Original author: duoduo
Original source: LooksRare Chinese Community
In the past six months, more and more WEB2 brands have entered the NFT field and entered the WEB3 world, from consumer goods to luxury goods, from sports stars, entertainment stars, to artists, and then to traditional VC investors. Nike, Adidas, Li Ning, Jay Chou, Takashi Murakami, Fang Lijun, etc. have all joined the Web 3 world in their own ways.
In mid-April, Moonbird, an NFT project issued by traditional VC investor Kevin Rose, took only a few days, and the floor price rose to 30ETH, jumping into the ranks of top blue chips. On LooksRare, with the launch of the pending order reward, there are 10,515 pending orders in this series, with a cumulative transaction amount of 13,301 ETH. The amount of pending orders also surpassed Opensea for a time.
On the evening of April 25, 2022, the LooksRare Chinese community held the third tea party. The topic of discussion was: How will the accelerated influx of Web 2 brands into Web 3 affect the NFT market?
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Web 2 Brands Flood to Web 3: Finding New High-Net-Worth Consumer Groups
On April 24th, China Lining launched the peripheral clothing of Boring Ape BAYC#4102 and held an offline flash mob event. This is a very important step for Chinese brands. More Chinese brands will see the field of NFT and actively learn about it.
For enterprises or brands, no matter Web 2 or Web 3, it is a business. The Web 3 world has a very high-quality user group: young, global, high net worth, and high spending power. The influx of brands into Web 3 is to find new high-net-worth consumer groups.
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The Path of Web 2 Brands to Web 3: Independent Publishing or Acquisition Cooperation
Web 2 brands enter Web 3. At present, there are two main ways. One is to issue NFT by the brand itself, and the other is to cooperate with NFT projects. Brands issue NFT by themselves. Due to the problem of organizational structure, most of them are authorized to third parties to carry out, which is insufficient in sustainability and value accumulation. Cooperating with NFT project parties, such as Li Ning's purchase of BAYC's monkey, will have lower risks and costs, and there is no need to start construction and operation from scratch, and there will be no technical and distribution problems. More of a way to engage with the Web 3 community.
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Are Web 2 Brands Impacting Web 3 Native Projects?
The consensus of the guests is that NFT is still in the early stage of development, and the influx of Web 2 brands is revolutionary and innovative, and will bring more high-quality talents and high-quality assets, thereby continuously promoting the development of the industry.
Web 2 brands entering Web 3 will bring new traffic. These brands have high-quality content and high-quality communities. After crude oil community users feel the charm of Web 3 through specific brands, their assets will be transferred to more encrypted assets.
This process is the transformation from the Web 2 community to the Web 3 community. From the perspective of enterprises and brands, the essence is profit-seeking, and they will not be limited to whether they are on Web 2 or Web 3, but naturally look for high-quality investment opportunities.
This trend puts forward higher requirements for the quality of NFT projects.
On the one hand, for high-quality Web 3 native projects, the entry of Web 2 brands will not cause blood sucking. However, for native projects with poor quality and no innovation, they will inevitably be blood sucked.
Native NFT projects must seriously think about their own value and consider long-term development. A wave of projects will be more abandoned.
On the other hand, Web 2 brands entering Web 3 also need to make adjustments and adaptations. The core spirit of NFT is to create and share profits together. However, it is difficult to realize this spirit in the organizational structure of traditional brands. Therefore, for Web 2 brands, what needs to be considered is how to share profits with early users and long-term holders.
In the works of artwork NFT, we also see this kind of adjustment and adaptation. For example, Fang Lijun, his NFT series selected previous works, but considering the size of the NFT avatar display window, he made adjustments in specific material selection, background and other aspects. At the same time, the function of mintpass is also added to this series, which is an element belonging to Web 3.
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How to participate in the investment in digital art?
Recently, with the increasing attention of domestic first-class artist projects such as Fang Lijun and Cai Guoqiang, more NFT players have noticed artwork NFT. So, how to invest in digital art? The guests put forward two suggestions:
One is the understanding of artworks. It is necessary to have an understanding of artworks and art history, and have a certain aesthetic ability and vision. For example, PAK’s work in 2020 was about a few ethers, and since then it has risen to hundreds or thousands of ethers.
Second, for a series of NFT artworks, it is necessary to consider the operating platform of the artworks. The series of NFT involves many aspects such as technology, contract, operation, etc., and the comprehensive strength should be examined.
