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
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2011_ ART AND TRANSMISSION by Michael Sanchez - artforum.com _ in print
The dramatical change has occurred throughout the Art world. The change of the maker(artist), the distribution(dealer,curator), venue(gallery) and also the customers(viewers). It’s because of the innovation, called the iPhone.
“The function of the biennial format has clearly become more mnemonic than predictive, more a retrospective than a preview. Art is no longer discovered in biennale and fairs and magazines but on the phone. as the Whitney Biennial demonstrated in 2012.
Since now it is so normal to receive art through the screens of the phone, there are trends in the makings in the art that fulfills this contemporary conditions. In painting the unsaturated pastels, off-whites, and especially grays started to impact the scene. They are called as “anti-gestural” or “Subtractive”. In sculpture, the surrealist object has returned. Juxtapositions are made in hues and adopts light from neon. This is called as “Post Net” art or “meme art”.
Our present, specific media condition. evokes a visual trend that is artworks that are purposely made to be catching on the screen.
Since the dealers or curators and moreover the viewers are now using this specific media, the works functions as a kind of meta site-specific idea. That considers the screen itself as a metaspace.
Since the phone is the new technology that again, brings the exhibition value.
And moreover, now there are fainted boundaries among the environment of the art world.
Because they are sharing the same element to visualize and perceive art. which is the phone.
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