Blockchain circle

One stop hot information platform

About us:

Blockchain circle provides the latest information about blockchain, digital currency, digital wallet, exchange, metauniverse, bitcoin, Ethereum, contract, financial management and so on, and always pays attention to the latest market...

Is it risky to invest in blockchain,What is the digital collection? Is there a risk? Who will supervise?

Time : 02/12/2021 Author : 4lkqex Click : + -
        Xinhua news agency, Tianjin, November 18 (reporter Guo Fangda) an electronic picture auctioned by Christie's auction house sold for 69.3 million US dollars. This picture labeled "NFT" is considered to be one of the most valuable digital collections at present. Some digital collections recently tested by some domestic platforms are reported to be "second light" as soon as they are launched. Digital collections have aroused the enthusiasm of many investors. So what is the digital collection, what are its characteristics and whether there are risks? The reporter conducted an investigation into this. In March this year, the electronic painting "every day: the first 5000 days" was auctioned at Christie's auction house. The author composed this picture by collage of thousands of paintings he had created before, and cast it into "NFT", and finally sold it at a price of 69.3 million US dollars.
 
        NFT, that is, non-homogeneous token, encrypts a picture, electronic album or other digital works through blockchain technology to make it unique. Unlike bitcoin and other digital currencies, which can be continuously divided, NFT emphasizes that it is the only asset that can not be divided. In short, NFT is to mark a work with "anti-counterfeiting code" through blockchain technology, making it a unique digital token. Therefore, digital works can be traced back to the source, and the copyright can be clarified and traded. Many investors followed the trend. Sotheby's auction house also held an online auction of NFT works, and the total turnover of the first auction reached 16.8 million US dollars. One of the works was a pixel painting composed of one pixel, which was sold at 1.36 million US dollars.
 
        The organizer said that this work is "a token signed on the most basic unit of a digital image". In addition to paintings, digital albums and even some social media trends are sold under the label of "NFT". Some video game enterprises cast virtual assets in their own products, such as land and virtual pets in the game, into NFT for trading. In China, some enterprises have also tried to test the water and launched collections such as red envelope covers and digital torches. Some of them were resold on second-hand trading platforms, and the bid price was once as high as one million yuan. According to the data of NFT trading data website nonfungible, in August 2021, the total trading volume of NFT market increased by more than 700 times year-on-year, and the weekly trading volume of NFT market also exceeded US $1 billion for the first time in August.
 
        At this stage, no matter how the picture or digital album is marked with "anti-counterfeiting code", people can still copy its data for their own use. Li Yueru of the Planning Research Institute of CCID Research Institute of the Ministry of industry and information technology believes that "blockchain technology can not prevent the copying of data from the source. If an infringement event occurs, it is also difficult for the law enforcement department to locate the behavior of the virtual trading account to the legal subject that can be governed in reality.". The qualification of NFT issuers is another core issue concerned by the industry. "Who will issue it? How? Is there any conflict between the centralized issuance and the decentralized trust? How can the rights and interests be guaranteed after the issuance? How can the subsequent problems be solved if the issuer fails due to poor management?" Li Yueru said.
 
        "The value target of NFT is not clear enough. Some practitioners participate in the investment of NFT concept products, which is largely due to the optimistic expectation of future technology development." Li Yueru said. NFT like tokens also involve legal risks. Liu Huilei, a lawyer of Shanghai Chengming Zezheng (Beijing) law firm, believes that at present, virtual currency related businesses are illegal financial activities in China, while NFT is wandering in a gray area. "If NFT is still circulating in the market in the form of virtual property, the relevant contract shall be legal and effective. If NFT trades in the market based on the content of virtual currency, the transaction is illegal.
 
        ”In addition, due to its scarcity and difficult pricing characteristics, it should be prevented from becoming a tool for money laundering, tax evasion and other illegal and criminal activities. From the perspective of regulation, active legislation is the necessary path to make proper use of new technologies. Liu Huilei believes that China's NFT issuance and trading market is not large at present, but it should be included in administrative supervision as soon as possible to avoid possible financial or legal risks. He suggested that the NFT legislative regulation system could be improved from the perspectives of "clarifying the essential attributes of virtual NFT and related business activities", "establishing and improving the working mechanism to deal with the risk of NFT trading speculation" and "strengthening the monitoring and early warning of the risk of NFT trading speculation", referring to the legislative style of departments related to virtual currency.
 
        Before the implementation of regulation, there may still be large foam in NFT related fields for investors. Relevant people believe that ordinary investors should be cautious. In order to realize the healthy and long-term development of NFT industry, it needs the compliance operation of market subjects.
 
        
Previous:Blockchain + regional equity market: background, thinking and mode exploration
Next:No more

Related articles:



© 2005-2032 | Blockchain Circle & & All Rights Reserved    Sitemap1 Sitemap2 If there is infringement, please contact us at: