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Digital collection NFT platform "Digital Collection China" based on BSN and DDC network will be released soon

Time : 07/08/2022 Author : epscgk Click : + -
        NFT can be understood as the ownership certificate of virtual or physical assets. NFT has six main characteristics, namely, verifiability, transparent execution, effectiveness, non tamperability, accessibility and tradability. Since 2020, NFT has entered a rapid expansion period. The application of NFT is gradually expanding, from games, collectibles to music and other fields. In the future, NFT is expected to be applied in social and other fields. According to the data of toubao Research Institute, the global NFT market scale will exceed 40 billion US dollars in 2021. Toubao Research Institute believes that based on the sales of ant chain and the global NFT growth rate, it can be predicted that the NFT market scale in China will reach 29.52 billion yuan in 2026.
        China's NFT industry has great potential in the future. The first compliant NFT platform based on the national blockchain bsn-ddc infrastructure "digital Tibet China" will be officially released by Hainan digital Tibet culture and Technology Co., Ltd. on January 25, marking that NFT has entered a compliance era in China. Looking at the NFT industry from the perspective of policy, we can find that first, the development path of NFT in China will follow a business model different from that in overseas markets. Chinese enterprises will more focus on copyright protection, give play to the digital property rights certification function of NFT, and emphasize the exploration of monetized NFT; Second, according to the relevant license and filing requirements and practices, it is very difficult to obtain some licenses required by NFT.
        At present, Chinese laws have a relatively high tolerance for casting and issuing digital collection (NFT) assets for the first time and holding them by themselves, as well as transactions between casual acquaintances; Third, according to the current policies, laws and regulations of China, the safest way to establish the NFT trading market is through licensed operation. The NFT trading market or exchange needs to hold a financial license. Secondly, it can also be traded through auction or pawn. The blockchain service network BSN jointly initiated by the National Information Center, China Mobile, China UnionPay and Hongzao technology is the blockchain infrastructure network with the widest distribution and the highest technology integration in the world.
        The bsn-ddc basic network is built on the BSN public network and provides a diversified blockchain technology system, rather than being bound to a certain technology. The DDC network includes at least ten open alliance chains based on different blockchain technologies. The core of the bsn-ddc network is the BSN official DDC smart contracts deployed on the 10 DDC open alliance chains. The ten contracts officially managed by BSN support the erc-721 and erc-1155 standards. All contract implementation methods and functions are completely consistent. In order to ensure the transparency of the DDC network, the source code of these 10 sets of contracts will be open source. The security, integrity, persistence and home platform query of the DDC generated by the BSN official contract will be endorsed by BSN.
        The platform side of bsn-ddc network does not directly serve the end users, but only allows the platform side to access, and the platform side serves the end users or uses them according to its own business. In principle, the pricing mode of the DDC network is mainly the energy value (gas) consumed by the smart contract processing service and the cost of generating the official DDC of each BSN. The bsn-ddc network shall try its best to achieve safety, diversity, controllability, low price, transparency and common governance while meeting the regulatory requirements of China. Compared with other similar services, the advantages of bsn-ddc network include diversity, neutrality, transparency, open source, low price, interoperability and common governance.
        The core concept of bsn-ddc network is to build a public infrastructure that is fair and open, technology integration, safe and reliable, reasonable price and permanent operation. Focusing on the technical logic, DDC / NFT will gradually evolve into the next generation distributed database technology. The bsn-ddc network will adhere to the principles of legality, fairness, openness, security and reliability, and build a global basic network of professional services such as new distributed database technologies. Looking at the international market, according to the data of coinecko, the market scale of NFT in 2020 is only US $334 million. It is expected that the market scale of NFT will exceed US $20 billion (about RMB 130 billion) in 2021, with a year-on-year growth of more than 55 times. It is in the stage of growth when the outbreak occurs.
        Opensea is the world's largest NFT trading platform. Based on the mature smart contract system, it provides users with NFT casting, display, trading and auction services to obtain sales service fee income. As of November 18, 2021, the platform trading volume of opensea was US $10.97 billion, an increase of nearly 500 times over the previous year. In 2021, the trading volume of opensea Q3 platform was US $6.51 billion, more than double the trading volume of Etsy (NASDAQ: Etsy), a physical e-commerce platform for handicrafts with a market value of nearly US $34 billion, which was US $3.11 billion in the same period. In December 2021, Wei Pengju, President of the Institute of culture and economics of the Central University of Finance and economics, released the annual key report of "activating digital cultural heritage by blockchain technology" at the "8th China cultural and economic development forum in 2021". He pointed out that the innovative form of digital culture represented by digital collections not only makes digital heritage "hot" in the new digital era, but also makes it "hot" among the new generation of young people, And become a new driving force for promoting high-quality cultural development.
        According to Wang Pengfei, CEO of Digital Library China, "At present, there are about 30 large-scale digital collection platforms in China. Through market research, it is estimated that the market size will be 3 billion yuan in 2021. Through analysis of overseas market size and potential user groups in China, it is expected that China will achieve a market size of 50-80 billion yuan in 3-5 years, and the digital collection market will usher in explosive growth opportunities in 2022. At present, China's digital collection (NFT) market The market development is mixed, and there are non-compliance problems such as using the public chain to cast and trade, using RMB to sell NFT assets of the public chain, and providing secondary transactions for NFT or digital collections without the authorization of licensed trading institutions.
        It is bound that in the future, China's NFT will exist and develop in the form of DDC. It is for this reason that digital Tibet China mainly deals with compliance transactions. Several collections of works such as Xiao Hu and DDC creation commemorative medallion are the first to appear on the bsn-ddc network in China. Third, conduct transactions through licensed financial institutions. For example, the cultural exchange will conduct a pilot transaction of digital collections to solve the problem of compliant secondary transactions, and the online auction of collections will become a supplement;. Seventh, from 2022 to 2023, China's digital collections will develop greatly. The penetration rate of well-known IP and the proportion of enterprise level applications will become the first in the world. Most of the foreign countries are pure digital, and many are repetitive avatar series. Instead, China starts from the cultural and art fair and takes the direction of brand digitization. Internet enterprises, media, traditional artists, institutions, IP and enterprises have entered the market one after another.
        The first digital collection platform that supports private key export. That is, to practice the idea of blockchain and realize the technical and governance advantages of the public chain in the open alliance chain within China's laws and regulations. The reason why digital collections have the potential to become the basic assets of the meta universe is precisely because of the blockchain, so it is a trend and inevitable for users to master private keys. The first batch of digital collection platforms supporting bsn-ddc basic network. At present, the public chain is not compliant, and the private chain of the enterprise has no credibility. Therefore, we should choose the national blockchain infrastructure, be optimistic about the development prospects of DDC, and firmly embrace bsn-ddc. The cross chain of DDC in the future is also a major advantage. The digital collection will certainly cross the chain in the future. Therefore, the collection assets in bsn-ddc will take the lead in obtaining cross chain market dividends. The collection of Digital Collection China will be cast using BSN Wenchang chain, The metadata of the collection is distributed and stored through bsn-ipfs.
        The first batch of digital collection platforms authorized for digital art transactions. To achieve great development in the domestic digital collection market, we need to solve the closed-loop problem. Trading is the key core, and it is illegal to build a trading platform without authorization. Therefore, we need to operate in China with a license. According to the domestic regulatory requirements, the cultural exchange is the closest. Some local cultural exchanges are also exploring new trading varieties. Digital Collection China has connected with the relevant cultural exchanges and has the opportunity to become the first batch of authorized digital collection platforms in China. Digital Collection China advocates Chinese traditional culture and combines digital art with Chinese culture to launch the top ten series in China, which are: Chinese intangible cultural heritage series, Chinese ancient city series, Chinese famous mountain series, Chinese zodiac series, Chinese mythology series, Chinese rare animal series, Chinese rare plant series, Chinese famous porcelain series, Chinese famous wine and tea series, and Chinese digital art series.
        By recording the best in China with digital art, we have conducted in-depth cooperation with local governments, museums, associations, alliances, artists and brokerage agencies to explore the best in China in various fields. Through representative works or new creations by creators, we can show China's beauty to Chinese young users and show China's culture and digital art to the world. Looking at the domestic digital collection market, the big manufacturers include Alipay Jingtan, Tencent magic core and Jingdong Lingxi, the listed companies' metavision in China and the digital video's Dongyi Yuandian. The launch of Digital Collection China will also represent the rise of an innovative platform based on the national blockchain infrastructure. The digital collection market has entered the "Three Kingdoms" era, and with the development of the metauniverse from concept to practice, The digital collection will also move from a small group to ordinary people. The compliant market will also attract more talents, resources and funds, so that this emerging industry can develop healthily and contribute to making China's digital economy bigger and stronger.
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