At 6:00 pm on March 9, 2021, Math Wallet held the 18th issue of Math Show. We were honored to invite PM Lu Yuanyuan from Math Wallet, Hei Zili from DEGO China, CBO Mik Naayem from Flow, and special host Winkrypto AnneJ , with the topic "Is NFT the next opportunity for gold diggers", the following is a wonderful writing of the night (partially translated)
Black pear:
I believe that many friends around me have dug the early head mine of DEGO. DEGO is a DeFi + NFT project. Many people ask me what is DEGO? In fact, in my knowledge, DEGO is different from 99% of the projects on the market.
If you are interested, you can take a look at DEGO's roadmap and log. Its boundaries are relatively blurred. The early anti-monopoly popular mining, and the later airdrop blind box are challenging our understanding and cognition of NFT.
DEGO’s functional sections are not yet fully public. For example, the hunter’s functional section has not been opened yet, and the usage scenarios of Dandy have not been made public. I think DEGO itself is also evolving, and all of us are participating in this evolution process. Recently, one of their new products, TreasureLand, has already had a turnover of 3 million US dollars on BSC, which is the largest NFTmarket in BSC.
I personally think that DEGO is actually a product without borders, because in the future, its layout will not only include NFT marketing, but NFT marketing has many innovative things. Furthermore, DEGO may announce a new gameplay around April, which is different from all NFTs currently on the market. Personally, DEGO is an exploratory experimental product, because the team itself should also be thinking about a question: In addition to encrypted art, what else can NFT do?
You can understand that DEGO is a financial experimental product with NFT and DeFi. As for what it wants to do? What is the future map? What is the application scenario? I believe it will be made public slowly, and it will definitely be substantially different from the products on the market.
Lu Yuanyuan:
Hello everyone, I am Lu Yuanyuan. I am in charge of Math Wallet public chain ecology and application-related products, and I have some understanding of NFT.
First of all, let me introduce the current situation. Recently, NBA Top Shot surpassed the historical total transaction volume of CryptoKitties in Flow, and it has the potential to go out of the circle.
It will benefit both the blockchain industry and the NFT track. Recently, its historical trading volume has surpassed CryptoKitties and has become the largest NFT application at present.
There are a large number of participants and most of them are outside the circle, which can make them gradually understand and believe in blockchain and NFT technology, and even they are already using blockchain applications without knowing the principles. As an NFT application circle, it is not easy to explode. Personally, I think there are three reasons.
The collection history of star cards, fans have long accepted such peripherals, and can accept electronic star cards and blockchain star cards.
The fan economy, the recommendation of NBA stars and the popularity of the development team make this type of collection lovers move.
The experience of Internet products does not require collectors to first learn to use the blockchain and create a wallet.
Secondly, NFT is gradually becoming a hot spot in the market. Cent’s first tweet was bid for 425 W dollars, and a painting by beeple is currently auctioned at Christie’s for 350 W dollars. Encrypted celebrities, KOLs, musicians, artists, and football stars have tried this track.
Individuals can classify NFTs in the following ways:
The first is art, such as digital art.
The second is collectibles, such as encrypted cats, signs and symbols on the chain, or collectibles with a stronger industry nature.
The third is games, such as NFT issued by game applications, which are more game-like.
The fourth is voxel 3D, which represents some NFTs combined with VR and AR in the future.
The fifth is sports, such as football, basketball, baseball, etc., which are supported by IP and NFTs that map reality.
The sixth is a relatively large functional NFT, including domain names, memberships, and corresponding NFTs with services, advertising-free, discounts, mining governance, and DeFi integration.
The whole trend, or the hotspots will change with the market changes, playing new rather than old.
In terms of collection value, art, collection, and sports have high unit prices, poor liquidity, and high premiums. Practical and functional NFT is the best, and the services provided are more realistic.
More NFT content can be experienced with Math Wallethttps://mathdapp.store/?tag=NFT
Moderator AnneJ:
Before the start of the event, we have extensively collected questions. Regarding the questions submitted by some group friends, please come and chat with us tonight's three guests.
In the field of NFT art, how to identify valuable works, how to identify the price level, and what is the most valuable investment and collection field for NFT?
Lu Yuanyuan:
It is very difficult for ordinary players to look at works of art from the perspectives of appreciation, humanities, and history. Everyone hopes to buy high-value works at a low price. This behavior is called picking up leaks in the antique market; Works that are low-value or even worthless are called punching eyes.
It is more difficult to become an art master, but it is relatively easy to become a data master. You can compare the historical transaction price of the author's works, the number of Twitter fans, the popularity of the work, and the weight of the IP to avoid many pitfalls.
The following two data websites are recommended
The stored value of NFT is not only determined by the works, but also by the collectors themselves. For an NFT worth $1k in the market, the price of encrypted celebrity collections and ordinary people’s collections will be very different in the secondary market. Therefore, many collection stories cannot be simply imitated and shared. copy.
In terms of collection unit price, NFTs with higher unit prices are mostly works of art, and in terms of return rate, functional NFTs have higher growth potential.
Moderator AnneJ:
How do you view the current users' upsurge in NFT auctions? Are most of the NFTs on the market worthless? How is its value assessed?
Black Leech Plum:
Before discussing this issue, we need to be clear that value is not equal to price.
Based on this premise, we conduct the following dialogue.
I think the current situation of most NFTs on the market is
1. No value
2. No price
Why do you say there is no price? Because most of the long-tail NFTs do not even have liquidity and cannot be sold at all.
Why do you say it has no value? Here I think that no price does not mean no value.
Why do you say it has no value? Here I think that no price does not mean no value.
"Value" is a metaphysically abstract concept, and it has many "evaluation criteria":
"Abstract theory"
"Mystery"
"Relationship theory"
"nature theory"
"Speaking of emotion"
"meaning"
"need to say"
"Amount of Labor Theory"
"Subjectivity"
For me, the novels I wrote when I was a teenager are very precious to me. This value is very great to me, but it is of no value to others temporarily. Why is it temporary? Because I don’t have this kind of influence for the time being, you can think about the value of Lu Xun’s notes in his youth.
If I leave a mark in history in the future, may the NFT issued on behalf of it suddenly become very valuable?
Today we are discussing the value in a broad sense, which is the standard that most people in the world may recognize in the future. Let me declare that I am not worthy of the title of "collector". Criteria for judging the importance of NFT:
1. Scarcity
2. Specificity
3. Author of the work
4. Work background
1-3-4 There is no need to explain these three points. Let me explain the second point. If the country uses NFT for the first time in the future to award outstanding talents with outstanding achievements, is it very special?
Moderator AnneJ:
When can Flow be extracted from NBAtopshop?
Mik：
(The following is the translation part)
NBA Top Shot is currently on the Flow chain, and NFT-related events are minted and recorded on the Flow chain.
Dapper wallet is currently a managed wallet supported by Circle, so users will have a very smooth use and payment experience, because we built Dapper wallet and Flow on the parachain.
Dapper Wallet is not yet integrated with the Flow client, which will connect Dapper Wallet to all other wallets on Flow, such as Blocto.
Our team is currently working on this, and the new feature will allow users to move their Top Shots to other wallets, such as Blocto, hopefully sooner rather than later.
Moderator AnneJ:
Why is Flow a good blockchain for decentralized applications?
Mik：
(The following is the translation part)
First of all, Flow is not only for NBA Top Shot, but also for all companies or developers who want to develop apps and attract millions of users, and we already have hundreds of developers on Flow.
Developers like us face many problems when trying to build blockchains on other public chains, so we created Flow. The problem to be faced when building is not only scalability, we need a faster chain, but also easy to use and secure, at the same time, it needs to be convenient for users to access APP. In the end, it needs to demonstrate the true strength of blockchains — composability.
So we built Flow from the ground up to be a scalable blockchain that doesn't require sharding so that developers can run their businesses on it and regular non-crypto users can use the apps.
Moderator AnneJ:
Do you have any detailed plans for supporting artists to create on Flow? Or what are the plans for the future?
Mik：
(The following is the translation part)
Artists and creators are very important to the blockchain ecosystem and its applications. For ordinary people to understand the advantages of blockchain, that is the ownership of creative content, and Flow has formed an ecosystem composed of third-party developers. Great support for artists and other creators.
Viv3.com, Flow's first art marketplace, has changed the lives of many digital artists. For example, Ben Maura held the first NFT airdrop last week and sold his entire collection worth $2 million in 7 minutes.
We also have a lot of developers helping us create new marketplaces and marketplaces for creators like athletes, musicians, artists, and more, including Opensea!
And the great thing about Flow is that the cost of doing this is very low, so people who are not very wealthy can also buy encrypted art, just like Ben Mauro, more than 3,000 people participated in this activity. This creates a sustainable fan base for the artist, unlike on Ethereum where only a select few can participate in the airdrop.
For different types of creators, dozens of new markets have developed on Flow, which I think will attract a whole new wave of creators and fans to the blockchain world.
Moderator AnneJ:
The NFT market is gradually heating up. What is your attitude towards the next development of the NFT ecosystem? At what stage might an opportunity be born or explode?
Mik：
(The following is the translation part)
Although NFT is very hot now, and NFT artwork is sold at record-breaking prices, I think we are still in the early days. Currently only thousands or tens of thousands of people own NFT, but it is clear that in the future, everyone will own their own assets, which will allow the budget for developing applications to increase and allow people to promote the quality of NFT applications.
Thanks to the success of NBA Top Shot, a new wave of entrepreneurs has been funded by VCs and investors to enter our field, which will improve the APP budget and the overall quality of NFT applications.
These new developers will focus on crypto peripherals and mainstream consumers, which has the potential to attract millions of new users, so by the end of this year, I speculate that more than 5 million people will own NFTs.
But in 2022, the appearance of those high-quality, high-budget apps will have a big impact on the market, and the number of users will increase from millions to hundreds of millions. And in the next 6 to 12 months, mainstream artists will launch their first NFT, which will cause a sensation.
But in the next 12-24 months, developers will develop stickier products, convert users from one-time purchases to daily activities, increase user stickiness, and build a large market.
In the end, the combined value of NFTs and DeFi is huge because people can loan, lease, and subdivide their NFTs, and use the funds to buy more NFTs, which will help our industry grow by orders of magnitude.
Black pear:
NFT is only at the earliest stage now, and most people only pay attention to the entry of IPs like NBAtopshot. Recently, I found that many companies outside the circle also want to come in to make a quick buck. In my opinion, this golden period is very short , There is no innovative approach or a chicken feather. There are many aspects of the NFT industry. We look at the NFT track from the perspective of IP. I think there are three stages:
In the first stage, a large number of IPs are overheated. Entrepreneurs in the market, whether related to NFT or not, are looking for IP cooperation everywhere. Even investment institutions and media are looking for IPs. Everyone wants to get a share of it. At present, IP is still a new thing. In the short term, institutions will fomo each other. Recently, even a top foreign institution is investing in a third-rate IP project to raise funds. Needless to say, domestic Internet celebrities can come out to make an NFT project, and the organization actually voted for it...
channel
ip>channel
The second stage is homogeneous competition. The result can be imagined. After a large number of IPs enter the market, weak IPs will not be competitive, and the market will quickly become fatigued. At this stage, the advantages of top projects will gradually be reflected.
Summary of the second stage:
ip=channel
The third stage is to fight for ip utilization rate and long-term ip acquisition projects, long-term ip acquisition and in-depth cooperation to build an ecological moat. Many entrepreneurs do not think about this point. Why venture capital is willing to invest is to find the CEO who knows how to spend money best. In the same way, ip will always converge on the strongest projects, because they know best how to monetize and how to better develop the use boundary of ip, and even how to protect the reputation of ip.
Summary of the third stage:
ip<channel
The above is just my understanding of the business in the NFT+ip field. To be honest, I am not excited about these combinations.
I am more interested in NFT+DeFi, which is the breakthrough of the boundary of NFT and even the blockchain industry. I firmly believe that NFT is a technical underlying facility for the blockchain to better describe the world.
As the size of the NFT market gradually grows, a large number of NFTs stay in the wallet and become silent assets. How to improve capital utilization and mortgage these assets so that both supply and demand can benefit from it. Based on this, there is NFTfi, although I don't agree with its current model, but in the long run, someone must come out of this track.
At this stage, the liquidity of NFT is insufficient, and the transaction threshold is too high. How to make the transaction of NFT easier, as simple as FT? Based on this, there is NFTx. Although I still don't approve of its model, in the long run, someone must come out of this track. And, they are said to have taken DCG's check.
The early days of ETHLend were particularly underwhelming, and during the bear market of 2018 and 2019, the ETHLend team overhauled their product and released Aave in early 2020.
This is the most recent weekly estimated earnings for Aave. By the way, Stani is also one of NFTfi's angel investors.
NFT and FT are relative, and it should not be an independent existence, just like no one regards FT as an independent track. In reality, the transaction of non-standard products is much larger than that of standard products.
At present, I am optimistic about the field of NFT+DeFi. DEGO has driven the trend of "NFT blind boxes". Next, DEGO will launch a product that will subvert the usage scenarios that everyone understands about NFT. I believe this will make people rethink the relationship between NFT and DeFi. financial relationship.
Lu Yuanyuan:
The NFT track is more imaginative than DeFi. Although the infrastructure is weaker than DeFi, it will get better and better. In the future, more and more people will accept it, the wider the effect of getting rich in the market, and the market size will increase by another order of magnitude. , When more scenes are obtained, NFT will naturally become a hot spot.
To put it simply, I am optimistic about the long-term development of NFT, but we need to exercise restraint on short-term FOMO sentiment. Currently, liquidity is an unresolved problem for NFT. A small number of NFT applications can compensate for liquidity through token incentives.
Moderator AnneJ:
Link:
Link:http://mathshow.mikecrm.com/2QEz163
So far, this Math Show #018 "show" friend meeting is over, thank you again for your time and listening, we will see you in the next issue, good night everyone~
