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Everything can be NFT

   In the whole concept of metaverse, NFT is definitely the most popular yet perplexing term in the past two years. Some people were shocked by the news that Beeple's famous Every Day: The First 5,000 Days fetched $69.34 million at Christie's, while others heard about it from the NFT coin released by soccer superstar Lionel Messi. And of course there are those who see it as the new "futures" and expect to get rich by trading NFT.

  So what exactly is NFT?

  The NFT is based on blockchain technology, so it is unique, indivisible, easily verifiable and traceable, and is suitable for marking the ownership of specific assets. For example, the recently popular act of speculating on land or buying a house in the meta-universe, the land and property are actually NFTs.

Misconceptions about NFT


  We must admit that NFT is not a well understood concept, and the media and the general public are naturally more attracted to the amazing trading figures, fancy artworks and celebrity memorabilia, and the reports and discussions about NFT tend to focus more on these aspects, thus making it more difficult for people to see the essence of NFT.

  Those who are addicted to the cryptocurrency market may ask, NFT is also blockchain based, so is it a new type of digital currency? No, it is not. NFT is not a digital currency, as its name suggests, it is a non-homogenized token, while digital currencies are all homogenized.

  Many people don't know that NFT is actually just a generic name for this type of token, and it also has many workshops and many platforms that make and issue different categories of NFT, each of which in turn may have many kinds of NFT, and each of which in turn may have issued more than one. It's like, there are many factories producing goods in our world, and the clothing factories among them produce down jackets, skirts, suits and many other kinds of clothing, specifically dresses made by a certain designer's studio, which may be mass-produced, or may be the only one of a kind high-fashion design. As for the price of NFT, it is also like a dress, which may be very cheap or even distributed through free channels, or may be as valuable as a top designer's high fashion design.


  Essentially, NFT is a technology that can mark the ownership of digital assets, and it can mark assets of course not only digital images. Games, music, tickets, permissions, etc., can all be tagged and stored through NFT technology.


  Another common misconception is that NFT is a digital image, so anyone can easily copy it and go the way of piracy, leaving the original with no way out. However, in fact, this view has several breakdowns: first, it is not easy to copy the original image as it is, taking the NFT of the real Tang Yin "Mountain Hermit" vertical scroll that is being listed for sale as an example, it was scanned in high definition using a 120 million pixel scanner of the original painting, forming a 240MB TIFF file with extremely high precision, which is difficult to imitate except for the owner of the original painting and the NFT maker; second Secondly, due to the characteristics of NFT, it can be traced back to the source, which is equivalent to having a security label, so even if you complete the reproduction of the image itself through various means, it is at most an "original factory original" high imitation products, can not damage the value of the original product; last but not least, NFT is not just a digital picture, its It is not only used to decorate the virtual space that we do not know when to open -

  Essentially, NFT is a technology that can mark the ownership of digital assets, and it can mark assets that are certainly not only digital images. Games, music, tickets, permissions, and so on, can all be tagged and stored through NFT technology. Now, on some interesting NFT practices that may give more glimpse of its usefulness.


Some interesting NFT experiments


  Games: Some game companies that are willing to embrace something new have already started experimenting with integrating NFT into their game systems, for example, by making NFTs of in-game props, so that players can trade these props in the secondary market and the game companies are able to regulate the transactions so that things that harm the game ecology or scams do not happen. On the other hand, if a company's two game worldviews can be linked, they can also carry out "fantasy linkage", allowing players to bring props from one game to another, which not only saves money for players, but is also one of the ways to attract traffic to the game.

  Ticketing: Ticketing for shows and sporting events is also a new area where NFT is being actively introduced. For many years, the ticket resale market has been a huge demand, but also always faced with the problem of regulatory difficulties: how tickets should be verified, whether the premium is reasonable, how should be delivered ...... these problems in the face of NFT tickets can be solved, but also make electronic tickets like physical tickets have a collector's value.

  Artificial Intelligence: The more daring will combine the two technology buzzwords, artificial intelligence and NFT, and there are already companies developing something called "iNFT", where each NFT token is infused with an AI personality, like your own digital person. Alethea AI is a company already developing in this field, and their plan is to create nurturing AI iNFTs, where players can train their iNFTs, make them smarter, and then do various decryption-type tasks to make money.

  Health care: Health NFT is even wilder, there is a Singaporean startup called Engin, they have developed a NFT called "Health Hero", claiming to bring health and happiness to one billion people. Their approach is to infuse your health data into the NFT - once you sign up for "Health Hero", you need to connect your wearable health device or exercise software to the NFT that the software automatically assigns to your health. Then, every time you exercise, every time you meditate, every healthy meal, will become data stored in your health NFT, creating your own evolvable digital hero (below). These NFTs can be bought and sold, meaning that the healthier you are, the more valuable your health NFTs will be.

  Digital Twins: A digital twin refers to a full life-cycle digital mapping of a real-life item or series of real-life items and their operational history, a process that may sound difficult to understand. An example is a pair of sneakers that has a digital twin from the moment it is produced, and when it is sold and worn in the real world, every time it steps on the ground, the data and the resulting morphological changes to the sneaker are faithfully mapped onto its digital twin, which can be stored in NFT form. By 2030, perhaps people who buy sneakers will get a corresponding NFT, which can not only prevent counterfeiting, but also determine the wear and tear of shoes, suggest maintenance methods, suggest risks, etc.


Dynamic NFT


  Dynamic NFT may completely change the existing NFT market. The so-called dynamic NFT means that the content stored in the NFT itself will change as people's transactions and other actions change, and is an NFT with an interactive nature. since the fourth quarter of 2021, two new ways of playing in this field have emerged.

  First, there is merging. Digital artist Pak created a piece called "Mass" (Mass) and then held a 48-hour limited time unlimited public sale of each NFT for $575, and they sold 266,434 of them. The most special thing about this work is that you can buy "Mass" NFTs from other people, and then several NFTs you own will be combined to become a higher-value "Mass" NFT. be split up again. It's like a puzzle or scavenger hunt, the later you get, the harder it is to merge, and the more valuable the "crowd" NFTs are. Eventually, if a super-collector manages to collect all the "multitudes", the "multitude" of NFTs in his hands will become a unique "multitude" with a full value of $150 million. ".

  Another experimenter of the game is a project called OG: Crystal s. Its main dynamic concept is that every time it comes to a new buyer through a transaction, then its form will also change: its original state is called "seed", and after a buyer holds it for 5 days, it can read your NFT by After a buyer holds it for 5 days, it can read some digital wallet information associated with your NFT and, based on this information, transform it into a crystal cluster through an algorithm. Then, whenever it changes ownership, it generates a new crystal cluster based on the new owner's information. In a way, its growth form is a collection of owners it has had, so you can imagine that people will find ways to trade or exchange it for growth purposes in order to be able to cultivate a more magnificent and meaningful crystal.

  So, NFT is a highly flexible form of digital asset storage, and people can create the properties of NFT through different smart contracts. If there is a completely digital future world, our cell phones, clothes, houses and even pets may be NFTs, and the seemingly puzzling term NFT is the most important concept in the metaverse besides "incarnation".


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