Xiaohongshu has also entered the NFT, what is the difference between Tencent and Ali?

The Metaverse is in full swing, driving the development of many related industries. At present, the one closest to our lives should be NFT.

Through blockchain technology, every work and every transaction can be recorded, which eliminates the copyright problem of works in the art field to a certain extent, so digital art is gradually flourishing.

In the current domestic market, in addition to Ali and Tencent, Xiaohongshu has also begun to get involved in NFTs, and launched the digital art platform R-SPACE in November 2021. Not long ago, Xiaohongshu released dozens of digital collections in R-SPACE, called "R-Digital Collections".

▲ Picture from: Xiaohongshu

R-SPACE is used as a space for displaying R-digital collections in the personal center of Xiaohongshu. After the user obtains the R-digital collection and agrees to open a digital collection account, the personal homepage will open the function of R-SPACE. In it, you can display and share collections, share collection posters with the user's unique attribution information, and download and save high-definition graphic materials.

▲ Picture from: Xiaohongshu

Conceptually, NFT is a non-homogeneous token in the blockchain network. Digital collections can be said to be the evolved product of NFT and have a unique blockchain number.

According to the information displayed in the R-Digital Collection Guide of Xiaohongshu, R-Digital Collection represents the originality of the work and the unique ownership right that cannot be tampered with. The corresponding number on the blockchain of each digital product corresponds to the unique proof of rights and transactional relationship. These digital collections have a unique number on the Tencent Zhixin Chain, which cannot be tampered with. The unique serial number on the chain publicly records the creation, deposit, transaction, ownership and other related information of the work.

▲ Picture from: Xiaohongshu

Generally speaking, digital collections are online digital certificates, but the digital collections released by Xiaohongshu on R-SPACE this time are a bit different, with the words "including physical goods" on some product pages. In other words, in addition to having digital collections online, users can also receive physical objects of the same style offline. Compared with digital collections issued by other platforms, R-digital collections have richer playability.

▲ Picture from: Xiaohongshu

The reason why NFT can quickly become popular is that in addition to its uniqueness, its social attributes cannot be ignored. Having unique NFT works can not only satisfy people's personalities, but also represent their own assets and a certain identity, such as the NBA star library. The "Boring Ape" bought by Li at a huge sum of money is used as a social software avatar, and Tencent's 23rd anniversary commemorative NFT digital collection.

▲ Picture from: Twitter

▲ Picture from: Sohu

Xiaohongshu is a unique and rapidly developing social software in the domestic market. It also has the attributes of e-commerce and has the natural advantage of issuing digital collections. Incoming NFT may enrich the way of interaction between users in the future.

▲ Picture from: Xiaohongshu

It is worth mentioning that the Xiaohongshu Hot Neutron Studio, which built R-SPACE, will soon launch an AR function to project digital collections into the real world, and will plan more personalized functions in the future.

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