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4D NFT market report, let’s find the next Opensea together

星球君的朋友们
Odaily资深作者
2022-02-01 05:24
This article is about 16376 words, reading the full article takes about 24 minutes
This article objectively shows the status quo of the NFT trading market and contains a variety of NFT market observation tools.
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This article objectively shows the status quo of the NFT trading market and contains a variety of NFT market observation tools.

foreword

foreword

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Figure 0-1 Development path map of NFT trading market

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1.1 What is an NFT trading platform

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1.2 Why the NFT trading market is important

As of January 2022, the cumulative turnover of NFT projects has exceeded tens of billions of dollars. It has become the same as Defi, Gamefi has a similar status in the encryption field, and it is a new popular track that gives vitality.

According to the statistics of Dappradar, as of 2022-01-18, Axie Infinity ranked first in the cumulative turnover of the NFT market, with a total historical transaction volume of 3.81 billion US dollars. The second to fifth projects were Cryptopunks, Art Blocks, Bored Ape Yacht Club and NBA Top Shot, Top5 have a combined market share of more than 50%.

With such a huge amount of transactions and funds, how to ensure the integrity and security of the transaction process, achieve the purpose of increasing liquidity, and at the same time expand the development of the NFT field has become an important issue.

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2.1 OpenSea

Introduction

Introduction

OpenSea It is currently the largest trading platform for NFT collectibles, known as the "eBay" of NFT. OpenSea's transaction volume on Ethereum accounts for about 98% of the market transaction volume, and is the most important part of the NFT ecosystem.

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Figure 2.1-1 OpenSea official publicity map

Development roadmap (big event)

  • In 2017, the domain name of the official website was registered asOpensea.io 。

  • In February 2021, the transaction volume reached more than 90 million US dollars, a 10-fold increase from the 8 million US dollars in January, and some scarce NFT assets even achieved a single-day increase of 30 times, which shows the degree of popularity.

  • From 2021 to the end of June, OpenSea will be connected to the Polygon network, which means that users can participate in OpenSea NFT generation and transactions through Polygon.

  • 2021-09, OpenSea released its own Android and iOS mobile applications.

  • In the middle of 2021-11, OpenSea has become the latest unicorn in the cryptocurrency industry with a valuation of over US$1.5 billion.

  • 2021-12-13, the latest data shows that the total transaction volume of the NFT market OpenSea has exceeded 13 billion US dollars, a record high, ranking first in the NFT market transaction volume.

  • According to data from Dune Analytics, as of 2022-01-25, the transaction volume of this market exceeded US$4.77 billion, a year-on-year record of US$3.42 billion in 2021-08, an increase of 38.35%.

Project party introduction

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Investment agency

data analysis

data analysis

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Figure 2.1-2 Line chart of NFT trading market share, sourced from Dune Analytics data statistics website

2022-01-10,image description

Figure 2.1-3 Opensea daily trading volume bar chart, sourced from Dune Analytics data statistics website

Advantage

Advantage

  • One-stop trading platform

  • Minting NFT free of gas fees

  • Simple operation and low barriers to entry

  • disadvantage

disadvantage

  • network congestion

  • high fees

  • Users cannot share the platform development dividend

  • The community structure is disordered, and user stickiness is not high

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2.2 LooksRare ($LOOKS)

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Introduction

Introduction

LooksRareFounded in August 2021, it aims to become a complete NFT trading platform that belongs entirely to the community. It's still early days. The project team has a total of 12 members. Currently, the real identities of the team members and other information have not been disclosed. It is claimed that LooksRare does not have any institutional investors. The purpose is to maximize the return of the platform token LOOKS to various communities through a series of methods such as airdrops, transactions, and pledges. . In January 2022, LooksRare officially released the NFT trading platform, benchmarking against OpenSea. Once listed, it quickly seized part of the NFT trading market with a daily trading volume of more than 394 million US dollars. Issue token Looks, a total of 1 billion pieces.

Development roadmap (big event)

  • cause:

Because OpenSea, the leader of the NFT trading market, has no plans to issue tokens, and it is rumored that it will announce an IPO, turning the joint efforts of Web3 users into a cake for Web2 residents to share. The community began to switch target markets hoping to find a decentralized project to compete with OpenSea.

  • develop:

On January 10, 2022, the community-led NFT market "LooksRare" was officially launched and the official token LOOKS was launched.

On January 12, 2022, its daily transaction volume exceeded 275 million US dollars, surpassing OpenSea's transaction volume (122 million US dollars). (See Figure 2.2-3)

As of January 20, 2022, according to the Duna Analytics data report, the average daily transaction volume of the LooksRareNFT trading platform from January 11 to January 20 is around 200k ETH, surpassing the total volume of Ethereum OpenSea. (See Figure 2.2-4)

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Figure 2.2-3 Comparison of the number of transactions in the NFT market, sourced from the Dune Analytics data statistics website

Project party introduction

Investment agency

Investment agency

data analysis

data analysis

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Table 2.2-2 LOOKS Token Distribution Details

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transaction mining

  • transaction mining

The transaction mining incentive is very high, as high as 44.1%. Use the top image of the official tweet to explain: the user spends 91ETH to buy an NFT. On Opensea, the monkey only completes a change of hands; while on LooksRare, in addition to getting lower taxes and fees, the user can buy Both homeowners and sellers can get more than 900 LOOKS tokens. Taking the price on the picture as an example, they are about 1% of tokens respectively.

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Figure 2.2-7 from Looksrare official push

  • macro analysis

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Figure 2.2-8 Dappradar data as of 2022-01-25

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Advantage

Advantage

Can use ETH, WETH mixed payment mode

  • The payment mode of LooksRare is simple, which can reduce unnecessary loss for users and is more convenient.

Instant royalties at more competitive prices

  • Real-time income, the NFT project party can immediately receive royalties in every transaction of NFT (OpenSea settles on a weekly basis)

  • Lower handling fees and royalties compared to OPENSEA;

Support one-click pending order quotation, multi-platform pending order

  • Supports one-click bidding for all NFTs in the series, multiple pending orders only need to pay a handling fee once, and it is more convenient to sell in batches, etc.;

  • Users can place sales orders on LooksRare or any other platform at the same time;

Issue token LOOKS and share development dividends with users

  • Users will be rewarded with LOOKS tokens for purchase or sale (44% of the total)

  • 100% of the platform's service fee profits are returned to the stakers (unprecedented);

  • Only a very small share belongs to investors, and there is a lock-up period.

The development prospect of the platform is relatively large

  • disadvantage

disadvantage

  • There is a mechanism of “scrubbing” transaction volume on the platform, which does not reflect the real data transaction volume. Most of the participation is to obtain token arbitrage, and there is water injection behavior.

  • Changes in the LOOKS currency price have a great impact on the transaction volume of the project, the pledge income is high, and there are many people trading. However, if the pledge income is small, the transaction volume will drop significantly.

  • In the early stage of development, it has not yet generated enough stickiness for users, and it is difficult for the platform to recover from market turmoil.

Under the banner of "By NFT people, for NFT people", LooksRare detonated the market once it was launched, and the response was good. The key to its success lies in daring to challenge the monopoly position of Opensea, an established NFT trading market, and to distribute the development dividend of the platform to the builders of web3.0. The mutual selection of the community and the project team has created Looksrare today.

However, the future development of LooksRare is still worthy of our scrutiny. First of all, its later plans have not been listed in detail, and the details have not been missed yet. And there are still many functions to be developed in the future. Secondly, the architecture of the project is also a new design, built for scalability, speed and security. It is bound to be a big test for the technical level. The economic model and platform mechanism of looks token distribution are indeed relatively clear and user-friendly. The recent rise has been rapid, but many people in the industry have recently questioned its water injection behavior and hype.

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2.3 Rarible($RARI)

Introduction

Introduction

RaribleIt is a comprehensive NFT trading platform running on Ethereum. Users can mint their own NFT with zero threshold. It will be launched in early 2020.

Development roadmap (big event)

  • On July 16, 2020, the Rarible team launched the ERC20 governance token $RARI, and users hold and jointly govern Rarible;

  • In August 2020, Rarible cooperated with the DeFi project Yearn Finance to issue insurance in the form of tokens. Yearn Finance's yInsure will allow users to purchase tokenized insurance for various DeFi activities through the Rarible market.

  • On January 28, 2021, NBA Dallas Mavericks owner and billionaire Mark Cuban (Mark Cuban) sold his encrypted art NFT on the NFT trading platform Rarible. In May of the same year, the first NFT series of the world-renowned boxing champion Floyd Mayweather (Floyd Mayweather) has now been officially released on Rarible. Social media Twitter also gave away 140 newly designed NFTs on Rarible;

  • In February 2021, Rarible completed a $1.75 million seed round of financing, with investment institutions including 1kx, Coinbase Ventures, ParafiCapital, CoinFund and other institutions;

  • In June 2021, it received US$14.2 million in Series A financing. Well-known investment institutions include CoinFund, Venrock, 1kx, etc.

  • On August 12, 2021, the Rarible open source protocol was officially launched;

  • From December 13th to 15th, 2021, cooperation with Adobe, Flow, and Tezos was reached; the IOS mobile terminal Rarible App was launched and users can directly send private messages to each other on the platform; Rarible began to support multi-chain NFT transactions.

Project party introduction

Investment agency

Investment agency

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data analysis

data analysis

  • Token Analysis

Rarible is the first NFT platform to issue governance tokens.

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Volume Analysis

In 2021, Rarible will have a total transaction volume of $249 million and 79,000 active users. As of January 24, 2022, the transaction volume of Rarible has reached 274 million US dollars, and the number of users has reached 1.6 million.

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Advantage

Advantage

  • The second largest NFT exchange after Opensea, and its user activity is high

  • Support three chains of ETH, Flow and Tezos, and will support Solana and Polygon in the future

  • The information on the official website is basically complete, and its ecology is being further improved

  • High marketing activity

  • disadvantage

disadvantage

  • The phenomenon of wash trading affects NFT market transactions, which can easily cause bubble economy and false prosperity

  • NFT anti-counterfeiting measures work inefficiently

When Rarible was first launched, the major ecosystems were not very complete. Since it only supported the Ethereum chain at the beginning, although it was interoperable with the Opensea market, it could not cover all Opensea markets. However, the mobile APP, Flow and Tezos are now connected. On-line, Rarible is constantly improving its ecosystem; as the second largest trading market after Opensea, Rarible is still very promising to catch up with Opensea.

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2.4 NFTrade($NFTD)

Introduction

Introduction

NFTrade image description

Figure 2.4-1 Main interface of NFTrade official website

Development roadmap (big event)

  • On May 19, 2021, NFTreade released the main network and launched NFT functional tokens, and plans to conduct IDOs on nearly ten different platforms, the token symbol is $NFTD.

  • The trading volume and popularity reached their peak on 2021-11-25, the price of $NFTD tokens surged by 300%, and the market value reached 30 million US dollars, but the total market share is unknown.

  • 2021-11-29 It was officially announced that the decentralized cross-chain NFT platform NFTrade announced the integration of Tezos. The advantages of Tezos' low fees and fast speed allow users or development teams to easily create, buy, sell, and exchange NFT peer-to-peer.

  • 2021-12-03, NFTrade announced the integration of the Harmony network, which will create a one-stop shop for Harmony NFT interactions. After the integration, all ONE holders and Harmony network users will be able to easily create, buy, sell, peer-to-peer exchange and mine NFTs.

Project party introduction

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Investment agency

data analysis

data analysis

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Figure 2.4-2 NFTrade currency holding address

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Figure 2.4-3 Line chart of NFTrade’s total market capitalization data, sourced from CoinMarketCap website

Market Advantage

  • NFT cross-chain transactions.

  • The NFT of the mainstream chain can be displayed on the same platform without switching wallet accounts.

  • disadvantage

disadvantage

  • It is greatly affected by the price of platform tokens and is prone to fluctuations.

  • The heat is not high enough, most of the transactions are on the Ethereum chain, and the proportion of other chains is relatively low.

NFTrade has currently enabled NFT transaction conversion between five mainstream chains, namely ETH, BSC, Polygon, Avalanche and Moonriver. The team claims that it will be compatible with more popular public chains in the future.

The development potential of the cross-chain NFT market transaction model is inevitable as an emerging model, just like the union between cross-chains in the future is also inevitable, but at the same time, it will also face potential problems on the road, including the difficulty of technology development , transaction security risks, etc., how to attract a sufficient number of user groups in the process of maintaining cross-chain continuous development is also the key.

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2.5 Genie

Introduction

Introduction

GenieIt is an NFT trading market aggregator, which realizes one-click buying and selling of multiple pieces and series of NFTs, which reduces the time cost and transaction cost of users. It is called the "1inch" of the NFT version. And Genie supports ERC-721 standard NFT collections on Opensea, NFTX, NFT20 and Rarible. Genie Swap improves NFT user experience, liquidity, and price stability.

Development roadmap (big event)

  • The Beta version test was opened from August to mid-November 2021. During the test period, a total of 631 users completed more than 1,600 transactions, with a total transaction volume of more than 5,500 ETH.

  • Genie was officially launched on 2021-11-17 and launched two functions, Genie Swap and Genie List, which have attracted widespread attention from NFT players.

  • From 2021 to the end of November, Genie supports and launches ERC-1155 standard NFT collections.

  • According to data from Dune Analytics, on 2021-12-02, the total transaction volume of Genie was about 11,000 ETH, and the total number of users reached 2,300, with a daily increase of hundreds of users.

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Advantage

Advantage

  • Buy NFT in batches to attract more users to "sweep goods".

  • The interface is simple, and the one-click batch pending order function can set the pending order price for each NFT of the pending order.

  • Lower Gas fees, in the face of a surge in transaction volume, no need to face the situation of spending several Gas fees but still not being able to buy.

  • Supports "bartering", users can use the NFT contained in the Genie NFT fund pool to exchange for the required NFT collection.

  • disadvantage

disadvantage

  • Genie supports fewer platforms.

  • There are not many types in the NFT fund pool, and the number of NFTs that support "bartering" is too small.

  • The Genie platform currently only accepts buying and selling functions, and is not a one-stop trading platform.

The economy is becoming increasingly digital. NFT marketplaces will be as ubiquitous as online stores, but with a reduced transaction experience.

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2.6 ZORA

Introduction

Introduction

ZoraFounded in March 2020 and headquartered in the United States, Zora NFT itself is an agreement based on Ethereum. Zora NFT is an invitation-only digital art platform for creators, specializing in providing limited NFT tokenized products and works.

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Figure 2.6-1 Well-known projects built on the Zora protocol

Development roadmap (big event)

  • In October 2020, $2 million in seed round financing was completed

  • In February 2021, Zora introduced a verification mechanism to support artists to apply to join Zora.

  • On February 8, 2021, Linkin Park lead singer Mike Shinoda released his first encrypted art NFT on Zora and sold it for $30,000.

  • In April 2021, SEC regulatory filings revealed that Zora had raised nearly $8 million through an equity sale.

  • In August 2021, Zora launched the CryptoPunks auction house Punk House, which is currently the only open and permissionless CryptoPunks on-chain auction venue, and launched a new auction mode-group bidding.

  • On September 28, 2021, Zora will open the minting function, and users can mint NFT works on the platform

  • On January 2, 2022, to celebrate the first anniversary of the platform, Zora launched the "ZORB" series of NFT casting activities, and a total of 56,741 NFTs were minted by users for free.

  • On January 25, 2022, ZORA announced the launch of the V3 version. The V3 version allows creators to receive royalties instantly, while integrating royalty registration, which means that NFT owners can configure their royalties on the Zora Marketplace Protocol.

Project party introduction

Investment agency

Investment agency

  • In October 2020, Zora completed a US$2 million seed round of financing, led by Kindred Ventures, with participation from other individuals or institutions such as Trevor McFedries, Alice Lloyd George, Jeff Staple, and Coinbase Ventures.

  • data analysis

data analysis

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Figure 2.6-3 Zora transactions in the past 30 days, sourced from NonFungible

Advantage

Advantage

  • Mainly for the NFT market and creators with limited transactions, the market is irreplaceable

  • The project has a strong desire for decentralization as soon as it is issued. Although no tokens have been issued, its NFT holders are already carrying out joint governance

  • disadvantage

disadvantage

  • There is no clear development path and the project is at an early stage

  • The popularity and activity are relatively low, and no sticky users have been generated

Zora's market is mainly for artists and creators. Most of the products we can see on the platform are biased towards creation rather than the market, and Zora does not charge any commission for creators, which undoubtedly saves a lot of money for creators. This feature makes Zora's market more irreplaceable; but also because of Zora's unique market positioning, Zora's market share is significantly lower than that of OpenSea and the second-ranked Rarible, so the heat and hype The degree is relatively low. For ordinary creators, creating on Zora is more convenient for owning NFT ownership, but it is not easy to sell at a high price.

Zora has designed a novel NFT price range mechanism. Creators can set the maximum and minimum prices of NFT by themselves when releasing NFT. When the creator’s NFT ranks higher on the platform, the selling price will be more inclined to the maximum value. , otherwise it moves closer to the minimum value. This price design can accurately reflect the market orientation of NFT transactions.

Introduction

2.7 OpenDAO

Introduction

OpenDAOIt is a community autonomous organization that aims to thank all NFT creators, collectors and markets for nurturing the entire NFT ecosystem. Therefore, the project side chose the transaction data of OpenSea (leading role in promoting NFT transactions) to represent participating users. Coin ($SOS) ​​airdrop.

$SOS is a platform token issued by OpenDAO in the NFT community. The total supply of $SOS is 100 trillion pieces, of which 50% is used for airdrops, 20% is used for pledge rewards, and 20% will be used for the maintenance of the OpenDAO organization. % is used for liquidity mining rewards.

Development roadmap (big event)

  • On 2021-12-24, for OpenSea, which has not disclosed the currency issuance plan for a long time, the enthusiasm of platform users has declined. OpenDAO took this opportunity to announce a feedback event: participating users can receive airdrops based on previous transaction records and spending assets on OpenSea, and the amount of $SOS airdrops depends on the amount of ETH that users spend on Opensea and the transaction volume.

  • Ouyi OKX will launch $SOS (OpenDAO) on 2021-12-25.

  • On December 27, 2021, according to Uniwap data, the 24-hour trading volume of $SOS has reached 67.31 million US dollars, and the trading volume has exceeded 67 million US dollars.

  • SOS staking will be open on 2022-01-05, and staking rewards will be issued from 19:00 on the same day. The pledge is carried out in the form of automatic compound interest, and the pledge smart contract has passed the CertiK security audit.

  • On January 5, 2022, the cross-chain bridge cBridge launched by the layer-2 expansion platform Celer announced that it has reached a cooperation with the decentralized autonomous organization OpenDAO to achieve multi-chain expansion by establishing an open native asset standard and reject supplier lock-in.

  • As of 2022-01-07, nearly 81.67% of the airdrop addresses have received more than 40.8 trillion $SOS airdrops, and the cumulative number of claimed addresses has exceeded 290,000.

  • In the middle of 2022-01, based on this advantage, OpenDAO recently launched a new protocol——SOSMarketimage description

Figure 2.7-1 Main interface of SOSMarket official website

Project party introduction

data analysis

data analysis

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Figure 2.7-2 Price trend of $SOS token for one month

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Advantage:

Advantage:

Disadvantages:

Disadvantages:

After relying on Opnsea's strong rise, as the popularity faded, OpenDAO's shortcomings were also revealed: First, there is no practical application to retain users, and the popularity comes and goes quickly. Secondly, the project tokens are relatively concentrated, and there are many large NFT tokens, which have a greater impact on token prices and high risks.

Why can $SOS sweep all communities in a short time? Many people are entangled in the actual use of $SOS, but $SOS is actually speculating on market sentiment. Once emotions are aroused, the market tends to go crazy. For NFT users who have paid for OpenSea but have not given anything back, the appearance of $SOS has aroused users' dissatisfaction with OpenSea.

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Table 2.8-1 Horizontal comparison of 6 popular NFT trading platforms

Comparative analysis of other platforms and Opensea

We all know that the current NFT platform is mainly dominated by Opensea, but Opensea has no plans to issue tokens, share benefits with users and decentralize governance, which has caused dissatisfaction among many users. Currently, more and more NFT trading platforms Gradually rising, how far is it to break the monopoly of Opensea? We have made the following analysis for each NFT platform project under current research:

  • Opensea has a leading advantage, and its ecology is relatively mature; Rarible only supports Ethereum NFT transactions at the beginning, and has added two chains, Flow and Tezos, and its ecology is still gradually improving; The false prosperity and serious bubble economy phenomenon are not conducive to its long-term development; NFTrade, Genie, Zora, etc. are still in the early stages of development, and Opensea still occupies a dominant position in the NFT platform market.

  • Opensea has no token distribution plan, and even has an IPO plan. It is still in line with Web 2.0 in essence; Rarible, LooksRare, NFTrade, etc. have issued tokens. Although Zora has not issued tokens, NFT holders can jointly govern , these emerging NFT platforms are gradually decentralizing, which is more in line with the interests of NFT users and the trend of the Web3.0 era.

  • first level title

3. Track analysis of NFT trading market

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Figure 3-1 Statistical line chart of the number of wallet addresses with NFT (including ERC-721 and ERC-1155), sourced from Dune Analytics data statistics website

Of course, the rise of the online blockchain NFT trading market cannot do without the support of traditional market experience and the improvement of communication technology. However, compared with traditional markets, the advantages of online NFT transactions include not only;
1) The threshold for people to participate in the market has been greatly reduced, and the number of participants has been expanded. Anyone with a smart device can participate. Increasing the number of participants indirectly increases the potential consumer group and transaction amount.

2) People can participate in the blockchain NFT market on the network around the world, without spending time and energy on arranging schedules, improving participation efficiency and enthusiasm

3) The concept and management of decentralization avoids the management of the offline centralized market. In the traditional market, there are a series of illegal and criminal problems such as corruption, dark transactions, and scams. Instead, through the setting of a decentralized network, while ensuring the security of the amount, it avoids some potential private communication and illegal transactions.

The development of the offline NFT trading market is also proceeding simultaneously.

Christie's Auction Center, according to data released by the company, its total turnover in 2021 will be US$7.1 billion, a five-year high. In 2021, Christie's sold more than 100 NFT works, with a total turnover of nearly 150 million US dollars, accounting for 8% of Christie's total contemporary art turnover in 2021. Among them, 74% of those who participated in the auction participated in Christie's auction for the first time, and the average age was around 42 years old. Relatively speaking, encrypted art is particularly attractive to the new generation of young collectors.

Another major auction house, Sotheby's, also held the first online NFT auction jointly with NFT auction platform Nifty Gateway in April this year. Published data show that its total auction turnover in 2021 reached 7.3 billion US dollars, setting a record. Among them, the auction turnover of NFT collectibles reached 100 million US dollars.

Compared with a series of NFT trading markets such as OpenSea on the blockchain network, offline NFT trading markets represented by Christie's and Sotheby's also have their own advantages:

1) Observability, observe the quality of commodities in reality to judge their value. Compared with data transactions in the network, NFT transactions in reality can be judged by senses such as vision, which is more referential.

2) Authority and traceability, etc. Anyone can carry out activities such as NFT listing on the Internet, but its security cannot be guaranteed, while offline auction sites such as Christie’s have authoritative certification and top security Guarantee, and when there is a problem with the product during the auction, the auction center will assume its due responsibility.

summary:

summary:

first level title

4. Summary and opportunities

A successful trading platform is inseparable from a good user experience. In the early days of the NFT market, OpenSea brought users a better experience with its comprehensive one-stop service, and thus became the leader of the NFT trading platform. And with its accumulated traffic and popularity, there are now a lot of celebrities and stars publishing or buying NFTs on OpenSea, and OpenSea has also become the platform of choice for the well-funded bigwigs in the circle. However, with the continuous development of the industry, various NFT trading platforms and more convenient functions have emerged.

For example, LooksRare has a lower handling fee than OpenSea, and users who pledge $LOOKS tokens can also get platform handling fee dividends, which is undoubtedly a better choice for retail investors with relatively small funds. And creators on LooksRare can receive royalties immediately, instead of waiting for two weeks on OpenSea.

The mobile APP launched by Rarible in the second half of 2021 will greatly improve the convenience. Users can use their mobile phones to manage or trade NFT assets anytime, anywhere, and can also use their mobile phones to take pictures or upload pictures to make NFT. In addition, the open source protocol Rarible Protocol launched by Rarible brings together the issuance and transaction data sources in the NFT market, and provides development components and templates for developers of NFT applications. As a decentralized NFT market protocol, ZORA has launched an NFT rendering tool and ZDK (a development kit that interacts with ZORA), improving the efficiency of NFT creators and developers. Rarible and ZORA provide more choices for creators and developers, and it is not ruled out that they will become dark horses on the NFT trading track.

NFTrade and Genie.xyz, which were launched recently, use aggregation and batch trading to realize faster cross-chain transactions of NFT, and at the current stage, there is zero handling fee, only Gas fee is required. Although the popularity of these two platforms is not high at present, their concepts and functions are novel and practical, and may be worth trying.

In contrast, OpenSea's user experience is no longer its advantage, but has become backward. And on OpenSea, users have lost NFT assets many times, and there have even been scandals of insider trading by employees. Obviously, the current OpenSea does not conform to the concept of decentralized operations and Web 3.0 empowering users. Therefore, OpenDAO came into being. However, 50% of OpenDAO's token $SOS is concentrated in external account addresses, not smart contract addresses, and can be unlocked at any time. Therefore, secondary market participants should also avoid making investment decisions under the influence of FOMO sentiment.

Whether you choose a leader like OpenSea or other trading platforms with their own characteristics, you need to pay attention to distinguishing the authenticity.

secondary title

NFT Tool Encyclopedia

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This article is copyrighted by D-Tiger Research Institute. Without permission, any organization or individual shall not reprint, copy or redistribute others, etc.

The above content analysis only provides reference information, and does not serve as the basis for investment decisions. Please do not make any investment decisions based on this report. The report author is not responsible for the user's investment results.

Reports have been prepared as of the date indicated and as subsequent market or economic conditions may change, the contents of the report do not necessarily reflect these changes. Graphs, charts and other visual aids are provided for informational purposes only. None of these graphs, charts or visual aids should be used to make investment decisions. It is not intended to assist anyone in making an investment decision, and no graph, chart or other visual aid can capture all of the factors and variables necessary to make such a decision.

Certain statements involved in this article may be assumptions about future expectations and other forward-looking opinions, and known and unknown risks and uncertainties may cause actual results, performance or events to be different from opinions and assumptions in the statements There are substantial differences.

Any projections, forecasts and estimates contained in this report are speculative in nature and based on certain assumptions. These forward-looking statements may prove to be wrong and are subject to incorrect assumptions or known or unknown risks, uncertainties and other factors, most of which are beyond our control. It is anticipated that some or all of such forward-looking assumptions will not materialize, or will differ materially from actual results.

This article is copyrighted by D-Tiger Research Institute. Without permission, any organization or individual shall not reprint, copy or redistribute others, etc.

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