"Pure PFP NFT will inevitably return to zero in the long run", what do senior NFT practitioners see?

Maybe we are all living too rationally, so that when we see a broken life with rational collapse or emotional disintegration, we will have a sense of logical dizziness. The people inside are like a puddle of water that has been splashed on the ground. You know they were good and good, but now they are all mud and garbage, which cannot be separated.

— Raymond Carver

"The software engineer of Azuki's parent company has sold Azuki #52, sparking community discussion."

"The floor price of BAYC fell below 30 ETH, and the floor price of MAYC fell by more than 20% in 24 hours."

"The founder of Not Larva Labs: willing to appear in court to prove that Azuki co-created Zagabond and others for fraud." ……

After the launch of Azuki’s new series of NFTs, problems such as additional issuance in disguise, rough workmanship, and confusing pricing caused an earthquake in NFTs. For a time, NFT players fell into despair. Some old players even bluntly said, “I am dead, NFT is dead, and Azuki is dead. "

According to the NFTGo market, as of July 5, the total market value of blue-chip NFT in the past 7 days fell to 6.03 billion US dollars, a drop of 4.27%, and the transaction volume fell to 193 million US dollars, a drop of 14.79%. Azuki's series of operations made the entire market start to face up to the future direction of blue-chip NFTs. Are blue-chip NFTs "coming to death"? How can blue-chip NFT retain market confidence? Odaily Planet Daily interviewed two senior professionals in the NFT industry. Appropriate deletions have been made without changing the original meaning. The following is the interview transcript.

"Pure PFP NFT will inevitably return to zero in the long run." NFTScan co-founder Shi Er told Odaily Planet Daily. PFP accounts for $3.7 billion in the total market value of NFT, but in terms of liquidity, PFP only accounts for 20.58%, while IP accounts for 28.98%, games account for 19.95%, and practical NFT ranks fourth, accounting for 15.15%.

"Because there is no intrinsic value support. If you have to find a way out for it, it is to do digital IP, cultural brand, and community, and then combine some kind of business model to capture value." Shier said, He still holds Doodles NFT now. Doodles made a splash at the NFT.NYC conference last year. First, musician Pharrell Williams was appointed as the chief brand officer. ) led the first round of financing for Doodles. At the conference, the spokesperson said that Doodles will continue to interact with brands, artists, and other projects. In the future, there will be more types of NFT, such as music albums, wearable items, and more.

But as of press time, Space Doodles is still the same as the previous PFP, and has not increased the "social attributes of the metaverse" previously advertised.

NFTGo Operations Director Bowei told Odaily Planet Daily that from the data of NFTGo, the number of holders of Yuga is declining, which means that some holders are indeed losing confidence, but the trading volume of Yuga still exceeds 50% of the market, and the number of holders is also at the end of June The decline has stopped, and the early OGs are accumulating funds, so the core confidence of the community is still there. And we also found that this decline is due to some addresses using the NFTFi platform or programmed transactions to cooperate with market sentiment and maliciously short, so it’s okay.

Bowei currently holds MAYC in the Yuga series, Otherdeed, GTAG in 10KTF, etc., as well as a little penguin. Yuga Labs was established in 2021. Its first product is BAYC. Because it feels that NFT and metaverse are still in the early "primitive society stage", it uses "ape" as its image, and BAYC is also inspired by CryptoPunks, but BAYC's innovation The difference is that the CryptoPunks development team owns the copyright of the avatar picture, and BAYC gives the commercial rights of the avatar picture to the holder and the community. This move also brings BAYC into the mainstream view, improves the value of the holder, and also Can be used commercially.

As of July 6, from the perspective of NFT holdings, 80.85% of people own 1 BAYC NFT, and 13.98% of people hold 2-3. Overall, the holdings are relatively scattered. From the perspective of holding time, 44.96% of people hold 1 Y and above, and 29.21% of people hold it for 3 months to 1 year, which is different from general NFT projects, which shows that holders are loyal to BAYC High degree and strong community stickiness.

Data source: NFTScan

Otherdeed is a metaverse project launched by Yuga Labs in April 2022. The official website describes a grand metaverse story. NFTs such as MAYC, CryptoPunks, World of Woman, etc. can be turned into playable characters in Otherdeed.

The future is still cake, and it’s hard to say if it hasn’t come to an end. Judging from the reality, **Metaverse is indeed still some distance away from landing due to technology, market popularity and other reasons. **

As the top brand of NFT projects, CryptoPunks occupies the top of the NFT trading list all the year round. As of July 6, CryptoPunks accounted for 14.41% of the total market capitalization with 448,575.6 ETH. However, in March 2022, Yuga Labs announced that it has acquired Labs acquired the IP of CryptoPunks and Meebits, including brands, art copyrights and other intellectual property rights, and provided full commercial rights to these two NFT series to holders.

Art Blocks is a special existence in these TOP Collections. As of July 6, the floor price was 0.027 ETH, but it ranked third with a market value of 141328.92 ETH, accounting for 4.54%. Founded in 2020, its operating principle is to use the hash value randomly generated during the transaction to generate the final work.

Data source: NFTGo

Art Blocks set off a wave of generative art in the NFT world, which is an art form created using algorithms, rules, and computing systems. It is often characterized by the use of randomness, recursion, and feedback loops to generate unique and unpredictable results.

Some have called Art Blocks a "generative art vending machine", but I prefer to call it a "math and science romance maker".

Azuki team members once said that "Azuki's dream is to have a big IP, big enough to have a series of animations, maybe even games and various peripherals." From its establishment in early 2022 to the present, more than a year has passed, and a new NFT has been launched.

Perhaps in order to save market confidence (of course, it does not rule out being conspicuous), DeGods founder Frank announced a new roadmap.

Another conspicuous package, Proof and Moonbirds founder Kevin Rose tweeted on July 4th, outlining the development status and future plans of Proof and Moonbirds in the past period of time.

"Future NFT should be applied in combination with specific business scenarios, such as Uniswap's LP NFT, computing power NFT, equity NFT, NFT PASS, chain game NFT, identity NFT, these are valuable." Shi Er confessed. Bowei also believes that digital assets need to have virtual world scenes to be effective, and virtual scenes need to bring positive externalities to be effective. This positive externality can be spiritual consumption or the improvement of business efficiency.