After the age of NFT

Title: The Post-NFT Era

Originally written by Mia Bao

NFT existing pattern

Even before Bitcoin was born in 2008, the evolution of Digital Cash had gone through such bumpy times as eCash in 1982 and B-Money and BitGold in 1998. The seeds of new things always go through a lot of trial and time precipitation, NFT is the same.

NFT grew out of an interesting concept that Hal Finney shared with the Cypherpunks group on CompuServe in 1993 -- Crypto Trading Cards.  

After thinking a lot about trading digital cash, Finney came up with the idea of trading "crypto cards." He thinks cryptography enthusiasts will love the fascinating art of cryptographic strings. Cryptographic trading cards made up of abstract strings will not only be talked about by friends, but will also be collected, traded, and boxed, creating new ways of playing and new fads.

"Behind every dream is someone who is energetic and adventurous. They don't expect anything but surprises." Finney is enthusiastic, and Crypto Trading Cards doesn't surprise him. But perhaps a measure of delayed gratification, 16 years later, he received the first transfer in Bitcoin's history.

In 2017, crypto cat triggered the first wave of NFT boom. In 2018, ERC721, ERC1155, and ERC998 protocols were gradually improved. In 2020, NBATopshot is a phenomenal product at......

From 2018 to 2020, the NFT market has undergone dramatic changes:

NFT (Assets) Category: Collotibles/Art/Virtual World/Games/Sports/Tools NFT Market Valuation: $40,961,223 / $141,556,148 / $338,035,012 222,179 Buyers: 51,861/44, 644/74,529 Sellers: 27,877/25, 264/31,504

From 2018 to 2020, the size of the NFT market grew by 825%, the number of active addresses grew by 201%, buyers by 144%, and sellers by 113%.In the first quarter of 2021, the NFT market exceeded $1 billion and is expanding at an astonishing rate. A pair of Uniswap socks sold for $160,000, Jack Dorsey's one tweet sold for $2.5 million, Nynt Cat's first work sold for $656,000, and Beeple sold for $69.35 million at Christie's NFT... Since the end of 2020, artworks have shown a rapid rising trend, and the market share of games has declined significantly due to the high Gas fee shutdown or transfer to the second floor. According to the statistics in March 2021 (Non-fungible data), Collectibles' All Time trading volume remained the top NFT asset class at $270 million. Art moved up to second with $150 million. Then there's the Metaverse, games, sports and tools.

However, with the explosion of NFT, "why spend a lot of money on NFT when it can be copied?" ."NFT liquidity is weak, low turnover rate "and other doubts. Where are the "collectibles" and "art" NFT assets, which now account for the lion's share of the NFT market, heading next? Before answering this question, let's try to address the first two questions:

Replication problem:Hacktao recently asked on Twitter: "What's the point of having an NFT if I can just download it or copy it?" Perhaps the significance of NFT lies in its ownership and Access. NFT itself is a paradigm shift from the physical world to the virtual world, where the holder's property rights are the most important. Hacktao's work is like a key, and her art galleries, live streaming rights and so on are the keys to a new world. The more valuable the item is, the more times it will be copied, but the bag that looks more like it will not be sold.

Liquidity issues:I have always thought it unfair to simply criticise "illiquid NFT". NFT assets can generally be divided into two attributes: one is "pure collection" attribute (including collectibles, works of art, etc.), and the other is "tool" attribute (including game props, virtual land, bills, DeFi circulation vouchers, etc.). According to our 2020 data, art and collectibles share nearly 7:3 in both primary and secondary markets (source: nonfungible.com NFT Reporting 2020), while games and meta-universes share about 3:7 in primary and secondary markets. The fluidity of the former is determined by the nature of its object, which is a feature rather than a bug (certainly does not mean that there is no need for optimization). The latter is not too weak (due to the length of this article, I will put in some views on the sharding in order to solve the problem of flowHere,).

There are two things that go hand in hand with the market. One is to create demand and the other is to satisfy demand. In the post-NFT era, it's common to ask "what's new with NFT?" In this article we will focus on the latter. There is no shortage of top scarce assets, while a large number of long-tail assets have been unsold. Back to the question discussed above: where are the "collectibles" and "art" NFT assets, which now account for the lion's share of the NFT market, heading next?

In a more mature NFT ecosystem, the ecological line between the "pure collection" NFT and the "tools" NFT will blur, and the former will likely merge into the latter as a "separable subset."

What do you mean?

People who don't or don't understand the NFT craze always ask, "What is the use of holding NFT collectibles when there is a price but no market for them?"The answer, I think, is the Metaverse. Any item that is not in the game is meaningless, and any virtual peripheral or virtual artwork that is not in the virtual world will not be of maximum value. The NFT asset class, which has the largest market share (by far), will end up in a subset of the Metaverse. In other words, Metaverse will be the best repository for these virtual goods (with pure collectible NFT).

What is the meta-universe?

The concept of Metaverse came from the 1992 science fiction novel Snow Crash by US author Neal Stephenson. "Meta" means "beyond" and "yuan", combined with "Universe", i.e. "meta-universe".

In 1992, Stephenson was already imagining the next generation of virtual Spaces: "As long as a headset and eyepiece, find a terminal, can connect into by another 3 d computer simulation of reality, everyone can in the virtual space of the parallel to the real world has its own erection (Avatar). In this virtual world, everything is digital copy of the real world, People can do all kinds of things in the virtual world, such as shopping, eating, Posting friends in the virtual world. In addition, people can accomplish ambitions that are impossible in the real world, such as teleportation......"

In simple terms, a meta-universe is a virtual space that mirrors and is independent of the real world. The most exciting thing about the meta-universe, however, is not just the technical aspects of its construction, but the enormous potential to change the way we interact with each other.

In the early 1980s, the RPG Ultima provided the player with an open world map, presenting the first "open world" to the player, but Ultima was hampered by technical and design issues. The game that really had the sandbox element in its broadest sense was Elite in 1983. In Elite, you can take on the role of an astronaut, flying a spaceship through space on various missions. In this game, player behavior begins to have an impact on the ecology of the game.

During this interaction, the player is introduced to the concept of an "open world". The game can jump out of the single mode and generate more possibilities. The identity of the game manufacturer and the player has realized the exchange in the traditional sense. The player has become the producer of the content, while the game manufacturer only provides a platform.

Since then, more representative sandbox games have emerged, and gradually presented a variety of genres, such as Roblox, Grand Theft Auto, Famine, Minecraft and so on. Roblox is second only to Google (including YouTube) in popularity among teens, with 31 million lives per day and 150 million lives per month (by 2020).

At the beginning of 2021, gaming giant Tencent highlighted the Internet's entry into the Quanzhen Internet era. Jonathan Lai, an analyst at A16Z (Andreessen Horowitz), also recently suggested that Metaverse will disrupt the way we connect. Up-and-comers Mihayou and Lilith are also actively laying out meta-universe games. Whether it is hardware companies, platform companies or content companies, a number of VR/AR companies have completed huge funding for meta-universe games......

Blockchain and Meta Universe

The definitions of Metaverse are broadly the same, but different. The author thinks that the meta-universe should contain the following elements:Metaverse = Create +Play +Display +Social +Trade Metaverse = Create +Play +Display +Social +Trade, and it is these components that make token governance and NFT likely to play an important role in the virtual economy of the meta-universe (see the next section for more details).

According to Nonfungible data, by the end of 2020, the blockchain universe will occupy 25% of the NFT market share, ranking the first in the share of NFT assets in 2020. Its historical sales amount is more than 55 million US dollars, but interestingly, in 2020 alone, it will reach 20 million US dollars.

Total Metaverse sales to end 2020

And 2021 is even more dramatic, with sales in the first quarter exceeding $30 million, exceeding the total for 2020.

More than $30 million in the first quarter of 2021

Perhaps because the meta-universe is more complex than the other events, the track isn't really crowded, so ？？？？ . Examples of projects with solid data include Decanaland, The Sandbox, Cryptovoxels, Somnium Space, Axie Infinity, but The table below also lists projects on land that are in good condition but have not yet been released. Including Aavegotchi and Terra Virtua. (Note: Terra Virtua, as it stands, only offers virtual Spaces and has no plans for land or interactive meta-universes)

In 2021, The application data of The meta-universe in The blockchain world is extremely bright. Take The Sandbox as an example, The amount of The second round of land auction in 2021 (over $2.8 million) exceeds The combined revenue of 2019 and 2020. A recent land auction broke all records for nearly $7 million. The Sandbox has a total land of 166,464, nearly 50% of which is currently up for auction.

In terms of IP cooperation, The Sandbox has entered into strategic partnerships with The Smurfs, Atari, Roller Coaster Tycoon, Care Bears and Shaun The Sheep, which indirectly reflects NFT's gradually becoming mainstream.

Land sales are extremely important in a meta-economy, and even some projects such as Cryptovoxels have abandoned the ERC20 gameplay in favor of selling only NFT land. Even in the fusion category, other ecological revenue is far less than land sales. For example, Axie Infinity, a game with NFT+GameFi+Metaverse, is generating revenue even though its game ecosystem is thriving65%Both come from land sales, and for users "land resources are the economic base of Metaverse" because they offer the greatest long-term potential.

Therefore, for projects that have not yet taken shape but are in good condition, we have been holding a positive and optimistic state.

In 2020, Metaverse was No. 1 in NFT assets, but by 2021, it had fallen in share, partly because of the rise of art, partly because of games and Metaverse's search for tier 2 or side chain solutions (data not tallies). To reduce the rising gas fee. In February of this year, Axie Infinity built its own side chain Ronin, which has become the migration of LAND and other assets. Also, every block has a block on the block. Every block has a block on the block. As a result, every block has a block on the block.

There is no shortage of developers exploring the Layer 2 Web, and it's hard to ignore Aavegotchi when it comes to the fastest and deepest. In March of this year, Aavegotchi officially moved to the Polygon network, and is currently the largest game Dapp on Polygon. The bridge between Ethereum and Polygon's ERC721 and ERC1155 was also developed by Pixel Craft, the team behind Aavegotchi. Aavegotchi is at the forefront of the two-layer network exploration. The meta-universe is also expected to launch in 2021 in Q2.

From the already formed project back to the unformed project, whether it is the pixel body or the simulation image, the constant hot party on CV proves that the real life has partially mapped to the virtual world.

"In the future, if each of us is born and lives in a virtual world, we cannot judge our external world, and there will be no ontological distinction between virtual reality and natural reality." -- ZHAI Zhenming, Get Real: A Philosophical Adventure In Virtual Reality

Indeed, on a day when we spend nine or more of our 18 waking hours in a virtual world, the virtual world may become the real world. It may seem like such a life is far away, but it's actually very close. It is said that the early "natives" of the meta-universe were either lunatics or speculators, so what business do sharks see in this untapped blue ocean?

The new economy of the meta-universe

The meta-universe is more than just a game. The meta-universe is the next phase of Web 2.0, full of metaphorical mirroring and upgrading of the real world, It also provides opportunities for a new generation of Digital Entertament, social graph, online work economy and e-commerce infrastructure. According to "The Spatial Web and Web 3.0" report published by Deloitte, in The era of Web 3.0, The form of virtual space interacting with The real world in 3D space will expand. In other words, Metaverse will become the defining technology, platform, and service of Web 3.0. The Metaverse in chaos has sparked the rise of some new economies, and I divide it between "direct" and "indirect."

"Direct" Meteverse New Economy: Land owner/ Fipper/Player/Metabuilder/Contractor/Metawear

A Land owner or a Fipper.: In The case of The Sandbox, a landholder saw a 19-fold increase in The first auction between March last year and February this year. In addition to the explicit interest of land appreciation, the landowner also has some invisible interests, such as SAND's liquidity mining landowner has the Multiplier coefficient: For holding 1 piece of land, the reward is *1.1, for holding 100 pieces, the reward is *1.5, for 1000 pieces, it is 1.54, and for 10,000 pieces, it is 1.65.

The Sandbox Land price chart from March 2020 to February 2021

Player: The rise of the metamouniverse drives the "Play to Earn" economy. Blockchain games represented by AXIE Infinity allow players to Earn SLP (small love potion) through competitions and tasks, and then realize profits through the secondary market. This type of monetization is not uncommon in games, such as The Sandbox and Aavegotchi, whose next goal is to make money while playing.

Metabuilder/Contractor: Professional things are given to professionals. Ownership and use rights can be separated from the meta-universe. This creates an economy of contractors, such as Voxel Architect, who are already playing a role in this ecosystem. In addition to contractors working directly with landlords, The meta-universe team itself often supports virtual world builders, such as The Sandbox, which has a Game Jam for builders that rewards $200,000 per session, with The first winner taking home close to $100,000. For ordinary builders, there are foundation subsidies as well.

Virtual wearable device maker (Metawear): Three or four years ago, Gucci began to lay out a meta-universe, providing virtual clothing and accessories for The Sims and Pokemon Go. Just last month, Gucci teamed up with augmented reality platform Wanna to launch a $25 Virtual shoe called Gucci Virtual. Users can "wear" the shoes on the Roblox or Wanna app.

In addition to traditional brands, native brands are also emerging. Among them, E1337 (Elite), initiated by Whaleshark, is the first luxury brand positioned in the esports field. It also officially announced in April this year that it will launch a multi-space version. RTFKT, the trendshoe-label that led Metawear, teamed up with trend-artist Fewocious to create a 600-plus NFT shoe that sold out in seven minutes, raking in $3.1 million in sales.

RTFKT virtual popular logo

In the real world, why do we collect famous paintings, why do we wear LV, why do we drive a Porsche? In addition to love, practical, more in order to obtain a social satisfaction. No matter what you want others to label you, appearance level, talent, taste, wealth, without exception, need to have a realistic carrier to show off, "showing off" is a rigid need in today's society. What happens after social virtualization? We probably want Beeple's art hanging in the house, RTFKT shoes, E1337 clothes.

New Economy of "Indirect" Metaverse: In addition to participating directly in the Metaverse universe, we see the development of a spin-off water delivery industry that serves Metaverse and its participants, such as the Yield Guild.

With current NFT games, players often need to own NFT assets (e.g., land, characters, items, etc.) before they can play the game, and there is a lot of 'sunk cost' for base players to invest before starting the game. This economic model seems ridiculous when it comes to Mass Adoption. Since last year, we've seen Gabby's team, Yield Guild Games (YGG), address this issue, and they're willing (and have) bridged players (especially third world players) with blockchain Games (like Axie Infinity) in the form of Guild, Purchase NFT assets (do not rule out opening other collectors' NFT assets later) to minimize the threshold of player participation:

First, it eliminates the cost of purchasing NFT assets for normal players + players earn revenue through Play2earn (70% for players, 10% for Guild, 20% for Scholar Manager)

Second, it provides a strong third world traffic +NFT circulation and turnover rate for blockchain games

Third, the project itself has a clear business model (the project party of flowing water, the service provider of iron)

This business model supported a large number of players in the Philippines during the epidemic. "It's amazing that you can earn more money than your real job just by playing online part-time games," he said. The minimum wage in the Philippines is $200, and every amateur AXIE Infinity player can earn an average of $200SLP (Small Love Potion) per day. According to the high price before SLP, they can earn more than $1,200 per month, which is 6 times of their own income level. Even based on the current SLP price (0.048USDT), it is still above the minimum wage level.

In addition to the above examples, we have also seen some other interesting developments in the spin-off service track, namely the development of "NFT MCN Corporation". (The term "MCN Company" does not necessarily mean a dedicated NFT operating company, but rather an organization with operational capabilities, which can take The form of NFT Kol such as Whaleshark, NFT Project Party such as The Sandbox, NFT Community such as $Whale Community, Of course, there are also specialized companies such as Cryptoart Studio). As the NFT exit effect is greatly enhanced, traditional IP or brands are also beginning to enter, but they have two choices in front of them:

1. Relying on its own brand influence to issue NFT assets & NBSP;

2. Push together with "NFT MCN Inc.

The success of traditional IP NFT and this kind of "MCN organization" is inseparable. Take for example, on March 29, Takashi Murakami, a well-known Asian fashion artist, auctioned 108 pieces of NFT crypto works "Murakami.Flower" on the NFT trading platform OpenSea. On April 1, his creation "#0000 Murakami. Flower" had been bid at 144ETH (about 320,000 USD), while the average bid of the remaining 35 works in the first release was more than 4.4ETH (about 9,600 USD). According to this trend, the total auction price is expected to reach more than $1.2 million. However, to April 5, Murakami Long is about to release 108 pieces of work, originally out of 144 ETH collectors, the bid to withdraw to modify the 50ETH, the second day, Murakami Long team suddenly announced the 108 pieces of work packaged together for auction, and do not recognize the front of the single piece of work bid. Before the auction, the price of packaged products is only about 20ETH. The day before the auction, Murakami Long suddenly announced a temporary delay in the whole package of auction.

In fact, Takashi Murakami's event reflects a problem. When traditional IP enters NFT, it is always believed that it can replicate the success of traditional market according to its own resources, but in fact, there are barriers between circles."If you want to go fast, go alone; If you want to go far, go together." The traditional IP to enter the game is not only the above principles so simple, want to become the final success model, It is important to cooperate with native teams and institutions in the industry that have been "Invest in" continuously, such as $WHALE and Beepcrypto, and we can make a decision on this by comparing the cases of Paris Hilton, 3Lau and Takashi Murakami. Cryptoart also plans to set up a Cryptoart Studio incubator to support these artists, so as to break down barriers between circles and maximize mutual benefits.

Blockchain meta-universes VS traditional meta-universes

What NFT brings is not only the "uniqueness" of material, but also the transfer "across time" and "across space", which is often a limitation that traditional games cannot overcome. Here are a few examples: A.Mooncat's flair, B.Kittyverse's extensibility

Arjun ooncat turn red

On March 12, Twitter user Ethoard "archeological" discovered the NFT collectibles category item Mooncats. The program actually dates back to Aug. 9, 2017, after cryptoppunks and before CryptoKitties. Completely by accident, Ethoard launched Mooncats Rescue, which calls for people to use EtherScan to manually interact with the contract to Rescue the cats (since the front end of MooncatRescue.com has long since been shut down). In just three hours, Mooncats was the second most expensive account on the Ethereum network that day, with more than $600,000 in Gas bills alone. An accidental "archaeology" saved the project, which had been abandoned by the developer for 4 years. I don't know if you have experienced the helplessness of your favorite games being stopped, and the cross-time nature of blockchain games is tantamount to opening a Pandora's box of history.

B. Kittyverse - Single IP scalability

Cryptokitties is a single collectible, and its single mode clearly doesn't appeal to the general audience. One solution to this situation is for the team to build an NFT game directly, such as Aavegotchi, where their collectible "imps" are collectibles in addition to being collectibles themselves. Defi, which is a storage container for "AToken" (NFT wallet), and GameFi, which has MOBS that can participate in Rarity Mining and Mini Games. Another solution is open API. Let other development teams build various derivative games or products based on Cryptokitties as prototypes. The "cross space" of this asset is the asset reuse that maximises the utility of Cryptolitties assets.

In addition to Cryptokitties, the "cross-space" property of similar NFT assets is also strongly represented in Metaverse. For example, Metawear, a piece of my E1337 clothing, can be worn on every block included. The Sandbox, The Cryptovoxels, and Gods Unchained item cards I bought in The past may also be used as items directly in virtual space.

But beyond the original Kittyverse model, let's imagine a little more.If CryptoKitties is an IP copyright, then the micro-economy based on this IP like Kittyverse can be directly fed back to the original project itself in a commercial way, which is also another interesting idea and actual scene for IP copyright.

The meta-universe doesn't evolve overnight. There aren't even clear-cut lines between "before" and "behind" Metaverse. Nor is it built and run by a single company.There are a few tracks we're excited about right now: The first Metaverse track has established, well-developed but imaginative titles like The Sandbox; The second category is the Chinese Metaverse. The third category is the spin-off service companies that serve the business; The fourth category remains open for new business models."

The arrival of Social Money

Why do I talk about "Socail Money" and "Socail Economy" repeatedly in various NFT presentations and how "Socail Money" is a derivative of NFT? Exploring this topic will also solve many people's confusion about why NFT is so out of the circle and why there are so many celebrity IP willing to bless. The underlying reason is that most NFT is essentially "goods", and there is a rule of thumb that has been proven to be true over and over again: the best version of every consumer product is inherently social.    

Before officially entering NFT+Socail Money, let's talk about the scene and imagination space of "Social +".

Compared to non-social products with similar competitive advantages, products with social components tend to have fundamental asymmetric advantages: better growth loops, better engagement, better retention, stronger moats. Moreover, this product advantage tends to accumulate over time.

Let's look at a few examples:

A. Social Games: Assassin's Creed vs. Fortnite

Assassin's Creed may be one of the most successful game franchises of all time, but it lacks the social elements of Fortnite or Minecraft. There is no user-generated content and no real social graph. Assassin's CreedThe valuation is estimated at $300 millionWhile Fortnite onlyIn the past yearitIt brought in nearly $2 billion. Is this why the best games are more likeSocial networking andNot stand-alone.

  B. Social + Music: Spotify and TikTok

Spotify is good, but music is also a "social experience" by nature. TikTok made music social by introducing viral "challenges". Fourteen years later, Spotify's market value is about50 billion dollars. TikTok is not yet public, butThe most recent public estimateSuggesting it could surpass that benchmark in less than five years.  

C. Social + Shopping: Amazon and Pinduoduo

What is well known in China is the "social nature" of Pinduoduo. Although it has not caught up with Amazon in a short period of time, Pinduoduo has gone from zero market value to more than five years100 billion dollarsThe fact that... demonstrates the potential of social commerce.

  D. Social + Audio: Audiobooks/Podcasts vs. Clubhouse

While the media in the era of explosive podcasting is largely single-player and passive, this is starting to change. Clubhouse is more UPC and social and can drive a stronger network. It's broader.

After reading the above cases, let's look back at the combination of NFT and Social Money. Just as NFT was written at the beginning of this section, in most cases, NFT is essentially a commodity, so the author thinks that Social Money+NFT= Social e-business (new Social e-commerce).

  Social money + NFT= Social ecommerce

Point-to-point bring business is the weak link, the Internet industry results has been mature, the flow dividend gradually exhausted after the "electricity" era, based on the ecological social KOL electricity brought about by the fission and explosive growth, is we pursue the direction of the KOL to C the strong correlation, direct drive fans cash economy. We see imagesElon Musk, Jack Dorswey, Mark Cuban, William Shatner, 3Lau, Shawn Mendes, Theweekend, Paris Hilton and others have all released their NFT works.  

Since we are in the early stages of social tokens, the definition may not yet be fully agreed upon. But based on the current state of the market, let's divide the social token ecology into three categories:

Social token issuing platform personal social token community social token

(Note: As this article is not a popular science, no analysis will be carried out. More introductions and information about Social Token will be collected in the following sectionsHere,https://weibo.com/u/6128064102)

Although social tokens are still in their infancy, some social tokens are already taking shape, with Whale, currently the number one social token by market capitalization, at over 137 million, far ahead of other social tokens. Next, I will illustrate the depth of the relationship between NFT and social tokens with the example of WHALE.

Social token market capitalization ranking

"NFT investing is so hard that you have to do even more homework than other DEFI projects, but Whale makes it easy. You may be buying just one token, but you're buying a basket of top NFT assets." ----Chico Crypto

Whale is the first social token to anchor a package of high-quality NFT assets. If we look at projects in this form,The most important core is the "asset" itself, not the "form" or "gameplay" itself.In addition to The influence of Whaleshark itself, Whale's The Vault asset is not to be underestimated. According to a monthly audit by Nonfungible, The Vault currently has 13, 200 assets valued at $41.9 million, which is a very conservative valuation. Nbatopshot, for example, is ranked by Momentranks. Only in the asset pool

Nbatopshot alone has more than $50 million in assets. In addition to the NBatopShot, the other items in the Whale asset library are also astonishingly good.

1. NBatopShot Assets Rank # 1 (NBatopShot Rank:https://momentranks.com/accounts)

2. The Sandbox is The second largest collection after Binance

Gods Unchained is the largest collection of Gods Unchained cards, with 2/3 of the rarest Gods cards and the largest collection of gold and diamond cards

4. The largest collection repository in the CryptoVoxels virtual world (core location)

5. The largest collection of well-known cryptographic artists such as PAK, Hackatao, Xcopy, Coldie, etc

6. Joyworld's largest collection

7. Avastar's largest collection, including the only two original Acastars. #0 and # 1

8. SuperRare's largest art collection:https://superrare.co/largest-collections

9.... .

WHALE ecological figure

The value of NFT assets driven by individuals or communities is realized with the launch and flourishing of various social token platforms.In the future there will be one contract for each influener, and composable or modularised tools will be a must, depending on the appeal of the scenario.Existing social token publishing platforms Roll, Rally, BitClout, and Socios are already in prototype form, and an aggregating tool such as LinkTree will also appear to link islands of information between platforms.

We launched NFT at the end of 2019, and we're watching social token like we watched NFT in '19. Back to the social token launch platform, there's a recent project that's taking all of the top tier capital markets by the name of BitClout, It has acquired Sequoia Capital, Andreessen Horowitz (A16Z), Social Capital, TQ Ventures, Coinbase Ventures, Winklevoss Capital, and Arrington Capital, Polychain, Pantera, DCG, Huobi, Variant and other well-known investment institutions.To put it simply, it is a Twitter to "invest in celebrities and up-and-comers." To KOL it is essentially "Monertize your influnece" and to users it is "Skin in the Game." Be truly involved in the process of "building" your IP.

Social + products usually have both an interactive and a transactional layer. The interactive layer appeals to the emotional and cognitive aspects of the user, while the transaction layer is more functional and rational. From a product and marketing perspective, combining these two distinct tasks into a consistent experience can be a delicate balancing act. But when the emotional and transactional layers are carefully designed and mutually reinforcing, that's when the magic happens.  

We like social tracks, but we don't like social products because they're too hard. Difficult, is not the technology and the product itself, but the capital operation and outside resources. In the operation layer, BitClout can achieve the same frequency of value sharing, emotional resonance and relationship symbiosis among users. At the resource level, it would be interesting to see how the introduction of a well-known IP can stimulate cold start and sustained energy.

  NFT+Social Money= Scalable Sociality

Many readers may feel very strange why NFT and Social Money have different answers when they switch positions. Of course, all the arguments here are the author's personal definition, and the reason why there is such a distinction lies in "who is the subject first". The last chapter talked about enabling NFT in the social scene, while this chapter talks about how to enable social in the NFT scene. The former NFT usually exists directly in the form of "goods". The latter is often a "tool" attribute credential.

Before we give an example, let's break down a concept. In 2015, Daniel Miller, a professor of anthropology at the University of London, proposed a concept of "Scalable Sociality" for social media. Scalable sociality, which includes groups of different sizes and levels of privacy, refers to different dimensions of social interaction. In some cases, specific NFT allows you to access specific groups, depends on number of NFT for some sort of native "things" (the game assets, for example, digital art or space domain) provides a standardized network virtual identity and ownership form, representatives from private to public social media rights of different boundaries, and a simple example: Often our biggest open social tools are open platforms such as Twitter/ Weibo, then private traffic such as WeChat, then private groups, etc. In this environment NFT is actually a "Privilege Plus", a new and unique feature that is enabled by digital ownership.

For another example, back to the e-commerce scene, for example, if a brand is authorized to the four channels of ABCD, the channel operator (Gatekeeper) can transfer the certificate to NFT. Here, NFT serves as the "intermediate state" to accept the trust of the brand and C-end users.

conclusion

"Sociality" is a universal and eternal need, the meta-universe is an inevitable way of Social interaction of the new generation, NFT is a rigid need to meet the Social identity and practicality of virtual Social interaction at the same time, and Social Money is the best form of expression to reflect Social value. And then back to the social tide,Perhaps the most iconic store of value of our time is no longer gold, but bitcoin. The most representative collectibles of this era will not be the AJ, but the NFT.As I talked to a photographer friend the other day, looking back a century later, "those mosaics on sensitive paintings may be the mark of this era." So should Bitcoin, NFT and its derivatives.

  This article was submitted and does not reflect the views of Rhythm Blockbeats

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