's just a receipt or a certificate, but most of the NFT assets we transmit are now eligible for value. Metadata capability and security changes currently as more attention is paid. This is a very important factor that is an integral part of NFT as an investment asset.

According to NFTSCAN data analysis, there are currently four ways to store NFT asset metadata.

It is stored in blocks on the blockchain network. General Base64 type: data: image/svg xml; base64, PHN2ZyB3aWR0aD0iMjkwIiBoZ…

For example, LP NFTs on Cryptopunk and Uniswap V3 are stored in blocks, which is the most secure way.

It is stored on the node server according to the IPFS protocol. Format: QmYBYWMwGcyn1GoettFnn4yzpzRUwtaYrt3XscsxcyN6hD

For example, Doodles, BAYC and other large companies use IPFS protocol storage and are highly secure.

It is stored on medium servers, multiple cloud servers. General formats are:

It is the best and cheapest way of storage.

There are also a few projects that use the Arweave network for storage.

The classifications above show that the retention of NFT inventory metadata is not uniform and is not standardized. At the same time, such large data, which is not the standard NFT, creates a lot of trouble for manufacturers in the industry, requires a lot of personnel and considerable effort to identify data, text and design. Recently, Math, in conjunction with a third party from Protocol Labs and NFTSCAN, is preparing to store metadata for NFT devices in IPFS and model access. Going forward, NFTSCAN Open API developers will benefit from these benefits.

NFT Work Developer Release Rights Degree

The level of legal release is important to the NFT project community as it reflects the leadership and further development of the NFT community. If the ban was in place, it would be difficult to develop a community based on the NFT heritage, whether in the second stage of development or commercialization.

There are three types of legal advertisements.:

Copyright is completely open. In other words, the law is the owner of the NFT, and whoever owns the NFT property is the owner of the NFT equipment and can do business. An example is BAYC NFT.

Copyright belongs to the design team. NFT insurers may not be satisfied with the rights of the assets contained in the NFT assets. An exception is CryptoPunks.

Team building restrictions on civil rights. Allows NFT holders to perform small-scale trading experiments. One exception is Doodles, which allows businesses to try for less than $100,000.

Of course, we opt for fully open legal NFT activities, closer to the blockchain theme and more popular with the community!

The scalability of the content of the NFT tool itself

With Doodles and Jaylen Bear PhantaBear everyone will understand what this means.

Obviously, the main theme of Doodles NFT is its ability to be effective, unique and very attractive. However, unlike PhantaBear, the scalability is also poor and not even scalable. Some people here can say that I am applauded and that Jaylen did well. If so, it can be said that the success of Jay Bear is not in the design of the NFT itself, the importance of Jay, be it a bear or any other animal.

Ability to work on an NFT project as a team

We all know that peer-to-peer tokens rely more on cash; In the case of NFTs, they rely on Web2 traffic because they are not inherited. Yes, I just read internet traffic. Because there is enough traffic and the product is visible, you can change a lot of buying power. In verse 4 I mentioned that Jaylen Bear was a bad guide, and here is the case of Jaylen Bear's success. We see the so-called success because Jaylen Bear captured the power and drive of Jaylen.

The operational capability of the NFT project team demonstrates its ability to detect vehicles. How it stands on 1,000 NFT projects in this complex NFT industry not only depends on the quality of NFT itself, but also on the ability of teamwork.

We all know that blockchain networks and processes are basically a cooling system and this product is very objective. Transporting and investing can't be accomplished in an incredible process, but it can carry bears like Jaylen through the skies. Since the end is not the goal, his life is made up of details.

Financial assets of NFT assets

The financial characteristics mentioned here are directly related to the benefits of holding NFT assets in this position.

In general, there are two types of rules and preferences: the right of use and the right to the beneficiaries (distribution policy).

A license is a permit or PASS for a specific event that can be obtained by owning the NFT tool. Income policy means income from investments or distributions that can be earned through the availability of NFT assets.

Here is an example of Doodles with DoodleBank for price capture and revenue distribution.

Product of the Doodle project in the market and proceeds of export to Doodle Bank. Of course, there are many sources of income that are not described here.

Therefore, the most important step in the research of the NFT project is to analyze the finances of NFT assets to determine whether they can generate value and security. Moreover, the strength of the fund is directly in the measure of the NFT itself. The stronger the financial quality, the more popular the NFT assets are in the market and the greater the potential for aversion.

Most NFT assets are bullish and bearish stocks. That is, the property when there is traffic, and the aircraft when there is no traffic. So how can we change this situation? Then actively upgrade financial assets when NFT assets are financially strong, they will still be trading assets and there will be less traffic.

In summary, the above points form the basis for considering whether an NFT project is worth the long-term investment.

Additionally, NFT tools are durable tools that are not specialized fluids, so they require patience and perseverance. When the car arrives, you have to take heart, and performance can affect the value of an investment.