Will NFT be the next spot after DeFi? Understand the existing status and development prospects of NFT applications

Although NFT is rolling out rapidly in the past 2 years, it really is definately not exerting its owing strength, which is limited by the development constraints of the blockchain itself.

Extended reading: "Decided on Good Articles from Chain News | Understanding Encrypted Games and Art Paradise NFT"

Original title: "Even now complaining in relation to being unable to keep up with DeFi? Somebody has began to explore another spot. "

 Written by: Five Fireball Leaders

By the end of continue month's article "Four major outlets which should not be missed in the second half of the year: ETH2.0, Polkadot, Storage, DeFi", it had been briefly mentioned that NFT has begun to attract increasingly more attention , A lot like "I'm about to pierce the home window paper."

Therefore today we shall sort out the recent development of NFT in detail, and see in which areas NFT has recently begun to are likely involved, and what scenarios will be used in the near future to provide play to lighting and high temperature. This article will mainly focus on the NFT ecology on Ethereum. The NFT ecology on other public chains currently includes a magnitude gap with Ethereum with regards to popularity and scale, so we shall put it aside for now.

What's NFT and which are the agreements of NFT? NFT believes that visitors who've been in the circle for a long time aren't unfamiliar, but in case there are new readers that are not familiar with this concept, let's simply discuss it.

NFT-Non-FungibleToken, non-fungible token, this thing is exclusive and indivisible.

The simplest homogenized tokens are BTC or ETH. The ether in your hands is essentially exactly like the ether in my own hand, similar to the 100 yuan in your wallet and the 100 yuan in my own wallet (two pieces of cash are ignored here) The encoding is different). But NFT is a token with its own special and special identification, each of which is special and indivisible. Just like you burst out a bit of tools in a game, this tools will your ID at the moment it landed, with your personal information and characteristics onto it, so in essence, this device is actually a unique little bit of the whole server Equipped, it means something similar to NFT.

NFT was initially popularized by Ethereum cats inside 17 years. In those days, each cat corresponds to an NFT token on the chain, offers its own special ID and gene, combined with a unique image and temperament, etc. The most expensive cat was marketed at that time The sky-high price of thousands. So people recognized that NFT should do a great deal with regards to "uniqueness" and "scarcity."

NFT currently offers two hottest protocols, 1 ERC721 and something ERC1155.

ERC721 is derived from the encryption package and is particularly the most familiar NFT standard. Metadata such as for example ID and NAME are defined in it. The protocol interface is quite similar to ERC20 in fact it is really convenient to use.

ERC1155 can be an improved version of 721 proposed by Enjin. The fatal disadvantage of 721 is a agreement can only just issue one type of NFT asset, rendering it difficult for games with rich forms of props to utilize 721, and 1155 could be issued in a single contract. Any type of NFT property, and many adjustments have already been made to the metadata settings. 1155 was furthermore recognized by the Ethereum group as the Ethereum token standard in June last year.

The application development of NFT in the past 2 yrs has changed from Cryptokitties to Gods Onchain Cryptokitties. As the pioneer of ERC721 and "the initial NFT application in history", its status naturally goes without saying.

However, as a game, it really does not have any playability, at most satisfying the curiosity of some collectors.

And the application or game that promotes ERC721, Gods OnChain (a hearthstone-like on-chain card game) is undoubtedly among the best, with more than 10,000 gamers, the legendary card in it has sold a huge selection of ETH The sky-high price of, and the accumulated transaction quantity is nearly 10 million Us all dollars.

If the encryption cat is the level of collecting cigarette cases, then Gods Onchain is a bit similar to the upgrade to the "Water Margin Hero Card" of our little raccoon.

The most criticized thing about Nike and the European Cup ticket currency circle is that, including speculation, virtually all blockchain applications are "in the circle", it really is difficult to reach from the circle, but NFT did it.

Nike registered a patent last year to utilize blockchain to verify the authenticity of sneakers. Whenever a user buys a pair of Nike sneakers, they will have the only electronic asset (ERC-721 token) that matches the shoes, that is, they will get both sneakers and Tokens, and the system generates a "CryptoKick ID", which information the material, collection, specific model along with other information of the sneaker, and will be stored in a cryptocurrency wallet kind APP known as "Digital Locker" .

At the start of this year, more than 20,000 tickets for the 2020 European Cup (because the epidemic was postponed to 2021) were sold by means of NFT. Lots of people stated with fulfillment that after the Internet brought e-tickets, blockchain delivered NFT tickets to the ticketing marketplace. Do you think there are now 1 billion people on the planet using electronic tickets. If 5% of these are changed into blockchain NFT tickets in the next few years, does the amount of users already exceed the amount of gamers in the industry?

The club collection, the recent NFT event for the third anniversary of Binance, is just about the star NFT collection (Erc721) released by Juventus (football club) on the platform Sorare, and the third anniversary of Binance.

On the third anniversary of Binance a few days ago, Binance furthermore released a limited-edition third-anniversary NFT card (ERC1155). Users still should do some tasks to complete.

For what this card can do, it is said that you could take part in Binance's online virtual conference, but it is not verified. Visitors who know it please tell me.

Encrypted artwork is currently the biggest NFT market. Several senior gamers in the field said that will be a trillion-level marketplace soon.

At present, the most expensive couple of encrypted artworks I know of has available more than 100 ETH, which is about 160,000 yuan. The performers on the encrypted artworks SuperRare have finally earned more than 1 million US bucks in total.

Furthermore, Rocker NFT, a borrowing system for NFTs, has emerged, that may obtain stablecoins by collateralizing NFT assets.

There are several interesting areas of NFT encrypted artwork:

1. Some works aren't developed manually, but created by AI programs. Additionally, there are artists who specialize in this method and so are well-recognized in the circle.

For instance, the picture below is a landscape map created by AI

2. NFT encrypted artwork is now able to be divided into layers, and various layers created by different authors could work together to form a work. The copyright of each layer is definitely independent, and the overlay approach to the layers could be programmed and customized, like the following This one is a combination of many layers.

Concerning the artistic benefit of encrypted artworks, it is a topic where the benevolent views benevolence, and the particular wise views wisdom. But there is absolutely no doubt about the value of encrypted artwork itself, that is-the unparalleled fluidity of traditional artwork. A pal of the writer who is proficient in art background and DeFi stated that "the liquidity superior delivered by NFT Artwork is the primary of helping its value being an "asset".

Two Ace Projects With regards to NFT's blockchain projects, the two leading players must be mentioned.

Mana (Decentraland) Mana believes that aged players are zero strangers. The visitors who were the first ever to speculate on the land in Mana possess basically earned many times.

Mana gives people the impression of a "virtual existence" on the chain, also it gives people the imagination of a virtual world just like the movie "NUMBER 1 Player".

Recently, the starting of Dragon Town within Mana is a grand event. It is full of NFT items.

Regarding Mana, a foreigner described it such as this: "After 10 years, the 2D Internet won't exist. Our internet browser should be the VR virtual planet. The text, images, commercials, social networking, etc. should all become presented in 3D. We, and Mana certainly made a good start."

In addition, the official announcement was made on July 21. Decentraland has reached a cooperation with the Samsung blockchain group, and the two celebrations will cooperate in neuro-scientific NFT.

Enjin Enjin was initially to create an on-chain game development system, hoping to greatly help traditional game programmers to directly cast assets on Ethereum in a lighter way and interact with games. That is still Enjin's current primary business direction- -A multiverse multiverse with multiple games and interoperable property, and a wealthy product matrix. There's an Enjin wallet for looking at game items anytime and anyplace, and an EnjinX blockchain internet browser for easy access to transaction data, and the Enjin SDK for programmers to place game items on the chain , And a decentralized game asset trading system that helps prevent middlemen from making price differences.

However, as ERC1155 will be officially included in the token standard by Ethereum, we can clearly feel that the team's ambitions do not end there. As well as the game props on the Enjin system, the Binance 3rd Anniversary NFT mentioned above was issued through Enj. It feels that it is becoming a built-in system that integrates agreements, transactions, and issuance. It is estimated that it's the genuine ambition of the group to be the Chainlink of the blockchain NFT planet. All this is approximated to depend on the acceptance and popularity of ERC1155.

The future direction ought to be said that although NFT is rolling out well recently, it really is still definately not exerting its due strength, which is limited by the development restrictions of the blockchain itself.

Combination with traditional games Whether it is Mana or the many games inside the Enjin game multiverse, their own playability, in the existing stage, is still incomparable with traditional Internet games, and is not in the same purchase of magnitude.

If the blockchain may be used as the currency and the bottom coating of props for traditional games, what will happen?

Imagine that you drop coins in World of Warcraft or Diablo. It is a blockchain token with a constant total amount, similar to Bitcoin. The obtained tools has NFT features and can be directly traded into BTC, ETH or USDT on the auction house. What kind of situation would that become?

That is a thrilling thing to think about. However, there are not merely technology, but additionally various constraints such as for example benefits. While preserving the playability of traditional games, the intro of blockchain and NFT should not be It just happened overnight.

NFT Tokenization of Possessions With regards to Tokenization of property, the first thing you imagine of could be STO, which means property are on-chain.

Should you have a house that you want to chain, you'll use NFT to identify you as the owner of the house.

The NFT issuance of Euro Mug tickets is actually the consequence of asset tokenization, but the assets listed below are tickets.

And when the blockchain develops to a certain phase of maturity, what really makes the NFT shine is not the property on the chain, but the property off the chain. The writer is chatting with a few friends, and everyone offers enjoyed this type of scene:

* Use BTC or USDT to get a house NFT;

* Design and decorate with Mana;

* Legally own property rights through STO. The primary dependence on this scenario is definitely that the sign up and selling of the house is issued on the chain through the NFT Token right from the start, and through the STO gateway, your NFT Token will be projected, transformed, and confirmed.

Rather than what everyone understands now, there is a set of property offline, which is tokenized and chained.

I really believe that in this period of blockchain, NFT will be everywhere, and with VR technology, possibly the world in "Top Gamer" is really not a long way away from us.