Regarding this article, the most impressive sentence is“NFT is waiting for its Moses, rewriting an Exodus”, I recommend everyone to check it out.
It is precisely because of this article that Daren temporarily initiated this dialogue. During the interview lasting more than two hours, Xu Zhihong focused on“Who can lead NFT out of Opensea”In this topic, we share our views on the NFT market and look forward to the future.The core points are as follows:
1. In addition to land, ENS is the core NFT, and other domain names are also worth starting.
2. The gameplay of head portrait NFT is similar to MEME, but the liquidity is not good, and it is already suspected of spreading flowers by drumming, so be careful.
3. To participate in Opensea, you must understand that the high probability will return to zero, which is 100 times greater than the risk of investing in Bitcoin or even MEME coins.
4. NFT is the innovation center of the entire blockchain, and almost all capable teams are trying to enter this market.
5. NFT is essentially more diverse people into the Crypto world, which is the huge value of NFT.
6. Whoever can make good use of Cryptos weapons may be able to get a share from Opensea; the platforms provision of new trading scenarios is a big event this year.
7. In the era of Web3.0, NFT can play a greater role, and your previous NFT investment will unlock a new world for you in the future.
8. It is an industry practice that all NFT projects should issue tokens. Artblocks is a gold-lettered signboard. If tokens are issued, there will be a simultaneous listing of coins on the entire network like ENS.
9. The valuation of NFT today is trapped in the valuation of Opensea. If it succeeds, the opportunity of x10 will come.
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Part 1: 4 favorite NFT projects
talent:Our topic today is NFT. Let me ask a gossip question first. Which NFTs does Xu Da currently hold? Which project do you like the most?
Xu Zhihong:Personally, I have always been very optimistic about Decentraland. Even though Sandbox is very good at operating today, it still cannot change the position of the first benchmark of Crypto Land in my heart. It belongs to Decentraland.
The first category is basically land. Unlike many people, Im not very involved in avatar projects. There are 4 land projects that I prefer at present, referred to as DSCW:
——Decentraland is the standard setter of the blockchain land, and it is also the earliest. Many people like to call it MANA;
——The background of Sandbox is a game, and it is very popular at present, and it is also the most optimistic about the market, and the popularity is also the highest, but the land is continuously issued;
——CryptoVoxel is more accepted by artists and blockchain subcultures. I really don’t like its art, but I know some people like it, so I also buy it;
- W is a relatively new project: Worldwide Webb. This one has game attributes and is more open.
In addition to land, I personally think ENS is the core NFT. Dont think it is a domain name, including domain names of ENS, DAS and other chains. I think it is also an NFT worth buying.
Finally, let’s talk about avatars. I think the current market is too brainless and the prices are too high. The gameplay is similar to a meme, but the liquidity is not good, so I don’t recommend everyone to make avatars. At present, because avatars have a profit-making effect, those who come in to make avatars are aimed at selling works, and have no intention of continuing operations, so I cut down the entire field Lost.
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Part 2: Opensea to BitcoinTalk
talent:In Who can lead NFT out of Opensea? In the article, Xu Da compared Opensea today to BitcoinTalk 12 years ago. This is just the starting point of NFT, not the end. For many old people in the currency circle, this metaphor is not unfamiliar, but for many friends who are new to the circle, BitcoinTalk is a bit unfamiliar. Can you briefly introduce BitcoinTalk in your eyes? Why do you make this metaphor? Where is the end of NFT?
Xu Zhihong:It is a forum where the earliest players of Bitcoin gathered. A similar product appeared in China is Babbitt Forum, which was born in 2012. In short, all their imaginations about Bitcoin at that time were very different from what everyone imagined, and most of the practices failed.
Therefore, to participate in Opensea, you must understand that the high probability will return to zero. This is 100 times greater than the risk of investing in Bitcoin on an exchange or even buying a meme coin, because Bitcoin has a perfect scenario - continuous bidding transactions on exchanges, but NFT has not so far, so the risk has become huge.
If you know youre consuming NFTs, thats not a big deal. If you think youre investing, chances are most will lose money.
Most of the participants in BitcoinTalk failed to hold Bitcoin. The little brother who was the first to exchange pizza for 10,000 bitcoins sold them all when the bitcoins were 40 cents.
I think some typical assets on Opensea can be bought, such as the land mentioned at the beginning. The avatar is already suspected of spreading flowers by drumming, especially expensive avatars, so be careful.
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Part 3: Why is the NFT market so hot?
talent:Recently, despite the sluggish market, the NFT market has been extremely lively, especially driven by Boring Ape, various monkey projects have become popular, and Opensea has become a mountain of flowers and fruits. In your opinion, why is the NFT market hot again recently? Behind the excitement, what risks need to be vigilant?
Xu Zhihong:NFT is the innovation center of the entire blockchain. Three years ago, this innovation center was in the exchange, and now it is in NFT. Almost all capable teams are trying to enter this market.
Everyone knows that Opensea will go to the capital market and may no longer issue tokens. This is like Huobi, which went public in Hong Kong, and will be far behind by Binance. The problem now is that Opensea is a giant, but it has fatal flaws. Everyone wants to be Binance.
Back to the popularity of NFT, traditional blockchain assets are three things: a chain, a platform for making money, and a smart contract. An example of a chain is Bitcoin, Litecoin; an example of a money-making platform is BNB, FTT; an example of a smart contract is AAVE, ENS, UNI.
These three things have nothing to do with the vast majority of people and institutions in society, so most people cannot participate except for speculative transactions. NFT is essentially more diverse people into the Crypto world, which is the huge value of NFT.
A few years ago, when we talked about STO, this road did not go through, but CityDAO made it through NFT.
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Part 4: Who is Binance in the NFT world?
talent:There are actually quite a few NFT platforms that have not yet issued tokens. What kind of platform is expected to become Binance in the NFT world?
Xu Zhihong:There are too many, I personally have path dependence, and I think it will be an off-chain continuous bidding transaction matching platform like Mt.Gox.
However, the current product managers of major exchanges can be sure that they have never played NFT, and their current products have not created a scene, so the off-chain platform still cannot see it.
There are many platforms on the chain. Element has recently released the BSC version, and LooksRare will be launched soon. I think these platforms have a lot of room for improvement. Whoever can make good use of Cryptos weapons may be able to get a share from Opensea. In the past two days, I have seen that LooksRare seems to have made some innovations in quotations, and I think it is still very meaningful.
I am actually just a consumer myself, and I always think of Opensea as Amazon. Today, I personally think that the biggest opportunity is to bring scenes, such as buying an NFT music when listening to music, buying an NFT skin when playing games, not naked chat when chatting, buying an NFT avatar...
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Part 5: Are fragmented NFTs reliable?
talent:Behind the fiery NFT market, liquidity is the biggest hidden danger. Once the consensus collapses, sky-high NFT prices may return to zero overnight. At present, the solution to NFT liquidity in the industry is mainly through fragmentation, but combined with the performance of several fragmented NFT projects, it is often not satisfactory. In your opinion, fragmented NFT value is not worth participating? Is fragmentation the main way to solve NFT liquidity in the future?
Xu Zhihong:Fragmentation is a general concept. I cant accept fragmentation of a certain punk. I prefer to see products like AMM appear.
NFTX is currently working on an NFT liquidity pool, which is very interesting. I think this direction is correct.
If any platform under the chain can reduce the cost of NFTX experience, I think there is a lot to do. Problems are solved by people, and liquidity in the early days of Bitcoin was terrible. This is the question at the core of my article yesterday. The method of AMM can be made so big, and NFT can definitely find a way. If this problem is solved, NFT will welcome
Come for the first pump. Talking about fragmentation today, I think it is too absolute. Any method to improve liquidity is right. Continuous auction trading is done by Mt.Gox, and AMM is done by Uniswap. We are not limited to the method.
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Part 6: Is there a game for NFT leasing?
talent:After reading Xu Da’s article this morning, I happened to see an article by Bitui: The Next Blue Ocean Track: NFT Leasing On-Chain Landlords. The article imagines the future form of NFT consumption - renting instead of purchasing, especially some high-priced NFTs, which not only solve the problem of insufficient liquidity through leasing, but also continue to generate value, and also meet the needs of ordinary investors to hold sky-high NFTs.
Is Xu Da optimistic about NFT leasing? Boldly imagine, will there be an Opensea NFT rental market in the future? Or, is it possible for Opensea to launch an NFT rental business?
Xu Zhihong:I think the leasing market will definitely appear, but I am optimistic about the lending platform where NFT is used as collateral. I remember that AAVE has plans in this regard.
Real estate all over the world is illiquid, but it is the biggest collateral, so liquidity is not a prerequisite, and financing needs are clear. The lending market will definitely rise this year (maybe called NFTfi), and Defi2.0 is so introverted that it will definitely overflow into the NFT field.
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Part 7: Do you want FOMO?
talent:Yesterday, a friend who has never been optimistic about NFT asked me for advice-although I don’t believe in it, but if I don’t participate, I will miss out. This actually represents the mentality of many market participants at the moment. How does Xu Da feel about the current FOMO sentiment? Under the NFT craze, many friends are whitelisting and staying up late mint. What advice do you have for these friends?
Xu Zhihong:The risks of NFT are obvious. Some rational people will not participate in liquidity, but this is exactly what a new species should look like. It gathers all innovations and makes people excited.
The Pixls I used started claiming the car yesterday, and everyone was very excited. Users are witnessing the growth of a blockchain project, just like people on Bitcointalk, full of unknowns but curious. Therefore, this kind of pleasure cannot be felt by people who have not participated.
I think in the era of Web3.0, NFT can play a greater role. Orange Book published my article yesterday, and this article was posted on Mirror.xyz, and I felt very ritualistic. It is conceivable in the future that an article can be traded. Those genius ideas or texts should become collectibles. I think this is the most attractive part of NFT.
Another thing is that Uniswaps user experience is difficult for ordinary novices to participate in, but buying a little monkey on Opensea has driven more people to use private keys. I think it is a historical achievement of NFT to help everyone complete onchain literacy, so it is worth paying some costs, and if you lose money, you will pay tuition.
Let me give you another example. Illiquidjpegs collects zeroed NFT online, and you can use the zeroed NFT to win platform coins. The more you lose, the more you earn...
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Part 8: Will NFT repeat the MEME script?
talent:If you refer to the MEME market last year, Dogecoin triggered a strong FOMO sentiment, prompting investors to turn their attention to other animal coins, and finally created a magnificent animal currency market. Inverting the NFT market, CrypoPunk and Boring Ape have become games for big players, and most participants are discouraged, so they turn their attention to some low-priced concept derivative projects. According to your speculation, will the NFT market repeat the script of the MEME market? Why?
Xu Zhihong:I don’t think so, Opensea is still in the Bitcointalk stage, and projects like Boring Ape will continue to pop up. I will give you Amway a product that discovers on-chain data and Twitter data. You can try to register for the whitelist:
https://twitter.com/MetascanPro
Users of these products will implant NFT gameplay. It can be said that the smartest minds in the entire market are in the NFT field, not only adidas, dont simply look at the project repeatedly.
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Part 9: Should NFT projects issue tokens?
talent:An interesting phenomenon has also been observed recently. Some mature coinless NFT projects in the community will issue tokens through GameFi and other forms in 2022, including Boring Ape, Chunky Penguin, etc. Some emerging NFT projects also promise to hold NFT. Tokens issued in the future. Is the issuance of NFT projects a trend or a gimmick? Is the token of the NFT project worth paying attention to?
Xu Zhihong:Definitely. All NFT projects should issue tokens, which is already an industry practice, not an innovation. The NFTs I introduced at the beginning today all have tokens.
Few people have bought the land in Decentraland, but MANA has allowed many people to make money; the token of Sandbox was first launched in Binance IEO, and the increase is also very good; this year, CryptoVoxel will also issue tokens in April. These are normal, and the same is true for ENS. It is ineffective not to issue tokens. Therefore, most of the leading NFT projects will have tokens.
Artblocks, the hottest art NFT sales platform, has a high probability of issuing tokens this year. Many people want to participate. You can bet that Artblocks will issue tokens this year. After all, this is the category with the largest trading volume on Opensea.
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Part 10: Who can lead NFT out of Opensea?
talent:Finally, back to the topic of this dialogue - who can lead NFT out of Opensea? Regarding this issue, Xu Da mentioned it briefly in the article, and at the same time said that NFT is waiting for its Moses to rewrite a book of Exodus... So, where is Moses?
Xu Zhihong:I think Web3.0 products with more new scenarios, or NFT trading platforms matched under the chain, are all possible. Opensea, which has only 800,000 users today, is just the most primitive Bitcointalk. I think sending NFT to 50 million people will be NFT Summer!
The valuation of NFT today is trapped in the valuation of Opensea. If it succeeds, the x10 opportunity will come.
Reminder: The above opinions only represent the position of the guests, and the projects mentioned in the dialogue do not constitute investment advice
