How come the NFT marketplace important? Briefly describe the value of NFT in neuro-scientific crypto art and games

The NFT marketplace has begun to take shape, and investors need to have an in-depth knowledge of specific NFT marketplace segments and take part in games, digital art collections, domain names and other markets.

Recommended reading: "Determined Great Articles from Chain Current information | Understanding Encrypted Games and Art Paradise NFT"

Unique title: "NFT Market: Why is it important? 》

 Author: Glowing blue Fox Notes

The NFT marketplace is still small, and there isn't enough attention. Nevertheless, as the value of NFT is steadily discovered by individuals, it could show explosive growth within the next few years.

The NFT marketplace has begun to attract people's attention in the encryption field, mainly beginning with the CryptoKitties.

Probably the most expensive crypto kitty dragon ever sold, Source: Cryptokitties

The cat in the picture above may be the most expensive cat in NFT history. It was named DRAGON (Dragon). It was born on August 19, 2018. The transaction cost has been 600 ETH. According to the market cost at that time, it was about 170,000 US dollars, which exceeded 1 million RMB. The price is 110,000 USD).

The record-breaking former most expensive crypto kitty FounderCAT, Source: Cryptokitties

So, how exactly to understand NFT and what is its value? Why is it important?

To begin with, what is NFT? NFT may be the abbreviation of Non-Fungible Tokens, which means non-fungible tokens, which is relative to fungible tokens. Non-fungible tokens may also be called non-fungible tokens. What is a fungible token? For instance, BTC, ETH, these tokens are all homogeneous tokens, so that they are interchangeable. That is to say, among your ETH and something of mine are essentially the same and also have the same qualities ,price. Non-fungible tokens, or non-fungible tokens, are unique, just like artwork, each is different. They can not be changed with one another, so that they are called non-fungible tokens or nonhomogeneous tokens.

Generally speaking, NFT has unique, scarce and indivisible attributes. It cannot be divided into 0.01BTC such as BTC, it exists as a whole. Nevertheless, NFT itself may also be tokenized. Of course, that is another topic, therefore i won't expand it here.

Secondly, where encryption fields does NFT primarily exist? NFT applications are located in games, artworks, domain names, collectibles, virtual possessions, real possessions, and identities. Among them, games, artworks, and domain names are developing nearly all rapidly. The next briefly introduces NFTs in neuro-scientific games and art.

The field of NFT encrypted games in encrypted games has a natural relationship with NFT. One of the biggest problems in today's game industry is that products and props cannot be transferred and cannot be really privately possessed by customers. NFT is really a private property based on blockchain, which is completely controlled by customers and can end up being transferred and traded freely.

At present, in terms of encrypted games, Axie Infinity, Decentraland, Gods Unchained, Cryptovoxel and several other games are ongoing to expand the marketplace.

NFT trading marketplace begins to get shape

*Currently, there are a lot more than 20,000 Opensea users in the NFT trading market.

Opensea has a lot more than 20,000 customers, Source: DUNEANALYTICS

Opensea can be an NFT marketplace swap. It has a lot more than 20,000 users. Compared with popular DeFi projects, it really is second and then Uniswap, kyber and Compound, and higher than maker, 0x, etc. This user scale is not any longer small.

*The transaction volume on Opensea is also considerable.

On Opensea, there are 706 NFT projects, 285 projects with a transaction volume of 1 ETH or even more, 59 projects with a transaction volume of 100 ETH or even more, and 24 projects with a transaction volume of 1000 ETH or even more. The top CryptoKitties and Decentraland have transactions as high as thousands of ETH.

NFT overall transaction volume rank on Opensea, Resource: OPENSEA

As well as the information on Opensea, we are able to furthermore see from nonfungible that the total transaction volume of NFT exceeds 100 million U.S. dollars, the number of dealings exceeds 4.7 million, and there are a lot more than 16 projects with cumulative dealings exceeding 1 million U.S. dollars.

The full total transaction volume of NFT exceeds 100 million US dollars, Source: NONFUNGIBLE

The value of NFT in crypto games

How come the fastest developing NFT in games? The NFT in the overall game has a natural uniqueness and usability. For instance, Axie in Axie Infinity each has different characteristics. Axie is really a fantasy creature. Gamers may use it to fight or collect and cultivate. Various characteristics determine the different functions of Axie in the fight. Axie has 6 body parts: eyes, ears, horns, mouth, back again, and tail. The horns, mouth, back again and tail determine which cards Axie may use in fight. It has the standing of health, morale, skills, and acceleration. Each Axie also has another type. Each kind is stronger or weaker compared to the others.

Axie has different characteristics and body parts, Source: Axie Infinity

Along with fighting, as a fantasy creature, Axie may also be cultivated and will give birth to offspring. Raising offspring could also be used to fight, or continue steadily to have offspring (the maximum number is 7). In order to give birth to offspring, Axie must spend some ETH or SLP tokens. SLP tokens are interchangeable homogenous tokens. Along with purchasing on the open market, it is also obtained by participating in the overall game in the overall game environment. This gave increase to a fresh model of blockchain games: making money by doing offers, because the gained SLP could be marketed through the open market. This design also escalates the requirement for NFT (Axie). SLP exceeded 4chan's meme a few days ago, which triggered it to rise rapidly and attracted people's attention.

If Axie Infintiy could be favored by customers on a larger scale, then your scarce Axie could be more valuable. Later on, if there is an Axie that offers a lot more than US$100,000, it should not be amazing. Of course, this will also drive the requirement for SLP.

Lately sold Axie, source: Axie Inifinity

Along with Axie Infinity, there are more encrypted games on the road to be discovered.

NFT in neuro-scientific digital art Just in the Superrare digital art market, artists have earned a lot more than $1 million and released a total of more than 7,000 NFT artworks in 178 countries around the world.

Artists on Superrare earn more than $1 million, source: Superrare

How come NFT valuable in neuro-scientific digital art?

NFT in the overall game field, because of its use value and scarcity, it really is relatively easy for everybody to have the value of its NFT. Nevertheless, NFTs in the digital art marketplace are relatively hard to understand. Even so, several million US dollars of digital art have been in love with the Superrare platform alone.

So, how exactly to understand NFT in neuro-scientific digital art? Why it may be very important later on, and even hope to be side by side with NFTs in the overall game field?

From a macro perspective, the NFT marketplace for digital art may catch up with as well as exceed the original physical art marketplace later on. The most crucial decisive factor here's, what is the main element to determining the value of art? Authentic. In the art market, authenticity may be the core of value. If it is not Van Gogh's legitimate product, even though the imitation is really as high as 99.999999%, the counterfeit item is of little value. Of course, there is a more core issue here. Regarding the valuation of the value of the artwork itself, this is a even more ambitious style and will not be expanded for now.

We've seen plenty of pictures in Superrare. Some digital art photos are priced as higher as hundreds, thousands, as well as thousands of dollars. What's the value of these digital art? People buy actual artworks, such as for example paintings, which can be used for appreciation and screen. And digital art is just a graphic file. What's the value? The question is not whether it can be appreciated or displayed, because fakes have the same impact, and ordinary individuals might not be able to distinguish the difference between fakes and legitimate ones. But the genuine item has value, and the counterfeit item has no value. People can imitate Van Gogh's "Sunflower" and create works that are hardly distinguishable by the naked eyes. The fake "Sunflower" can still be used for appreciation and screen, but this "Sunflower" has no great value.

Artists in the original physical world sign the authenticity. In order to identify the real and fake, the participation of experts is necessary, which requires huge costs. On digital art carriers like NFT, there is no such problem.

Because NFT cannot be forged. The artwork in the actual world may be forged, however in the industry of NFT, it cannot be tampered with. In this way, as long as the digital function of any performer exists by means of NFT, it really is unique, and also the creator himself cannot tamper with or duplicate it. It has unique scarcity.

Of course, ultimately, NFT is just a carrier, and the core may be the discovery of the artistic value behind it, which is the ultimate factor that determines the NFT of digital art. But don't worry about this, because every period has its artistic creation carrier. Over time, as the digital native generation gets nearer to digital art, as artists create more digital art (NFT), The brand new generation will generate "Sunflowers" owned by this generation, and future art collections may change its focus to NFT.

Selling digital art on Superrare, Resource: SUPERRARE

NFT investment The investment of NFT itself is a lot more similar to the investment of collectibles. For that reason, in terms of NFT investment, it is necessary to have an in-depth knowledge of particular NFT marketplace segments in order to make a good investment, specifically for hobbyists. One is to enter early, and another is to take part in the marketplace of games, digital art collections, domain names, etc., and penetrate into market requirement. Regarding the value evaluation of NFTs, there are many factors involved. Glowing blue Fox Notice also has a related write-up "How exactly to Valuation of Virtual Possessions" before.

As well as the NFT itself, the task that bears the NFT is also an important part of the NFT investment. The task that bears the NFT has a better potential for capturing the value of the entire ecological development compared to the NFT itself. Of course, this furthermore depends upon the economic system style of its task token. Glowing blue Fox Notice will continue steadily to focus on this type of project.