Since the second half of last year, we can see a large number of traditional giants: such as Time Magazine, Nike, etc., as well as performing arts stars such as Jay Chou, etc. have issued their own NFT.
This shows that subjects in the traditional field, especially those with their own traffic and IP (whether companies or individuals) have begun to pay attention to the out-of-circle effect of NFT, and are also aware of this The out-of-circle effect can further consolidate or even expand one’s influence.
The NFTs issued by these big names, especially stars, are actually not fundamentally different from traditional collections such as their autographed photos and limited edition albums, but in the form of collections changed. Its value core is highly dependent on the star itself, and this type of NFT may be more valuable and meaningful to their fans than to the entire encryption circle enthusiasts.
If we compare this type of NFT with another type of NFT such as cypherpunk and boring ape, we can see the fundamental difference between the two:
This type of NFT is the traffic brought up from top to bottom around stars and companies, and is the traffic brought by centralized organizations or individuals. In essence, it is still the traditional way of carrying traffic on the Internet, but the specific form of carrying traffic has changed, from traditional objects to numbers.
As for NFTs such as cypherpunk and boring ape, their value and consensus are formed from the bottom up, developed from the grassroots, gradually accumulated, and spread to the entire encryption Circled.
The formation of the two kinds of NFT traffic and the formation of consensus take completely different paths, so there is a fundamental difference between the two in terms of genes.
I believe that the NFT that forms traffic and consensus from the bottom up is the more valuable and meaningful NFT.
Looking forward, this is how Bitcoin forms consensus, and Dogecoin and shitcoin also form consensus in this way. The strength of this consensus has been widely demonstrated.
So I am very supportive of the issuance of NFT by such stars and companies, but I will not invest. In addition to companies and celebrities issuing NFTs, a new craze emerged last year: music NFTs.
I am also optimistic about this track, and I have also experienced some projects, such as Catalog and Sound. I believe that NFT will bring great changes to the music industry. However, I also vaguely feel that NFTs in the music field may not necessarily have the same out-of-circle effect as avatar-like NFTs.
Based on the current development status, the major music NFT application platforms attract more music lovers, and it seems that they have not spread widely outside the circle.
This is in stark contrast to avatar projects: most of the fans who buy avatar NFT are not art lovers or art lovers, but come from all walks of life career young people. They gather together in the virtual world because of an avatar, and have their own common spiritual home and sustenance. This kind of social experience and sense of belonging is currently almost non-existent or very weak in music NFT.
So, are the current music NFTs the killer feature of NFT applications in the music field? What is the real killer application of NFT in the music field? Will NFT in the music field have as much potential as some people hope?
These questions are also what I have been thinking about and observing. At present, it seems that this field is still too early, and perhaps we need time to continue to observe and continue to explore.
In short, the future of NFT is bright and great, but it is very likely that its brightness and greatness will appear in a way that we have not yet imagined. Therefore, we should lower our stature and always be a curious primary school student in this field.
