fsdjfls - Tumblr blog

[fsdjfls]

NFT gloomy tide What is the location of the next wealth code? MadCanner gloomy

If you want to perform NFT and explore additional NFT possibilities, you must first tell a compelling story.https://discord.com/invite/Wduk7zNjPM

Since the explosion of Axie Infinity last year, the chain tour ecology has flourished, resulting in the emergence of a series of new projects such as GameFi. However, as a result of the general market recession, the chain tour track has weakened, not only due to the washout of its own market downturn, but also due to the unique nature of the chain tour project’s gameplay. MadCanner glo

omy

According to some, in order to perform NFT and explore additional NFT possibilities, you must first tell a good story. If an NFT is not backed up by the art of storytelling, its value will suffer in the long run. Additionally, a project should have a complete “story”; you must explain what you want to accomplish, why you want to accomplish it, and what the project’s core is. Tim, a pseudonymous blockchain researcher, once stated that community is consensus, consensus is persuasion, persuasion is being impressed, and the story is the key to being impressed.

Nowadays, the majority of people in the industry are looking at the short chain tour, believing that its playability is incomparable to the richness of traditional single-player games, and are instead focusing on the development of bullish social NFT, believing that social NFT is the core development direction of the future meta-universe, and the most critical thing to focus on in the Web3 era.

Recently, news that the virtual reality metaverse game UltiverseDAO had received investment from well-known institutions such as Coinan and Three Arrows refocused market attention on chain tour ecology. Of course, apart from the institutional endorsement provided by Three Arrows and additional investment from Coinan, this alone is insufficient to garner public attention. The most unique aspect of UltiverseDAO is the craftsmanship demonstrated by its team during the project’s construction.

In retrospect, the majority of chain games on the market today follow nearly identical models, for example, using NFT as the medium to represent the props used by the hero, and then allowing players to participate in various battle modes by selecting their favorite game character representatives from the station, with the winning side receiving prop pieces NFT rewards, and so on. Then there’s the familiar “manor raising” mode, in which players can purchase a floor in the project’s exclusive ecology and then begin building and raising, earning revenue in the process.

However, these projects have a flaw: the story behind the game’s lack of diversity is also significantly less than that of some of the traditional industry’s large online games. This makes it more difficult for these projects to sustain a user base over time. And Axie Infinity’s current state demonstrates this. MadCanner gloomy

UltiverseDAO Capture of Potential

UltiverseDAO’s initial objective is to create a Web3 social game meta-universe that truly immerses players. MetaFi is the first of its kind in that it rewards players for building and contributing to communities. Humans are divided into three factions in the Ultiverse world, but rather than the usual tedious game of dividing the world into three and then developing trade autonomously, it is a story set 80 years in the future.

Additionally, in the Ultiverse’s ecological design, players can import their wallet’s NFT for use in the Ultiverse universe, along with the original empowering attributes of that NFT. For example, the NFT of art can be used as an art gallery, and the NFT of music can be used as the atmosphere song at a party. Second, the Ultiverse ecology includes a set of underlying technically powerful public facilities through which players can interact with various NFTs, DeFi, and DEX.

Additionally, Ultiverse supports NFT and land customization, and the appearance of NPCs is adjusted based on the player’s action AI track, resulting in an immersive gaming experience. Ultiverse’s community governance model is based on the DAO model, which allows the community to determine the ecosystem’s future direction, and players will be able to form their own guilds and share resources with guilds from diverse backgrounds.

Possibility of capturing shrapnel MadCanner gloomy

Shrpapnel is the first AAA first-person shooter on the market today, powered by blockchain technology and featuring skill-based competition, creative modding tools, and true digital ownership. Shrapnel recently raised $7 million in funding via Token sales, with Dragonfly and Three Arrows Capital among the investors, as well as angel investors including Keith Nunziata (Citadel Global Equities) and Jason Zhao (Kleiner Perkins).

Mark Long, the CEO of Shrapnel, is said to have worked on games for Disney, Ubisoft, and others. The project is still in its infancy, and the majority of information about it has not been revealed. However, given its production team and investment history, it has a chance to be mapped out early on.

Civitas Capture Potential

Civitas is a community-based city-building game in which each citizen can customize their territory with unique structures and items acquired or crafted. Each structure that a player places on his or her land has an effect on its stats and ability to generate passive resources. Players must collaborate within their city’s subDAO (subDAO) in order to construct more advanced structures, amass power, and advance to new eras. Towers (Towers) provide players with information about the city’s performance, available missions, global diplomatic status, profitability, sub-DAO operations, and other critical city-related information.

Players can access Civitas via cell phone or computer in the Civitas setting. Through mobile access to the augmented reality universe, players can discover CITI tokens, play mini-games, and locate the unique resources required for crafting. Additionally, players will be able to use map views to locate these assets and engage in activities scattered throughout the real world thanks to our real-world geolocation technology. Rather than that, when players play on a computer, they interact with their land; they locate, collect, and craft items; and they participate in city forums. Additionally, they will have access to all city tower features, city markets, and world map views, providing a rich experience.

Directive Games created Civitas. The studio was founded in 2014 with the goal of creating large persistent universes for online multiplayer games that are supported by a large and active community through the use of its proprietary backend technology. Directive has spent the last two years integrating blockchain technology into its existing technology stack, believing that this is the missing component of its long-term vision of games evolving into virtual environments that encompass a significant portion of our digital lives. MadCanner gloomy

It’s worth noting that Civitas is currently being developed by the same person as Shpapnel’s Chinese DC MOD, and both projects are in their infancy, so players interested in an early entry should conduct additional research and exploration of their subsequent development roadmaps.https://discord.com/invite/Wduk7zNjPM

[fsdjfls]

Discussing the value of NFT projects, their failures, and harvesting arguments，It’s madcanner.com

Even if you are an outsider, you have probably heard of NFT. Each month, cryptocurrency and NFT will appear numerous runaway cases or scam news, which may be common for insiders, but over time, it will cause blockchain to become a thorn in the eyes of many people, and the circle’s impression will create a psychology of fear of being cheated and fear of being harvested, but at the same time. simplest form of MadCannerhttps://discord.gg/Wduk7zNjPM

Why is it that, despite the high volume of theft news each month, members of the circle continue to choose to remain members and more people attempt to join? How exactly do you avoid being scammed or cut while not missing out on potentially valuable power groups and NFTs?

Today, we will not examine NFT from a short-term price, value, or empowerment perspective, but rather from a more pragmatic perspective in order to delve into the event’s long-term value.

The function of NFT

In academic parlance, NFT (Non-fungible token) is referred to as a non-homogenized token, and its function in Web 3.0 could almost be compared to that of an admission ticket, but in reality, NFT accomplishes much more. simplest form of MadCanner

The simplest form of value is a piece of paper money in your wallet.

The simplest way to understand NFT is to imagine it as a bill in your wallet, and your wallet as a small fox; a wallet can contain multiple “bills” NFT at the same time.

NFT is fundamentally similar to BTC, ETH, and even stocks. If you purchase a highly valuable NFT, it may become a three million dollar bill in your wallet, but due to market fluctuations, it may become worthless…… see here, you may believe this high-risk speculation is not for you, but isn’t everyone’s life, including the legal tender (“fiat currency”) they hold, at least twice as risky?

For instance, a pie cost $2 ten years ago, but now costs at least $5. In other words, prices have increased by 150 percent, but have wages increased by 150 percent in lockstep with prices? This will result in a continuous devaluation of the currency in our possession; the rate of devaluation is extremely slow, making it difficult for the average person to notice. simplest form of MadCanner

And from this war between Russia and Ukraine, we can deduce that the possibility of our fiat currency devaluing in a matter of days exists, because due to the centralized power relationship, a single government policy can instantly devalue the currency, not to mention the financial crisis caused by bank closures.

Pros: There is always a risk of being surprised, and prudent investments may be able to keep pace with inflation.

Cons: High risk; must be carefully chosen. Below, we’ll discuss how to choose.

Crowdfunding simplified, a “crowdfunding” concept

Some people view NFT as a form of “crowdfunding,” in which the promoter proposes a project, a proposal, and you believe the proposal is interesting, meaningful, or profitable, and thus take advantage of the opportunity to purchase those who have not yet begun “commitment” to assist the project in developing smoothly.

Many people view the purchase of NFTs as a permanent record of the transaction — and this is correct. With crypto technology, it is simple and quick to verify the purchaser’s authenticity, allowing rewards to be delivered directly to the purchaser’s wallet via “airdrops” following the completion of the program, or by communicating directly with the purchaser via Blockscan Chat, an Ether-based live chat tool.

However, one should be cautious of projects that disappear after raising capital, as such fraudulent practices are prevalent in the blockchain industry. Even the promoters vanish completely into thin air. Therefore, before participating in any crowdfunding project, you should gain a better understanding of the project and attempt to gather as much information as possible.

Pros: It’s easier and faster to receive rewards for crowdfunding participation and to maintain a permanent record of purchase. simplest form of MadCanner

Disadvantages: The promoter may unilaterally breach the promise and turn the crowdfunding campaign into a scam.

PFP’s identity value

Identity is the empowerment that universal NFTs, particularly PFPs, will have, and by adopting this NFT as your avatar, you can identify with and be proud to be a part of them. Although Tesla CEO Elon Musk has stated unequivocally that he dislikes Twitter’s NFT certified avatar feature, there are still a large number of people who would welcome its use.

For instance, if you’re chatting with someone online and notice they’re using a genuine NFT Bored Ape avatar rather than a JPG stolen via right click, you can assume they’re a wealthy individual or a member of some project, unless their account has been stolen.

Pros: It provides a means of identification, identity, and even confidence.

Cons: If your PFP is valuable, hackers may view it as an easy target.

Take advantage of exclusive membership benefits.

If you purchase an NFT from a reputable community or NFT project, the NFT you own will essentially have this feature, which allows you to join and profit from a secret community. This benefit can take on a variety of forms, including actual money, knowledge, and social circle expansion.

As if you paid to join a chamber of commerce in order to network with other businesses and explore new opportunities.

Along with secret communities, the more alluring features are undoubtedly the sweepstakes opportunities available only to holders, or outright access to white slips or airdrops.

For instance, following Azuki’s announcement of the “BEANZ Official” airdrop to holders, Azuki set a new record high at the time, with the ground version’s price directly reaching 34.45ETH. Time Magazine has accepted it as payment for subscriptions, so I believe it will become increasingly useful in the future. simplest form of MadCanner

Pros: You can create a community that you enjoy and profit from it.

Cons: The same tool can be used in a variety of ways by different people, resulting in a range of outcomes, and the benefits may not be as substantial as anticipated.

The artwork, the collection, is supreme.

If you like it, you may purchase and view it regardless of its value; on the other hand, if you dislike it but still purchase it, you may not collect it regardless of its value. This is the most emotional struggle; if you are more concerned with profit, you will probably never understand why those famous paintings are always sold for such a high price.

However, in Europe and America, this type of pure collection utilizing NFT is the norm.

Advantages: Those who are appreciative will be appreciative. Perhaps one day, your values will serve as a barometer for sky-high prices.

Disadvantages: those who are unable to appreciate will remain unable to appreciate. Perhaps one day, that work of art will become worthless.

Revenue from secondary sales and royalties

Today’s NFT market enables the original author to sell the work, and when the buyer profits from the secondary market, the buyer can profit by collecting royalties from the creator, with the percentage of profit defined by the creator. For instance, the Elysium System, which has garnered considerable attention recently, is capable of collecting 7.5 percent of royalties from each secondary transaction, ensuring a continuous inflow of funds.

Pros: Increased circulation equates to increased profits.

Disadvantage: low circulation; NFT is easily converted to JPG.

Significant revenue share

Nowadays, numerous NFT projects benefit from “revenue sharing” in order to attract additional buyers and holders.

For instance, if a buyer owns only one NFT, he may only gain access to secret groups and voting rights; however, if he owns more than one, he may begin to acquire the relevant share or even increase the share ratio.

Pros: If the project succeeds, it will generate long-term passive income for you.

Cons: If the project fails, you’ll end up with more JPGs in your wallet.

How do you envision the break?

A buyer seeking a quick profit from NFT, as well as the general public who may know little about a project but have invested in it, will generally be fearful of a project’s “breakout.” Why is “breakout” so frightening? Consider purchasing an item for $100 and then selling it for $80 or even $50 when you no longer want it. In a nutshell, it’s a “money loss.” simplest form of MadCanner

When viewed from a “non-investment” perspective, it is quite common for the second-hand price to be lower than the issue price; for example, it is nearly impossible to resell your worn clothing at the original price in the second-hand market. However, the two are not even comparable from an investment standpoint. Because there is a distinction between new and used goods in the “object” category, but no such distinction exists for intangible items such as stocks, cryptocurrencies, or even non-fungible tokens, and even though they are directly related to money, they should have an established appearance, i.e. their intangibility confers a certain value on them.

These investment items are primarily affected by heat, public recognition, and other factors; if no one agrees, for example, military tickets issued during the war will become a scrap of paper after the war; on the other hand, while some dilapidated antiques are considered junk by the general public, they are considered a treasure, antiques, by those who understand their value.

Thus, what individuals should focus on when purchasing NFT is not the so-called floor price, circulation, or average price — while these are important, they are not the most important from a non-investment and short-term speculation perspective.

If you are a novice who wishes to learn about the positive aspects of the NFT world but lacks exceptional short term speculative luck and vision, we recommend that you seek out those NFTs with high potential value in order to avoid becoming a harvest target. simplest form of MadCanner

To summarize, blockchain is a world of possibilities, but the adage “where there is danger, there is opportunity” also applies perfectly here. Which project is the most valuable in terms of investment? Which project has the most promise? Which project was abandoned? Which one is a colossal flop? It’s difficult to provide a definitive response.

Even abandoned projects may be given new life or a new development model as a result of the gathered masses; whereas, projects in the hands of the project owner may cause a disaster or a crash as a result of arrogance.

There is no such thing as a “impossible” here, which is also a characteristic of Web 3.0.https://discord.gg/Wduk7zNjPM

[fsdjfls]

The Copyright Loophole in NFT: Legal Considerations Must Be Included in Product Design MadCanner Copyright

Numerous NFTs and DAOs seek to innovate or simplify the process of owning and selling creative works. “EVERYDAYS: The First 5000 Days,” Beeple’s NFT, sold for $69 million at auction. According to some observers, Bored Ape Yacht Club’s meteoric rise is due to its unique approach to copyright licensing. More artists and developers are entering the industry headfirst.https://discord.com/invite/Wduk7zNjPM

Simultaneously, many projects are unsure how copyright applies to NFT.

Assets on-chain vs. off-chain MadCanner Copyright

When discussing blockchain assets, it is common to use phrases such as “Alice owns ten bitcoins.” Generally, this expression is correct: Alice is the owner of the private key to a blockchain address associated with the transfer of ten bitcoins in unused transaction output. Alice is free to use that private key to transfer those bitcoins to another address. (Alice may also have direct or indirect control over the key via her wallet; we will ignore one case of complexity below.) According to the current draft UCC provisions on blockchain assets, Alice possesses “the ability to reap the majority of the benefits associated with those bitcoins.” For more complex assets, such as NFTs governed by smart contracts, this control may take the form of possessing the private key required to initiate a transaction, effectively transferring control to another party.

This scenario is straightforward due to the fact that Bitcoin and smart contract tokens are both on-chain assets. They exist entirely as blockchain entries. Things become more complicated with off-chain assets, in which the blockchain entry represents something that exists in another location, such as a tungsten cube. The cube is a real-world physical object. It weighs 2,000 pounds and has 14.545-inch sides. It is stored in Midwest Tungsten Services’ warehouse in Brooke, Illinois. However, the Tungsten Cube NFT is a component of an ERC-1155-compliant smart contract deployed on the Ethereum blockchain. Alice would still have the physical Tungsten Cube in Willowbrook, Illinois if she purchased Tungsten Cube NFT from TungstenDAO.

Although the Tungsten Cube NFT is not identical to the Tungsten Cube in its physical form, the two are connected. According to the “description” provided by TungstenDAO when creating the NFT list, Alice also receives “one access per calendar year to view/photograph/touch the cube” when she receives an NFT. Alice has the right to take physical possession of the cube via freight truck if she sends the NFT to a special address to prevent anyone from regaining control of it (a process called destruction). If she sells the NFT to Bob, Bob will have the option of gaining access to the cube once a year or burning the NFT and receiving the cube. Tethering, also known as network sharing, is a legal term that refers to the process by which the right to an off-chain asset (the physical cube) is linked to an on-chain asset (the NFT) via an invisible Tether. (At least theoretically. (Some legal scholars express reservations about the efficacy of “tethering”).

Thus, NFT involves three distinct assets. MadCanner Copyright

To begin, there is an NFT on the blockchain. This is how it appears.

On the Etherscan blockchain, you can track the creation of this NFT.

Second, there is the repository’s physical cube. This is how it appears.

Thirdly, there is the legal right to physical control of the cube. This is how it appears.

Due to the intangibility of legal rights, there is no physical presence.

If everything goes according to plan, the legal rights serve as the link between the on-chain NFT and the off-chain cube. The current owners of the NFT have control over the physical cube due to their legal rights.

A Brief Introduction to Copyright

The following quote is occasionally attributed to Albert Einstein (humorously but incorrectly).

What you need to understand is that the cable telegraph is actually a very long, very long cat. In New York, you pull his tail; in Los Angeles, his head meows. The radio operates in the identical manner; you send the signal here, and they receive it there. There is only one difference: there are fewer cats. MadCanner Copyright

Copyright is identical to a tungsten cube, except that it is not a cube. A tungsten cube is a particular type of physical object. It exists in a single location in the physical world. Any other type of tungsten cube is a distinct type of cube. However, an intangible work of art, such as a photograph or a story, is a creative work. It may exist in a single object (referred to as a “copy”), such as a painting on canvas. Alternatively, a work may exist in multiple copies simultaneously, as when a publisher prints thousands of books or a photograph is displayed on millions of computer screens. Alternatively, a work may exist entirely without copies, as when one person tells another a story. The point is that a creative work should not be identical to any imitation.

Thus, copyrighting a creative work is distinct from physical object ownership (such as a tungsten cube). The cube’s owner has the right to move, sculpt, or melt it; anyone who does so violates the owner’s property rights. However, the copyright holder is not always the owner of a particular copy. If Alice purchases a copy of Bob’s novel, Alice owns the paper with the ink on it, but Bob retains ownership of the text.

Bob’s copyright is restricted to a small number of exclusive rights. Most importantly, Bob has the ability to prevent anyone, including Alice, from reprinting his novel. (This is why the term “copying” “rights” is used.) Alice requires Bob’s permission to adapt his novel into a film, which is considered a derivative work under copyright laws. She has two options for obtaining permission. She can either purchase the rights directly from Bob, which is a transfer of ownership, or Bob can retain the rights and grant Alice a license to make the film. The distinction is that if Alice acquires ownership through a transfer, she now has the option of licensing additional uses, such as graphic novels and character reworking. And if Bob simply grants Alice a license, he retains the right to determine how the copyright is to be used (or not used).

Alternative: Licensing of Copyright

There is another way to create an NFT copyright that does not require signatures. Rather than assigning ownership to each NFT owner, the creator of the NFT can use a copyright license. The creator retains ownership of the copyright and directly licenses subsequent NFT owners.

At first glance, this appears to be more complicated, as the creator must now deal directly with each NFT owner, rather than just the initial owner. However, it has the significant advantage of avoiding the need for copyright licenses to be signed, as is the case with copyright transfers. (In fact, they do not have to be in writing, although it is far safer to do so for any financially significant transaction.) Carol and Woodchuck Labs are not reliant on Alice and Bob to perform the signature transfer properly. Rather than that, Woodchuck Labs can simply write its terms in such a way that they automatically grant a license to each NFT owner upon acquisition.

This approach has a strong precedent in the world of free and open source software licensing. For instance, the GNU General Public License states that whenever you transfer a covered work, the recipient receives an automatic license from the original licensor to run, modify, and distribute the work subject to this license. You are not responsible for enforcing compliance with this license by third parties. MadCanner Copyright

Additionally, the Creative Commons Attribution License states that each recipient of licensed material receives an automatic offer from the licensor to exercise the licensed rights under the terms and conditions of this Public License.

The RTFKT license is a clear example of this approach in the NFT field, as it states that 1…… Any digital work or other content made available to the owner of a digital collection via the Platform as a “additional benefit” (as that term is defined in the Digital Collection Terms) will be identified as such on the Platform or during the download process. To the extent that you own the applicable Digital Collection, you will be licensed to use any such content pursuant to the license terms presented at the time of download or, if no such terms are presented, pursuant to the terms of the applicable Digital Collection…

The details are complicated, and this is not a comprehensive legal analysis. Our opinion is that NFT creators should carefully consider how to structure their terms to ensure that the NFT owner receives the necessary copyright clearance for the NFT-related artwork, and that copyright clearance is far more likely to succeed than a direct transfer of ownership.

Subsidiary Rights

Another issue is derivative works, which include “translations, musical arrangements, dramatizations, fictionalizations, film adaptations, sound recordings, artistic reproductions, abridgments, and condensations, as well as any other form in which a work can be recast, transformed, or adapted.” Nobody can explain why the Bored Apes have grown in leaps and bounds in terms of cultural and economic development. This will forever remain one of the great enigmas of the ages. However, one factor, sometimes referred to as the Bored Apes’ terms, enables the owner to create a broader range of derivative works based on it. While the NFT license permits owners to use the artwork for “personal, non-commercial purposes” and for projects earning up to $100,000 per year, the BAYC terms permit unlimited commercial use of the artwork. To be precise, “ Yuga Labs LLC grants you an unlimited, worldwide license to use, reproduce, and display the purchased art in order to create derivative works based on the art.”

The first issue is that this license grant contradicts the statement in the two preceding paragraphs of the BAYC terms that “when you purchase NFT, you fully own the underlying Bored Ape, the artwork.” If Alice truly “fully owns” the art, Yuga Labs has nothing to offer and the commercial use license is superfluous. (This is another indication that the assertion that the owner of Bored Ape NFT “owns” the artwork, like many other assertions about what users truly own when they “purchase” content online, cannot be taken at face value.) MadCanner Copyright

Second, the term does not fit well with downstream transfers. Consider Alice and the Woodchuck laboratory once more. Suppose Alice owns WoodChucker number 12345, and she allows filmmaker Fern to create a series of videos based on Woodchuck number 12345. These videos are derivative works under copyright law, and Fern has her own copyright on them. Now that Alice has decided to sell 12345 Woodchuck to Bob, what should happen to Fern’s license? MadCanner Copyright

A simple answer is that since Alice’s copyright license to use 12345 Woodchuck ends when her ownership of NFT ends, so does any sublicense she grants. This means that the license to these videos ceased the moment Alice sold them to Bob, and if Fern continues to play them, she becomes a copyright infringer! This is bad from Fern’s point of view because he has invested time and money in making the videos. It’s also bad from Alice’s perspective, because if Alice could have gotten out by selling NFT to Bob, Fern should be very reluctant to spend the money to license Alice’s rights. Thus, this solution effectively makes the rights to the derivative work unsaleable.https://discord.com/invite/Wduk7zNjPM

[fsdjfls]

How do modalities, myths, and NFT contribute to the formation of cultural identity? MadCanner contribute

While humans have always been storytellers and the earliest knowledge was transmitted orally, there is ample evidence throughout history that visual narratives were critical to people prior to the invention of written language.https://discord.com/invite/Wduk7zNjPM

This is evident in rocks from various cultures, eras, and locations, with some of the images on the rocks dating back 50,000 to 100,000 years.

Numerous motifs are instantly recognizable, depicting plants and animals indigenous to the area surrounding the caves, and numerous photographs depict people as hunters, mothers, warriors, and shamans.MadCanner contribute

These shamanic images imply that humans have always been fascinated by the supernatural, or, in other words, that people are frequently fascinated by stories about people other than themselves.

These stories have been codified over millennia and myths passed down through generations, assisting in the transmission of beliefs, traditions, myths, portraits, and identities in a serious and solemn world.

Even today, stories and myths from ancient societies such as Ancient Greece exist only in our modern lexicon.

It is frequently asserted that wisdom can still be found in ancient history’s stories, and the stories we look back on are actually woven from the traditions and cultures of the time period.

Modalities and NFT serve as a social and cultural map.

So how does this relate to contemporary society, modalities, and NFT?

Modalities: Users from other countries take certain types of content that elicit empathy (including but not limited to real-world hotspots, segments, and stems) and transform them into graphics, gifs, and videos that can be widely distributed. It is comparable to domestic emoji packs, picture segments, play stems, and ghost animals in terms of existence (special effects).

On the one hand, we can understand myths superficially — they are descriptions of real events (with minor modifications) or we can use them as educational activities, but myths are much more than that in social terms.

We see ourselves reflected in myths — who we are and who we aspire to be; myths also vividly tell us who we are not supposed to be.

These stories and morals are entwined with a society’s sense of self, and as such, they are carved in stone and can be passed down through the ages.

The majority of myths that have endured the test of time can be reduced to a single primary image (mental or literal) that is easily identifiable and shared. Consider how the Greek Trojan War was reduced to a single image: the Trojan Horse.

This image and story of the Trojan horse are easily relatable and can be used to draw parallels with contemporary culture, politics, and society. This is a classic illustration of an improbable but successful modus operandi.MadCanner contribute

PFP develops into a status symbol.

PFP’s NFT representation re-emphasizes both the visual narrative and identity shift. A successful NFT project can be modalized in and of itself.

Consider the ways in which BAYC has become ingrained in the cultural imaginary for which they are renowned.MadCanner contribute

Indeed, whenever I ask someone, “Why don’t you like NFT?” they respond, “I don’t like monkey pictures.” The majority of people who delve into the NFT field resist this pervasive trait, but combating this popular modality almost always fails.

Of course, it’s not just symbolic of NFT; the ability to display owned BAYCs as profile pictures (PFPs) is also a status symbol for those in the NFT space.

Twitter, the social media giant, recently updated their platform to include a connection to the MetaMask wallet, enabling users to use their NFTs as Twitter PFPs. Twitter would not have taken this action if they had not recognized the connection between personal identity and NFTs.

While not all NFT projects reach the public eye, and many smaller NFT projects may never achieve that status, these smaller NFT projects continue to forge identities around narratives.

Numerous NFT projects have sprung up with access to private Discord servers where collectors of these projects can communicate with one another — if the art style or philosophy of the project resonates with certain individuals, a community of shared beliefs will form.

The process by which identities are created is evolving.

No discussion of modality, myth, NFT, or identity is complete without acknowledging the evolution of musical identity over the last few years.

For many people who grew up in the 1970s and early 2000s, all it took to gain influence within their circle of friends was to recommend cool music to their peers. And, while that law still holds true to some extent in the modern era of popular music, the act of discovering a band or artist is no longer as subversive as it once was.

Indeed, I believe that the search for NFT artists and their art is eclipsing this ostensibly legal process. Finding NFT in a style that resonates with you can be difficult, and NFT projects with an artistic spirit or philosophy are something of a rarity in this mixed market. However, once the object is located, they can benefit from belonging to it and finding meaning in it.

That is why it is intriguing to see some brands from the NFT program, which is becoming increasingly visible, such as the BAYC hoodies, at NBA games.

NFT marketplaces such as Curate.style recognize the value of wearables and will soon enable artists to print NFTs on merchandize. This way, collectors will be able to own both a digital and a physical copy.MadCanner contribute

Codyfied’s “Skater Gurl” and “Skater Boi” series are PFPs with a similar sense of community to graphic tees and Twitter PFPs.

What does this imply?

Individual and collective identity are significant to people as long as there is documentation of them. One might argue that the desire to belong is as essential to humanity as food and water.

Additionally, we see how identity is formed through mutual appreciation and storytelling. Mythology has endured throughout the ages not only because of its compelling stories, but also because a people or society can visualize the values and dreams mapped out in the stories.MadCanner contribute

Today, in the twenty-first century, music contributes to identity formation, and while music continues to play a role for many people, visual art and PFP are emerging as a new way of representing community membership as a result of technological advancements over the last two decades. Today, identities are formed by fusing stories and images — just as ancient mythological tales did.

Eventually, society develops new technologies that alter the way it communicates, but the way we tell stories and construct identities appears to have remained relatively unchanged for tens of thousands of years, and NFT is just the latest mode of self-expression.https://discord.com/invite/Wduk7zNjPM

[fsdjfls]

Three Chinese major associations jointly voice these NFT risks you must know MadCanner digital artwork

In recent years, the popularity of NFT is evident to all. Whether it is the stars are often tens of millions of dollars NFT head, or auction houses continue to refresh the high price of NFT artworks, since the meta-universe trend sweeping the world, a variety of NFT projects are springing up, and the ownership of NFT also seems to have become a “hipster” standard: its high price, is not only a symbol of financial strength, but also The high price is not only a symbol of wealth and status, but also an investment value, which is a “triple win”.https://discord.com/invite/Wduk7zNjPM

Bored Ape Yacht Club (BYAC) NFT

The NFT trend has also attracted the attention of domestic regulators, and on April 13, the China Internet Finance Association, the China Banking Association and the China Securities Association issued a rare joint statement on the initiative to prevent financial risks related to NFT (Non-Fungible Token). The initiative proposes to resolutely curb the tendency of financialization securitization of NFT. Not to include financial assets such as securities, insurance, credit and precious metals in the underlying commodity of NFT, disguised as the issuance of trading financial products.MadCanner digital artwork

What is NFT?

NFT (Non-Fungible Token) is a non-homogenized pass, mainly through the blockchain can not be copied, can not be tampered with the characteristics of the establishment of smart contracts to help digital assets to achieve power confirmation in the form of smart contracts, NFT is not interchangeable, indivisible, unique, and homogenized pass has an essential difference.

The positive effects of NFT MadCanner digital artwork

The most common application of NFT is to combine with digital artwork to give digital artwork a trading value. For example, if you use an original image as a public avatar on a social media platform, others can easily save it for their own use, and onlookers cannot distinguish the ownership of this image and who is the real owner. The NFT, which relies on blockchain technology, allows digital artworks to be traced back to their roots, ensuring that every link from creation to circulation is open and transparent and cannot be tampered with — anyone can simply open a blockchain browser and not only check the owner’s address within seconds, but also view the historical transaction price. Thus, NFT allows artworks to have full transaction value and collection value.

Internationally, luxury brand Gucci has collaborated with technology companies to launch a line of AR virtual shoes, Louis Vuitton launched an NFT-based game app “Louis: TheGame” to celebrate the founder’s birthday on its 200th anniversary, and Marvel In China, in June 2021, Alibaba launched its platform “Whale Quest” and issued NFT collections; last July, Tencent released the first domestic NFT trading app “Phantom Core” and launched NFT In December, Jingdong created the NFT distribution platform “Spirit Rare”, Xinhua News Agency released a news digital product, and B station issued NFTs for users with a limited number of 2,233 avatars; in January this year, the famous domestic IP Beaver also launched “Ali&His Friends” series NFT.MadCanner digital artwork

With the development of the digital economy and the impact of the epidemic on people’s interactions shifting more to the virtual world, the value of virtual assets such as NFTs is increasingly recognized by people. The release of NFTs by celebrity companies not only brings certain economic benefits through the “fan economy”, but is also a “trendy” brand marketing tool.

From this initiative on the one hand affirms the positive role of NFT in promoting the digitization of industry, digital industrialization, but also pointed out that NFT “there is speculation, money laundering, illegal financial activities and other risks hidden.MadCanner digital artwork

The “dangerous building” under the illusion of wealth creation myth

Everydays — The First 5000 Days

On March 11, 2021, the NFT artwork “Everydays — The First 5000 Days” created by digital artist Beeple fetched an astounding price of $69.346 million at Christie’s, which is about RMB 450 million, shocking the crypto world and the art world. CryptoPunks, known as the progenitor of NFT, was once just a set of discarded avatars distributed for free. As of early April this year, CryptoPunks’ market value reached $1.66 billion, with a total transaction amount of $2.71 billion. Among them, CryptoPunk #3100 was the highest NFT auction record in history on August 2, 2021, with the highest final transaction price of 42,000 ETH, or about $108.6 million, the highest single-price NFT work in the world.MadCanner digital artwork

It is worth noting that the selling price of NFT is determined by the project owner, and people often choose to buy NFT out of trust in the project owner or recognition of the project owner’s “story”. NFT as a natural financial attributes of the product, naturally easy to trigger the operation, with the spread of the Internet and the media to push the wave, the whole industry continues to climb, high transaction prices and huge profits to attract more and more newcomers to run into, speculators to join the whole industry injected a huge bubble, follow the wind and hype, the NFT price is also the water to rise.

According to Token Terminal data, foreign well-known NFT trading market OpenSea 2021 trading volume of $ 14 billion, 2020 trading volume of $ 21.7 million, an increase of 646 times. 2022 first quarter NFT total trading volume is compared to last year’s fourth quarter of $ 8.134 billion, an increase of nearly 40%, reaching 11.397 billion USD.

The high growth has been accompanied by numerous incidents of NFT theft and fraud. On April Fool’s Day this year, Jay Chou’s NFTs worth $3.2 million were stolen; in February, OpenSea was hacked and 254 NFTs were stolen for a total of $1.7 million; on foreign social networking sites, incidents of NFTs being lost due to phishing sites are rife. In addition, the actual value of NFT is difficult to quantify, and the transaction price depends on the transaction between buyers and sellers. Due to the decentralization and anonymity of blockchain, NFT is becoming the new favorite of money laundering crimes, and may fall into the hardest hit area of money laundering crimes.

These NFT risks you must know

1. NFT “breakage” phenomenon is serious

For the purchase of NFT users, with the rapid rise in NFT fever, the market has long been mixed, filled with a large number of shoddy NFT projects, these projects are issued that peak, so many of the first to “eat the crab” users suffer losses.

For the release of NFT project side, in addition to the release of NFT requires high Gas fees, followed by continuous operation, in order to have consensus and heat, market and traffic, there will be room for appreciation. Even if the NFT is free and low-cost casting, the project side that can not enough still can not cause the subsequent dissemination, so there is a risk of breaking to zero.

2. There is a risk of buying NFT

In addition to the risk of breakage to zero, the existence of shoddy and even fraudulent NFT projects makes the purchase of NFT also has the risk of fraud. the NFT market is dominated by whale users (high spending groups) and savvy buyers, and the wallet movements of these celebrities in the NFT field are also the vane of the market-sensitive retail investors. There are some fraudulent organizations through the forged code, they cast their fraudulent NFT project airdrop to the wallets of celebrities, disguised as celebrities to buy the illusion of their own, thus attracting people to buy the fraudulent organization’s NFT, and finally escape with the money.

3. NFT “laundering transactions” there are money laundering risks

Cleaning transactions is the holder of a certain NFT, through repeated frequent transactions between their different digital wallets, so as to increase the price of the NFT in the exchange behavior, so as to artificially create the NFT or NFT series is very prosperous and in demand the illusion, so as to attract others to buy high price “to take over”. Data shows that 110 NFT traders made $8.9 million in profits from “wash trades” throughout 2021, without the buyers even realizing it.

In addition to this self-directed scam, criminals can also use stolen funds to buy or mint NFTs, then launder the money by laundering the transactions and selling the NFTs to unsuspecting parties. Compared with traditional art money laundering, NFT and other art transfers are more convenient, and the Gas fees generated by frequent transactions are lower, and the decentralization and anonymity of NFT and other features also make it more difficult to trace and recover stolen goods.MadCanner digital artwork

4. NFT is becoming a new target for hackers

The increasing price of NFT has naturally attracted the attention of many hackers. We have to prevent hacking attacks not only from the technical level, but also from social engineering, simply put, all kinds of fraud against people, of which the most common fraudulent techniques is phishing scams.

Discord, Telegram and other chat software is filled with a large number of phishing website links, hackers or posing as community administrators to help users solve problems, or release a false message to receive free NFT airdrop, sending phishing website links to users, once the user authorized to hackers imitation of the false website, will face huge losses. Social media platforms are also the hardest hit by phishing scams, where hackers steal authenticated social media accounts (including industry vloggers, journalists, media and other professionals), modify profiles and post fraudulent airdrop messages.

Related reports show that there are already mature phishing scam technology service teams in markets such as Telegram, where attackers can purchase the full set of technology services needed for phishing scams at a very cheap price. A complete phishing industry chain has been formed, from propaganda to front and back-end fraud techniques: phishing fraud techniques also range from traditional fraud techniques such as inducing authorization and transferring funds to new fraud techniques such as being scammed as soon as a website is connected, attacking NFT holders on all fronts.

In order to prevent financial risks, protect the legitimate rights and interests of consumers, and maintain the healthy ecology of the industry, the China Internet Finance Association, the China Banking Association, and the China Securities Association jointly put forward this initiative, which clearly proposes to resolutely curb the tendency of financialization and securitization of NFT. In this regard, Beijing Yingke Law Firm lawyer Cao Shiyong said, “This is an ‘initiative’ to suppress the first, like a preview of the relevant legislation, we can foresee that the stripped tokens and financial attributes of NFT, will be towards the healthy development of the direction of empowering the real economy. “MadCanner digital artwork MadCanner digital artwork

Attachment “Initiative” original

China Internet Finance Association China Banking Association China Securities Industry Association Initiative on Preventing Financial Risks Related to NFT MadCanner digital artwork

In recent years, China’s NFT (Non-Fungible Token) market has continued to heat up, and as a blockchain technology innovation application, NFT has shown some potential value in enriching the digital economy model and promoting the development of cultural and creative industries, but there are also risks of speculation, money laundering and illegal financial activities. In order to prevent financial risks, protect the legitimate rights and interests of consumers and maintain a healthy ecology of the industry, the China Internet Finance Association, the China Banking Association and the China Securities Association jointly call on their members to jointly launch the following initiatives:

First, adhere to the righteous innovation, to empower the real economy

Practice the concept of technology for good, reasonably select application scenarios, standardize the application of blockchain technology, and play the positive role of NFT in promoting the digitization of industry and digital industrialization. Ensure that the value of NFT products is fully supported, guide consumers to rational consumption, and prevent inflated prices from deviating from the basic law of value. Protect the intellectual property rights of the underlying goods and support genuine digital literary works. Truthful, accurate and complete disclosure of NFT product information to protect consumers’ right to know, right to choose and right to fair trade.

Second, adhere to the bottom line of behavior and prevent financial risks

Resolutely curb the tendency of financialization securitization of NFT, strictly prevent the risk of illegal financial activities, and consciously comply with the following codes of conduct.

First, do not include securities, insurance, credit, precious metals and other financial assets in the NFT underlying commodity, disguised as the issuance of trading financial products.

Second, do not weaken the non-homogeneous characteristics of NFT by splitting ownership or bulk creation, disguised as a token issuance financing (ICO).

Third, not to provide centralized trading (centralized bidding, electronic aggregation, anonymous trading, market makers, etc.), continuous listing trading, standardized contract trading and other services for NFT transactions, disguised as illegal establishment of trading venues.

Fourth, not to bitcoin, ethereum, tedar coin and other virtual currencies as the NFT issue transactions in the valuation and settlement tools.

Fifth is to authenticate the real names of the issuing, selling and buying subjects, properly keep customer identification information and issuance transaction records, and actively cooperate with anti-money laundering efforts.

Sixth is not to invest directly or indirectly in NFT, and not to provide financing support for investment in NFT.https://discord.com/invite/Wduk7zNjPM

[fsdjfls]

How did OpenSea become the most popular non-financial trading platform? MadCanner Opensea

While we are all aware that OpenSea is the sole NFT marketplace, how did OpenSea become the most popular NFT marketplace? The article details how OpenSea made the correct choice step by step during the crypto winter of ’18: they predicted the promising path; created their own supply and demand relationship; and polished the product with an eye toward maximizing user experience… Through these, OpenSea ascended to the status of a unicorn in the NFT trading market. Where will OpenSea go from here?MadCanner Openseahttps://discord.com/invite/Wduk7zNjPM

Consider the winter of 2018, when the crypto market was on the verge of collapsing, even blue chips like BTC and ETH were down 90% from all-time highs, and projects with once-grandiose visions were being shuttered one by one. Thus, during Thanksgiving dinner, your uncle may sarcastically inquire, “How are your bitcoin investments?” For a time, the scene was extremely awkward.

However, while other cryptocurrency projects have folded, one maintains its faith and verve. This is OpenSea, which launched in February 2018 and is still on track to become the “eBay of the cryptocurrency industry.” This perseverance paid off, as OpenSea has grown to become the most popular NFT marketplace, with a recent valuation of $13.3 billion. This article will examine the factors that contributed to OpenSea’s tremendous success and where it is headed in the future.

To begin, what is NFT?

NFT (Non-Homogenized Token) is a blockchain-based method of storing ownership of assets. It could be digital assets like photographs and music, or it could be physical assets like land titles and diplomas. Due to the fact that the blockchain is completely decentralized and censorship-resistant (at least in the case of Ether), you do not need to go through a third party to maintain such ownership records.

OpenSea is a marketplace that interacts with the underlying blockchain to enable the creation and trading of non-fungible tokens (NFTs) representing digital assets (such as images, music, or even domain names on Ether), and the marketplace serves as a means of facilitating the sale and purchase of products. Consider the likes of Amazon, Uber, and Airbnb. The majority of marketplaces do not stock products; rather, they enable others to sell (there are exceptions, like Amazon who also sell their own products).

Is OpenSea truly that well-known?

Consider the data. The table below compares the various NFT marketplaces in terms of user base, transaction volume, and ETH volume over the last 30 days. These statistics come from DappRadar, which monitors various metrics associated with Ethernet applications by querying Etherchain data.

As evident from the foregoing, OpenSea is already flying high, or should I say flying high (get it? (Do you get it?) [The original article most likely intended to use the metaphor of water drops replacing sand and dust as a massive competitive advantage]. It has facilitated approximately $4.5 billion in transactions (or 1.5 million ETH) over the last 30 days, far more than any of its competitors. To summarize, eBay processed approximately $6.6 billion in monthly transactions during the last quarter. OpenSea and eBay deal in entirely different types of goods, and I applaud OpenSea for operating in the cryptocurrency space while maintaining a presence in the traditional marketplace.MadCanner Opensea

What exactly are they doing correctly?

A project’s success cannot be attributed to a few factors; it requires a great product, a talented team, the right opportunity, and good fortune. While OpenSea appears to possess all of these, we can still assess what they did correctly to get to where they are now.

Rapidly increase supply and demand

As Lenny Rachitsky (former product manager at Airbnb) discussed in his newsletter, one of the most significant challenges associated with launching a marketplace is a “chicken and egg problem.” How do you persuade suppliers to list their products when the platform has no users, and how do you attract buyers when there are no products?

Most established marketplaces succeed by first establishing a supply channel, and this is also true for OpenSea. As The Generalist reports, they are doing everything possible to increase initial supply, as Richard Chen (Partner at crypto investment firm 1confirmation) sums up perfectly in the following quote.

“Devin and Alex (co-founders of OpenSea) did an excellent job of discovering new NFT projects in Discord and successfully competing with Rare Bits (OpenSea’s strong competitor at the time) to get these projects up and trading on OpenSea rather than Rare Bits. At the time of our April 2018 investment, OpenSea was trading at approximately four times the volume of Rare Bits.”

- Chen, Richard

These efforts resulted in OpenSea’s early partnerships with a variety of projects/artists, including supporting Axies (arguably the most popular Ether-based game), purchasing Decentraland (an Ether-based virtual game similar to Minecraft) using its native token MANA, partnering with Major League Baseball to sell MLB Digital collectibles, partnering with Deadpool Officials to sell digital collectibles, partnering with German soccer club Bayern Munich to list player cards NFT, and securing funding for This exhaustive list demonstrates the team’s commitment to establishing stable supply relationships with as many projects as possible, as well as its vision to cater to NFT across a broad range of categories, including gaming, art, sports, entertainment, and domain names.

OpenSea’s rapid growth is fueled by the platform’s user-friendly features, which make it simple for vendors to get started with OpenSea. The NFT listing is not subject to licensing and does not require any approvals or lengthy approval processes. Additionally, OpenSea enables the seller to pass on the cost of casting new NFTs on Ether to the buyer. Both of these features significantly lower the entry barrier for emerging artists/projects and significantly enhance the platform’s NFT inventory.

Once a stable supply is established, the traditional marketplace shifts its focus to demand generation, which is somewhat easier for OpenSea, which defines itself as an NFT platform and attracts early partners, and a steady stream of new projects begin to shelve NFTs on OpenSea, bringing customers with them. Due to the fact that OpenSea pays royalties on each sale of NFT, the projects are incentivized and thus encouraged to use OpenSea by their customers. Additionally, the NFT mania that began in the summer of 2021 has fueled demand for OpenSea. When the crypto community embraces this non-DeFi use case for the blockchain and establishes new transaction records on Ether, guess who will be there to facilitate this and profit handsomely?

Optimum user experience

As Sarah Tavel discusses in her blog post, the market should prioritize not only supply growth, but also product features that enhance the user experience. As Uber does with credit card senseless payments, Airbnb facilitates host access to customers by establishing a premium host program that rewards hosts who meet certain criteria with a special display badge. openSea has also excelled in this area.MadCanner Opensea

Among their significant accomplishments is the implementation of a robust filtering and sorting feature that enables easy discovery of NFTs. It may appear insignificant, but it is not. Each NFT collection has unique characteristics and rarities, and OpenSea supports “custom” filtering and sorting that changes according to the collection being viewed, allowing users to narrow their search results based on the collection being viewed.

Diverse filters for various collections

Following that, they took specific steps to address the primary issue plaguing NFT enthusiasts and Ether users in general — the prohibitively high Gas fee, which is the fee charged for each transaction on the Ether network and paid to the network’s operators, or miners. However, due to the absurdly high demand for Ether and the network’s current capacity, the fee for each NFT transaction ranges from tens to hundreds of dollars (depending on network congestion). While OpenSea has no control over the Gas fees at the Ethernet network’s bottom, they have implemented several features that mitigate these costs to some extent.MadCanner Opensea

They enable off-chain auctions, allowing the Gas fee to be used only once during the final sale, lowering off-chain auction prices so that price changes do not require a Gas fee each time, and introducing “lazy one-click casting,” allowing artists to cast NFTs for free and the buyer bearing the Gas fee. OpenSea is integrated with Polygon, an Ether sidechain with lower transaction fees.

Additionally, OpenSea places a premium on the financial aspect of the product, allowing users to purchase NFT using cryptocurrencies other than ETH, most notably stablecoins such as Dai and USDC. This is particularly advantageous because purchasing ETH triggers tax events in a number of countries, and using a stablecoin is a simple way to avoid this.

Make the correct selection

A strong product is a critical component of success, but it is not the only one. Throughout its lifecycle, each project is confronted with a plethora of choices, and the ones made determine whether the project will ride the waves or capsize. openSea has made numerous wise decisions on their ascension to the top.

Priority one is their commitment to their mission. The Generalist reports that they have a strong belief in something called ERC-721. This is a standard developed by core Ether developers that defines the creation and transfer of non-volatile memory on Ether. The establishment of this standard demonstrates that the field is significant enough to attract the attention of Ether developers and that all future NFT projects will adhere to it. As a result, they’ve built a marketplace on top of the ERC-721 standard, which will eventually support all future NFTs. By aggregating NFT supply, OpenSea enables a more convenient buying experience for buyers. Previously, each project was required to establish its own marketplace; for example, CryptoPunks and Axies established (and continue to maintain) their own NFT trading platform.

This faith in NFT also aided them in surviving 2018’s cryptocurrency winter. When the cryptocurrency market tanked and few projects survived, OpenSea operated with a lean team of seven employees, relying on constant transaction fees to stay afloat and continue plowing deeper into the industry.

However, they were recently confronted with some more difficult choices when a few bugs in the code resulted in the sale of a large number of high-value NFTs at a discount. They determined that they would compensate impacted users for their losses. Similarly, they froze the stolen NFTs in some instances. While some have criticized them for this, as it contradicts the fundamental decentralized crypto spirit of the censorship boycott, these steps have undoubtedly contributed to user trust.

What lies ahead for OpenSea?

What are your plans once you’ve conquered the world? You annihilate any competitor who dares to challenge your dominance. This can be accomplished by dominating your field by a wide margin, by expanding into new fields or tracks, or by combining the two.

OpenSea is already a market leader in the non-volatile memory (NFT) market. They do, however, face a genuine and significant threat from LooksRare, the market’s newest dark horse. This newly launched NFT marketplace has a number of advantages over OpenSea: it charges lower fees, has native tokens, which makes it significantly more appealing to crypto natives, and shares all of its fees with token holders. As shown in the preceding table, LooksRare has surpassed all other platforms and is closing in on OpenSea in terms of trading volume and transaction volume.

So, will OpenSea issue its own cryptocurrency? That is not the case. As a US-based company, OpenSea enjoys a favorable relationship with US regulators and cannot risk launching a token that would arouse regulators’ wrath and thus impede their operations. As a result, OpenSea’s strategy going forward is to optimize the user experience and potentially expand into new tracks. The following are some possible alternatives.MadCanner Opensea

Expansion of mobile. openSea already has a mobile application, but it is extremely limited in functionality and does not even support trading NFT. The app should abstract away the complicated process of creating a wallet, storing a helper (which can be performed by advanced users), and calculating Gas fees. Essentially, it enables a frictionless transition to use for crypto novices.

Investigate NFT fragmentation, a process by which the original owner of an NFT can divide ownership into multiple smaller tokens that can be purchased by others to share ownership of the NFT. Currently, the majority of people cannot afford to own blue-chip NFTs such as BYAC or CryptoPunks, but such ownership will be in high demand in the future. The original owners of fragmented NFTs may benefit from increased liquidity and potential “curator” fees associated with their sale. Win-win!

Consider partnering with a DeFi agreement (or establishing your own) to enable the use of NFTs as collateral for loans, beginning with blue-chip NFTs. This cross-disciplinary collaboration has the potential to expand OpenSea’s user base and demand.

It is worth noting that some of the above-mentioned options, such as the fragmentation of NFTs and their utility as collateral, may subject OpenSea to regulatory scrutiny. As a result, they must proceed cautiously. Indeed, regulation is a significant potential stumbling block that OpenSea must continue to avoid, given the general lack of clarity surrounding the regulation of all cryptocurrencies. Indeed, as the crypto community’s dominant players, they may consider lobbying for crypto-friendly legislation to aid the ecosystem’s growth. After all, great authority entails great responsibility!https://discord.com/invite/Wduk7zNjPM

[fsdjfls]

How to choose your first MadCanner non-financial transaction in life A purchasing guide that my grandmother can comprehend

If you, too, are intrigued by the world of unique and exclusive collections and eager to enter a new world, then this guide is for you.https://discord.com/invite/Wduk7zNjPM

Microsoft announced the acquisition of Activision Blizzard, a game developer and publisher of interactive entertainment content, on the morning of January 18, local time in the United States, for $95 per share (a total of $68.7 billion), making it the largest deal in gaming history. If you are unable to read this paragraph and have no idea why Microsoft is spending $60 billion on a game company, then congratulations; your life is good and you have not been recruited to become a game nerd by Ubisoft, Sony, or Tencent.How to choose your first MadCanner

And on March 14, 2019, an event occurred that was no less shocking to NFT players than the “Microsoft acquisition of Blizzard”: Yuga Labs, the parent company of Bored Ape Yacht Club, was acquired by Microsoft. Yuga Labs also acquired 400 CryptoPunks and 1,700 Meebits from Larva Labs in exchange for undisclosed intellectual property and assets.

If you are unable to read this paragraph, it is of poor quality.

What exactly is NFT?

To illustrate, NFT, or Non-Homogenized Token, is a concept that can be contrasted with BTC and ETH, which are homogenized tokens. Homogenized tokens are identical in every way; one of my BTC and one of your BTC have the same value and are indistinguishable. On the other hand, each NFT has a unique value, as indicated by its external style or hash value.

NFT can be expressed as a picture, a piece of music, a video, a game character, or a game prop, among other things, and its smallest unit is 1.

NFT is present on the chain and in your wallet; even if the project’s owner does not provide a trading market, you can still trade and transfer via the wallet or NFT exchange.

If you’re still unsure, how about viewing an example?

Consider a few of the hottest NFT blue-chip projects currently underway.

Cryptopunks

This pixel villain, Punks, is frequently used as an avatar on social media platforms. Punks was founded on eth in 2017 via algorithmically generated 10,000 NFT, punks are not empowered, but pioneered the NFT “pioneer,” is the NFT April 12, 2022 floor 65ETH, approximately $190,000.

*floor price: the pending order price that is the lowest in a particular NFT pool.How to choose your first MadCanner

5822 #cryptopunks

This pixelated villain in a blue bandana fetched 800ETH, or approximately $23.7M.

Yacht Club of the Bored Ape

This should be one of the most bizarre NFT projects ever. This blue monkey avatar of NBA star Curry was created by Bored Ape Yacht Club, a relative newcomer to the NFT space, also dubbed the ETH of the NFT class. On April 12, 2022, Cryptopunks’ floor price of 113 was surpassed. BAYC’s meteoric rise is a result of its project owner Yuga’s excellent operation.

Yuga uses it as a club membership credential.How to choose your first MadCanner

Mutant Ape Yacht Club NFT Airdrop (2022.4.12 floor price 26 ETH).

The owner of the project promises that when it enters the metaverse, it will have the same elements as 3D apes.

SandBox

While the preceding two items may give you the impression that “NFT is simply an avatar-like image,” you must also have heard the news that “xxx laid out the metaverse and purchased a piece of land in xxx for xxx ETH.” Consider the following game.

The image above shows a map in the sandbox game SandBox, which contains 166,464 coordinates and “plots” of varying sizes on which you can build an amusement park, a casino, a private park, or abandon it. Yes, that is adidas in the center, which they purchased.

Thus, what other types of NFT exist?

There are numerous types of NFT, and an NFT does not have to fit into a single category; just as a person’s profession can include being a programmer, a writer, and a photographer concurrently, an NFT can also fall into multiple categories.

PFP

Profile Photo: This is your profile photo. Punks and BAYC, which were mentioned previously, fall into this category and can be used to create social platform avatars. Additionally, this is the most flirted with; for instance, we frequently hear people flirting: “XXX spent $XXX to purchase an avatar.” Indeed, holding an NFT enables individuals to connect with others who share their consensus via an ensemble of NFTs, especially when the NFT is valuable and serves as a luxury item. By the way, this circle has an unspoken agreement that you may only use the NFT that you own for your avatar.

Metaverse

The SandBox is not just a picture; it is also the metaverse’s infrastructure; the SandBox constructs the underlying framework, while the users who purchase plots construct the upper application layer.

Art

Art Blocks is a platform for randomly generated artwork, consisting of several collections of randomly generated programming code, each collection representing a theme, with the number of NFTs for each theme predetermined in advance.

Collection of Opensea Art Blocks

Among the assortments

Game

Godz is a P2E (Pay-to-Earn) game in which each character is a non-transferable token (NFT).

Collectibles How to choose your first MadCanner

As with physical collections, artists permanently store their work on the blockchain. beeple drew a picture a day for 5,000 days to create EVERYDAYS: THE FIRST 5000 DAYS, which was sold at Christie’s in March 2021 for $69,346,250.

EVERYDAYS OF BEEPLE: THE FIRST 5000 DAYS

Music

In reality, the issue of music copyright has always been a source of contention for musicians. Converting music to NFT and publishing it on the chain is a novel approach to resolving the copyright issue.

Chen Huanren’s music NFT “The xxxx is an NFT” was released.

Thus, how should the value of NFT be determined?

The Group

As is the case with other cryptocurrency projects, the team is critical. The team’s real name, the country from which the team originated, the identity of the NFT drawer, whether the team has experience operating high-quality projects, whether they work diligently, whether their network resources are extensive, and so on.How to choose your first MadCanner

Information Regarding the Project

White paper: the official website and the white paper’s completeness, as well as the presence of plagiarism. The total number of NFTs in the project, the total number of whitelists and how to obtain them, the mint price, and the mint time.

Roadmap: Determine whether the project has a roadmap, determine whether the roadmap is innovative, determine whether the roadmap is feasible to implement on the ground, and determine the project’s ability to adhere to the roadmap.

Communal zeal / unanimity

The value of NFT is determined by community sentiment and consensus, and the floor price is a reflection of that sentiment. However, once the heat is removed, the consensus is broken, and the plate cannot be sold, instantly reducing its value to zero. Therefore, monitor the community heat; consensus is a critical component of determining the value of NFT, and is currently the primary observation of Twitter and Discord heat.

Twitter: the number of fans, the date the account was created, the number of tweets, the number of comments and praise, and the quality of those comments and praise, as well as the list of how many NFT circle members and NFT KOLs followed the project party.

Discord: total number of users and active users, operation capability (ascertain whether the team is familiar with web3 operation and gameplay), and so on.

IP

IP plays a critical role in establishing community consensus.

Beaver and Cold Rabbit are well-known cartoon characters on web2.

Adidas is a well-known brand.How to choose your first MadCanner

Mfers: community culture based on memes.

Aesthetics

Unlike hardcore technical projects such as public chains and prophecy machines, NFT is primarily expressed through images, and because it also elicits emotional responses from investors, aesthetics plays a significant role in NFT.

I have to say that BAYC’s painting style is very much in line with European and American perceptions of trends.

In a market crowded with hip and cool monkeys, dogs, and cats, the adorable, simple, human-shaped Doodle stands out.

Takashi Murakami and Nike collaborated to create a clone of the “cool” style of painting…

Wait…

Celebrity influence

The celebrity effect is also quite significant in this circle, ranging from Curry’s promotion to Takashi Murakami’s own release of NFT.How to choose your first MadCanner

BearFantasy (also known as “Jay Bear”)

The Heart Initiative (also known as “Guanxi Heart”)https://discord.com/invite/Wduk7zNjPM

[fsdjfls]

Do you acquire the rights to the original content when you acquire NFT?development of MadCanner NFT

With the rapid development of MadCanner NFT, various industries have begun to enter the NFT circle, and large and small NFT projects continue to flood the market, resulting in a booming NFT market overall.https://discord.com/invite/Wduk7zNjPM

However, the larger the market, the more complications will arise. Several NFT projects have encountered copyright disputes in the recent past, igniting a wave of “litigation,” and the issue is one of “original confirmation of rights.”

Suits brought about by copyright infringements development of MadCanner NFT

Quentin Tarantino announced at the end of last year that he would release seven “exclusive content” NFTs for his 1994 film “Lowlife,” which would include never-before-seen scenes from the film, Quentin’s original handwritten script, Quentin’s own commentary on the film, and other content. However, not long after, Quentin was struck by the film. However, shortly afterwards, Quentin was sued and taken to court by Miramax Pictures, a film production company.

Getty Images/Source

Miramax Pictures asserted that Quentin transferred the majority of the rights to “Lowlife” in 1993, including some of the seven NFTs, arguing that Quentin did not own all of the content and had no authority to sell the NFTs.

Miramax Pictures also claimed that Quentin’s team ignored them completely when announcing the NFT release to the press and did not consult with them, which prompted Miramax to sue Quentin.

Quentin, on the other hand, is not convinced. The two parties’ initial option agreement stipulated that Quentin would retain a limited set of rights.

Several of these rights include the following.

Acoustic albums, music publishing, live performances, print publishing (which includes, but is not limited to, screenplay publishing, book, comic, and novel “production,” as well as content production in audio and electronic formats), interactive media, theatrical and television sequel production and remake rights, and television series filming and spin-off rights.

While this list of reserved rights does not include digital NFT publishing rights, Quentin does have the right to publish “without restriction” in “electronic format.

Quentin may or may not have the right to cast NFTs in exclusive film content, as the agreement does not expressly authorize Quentin to use all Miramax Studios-owned and managed film-related content. This is a contentious case, with each side taking a different position.

Along with Quentin’s case, two other high-profile brands joined the “lawsuits” earlier this year.

In January, French luxury house Hermès sued American artist Mason Rothschild for trademark infringement over a series of Hermès Birkin bag-inspired NFT pieces dubbed “MetaBirkins” that sold for tens of thousands of dollars. The artist created a series of NFT pieces called “MetaBirkins” that were inspired by Hermès Birkin and sold for tens of thousands of dollars.

Hermès objected to both the name “Birkins” and the description of the bags, claiming that Rothschild’s use misled consumers and harmed the brand’s reputation.

Rothschild stated that the collection was a commentary on the inherent cruelty in the manufacture of leather handbags and a promotion of “fur-free” alternatives. Simultaneously, Rothschild believes that he and the famous pop artist Andy Warhol (Andy Warhol) are creating art by painting Campbell’s soup cans. In early March, Hermes filed another amended complaint.

Mason Rothschild’s photo/MetaBirkins

Nike sued StockX, an online merchandise resale platform, in February for trademark infringement. The catalyst was StockX’s launch of a new line of NFTs called “Vault NFTs,” which transformed physical Nike sneakers into NFTs, allowing users to purchase NFTs directly from StockX and then trade them with one another.development of MadCanner NFT

According to StockX, Vault NFTs serve as proof of ownership for physical items, and customers can “exchange” digital NFTs for the physical item.

Nike asserts that its customer base would incorrectly associate these NFTs with Nike, thereby harming Nike’s reputation, and that StockX’s NFT marketplace would be confused with Nike’s existing NFT marketplace, thereby resulting in unfair competition.

The founders of the NFT do not have complete rights.

One of the central issues in the preceding case is the “original confirmation of rights.” For many brands, launching the corresponding NFT product will virtually eliminate such controversy, as the product’s most unique, lowest level of intellectual property rights will remain in the brand’s hands.

Another example is the launch of NFT by news organizations that have a significant amount of exclusive original content and own the copyright to that content; thus, their launch of NFT will not be considered an infringement.

While it is true that NFT can be used as a form of “proof of rights” due to its inherent properties, whether it is images, audio, video, or any other type of content, they can all be cast as NFT on the blockchain for preservation and evidence, this role does have some limitations.

We need to emphasize through the preceding case that the NFT casting party does not always represent the copyright-owning party, that is, the NFT casting party is not always the right party for the relevant content, and that “proof of rights” can be maximized only on the basis of original confirmation of rights without issues.

While the cases mentioned above involve celebrities and major brands, ordinary people may also be a victim of infringement.

For instance, some unscrupulous individuals have stolen the works of several original artists and then cast them on OpenSea and sold them as original NFTs, jeopardizing the artists’ interests gravely.

Looking at the domestic market, the domestic NFT market is currently undergoing rapid growth, and many series of NFTs are cooperative in nature. That is, the platform, as the NFT casting party, can also be considered the “uplink party,” whereas the other party, as the content provider, the platform for the “original confirmation of rights” is critical; if the copyright is not a strong gate, the platform is likely to become an infringing party. A single party.

Thus, the platform, in collaboration with all parties involved in the launch of NFT, must ascertain that the other party retains all rights to the content and execute the necessary license agreement. For instance, the sole domestic NFT platform art platform will display the relevant authorization letter for each collaboration with the new IP.

Obtaining ownership of an NFT is not synonymous with obtaining the copyright to the original content.development of MadCanner NFT

One of the most significant features of NFT is that it provides “ownership.” When a person purchases NFT, the blockchain is attached to the buyer’s information, allowing you to prove that you own the NFT. However, ownership does not imply complete ownership of the NFT’s content.

Following the purchase of an NFT, you may acquire a series of rights and interests granted by the NFT’s related parties, which include the maker and creator. The creator of the NFT may be the same person as the content provider, or, as previously stated, one party may provide the content while the other is responsible for “uploading” it.

In the former case, individuals who purchase Bored Ape, for example, can become members of the Bored Ape Yacht Club and also participate in a series of special events organized by the project exclusively for NFT owners. Both the NFT casting party and the content copyright owner may offer a variety of benefits to the NFT owner in the latter case.development of MadCanner NFT

It’s worth noting that most of the time when we talk about rights acquired after purchase, we’re referring to the rights attached to the NFT as a work, not to the rights attached to the original content; thus, unless the exclusive contract states otherwise, the purchase of the NFT does not always imply the acquisition of the copyright associated with the original content.

Although the current law on NFT is not perfect, it is foreseeable that as the market matures, the relevant legal policies will be improvedhttps://discord.com/invite/Wduk7zNjPM

[fsdjfls]

NFT Evolution of a Smal MadCanner Picture

According to Nansen’s incomplete statistics, the number of NFT projects increased 2000 times between January and February 2022, with new PFPs appearing daily, and the market is not performing well.https://discord.com/invite/Wduk7zNjPM

One in every three projects has little or no deal activity, and one in every three projects has a breakout. Homogenization of NFT is a significant issue. Any launch must follow a whitelisting process, and Twitter is awash with whitelist sweepstakes. The majority of NFTs have the same application scenarios and contain no novel ideas.MadCanner Picture

Concentrate on the development of NFT, not on the flashy project of the moment. In this article, we will examine how PFP-like NFT is used in virtual galleries, meta-universe avatars and gear, NFT-Fi, clubs, and Web3 social interests, as well as provide specific examples from the entire track.

NFT+ virtual gallery featuring PFP

ONCYBER is a 3D and virtual reality display platform based on NFT technology. Users can enter any virtual pavilion, view NFT images, and interact with NFT dioramas. Additionally, users can create rooms to display their own NFTs.

ONCYBER represents the more functionally oriented NFT galleries, the majority of which are 3D/VR/virtual pavilions. Users can immerse themselves in the experience. On the other hand, curators have the ability to communicate their technological and artistic aesthetics to an audience.

Additionally, these NFT galleries expand their social functions. Take isotile as an example; in addition to allowing users to create their own rooms to showcase NFT, this project will evolve into a meta-universe where users can socialize and chat, allowing them to meet like-minded people in the world of NFT.MadCanner Picture

Additionally, there are NFT galleries that perform less pure functions, such as combining the trading auction function of NFT or acting as standalone NFT trading platforms. These platforms typically feature selected series, artist series, and other sections, in addition to providing users with access to the NFT archives.

Galleries are the most obvious application of photo-based NFT. In reality, galleries exist in every city, and exhibitions are held on a regular basis. Galleries can be considered a universal medium through which humans express their aesthetic preferences and thoughts.

NFT galleries have a monetary value and a need to exist. BeepNews counts ONCYBER, The IC Gallery, isotile, and MetaSpace among its projects.

NFT in conjunction with the meta-universe, PFP as incarnation and equipment

Decentraland is an excellent representation of the NFT meta-universe. Users can run around in the vast virtual space, take in the landscape from a variety of perspectives, and visit buildings with a variety of appearances and functions.

In Decentraland, NFT is primarily used to transport land, wearable equipment, and other items. Here, you can appreciate the combinability of NFT as an on-chain asset to the fullest extent.

Instead of being limited to characters in 2D chain games, the Axie Infinity pavilion features over a dozen small monsters that bounce in front of you, creating a sense of proximity.

BAYC, World of Women, and others exhibiting in The Sandbox’s NFT Institute; and Larva Lads, among others, hosting parties in Worldwide Webb, among others, are all excellent examples of NFT’s adaptability.

Due to this modularity, an increasing number of PFP-style projects have partnered with the metaverse. They acquire properties and land in the metaverse and host a variety of events.

Additionally, NFT is no longer a fixed asset in the metaverse. Players, brands, and project participants have created UGC based on NFT, providing a new way for NFT and the metaverse to interact.MadCanner Picture

Promo for Sotheby’s Virtual Auction

Additionally, the NFT meta-universe incorporates chain tour and DeFi elements. BeepNews counts 31 NFT meta-universes, half of which involve chain-game play and five of which involve DeFi play.

Consider Aavegotchi. The flagship title, The Gotchiverse, is a P2E NFT role-playing game. Users can swim through the meta-universe, harvest Alchemica, construct equipment, and battle liquidators, which is a typical chain game gameplay style.

Meanwhile, the Aavegotchi ecology supports token staking, NFT leasing, and the launch of a DEX called GAX to trade game tokens in the future. All of these reflect DeFi characteristics.

As can be seen, the NFT meta-universe accommodates chain games and more complex player interactions. Additionally, DeFi can facilitate the exchange and appreciation of NFT assets within the meta-universe.

Furthermore, BeepNews notes that the majority of NFT metaverses are “hybrids,” incorporating NFT trading, chain tour, and DeFi functions. Land auctions and leases have become the go-to method for many projects.

There are few projects that successfully integrate existing NFT small images and develop them into VR virtual worlds/metaverses. These projects benefit from enhanced technical capabilities and a broader community base. The Sandbox, Decentraland, Cryptovoxels, Worldwide Webb, NFT Worlds, Atlantis World, and Aavegotchi are just a few of the projects covered by BeepNews statistics.

NFT-Fi, PFP embedded in DeFi Lego By far the most actionable PFP application scenario is NFT-Fi. BeepNews discovered through statistical analysis that NFT-subdivided Fi’s functions fall into four broad categories.

One, leasing NFT assets, which may include meta-universe real estate, equipment, and NFT avatar use rights.MadCanner Picture

Double is the NFT leasing program’s representative, and the APP already supports the leasing of Decentraland plots and properties. Users can refine their search for virtual land and properties by specifying a lease period, a price, a category, a location, and a size.

Second, non-financial transactions (NFT) or NFT fragments of transactions, pledges, and farming.

Fractional, NFT20 are examples of attempts at NFT fragmentation. For instance, a user pledged 22 Cyberkongz NFT on NFT20 and received 2200 KONZG20 tokens; each KONGZ20 token represents 1/2200 NFT; these KONGZ20 tokens can also be traded and farmed on Uniswap.

To address the issue of lost or unrecoverable NFT fragments preventing NFT from being reorganized, Fractional also proposes the Buyout Auction (Buyout Auction) model.

Third, obtain loans through the pledge of NFT.

Consider the Loan Bundle 19 on Arcade. User A pledges BAYC #4743 and submits a loan request for 180 WETH at an annual percentage rate of 18.25 percent and a term of 90 days.

Assume User B accepts this offer and lends money to User A. Then, at the end of 90 days, if A can return the 180 WETH principal and pay the 8.1 WETH interest on time, he will receive BAYC #4743. Otherwise, User B’s name will be assigned BAYC #4743.

Due to price volatility, the NFT loan market frequently sees underlying assets liquidated. Additionally, platforms such as X Carnival have a dedicated market for liquidated NFTs, which enables users to pick up the slack.

Fourth, crowdfunding for the purpose of purchasing NFTs, as well as loans for the purpose of purchasing NFTs.

Bridgesprit enables users to form small groups to bid on NFTs, whereas the PINE project enables users to obtain loans in order to purchase NFTs first, and then releasing NFTs to their wallets once the loans are repaid.

There is no perfect solution to the problems of NFT pricing, price volatility, and liquidity fragmentation in the crypto world, which results in a delay in finding an outlet for NFT financialization to explode. However, numerous attempts have been made. These difficulties may be resolved in the future by a few hundred, or even a few dozen, lines of code.

In the real world, physical assets (non-homogenized assets) are just as important as cash and stocks in financial markets (homogenized assets). We should also believe in the potential of NFT-Fi in the crypto world.

Proof of Interest in NFT+, PFP as a Club Pass, and the Web3 Social Portal

Bored Ape Yacht Club is the only project in the crypto world that fully utilizes the NFT Club Pass functionality.MadCanner Picture

By airdropping mutant ape serum, BAKC, and APE to BAYC holders and granting them access to Bored Ape T-shirts, Apefest, and real yacht parties, BAYC has developed a thriving community and established itself as the most reputable project in the NFT market.

Additionally, in the Web3 social scene, projects such as POAP issue NFT badges to users who engage in specific on-chain activities, making NFT an excellent user classification tag.MadCanner Picture

For instance, the RabbitHole Adventure badge denotes users’ acquired skills and knowledge. On the other hand, Project Galaxy’s airdrop for GAL can be tailored to users who hold specific NFTs.

Concluding

NFT’s value will not be sustainable if its development is solely based on storytelling and the hope of striking a chord with a particular social group.

NFT as exhibits in a virtual gallery, NFT as incarnated equipment items in a meta-universe, NFT as DeFi elements, and NFT as proof of entitlement may be four critical paths for the further development of PFP projects.https://discord.com/invite/Wduk7zNjPM

[fsdjfls]

NFT Quick Start Guide: 20 Important NFT Terms and “Blackspeak” MadCanner NFT Quick Start

It’s been a year since Beeple sold his $69.3 million NFT, and in that time, the technology has progressed from “obscure” to “up and coming” to “mainstream.” NFT has progressed from “obscurity” to “emergence” and now to “mainstream” in less than a year. MadCanner NFT Quick Starthttps://discord.com/invite/Wduk7zNjPM

The entire world appears to be participating in this crypto boom, and the NFT market is gradually returning to rationality and maturity following its initial chaos, while the market’s vitality continues to attract an increasing number of crypto newcomers. However, given the rapid development of NFT, many NFT “whites” may struggle to keep up, or may even become confused.

As a result, today’s article will introduce you to twenty common NFT terms; after reading this, you will quickly advance! Together, look down.

NFT 01.1:1

Additionally, you can say 1/1 or 1 of 1, as this type of NFT exists only once and is therefore unique.

In other words, a single 1/1 NFT can only be owned by one person. If I possess it, you will not possess it, and if you possess it, he will not possess it.

For instance, Beeple’s Everydays: the First 5000 Days is a 1:1 NFT; due to its scarcity and uniqueness, this type of NFT is typically more expensive.

Ocean Front, Beeple, 1:1 NFT MadCanner NFT Quick Start

02.10K undertaking (10K project)

Typically refers to an NFT project with 10,000 unique avatars; each image in a 10K project is unique and has its own characteristics. We are aware of Bored Ape Yacht Club (BAYC) and CryptoPunks (CryptoPunks), both of which are ten thousand dollar projects.

It is worth noting, however, that as NFT projects evolve, the term “10K projects” does not necessarily refer to the number of such projects that total 10,000, but also to this type of NFT project, the number of which may not always equal 10,000.

03.Project PFP/Avatar

PFP stands for Profile Pics, i.e. a collection of multiple avatars (virtual images), also known as avatar type NFT. Typically, a 10K project is also a PFP project.

Clone X is a PFP project by RTFKT studio and artist Takashi Murakami.

04. Aeroplane (Airdrop)

Originally, the term “airdrop” referred to a feature on Apple’s cell phones that enables users to quickly transfer data, pictures, and other content between them. Airdrop is a term used in the cryptocurrency world to refer to the free distribution of cryptocurrency or NFT to individuals by platforms or organizations.

Airdrop is the Chinese term for what we commonly refer to as “airdrop.” On various NFT platforms, we can see that many platforms will occasionally host NFT airdrop activities, during which users can receive an NFT for free by performing certain operations in accordance with the activities’ specified contents.

05. (casting)

Mint is also referred to as casting. NFT is a type of digital asset that is stored on the blockchain. “Mint” also refers to the digital file that is created during the process of creating NFT digital assets.

While NFT is based on digital files, not all digital files are compatible with NFT. The “mint” process can also be referred to as the “chain” process, as all of the data contained in the digital file will eventually be recorded on the blockchain.

06. Incinerate (destroy)

The antonym of Mint is the term Burn, which refers to the act of destroying NFT. If you decide that you no longer want your NFT or an NFT project after the remaining unsold NFT has been sold officially, the project developers may choose to destroy the remaining unsold NFT.

Or perhaps an NFT project using the “new equipment,” allowing the holders of the original NFT to destroy the original NFT in order to “upgrade” to the “new equipment” NFT.

For example, the sports brand Champion previously launched digital apparel, which was distributed to 888 randomly selected holders of the NFT program Non-Fungible People. These recipients were given the option to “upgrade” their NFTs, which required them to destroy their original NFTs and recast them. The “upgraded” NFT will feature a new image of Champion dressed in a digital costume.

Upgraded NFT dressed as a champion

07. Gasoline Tax (Fuel Fee) MadCanner NFT Quick Start

The Gas Fee, alternatively referred to as the “fuel fee” or “petrol fee,” is a fee that must be paid to the blockchain network in order to conduct various transactions.

Whether you are minting, buying, selling, or destroying NFTs on the blockchain, you require computing resources to do so, and thus must pay a Gas Fee to the blockchain network’s “miners” in order for the “miners” to perform a specific operation. Additionally, this is referred to as the “miner’s fee.”

The fuel fee is proportional to the amount of traffic on the blockchain and the size of the NFT, and will be higher if the network is congested or the file is excessively large.

The fuel cost varies by blockchain; for example, because the ethereum network’s fuel cost is so high, an increasing number of people are switching to other blockchains. For example, Solana is an emerging public chain with extremely low transaction fees when compared to ethereum.

08.Gas Conflict

Gas wars occur when the demand for casting the same project exceeds the capacity of the blockchain network to handle in a single block/unit of time; that is, when an NFT project is snapped up by a large number of people at the same time, the higher the fee is to obtain the casting opportunity faster, which increases the gas fee of the entire blockchain network in order to obtain the NFT you desire; this is what a gas war is. war.

Generally, this situation occurs more frequently in the more popular NFT projects, so you may be unable to grab if you only prepare “just right” funds.

In China, the situation is different; in general, NFT’s offer price is how much, and we can purchase at that price, except when it comes time to compare hand speed and Internet speed.

09. Minimum Floor Price (floor price)

The term “Floor Price” refers to the floor price, or the lowest price. As the term implies, the floor price refers to the least expensive NFT in an NFT project.

For instance, the floor price of Bored Ape Yacht Club on OpenSea at the time of the researcher edit was 110.69 ETH, or approximately $360,000 for Bored Ape №7656.

ten (White List)

This is comparable to the list of some of the NFT platforms that have been launched in China. order of precedence.

Therefore, how do I join the whitelist? In general, each project has its own set of whitelist rules; all you need to do is identify projects that have not yet begun or will soon begin and become an early follower, join the project’s official community, and adhere to the project’s rules to earn whitelist qualifications.

11. Disagreement

DC is a community-based communication platform; many NFT projects will establish an official Discord community.

12.FOMO

FOMO, or Fear of Missing Out, is a term that refers to the fear of missing out on something. In the field of NFTs, this means that people are afraid of missing out on popular NFTs.

13.Ape

While we may associate Ape with Bored Ape, this phrase actually refers to the act of purchasing NFT in a hurry without conducting adequate preliminary research on the NFT project. This type of behavior is actually associated with FOMO emotions.

14.DAO

DAO is an acronym for Decentralized Autonomous Organization, which literally translates as “Decentralized Autonomous Organization.”

A DAO is an organization led by a group of individuals who lack traditional corporate leadership experience and who establish their own rules and make decisions using blockchain-based smart contracts. Individuals with similar interests and goals form a community, which manages the organization’s operations and makes decisions from the bottom up via voting.

At the moment, an increasing number of NFT projects have their own DAO; for example, the NFT project Meebits has its own DAO, which was established by members of the Meebits NFT project community. The community’s objective is to create a meta-universe for these avatars using the MeebitsDAO. To accomplish this, the organization will use all funds raised to acquire virtual lands across multiple metaverses.

P2E

This is an acronym for play-to-earn, which refers to the increasingly popular “earn while you play” model in the gaming industry. Axie Infinity is one of the earliest and most popular P2E games, affectionately dubbed “Crab” by domestic players.

16. Rug yank MadCanner NFT Quick Start

In NFT, it primarily refers to developers of NFT projects abruptly abandoning the project and withdrawing investors’ funds without warning.

Recently, a rug pull scam occurred. The promoters of the United States-based “Frosties” project earned approximately $1.1 million from the sale of the project’s NFTs, but quickly shut down the project and transferred the funds to a series of separate crypto wallets, rendering the project incapable of meeting its initial reward promises. As a result, two of the project’s promoters were also arrested by police.

17. Itinerary

In the NFT space, a roadmap is a collection of ad hoc projects aimed at adding value to a community. They are typically associated with PFP projects, and many popular NFT projects have their own proprietary roadmaps.

The Bored Ape Yacht Club has published a road map.

Art that is generated

This is the art of algorithmic generation, and many of the most popular 10K projects fall into this category. By infusing the project with uniqueness via algorithms, various features are randomly combined to create an NFT ensemble with unique properties, such as BAYC and Cool Cats. Another example is the Chromie Squiggle series of projects, which is a generative NFT project in its own right.

#1696 Chromie Squiggle

IRL

This abbreviation stands for “In real life,” in contrast to the virtual world, which refers to the real physical world in which we live, and IRL is frequently used in contexts involving NFT.

Whale 20. MadCanner NFT Quick Start

A Whale is an individual who has a large sum of money to invest or who has invested in a large number of NFT projects and owns multiple NFTs. Whales will purchase or sell large quantities of a particular collection, thereby driving the market in either direction, and many people will monitor the Whale’s wallet to see what they purchase or sell next as a barometer of their future investment decisions.https://discord.com/invite/Wduk7zNjPM