Andy Warhol's NFT debut auctioned for $2.8 million, or detonated a new wave of investment
In the digital currency market that is gradually calming down, the NFT sector is still running wildly.
On June 24th, the Binance NFT trading platform, which has been brewing for nearly half a year, was finally launched, with a "Genesis" themed auction jointly held by TRON and the APENFT Foundation.
At this themed auction, the famous Pop artist Andy Warhol's "Three Self-Portraits" NFT works were launched on the Binance NFT market. This is also the first NFT auction of Andy Warhol's works in the world.
"Three Self-Portraits" can be said to have made a good start for Binance's NFT sector. It took less than 2 minutes on the first day of its online auction to fetch a bidding price of 2.52 million US dollars, and finally sold at a price of 2.8 million US dollars.
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The digital currency market is washed away by big waves, and the NFT track stands proudly at the forefront
Looking back at history, the NFT market has always been placed high hopes by the industry.
In the bull market of 2017, the use case of NFT was unveiled in the chain game application of CryptoKitties, and chain games imitating CryptoKitties became the first applications of NFT tokens.
Soon, the non-homogeneous and indivisible characteristics of NFT began to attract the attention of the real world. Assets such as collectibles, art, games, virtual platforms, sports, fashion, etc. gradually tested the waters of NFT, hoping to eliminate existing pain points .
In 2021, NFT began to frequently and intensively interact with the real world, not only becoming a link between the chain and the chain, but also leading the encryption circle to the mainstream.
First, at the beginning of the year, the "NBA TOP SHOT" officially authorized by the NBA detonated the NFT trading market. Immediately afterwards, the "Everydays: The First 5000 Days" series of NFTs created by encrypted artist Beeple sold for a high price of nearly US$70 million at Christie's, setting an industry sales record.
In addition to Beeple, celebrities such as trend artist Takashi Murakami, Grammy Award winner The Weeknd, and tennis superstar Naomi Osaka are also embracing trends and trying to turn their works into NFTs.
In recent months, although the decline in the cryptocurrency market has reduced the popularity of NFT topics, the NFT market is still restless. With the support of all parties, the NFT market has become a potential market of tens of billions.
Whether it is the outside world or stock users, people's participation in the NFT sector is deepening, and mainstream groups are beginning to enter the market intensively.
First, eBay, which has nearly 200 million global users, suddenly announced that it would allow users to sell digital collectible NFTs such as trading cards, pictures or video clips on its platform. Not only will its nearly 200 million global users get more convenient NFT purchase channels, but for the NFT industry to get out of the circle, it is also a piece of infrastructure to help the NFT industry get out of the circle.
In addition to eBay, an overseas e-commerce giant, recently, large companies in the Chinese market have also proactively begun to deploy NFT.
On June 23, Alipay and Dunhuang Academy of Fine Arts jointly released two NFT tokens and NFT skins, with a global limited edition of 16,000 copies, which were sold out shortly after the release. Later, it was also reported that on other second-hand trading platforms, some sellers offered hundreds of thousands or even millions of second-hand transaction prices, which aroused heated discussions inside and outside the circle.
After experiencing the market education of large companies and industry practitioners, the public has a basic understanding of NFT.
Looking at the entire industry, the art field is currently the most promising direction for NFT applications. Through NFT, the spread of artworks has been enlarged, and the circulation on the chain has also brought new value-added space to it.
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Behind the success of Binance, the powerful NFT foundation APENFT surfaced
Under the gap of NFT products and service opportunities, various exchanges have recently launched their own NFT platforms to support investment products that can make NFT investment more popular.
At present, Huobi, Gate.io, Binance and other exchanges are all making efforts in the direction of NFT. And this auction of a large number of high-quality art collections has allowed the belated Binance to successfully enter the first echelon of the NFT trading market. Whether it is in terms of NFT work resources, quality or sustainability, it is far ahead.
Why Binance can quickly catch the attention of the market?
This is because,The core competitiveness of exchange players still depends on their ability to explode NFT products.That said, resources matter. When investing in NFT tokens, investors often can only judge the value of NFT through the IP linked to the NFT. Therefore, an IP with investment value is enough for users to vote with their feet.
The NFT work of Andy Warhol's "Three Self-Portraits" that detonated the market this time has verified Binance's resource strength in the NFT market.
And when Binance stood on the first echelon of the NFT trading market, the promoter behind it and the resource provider APENFT Foundation also surfaced.
The APENFT Foundation has been focusing on "blockchain + art" innovation, hoping to promote the NFT and blockchainization of the world's top artworks, and bring art back to the public.
The APENFT Foundation has a wide range of business directions, including: investing in and deploying top NFT platforms and works, incubating top NFT artists, providing a bridge for traditional top artists to enter NFT, sponsoring art galleries, organizing art exhibitions or publishing, setting up awards, supporting Art creation and art criticism and building related art collections.
The generous art investment made the APENFT Foundation out of the circle at the speed of light, and made a wonderful appearance in the art and NFT market. As of today, the total fund size of the APENFT Foundation's collection is close to 200 million RMB, and it has also reached in-depth cooperation with Christie's, Sotheby's, and Nifty Gateway, three major NFT auction platforms.
I learned that APENFT is actually backed by the super IP Justin Sun’s support and assistance, backed by the growing Tron ecology. Even the work "Three Self-Portraits" was personally selected by Justin Sun.
At the beginning of this year, Justin Sun threw hundreds of millions of RMB at auctions one after another, taking Picasso's masterpiece "Reclining Nude Wearing a Necklace", American artist Andy Warhol's "Three Self-Portraits", and encryption artist Beeple's "Ocean's "Front", a complete set of NFT works by encrypted artist Pak, and other paintings, and many collections were donated to the APENFT Foundation to support the innovation of "art + blockchain", which enriched the first wave of high-quality collections for the APENFT Foundation collection library.
In early May, the governance token "NFT" of the APENFT Foundation became the first project after the restart of Huobi Prime.
At the same time, Justin Sun also gave APENFT huge technical support. TRON is providing underlying technical support for the APENFT Fund, combined with Bittorrent (BTT), the world's largest distributed data storage system. Coupled with the newly launched TRC721 protocol, it can realize the NFT of artworks and quickly improve the market efficiency of global artworks.
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NFT+ artwork, a win-win choice for two worlds
Under the bull-bear alternation, the digital currency market has been pressed the fast-forward button. Internet celebrity concepts such as "animal currency" have only been popular for a few weeks before returning to calmness. Some people worry that the NFT market will repeat the same mistakes.
So how long can the NFT sector be popular? Is the NFT track a flash in the pan or a value track with long-term potential? Will the NFT sector help exchanges reconstruct the future trading market structure?
In fact, the birth of NFT + artwork application is a two-way journey between the real world and the world on the chain, and it is also a win-win choice.
For the real world, the biggest advantage of the NFT sector is to create new value for the physical industry. NFT helps art collections to obtain better liquidity, and from the capital side, it solves the core difficulty of retail funds entering the market.
For the on-chain world, NFT+ artwork also brings a brand-new concept category to all digital currency investors.image description
Picture from Guosheng Securities Research Institute
Compared with various air projects that are mixed with fish and dragons, these "NFTs" that are linked to master artworks, help art collections to become NFT, and obtain new circulation scenarios are the more sustainable investment categories.
On the market, there are many investment categories that focus on the concept of "providing people with a closed loop of art NFT investment". For example, the "NFT" launched by B20, WHALE, and APENET are all working hard to solve this pain point.
Taking B20 as an example, the NFT fund Metapurse once issued NFTs of 20 Beeple works worth $3.5 million on the Ethereum chain and issued B20 tokens. The total number of B20 is 10 million, and each piece represents the ownership of the high-value artwork behind it. Moreover, after the follow-up Beeple work was sold for a high price of 70 million US dollars, B20 also quickly surged by 89% within 30 minutes.
APENFT, the provider of Binance’s high-priced auction of NFT works, is also committed to achieving a closed-loop investment in NFT artworks with a lower threshold for investors.
Although there have been many huge auctions and out-of-circle events in the NFT market this year, the fly in the ointment is that ordinary users can only be spectators of "NFT+art".
The six- and seven-figure auction sums are often beyond the reach of small and medium-sized investors; even if they hold a lot of money, most people still lack the vision and experience of "selecting products". This has also directly led to the lack of wealth effect in the NFT sector, and retail investors are more willing to try small currencies with "ultra-low unit prices".
On the whole, from multiple dimensions such as backing value, brand endorsement, unit price, and richness of gameplay, APENFT on the NFT track can be regarded as the most anticipated dark horse player in the current market.
At present, the APENFT governance token "NFT" has landed on the secondary market, and the price of "NFT" is also closely related to APENFT's investment decisions, sales efforts and return on investment in the art market.
"NFT" is an excellent channel for ordinary people to participate in art investment. At the beginning of the launch, the initial unit price of "NFT" is 0.00000012 US dollars. For small and medium investors, "NFT" is a low-threshold currency, and the currency price is also strongly anchored by master artworks, closely linked to the art collections in the hands of the APENFT Fund.
Behind the "NFT" token is not only the investment vision of the APENFT team, the art collection worth 200 million yuan, and the resources of Christie's auction house, but also the right to jointly manage the APENFT fund for investors.
With the blessing of the old-fashioned exchanges, NFT has become a battleground among exchanges, and it has also sounded the clarion call of a new era of deep links between the real world and the world on the chain.
The recent layout of Binance also reveals their determination and action to deeply participate in this track.
On the one hand, it is to introduce more high-quality NFT assets. At present, Binance’s trading sector covers many different types of NFT products such as art, sports, music, games and e-sports, entertainment, etc., to meet the trading needs of various users.
On the other hand, Binance is still exploring new ways to play NFT transactions. In addition to top-tier IP works, it has also launched blind box functions to attract users to participate in NFT transactions.
In the future, how the powerful combination of Binance, Tron, and APENFT will reconstruct the top structure of the NFT era may take time to verify the results.
Right now, the wave of NFT is already unstoppable, and the cooperation of Binance, TRON, and APENFT is injecting new impetus into the industry. It is extremely optimistic that the competition among these participants in the NFT field is pushing the NFT industry forward and pushing the NFT industry to a brighter future.
