How can an antique “QQ avatar” sell for 45 million yuan?

In 2035, you will use a brain-computer interface to connect to the meta-universe "Paradise Island" jointly created by global technology giants. In the second phase of the virtual commodity house just completed, you will be interested in watching the most popular holographic appraising film " Make a treasure.

A holographic cartoon image of AI host Wang Gang stands in front of you and introduces the next treasure.

"The next treasure is from the hands of artist Qin3% in the Chaos Period of the Internet (2022), "Musk's Smile"!

"Musk’s Smile" is an NFT made with ancient GIF technology. It uses 256-bit color to restore the joyful moment of Musk’s landing on the moon. High historical value. "

These fantasies about the future sound absurd, but compared with flying cars, a virtual world composed of encryption algorithms may be closer to the real future.

"This world is crazy"

A year ago, if you talked to your friends about NFT, people might think that you were technologically blind, and they would kindly correct you: "The one you use on the subway is called NFC, not NFT."

One year later, NFT completely broke through the small circle of cryptocurrency and ranked among the top 10 PPT hot words list for technology companies and fast-moving brands.

This picture was the fuse that detonated the digital wave of "look down, unintelligible, and unable to keep up".

The author of this painting, Beeple, is a well-known digital artist. Since 2006, Beeple has completed an illustration every day and posted it on social networks. This "Everyday" project has not been changed until now.

Beeple stitched together the works of the first 5000 days to produce this "Everydays -The First 5000 Days", which was auctioned at Christie's auction house.

This is the first time this 250-year-old auction house has auctioned digital non-physical works, and the auction price is also the peak when it debuts-69.34 million US dollars (about 450 million yuan), which is currently the third most expensive among living artists. work.

"Everydays-The First 5000 Days" is different from the previous two works. The tens of millions of dollars is not a tangible painting, but a JPG image with a digital certificate, which is about 304.38MB in size.

▲ Translation: I can't understand, but I was shocked

The real money became a character flowing on the Internet overnight. It sounded very cyberpunk, the NFT art market was crazy, and even Beeple couldn't understand it.

These NFTs can be freely traded in trading markets such as Opensea. Walking into these trading markets is like walking into a sub-dimension culture and art museum. You can't understand their art, let alone their prices.

These 8-bit pixel images that look like QQ avatars are called CryptoPunk and are currently one of the most famous collections in the free market.

CryptoPunk is the name of a series of works. Each CryptoPunk is a 24X24 pixel image generated by an algorithm. There are 10,000 in total. The gender, appearance, dress and even species are randomly combined by the algorithm and are unique.

This difference is not only reflected in the vision, but also in the price-the more handsome and bizarre, the higher the price.

▲ There is only one human in the top 12, and the others are aliens, zombies and apes

These are the 12 most expensive pictures in CryptoPunk. The number #7804 on the top of the list is sold for USD 7.57 million. If you become one of these ten thousandths, the cheapest CryptoPunk will also cost $150,000.

According to statistics from DappRadar, the total value of the CryptoPunk series currently exceeds US$680 million.

▲ Jay-Z thinks this CryptoPunk is him

Just like "Everydays -The First 5000 Days", when you exchange a lot of banknotes for cryptocurrency and buy a CryptoPunk, then you will get the digital ownership of this picture, and then you can…use it as Your Twitter, Weibo, WeChat avatar.

If you have this picture, it will always belong to you. If you want, it will be your Avatar in this Internet world composed of 0 and 1.

Buy an avatar or rent one?

CryptoPunk, released in June 2017, was the first batch of NFTs on the Ethereum blockchain, developed by Larva Labs in the United States.

At the beginning of the release, they set the number at 10,000 (6039 males and 3840 females). Since the generation of CryptoPunk is based on blockchain technology, CryptoPunk has a digital scarcity that is different from other online pictures-each one is It is unique and unique.

The concept of "owning a picture" was still too advanced for the Internet at the time. Before the advent of NFT, the closest thing to this concept in the virtual world was digital copyright.

You can copy countless photos of #7804, or send it to your friends. These photos that look the same as #7804 are saved in your disk, but you never own it, you are just using it, even Maybe your actions are infringing.

From the point of view of digital collectors who agree with the value of NFT property rights, if you want to use an NFT, the best way is to buy it and use it as your own, followed by renting it.

▲ The "top card" being rented out

If you like CryptoPunk's images very much, but can't afford its expensive price, and don't want to bear the reputation of "theft", you can try CryptoPunk.Rent's rental NFT service.

CryptoPunk.Rent allows users to obtain a CryptoPunk short-term use right (up to 99 days) at a much lower price. During the rental period, you can use this punk head to surf the Internet to show your personality.

In addition to CryptoPunk, other NFTs can also be leased out through this concept.

▲ Each NFT is marked with rent and deposit

The reNFT platform is the first trading platform that proposes the concept of leased NFT. On the reNFT website, you can simply rent or lease an NFT, choose the lease time, pay a certain amount of deposit and rent, and you can realize the transfer of virtual assets.

However, this kind of leasing service also has great risks.

Since every transaction will be booked on the blockchain, the NFT rented out is actually attributable to the tenant. If the value of the NFT rises sharply during the rental period, or even exceeds the amount of the deposit, if the tenant does not return it, no one can Help you find your beloved digital collection.

This means that while enjoying the convenience of decentralization, you also have to bear its risks.

With unique certificates, tradable and even leaseable, virtual NFTs have been given more and more substantial significance, but all these discussions are based on a pre-determined factual premise: recognition of the ownership of digital collections.

If you insist on setting a "copy of #7804" as your avatar, in fact, no one will bother you.

A knowledgeable person may know that you are not the owner of this valuable picture, but what does it matter?

This is also the next question that NFT needs to face: I have it, then what?

The best solution at present is to build a Metaverse (meta universe) to allow people to place these expensive collections. Before that, it was difficult for NFT to establish a consensus of value recognized by the public. It was a bit like the fanatical Netherlands in the 16th century. Tulips in human eyes are beautiful, attractive and fragile.

NFT floods digital art?

The explosion of cryptocurrency has given birth to a group of invisible "online rich people" who have the same investment and financial needs as real rich people, but they use a string of character codes.

The digital scarcity of NFT has made many people realize the significance of digital art collection, and digital art has ushered in an explosion.

The success of CryptoPunk has allowed many "artists" to see the NFT wealth code: individuality, randomness and uniqueness.

For example, Bored Ape Yacht Club (Bored Ape Yacht Club) is a more successful series of NFT works after CryptoPunk.

▲ Price unit: Ethereum

It is also produced with the concept of limited 10,000 and each with a random appearance. At present, the price of such a personalized "ape" in the secondary market has reached tens of thousands or even hundreds of thousands of dollars.

However, as the market value of these popular NFTs skyrocketed, the "digital art" story that NFT wanted to tell began to change.

▲Is scarcity the value?

The successful models of CrtptoPunk and BAYC have been imitated by more and more people, and there have been many similar works. There is no avoidance of imitating the former in terms of visual presentation and naming. It is not so much a work of art, as it is a product built according to a successful model. .

NFT makes it easier than ever to collect artworks. Everyone can make their own photos and videos into NFT, but it also blurs the boundaries of art.

What kind of NFT can be called a work of art? Which currency system is used to determine the collection value of a work of art? No one can give an exact answer yet.

To be sure, it is too early to use NFT as a stable investment in art to replace real financial investment.

Higher, higher.

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