The launch of the Ouyi OKEx NFT platform broke the NFT market structure. Why are the giants vying to enter the NFT market?
Recently, OKEx, a world-renowned digital asset trading platform, launched the OKEx NFT platform, which supports NFT asset transactions on ETH and OEC. More popular public links will be added in the future.
Imagination, wisdom, art, non-homogeneous token NFT is carrying more spiritual value and increasing interaction with reality. Creation, ideal, freedom, Ouyi OKEx NFT platform is building a bridge for everyone to the future world.
OKEx NFT Market is a one-stop trading platform launched by OKEx focusing on the NFT field. It has three main functions: primary market purchase (NFT Primary), trading market (NFT Market) and my NFT (My NFT). Users can freely create and trade NFTs on the OKEx NFT platform, and can snap up NFTs for the first time in the primary market.
It is understood that three GameFi projects will be launched on the OKEx NFT platform in the first phase, namely Blade warrior, cryptogladiator and crypto universe.
In addition to OKEx, Ali, Tencent, Visa and other traditional giants have successively deployed the NFT market. What is the value of NFT, why are they rushing to enter NFT?
Giants are scrambling to enter the game, how popular is NFT?
How hot is NFT?
According to Google Trends data, since the beginning of the year, the search volume of NFT has increased by 13.7 times; Nonfungible data shows that as of August, the monthly transaction volume of NFT has increased by 19.3 times compared with the beginning of the year; according to CryptoArt data, as of September 2, NFT Total value: $908,822,154.86 (241,032.360 ETH), total sales of artworks: 1,060,968, the transaction volume in August 2021 alone is higher than the sum of the previous three years.
The influence of NFT has even spread outside the circle. In the domestic market, Alipay launched the NFT payment code skin based on AntChain in June. Tencent launched the NFT trading platform on August 1 and launched the first digital art collection. In addition, Leading companies such as NetEase, Visual China, and ByteDance have all made moves in the NFT field.
International giants are also scrambling to enter NFT. The global payment giant Visa announced that it will purchase and collect NFT digital artwork CryptoPunks for US$150,000; Facebook executives said that they are considering launching a digital wallet while building NFT functions.
Driven by the wealth effect and leading companies, the NFT market is rapidly fermenting.
What is the value of NFT?
NFT is a non-homogeneous token, which refers to a blockchain management right, which can prove the authenticity and ownership in the blockchain network in a verifiable way. Examples include ownership records for collectibles, game items, digital art, event tickets, domain names, and even physical assets. NFTs are not interchangeable, thus bringing scarcity to the digital world.
In essence, NFT is an on-chain equity certificate for various digital products. Each NFT is in one-to-one correspondence with physical assets or native digital assets, realizing its unique and immutable on-chain digital identity.
Whether it is a native digital product or an NFT generated by mapping physical items on the chain, in the blockchain network, there is a unique and definite proof of identity and ownership, and its circulation and transaction process can be tracked in time.
NFT enables the redefinition of the generation, confirmation, pricing, circulation, traceability and anti-counterfeiting of digital assets, which not only protects the rights and interests of asset owners, but also further develops the value of digital assets. Whether it is in the most popular fields of art, collection creation, and trading, or in the field of realizing the transformation from physical assets to digital assets on a larger scale in the future, NFT has a huge room for imagination.
At present, the entire NFT industry can be subdivided into NFT digital encrypted artwork, NFT trading platform, NFT financial assets, NFT public chain, NFT games, Metaverse, etc.
Each sector has leading projects, such as Metaverse. NFT is regarded as one of the key infrastructures of the future Metaverse world and an important interface to the Metaverse. Now the popular projects with high attention are Decentraland, Sandbox, Cryptovoxels; public chains carrying NFT transactions, DFINITY, Flow, Immutable X, Efinity, etc.; NFT financial assets, compared to Uniswap's v3 market-making assets, these NFT financial assets are all ERC-721 standards.
The most popular NFT at the moment is the GameFi game sector. The daily activity of games represented by Aixe Infinity exceeded 1 million, the daily transaction volume was 38.96 million US dollars, and the cumulative transaction volume exceeded 1 billion US dollars. GameFi has become another hot project after DEFI, successfully attracting more and more VCs and investors to join in. In addition, the GameFi field has also spawned game guilds like YGG, which have contributed to the development of GameFi.
In addition to Aixe Infinity, the GameFi project CryptoGladiator (Gladiator), which was first deployed on the OEC public chain, achieved 30,000 registrations in 1 hour, over 80,000 registrations in 3 days, and more than 12,000 players online at the same time.
It is worth mentioning that among the first three Gamefi projects launched on the OKEx NFT platform, there is the cryptogladiator (Gladiator) project.
What are the highlights of the OKEx NFT launch?
According to the data of the Feixiaohao platform, OpenSea is currently the largest NFT trading platform, accounting for as much as 78% of transactions, ranking first in terms of transaction volume. On August 26, the total transaction volume of the NFT market OpenSea broke through 3 billion US dollars, hitting a record high. However, most NFT transactions are gathered on the Ethereum public chain, with transaction congestion, high gas fees, and the entire NFT sector is at an early stage, so there are still variables in the future market structure.
Compared with OpenSea, the OKEx NFT market is a one-stop trading platform launched by OKEx that focuses on the NFT field. It supports OEC and has three types: the primary market purchase (NFT Primary), the trading market (NFT Market) and my NFT (My NFT). The main function. Users can freely create and trade NFTs on the OKEx NFT platform, and can snap up NFTs for the first time in the primary market.
The first three projects launched on the OKEx NFT platform are Blade warrior, cryptogladiator, and crypto universe. Among them, cryptogladiator has been deployed and launched on OEC on August 30. Currently, the OKEx NFT platform supports NFT asset transactions on ETH and OEC, and more popular public links will be added in the future.
The main functions of OKEx NFT marketplace can be broken down into:
Primary: OKEx NFT is an initial launch platform for high-quality NFT assets jointly launched by artists, creators, celebrities, etc.
Market: NFT platform secondary trading market, buyers and sellers can trade freely on the Market.
My NFT: Here you can view and create your own NFT or put it on the shelves for sale.
At present, other information about the OKEx NFT platform has not been fully released. Compared with OpenSea, transactions are concentrated on the Ethereum public chain, causing transaction congestion and high gas fees. The OEC public chain can perfectly solve the problems of transaction congestion and high gas fees. And in the NFT market transactions, there is a high probability that the OKEx NFT platform will have no first-sale service fees and second-sale service fees, and no creator royalties, which can provide users with more convenient transactions.
The NFT market is in the early stage of rising, with huge development potential, and there are still huge changes in the future NFT market structure. With the launch of the OKEx NFT platform, more similar NFT platforms will emerge, which will surely break the market structure of OpenSea as a single player, and eventually develop in a diversified trend.
