NFT is Everywhere and What That Means to You
Open the search engine and input NFT, you will find that NFT is being applied to all fields. For example, Beeple’s digital painting 《 Everydays — — The First 5000 Days》, NBA Top Shot, Marvel’s NFT card games, NFT tickets of football clubs, and Professor of Harvard’s NFT made from genome data. According to news, NBA Top Shot has more than one million owners, with a total sales of more than $700 million.
When the NFT become popular, many people took a wait-and-see attitude for a few reasons: first,there is a lack of acknowledge about NFT , especially for many people who have not been exposed to cryptocurrency; Second, some feel the investment has a entry cost. For those who have only heard of an art auction with a price of tens of millions of dollars, NFT is just a game for the rich, and naturally they don’t want to participate in it; Three, they do not trust the current market. After witnessing the turbulence of the cryptocurrency, many people hold little confidence about the encryption market. They worry that NFT will change radically into a new bubble; Fourth, they do not know the purchase channel or sales channel. According to GDF, some people who are interested in NFT have not found a suitable channel to buy it. There are also some people who have the idea of casting their works into NFT, but they are struggling to find a platform.
Although NFT related games appeared more than three years ago, NFT became a household name around March this year. GDF has introduced NFT in detail before. If you are interested, you can click here . In short, NFT is the non-fungible token, which is unique and can’t be replicated. Because NFT is cast on the blockchain, NFT has some similarities with fungible token. For example, NFT transaction is open, transparent and non-tamperable，it’s easy for us to think about the copyright of works of art. For example, a painter casts a painting into NFT and sells it. Even if everyone can download the same painting on the Internet, the ownership of the original painting belongs to the buyer. NFT has more advantages than traditional art collection, such as reducing the storage cost of the collection, reducing the possibility of forgery, and so on. Due to the popularity of fractionalization of NFTs, the threshold of NFT collection is reduced, and the liquidity is increased. Thus both NFT creators and collectors can get better income.
The essence of the fractionalization of NFTs is to divide the ownership of an NFT. The NFT fractions are fungible. If all the fractions are collected, the complete ownership of the NFT will be obtained. If you think a complete NFT is too expensive, or you are not sure of its value, you can choose to buy its fraction share. If an NFT is worth 1 million dollars, break it into 10 thousands shares, then, as ordinary people, we can afford a $10 NFT fraction.
Some time ago, due to various reasons, the cryptocurrency market plunged. Many people worry that the current NFT market is just capital hype, and the future development of NFT may not be clear. GDF believes that time is the biggest enemy of bubbles. In today’s market, NFT development is more and more concerned. The public will learn more about NFT and accept it. The real value of NFT will also be widely appeared in life, and the bubble will disappear.
In order to meet the coming of the NFT era, GDF has made full preparations. GDF, which has been committed to blockchain research, will soon launch the NFT platform GoodData, which focuses on NFT metadata storage, NFT transaction, NFT fractionalization and auction, and to provide a safe and reliable infrastructure guarantee for dealing with a large number of NFT users and transactions. From the user’s point of view, GoodData provides people a simple and easy way to trade, and ensures the user’s property security with innovative technology.
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