NBA Top Shot will open the purchase channel of card packs from time to time. Each time the number of participants will reach hundreds of thousands, while the number of card packs is only tens of thousands. This makes the market resale value of every NFT sold more than the purchase price. Higher prices at times, especially the wonderful shots of some famous stars. For example, James’s dunk dunk in the game against the Kings sold for 208,000 US dollars, and the price of these NFTs was only a few hundred US dollars when the card package was opened. .
The popularity of NBA Top Shot has allowed project parties, capitalists and investors in the cryptocurrency market to smell the huge commercial potential contained in the NFT field. So, back to the sentence at the beginning of the article, "One person's trash is another person's treasure". For someone who doesn’t understand the cryptocurrency field, it’s incredible that something that doesn’t seem to be different from Gif on the surface can sell for $208,000; and the recent work by digital artist Beeple, "EVERYDAYS — The First 5000 Days" " At Christie's, it was sold at a sky-high price of US$69.35 million, which refreshed people's perception of the price of NFT. Everyone will ask, even if you have been in the field of cryptocurrency for many years, you will have questions, "Why do these NFTs have such exaggerated value?" When you evaluate the price of an NFT, you need to consider many factors, such as this one. Is the work on the chain? Does the artist have a community? Are there any unique characteristics of the work? …… However, the most simple factor of NFT pricing rules is actually the scarcity of NFTs. When you see an NFT sold at a sky-high price, its rarity may give you a better understanding of the reason behind its sky-high price. . And to blindly pursue the meaning of NFT artwork, it may seem meaningless on the surface. However, the reason why art is beautiful is precisely because it has no meaning.
EVERYDAYS — The First 5000 Days
When people spend a lot of money to buy a piece of NFT artwork, what exactly do they get in return? Unlike traditional artworks in the real world, collectors may lend them to museums for public appreciation after buying them, but they are more likely to preserve them as treasures, and most people may no longer be able to appreciate the work with their own eyes. ; But for NFT artwork, even if Metakovan spent tens of millions of dollars to buy Beeple's work, the public can still appreciate it without spending a penny. So, when people buy NFTs, what exactly are they buying? Buying an NFT work, the buyer owns the item, but there is no way to prevent others from enjoying it, just like the Metakovan example mentioned earlier. However, the happiness that buyers get from "owning" this work is the experience of ownership itself; the process of buying NFTs at an incredible price is the price discovery process of this pure ownership value, analogous to reality In the limited edition trendy play collection market that has emerged in recent years, "owning" has gradually become a major manifestation of value. It is worth noting that although digital artwork can be copied infinitely, even if the code is exactly the same, the copy will never have the same value as the original file. Well-known author William Poundstone said about NFT: "NFT is actually saying—"I own NFT! "Rather than the right to lie".
NFT's leadership of the blockchain out of the circle is indeed unexpected, but it is reasonable. It has been ten years since the concept of blockchain was put forward. During this period, various technological innovations and innovative applications have emerged one after another, and the blockchain thing that allows most outsiders to be the first to associate is still in Bitcoin. What is blockchain? The feeling for newcomers is that they are invisible and intangible, even unlike the Internet, most people don’t use it at all, let alone understand it. The emergence of NFT presents blockchain-related concepts in a form that the public can see and accept, such as NBA Top Shot and various NFT artworks. The public does not even need to understand the blockchain-related technology and knowledge, they have already let the seemingly non-existent things like the blockchain into their lives. It may be that from a global perspective for a period of time, NFT will still be a hot topic discussed by another niche group of NFT enthusiasts in the niche cryptocurrency circle, but just like Satoshi Nakamoto founded Bitcoin not for profit. It is to prove that the craze for NFT was initiated by a group of artists and enthusiasts with passion and feelings from the heart. They hope to prove that the next generation of art can be expressed through blockchain technology.