This year’s hot meta-universe has made the closely related NFT (non-homogeneous tokens) also rise. If you own an NFT work, your ownership of it has been written on the underlying blockchain. And then the ownership change record of this work will be written on the blockchain, open, transparent and unchangeable.
This unique and inseparable characteristic of identity, coupled with the mode in which creators can profit from every ownership transfer in NFT transactions, makes many people interested in Metaverse hope to have their own NFT products.
▲BAYC work, picture from: OpenSea
With so many interested people, it represents a huge market. In this market, which is still regarded as a blue ocean, it will naturally attract countless people. NBA star Curry bought a Bored Ape Yacht Club (BAYC) NFT work for about US$180,000 and used it as his social media avatar. Among the skyrocketing avatars that have been "fired", it is not difficult to get a glimpse of the NTF market. Great potential.
▲Picture from: Twitter
Many new things are always accompanied by plagiarism and "chaos" of copycats at the beginning, and NFT is no exception. Coupled with the convenience of using the Internet and the unique characteristics of each work, it becomes more difficult to protect the creation results.
Take the "boring ape" Bored Ape Yacht Club (BAYC), which is now extremely popular in the NFT market. Two outrageous "counterfeit products" quickly emerged on the NFT trading platform OpenSea: PHAYC and PAYC (Phunky Ape). Yacht Club).
▲PHAYC works, picture from: cnBeta
Not only are the names identical, these two NFT series works are just a mirror-inverted image of BAYC from the screen. What's more interesting is that these two copycats "Li Gui" also debated on social media, "Who first started to counterfeit BAYC and who is the real counterfeit". In the dispute, the founder of PAYC also stated that PHAYC is a "cash fraud project."
▲Picture from: Twitter
Even if it is counterfeit, these two NFT projects have received a lot of sought after. Although they were delisted by OpenSea not long after they were put on the shelves due to related rules involving violations of intellectual property rights, both of them were sold out a few hours after the release. According to platform data, the transaction volume of PAYC reached about 60 ETH, while PHAYC It reaches about 500 ETH (1 ETH is about 3,755.60 USD).
In the slightly absurd incident between PHAYC, PAYC and BAYC between "Li Kui" and "Li Gui", in addition to the popularity of NFT, it also reveals different ideas and attitudes in the NFT market. One of the members of PHAYC once said: "I think the NFT project is a satire on the current state of the NFT and the NFT community. They may be too serious about the NFT market."
It is true that there is still a long way to go for the meta-universe industry that has just started, and the NTF market also has huge potential, but the current "chaos" shows that the NFT is a bit overheated, just like a person who just learned to drive has stepped on it. The accelerator rushes forward, maybe at this time you should slow down and see where you should go on this new road that you haven't traveled before.
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