The development of NFT market and the use for Slash Web3 Payment in it
Hi! Friends,recently Slash participated in an event called “NFTTokyo” in Japan!
In the recent NFT market, the ‘freemint’ model continued to be hot in July, but it was difficult for investors to make money from it as they could not keep up with the short-term cycle and the projects were crowded.
Therefore it is essential for investors to gather information for the next bull market cycle ✌️
The NFT is now seen to have three main areas:
「practicality」 x 「entertainment」 x 「technical/legal value」
Thesedays,a lot of people ask:
“Why does it have to be blockchain?”
The Tweet from Leonidas.eth shown below can help further understanding, and it’s also interesting to see how the market segment has reached consensus.
We will summarize the NFT market trends and explain the possible use of “Slash Web3 Payment” in the NFT market.
Anyone can easily build a Slash Web3 Payment payment URL on the test site, so give it a try ✌️
Global NFT Market Trends for July 2022
As you can see in the latest examples of ‘Doodle 2’ and ‘Clone X’, wearable NFTs and NFTs that are conscious of the ‘X to Fun’ model such as providing 3D files are likely to continue to be popular.
https://twitter.com/ArtbyCrea/status/1544042298828283904?s=20&t=7RoItO7NkJRR-JksUa6t0w
So far, the NFT market has grown rapidly by attracting speculators and capital through a business structure that emphasizes first profits, but the ‘freemint’ model of NFT is further reinforcing the ‘entertainment’ element.
For example, the recent hit “Goblin Town” and “The Saudis” projects are examples of this.
Some of the NFT projects that have now formed IP will continue to be developed into “X To Fun” models in the future by gaining fans from outside the NFT/encryption space.
With the slogan “You can empower your ecosystem with productivity and brand value.” as the slogan, such projects are expected to be very popular.
Although we think it is a little difficult for other projects to replicate the success of “Goblin Town” again, such projects bring a lot of entertainment elements to the market（Such NFT-type offline activities are also interesting, as follows）
（So far, the price of “Goblin Town” has not plummeted.）
・Creating IP with NFT
In this sense, we will continue to focus on emphasizing its “entertainment” nature.
The cryptocurrency market is continuing the profit-seeking nature of the capital market. Every day a new NFT project becomes hot, but its price also slips quickly. We are looking forward to seeing the next BAYC IP with life.
Personally, I’m looking forward to seeing the dynamism of NFT in terms of both ‘practicality’ and ‘techno-legal’.
The current status of NFT projects around the world
Regarding content branding, the “x to Fun” model is the mainstream in the market now. But if you take a closer look at the recent developments of “The Saudis”, you will find some interesting points.
The “boasting of the project’s style” ,“the manifestation of capital strength” ,“the wide spread of KOL” and“the satisfaction of buying the image of the oil king”.
These characteristics are the full expression of this project’s entertaining nature.
It is undeniable that in the cryptocurrency space, which is full of counter-culture ideas, it can be said that the obsession with ‘entertainment’ is an essential theme.
Looking beyond the entertaining NFT projects like “Goblin Town” and “The Saudis”, the mainstream market attention is still on blue chips like Azuki and BAYC.
Azuki collaborated with Jay Chou:
American Eagle’s NFT clothing store opening (4 NFT IP including WONDERPALS)
Now it seems that the existing IP cooperation will continue to increase in the future. In addition, the combination of NFT and defi has brought innovation to some extent in terms of both “practicality” and “technology (technical/legal)”.
In “Tokenized Real-World Asset”, which tokenizes real-world assets such as invoices and mortgages, efforts are also made to issue or embed NFTs with legal documents related to these assets, which also serve as a link between the real world and defi.
NFT Trends in Japan
Influenced by events such as IVS and NFT Tokyo, the Japanese market is in the midst of a Web3 boom, and large-scale financing in the GameFi sector is conspicuous.
・Oasys
Looking back at this time last year, when most market participants were still in the process of figuring out “what NFT is?”
So the formation and expansion of the entire Japanese NFT market has come a long way in the past year. The market size is small compared to the volume of overseas NFT projects, but if you look at the examples below, you will see that Japanese NFT is a different trend from the downward trend (or delayed trend of 3–6 months) overseas.
・NENSTUDIO
・GHOST IN THE CODE by Kazuhiro Tanimoto
・The future of the NFT market in Japan
The NFT boom itself has faded due to the drop in Ether prices, but investor interest in premium NFTs such as “MEGAMI” and “BOSO tokyo” is increasing.
・BOSO tokyo
・MEGAMI
The newly released NFT project carries a strong “Surprise to Fun” attribute due to its extraordinary planning ability. However, Japanese NFT is characterized by high artistic quality, such as delivering Japanese IP content overseas.
The Japanese market will come into play after July. In some cases, we are already working with major IPs and we can see the entire ecosystem of the Japanese NFT market expanding.
In addition, some companies use NFT for promotional services as their business.
We expect a more diverse and broad market to develop in the future.
The use of “Slash Web3 Payment” for the NFT market.
Reading this you may be thinking: I have briefly understood the overseas/domestic NFT market trends, then what?
Even across chains, there are instances where investors can’t keep up with the advice.
For example, Solana and Avalanche’s NFT project 「freemint」 are booming, but many investors are not aware of it. And when buying NFT in secondary circulation, SOL and AVAX are designated as payment currencies, which inevitably brings exchange rate losses due to the recent price drop.
If you try to use the “Slash Web3 Payment” system to automatically exchange/settle the crypto assets you want to receive at the best exchange rate.
Our goal is to popularize highly convenient and seamless cryptocurrency settlement using these features.
So as long as it is related to cryptocurrency transactions, you can use slash web3 payment to avoid exchange rate losses and make the whole process easier.
lets try Slash Web3 Payment now:
