After IP+NFT, the industry will enter the era of NFT structured description

Cocos-BCX, the next generation digital economy platform for games, BSC and Blockbeats, the leading media in the industry, jointly hosted the NFT themed Meetup, "Who Will Lead the NFT Wave with Crypto Art".

Hosted by rhymed Blockbeats NFT researcher Sleepy, the MeetUp featured Cocos-BCX Eco-Technology Contributor Reed, BSC Asia Pacific Community Leader Jeff Sipher, Dego Chian Lee, Ching Ye, Head of Operations at MathWallet, Celilia, Head of Rocki China, and other guests discussed where NFT, which can do everything, could continue to heat up while making great achievements in the crypto art field.

The following are the highlights of this Meetup.

Sleepy: The history of NFT since Crypto first went out of the loop

Sleepy Blockbeats NFT researcher Sleepy, as the host of Meetup, opens the preface to the Meetup's history of NFT development.

According to the industry consensus, the first NFT item, Cryptopunks, was born in 2017 and sold 100 million pieces, with a total trade volume of $234 million, with most transactions taking place in the fourth quarter of 2020 until now. The current floor price is $49,000.

The first NFT to go offline was Cryptokitties' Crypto Cat, which was also the first NFT project to crash the Ethereum network.

After Crypto Cat, the industry blossomed until last August, when DEFI caught fire and NFT combined with DEFI to create representative projects such as DEGO.

Now, one of the most popular chain game projects in NFT is NBA Top Shot.

In addition, this year caused a craze crypto art, one of the most hyped crypto art trading platform is Nifty Gateway, after being acquired, Nifty Gateway invited Beeple, Pak, Famous artists like Mad Dog Jones joined in and auctioned their work on the Nifty Gateway, and all of these crypto artists made money by publishing their work.

After earning traffic and money, Nifty Gateway also began to support its new artists, and will also start to invite artists who have no fans to publish their works on this platform and spread crypto art ecology.

After NFT penetrated into the traditional field, Christie's, Sotheby's and Fujis, the world's top auction houses, respectively invited the three artists to auction cryptography works at the traditional auction houses. As a result, Beeple's works auctioned at Christie's that we are familiar with, with a final turnover of 69 million US dollars.

Taking a look at the history of NFT, Sleepy introduces the theme of this MeetUp -- "Who will lead the NFT wave with crypto art" -- and invites guests to share more.

Jeff: NFT classification and NFT ecology and data sharing on the BSC

Jeff, the head of BSC Asia Pacific community, began by taking 10 yuan as an example to explain the difference between FT and NFT.

Jeff said, "This RMB 10 is a homogenized token, because my RMB 10 is the same as your RMB 10 and his RMB 10 is the same, while NFT is a non-homogenized token, and each NFT can be unique."

"We are now using the Internet, we can go on the Internet to create music, art, or you can go to write a novel. And then we put these creations, combined with block chain technology, it can block chain, to ensure that the existing way find a position on the block chain, then think about the tokens, and then go to deliver value, this is now the NFT."

Jeff then described the classification of NFT as follows:

1. Art. Art works will be combined with some trading markets and then to do projects.

2. Collections, which were mentioned earlier, including CryptoKitties, CryptoPunks, NBA Top shots (flows).

3. A combination of games /VR/ virtual/reality. These games are represented by Decentraland, respectively.

4. Content and social networking, such as the text on Twitter, a tweet, it into NFT. Rocki, for example, is making music into NFT.

5. In the case of real world assets, some people issue real world assets on the store to make NFT of real world assets.

Finally, Jeff shared the project ecology map on the BSC today:

Reed: For chain game development, choose side chain for short term, Op Rollup for medium term, and ZK Rollup for long term

Reed, a Cocos-BCX ecotech contributor, cites Dark Forest as an example of the trend in chain gaming.

According to Reed, The Dark Forest is a decentralized real-time strategy game that takes its concept from Liu Cixin's The Three-Body Problem and is about space conquest. Dark Forest was featured by God V at the height of Defi's popularity, and while the game was still a rough one, it defined a system of plugins that developers could create based on the problems they encountered in the game, which made Dark Forest a niche game but an ecosystem of its own.

By using Layer2 and zero-knowledge proof, Dark Forest successfully solves two problems that blockchain games have always faced: one is that frequent interaction between game actions and the chain affects the experience of the game and also puts a burden on the chain; The second is the black box problem of games.

In addition, The Dark Forest's entire game logic runs on a chain, which is different from previous chain games that only link the core, the core logic.

At present, the Layer2 technology of Ethereum develops very fast, and all kinds of technology schools exist, which well solves the scalability problem of Ethereum and can fully support the operation of chain games. This is one of the reasons Cocos-BCX chose to embrace the Ethereum ecosystem as well as the BSC ecosystem.

After analyzing the current possibilities of chain games with The Dark Forest as an example, Reed went on to explain how to select public chains for current chain game development.

1. Performance. Support real-time interaction between developers and players;

2. Low rates. BSC is a relatively good "alternative" to Ethereum, which is currently expensive.

3. Good ecology. Ecological good means that there are enough users and enough assets;

4. Perfect EVM support. Lower the barriers to entry for developers.

Reed said that based on these considerations, Cocos-BCX also thought of a strategy when considering the selection of chain games, that is, to select side chains in the short term. For example, BSC can be selected at present. BSC, as a typical side chain of Ethereum, can meet most demands of chain games. In the medium term, choose Op Rollup because Op Rollup's EVM support is good and migration costs are very low for developers. The long term is ZK Rollup. If ZK Rollup solves EVM problems well and reaches 20,000 TPS like his latest ZKPorter, it can support a lot of applications.

Xiao Qing Ye: Wallet is the entrance of blockchain industry

Qing Ye, head of operations at MathWallet, shared three insights on the current NFT industry from a wallet perspective.

The first is the relationship between wallets and NFT. Xiao Qingye said that wallet is the entry of the blockchain industry, carrying assets storage, transfer, display, trading and other functions, which is also applicable to NFT assets;

The second is the wealth effect of NFT. The popularity of Crypto Cat in early 2017 inspired NFT's first big hit, but there wasn't enough NFT long tail at the time to generate a bigger buzz from blockchain games. This year Beeple's NFT collection of 5,000 paintings sold for more than $60 million, directly triggering the "in and out" craze, and people are looking for ways to get involved.

Xiao Qing Ye also said that in her opinion, the biggest problem of NFT at present lies in the lack of liquidity. "Now I trade in the user secondary market, and then I'm gone. I won't pay attention to this thing anymore. It's just that people are not paying more attention to the secondary market and what's going on after that."

The third point is to hope that we can become a member of the NFT world. From Qing Ye's point of view, NFT will be applied in a wider range of fields in the future. At present, when her friends were planning Comic Con, they discussed with her whether MathWallet Wheat Wallet could provide NFT support, so that Comic Con tickets could be made into NFT and sent directly to users' mobile phones, and NFT tickets could be used as exhibition mode.

"I think this is very memorable, users get later, after seeing the NFT, can think of me to attend the show before, or chat with their children later, before your dad have something relevant to participated in the field of NFT, I think this thing is very memorable."

"And he has been on the chain, you can send to your good friend, presented to them, I think this is a very useful scenarios. Including later what invoice, or a few application scenarios, there is a very VR and the future of the era of a top player, is it the inside of the movie scene is virtual, I think connectivity with NFT is going to be a possibility, and that's what we're working towards."

Round table | NFT industry is still early, which people should pay more attention to structural description after their interest

At the end of Meetup, Jeff, Ms. Li, Ms. Ye, and Celilia shared their views on the NFT industry.

Jeff further share current he saw NFT project, from the direction such as privacy, copyright, further to share his views of NFT, "when we are really like one thing, we will pay attention to the value of his very much, we won't use authentic things to change, for instance, piracy, we will feel genuine things better. Similarly, When NFT combines with DEFI, the fake stuff has no value and cannot be mortgaged, leased, traded, etc."

"In terms of mobility, if you're a creator, you start with a local platform for your work, but when you NFT your work and put it online, you go from a regional audience to a global audience."

Ms. Lee, the founder of Dego China, said bluntly that there are many NFT concept projects that are not worth her while. "It doesn't matter how much you do when you're going in the wrong direction," she said.

Black lady lee thinks, "we are in the NFT has brought to people's interest in early stage, people begin to pay more attention to the value of IP + NFT, but it is still a narrow direction, then we should pay more attention to NFT as the value of structure, a NFT can carry include name, image, address, and so on numerous information assets, This also further supports NFT operability, allowing users to create and trade their own NFT assets."

At the same time, she said that NFT can solve the industry's trust issues and reduce transaction friction costs in the Level 1.5 market. For example, NFT asset pack is formed in the form of NFT. In the asset pack, the unlocked time, the person who receives the unlocked asset and the number are written down. In this way, the 1.5 level market can flow, and there is no need to find a trusted friend, and make sure that he will not violate the rules and run away.

Xiao Qing Ye said, in view of the current players on the NFT assets display demand is a good direction to explore, but also the wallet can make a contribution to the NFT field. "As more and more developers join the field, there will be more sparks, even implementing some of the things in Ready Player One. I think that's the future, and I hope we can guide the NFT industry in a better direction together."

Celilia, as the person in charge of ROCKI in China, explained that NFT could solve many problems of unbalanced profit distribution in the music industry from the aspects of copyright and income. For example, with NFT, artists and musicians can directly sell their NFT works to their favorite people on the platform. A lot of trouble can be saved in the middle, and the development of NFT will also help to confirm the copyright.

In addition, Celilia believes that NFT ecology is still in the state of early development at present. In this case, the excessive number of NFT will affect the liquidity of NFT assets, and financialization is an important means to support the development of NFT, because players in the NFT market are still dominated by those in the blockchain industry. People will be more interested in making money than the artistry of the NFT itself.

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