In an era when all data can be copied, how can NFT allow you to own an exclusive collection?

Recently, the news that Tencent launched the NFT transaction APP has attracted wide attention from NFT collectors. It is worth noting that Tencent is not the first Internet giant to enter the NFT. As early as June this year, Alipay launched the payment code NFT skin based on the ant chain, which attracted wide attention in the industry. The NFT, priced at 9.9 yuan, was sold by collectors for thousands of yuan at idle fish.

The collection market has always been enthusiastic and seething. Investors, collectors and scholars have always been willing to spend a lot of money to buy high-priced collections. In May this year, the first NFT space art work of Xu Bingtian Book Number released on the iBox platform sold for 2 million yuan, setting a record for the highest unit price of a digital collection in China. After traditional Internet giants successively entered NFT, NFT has been increasingly valued by people. This new thing is redefining the concept of "collection".

How does NFT redefine "collecting"?

The emergence of NFT challenges people's nerves. His innovative ownership proved that he created the potential to change the art world. The value of a work of art comes from the enjoyment of artistic aesthetics in spirit, and the carrier is only the material means or media system for artists to convey aesthetic images. With the progress of technology, the emergence of new artificial carriers has enriched the means for people to master the world in an artistic way.

In the period when creation depended more on natural carrier, the creation language was relatively poor, but the appearance of artificial carrier greatly enriched the artistic language. Artificial paints, for example, can express color more richly and delicately. In this sense, the emergence of NFT is a breakthrough, a revolution.

NFT brings not only changes in creation, but also stimulates the circulation of art by joining the NFT wave. The emergence of NFT is changing the art ecology and challenging the agency relationship between galleries and artists to some extent. Also let the buyer can skip the gallery, middleman to the trading platform to buy, get rid of the opacity problem.

In a traditional art market, the primary market (galleries) and the secondary market (auction houses) control most of the art circulation. The NFT, on the other hand, is decentralized, challenging the agency relationship between galleries and artists to some extent. Also let the buyer can skip the gallery, middleman to the trading platform to buy, get rid of the opacity problem. "The decentralization advocated by the NFT does not exist in the traditional art market where you have to graduate from an art school and have your work selected by a gallery to make a living. Instead, every creator can make money based on his or her talent." Some collectors so to the rhythm of the explanation.

Decentralization does not mean that there is no threshold, more accurately, the NFT has decentralized the collection pricing power. No one has the right to decide the value of a work based on their own preferences and perceptions. Collection should be based on one's own cognition, understanding of the work and the views generated after communication with the artist. When NFT art appeared, the spontaneous generation of decentralized art works brought subjectivity to creators and works in a true sense.

Take interest collection as an example, on July 30, iBox platform has launched a little yellow duck blind box. This blind box was issued by the famous Pancoat company under the license of the well-known game MEGA HEROES in the industry. The first issue of 1996 blind boxes was sold out immediately after the launch. The SSR yellow duck has been sold at a premium of more than ten thousand yuan in the trading market, more than one hundred times the issue price.

Technology neutrality: Misconceptions about NFT need to be clarified

NFT works, as works using NFT blockchain technology, generate a unique code that cannot be tampered with for digital works on the chain to ensure their uniqueness and authenticity. Technology itself is neutral, with no clear value orientation. But many people use NFT as a proxy for a certain type of virtual currency, which is misleading.

It should be noted that NFT itself is not the object of transaction, but the digital goods that realize the above functions through NFT technology are the objects of transaction, and the corresponding value is also realized by the digital goods. NFT is a non-homogeneous electronic certificate that records the rights of digital works and the historical transaction information. The NFT is unique and indivisible and is not issued for the purpose of financing.

Collections traded through NFT are first and foremost collected for display, which provides social value to users. When people form a consensus on the value of the collection, collectors' cognition is not limited to the collection, but also to the collection of other collectors of the same kind of knowledge. Therefore, the market price reflects the value consensus of the group, rather than the value cognition of an individual. For art, interest collections, multimedia works and other things, collectors will form community consensus for the reasons of the story, emotion, narrative, recognition or resonance of the community behind them. The emergence of NFT enables this community consensus to be maintained at the lowest cost. NFT is proprietary, unique and indivisible. It is not only a collection, but also a carrier of consensus.

IBox, for example, has been working to give more social value to digital collections, a direction that could bring new imagination to digital collections.   IBox has collaborated with a number of well-known artists to publish their NFT works. Rather than a physical collection, this collection is more about maintaining the common value of fans and providing social value for collectors.

At present, AS a new field, NFT still needs to be known and recognized by more people. As a new creative medium, NFT can not only empower creation, but also is the best choice for copyright protection of digital works based on its imtamability. It can let IP really control the right to speak.

Take film peripheral as an example. Previously, the development of film peripheral was often restricted by many factors such as long cycle, uncertain product quality control and low collection value, while THE NFT collection is not. NFT platform iBox has jointly released the first set of NFT series in China with the producer of the movie "The Three Kingdoms". This series of NFT works involves a total of 30 different forms of props and posters in the movie "The Three Kingdoms", including stilts and costumes of characters played by Gulina Za, Louis Koo, Carina Lau, Wang Kai, Han Geng and others in the film, which is the first attempt of cooperation between domestic digital collection e-commerce platform and head film IP. The derivative products around the film are also mostly combined with the reproduction and reproduction of classic scenes, with the support of many first-rate movie stars, and the whole set of NFT works have strong enjoyment.

NFT has a broad application prospect, far beyond collection

Picasso once said, "Art itself does not evolve. Its forms of expression change only as human ideas change." When the industrial practice goes ahead of the theoretical boundary, artists have to do a lot of innovative attempts and thinking in order to get more feedback. Nothing is more important than an artist's thoughts. A work of art can be expressed through painting, photography, sculpture, behavior, language and other ways, and the artist needs to choose, only which kind of expression is more appropriate. Blockchain technology provides a richer and more revolutionary medium and means for art creators. The birth of NFT transformed art into a new value orientation, as well as the carrier to present and carry this value orientation.

But that doesn't mean crypto art isn't problematic right now. The NFT industry is still in the early stages of exploration. Artists are also wary of being seen as new concept adherents chasing short-term profits, with less than 1 percent entering the field. At present, there are also some confusion in the market, such as infringement, plagiarism and other problems occur from time to time, and the solution of this problem depends on the supervision of the platform. At present, the importance of the platform in the NFT trading market is still very important, a benign development of the platform, the entire market will have a positive effect.

In the future, when the application of NFT is popularized, it may form an ecology that benefits creators, collectors and the community together. In the traditional collection market, once the works are sold, no matter what price is circulated in the secondary market, the creators cannot obtain additional income; At present, most NFT art platforms include the artist's share in the underlying agreement. After the artist sells his work for the first time, he can still get a direct share of each subsequent resale.

In addition, iBox platform has released the first set of public welfare NFT works in China, which has pioneered the use of blockchain voucher technology to help public welfare undertakings. Art, interest collection, public welfare, copyright protection... The range of NFT applications is expanding. As a new thing not so long ago, NFT is getting closer to the general public. In the future, with the popularity of NFT and more applications, the prospect of this track will be far from just a collection, or will become the main battlefield of IP operation.

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