As of February 25, 2021, the price of Bitcoin has soared by 476% in the past year. After nearly 10 years, the cryptocurrency has won the favor of more financial institutions and top technology companies. For example, Tesla, a well-known US listed company, used about 10% of Tesla’s cash reserves to invest US$1.5 billion in Bitcoin in January 2021. Dan Bin, founder of the well-known Chinese private equity fund manager Dongfang Harbor Investment Management Company, also On February 18th, I immediately purchased 1% of the total share of the Bitcoin ETF (ETF-Purpose Bitcoin ETF) listed in North America.
As the "story" of cryptocurrency is gradually accepted by the world's top investors, the underlying technology blockchain and its application ecology are once again sought after by venture capital institutions and hedge funds representing "smart money". Sequoia China announced on January 12, 2021 that it has officially become a strategic partner of the fund Dragonfly, and is committed to exploring opportunities in the blockchain ecosystem.
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Ethereum NFT Tokens and the Digital Collectible Business
Purchasing collectibles is a reflection of personal hobbies and self-identity. In 2015, Martin Shkreli, a former hedge fund manager and founder of a pharmaceutical company, purchased the $2 million hip-hop music album "Once Upon A Time In Shaolin" on the online auction platform Paddle8 This magnified his personal influence and became a hot topic among American millennial Internet users at that time.
NFT (Non-fungible Token) is a non-homogeneous token. Different from the design of Bitcoin, the important characteristics of NFT tokens are uniqueness and the smallest unit is 1 and cannot be split. It is often used in games in blockchain game applications Item confirmation and pricing transactions.
In recent years, with the popularity of digital artists and card game players, blockchain-based digital collections have gradually attracted attention. In February 2021, the well-known auction house Christie's announced that it will cooperate with MakersPlace to auction the works of digital artist Beeple. In 2021 On February 12, the well-known hedge fund Coatue Management (which has invested in Didi Taxi, Hey Tea, Manner Coffee, Ruixing, etc.) led the financing of 250 million US dollars for the NFT blockchain game development team Dapper Labs, with a valuation of 2 billion US dollars The scale shocked the blockchain industry.
Compared with the scale of financing of nearly one million US dollars in blockchain DeFi applications, the financing amount of NFT blockchain ecology is obviously more favored by capital. The single-day trading volume reached 64 million US dollars, compared with only 37,000 US dollars a year ago, and the market size has increased by more than a thousand times.
According to data from DappRadar, the top three NFT products currently auctioned by transaction volume are the NBA Top shot game based on the Flow blockchain, the Crypto Punks collection based on the Ethereum blockchain, and the NFT exchange OpenSea. As of February 25, 2021, NBA Top shot has a daily transaction volume of US$10.64 million and 84,000 users, ranking first in the NFT field.
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Institutional capital layout NFT
Millennials and Generation Z in the United States grew up in the Internet environment and have a relatively high acceptance of blockchain games. With Coinbase, Robinhood and CashApp, which are commonly used Internet products by American young people, they can easily purchase Trade digital currencies and blockchain-based digital assets.
Blockchain art collections and card trading games are gradually entering the vision of Internet users in North America, and many world-renowned artists are also beginning to try to embrace the wave of digitization of art collections, such as Christie's (Christie's), which will end on March 11, 2021. ) in the NFT-based digital art auction, the highest bid for the work of the artist Beeple was as high as $1.8 million.
From January 2021, after the well-known listed company Tesla purchased 1.5 billion bitcoins, more Internet venture capitalists and hedge funds representing "smart money" have also begun to focus on blockchain-native applications. Well-known Internet investment institutions and hedge funds such as Coatue Management and Benchmark have invested in the well-known development team Dapper Labs (the development team of Flow blockchain and NBA Top shots) and Sorare in the blockchain NFT field. These two investments are in the sports card The field of cards (NBA and football cards) has a relatively high reputation, and its financing amounts are 250 million and 50 million US dollars respectively. In particular, Dapper Labs has a total valuation of about 2 billion US dollars, which represents the market's confidence in this vertical field. NFT art trading platforms Rarible and Async Art also received millions of dollars in financing in the same month, and well-known funds focusing on blockchain applications participated in the investment.
Professional investment institutions are usually more sensitive to the cycle of the industry. With the obvious institutional characteristics of digital currency and blockchain ecology, NFT investment has become the main theme of the market in the first quarter of 2021, and may be a hot spot in the market in the next year Will welcome the change.
, Use data to understand the blockchain.
LongHash, Use data to understand the blockchain.
