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"Look, Dopunk." Yang Ming opened WeChat and enlarged his avatar, which was an image he obtained in the NFT project ICPunks.

When ICPunks was launched in September last year, Yang Ming, who worked in an open source community, directly got the "whitelist" rights and had an airdrop opportunity for this NFT avatar, "without spending a penny".

However, such "free" opportunities are not many. In addition to pursuing the popularity of NFTs, Yang Ming will also "follow the trend and buy and buy". After some calculations, he has spent tens of thousands of dollars in NFT transactions. According to him, most of the time, as long as he thinks good-looking or good-looking NFTs, he will "chop hands".

On January 1, 2022, the fashion brand founded by star Jay Chou jointly launched a Phanta Bear NFT project with the decentralized entertainment platform Ezek. The attention of groupies and NFT collectors.

It is reported that each of the Phantom Bears in the above-mentioned projects will have "star eyes", and will have other characteristics, and will unlock different, unique access levels and privileges for their owners.

Even if he is not an NFT collector, Yang Ming, who is a "Zhou Dong fan", wanted to "chop his hands" easily when each Phanta Bear was priced at 0.26ETH (equivalent to RMB 3988), but never thought that the price would soar to 7.87ETH (equivalent to RMB 120,733), and then quickly fell back, "similar to the feeling of frying shoes."

Although he was excited, the "roller coaster" price changes of this project made Yang Ming discouraged.



Rich man game?

As a non-fungible token, NFT is a term in the currency circle. How does it collide with art?

It starts with an auction. Christie's, a British auction house founded in 1766, auctioned a pure digital artwork "Every Day: The First 500 Days" created by writer Beeple on the evening of March 11 last year, and finally sold for $69.346 million (equivalent to RMB 4.50). 100 million) transactions.

This move not only broke the world auction record, but also brought the NFT digital collection into the public eye.

A relevant person from Christie’s told reporters that digital art had sprouted as early as the middle of the last century, but there was still a pattern of being copied at that time. It was not until the integration of NFT encryption and authentication technology that the artist’s creation became “unique” and can be used by artists. Trace, identify, display and even transfer transactions.

A set of data shows that after the introduction of NFTs in the global auction market, Christie’s has received a total of nearly $150 million in revenue through the auction of NFT digital collections throughout 2021.

In the NFT-related art auction held by Christie's, star Shawn Yue participated in the auction last September, auctioning his NFT collection. It is reported that Shawn Yue is a "big player" in the entertainment industry involved in the NFT field. He has 79 NFT works in his personal collection, and his Twitter avatar cost as much as 120 ETH, or about 2.75 million yuan to buy CryptoPunks.

Long before Jay Chou brought the fire phantom bear, the Bored Ape Yacht Club (Bored Ape Yacht Club, hereinafter collectively referred to as "BAYC"), an independent digital collectible of Ethereum composed of 10,000 ape head NFTs, was also very popular. NBA star Curry spent 55ETH to buy such a BAYC monkey NFT avatar.

For an avatar, the price is so high that the NFT digital collection is called the "rich man's game" in an instant. In this regard, NFT collector Yu Meng denied it.

"It was very cheap at the earliest." Yu Meng found that based on the traffic effect, more and more fans will follow the stylistic stars and like a certain IP image, which will bring "the increase in turnover rate, more diamond hands, and finally achieve consensus." It is not difficult to see from some of the above-mentioned NFT projects that the status of the holder has become higher, which has caused the "floor price" of related NFT artworks to soar.

An avatar can be sold for millions of yuan, "like a bright-purpose digital token." Zhou Hongyi, founder of 360 Group, was interviewed by a reporter from Economic Observer earlier this year. When talking about digital art transactions based on NFT, "I'm also quite confused," he said.

In the face of new concepts, Zhou Hongyi is not without research. What he understands is that in a highly advanced digital system such as the Metaverse, new forms such as social relationships, virtual identities, and NFT digital collectibles are included. But for artworks, he thinks, "There are two reasons behind the value that cannot be ignored, one is scarcity, and the other is that it has resale value."

Focusing on the current NFT digital collections, Zhou Hongyi found that many of them are not owned by one person alone, and can even be copied multiple times, which makes him doubt the business logic of NFT digital collections.