CryptoArt.Ai's "Bid To Earn" and "Share To Earn" are the first step in DAO autonomy

Original Title: "CryptoArt.Ai Originally Created "Bid To Earn", "Share To Earn", The First Step Under DAO Autonomy"

Original source: CryptoArt.Ai

At present, NFT is still in a value depression. Although it has experienced two market climaxes, it is still a castle in the air for most people. So how to make NFT universal is a question that CryptoArt.Ai has been thinking about. Conduct in-depth analysis from the source and circulation of NFT, return more DAO power to users, and return to CryptoArt.Ai's original intention of "everyone is an NFT participant", and its original "Bid to earn" and "Share To Earn" It is more likely to become a market weapon.

NFT Market Status: The Bid Dilemma

"Bid" is essentially a very simple matter, all you need to do is bid on the chain. However, the seemingly simple bidding has many difficulties in the actual process.

· On-chain fees are too high. At present, most NFT platforms prefer to use the ETH network, which is directly linked to the high gas cost of Ethereum. In order to make up for the cost of going to the chain, artists will directly increase the cost to the NFT works, which directly leads to no one bidding. Or the status quo with an extremely low transaction rate;

·The popular artworks have a typical feature: high quality and low frequency, high price, and the use of buying back is Very low frequency, which leads to difficulties in secondary market circulation;

· Blind hype leads to the deviation of NFT value, many players focus on the form of NFT, while It is not the work or asset itself, because this form has hype value. The overheated market hype has caused the NFT market to enter a cooling-off period at a speed visible to the naked eye.

NFT owners cannot enjoy more benefits besides NFT popularity and reserve price appreciation, which directly leads to the lack of direct incentive mechanism for such players Unable to actively participate in NFT auctions. How to enable more people to participate in NFT auctions and promote market circulation is a question that CryptoArt.Ai has been thinking about. This time "Bid To Earn" and "Share To Earn" are based on market expansion and independent personality under DAO. Deep excavation.

“Bid+Share” is the basis for realizing value coexistence

FT is consensus, while NFT is empathy. Empathy is the root of the value of NFT, an irrational network effect. Then in the NFT auction, bid is its value transmission, and share is the channel for value transmission.

In the current NFT market, in the second Among the level sales, the CryptoArt.Ai platform accounts for only 1.5%, which may become a new channel to open up the secondary market and promote NFT circulation, which is directly related to the newly designed "Double Earn" model in the V2 version.

According to the regulations of CryptoArt.Ai, only the auction bid during the 24-hour countdown can get the "Bid To Earn" reward, the inviter invites others to participate If the bid is made, the inviter can get the "Share To Earn" reward. Since the launch of 2.0, all 24-hour countdowns on the CA platform are eligible to participate in the "Bid To Earn" and "Share To Earn" programs.

We noticed that during the 24-hour countdown, whether it was a first auction or a second sale, bids All inviters have a 5% ratio, and all inviters have a 1% reward, which is different from the one-way artists, collectors and essences of the previous V1. From the perspective of the entire auction itinerary, "Bid+Share" is more focused on maximizing player involvement, not the end of a static auction.

To put it simply, "Share To Earn" is to invite others to make a bid. If the bid is successful, the inviter can receive a 1% bid reward. This is completely cost-free and can be directly participated. Any user can post a link to interested NFT enthusiasts and collectors.

According to the "Bid To Earn" system, among the NFT works in the 24-hour countdown, the first bidder will receive the difference between the bid and the starting price 5% reward, and then the second person bids, the second bidder will receive a reward of 5% of the price difference from the first bid, and the first bidder's bid will be returned, and additionally harvested 5% bonus for bids...

And so on, the latest bidder can receive a 5% bonus for the price difference from the previous bid, which will make the A certain NFT work can gain a relatively high degree of attention in a short period of time, causing more users to "crowd" at the same time. The "Bid To Earn" system predicts that artists will receive higher income, because the continuous bidding of "Bid To Earn" itself, to a certain extent, the artist's income will also increase significantly. The "Share To Earn" as the bridge in the middle is the carrier, extending from the inside to the outside, and the "Butterfly Effect" begins here. With the continuous increase of NFT gameplay and value, "Bid To Earn" will eventually become "Bid = Earn"!

“Bid+Share” is a gradual change from centralization to DAO autonomy

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The bidding models of B2E and S2E draw on the long-standing transaction model and ecological economic model of CEX. Artists and collectors take roles as the dimension and rewards as the expansion channel to further expand the consensus of collectors and build the early prototype of "NFT gold".

This is similar to YGG’s gold-making model. They both target the “free” players in the market. They are actually the “top of the funnel” for NFT auctions , is also a potential consumer. From the success of YGG, we have learned that: in encrypted games, the "top of the funnel" may be NFT collectors or landowners. To tap potential users requires a combination of channels and reward mechanisms. This time, CryptoArt.Ai V2's " Bid+Earn" is a good attempt!

Buying or auctioning an NFT work, from the collector's point of view, is not only the holder of the digital ownership of the NFT, but also an identity proof right. At present, CA has cooperated with the on-chain wallet Mask and the Polkadot ecological decentralized cross-chain identity protocol Litentry to provide blockchain identities to more NFT holders, and holding a Web3.0 ticket will no longer be just talk on paper. In CA 2.0, starting with "Bid To Earn" and "Share To Earn" as the fuse, we will convene the power of a real top-down community DAO to realize a virtuous circle of NFT ecology.

Summary

Take Share as the line and Bid as the surface , we firmly believe that the "Bid+Share" mechanism will attract more collectors to buy works of their favorite artists, and these enthusiasm will become a strong support for the accumulation of the entire CA platform.

In the future , CA will also try a variety of DAO governance models, set up fund pools, DAO groups and other methods to stimulate CA's co-governance ecology. In CA's self-growing ecosystem, more ecological projects and plug-in wallets will be gathered, one end is connected to the source of NFT, and the other end is connected to the Web3.0 world. Every user joins, and the ecology will deepen. These The trickle will eventually become the sea, and CA is the source.

This article is from a contribution and does not represent the opinion of Rhythm BlockBeats.

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