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Is anyone still buying digital collections that have been fired to millions?

Time : 09/09/2021 Author : mzf3dj Click : + -
        At that time, the NFT encryption art work "everydays:thefirst5000days" by foreign digital artist beeple had sold at Christie's for nearly $70million, and the early projects of some well-known domestic artists had also been launched, creating a wave of topics and heat. LV Yadong is confused about this &mdash& mdash; He doesn't understand what NFT and digital collections are, why they can be sold so expensive, and how he can participate in them. He found Fu Rao, who was preparing the NFT entrepreneurship project, and asked how to make his works into digital collections and sell them.
 
        In the seven or eight months after the cooperation between the two sides, a set of panda themed digital collections created by LV Yadong earned a total of 550000 yuan. Before that, the most expensive painting he sold was for 30000 yuan. "Localized NFT" &mdash& mdash; This is how many people understand "digital collections". This concept first attracted attention in the domestic market in June 2021. Alipay and the Dunhuang Academy of fine arts jointly released two NFT payment code skins, "Dunhuang Feitian" and "nine color deer", each limited to 8000 copies, with an initial release price of 9.9 yuan plus 10 Alipay points. These two NFT skins were swiped on social media on the day of sale, which triggered a rush to buy. Some people bought at a high price on the second-hand trading platform, and the highest price was speculated to more than 1 million. The platform side immediately removed the relevant products.
 
        Two months later, Tencent's NFT sales platform "magic core" app was officially launched, and major manufacturers began to layout NFT one after another. But today, major platforms no longer use the name NFT, and the turning point occurs in October 2021 &mdash& mdash; For compliance reasons, all works on Ant and Tencent's NFT platform were renamed "digital collections", and the saying of "NFT" disappeared. Since then, digital collections have continued to heat up in China, with players, platforms, IP parties, brands and various intermediate service institutions running into the market. The market heat reached a climax in February and march around the Spring Festival this year. Until now, the news of publishing digital collections in various brands, cultural tourism, science and technology, fashion games and other fields is still continuous, and the number of platforms is also rising, but the market response has entered a calm period.
 
        The myth of sudden wealth spread in the "digital Tibet circle" also returned to reality after the heat subsided. In foreign countries, NFT is considered to be the application scenario that is most likely to promote the implementation of Web3 concept. Turning to China, this wave of NFT localization transformation of digital collections may provide a feasible practical path for Web3 to land in China after the polishing of regulatory compliance. If we draw a timeline for the development of domestic digital collections, it can be regarded as an early stage before it is officially renamed from NFT to "digital collections" in October 2021. Yexue belongs to the early players. In July and August 2021, he bought his first collection — on the "whale search" app, a digital collection platform under ant& mdash; A painting by Qi Baishi costs 19.9 yuan.
 
        He thought that the price was not high, and he would not lose money if he bought it. The buyer could see what it was. "I wanted to be a collector at first." The reason why yexue is curious about digital collections is that he came into contact with cryptocurrency in 2013 and has been paying attention to blockchain technology. When NFT first became popular abroad, he thought it was an application scenario that could implement blockchain technology. When domestic digital collections rose, he began to pay attention. Among the early players, there were many groups like yexue who bought it with curiosity and interest. But like other collection circles, most long-term active players will participate in secondary market transactions, many of which have speculative purposes.
 
        After changing its name to "digital collection", the industry entered a warming period, and the secondary market prices rose all the way until the peak in February and march around the Spring Festival in 2022. In February this year, when the domestic digital Tibet market was at its hottest, the price of some popular collections was speculated to the upper limit of 99999 yuan set by the platform on the head digital Tibet platform "unique art", which opened the secondary trading market. Generally speaking, when a new digital collection is sold on the platform, the price range is mostly set at 9.9 yuan, dozens of yuan to hundreds of yuan. Driven by the hype effect, after the buyers grab the collection, they can trade in the secondary market, and the price can be increased to ten times, a hundred times or even tens of thousands of times.
 
        Geek park found that users of some small platforms mostly rely on games and gimmicks such as the airdrop of creation works, registration of blind boxes, priority purchase and empowerment, and the opening of the secondary market, which means that users do not really need to pay money costs to get collections when they enter the site initially. In other words, as long as you grab a popular collection, you can immediately realize arbitrage at a high price, with negligible costs and risks. If you have several head collections on hand, you can get rich overnight by changing hands at that time. Many buyers who stepped in at the right time came from the shoe circle, Moutai circle and ticket circle. They felt that this was a profitable business and stared at the new cake with the logic and means of speculation.
 
        In addition to professional speculators, some of the players entering during the peak period are generation Z, mainly college boys. Most of them are keen on currency circle, subculture, national tide and national diffuse, which is easy to form viral transmission: one person affects one dormitory, one dormitory affects one class, and one class affects one department. "Buy is earn." When it comes to the digital collection market during the peak period, Huang Kai, the principal of "digital collection ship" of vertical we media, mentioned this sentence most. The story of making money takes place in the secondary trading market of digital collections. As an early user of a platform, yexue once received the free creation medal issued by the platform and sold it for thousands of yuan in the secondary market.
 
        Later, the platform "empowered" the medal, and finally the price of this medal rose to tens of thousands of yuan in the secondary market. First, represented by Tencent's "magic core" app, there is no secondary market at all, and the collection cannot be circulated; Second, represented by ant's "whale probe" app, it does not open a secondary market, but has a "gift transfer" function, so users can "free transfer" their collections to others 180 days after purchase; Third, represented by Ibox, unique art and other platforms, it has its own secondary market, or has opened the "consignment" function, so users can trade with each other. For collections from which no secondary trading platform has been opened, players will buy and sell through OTC trading &mdash& mdash; Bypass the platform to privately agree on transactions.
 
        Some collection sales posters will release group QR codes, and players will be formed by scanning the codes. In addition, considering the regulatory risks, some platforms taboo direct secondary sales on the platform, and will set up users' wechat groups and QQ groups. Players will buy and sell by themselves in the group, negotiate prices, and then transfer collections on the platform, and transfer RMB on wechat, Alipay and other payment channels. But this kind of over-the-counter trading is more like a "gentleman's agreement". People often share their experience of being cheated in the group, "exposure liar": they don't receive the collection after paying the money, and are blackmailed by the other party. Some group owners will come out to guarantee the transaction, while others will use their real name certified phone cards to guarantee themselves.
 
        This high-risk over-the-counter trading also gave birth to a special third-party trading platform, which almost contains the collections of various data collection platforms on the market, and the number of daily living users in the peak period can reach about one million. Fu Rao, the founder and CEO of Novotel, once conducted a market user survey in his company's community. Among the 80 valid questionnaires, 51% of the users spent between 5000 and 50000 yuan, most of which were in the first and second tier cities. But even so, it is hard to say that the digital collection has ushered in a real explosion of user demand, and it still stays in a limited niche. Fu Rao observed the people around him: "maybe none of his 100 friends has ever spent real money on digital collections.".
 
        」。 Yexue also introduced the digital collection to her friends, but they were not interested. In his view, people who were originally interested have entered the market. The increase in the number of collections and platforms in the first half of this year has not stimulated new user demand, and the number of users of digital collections has reached a bottleneck. For Rao, LV Yadong is not the only young painter who came to him to learn about digital collections. College students from the Academy of fine arts often come to join him on wechat, saying that they also hope to create digital collections. "I will tell them about the digital collection every day, and sometimes I will write propositional compositions to let them create with horses, wine, etc. as the theme. If the way is right, we will start to study.
 
        」。 Fu Rao entered the blockchain circle in 2017 and did research for a blockchain company in Hong Kong to invest in cryptocurrencies and blockchains. In early 2021, he began to consider the layout of NFT, and then founded Novotel, specializing in the digital collection business. At first, he was worried that the digital collection of his company's proxy IP could not be sold on the platform, so he prepared a sum of money and thought, "if you can't, you can buy it back with your own money.". But the money was not used at all. The collection was sold out within 35 minutes of its launch, and he didn't even have time to enter the platform. The general flow process of a digital collection from its birth to its flow into the user side is: Publisher (IP side) - IP agent - platform side - buyer user.
 
        Since most platforms have not developed their own blockchain, the platform needs to purchase the online service from a third-party technology company before selling the collection. The online collection eventually appears on the platform's sale page and flows to buyers. The platform ecology of digital collections is generally consistent with the market trend. According to incomplete statistics of data collection ships, as of July 9, 2022, the number of domestic digital collection platforms has reached 820. In February this year, there were less than 100 domestic digital collection platforms, and the centralized emergence of a large number of platforms began in March this year &mdash& mdash; The peak period of digital Tibet market. The first category: platforms launched by Internet companies such as ant, Tencent, Baidu and jd.com, such as whale probe and magic core, most of which have also developed their own blockchains.
 
        With the resources and technical endorsement of large manufacturers, this kind of APP platform has obvious head effect. The second category: platforms supported by state-owned capital and official media institutions, such as Xinhua news agency launched the data collection platform "Xinhua data collection", and "zebra China" controlled by Chengdu TV station. From the perspective of business model, the platform revenue mainly comes from the primary market and secondary market. Regardless of the size of the platform, after the collection is released in the primary market, the platform and the publisher (IP party) will share as agreed. For the platforms that have opened the secondary market, another part of the revenue comes from the 5% to 10% handling fee drawn from each transaction. If the trading volume is large enough, this is a more substantial cash flow than the primary market.
 
        For small and medium-sized platforms, the IP resources and user volume they master are far inferior to those of Dachang's platforms. If the primary market distribution alone is used as a source of income, there is neither enough IP collections to be distributed nor enough primary purchases. If you want to attract more users and resources and obtain higher popularity, you still need to rely on opening the secondary market. In September last year, the only art release of the limited collection "Chang'e", a total of 216. These "Chang'e" are NFT blind boxes, which are synthesized by four levels of "moon cake" NFT dropped by the platform to users. At first, the trading price was only a few hundred yuan. With the platform empowering "Chang'e", that is, after owning it, it can enjoy some rights first. The over-the-counter trading price of "Chang'e" rose to millions of yuan, and the centralized trading price was also around hundreds of thousands of yuan.
 
        But now, even if the secondary market is opened, the life of the platform is not easy. Since April and may this year, the market in the digital Tibet market has become colder. The trading price of collections on many platforms in the secondary market has fallen below the issuance price, or there is no market. Many people see that there is no considerable profit space here, and they no longer enter the market. When the number of new users entering the market declines and the number of platforms continues to increase, an obvious market trend is that "it can't be sold, even big factories can't be sold". In February and March, the hottest month in the market, there were about 300 digital collection platforms in China. Almost all the digital collections sold on each platform were snapped up as soon as they were launched. The jargon in the circle is "seconds out".
 
        Players will be optimistic about the release calendar schedule of each platform in advance. As soon as the time comes, they will keep clicking and snapping up on the platform. But even so, there are still many collections that cannot be grabbed. The more someone grabs, the more premium OTC trading, leading many people to open plug-ins. Geek Park learned that the rush purchase of digital collections has even derived a black industry chain. However, Huang Kai observed that since June this year, the collection on the phantom core has rarely been sold out like before, and even there are not many collections that can be sold out. Many collections can be bought the next day. A major difference between domestic digital collections and foreign NFTs is that foreign NFTs are based on public chains, while most domestic digital collections are based on alliance chains.
 
        Blockchain technology is the infrastructure of Web3, which provides underlying support for the implementation of this concept. In addition to the alliance chain, some digital collections have also been applied to vr/ar technology and hardware devices. However, the platform has not been decentralized as advocated by the line. Taking login as an example, most platforms are not analogous to the "wallet" concept of foreign NFT trading platforms. Users generally enter the platform through their mobile phone number and verification code, and their personal accounts are kept by the platform. Once the platform fails, users face the risk of disappearing their collections. The reason behind the renaming of NFT to digital collections is to avoid the regulatory risks of domestic policies and norms on "tokens" and tokens, weaken the financial and trading attributes, and emphasize "monetization".
 
        At present, there is no clear regulatory policy and industry standard for the digital collection industry, and it is still in a blank period. The content of industry initiatives and self-discipline conventions are mainly used as compliance bases and risk tips. However, from the "initiative on preventing NFT related financial risks" to the "initiative for the self regulatory development of the digital collection industry", the signal that can be conveyed by the successive release of the text of the initiative is that the digital collection has been in the regulatory vision day. The release of the "reference for the application of digital collections" edited by the State Press and publication administration is regarded by the industry as an official signal about the future regulatory trend and compliance path of digital collections. This set of Xu Beihong's digital ink horse collection has a total of 8 models, all selected from Xu Beihong's most famous theme of galloping horse. Each collection is limited to 3620 copies, with a unit price of 128 yuan, and immediately sold out after the phantom core went online.
 
        Src= screenshot of Xu Beihong's digital ink horse collection released by magic core. At this stage, it still belongs to the common playing methods and situations in the data collection industry, but the next trend has involved an Oolong of copyright infringement. Xu Beihong Art Museum issued a statement saying that some digital platforms sell relevant digital collections in the name of Mr. Xu Beihong. Some of the original works of these digital collections are fake works, some cannot provide complete traceability evidence, and some works have nothing to do with Mr. Xu Beihong at all. Xu Beihong Art Museum believed that this violated Mr. Xu Beihong's right of reputation and identity and the intellectual property rights obtained by his descendants according to law, and made it clear that phantom core was not authorized to issue the digital collection of Xu Beihong's paintings.
 
        In fact, in addition to phantom core, Jingtan, xumin digital collection, digital cat and other platforms have published Xu Beihong's works, but other platforms have been authorized by Xu Beihong art museum or Xu Beihong's descendants. Phantom core stated that their authorization came from the owner of Xu Beihong's works &mdash& mdash; Beijing Huangcheng art trading center. Magic core another key
 
        
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