The Godfather of Currency 4.4: What exactly is NFT? What is the purpose behind it?
News side:
News side:
1. According to The Block, the trading volume of cryptocurrencies in March was 1.17 trillion US dollars. This is the second consecutive month that the trading volume has exceeded 1 trillion US dollars. Compared with the record high of 1.23 trillion US dollars in February, it has dropped up 5%.
2. According to Cointelegraph, Tobi Lutke, CEO of e-commerce giant Shopify, is considering how to integrate his company with the decentralized finance (DeFi) ecosystem. Lutke tweeted out a message yesterday asking the DeFi community what “role” Shopify could play in the growing financial space.
3. The "Economic Information Network" column of CCTV's CCTV-2 financial channel reported on NFT-related content on March 31, introducing the world's first NFT exhibition gallery held in New York, USA, and said that since the outbreak of the epidemic, NFT has recently attracted a lot of money .
Recently, this NFT is indeed very popular, including paintings using its technology, which have been sold for sky-high prices in a short time. So let’s briefly talk about NFT today. Many opinions point out that it is an advanced version of Bitcoin and blockchain 3.0. First of all, the full name of NFT is Non-Fungible Token, which is referred to as a non-homogeneous token.
So different from homogeneous tokens like Bitcoin, NFT is the main concept because of its particularity. For example, normal Bitcoin is homogeneous. When I give you a bitcoin and you give me a bitcoin, there is no difference, but if the bitcoin is numbered, there will be a difference in the number, for example, the number of 666 and the number of 888. Then every bitcoin becomes special at this time, and this numbered bitcoin is a non-homogeneous token NFT.
Because of his various particularities, NFT has been given a new mission. That is to bind a real item as a digital certificate. How to put it, the godfather feels a bit like adding a digital fingerprint to the item forcibly. The earliest NFT was a game called CryptoKitties, the gameplay was very similar to the qq penguins I played when I was a child. Players can randomly generate and trade digital kittens, and each cat is unique with its own number.
And the promotional selling point of this game is that this cat is completely yours, because this game is built on the decentralized blockchain. So in other words, you never have to worry about the game being discontinued one day and you can never get it back. You have spent a lot of effort on creating a game account, and gamers are ecstatic after hearing this news. But in fact, NFT is more widely used in the art market, because the key innovation of NFT is to provide a way to mark the ownership of native digital assets.
And this ownership can exist outside of centralized services or decentralized databases, so this ensures that NFT is still digital and open. Anyone can copy an NFT that is basically the same, but only need to compare the contract address to confirm whether the NFT is real.
Therefore, NFT provides a good idea for copyright, but it is not perfect. Because NFT is a new form of property, in the current NFT market, there are situations where people use other people's works to make their own NFT and make profits from it. And there is a bigger problem with competing blockchain services, and each blockchain can guarantee that the NFT they provide is the only authoritative record.
It's like a house with property rights that can be recognized by two real estate centers, then it is obviously going to be messed up. But there is no way to use power to determine who can prove the uniqueness of the token, otherwise it will be contrary to the idea of blockchain decentralization.
After going around and around, decentralization becomes a concept of consumption, whether it is avant-garde or magical. In fact, the godfather personally believes that this is a group of speculators who are following the logic of NFT, and after burning a copy, they claim to sell the only electronic ownership of the work. Although the NFT was eventually sold at a high price, commercial success cannot be used as evidence of NFT's contribution to art.
In contemporary art, the medium on which works of art are attached has become a concept similar to the art situation. For example, Bebeni and his sculptures can carve hard marble into delicate flesh. His sculptural beauty is based on the carrier of marble, but this is the shock that can only be felt by seeing the entity. But would you still feel the same shock if I destroyed the original and only saw its digital version and a flat digital photo? Is this so-called artistic advancement at the cost of destruction really conducive to the inheritance and development of culture?
4.4 Market Strategy Layout of the Godfather of Coin Speculation
Bitcoin:
In the four-hour level chart, the opening of the Bollinger Bands is downward, and the market is running on the edge of the lower track of the Bollinger Bands. It is now at 57637 points; all moving averages are down, and the currency price fluctuates below them. It will try to fluctuate above the 5-day moving average, and once it stabilizes, it will continue to test upwards, which is the best time to enter the market with multiple orders; in the attached picture, MACD is in a dead cross state, and RSI and Stoch are maintaining a smooth posture. It can be seen that the short-term trend is mostly oscillating.
Operation suggestion:
Operation suggestion:
The godfather of currency speculation has been in the currency market for 7 years. From being ignorant at the beginning to becoming familiar with it later, from losing money at the beginning to making money now, from making orders blindly before to investing rationally now, from fighting alone before to now with a team operate. 7 years is just the beginning, what I want to do is 20 years, forever. I firmly believe that those who do everything for 7 years must turn an industry from a public to a professional. The content of this article is exclusively planned and released by the team of senior analysts, the Godfather of Speculation (public account: Godfather of Speculation). If you want to know more about real-time investment strategies, solutions, methods, trading techniques, operating skills, and K-line, you can add it to my learning Communication, I am the godfather of currency speculation, I hope to help you find what you want in the currency circle.
The godfather of currency speculation has been in the currency market for 7 years. From being ignorant at the beginning to becoming familiar with it later, from losing money at the beginning to making money now, from making orders blindly before to investing rationally now, from fighting alone before to now with a team operate. 7 years is just the beginning, what I want to do is 20 years, forever. I firmly believe that those who do everything for 7 years must turn an industry from a public to a professional. The content of this article is exclusively planned and released by the team of senior analysts, the Godfather of Speculation (public account: Godfather of Speculation). If you want to know more about real-time investment strategies, solutions, methods, trading techniques, operating skills, and K-line, you can add it to my learning Communication, I am the godfather of currency speculation, I hope to help you find what you want in the currency circle.
Reminder: Only the public account of the column (above) in this article is written by the godfather of currency speculation, and other advertisements at the end of the article and in the comment area have nothing to do with the author! ! Please be careful to distinguish between true and false, thank you for reading!
