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What is NFT, the company that brought Elon Musk to the platform, for $70 million?

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It was itself a native product of the cryptocurrency industry, but parachuted into the real world overnight.

Recently, "New Knowledge on the Chain" launched the third edition of the column, the topic is "electronic pictures sold for $70 million, what is the NFT that brought Elon Musk to the platform?" Mr. Liu Gang, dean of the International School of the Central Academy of Fine Arts and doctoral supervisor, and Mr. Sun Bohan, founder and CEO of BCA Blockchain Art, were invited as guests. Hu Biao, researcher of Rhythm Blockbeats, hosted the guests.

The following is a condensed transcript of the dialogue:

Hu Biao: Welcome to the third episode of "New Information on the Chain" co-hosted by Tencent News and Rhythm Blockbeats. I'm Hu Biao, NFT researcher of Rhythm Blockbeats. So in the last two videos we've talked about the Bitcoin madness and the growing acceptance of Bitcoin from a niche geek to a mainstream asset allocation on Wall Street, another new term is sweeping the headlines in the tech, financial, and even fashion and culture media: NFT.

It was itself a native product of the cryptocurrency industry, but parachuted into the real world overnight. On March 11th an NFT by an artist sold for $69m at Christie's, a top auction house, making it the 53rd most expensive work of art in the world's history. It was like a spark that exploded the concept of NFT.

As we talked about earlier, technology, finance, even sports, culture, fashion all started to look at NFT, asking what is this? Where did it come from? Why is it so hot? The wealth effect that follows the popularity of the NFT concept is equally astounding. The CEO of Twitter sold his first tweet, written at 9:50pm Pacific Time on March 21, 2006, to NFT for a whopping $2.9 million.

In another NFT game about the NBA, a Slam Dunk shot by the basketball star LeBron James also sold for 208,000 US dollars. In the cryptocurrency field, NFT-related projects started to rise in the secondary market. In the US stock market, the valuation of the leading NFT concept in Hong Kong soared 50 times in a month. The A-share NFT concept has also attracted A lot of financial attention. From art, collectibles, stocks, music, articles, games, even A post on A social network, so to say, anything can be called an NFT. The concept of NFT has gradually entered everyone's life.

So in this program, we have invited two guests, one is Liu Gang, dean of the International School of the Central Academy of Fine Arts and doctoral supervisor, and Sun Bohan, founder and CEO of BCA Blockchain Art, to talk about what NFT is.

First of all, please introduce yourself to introduce how you got involved in the crypto field.

Liu Gang: I also started an art website for college students very early on, because it is engaged in the Internet, in fact, my website is not a website, I teach a lot of contact with young people, heard about the block chain this matter. It's 07, it's not 07, it's 08, it's like that's the time.

Sun Bohan: Mr. Liu Gang is my graduate supervisor. At that time, I first came into contact with block chain from Mr. Liu. Mr. Liu started Dayi.com very early and once participated in one of his projects. One of the topics discussed at the time was what blockchain could do to empower the art industry. The time I remember very clearly was in the first half of 2017, when there was very little discussion about this in the market.

It was also because of Mr. Liu's recognition of us, my recognition of digital and computer, saying that I should do more research on this. Indeed, I became particularly interested in this concept after I understood it, and then combined with my own creation.The BCA Blockchain, which is around the crypto art ecology, including the earliest decentralized trading platform in China, as well as BCA's design studio, BCA's standards, BCA's education and terminal and fund incubation plate.

Host hu biao: thank you two teachers. In fact, two days ago, I believe that both teachers have also paid attention to this news. Takashi Murakami, a famous Japanese fashion artist, also began to sell his NFT works and put his Little Sunflower on Bitcoin. Compared with the outbreak of Bitcoin, it attracts more investors, while the outbreak of NFT attracts KOLs and IPs from all walks of life, such as traditional art, music, culture and sports. It makes more people who are not interested in finance, but also makes more people outside the crypto field start to understand the blockchain technology.

Although there are a lot of Internet media, the technology press has written a lot of articles about what NFT is. However, there are still many people who do not understand this concept. I would like to ask Mr. Sun to explain what NFT is and why it can be so out of the circle.

Sun Bohan: NFT everyone can understand, first of all, for it is a kind of high quality digital asset proof, or all the advantages in the chain, combines the blocks to digital either image, or video, and so on this kind of digital assets with an identity, or if it is in the previous block chain ring, friends can be understood as this is a (18: The Token is such a thing.

Host hu biao: why can get the attention of people in various industries?

Bohan: Because high-quality digital assets include many categories, whether it is cryptographic art, music, or a collectible, collectibles like cards, or tickets and so on.NFT may be used as a carrier to connect with many industries, so when this hot spot broke out, more people wanted to look for such an opportunity, to see what new possibilities there would be in the future. So, including the event like Beeple that you can appreciate some of the things that this industry has touched on. Probably is this meaning, liu teacher also can say once.

Liu Gang: In fact, I think the NFT is on the blockchain. The earliest I remember, it seems to be Bitcoin. The blockchain is a traceable thing, and the thing that can best be displayed is related to art. Because art is an artist imagined he painted it, so, for example, just speak of that photo is digitally can solidify into a picture, and also can be a streaming media, in a sense, or an identity, a copyright confirmation, just to make this currency at that time, must belong to a rare way, But at the beginning of the form, everything is a wave of sand, at the beginning of many, many things will emerge, slowly will find its own law, I understand this is.

Host Hu Biao: Thank you two teachers, can you understand that, for example, cryptographic art is to upload some pictures, digital pictures and videos to the block chain, and use the block chain technology to trace, verify and confirm all the environment.

Speaking of this, in fact, there are a lot of people can not understand the problem, including many friends around me, including some friends in front of the screen, they can not understand this problem, cryptographic art NFT is essentially a picture, or a video, directly said is a JTG file, or MP4, GIF file, I can just save it, anyone can save it, or just search on Baidu, Google, why would I pay for this? What do I get if I pay for it? I bought a picture of NFT, after I bought it for him, is it not allowed for others to use this picture? Two teachers share.

Liu Gang: Actually, this may be different from our understanding of an event. Let me give you an example: an artist sold his work. A lot of people think that if I get the work, it's ok. No, he's just selling one work, he's not selling the copyright, he's not selling everything, you can't publish my work, you can't use it commercially and so on.

Of course you can download images through the mass media and so on, but the blockchain as a thing on the blockchain, it has a string of code, this thing you download and it knows who downloaded it. It can be traced back to, it's a new thing, in the establishment of a new order, you as far as the question of values, the question of order, I think there are different perceptions.

When we first started painting and took photos, everyone thought that digital things would lose many aspects, including the number of the film is relatively thin, we must go back to the traditional film to make, now find a Kodak and Fuji film is antique, it is not possible. Before the establishment of a new order, people may raise some doubts about many things. I think the most important one is the sense of identity, the identification of one thing. This value is also, who gave money to identify with his value, there is no specific measure standard.

Sun Bohan: because a lot of people will be watching it is the original, you will be inside the digital images of the original concept will have a question, this time can be a simple example, when you listen to music, everybody hears music version are the same, but of course there will be a little difference, is the hd, or what.

But you didn't mean you have the ownership of the music works, of course, the logic of this like it overall, with you see encryption logic of art, let everybody can see, you can in the way of thinking about the problem of time would want if it is real, real is the original painting, and have seen the original physical and I didn't see the original is an essential difference between, People still think about digital rights from the perspective of a contemporary art object, and I think there are different points in this essentially.

In addition, as a carrier carrying digital assets, the most valuable part of NFT is what is behind it. It does not mean that I will graft a certain value on the physical object, but also on a certain part.

Hu Biao: Is it possible to say that only with the birth of NFT can digital works, or some memes spread on the Internet, have the value of collection?

Liu Gang: For example, if your generation listens to a song and I download it, you may also hear it, and someone else can play it nearby, or I can watch it through other channels. However, it is very normal for you to download a song for one yuan, so you don't say why do I take one yuan? Maybe because this thing is starting to come up, we can all see it, it's not a physical thing, I can download it.

I think maybe that's traceable, and in the end you don't think about it that way, it's an entity, it's a real thing, I own it. Of course you say, I have to download a little picture, can I use it, of course, but with the development of the future, this is also the result of new technology, we don't know exactly what the rules are based on. But I think it's normal to ask questions, and that's what everyone thinks, especially in the current environment, because we all have different ideas about what is copyrighted, what is true or not. I don't think anyone will ask that question in another five years.

Host Hu Biao: As we all know, this round of NFT is getting a lot of attention, but it's mainly because of the Christie's auction on March 11th, where Beeple's digital art works sold for 69 million dollars, and we can also use this as an epitome. Now people's general understanding of NFT is good, or the main application of NFT is still in the category of works of art, why do you think this is? Apart from the retroactive reasons mentioned earlier, what was the reason that the crypto art industry, the art industry, was the first to integrate with NFT?

Liu Gang: I think from the point of view of generating interests, there will be a lot of questions. The thing you shot so high is both virtual and non-existent. So for example, you don't have much chance of writing on paper with a pen, very few, you don't have much chance of taking a piece of paper and writing a letter to somebody, it's basically an email, it's actually a string of code. But gradually it becomes a normal situation. Things that can't be made into real objects, as you can see, a lot of painting is now done on the iPad, and there is everything on it. You don't need to find a piece of paper anymore, and it will produce a lot of different results.

From this point of view, I think that the confusion in this matter is because it sold so high to produce such a confused result. But art goes digital, and everything, and I personally think, after postmodernism, art is your own idea, and you think it is, and there is one party that accepts it. If no one accepts your bid, no one will accept it even if you bid one yuan. I think once you enter the market, you can negotiate the price, which is a buying relationship. The bidder himself recognizes your value.

Because the virtual thing we can no longer measure it with a physical thingNot like gold, is it? I think it's normal to have questions, right? But the development of these things will certainly bring new market situation, there will be new industries enter, but art may take the lead, gradually more, photography, even a film is possible.

Host hu biao: thank you, Mr. Liu, what do you think, Mr. Sun?

Sun Bohan: Many of my views are the same as Mr. Liu's. Let me make a little supplement. Yes, because of the Beeple event, it has already happened, but why did it arouse the interest of many people in cryptography, or in the tech community, in the first place? I think what's going on here, of course, is that there are a lot of factors driving the Beeple event, and there are a lot of things that have come together to bring it to this point. Why is this about Beeple? Three points. First of all, getting the art community to recognize blockchain is a challenge in itself.

Because when people talk about art before, a lot of people talk about art itself or something, they don't suddenly think about what blockchain is. Second, they did not think that blockchain and art could be combined, and they did not understand the combination. The third point,Blockchain can not only be combined with art, but after the combination of Blockchain and art, perhaps a single NFT product can be sold to 70 million dollars, and is the most recognized high value in the world.It was a three-dimensionality thing that made everyone in the art world feel that I could have something like this. There will be a lot of discussion.

Another point, in terms of why so many, just said that there are a lot of joint forces, the first is because of the epidemic, the second is that foreign countries will pay more attention to this. Second, in the field of crypto art, to put it bluntly, art is still crypto, which is an art school or a field. So I think there will be a lot of attention, it needs to have a carry on the carrier of art itself from its image, or the work that needs to be formed a consensus perspective, it is and chain blocks some of the principle of which is similar, because the chain of blocks is also a many characteristics of freedom, equality, democracy, transparency, works of art from the point of propaganda, Or, from the point of view of universality, it also needs to have the same characteristics, so crypto art was pushed to such a storm in this period. I think all those points just now can explain why the crypto art NFT now has such a vent, placed in such a position.

Host Hu Biao: Thank two teachers, actually starting from the top auction houses like Christie's art in this matter, any encryption to sotheby's will auction this month actually another encryption artist's work, before we had an interview with smaller auction houses in the United States, they said they don't want to be the first to eat crab, but they also don't want to be the last one, and now the mainstream art for encryption, In fact, they are open, and along with a few famous crypto artists who have become rich overnight, there are also a lot of lesser-known artists, both traditional artists and crypto artists, who have formed a kind of artist follow mood, they are afraid of missing out on the opportunity to make themselves rich overnight.

Now as long as twitter as long as some people say that would you please show your works, there will be someone to buy, there will be hundreds of thousands of comments, I am curious about a, now a lot of people say that the encryption of art, including art of NFT encryption is inside the industry more than people who buy to sell, I'm curious, this is unique to the field of encryption? Or is it the same in the traditional art world?

Liu Gang: I would like to answer that it establishes a new platform. It is virtual and traceable, not face-to-face. I think any new thing, it should see its environment, it has received education, including the formation of values are different. Take a simple example, we buy a bottle of mineral water, mountain people say I do not need to buy water, there is water everywhere, such a thing does not exist.

Another one, who can call himself art, I believe that art has its own laws and its own standards. If you identify with him, you are willing to say that this is art, who will not say anything, but as time goes by, slowly will find a kind of order, the formation of a rule. Because art today does not mean that I have to go to a fine arts college. The work I create must be considered as art, no, as long as it can mark it as a work of art and someone can accept it. We are not using an art, or something to define, it is not necessary, it is broad.

Like a star, he can be said to be the star, there is no problem, he can say he can sell, have a person to buy, that he is bai, can also think so, but to become a public trading, I think of him as a financialization, just as we speak like a currency, can flow, all aspects will form a standard, so I know.

Sun Bohan: I think first of all, Christie's or Sotheby's must have some kind of logo, which can really draw more attention, that is, people in the art circle. Last year, we BCA did a lot of market education work to popularize with people. It was really not a good thing for Christie's to have such an event. It was true that price, or some basic elements of capital, were just some links and elements.

It certainly helps the industry in a positive way, and indeed NFT enriches the category of the whole artwork in a certain way, or it provides better mobility for the artwork in a certain way. All of these are done by NFT. Of course, it also has some short term, there will be some surplus phenomenon in the short term, now the industry is really too hot. I attended a Boca auction this afternoon. At that time, I heard that in such a small auction with hundreds of people, there would be more than a dozen people to build the NFT platform. I think this has been a bit too exaggerated.

Maybe if we are the first company to do such a project and do such an ecological project, we need to accumulate it slowly, instead of going to be attached to a hot spot after it comes. At this time, it will actually cause the feeling of Follow, instead of really returning to the infrastructure construction.

Because now NFT is in the outbreak stage, what you need more is that you need to do infrastructure construction, you need to find good and high-quality assets, you need to think about how to solve this problem from the payment level, rather than the formation of a vicious competition.As a result, the sale is bigger than the purchase, or many people have not realized what I can do to collect a NFT. However, we made this exhibition this time, and Mr. Liu, as the consultant guide of our exhibition, gave me a lot of suggestions.

I think this is a way for people to understand how NFT can relate to our lives and how we can access it. I think it's the right thing to do. It's really to do some infrastructure to enrich the entire NFT industry. We did some really tangible education, we went out and told people what NFT works are like. How can it be presented in our life? When collectors collect NFT works, they can get the satisfaction of which works they collect. What is the difference between the previous collection and the previous collection? Or the medium form is better, or more advantages, etc. I think those are the things that people should be more concerned about.

Host Hu Biao: Thank you, I think two teacher said is very good, we need a healthy development of the ecological environment of NFT to allow more practitioners of art, or as some academy students, they can really rely on their work to maintain their own life, because my impression is likely to be, is the one I me chat said they have some academy students, After graduation, few of them will continue to develop further as an artist, and they may choose to be a teacher or jump into other industries. Therefore, I think NFT actually helps them to have a better life, which I think is quite meaningful.

In fact, NFT now has a very popular concept, that is, it will now combine a lot of Blind Boxes, similar to the Blind Boxes of Bubble Mart. We usually buy some Blind Boxes just for its IP, Bubble Mart's Cat and Mouse and so on. There are also a lot of IP games in the NFT field, including NBA, and some movie IPs like the recent King Kong Wars, Tesla and so on. Do you think virtual collectibles are now accepted by people compared to physical collectibles? Is this kind of virtual collection too advanced in comparison with the development of the whole world?

Liu Gang: We often say that in the virtual network, he doesn't think virtual. I once saw a student talking to a person on the computer screen when he was doing his homework at night. I didn't say anything the first time I saw it. He thinks it's true. He thinks the pressure of the environment and the fact that we see real people not telling him what's in their hearts. He may think that is true, you say that an identity in reality only see the people, and a agree with me that it was a really, is not in a context between the two, we can't put this thing argument, including now put a lot of things, dolls, etc., I think we should set up an order, any things flow into the market needs a process of changing hands, Get an identity.

Personally, I think it's like a fad, and these things that you just talked about, NFT is the same thing as this. Everything I think starts out with a lot of questions, a lot of doubts, but does it work? Sun Bohan their company is doing such a thing, the first is the interpretation of the second to help you create a rule and knowledge, may everyone slowly, like a road, the road at the beginning, when you put it very well, the cement road, highway and the road is definitely not the same, the speed of running is different also, may be under construction in a more formal, A very safe and reliable channel for everyone. Specific can run what, certainly has the rule, that in the future along with the market development.

Sun Bohan: Teacher Liu said it very well. There must be a time lag when you accept this thing. Then, here I also want to say, is just the host asked to accept the virtual blind box, or is the image of the IP when belong to advance?

It does belong to the early period, but from another perspective, it also depends on age.Because it is true that some of the post-90s, post-95s and post-00s around me, when I talk to them about NFT, blockchain and art, they can naturally accept it, because from their growing environment and historical background, their structure may be different from that of the post-60s, 70s and 80s. I think this is also something that we can accept and recognize. Whether we can accept him or not, or whether I doubt him, has a great impact.

In addition, I mentioned another point just now. Last year, there were a lot of overseas students in the art circle. They were the first students in the overseas system, and they were influenced by the overseas background teaching system, from university to master's degree, or the atmosphere of seeing art museums overseas. May be able to have distinction with the teaching way inside certain colleges and universities of home. They will also have different cognition and acceptance degree from the perspective of educational background.

Of course, they are more receptive to the overseas part, and they have received a lot of attention even before the NFT hot spot became popular this year. Just like last June and July, of course, because of the epidemic, many art colleges and universities in the UK have completely focused their attention on online and virtual parts. But there will be such a time difference in China, I think so.

Another point, Mr. Liu once said to me, we must pay attention to the young people, do not offend the young people, is the young people they will pay attention to what? May represent the trend of the future. We have to play with young people, young people who grew up watching the screen, they will be more sensitive to the original things on the screen and more emotional.

The host Hu Biao: thank you, we said to the wave to play and blind box can't avoid will say to the IP, have a question that bothers me, we can put the IP is divided into traditional native IP IP and encryption of the world, in the field of traditional IP, such as the NBA, the little sunflower like takashi murakami, for instance, such as a movie, in the field of the IP.

I don't know what you guys think about IP in the traditional world and IP in the crypto world, which IP is more promising for our NFT field? There is no denying that IP in the traditional field will have greater commercial value and attract greater attention and recognition at present. But what kind of IP do we need more for the future of the field? Miss Liu began.

Liu Gang: As I said just now, in the real world, in the face to face world, that thing is what the physical IP allows you to produce and copy. This is what we do on the opposite side. I think our lives will change in the future. We had no idea that in the next 10 years we would be using this kind of mobile phone. It's a completely computer-like mobile phone that can do everything.

Ten years later, we may have a lot of life in the virtual inside, inside the virtual need also to have the same at the same time, from the first day what to what I am using now, then you have to through the new technology, I want to developed a thing, must want to get these things, and no words can not be produced, and this is the one who first who is the problem. I think that's probably the case, and there are a lot of problems with bringing the two worlds together.

Sun Bohan: this is two dimensions, are talking about the IP, do have a lot of cases of realistic society, everyone can see it's commercial value, all from the perspective of NFT and chain blocks, this way may bring the original IP more rich products, can have more IP, or to liquidate some of the possibilities.

It will definitely promote the use efficiency of IP, not just say IP derivatives, or how to combine with IP copyright, now it is really from the digital level, IP NFT, not only can be said to be used in the digital field, even the things on the NFT chain can have things off the chain, Of course, there's a lot to discuss about this combination of things.

Hu Biao: Actually, at the beginning, both teachers mentioned that NFT can be understood as, for example, the certificate of a work of art. One question I want to ask you is, do you think that if you have a digital work of art, if I want to make it a physical object, does that diminish its value as a digital collection?

Liu Gang: I think this is still a problem of understanding, I think the number is a possibility, it is more valuable do not say. Entities are digitized and put inside the blockchain, and then the real thing disappears and dies. Over time, if we had a painting in the Ming Dynasty that we can't see now, if we had the technology and the object was gone, it would be of great value. Now distinguish it, I personally think there will be a difference, can not say that I have a thing physical, we have a thing on the block chain, we divide several markets to buy and sell, that is the identity of the problem.

As far as I'm concerned, in real life,It's only in the blockchain that a string of digital things are produced, and you make it reproduce, and you have to reproduce it through this person, and copy it, and it works. But its mother is the number, and that's the most important thing.

Sun Bohan: My point of view is basically the same as that of Mr. Liu logically. In addition, why do some people still care about my transfer from assets on the chain to assets off the chain? Because people do live in such a physical space, and because there is no particularly sound infrastructure in the country for the person who owns the NFT to be able to display it enough, or to let others know that he owns the NFT, it all goes back to the problem of inadequate infrastructure. Because of the same cost of education in the United States it's possible that they are already very well educated, because there is such a large cost of education and you have to tell other people, I bought NFT just a bunch of numbers.

In China, it's easy to understand that you buy a picture like this, or whatever, or a lot of people don't understand. So I think that's probably constraining a lot of people who say why do I still need to have things off the chain. Of course there are many forms of drop-off, whether it's on the screen, whether it's on the terminal, whether it's something I've modeled in 3D, whether it's 3D printing, whether it's printing a digital photo, it's all coming out and so on. These things have been around for a long time, and there was not a clear sense of value and cost.

Liu Gang: Actually, I can tell you a clear concept. Now, if you have a traditional photo, an old photo taken in the past, you must scan it and save it in your hard drive. Either the physical photo is the best. The idea that it's best to have it on your hard drive, that we started taking photos, and putting them in the photo album and putting them in there, we didn't accept that number. Now we accept that even if you see a photo that's blown up really well, you're going to have a digital copy of it on your hard drive and you're ready to type it, and I think that's the relationship between the two, the physical and the digital, and I don't know if that's an example, but I think that's the concept.

Hu Biao: Thank you. Just now, both teachers have mentioned a concept called virtual world. Our life in the physical world is gradually transferred to the virtual world. In fact, the concept of virtual world has been popular recently, and more people are calling it Metaverse in English, because a new concept in the US stock market recently was the Metaverse concept.

In China, there are also companies that build virtual world tracks that have obtained over 100 million RMB of investment. Tencent and Facebook, for example, are very optimistic about the virtual world Metaverse. We can first simply understand the Metaverse as a world like the top movie player. Virtual currencies such as NFT, for example, are well suited to the Metaverse and virtual world. Do the two teachers think NFT will become mainstream in the future of the Internet, the virtual world?

Liu: I think the birth of new science and technology, it can be born to it in the future must be a living space, it will change many of us, if it was born, it may fundamentally change the form, as we were calling a person use hand phone, and then to the BB machine called a person, until now, this is we can't imagine.

But personally, I think you want to be a leader, just like we do now an Internet website, who to do tencent is hard, so you can say, money can do, is not such a thing, must be early, whether from the technical or from the rules, still have all sorts of things, must be from the start, there are a lot of things, new things with the market development, I think there must be a future, it must be that way.

Sun Bohan: I think so too.NFT is bound to become a mainstream Metaverse. Because NFT is such a clever way to connect culture, business capital, and even a lot of technology and so on, to connect so many fields. It's going through it as a vehicle, so it's going to be able to tie it all together. In such a original universe, such a virtual world, NFT can carry things, or can be connected to the field is too much.

It doesn't have too much, it doesn't refuse too much. We are in the primary player's universe, we buy virtual land, the land is also NFT, we build a virtual art gallery on the land, the gallery building is also NFT, you can display the works, the works must be digital works, also NFT. In other words, our image in it, the clothes we wear, the glasses we wear, can be compared with some of our professional projects in the UK, which are researching virtual clothes. They can also be combined together. These are all NFT. So NFT is very popular, and it must be the core of the mainstream in Metaverse.

Host Hu Biao: The last question, please two teachers, with one or two sentences to look into the future how the future NFT development?

Liu Gang: I think it will become, if everyone is in this world, an indispensable thing in everyone's life. Why do you say that? Because its field is too wide, any field can be, now is in the formation of rules and order process, I think as long as it is new, we should not take the attitude of refusal, should take the attitude of acceptance, you will not be eliminated.

Sun Bohan: My outlook is still, I follow what Mr. Liu said, first of all, when new things come, you should first understand it, whether it can produce some help in our life, whether it can improve some efficiency, whether it can promote the development of our industry, but now NFT has indeed confirmed, It is now that when you actually look at NFT, you will find that it can achieve some of the effects and impacts that I just talked about on the industry. But we had known about it about the same time, and people would flock in and paint their own piece of it.

I think at this time, we should study some deep levels behind NFT, or some things in essence. , and then to choose me from which field is NFT which way to do it, because do this space is especially big, it can be extended to a lot of a lot of different, not limited to technology and chain blocks, envelops, including culture, music, entertainment, fashion, or tickets, bonds, etc., too many, I think I should is to find myself, Find some core essence of NFT, and then to develop, the future NFT market will also follow the long-term upward trend, will develop steadily, is not like the current push up, overnight, it will not be such. It's going to go a long way.

Liu Gang: Sun Bohan in the future your company can become NFT like Tencent on the line, no matter how many people do it, as long as you work hard, there will be a future.

Sun Bohan: Try to seize the present opportunity and then do the right thing. Thank you for your kind words and encouragement.