Editor's note:
ThePrimedia jointly launched the "Multidimensional Symbiosis" series AMA LIVE with the FORSIN community. Among them, the "Path to knowledge" and the "Path to connection" ended brilliantly last week, guiding a large number of crypto ecological builders to discuss how Web3 integrates with virtual technology, changes relations of production, and reshapes economic culture. Today's (July 27, 21:00) "Path to exploration" focuses on the new model of the creator economy, and discusses how to give content consumers a better experience in the Web 3 era; "Path to operation" at 21:00 on July 28 focuses on the global operation of Web 3, discussing the differences between Chinese and Global Web 3 markets and the advantages and disadvantages of Chinese projects in the Web 3 field.
On the basis of the AMA theme discussion, ThePrimedia will select the core elements for supplementary interviews, follow-up reports, and form a "Multi-dimensional Symbiosis" series, so stay tuned.
————————ThePrimedia Founder Jerry
PFP is thriving, while NFT requires immediate restructuring!
PFP is the culmination of the NFT frenzy, but it will not be the end of the feast. At the top of the PFP wave is Yuga Labs' "BAYC". Since April 2021, "Bored Ape" has been at the top of its game, directly surpassing the former dominant player "Cryptopunks", and has been directly crowned as the strongest NFT ecosystem and community. The most powerful NFT eco-system and community is the one that has become a god. Under the bear market gloom, NFT can be described as miserable. In the past month, the volume of Ether NFT transactions dropped by up to 55%, and the average selling price dropped by up to 71%. At a glance, NFT is full of devastation.
Although NFT is declining, launching the innovation to save NFT will give our souls a place to live. In this infinite game of life, we need to store and put our private property in the information space with the highest concentration of information technology, and turn it into a digital equipment package with a kernel of spiritual slices, so that we can roam DeSoc without distractions and hold NFT in our hands to all stars.
PFP is part of NFT, but certainly not intrinsic to NFT. NFT paths are at least: PFP, streaming media (audio, video, images), NFTfi, artwork ...... more subdivisions such as virtual digital people developed by VOKA AI, digital space services provided by Desert Space and NFT full-stack solutions created by Wormholes, etc. will come later and become potential players in each segment.
When NFT falls into DeSoc, when multi-dimensional symbiosis becomes the resting soil of the new ecology, virtual technology needs to change the current point-like, fragmented fast-food hype of NFT in order to realize the integration with real people to get rid of the material shackles of mere pan-heads and squeeze on the last train of human beings to the meta-universe. As Guo Yong, the founder of CFL, said, the boundaries between the meta-universe image action database and the live action field will become increasingly blurred, and we will look forward to the Normandy login moment of NFT in the future.
NFT is the sugar coating to wrap wealth, the carrier of spiritual slices, and the habitat of the human soul.
NFT in DeSoc: The Spiritual Carrier of Game Life
To travel the high-speed train to the NFT in DeSoc, you must move from the physical carrier to the spiritual carrier at the transition station.
The material carrier is the theoretical starting point of NFT, while DeSoc is its promised land. Currently, NFT is mostly focused on the topic of profile photos, as exemplified by PFP, which is an extension of Web 2 social thinking. Its primary driving force is still speculation, which appears to be active, but it has failed to identify the true demands of 7 billion people for NFT, and liquidity has become the drumming and passing flowers of a few individuals. In the absence of a market environment, it is impossible for actual users to remain, similar to weird performance art.
In the process of transitioning from the material to the spiritual, what sort of benefit does decentralization need to bestow to me?
- We need DeFi to revolutionize a financial system that is not friendly to ordinary people;
- We need DeSoc to create a future society that belongs to individual nodes;
- We need NFTs to find a quiet and peaceful habitat for wandering souls.
After traversing countless oceans and mountains of material carriers, only NFT can wrap our spirits and take us to the opposite side.
NFT creates a different and integrated protocol between node and edge, which will be a new generation of the World Wide Web encompassing all members of DeSoc. Imagine a decentralized society in which everyone participates within the NFT spiritual shell. The non-homogeneous characteristics are the identifiers of individuals, but the unique soul center is the locator of individual worth.
For instance, when Desert Space entered the three-dimensional world in the flat world to create alternative interactive scenes, it collaborated with the top-ranked design school at an Ivy League university to develop a three-dimensional world emoji that enables users to quickly create their own digital space and acquire their own NFT spiritual shell.
Equipment packages must be equipped for the game life. We must place our private property in cyberspace in the form of NFTs with the largest concentration of information, so that we may traverse DeSoc without interruption and maintain NFTs on several interstellar worlds.
On the path to the meta-universe, we upgrade NFT, DeFi, DeSoc, and SBT... to combat monsters. In the archival game of decentralized existence, DeLife, we assist each other in aiming high and living forever. And all of humanity's actions are creating the huge physical reality in front of us and the epic encrypted story of the future. As the creator and owner of private property, DeSoc must redefine the value of the human being. In a "community" made of 0s and 1s, law and code are required initially. Human is binary.
The private property of individuals is holy and inviolable, and it is constantly updated to reflect the progress of human civilization. A pair of boys and daughters from a farming civilization are private property, as is a car from the industrial period and a collection of NFTs from DeSoc. When we enter a decentralized society, our private property will be quantified in tokens, beginning with BTC, then DEFI, and finally NFT... In the future, further token classifications will develop.
FT and NFT tokens are the two distinct types of tokens. The former is a homogeneous token that represents undifferentiated and universal private property, such as various tangible assets, material wealth, legal currency, and debts, whereas the latter is a non-homogeneous token that represents differentiated and unique private property, such as our will, thinking, and emotions.
The reason non-fungible tokens are not homogeneous is that "human happiness and sadness are not identical." There are hundreds of millions of unique human individuals capable of creating the brilliant and varied world we see before us. Each person has his or her own universe, which includes not only the exterior equipment displayed, but also his or her inner meaning and value.
NFT is the information shell that identifies our distinctive distinctions and the spiritual carrier of our gaming life. Its conception and development mark the end of organized civilization.
The current status quo of a centralized society consists of a very unequal profit distribution in an ordered, bureaucratic society. Any novelty must be warped into a fitting appearance, individual distinctions are eliminated, and it eventually loses its drive to advance. The power is etched into the past era as a worker bee in the hive. Future society must be built on the rehabilitation of decentralized social logic.
A society that is self-organizing, decentralized, and sustained through distributed relations of production, which supports the maximizing of individual-social interests. In the future centralized society, the NFT is responsible for the bearer of the indivisible worth of persons, the DAO is our production workshop, and the DeFi is responsible for the operation of the financial system... and these wholes comprise the essence of DeSoc.
- NFT maximizes its strengths and demonstrates its distinctions;
- DAO governance, encourage innovation and respect characteristics;
- DeSoc seeks common ground while reserving differences and pursuing efficiency.
First and foremost, the rebuilding of the logic of a decentralized society is motivated by the maximizing of personal-social advantages. Under the new framework of game theory, egoism has lost its enchantment. New alterations have arrived on the main stage. Adam Smith, a giant in the field of economics, originally promoted the "invisible hand" principle: "In a market economy, everyone begins with self-interest, but ultimately the entire community reaches altruism." However, Nobel laureate John Nash's "Nash equilibrium" in economics adds a limit: "Starting from self-interest, the result of the game is to injure others and not oneself, neither self nor other." It is evident that the maximization of personal-social goals is predicated on avoiding damaging the interests of others.
To eliminate the game of a few individuals and enhance personal-social advantages, production workshop DAO governance is required. Under this kind of government, undifferentiated democracy will enable the majority of people to participate in NFT jointly. Members work together to construct the entire DAO organization by virtue of their own skill and subjective will, and the DAO organization will encourage individuals by utilizing each member's contribution to form a common interest.
The path from DAO to NFT is full of upgrades and monster battles. When there is no longer a threshold for ordinary members to obtain rights and interests; when ordinary members and development team members can rely on contribution to obtain voice over; when each member can increase their participation by exerting subjective initiative to gain incentives; When cumbersome bureaucracy is abandoned, individuals become organizational nodes... The DAO's smart contracts and underlying technical tools provide the groundwork for broad engagement, which will foster the growth of the NFT's national community.
On the path from DAO to NFT, NFTfi becomes the financial system's management hub. Whether it's custody, leasing, lending, portfolio, asset management, or deposits and taxes, NFTfi creates a central control room for all of these functions.
As the primary producer of NFT liquidity, NFTfi will achieve the smooth financialization of the NFT economy and ultimately establish a financially harmonious NFT society with a high level of user autonomy. Through custody, investment portfolios, asset management, etc., this financial management center enables NFT owners to increase their assets at a sustainable rate of return. By negotiating leases, loans, etc., non-NFT owners can get short-term use rights to NFTs. With the assistance of both parties, NFTs are able to obtain adequate cash, thereby creating productive financial soil.
All nodes engage in the NFT in DeSoc, which maximizes personal-social interests and encompasses the individual soul. The content data of creators can directly correspond to value through trusted encrypted assets, which greatly stimulates the birth of high-quality content; Monopoly and oligopoly effects are greatly weakened, making big data + encrypted assets a very good virtuous circle system.
On the path to DeSoc, NFT and different Token methods, DeFi apps, and DAOs must be highly integrated. The public chain WormholesChain can easily cast circulating NFTs at the chain layer, and the contract layer is also compatible with all NFT functions, allowing any user to quickly create a trading center like Opensea with one click, to cast, circulate, and trade NFTs without gas fees at low prices, and to truly rely on non-homogeneous features to construct DeSoc's building, as opposed to simply staring up at the sky in the narrow well of digital collections.
Individuals utilizing NFTs in DeSoc will find them to be as natural as breathing. NFTs in DeSoc must be nodal NFTs, and DeSoc requires a dedicated area for transporting NFTs. This will be a new universe that combines material and spiritual ties and collects diverse nodes and DAOs.
Physical Enclosures: A Frontier Form of Virtual Technology
If NFT is the spiritual carrier of game life, then the technology at its farthest edge is NFT's material shell.
The essence of NFT is the recognition of the value of homogenous tokens, which is augmented with non-homogenous and limited values. The additional portion represents personal value that cannot be quantified or purchased, and is synonymous with originality and rarity.
- In the real world, physical objects generally represent fungible items, such as a coin, a notebook, or a sugar cube;
- In the context of DeSoc, FT is a fungible token, such as one bitcoin can be replaced by another bitcoin;
- In the world of NFTs, NFTs are unique tokens that can be both a carrier of digital assets and a representative of traditional physical goods (such as concert tickets, clothes or sneakers).
The unique material exterior of NFT represents the leading edge of future virtual technology, and its underlying logic is derived from three progressive smart contracts. From the evolution of ERC-721, ERC-1155, and ERC-4907, we may discern the fundamental elements and characteristics of NFT.
The original ERC-721 contract governs the distinction between NFT and FT. Under the ERC-20 standard, each token requires a single contract, whereas under the ERC-721 standard, each token requires a separate contract. The resulting NFTs can be classified into the following categories:
- Physical property - houses, unique artwork
- Virtual collectables - unique pictures of kittens, collectable cards
- "Negative value" assets - loans, burdens and other responsibilities
On the blockchain, no two blocks are identical. Therefore, the ownership of each NFT must be recorded independently. For instance, the Land Staking (land pledge) initiated by the NFT game Axie Infinity at Ronin block height #15020573 treats each piece of land as a distinct NFT, and each asset must track its ownership independently and atomically, accomplishing the goal of differentiating assets. When the user Terms of Service service converts his own NFT into a 3D virtual stand-in on the VOKA AI platform, the platform verifies the NFT's ownership. Using it requires merely logging in through the wallet and downloading it to the application side, essentially resolving the data ownership and decentralization issues.
Enhanced ERC-1155 The contract is a fusion of NFTs and FTs, enabling the hosting of multiple types of FTs and NFTs in a single contract. Multiple token types can be combined in a single contract to save money by avoiding the requirement to "approve" each token contract individually.
The phased casting of Adidas is the most typical example of using the ERC-1155 standard, as it transports all homogeneous and non-homogeneous Tokens through a single contract, as opposed to complex interactions through several contracts. In the case of Adidas, all NFTs share a Token ID, which is convenient, fast, time-saving, and labor-saving. Furthermore, by guiding users to collect, destroy, and exchange in four activity stages, it is more in line with the intersection of marketing and human nature, providing users with a unique experience similar to NFT clearance games.
An enhanced variant of ERC-4907 The contract provides the first indication of NFT's character. ERC-4907, as an extension of ERC-721, can not only accomplish the separation of asset use rights and ownership, but also revolutionize the "automatic expiration" function of assets. When assets are included with the "expired" designation, it signifies that personal value can be valued in addition to being leased, which expands the options for studying the financial framework of NFTs in the future.
The NFT standard (EIP-4907) revolutionizes the NFT rental business. Renting an NFT allows users to experience and enjoy it for a particular time without totally owning it, which is similar to the behavior pattern of people who hire a luxury car for a short length of time when they host a wedding. The NFT rental market also offers a diverse selection of NFTs, including in-game assets, virtual assets, digital art, financial NFTs, and collectibles. A simple and inexpensive rental business can reduce the entry barrier for consumers into Metaverse or GameFi, while effectively increasing the liquidity and availability of NFTs.
Raise your arms and shout, and numerous individuals will answer. NFT rental market Through the setup of dual roles, the separation of NFT ownership and usage rights is achieved, and the automatic recovery of usage rights when they expire is implemented. It allows for the leasing of virtual land in Decentraland and in-game assets in the popular GameFi project Warena. This will also drastically minimize the integration costs for real NFT leasing, such as gaming, metaverse, etc.
From the evolution path of ERC-721, ERC-1155, and ERC-4907 three-level contracts, we can discern the logical context of NFT development, from one-to-one to one-to-many, and then to raise the derivative function of financial qualities, which is akin to an upward spiral.
When the underlying smart contracts give rise to the unique material shell of non-fungible tokens, the meta-universe provides a space for free-blooming activities. The Web.3 functionality, according to FORSIN, is built on on-chain applications that can communicate with one another via various smart contracts and in the form of NFTs. It may be a meta-universe of many projects or multiple meta-universes. It enables travel between several meta-universes, hence expanding the physical space and spiritual terrain for the development of NFTs.
Under the immense ocean and sky of the meta-universe, virtual technology has evolved into the shape that everyone anticipates. Under the guidance of virtual technology, the meta-universe will surpass 2D screens and immerse people in a magical immersive experience; it will surpass physical assets in the traditional sense, and include digital assets such as virtual land under its command to create a new asset system in the future environment; it will expand The physical boundaries of human existence, write grand narratives across borders, and collaborate with NFTs to jointly create the next evolutionary step; and it will expand The physical boundaries of human existence, write grand narratives across borders, and collaborate
The forefront development of virtual technology begins with the evolution of 3D animation, and its primary rationale is to push the artificial intelligence of Web 2 into the virtual reality of Web 3. CGYear, the pioneer of 3D animation, has been utilized extensively in automatic voice recognition, speech comprehension, speech imitation, digital people, neural radiation fields, etc. The production of its virtual reality scene can not only drive expression animation through voice, but can also drive body animation through emotions, successfully constructing the prototype of Metaverse virtual technology.
Lowering the barrier to entry is always a prerequisite for the development of new technologies. The rapid development of NFT under DeSoc necessitates the widespread adoption of virtual technologies. VOKA AI is a virtual digital person R & D firm based on the science of artificial intelligence. It can link to emoji via current apps, and these actions can only be triggered when users speak or listen to music. Although the cost of the first data set stack is extremely high, once it is built, the cost of creating virtual animations can be reduced rapidly, and the barrier to user participation in the meta-universe can be significantly lowered.
When the frontier forms of virtual technology change with each passing day, and when NFT becomes the carrier of sugarcoating and spiritual slices wrapped in wealth, we can anticipate that the path of NFT will expand from PFP to other fields. According to FORSIN architect Septsaber, "future virtual technology will have a significant impact on NFT + Web 3; centralization is dead, and the future is bright."
Path Choice: From Wrapping Our Souls to Wrapping Human Society
Blockchains are not consortium chains, and digital collections are not NFTs. PFP is a component of the future, but it is not the future itself. PFP, streaming (audio & video, pictures), NFTfi, artwork, and further routes lead to NFTs.
The exterior covering of the soul is NFT. Imagine a decentralized society in which the Tower of Babel, in the absence of reciprocal communication, leads to social fragmentation and war. Our soulmate will constitute an NFT couple. Current NFT development is still driven by speculation, and it is difficult to keep real consumers in an active market environment. More gameplay exploration is required.
The initial stage for NFT empower participants will be collaborative production, and Write to Produces will be further from Pond's than Play to Earn, giving NFTs a more stable economic base. On July 11, the NFT co-created the novel Bored & Dangerous based on BAYC, allowing users to vote on the course of the plot. The 3,000 members of the Writer's Room can vote on each character's backstory and the novel's overarching plot. As a decentralized writing community, Writer's Room grants community members the right to unlock the storyline by holding their NFTs, including voting rights on the title, genre, plot, ending, cover art, illustrations, etc. Continually, multidimensional concepts will arise, completing the transformation and upgrading of the current edition.
If collaborative production is the initial step in NFT participant empowerment, then virtual technology is the initial step in enabling decentralized products and services for NFTs. From the NFT supporting tools provided by the dedicated public chain of Wormholes to the virtual video tools of VOKA AI to assist users through artificial intelligence, to the creative tools that China Film uses every year to enable creators to capture animation data without wearable devices, and then to the NFT supporting tools provided by the dedicated public chain of Wormholes. Desert Space's state-of-the-art expression and emotion control technology provides robust technical support for the full blossoming of NFT, providing boundless imaginative space to the meta universe's magical scene.
Changes in production relationships will also spur innovation in the financial system. The more "useful" usage of NFT is illustrated by NFTfi's financial products. Whether it is custody, leasing, lending, portfolio management, asset management, deposits, or taxes, they all contribute to the construction of the NFT financial building and sustain the NFTfi financial landscape.
Portfolios are the lifeblood of the financial industry and the foundation of the NFT investment community. Floor, a tool for monitoring NFT portfolios, utilizes the bond mechanism developed by DAO to accumulate NFT liquidity and earn income. It functions by centralizing NFT assets in an asset bundle, producing a fungible ERC20 token that can be sold on exchanges. These tokens are backed by NFTs in bundles of redeemable assets. The liquidity of NFT is low, but its growth is enormous, and convenient instruments will provide market diamond players with greater profits.
Around the investment portfolio will be derived from the NFT field of aggregated income, arbitrage is always the true source of liquidity in the industry, decentralized NFT liquidity also requires the participation of market makers, as evidenced by the tragedy of DeFi, and decentralized NFT market makers are optimally on-chain.
Investment portfolio is accompanied by the artifacts of money management. Yearn, a DeFi income aggregator, has launched the NFT project treasury management tool NFTreasury. Using the NFTreasury tool, it is possible to determine the percentage of project funds needed in the short term (i.e., within the next six months) and convert the short-term funds required by the project into Ethereum and USDC. Money management serves as the portfolio's custodian, while income aggregation increases with liquidity, which provides a reservoir for market volatility.
After NFT market capacity reaches a sufficient level, compliance issues will also emerge. Historically, art investments have been associated with tax evasion. Due to the openness of NFT, this issue will have a place to hide.
The crypto tax services provider ZenLedger has introduced similar services. When importing a user's bitcoin transaction history, ZenLedger calculates the cost basis, fair market value, profit and loss, and tax liabilities for each cryptocurrency transaction. Users can monitor any previous cryptocurrency tax income, including mining, shares, loans, gifts, and even exchange incentives like airdrops. NFT's endeavor to become part of the tax system will also be more robust at the regulatory level, allowing clients to engage in NFT finance without worry and reducing the friction associated with noncompliance.
Physical items are also a field with NFT genes, as NFT possesses the dual characteristics of unique and digital assets, making it the most effective identifier of physical objects.
The original inspiration for the NFT was punk, and the jacket was the ideal attire for an NFT physical challenge. Each Azuki NFT holder will receive a special NFT that can be redeemed for a limited edition Azuki Twin Tigers jacket. The Azuki Twin Tigers jacket is modeled after the "Sukajan" jacket, a classic piece of clothing from the 1940s that fuses American and Japanese street culture, has a suggested retail price of $2,000, and is infused with NFT taste. When the NFT reverses the cultural meaning of an object, the NFT will attract additional users, and the path to DeSoc will likewise sow the seeds.
When the physical exchange expresses more of a spiritual symbol and cultural belief, and when it develops a loyal fan community, then the NFT in the ticketing industry is an attempt to incorporate it in certain usage scenarios.
TicketMint effortlessly connects the ticketing and blockchain NFT industries. TicketMint, an NFT ticketing system, has developed a smart ticketing platform. By utilizing "Omniscape XR," a location-based virtual online platform, TicketMint enables brands and businesses to integrate geolocation features into their content and virtual goods, which users may exchange for actual items and offers. TicketMint can also enable major users and fans to receive instant Bitcoin micro payments, discounts, and other means. The subdivision channels in the NFT business are connected in series, which makes the existence of NFT more natural and relatable to everyday life.
In a centralized society, NFT tickets on DeSoc specialize in the industry pain issues of the Web 2 age, such as scalpers, fraud, information asymmetry, etc. By leveraging a stable, secure, scalable, and sustainable public blockchain and injecting tokenization, micro payments, smart contracts, and meta-concepts into NFTs, it empowers artists, venues, and management, significantly reducing refunds and fraud, and enhancing the experience for traditional users.
Under DeSoc, NFTs are not only utilized for economic activity, but also contribute to societal development. A civilization that is more accommodating to average citizens will likewise be more accommodating to the natural world.
With the approval of NFTs, not only can industry participants use carbon offsets, but people can also buy and trade carbon credits using this NFT. TRST01, a supplier of blockchain solutions, introduces the Polygon-based carbon neutrality NFT token Bhu, a high-quality carbon credit that can be traded in the real world. Each NFT is equivalent to one thousand kilograms of carbon sequestration or carbon credits. By assuming the form of NFTs, Bhu also provides liquidity for carbon assets, facilitating their transferability and securing the entire process with blockchain technology.
In addition to farmers, villagers, auditors, validators, and technological partners, the revenue created by NFTs will be given to the entire ecosystem. Those that purchase Bhu NFTs may potentially profit from future price increases. The size of the existing carbon offset market is projected to increase from $40-$5 billion to $400-$650 billion by 2030, from its current level. The world is heading toward carbon neutrality at an accelerated rate, and the gap between supply and demand will dramatically expand by 2025. Additionally, NFT has expansive expansion prospects in the sector of carbon emissions. And forests make deserts greener, proving the immense potential of individual engagement, and NFT will green human society.
In the DeSoc jungle, these inventive NFT constructions seem to reveal a future NFT tribal map. The actual DeSoc should be a Lego-compatible society, and our social positions will be incredibly rich, genuine, and touchable, as well as extremely textured.
The material carrier is not the finale of NFT's carnival. Only the spiritual carrier can reach the NFT's soul's opposite side. At the changeover station from the material carrier to the spiritual carrier, we are prepared to depart and await the high-speed train to the NFT in DeSoc.
Blockchains are not consortium chains, and digital collections are not NFTs. PFP is a component of the future, but it is not the future itself. Today is the defining moment in human history, and we're traveling to DeSoc, a place where souls coexist.
