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"$10 million to buy a WeChat avatar", what exactly is NFT? _ Curry

Release Time:2022-06-04 Topic:Best for stock wechat avatar pictures Reading:81 Navigation:Stock Liao information > Society > "$10 million to buy a WeChat avatar", what exactly is NFT? _ Curry phone-reading

Long before Curry's $1.15 million purchase of NFT avatars, NBA teams were entangled with cryptocurrencies.

In 2014, the Sacramento Kings became the first team to accept bitcoin payments. The Sacramento Kings allow fans to use bitcoin to buy their team peripherals, tickets and corresponding value-added services.

The price of one bitcoin was less than 3,000 yuan in those years, but now the price of one bitcoin is 300,000 yuan. The Sacramento Kings might be the richest team in the world today if they hadn't liquidated bitcoin in 2014.

Then in 2019, the NBA Mavericks also said they would accept bitcoin payments, making the Mavericks the second team to accept bitcoin payments.

But the Lone Ranger boss Cuban criticized Facebook's libra (stable currency) project in July 2019 as a huge mistake, and threatened Bitcoin on Twitter It's useless, it's a Ponzi scheme.

But in May of this year, Cuban announced his entry into the cryptocurrency field, calling Bitcoin Gold 2.0 on Twitter and admitting that he holds many cryptocurrencies.

For this situation, cryptocurrency professionals speculate that the cryptocurrency project side gave Cuban too much, so much that Cuban could not refuse the platform cryptocurrency.

Perhaps, it is the Sacramento Kings and Mavericks' partnership with cryptocurrencies that makes NBA players more aware of cryptocurrencies than the general public.

This also paved the way for Curry to buy NFTs.

On September 1st this year, Curry purchased the monkey NFT. This year, Musk and Bezos have been involved in cryptocurrencies, which may be more firm in the library. determination to enter the cryptocurrency market.

Before Curry bought the monkey NFT, the price was only 0.08 Ethereum, which was equivalent to less than 2,000 yuan, and it was written on the official website that his project was a Ponzi scheme.

After Curry purchased the monkey NFT, driven by the celebrity effect, the monkey NFT overnight The price skyrocketed, the 24-hour trading volume was 2967.43 Ethereum, equivalent to RMB 73.45 million, and the market value reached 418,500 Ethereum, equivalent to RMB 10.335 billion

The monkey NFT has been hyped in turn. Later, when Curry bought the monkey NFT, the price had reached 1.15 million yuan, and the monkey NFT increased by 575 times in just two months.

If you and I can invest 10,000 yuan when the monkey NFT is just released in June this year, the net worth will immediately become 11.5 million after three months Yuan, a proper "wealth password".

According to the statistics of professional cryptocurrency institutions, the monkey NFT is still rising at a daily rate of 8.4%, and now the lowest price has reached 41.85 ethers Square, equivalent to RMB 1.11 million, the highest price has reached 70 Ethereum, equivalent to RMB 1.7 million.

Driven by the entire cryptocurrency hotspot, NFT avatars began to swept the entertainment circle. Careful netizens found that the famous director Xu Jinglei's Instagram avatar was also replaced by the NFT bear avatar.

I found that Xu Jinglei's Opensea (NFT trading platform) account name is Stitevoli by following the NFT avatar posted by Xu Jinglei's Instagram account. The account address is

0x4b1e684d5143eb7435e5d78385fa8cbdccd8f7ec.

The Opensea (NFT trading platform) account shows that Xu Jinglei owns 795 NFT works and purchased the same bear avatar as Instagram, which belongs to the high-end players in NFT.

According to Xu Jinglei's transaction records, the price when Xu Jinglei bought the bear avatar was 1.99 Ethereum, and now the value of the bear avatar has been priced at 25 Ethereum, just one week. Xu Jinglei's NFT avatar rose 12.5 times.

In addition to the bear NFT avatar, Xu Jinglei also bought Curry at the price of 23 Ethereum The monkey NFT, now the monkey NFT is worth 41 Ethereum, equivalent to 1 million yuan.

However, people outside cryptocurrencies are conservative in playing NFTs, and most of the investment funds are less than 1 million. It is not the same when playing NFTs in the currency circle.

A few days ago, Justin Sun, the cryptocurrency traffic harvester, showed off the NFT work he bought in the circle of friends. This work cost 10.5 million US dollars, which is called the most expensive in history. WeChat avatar.

Justin Sun issued his own token TRX (TRON) in 2017, which rose from the issue price of 0.01 yuan to 1 yuan in half a year, an increase of 100 times.

According to the block rhythm information, the NFT avatar purchased by Justin Sun is the most popular among the cryptocurrency Tpunks. One of the rare avatars, the NFT avatar name is Justin sun Tpunks, and there are currently only 11 avatars in this series.

Justin Sun asked in WeChat Moments, "When everyone doesn't quite understand why a picture is so expensive, the question that should be answered is, why is a picture so expensive? How expensive is it to be photographed?"

02

How about playing NFT make money?

As Justin Sun said, to understand why NFTs are so expensive, we should first understand what NFTs are?

NFT, the full English name of Non-Fungible Token, means a non-fungible token, which is indivisible, irreplaceable and unique.

We can understand it as Chengyang Lake hairy crabs, with an annual output of 1 million, each crab will have a crab buckle to prove the identity information of Chengyang Lake hairy crabs, absolutely not duplicate .

Chengyang Lake hairy crabs can be authenticated with crab buckles, but all documents on the Internet can be copied. In many cases, you cannot prove that a PPT is created by yourself.

NFT uses the technology of marking documents with digital certificates, so that your PPT can be marked with your own label, which proves that the author is you and cannot be changed.

Because the unique characteristics of NFTs coincide with contemporary artworks, cryptocurrency players have begun to combine with art creators to create an Internet platform NFT art platform.

Among the most famous platforms are Opensea, which is frequented by high-end player Xu Jinglei, NBA Topshot, a partnership with NBA, and Cryptopunks purchased by Justin Sun.

After we figure out what NFT is, let’s talk about why NFT is so expensive?

There is a passage in Ji Xiaolan with iron teeth and bronze teeth. He Shen got two three-legged brush washes from Ru kilns in Song Dynasty. He liked it very much and couldn't put it down.

After watching with the housekeeper Liu Quan for a while, they suddenly threw one of them to the ground and smashed into a pulp.

When the three-legged brush washer of the Ru kiln in the Song Dynasty was broken into one piece, the scarcity made the value of the artwork reach its peak, and the only one that held the Song Dynasty The person who washed the three-legged brush in Ru kiln became the beneficiary.

However, NFT avatars cannot be broken or destroyed. In order to figure out how to make money with NFTs, my friend "Brother Hui" from Bit Times and I chatted.

Brother Hui told me that there are two reasons why NFTs have continued to be popular recently and have made people profitable.

First, in the novelty of cryptocurrencies, you can simply use your own thinking to make money;

Second, each trading platform has launched a variety of "gambler's mode" NFT blind boxes in blind boxes, allowing people to try out NFT boxes in the process of buying and selling. The feeling of getting rich for a "gambler".

First of all, let's take the monkey NFT purchased by Curry as an example to talk about the NFT's Zhuangzhuang routine.

Ape ETF issued a total of 10,000 picture NFTs. At that time, the issue price was 0.08 Ethereum per piece, which was equivalent to RMB 2,000 per piece, so the market value of the monkey NFT was 20 million yuan.

The market value of cryptocurrencies is 20 million yuan, and there are not many hot projects. We assume that there is an investor who is optimistic about the NFT hotspot, with a price of 2000 yuan each The price of 5,000 monkey NFTs were acquired.

Then the market value of the remaining 5,000 monkey NFTs circulating in the market is 10 million yuan, and 20% of the official and firm holders are subtracted from these 5,000 monkey NFTs , then the circulating market value of Monkey NFT is only 6 million yuan.

Now, any investor can double the hype of monkey NFT with 12 million yuan, and the follow-up disks attracted during the hype process may bring This NFT is fried to a higher price.

In the process of gradual hype, the investor can sell NFT to followers who see the wealth effect while pulling up the price. profit. (This story is purely fictional, just to clarify the thinking of Zhuangzhuang)

And the NFT blind box is similar A combination of NetEase Onmyoji and Bubble Mart.

Once we hated some games, only krypton gold can make you stronger.

But after Netease Onmyoji came out, krypton gold can't make you stronger, and luck can't make you stronger, krypton gold + luck can make you stronger stronger.

NFT blind box is a product like Netease Onmyoji, but NFT blind box does not make you stronger but can make you a lot of money.

The difference between the NFT blind box and the Bubble Mart blind box is that because the NFT blind box is not sold in kind, all online transactions are used, which is more convenient than Bubble Mart. The physical transaction has increased by a large margin.

In August this year, the Huobi NFT platform issued the Little Yellow Duck commemorative blind box, and 1996 Little Yellow Duck NFTs were sold.

The Little Yellow Duck Blind Box is divided into three types of card collections, namely the lowest-level N card, the middle-end SR card and the rarest SSR card.

Among them, the little yellow duck blind box includes 9 N-card characters, each of which accounts for 9.12%, and the total accounts for 82.08%. Three SR cards, each accounting for 5.01%, and the total accounting for 15.03%. An SSR card, accounting for2.91%.

The N card in the little yellow duck blind box has the largest proportion and has been in a state of breaking, but the prices of SR cards and SSR cards have increased significantly.

Each of the officially released blind boxes is priced at 99 yuan, the official guide price for SR cards The price is 199 yuan.

However, in the actual transaction, the N card can be sold at a discount. The general price is about 50 yuan, a drop of 50%. The price of the drawn SR card reaches 5,000 yuan, an increase of 50 times. The price of the drawn SSR cards is 9666.66 yuan, an increase of nearly 100 times.

Some friends in the currency circle even told me that the unit price of the Little Yellow Duck SSR card has reached an astonishing 30,000 yuan.

Little Yellow Duck Blind Box is like a lottery game, although the odds of winning are only 18%, but if you win, you can earn at least 45 times. Even if you lose the bet, you only lose 50%. This kind of profit and loss comparison naturally attracts a large number of people to participate in it and give it a try.

Driven by the wealth effect of Huobi Little Yellow Duck NFT, Huobi has made 3 phases of blind box NFT, and each phase of blind box is due to too many people grabbing it. , so that the server will be paralyzed.

The reason why NFT can continue to be popular is nothing more than the skillful use of Zhuangzhuang thinking in the new thing of cryptocurrency, or wearing a blind box gambler game.

In essence, NFT is not a breakthrough innovation and application of blockchain technology, but is mostly just a new game of drumming and spreading flowers.

03

NFT When can it fire?

As long as it is an asset, it cannot go up all the way to the end, there will always be ups and downs, and NFT is no exception.

"The Big Short" protagonist Jared Vennett once said in the movie that all asset declines begin with a lack of liquidity.

The NFT avatar originated from artists and is rooted in art. Now its characteristics are also similar to art. The lack of liquidity is his biggest shortcoming.

Don’t look at NFTs that can be sold at such a high price, but a novice investor rashly goes in and speculates, and there is a high probability that he will take the offer. The reason is that the price of buying NFTs is high but not necessarily high. sell away.

According to my observation, an NFT avatar on a cryptocurrency trading platform can be sold within 3 days, but not for months. , a living NFT "Panman".

For example, in the NFT video released by Chen Xiaochun, when Chen Xiaochun released the NFT, the public price of the whole network was 199 US dollars, and now the price of Chen Xiaochun's NFT video has reached 1999 US dollars.

But a user named "Wandering Soul" bought Chen Xiaochun's NFT in May this year, but it has not been sold until now.

I thought it was because the user price of "Wandering Soul" was too high, which led to Chen Xiaochun NFT failed to sell. However, in the recent official transaction records, Chen Xiaochun’s NFTs that can be traded are often sold at around the issue price of $199, or even below the issue price of $90.

The lack of liquidity of NFT commodities is not only reflected in daily sales, but more evidence is also reflected in transaction data.

On June 23 this year, the NFT concept was hotly hyped, and the total sales reached a maximum of 1,017,400 pieces, but on September 5th this year, the NFT picture market transaction volume fell to 410,600 pieces , the transaction volume fell by 60% in just three months.

Compared with the serious decline in transaction volume, the decline in NFT transaction volume is even more serious.

On August 31, the NFT concept swept the US stock market. At the peak, the NFT transaction volume reached 397 million US dollars. After only 10 days, the NFT transaction volume fell to 97.57 million US dollars. Amount fell by 75%.

Trading volume and turnover plummeted, leading to different voices in the WeChat group of an NFT exchange platform.

"NFT enthusiasts" in the NFT WeChat group told the NFT WeChat group that "the NFT avatar I bought for 13,000 can't be sold, and my savings have been lost. ".

There are still many netizens complaining that the blind box has been smashed into their hands, and some people have been selling it at a low price, and there is not much left to buy the blind box for 1,000 yuan.

The NFT concept is like a dream, in which everyone becomes rich By.

But only the person who bought it knows that the overnight riches reported in the report are book value, and many of the NFTs they hold cannot be sold at all.

When it can be sold and realized, it all seems to be luck, or maybe it all depends on those who are behind it.

04

write In the end

Since the birth of cryptocurrencies, the legend of getting rich overnight has always stimulated the nerves of the public, but how can there be so much violence in the world rich people?

Getting rich is actually a fairy tale compiled by the currency circle. This story has captured a group of speculators who have a fanatical pursuit of wealth.

Its essence is a zero-sum game. In a zero-sum game, one person makes money and the other person must lose money. Behind every story of getting rich in the currency circle is a group of people. of bankruptcy.

The myth of the concept of NFT is just like this. Outsiders watch the price of NFT rising step by step, and imagine that they can buy and sell NFT, and they can get rich overnight.

But those who really understand the tricks know that those who are really tricked in may not respond to NFT sales for a few months, and all the wealth that can be seen is book value.

Like many concepts created in the currency circle, NFT avatars are essentially a foolish game in finance.

Just under the cover of the wealth effect and the star platform, everyone believes that they are not the last idiots, they always fantasize that there will be new The "idiots" will buy the NFTs they bought at a high price.

But the fact is that the operator behind NFT will kill the killer at the stage of maximizing profits, cut the leeks mercilessly, and never care who is The final "dumb".

In "Oriental Wall Street", Ye Baoyi has a very straightforward sentence,

If you don't understand stocks, you will be killed by stocks. In this world, there is no so-called winning number, all hype and speculation are cults in suits."

This sentence also applies to the currency circle.

After all, many people in this circle are not even investing, but just playing the "game of human nature".

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