Jay Chou supported, sold 62 million in 40 minutes, PhantaBear exploded, will NFT explode in the future?
Jay Chou stand for it, selling 62 million in 40 minutes, PhantaBear has become the most market-focused NFT
Following the hotspots of various DAOs, the market once again shifted the hotspots to the NFT sector. The most popular recently may be PhantaBear. Jay Chou personally brought the goods, PhantaBear has risen from the lowest floor price of 0.1e to the current floor price of 6.8e (price on January 10), an increase of 60 times.
Jay Chou and Kunling updated their INS avatars to PhantaBear one after another. At the same time, they received PhantaBear’s JJ Lin Junjie and Mayday’s lead singer Ashin from Jay Chou. This wave of linkage directly made PhantaBear’s popularity skyrocket.
Limited to 10,000 pieces, sold out in 40 minutes,what is the origin of PhantaBear?
PhantaBear, Phantom Bear, nicknamed Jay Chou, is an NFT jointly issued by JayChou’s fashion brand studio PHANTACi and Ezek Studio. Each NFT is a unique permutation, and at the request of the project side, PhantaBear is a collection of 10,000 algorithmically generated digital collectibles that double as Ezek Club membership cards. Each PhantaBear has a unique set of traits and unlocks different, unique access and privileges for its owner.
PhantaBear, limited to 10,000 NFTs, was sold out in just 40 minutes after it opened at 11:00 a.m. on New Year’s Day. Although the price of the NFT fell below the floor price on the 3rd due to the cutting of Jewell’s music in the middle, after Jay Chou replaced the IG avatar with Phanta Bear and sent a message to promote it, the price of Phanta Bear continued to rise.
On January 8, Phanta Bear’s 24-hour trading volume suddenly exploded by nearly 200%. Phanta Bear’s sales list in the Opensea secondary market has performed well, and it has topped the 24-hour sales list. According to the latest data from Opensea on January 10, it still maintains the third position in the sales list in the past 24 hours, and the popularity is still unabated.
Jay Chou, Ryuichi Sakamoto and others enter NFT, NFT becomes a trendy trend
In addition to Phanta Bear, according to media reports, Edison Chen may cooperate with Jay Chou to release a joint NFT project before the end of the year. Before that, Edison Chen mentioned The Heart Project’s NFT project in an INS post on September 23. This dynamic caused The Heart Project’s Discord community to soar from about 5,000 people to about 20,000 people in a short time.
When Shawn Yue, Wu Jianhao, Chen Bolin and other trendy entertainment stars put on Punk and BAYC as their avatars one after another, Edison Chen, who is the top fashionista, officially entered the NFT with the NFT project The Heart Project. The Heart Project NFT released this time is based on the love pattern elements in the limited capsule series jointly created by fashion artists Stefan Meier and Edison Chen from Los Angeles for Emotionally Unavailable.
It is not uncommon for celebrities and artists to enter the news of NFTs. In addition to Jay Chou and Edison Chen, in October 2021, Fang Wenshan cooperated with art agency Soka Art to launch Fang Wenshan x Jay Chou joint limited edition “Punk Cat Sting” (blue and white porcelain) doll with attached There is NFT anti-counterfeiting certification.
Before Jay Chou, Shawn Yue, who was most keen on collecting NFT products, has collected 79 NFT works. His current Twitter avatar is an encrypted digital avatar.
Not long ago, the godfather of Japanese music sold 595 notes of the famous song “Merry Christmas Mr. Lawrence” and sold them as NFTs.
In 2021, JJ Lin announced on Twitter on November 23 that he had purchased three pieces of virtual land on the Decentraland platform and officially set foot in the Metaverse.
In addition to the irreplaceable and unique characteristics of NFT itself, at the same time, NFT is mostly linked to art and trendy culture, and it is also a new collection method. NFT has become a new trend for many stars and artists and embraces new technologies and cultural forms.
NFT is booming, what exactly is NFT?
NFT (Non-Fungible Tokens), non-fungible tokens, with their uniqueness and other characteristics, the application range has gradually extended from games and collectibles to music, painting and other art fields, and has become a field that cannot be ignored in the encryption industry. One, the recent market hotspots have once again focused on NFTs.
Data from Dune Analytics also confirms this. As one of the most mainstream NFT trading platforms, OpenSea has locked in $3.25 billion in sales in December 2021 alone, and total sales have grown from December 2020 to December 2021 A staggering 90,968%.
Recently, with the rise of NFT popularity, Opensea’s transaction data has reached a new high. Even on the evening of January 9, opensea was down for a time. On January 10, according to Dune Analytics data, on January 9, Opensea’s daily trading volume exceeded $260 million, the highest level since October 13.
The full name of NFT is Non-Fungible Tokens, which is often translated in Chinese as “non-fungible token/irreplaceable token”. Simply put, an NFT is an entry in a blockchain, which is a decentralized digital ledger technology similar to cryptocurrencies such as Bitcoin.
Although mainstream encrypted assets such as Bitcoin (BTC) and Ethereum (ETH) are also recorded in the blockchain, NFT is different from them in that any NFT token is irreplaceable and indivisible. NFTs are verifiable, unique, indivisible, and traceable, and can be used to mark the ownership of specific assets.
When you buy an NFT token, it means you get its indelible record of ownership and the right to use the actual asset. For example, if you buy a piece of art, it can be displayed and copied, but only you are its actual owner. Therefore, even if the buyer posts high-definition pictures of the purchased NFT works on social platforms, there is no need to worry about being “stolen”.
At present, most NFT works are digital artworks or collectible cards. Some are virtual goods, while others are packaged in common formats like JPEG and PDF. Only a few NFT tokens are a digital record of physical ownership.
Since 2021, the NFT market has ushered in explosive growth. As of early December 2021, the cumulative transaction volume of OpenSea, the world’s leading NFT trading platform, in 2021 reached US$12.91 billion.
William Quigley, a pioneer in the field of cryptocurrency, believes that the metaverse is a huge economic force that will significantly change people’s lives in the next few years. “I think the revenue model of the metaverse will be NFTs.”
Opportunity and risk coexist，hot NFT investing needs more research
As more and more stars and artists enter NFT, the corresponding NFT also enters the market, and the economic behavior of buying NFT also has investment risks.
Because anyone on the Internet can create NFTs with anything, which means that there are many worthless tokens, and enough research is needed to identify what is worth collecting or investing, and this is also a certain threshold exists. Just before the rumored NFT issued by Hayao Miyazaki, it was revealed that the NFT was made by the pictures the publisher bought from a commercial website.
Taking PhantaBear as an example, Jaylen Bear has risen from the lowest floor price of 0.1eth to the floor price of 6.8e, an increase of dozens of times. The big reason is that on the platform of Jay Chou and his wife, it is even more suspected of carrying goods after posting multiple updates. Through the linkage of Jielun Xiong nft to star artists such as Lin Junjie and Mayday, the popularity continued to rise.
With the high popularity and the blessing of stars, participants and even fans enter the venue because of idols bringing goods, the FOMO mood may be higher.
The market changes rapidly. If the price fluctuates sharply, fans may even complain to defend their rights. If the parties to avoid negative impacts, the parties may clear it, which may cause the price to fall further. And the possibility exists.
At the same time, NFT, as a form of metaverse asset, has poor liquidity compared to Token, especially when the buying order is relatively weak. Therefore, when deciding on investment, in addition to doing a good job of the project, it is also necessary to consider to liquidity issues.
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