Editor's Note: This article comes fromHay's theory, Author: Heifeng Li, reproduced by Odaily with authorization.
Hay's theory
Hay's theory
, Author: Heifeng Li, reproduced by Odaily with authorization.
image description
Historical data of NFT transaction volume (data source: NonFungible.com)
This is mainly limited by the narrow application scenarios and audience range of NFT. If NFT can have relatively rich application scenarios and gameplay like FT, and its transactions can be simple, easy to operate, and easy to earn, then the NFT market will soon become popular. , thus ushering in an explosion. The NFT Market launched by DEGO recently is to solve these two problems.
DEGO is currently a star project in the NFT market. After the launch of the DEGO NFT plate (GEGO), it has been bombarded by multiple creative gameplays such as airdrops and auctions, making it the number one trading volume in the NFT market. A large number of GEGOs are minted every day and transactions.
NFT trading volume ranking (data source: Etherscan.io)
The DEGO team has not slowed down because of this, and has recently made new moves. On October 12, DEGO announced the launch of NFT Market on its official Twitter. NFT Market is an NFT exchange where players can buy and sell NFT.
The NFT types supported in the NFT Market are not limited to GEGO minted on the platform, but also support third-party NFT transactions. In addition, the NFT Market currently only supports fixed-price transactions, and mainstream auction methods such as English auctions and Dutch auctions will be launched in the future, as well as the FOMO auction gameplay that has recently made DEGO popular.
A few hours after the launch, dozens of NFTs have been listed for sale in the NFT Market.
secondary title
1. The gameplay of the existing NFT trading platform
The trading of NFT is still in the early stage. The trading venues are mainly concentrated in trading platforms such as OpenSea and AsyncArt. The auction method is also the same as the traditional auction. There are mainly three types of buyout transactions, English auctions, and Dutch auctions.
English-style auction: Set the starting price and auction time, and the highest final price wins through user bidding.
Dutch auction: set the start price, end price and auction time, the start price is higher than the end price. As time goes by, the price will gradually drop from the starting price to the ending price until a buyer buys it.
These mainstream NFT trading methods follow the rules of the traditional physical auction industry and are more friendly to traditional auction players.
However, this is both an advantage and a disadvantage. The traditional gameplay is difficult to attract the interest of ordinary players. After all, most people cannot accurately evaluate the value of encrypted artwork or other NFTs, not to mention the learning threshold, operating threshold and ubiquitous Fake traps will discourage ordinary players, and these auctions can only be aimed at a very small group of people with a certain level of artistic aesthetics and a strong interest in NFT.
secondary title
2. Features of DEGO NFT Market
The DEGO project has always been known for its innovation, and some bright spots can also be seen in the DEGO NFT Market, which has differentiated competitive advantages compared with traditional NFT trading platforms:
1. Convenient trading experience
At present, the transaction logic of DEGO NFT Market is very simple. In the actual experience, the transaction process is very smooth, and the wallet is bound to pay for the account immediately. There is basically no need to pay much learning costs. It is very friendly to new users in the NFT market. When you encounter an NFT you like, you can buy it directly without cumbersome procedures, which is more convenient than trading platforms such as OpenSea.
2. No fakes
There are many NFT fakes in OpenSea. For example, before the NFT auction of DEGO at the end of September, a fake "Satoshi Nakamoto" appeared in OpenSea, and was bought by players who did not know the truth for 3 ETH.
On the other hand, DEGO NFT Market can avoid this problem. DEGO's own trading platform is absolutely fidelity, which is equivalent to "self-operated" in e-commerce, preventing players from suffering unnecessary losses.
During this period, the auction of DEGO NFT has received widespread attention, and high prices have been repeatedly auctioned. It depends on the lure of interest brought by the FOMO gameplay, and all participants can benefit from it, so that the auction is no longer the monopoly of capitalists and art lovers, and "speculators" like you and me can also benefit from it.
DEGO NFT Market will make this auction method into a general rule in the future, which is applicable to all NFTs including third-party NFTs, so that NFT transactions are no longer limited by traditional boring methods.
At the same time, according to the DEGO NFT auction method, the more NFT works participate in the auction in the NFT Market, the more income can be brought to DEGO's dividend pool, so that DEGO users can get more dividends, which is important for DEGO's currency price and Good for project development.
To sum up, DEGO NFT Market is improved on the basis of the traditional NFT trading platform to make it more suitable for players' needs, and with the addition of unique gameplay to attract more audiences, it has created a collection of FOMO, DeFi, auction An NFT exchange with many other features.
secondary title
3. Significance of DEGO NFT Market
The launch of DEGO NFT Market has the following significance:
1. NFT Market is a milestone in the development of DEGO NFT
DEGO's NFT trading volume ranks first in the market, with huge traffic. Part of these flows will enter DEGO's NFT mining pool, and the other part will flow to trading platforms such as OpenSea, which corresponds to the two most important NFT application scenarios of "mining" and "trading". The former is under the control of the DEGO project, while the latter is a wedding dress for OpenSea, which is an unnecessary traffic loss for DEGO. DEGO has no reason to let go of the cake of NFT transactions. NFT Market is a necessary measure for user retention and value retention under the current situation.
2. Fill in the vacancy of the NFT trading market
The current NFT trading market is full of "classical" trading platforms such as OpenSea. Their trading logic is basically the same as that of the traditional physical auction industry. They are not very interesting and playable, and do not have the essence of DeFi. For ordinary players, what they value is often not the artistic sophistication of NFT, but more about gameplay, creativity and benefits, which makes existing NFT transactions inconsistent with user needs.
3. Officially declare war on the classical NFT trading platform
The launch of NFT Market represents the transformation of DEGO from an NFT creation platform to an NFT comprehensive application platform, officially declaring war on the classical NFT trading platform. It's like a well-known Taobao store built its own e-commerce platform, and directly started working with Ali's father, not only to get your traffic, but also to grab your business.
Prior to this, many players traded GEGO in OpenSea, and DEGO’s official Twitter also recommended everyone to trade in OpenSea, which improved users’ awareness of NFT transactions, and also let players in OpenSea know about DEGO.
Now it seems that these operations are more like a long-planned conspiracy. DEGO first built momentum in OpenSea, and then through its own NFT Market, attracted the works and traffic in OpenSea, making it face the crisis of "out of stock". This wave of operations is comparable to the liquidity migration war between various "gourmet swaps" and Uniswap, but the difference is that the crisis of OpenSea cannot be solved by issuing a coin.
secondary title
4. Explore the future of DEGO NFT
1. DEGO NFT Market: From NFT label to NFT platform
2. ERC-908 NFT standard: from NFT platform to NFT ecology
The progress of DeFi projects is often very fast, especially for DEGO. In less than a month after its launch, it has completed a number of functions that have attracted much attention. Recently, the DEGO roadmap has been updated, and an NFT standard called ERC-908 appeared in the plan in October. Although we don't know the details of this standard yet, we can get a glimpse of DEGO's ambitions: the DEGO team may not only want to develop products at the application layer from the very beginning, but also want to make a subversion at the protocol layer and become a new industry leader. Standards, to make up for the shortcomings of the current Ethereum ecology, the previous products are more to demonstrate for the market.
Standardization is very important in every industry. In the real economy, standardization is the basis of assembly line production and global trade, and setting standards is equivalent to setting the rules of the game. The same is true in NFT. The standardization of NFT can reduce the production and distribution threshold of NFT, improve compatibility and interpretability, and facilitate the use of developers. If the ERC-908 standard is high enough, it will attract a large number of developers and creators to follow. , At that time, DEGO will also create a huge NFT ecology with the popularization of standards. In this ecology, DEGO will reap the value increase like Enjin.
ERC-721 made Enigma, ERC-1155 ruled the blockchain game, and also gave Enjin the honor. These are all past tenses. The current ERC-908 may allow DEGO to leave a mark in the blockchain history A bold stroke.
secondary title
