NFTs are used more in our daily life globally. Since February 2021, NFTs have exploded, with weekly trading volumes exceeding $2 million. Over months, the total market capitalization of large NFT projects has grown by as much as 2,000%. As the market for such items is growing rapidly and can be quite a lucrative source of income, many investors seek to profit from this craze. For many, it is also an alternative investment, with many different projects to choose from. The rules of the game are very different from the traditional way. We fully understand FOMO sentiment, but until then, perhaps part of the reason for the craze was the practical cases for NFTs. For artists, NFTs bring freedom of expression. Since they don't follow the same conventions as a physical art, works created digitally by artists may be easier to achieve and, therefore, more appealing. Fungible refers to any exchangeable unit, such as currency. A $10 bill can equal two $5 bills or five $2 bills. In our daily life, irreplaceable items cannot be exchanged for things of similar value. Like everyone will agree that the Mona Lisa is priceless. The “value” of any object is not defined by the amount of resources and the labor time required to create and produce it, but varies according to its context and the rationale or perspective of its users. To simplify it, the value of any item is determined by an individual buying or selling it. NFT starts as a fringe activity but has become a mainstream blockchain application and another playground for giant whales. These NFTs can be digitally transferred through the blockchain network, and each is a unique item. Popular among artists and art collectors, gamers, and major commercial brands, NFTs can be anything from artwork, game characters or gear, music, videos, social media posts, or GIFs. The possibilities and scope are endless. It gives new meaning and purpose to those wonderful digital works of art. It opens up many new paths for artists and investors—even many of which cost as much as physical art in galleries or museums. So what exactly makes these digital items so valuable？ What is value？ There are two main definitions of what value means. First, value is a principle or standard that is important or desirable in behavior. Second, something is valued or appraised relative estimates of value or desirability. Especially in economics, the value of an object or service is often defined as the price it would bring in an open, fair, and competitive market. Market prices are generally determined based on the relationship between the supply and demand of objects in society. How to assess the value of NFTs？ The value of an NFT is based on three different variables. These are called Subjective Sentiment, Utility, and Provenance. 1. Subjective Sentiment Typically, value is defined in terms of an item's subjective or objective value. Objective value is when someone's opinions or preferences don't affect what really matters. Objectively, no matter what you say or do, value is still there, and the Mona Lisa will not drop in price because of the critique from a few of us. On the other hand, subjective values can change at the whim of an individual. Subjective means that the value of an item depends entirely on someone's beliefs, preferences, choices, or thoughts. For example, someone watching a football game might spend thousands of dollars on a front-row seat because they're a football fan and think the game is worth it. For those who are not football fans, a front-row seat of thousands of dollars is a huge waste and worthless to them. Sneaker enthusiasts may be willing to spend tens of thousands of dollars on a pair of limited-edition sneakers or even put them in a cabinet to watch rather than wear them on their feet, but it may not be understandable to most non-sneaker enthusiasts. In any market, whether online or offline, all items and commodities have a value set based on target consumers, consumption preferences and consumption goals. This value is subjective, just like some people who enter a museum will be impressed by specific artworks and rate them subjectively, while others will not. This is the same as NFT art and items. Christie's $69 million Beeple's auction is one of the most expensive NFTs in NFT history - “Everydays: The First 5000 Days NFT”. The logic behind the client knowing that the piece was worth as much as $69 million and being willing to pay was that there was a client who understood and could perceive the subjective value of the piece. Therefore, this subjectivity and subjective value are the basis for defining the actual value held by NFTs. Everyone's perception of value is different, and some works that you think are worthless may be regarded as treasures by others. 2. Provenance Another frequently asked question about NFTs is provenance. Most NFTs exist digitally and online, which in some ways is very difficult compared to things like houses. Of course, this does not refer to circulation and transaction records but to who it came from; although applications such as OpenSea already have marking function, most NFTs still come from nowhere. Provenance is important because it can ultimately prove the authenticity of a piece of art and can greatly increase its value. Historically, provenance has been seen as the best way to verify the authenticity of an item. Provenance has always been the fundamental value in the market for expensive items, art, luxury, and collectibles markets. Likewise, provenance applies to NFTs. In the NFT world, the value of a digital item, artwork, or collectible is directly related to who the creator or originator is, an individual artist, a major luxury brand, or a major sports brand - a big part of Moonbirds' success is that its founders have strong VC background. Those familiar with the NFT market can see that many artists have cooperated with big global brands to create and issue NFT artworks; some very influential stars and athletes created a new category of wealth through NFT. Based on blockchain technology, the provenance, brand and KOL of all these digital items can be accurately located and tracked; the blockchain certificate attached to digital items on blockchain technology guarantees their provenance, previous title and complete authenticity as saleable items. It can be distributed without losing ownership of the design or artwork, and its value is guaranteed. 3. Practical Application The utility value of NFTs depends entirely on the practical application of NFTs. The Gamefi platform, the metaverse, and the backing of the physical combination are one of the practical and real examples of NFTs. Across the entire NFT market, there are many practical cases for NFTs, from gaming to digital property ownership to avatar ownership, and the options are endless. Here we have explained it in detail in an article before, so I won't go into detail here. You can review “Top Ten Social Practical Cases of NFTs.” 4. Digital Scarcity We must admit that for many people who post their work on the Internet, anyone with access to a computer or mobile phone can access their work for free. But the arrival of NFT (blockchain) may change our concept and understanding of the open Internet. The idea of an open Internet has had a profound impact on us. In a sense, NFTs do bring scarcity to something that is not scarce. One might immediately retort, why would people want to make something more scarce if they want it？ Elinor Ostrom, a Nobel laureate in economics, once conducted an interesting experiment to study how people manage their assets with or without government intervention, and he came to the conclusion of the tragedy of the commons - excessive consumption hurts everyone in society. The freedom brought by the Internet and social media can deplete the inventory and value of content. Any work - which takes a lot of time and effort - once put on the Internet, the marginal cost of copying it is zero, and the price of the work is basically zero. This means that no one will pay for the job, no matter how much effort goes into it. Given this situation, more scarcity does have benefits. The duality of NFTs provides a solution to this problem. Someone is willing to pay a lot of money to establish a connection to a piece of art or music that is still publicly viewable for free (just like someone is willing to pay for an album even though the song is available for free). This duality preserves the Internet's openness while providing material rewards for the original author. In the future, this may subvert people's perception of the transparency of the traditional Internet and create more demand for digital scarcity. In Conclusion As we have seen, NFTs are truly valuable commodities. They impose scarcity on items that are not inherently scarce and thus can gain incredible value in the market. Like many items, the pricing of NFTs is highly subjective; their price depends on who buys them. The provenance of these items is easy to trace, identifying previous owners and better-adding value to these items. For all NFTs, their utility only increases their value; as artwork, finished designs, game items, proof-of-stake, and even digital identities, NFTs will be part of all crypto ecosystems in the future. Of course, there are far more practical cases for NFTs. What will their final form look like？ Perhaps only god will know the answer.
Wolf Game - Exaggerated Fomo mood is the key to the project becoming phenomenal Wolf Game once became the market's focus on November 21, reaching a trading volume of 3000w+ US dollars. The initial sale price of Wolf Game's NFT is about 0.069 ETH, with a 10% chance of getting a wolf and a 90% chance of getting a sheep. A sheep can produce 10,000 Wools (the Token of Wolf Game) a day, but the Wool produced by the sheep needs to pay 20% of the “protection fee” to the wolf, and the Wool can be sold directly or used to breed new NFTs - but Newly bore NFTs have a 10% chance of being snatched by wolves. In addition, sheep and wolves can also stake, which makes the gameplay even more exciting. The sheep can release the Stake after accumulating 20,000 WOOL tokens, and when the Stake is removed, there is a 50% probability that 100% of the Wool will be earned, but there is also a 50% probability that the wolf will take it all away. The gameplay is straightforward, but how the player chooses is a complex problem. Sell the Wool or breed a new NFT？ ——Although there is a probability of being robbed, to obtain 80% of the income steadily or to pursue higher income？ - although the risk becomes more significant. With high returns and fresh gameplay, everyone can be a gambler. Under the crazy Fomo mood, Wolf Game's popularity also peaked - the floor price of OpenSea reached nearly 5 ETH. Later, new elements, such as land and farmers, were added to expand the gameplay. The reason for the popularity of Wolf Game is simple, the “wealth effect.” The first batch of players made a lot of money when they entered the market and then spread it frantically to the surrounding users. Many players have already invested in the market before figuring out what it is - because the payback period and possible benefits are too attractive. While many users are still worried about taking over the market and waiting, the players who entered the market the day before yesterday may have already paid back their capital or even got colossal profit. Of course, the reason for the final collapse of Wolf Game is also straightforward. With the increase of newcomers, entry is challenging for newcomers, and once it cannot attract enough new users, the old users will leave and collapse. Wolf Game can be described as the climax of GameFi Fomo's popularity. It comes and goes quickly. Challenges and Problems Game Fi has indeed received more and more attention. Still, it also faces problems: lack of game innovation, poor user experience, low playability, weak storytelling, single application, and high participation threshold. Without a good solution, these problems are likely to affect the way to the mainstream market of games is unable to form a healthy ecosystem. We all know that the blockchain has an impossible triangle: perfect decentralization, extremely high processing efficiency, and excellent security, and it is impossible to achieve both. Similarly, GameFi currently has an impossible triangle - playability, difficulty, profitability, which is: 1. Games with high playability and low difficulty, poor profitability; 2. Low difficulty and highly profitable games have poor playability; 3. Games with solid profitability and high playability are not easy to get started; The blockchain has begun to try to solve the pain points by relying on technologies such as Layer2, but GameFi still lacks the optimal solution. On the other hand, GameFi projects rely more on exaggerated Fomo emotions to boost the first wave of popularity. Still, there will always be a time when the popularity will decline, and only a few can rely on the project party's operation or other reasons to survive. There are very few - only a few projects, such as Star Shark. How to design it into a sustainable game is something that many current project parties have to consider. It is also a necessary factor for the healthy development of the GameFi industry.
OMG CENTRAL is designed to help game projects, investors, and gamers get the profits they desire while balancing the interests of all parties. In order to achieve our goals, OMG Central’s team comprises highly-experienced members with expertise in researching, managing gaming guilds, advisory, and marketing for play-to-earn projects.All Channels:1. Youtube: https://www.youtube.com/c/OMGCENTRAL692. Telegram channel: https://t.me/omgcentral843. Telegram group: https://t.me/choigamekiemtienthat4. Website: https://omgcentral.net/For Game projects:• Promoting the project on our OMG Central’s youtube channels.• Posting information about the project’s upcoming events. Hosting AMA sessions on our media channels.• Building and managing gaming guilds.• Implementing an efficient seeding strategy on a global scale.• Taking the advisor’s role to help the projects shape the development direction aligned with the NFT game market trend.For Game Investors:• We constantly check and recommend potential and reputable projects.• Quickly updating information related to play-to-earn games, which is of interest to the community.• Entry positions are crucial in making any investment decisions, and we have experts that can help you identify the best ones.• Acting as an intermediary to connect game developers and game investors.• Have you missed an investment opportunity in gamefi? Don’t worry. We have plenty, the most promising ones.For Game Players:• Using videos on our youtube channels to give instructions and the newest information to game players.• Organizing Livestream sessions for the members of our gaming guilds regularly.• Acting as an intermediary to connect game players and game developers.• NFT leasing and supporting players with modest initial investment budgets.• High incentives for guild members, including NFT and items with discounted prices.• Collaborating with game projects to create quarterly, monthly, and weekly events to maintain engagement amongst players.
Hello 大家好 這裡是荻麗熱幣 我是Abby🌹I’m come from Taiwan.政大經濟系畢業的JKf女郎因為太喜歡打電動又來到Crypto幣圈💵現在有自己的YouTube頻道 喜歡gamefi！喜歡賺錢！喜歡財富自由的歡迎訂閱我希望可以帶著大家一起華麗的上月球 To the moon🌝獲得更多區塊鏈賺錢的資訊訂閱Youtube頻道：https://www.youtube.com/c/%E8%8D%BB%E9%BA%97%E7%86%B1%E5%B9%A3Abby/videos每周發放福利加入Discord：https://discord.gg/bEdUqbVNxa想了解更多的Abby或看美照IG：https://www.instagram.com/abby.didi/Twitter：https://twitter.com/home
The Rise of NFTs In 2009, after the establishment of Bitcoin, Litecoin, Ripple and other token types were launched, but people hope that blockchain technology can continue to innovate and create more powerful tokens. The first NFT-like token, Bitcoin 2.X (also known as colored coins), was born in 2012. Since then, NFTs have continued to develop, dating back to the Rare Pepe Directory project launched by Counterparty.io in 2016 and the CryptoPunks pixel portrait project launched by John Watkinson and Matt Hall in 2017. The real thriving of the NFT began at the end of 2017. The CryptoKitties launched in Ethereum in early 2018 caused people to pay attention to NFT activities. A groundbreaking game innovation is that users can create new NFTs: simply breed two kittens together. Their descendants will have different rarity, which determines the market price of new NFT cats. After this, many projects began to try the breeding mechanism of NFT, the most interesting of which is Aavegotchi, which combines the Defi service Aave mechanism and Tamagotchi toy elements. However, when the market crashed in 2018, interest in NFTs also dwindled or even stalled. At the end of 2020, there was a resurgence in NFTs. In terms of market capitalization, the NFT industry increased by 17% in 2019 and 50% by the end of 2020. In less than two years, NFTs have created more than $200 million in total value from nothing. The NFT data analysis website NonFungible.com shows that since September 2020, the number of NFT sales has increased significantly and has maintained a high level of growth. With NFT sales approaching $1 million in the first week of September 2020, with blockchain-based fantasy football card game Sorare selling over $211,000, the momentum shows no signs of slowing down. In the first week of December 2020, NFT transactions totaled nearly $2 million. According to CoinGecko data, the market capitalization of NFTs has surpassed its 2020 forecast, reaching more than $550 million.
閃妮 Do Re Mi 加密貨幣與區塊鏈
Hello~ Everybody~ 歡迎來到閃妮Do Re Mi~ 我是Shining姐姐~ 一個在幣圈載浮載沉的女子~ Shining姐姐致力於期貨市場轉戰區塊鏈 NFT GAMEFI DeFi 是未來的趨勢也是Shining姐姐期許看到的新世界 一起前往區塊鏈 加入區塊天眼
Axie Infinity (referred to as Axie) is a blockchain game launched in 2018. The game type is somewhat similar to Pokémon battle. Axie is a Vietnamese team. The original intention is to hope this game can help some backward areas with the poor economic ability to improve their quality of life. Axie first became popular in the Philippines at the end of 2020, with unemployment as high as 25%+. After a 22-year-old Axie player publicly announced that he bought two houses in the Philippines with the profits made by Axie, Axie ultimately became popular. Domestic, European, and American players also began to participate, and more and more users began to learn “Play to Earn,” and the popularity of Axie also reached a peak. Axie has two types of tokens: SLP and AXS. The economy under the blessing of dual tokens is also more stable. Its utility is as follows: If players want to acquire Axie NFTs, they need to consume AXS and SLP; so the demand for Axie NFTs ultimately drives the demand for AXS and SLPs. Conversely, by playing against players in the game, the winner can get AXS and SLP. Therefore, if players' order for Axie NFT is created, it is the key to the excellent development of the Token economy. Moreover, both AXS and SLP tokens can be traded directly through the trading platform, which is easy to cash out and has inspired many players' enthusiasm. However, if players overproduce Axie NFT regardless of cost, and there are not enough new players to offset the output of Token, it may cause the price of Token to drop. Therefore, the official has also made various attempts to increase the reproduction cost of Axie NFT to maintain the balance of supply and demand and game stability. Of course, the game also involves elements such as land, and the gameplay and details are varied. I won't explain it here, but you can check it yourself. In a word, there are three keys to the success of Axie Infinity: one is the initial selection of the right market and target users; the second is due to the P2E model and high-quality token economic model it has created; the third is the traffic of the YGG game guild pushed and some other factors. By the way, GameFi game guild refers to users (or communities) participating in GameFi for profit in a group way, managed mainly by DAO. The union is also a better “intermediary” between GameFi and players. It can mine high-quality GameFi and guide players to make profits. It greatly influences the GameFi market and is called a “pusher.”
GameFi has indeed received more and more attention. Still, it also faces problems: lack of game innovation, poor user experience, low playability, weak storytelling, single application, and high participation threshold. Without a good solution, these problems are likely to affect the way to the mainstream market of games is unable to form a healthy ecosystem. We all know that the blockchain has an impossible triangle: perfect decentralization, extremely high processing efficiency, and excellent security, and it is impossible to achieve both. Similarly, GameFi currently has an impossible triangle - playability, difficulty, profitability, which is: 1. Games with high playability and low difficulty, poor profitability; 2. Low difficulty and highly profitable games have poor playability; 3. Games with solid profitability and high playability are not easy to get started; The blockchain has begun to try to solve the pain points by relying on technologies such as Layer2, but GameFi still lacks the optimal solution. On the other hand, GameFi projects rely more on exaggerated Fomo emotions to boost the first wave of popularity. Still, there will always be a time when the popularity will decline, and only a few can rely on the project party's operation or other reasons to survive. There are very few - only a few projects, such as Star Shark. How to design it into a sustainable game is something that many current project parties have to consider. It is also a necessary factor for the healthy development of the GameFi industry.Future The development of GameFi is inseparable from NFT, but even NFT is currently in an early stage - such as the Token circle in 2013 and 2014. GameFi is more like the game field in the 1980s when the computer game industry experienced its first significant growth pain. Publishers who did business honestly appeared on the market together with profiteers who were founded today and will run away tomorrow. Certain games can be copied from existing arcade machines, and the relatively cheap distribution of PC games has encouraged the release of many inferior games. And GameFi with financial attributes is even more brutal than it was at the time.
How to quickly become an NFT veteran？ Check 33 Community Terms(Slang) Many terms, abbreviations, confusing slang, and intentional misspellings are circulating in the NFT industry, leaving many rookies confused. Some of them are essential knowledge to step into the NFT industry. Others are just “boring” slang. This article will introduce 23 important entry-level NFT terms and 9 somewhat nonsensical industry jargon. After mastering these terms, I hope you can feel the joy of genuinely becoming an NFT veteran. Entry-Level NFT Terms 1.10k projects 10k project refers to an NFT collection consisting of about 10,000 avatars. In 2017, the CryptoPunks series of collectibles pioneered this type of NFT project. To date, new collectibles are emerging from these NFT projects. It is worth mentioning that this term refers only to this type of avatar collection and does not specify the exact number of avatars, so not all such NFTs consist of 10,000 avatars. 2.Airdrop When you receive an airdrop, your wallet will automatically receive a certain amount of a particular digital asset or new NFT without paying any fees. This practice is widespread in the digital asset world and has also become a popular way for NFT projects to incentivize early holders, such as new artworks that can be used as NFT airdrops. 3.Apeing(into something) This term has nothing to do with 10k projects like Bored Ape Yacht Club that are themed around the Bored Ape. “ape into something” refers to FOMO (Fear of Missing Out), spending money that your account cannot support, and/or investing without detailed research on the project. 4.Avatar project Avatar project basically has the same meaning as 10k project, which refers to collections containing thousands of NFT “avatars,” such as CryptoPunks, Bored Ape Yacht Club, Cool Cats, Gutter Cat Gang, etc. 5.Burn Burn refers to the destruction of NFTs. For example, if only 5,000 pieces of collectibles scheduled initially to consist of 10,000 NFTs are sold, the development team may decide to “burn” the remaining 5,000 NFTs; for example, some projects allow token holders to “burn” two NFTs Mint a new, rarer coin. 6.DAO DAO refers to “Decentralized Autonomous Organization.” When you hold an NFT in a project such as Head DAO, you, along with other holders, gain voting rights and governance rights over the project's future actions and overall direction. Many NFT projects build similar structures, strengthen community incentives, and ensure long-term support. 7.Diamond hands Diamond hands are among the most popular slang terms in digital assets and the NFT industry. It has its own emoji packs and has even become the theme of the entire NFT project. People with “Diamond Hands” are not afraid of market fluctuations and insist on holding positions when negative news is rampant, market sentiment is sluggish, or when they encounter FUD(see Article 9 for specific definitions) in the digital asset field. In the English context, Diamond hands can also be used as a verb, such as “She diamond-handed bitcoin through the 2018 bear market.” (i.e., “She held on to the 2018 bear market.”) 8.Floor The Floor or Floor Price of a project refers to the lowest price for purchasing any NFT in the project on the secondary market. The floor is the most popular metric for tracking the performance of a project over a while or measuring the project's performance compared to other projects. 9.FUD FUD means “Fear, Uncertainty, and Doubt.” The term in the digital asset and NFT industry describes inaccurate or false negative news, tweets, and Discord messages. You will often see people blaming FUD for causing NFT prices to plummet. 10.Gas Gas (miner fee) refers to the expenses incurred on blockchain transactions. The gas is negligible when you buy NFTs on a blockchain like Solana. However, on Ethereum, gas fees can be as low as $50, depending on the complexity of network transactions. The lower the complexity, the lower the cost; the higher the complexity, the higher the price.
Oiiieee!! <3 Tudo joia pessoal?? Meu nome é Silvio e sou o Fundador do Canal Multiverso NFT no Youtube! Estamos trabalhando há mais de 09 meses no mercado! =DCriei esse canal com o objetivo de ajudar as pessoas a ganharem uma renda extra com os jogos play to earn e o mundo cripto! <3 Conforme fui me dedicando ao canal, aprendi muito com os meus inscritos e procurei ensinar o máximo que consegui! =)Sou muito grato por tudo que me aconteceu e afirmo que ter conhecido as pessoas que compõem o ecossistema do Multiverso NFT foi a melhor parte! xDIsso pois, formei amizades que carrego com muito carinho e conheci pessoas incríveis ao longo dessa jornada que abriram a minha mente para as novas perspectivas de vida!! =)Agora estamos começando um novo capítulo aqui com a WikiBit! Será o maior prazer cooperar com todos vocês e agradeço a todos pela atenção e disposição em ler o que escrevi! <3