At the beginning of 2020, NFT ( non-homogeneous token) once again became a hot word in the blockchain world, and people's calls for blockchain applications evoked the potential technical value of NFT. Since the game's mysterious cat love on Ethereum in 2017, a new form of blockchain digital assets has appeared, namely non-fungible tokens. Heterogeneous tokens are different from digital currencies. Digital currencies and ordinary currencies are general equivalents, that is, currencies, and the same amount of currency is of equal value. NFTs are unique. There are no two identical NFTs. Be personal. If digital currency is the currency in cyberspace, then NFT is the digital collection in cyberspace. The existence of digital currencies has always been controversial. From the attitudes of governments in various countries towards digital currencies, we can see that the government welcomes blockchain technology, but it is a headache for digital currencies. The development of NFT will allow the application of blockchain to usher in a new development direction and promote the application of non-currency blockchain technology, which is in line with the current general direction of the development of blockchain technology in China.
Mystery cats unlock the value of NFT
In 2017, once the Cryptokitties game was launched, swarming players quickly blocked the Ethereum network. With the advantage of blockchain technology, gamers can truly have a unique virtual pet for the first time. This was unimaginable in the past. In the past, whether it is a development game or an economic game, game developers control the game's operating services, electronic pets raised by players, virtual characters or game equipment created are stored in the cloud. If the operator If it stops working, or if your account is lost, you will not be able to retrieve your game equipment, electronic pets or virtual characters. The unique feature of Mystery Cat is that the virtual pet cat is generated based on smart contract technology and does not rely on a centralized server. As long as you have the private key, you have your own encrypted cat; and each cat has a unique gene Its next generation will also inherit some of the genes of its parents and produce new unique properties, such as hair and eye color. This unique attribute makes the mysterious cat with a special color a scarce resource and is sought after by players. Some mysterious cats have even been sold for $ 70,000. According to statistics, in 2017, Mystery Cat Games sold a total of 170,000 US dollars for Mystery Cats. People's enthusiasm for such virtual pets exceeded imagination, and then a large number of blockchain games featuring NFT continued to appear.
NFT assets are unique and immutable, and can be easily transplanted. With the development of the chain game market, NFT has formed a centralized trading market. OpenSea is currently the largest decentralized NFT trading market. You can use Ethereum to buy NFT assets of various chain games here, and you can also sell your own NFT assets here. OpenSea currently has at least 1.5 million mysterious cats and at least 360,000 Gods Unchained cards for sale. People can buy them directly or obtain NFT assets through auctions. With a mature trading market, the value of NFT will be discovered by the market.
NFT has begun to come into life
Although NFT originally came from games, it has a wide application space. In 2019, the well-known sports brand Nike (NIKE) began to lay out the blockchain. At the beginning of this year, Nike launched CryptoKicks sports shoes. Each pair of shoes has an NFT digital token based on Ethereum. Consumers can buy shoes through A ten-digit code on the shoe to unlock the NFT token and verify the authenticity of the shoe.
Not only that, Nike also suggested that the creation of tokens be linked to the sale of shoes. When a consumer purchases a pair of genuine shoes, a digital shoe and NFT token associated with the consumer will be generated, both of which represent a CryptoKick. Consumers can safely buy and sell tangible shoes, buy or sell digital shoes, store digital shoes in cryptocurrency wallets or other digital blockchain lockers, mix or "bred" digital shoes to create "shoes" with another digital shoe Offspring ", and custom-made offspring of new breeding shoes into new tangible shoes in accordance with acceptable shoe manufacturability rules.
The official European Football Championship in 2020 will issue tickets in the form of NFT, which will be the first large-scale application of blockchain electronic tickets. The advantage of the blockchain electronic ticket is that it reduces transaction friction in the market, and traces the source of anti-counterfeiting, which can be transferred through the trading platform. Blockchain electronic tickets do not need to be verified by service providers. Using atomic transaction technology to ensure that both parties to the transaction complete fund transfer and ticket delivery at the same time. Tickets will be stored directly in the crypto wallet. People can also transfer tickets through OpenSea. The ticket project is currently under development. It is expected to be completed and sold in February.
As a digital collection, NFT has attracted many Internet creators who have generated their own works and generated NFT tokens for sale on the trading platform. For example, creative workers can store their own paintings or original online artwork in the IPFS distributed storage service, and then use the ERC-721 protocol of Ethereum to generate a unique NFT token from the IPFS private key of the collection, which the user can purchase Then you can take ownership of the collection. Digital collectibles may become a huge market in the future, and NFT technology will help collectibles achieve value transfer and traceability.
NFT is a special form of non-currency blockchain. The project can create NFT only by using the smart contract function of the public chain, without issuing tokens. At present, the country has taken blockchain technology as the focus of development. Non-currency blockchain is the main attack direction. NFT is expected to occupy a place in the development wave of China's blockchain.
No matter in China or other developed countries, the government attaches great importance to blockchain technology, but there are multiple doubts about cryptocurrencies. Cryptocurrencies are difficult to regulate, anti-money laundering is difficult, and may even pose a threat to sovereign currencies. At present, domestic cryptocurrency exchanges are being cleaned up, and cryptocurrency projects have also been curbed. If the development of blockchain technology takes cryptocurrency as its core development, it will inevitably encounter multiple resistances, but the development model of the public chain determines that it cannot survive without tokens. This contradiction makes it difficult for the public chain itself to adapt to the regulatory environment. Due to the decentralized nature, it is difficult for regulators to intervene in the operation of the public chain. Although NFT is generated based on the public chain, since the project itself is built on smart contracts, the tokens of the public chain are only used for payment at the time of purchase, which makes it easier for the NFT project to adapt to supervision and expand into more fields.
The potential application scenarios of NFT are very rich, including bills, registered securities, identity information, visas, proof of title, business agreements, membership cards, lotteries, games, and so on. Wherever specific information or personalized scenarios need to be recorded, NFT has its place, ensuring that personal information cannot be tampered with or misappropriated, and that digital asset ownership is clear. One of the areas with the most "money view" is games. Games have become one of the huge industries on the Internet. The global game industry's revenue has exceeded 100 billion US dollars and continues to rise. The application of blockchain technology will change the way game assets exist. If mainstream game developers join the chain game market, the industry's pattern will be rewritten. In the future, the situation where game developers and players will jointly promote the development of games is expected to take shape. Proof of the economy.