tag:blogger.com,1999:blog-88313074215709034832024-03-16T11:52:58.883-07:00Difference Between || NFT || NFTs(Find Differences, Read aboug NFT NFTs Non Fungible Tokens)Nischal Lal Shresthahttp://www.blogger.com/profile/05625422095651611201noreply@blogger.comBlogger49125tag:blogger.com,1999:blog-8831307421570903483.post-82142643993486381932021-11-26T20:40:00.002-08:002021-11-26T20:40:30.962-08:00CryptoPunks "monopolizes" large transactions, avatar works are still sought after by the market<p> </p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/a/AVvXsEjQ-1dK-0PPSMZqBGJgLnFBWCDA66803HuOlULIv1qTjbz_0uMeA9crM24w-G8KRp7nxU2BuU8LWIGTRkctcOA6dJoaSt3Px_VAHrJSkIC7Rl1Cz3ZmRQaumKsxESo7TIHUrsl25w0dRXsSVw1xIlTuNMEbcS_lN81uwKUZ0Av2JGxLBHcVbWS0ZO4i=s1080" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="540" data-original-width="1080" height="320" src="https://blogger.googleusercontent.com/img/a/AVvXsEjQ-1dK-0PPSMZqBGJgLnFBWCDA66803HuOlULIv1qTjbz_0uMeA9crM24w-G8KRp7nxU2BuU8LWIGTRkctcOA6dJoaSt3Px_VAHrJSkIC7Rl1Cz3ZmRQaumKsxESo7TIHUrsl25w0dRXsSVw1xIlTuNMEbcS_lN81uwKUZ0Av2JGxLBHcVbWS0ZO4i=w640-h320" width="640" /></a></div><br /><p></p><h3 id="nft" style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 22px; line-height: 1.5; margin-bottom: 1.2rem; margin-top: 0.4rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">NFT events not to be missed this week</span></h3><ul style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; list-style-image: initial; list-style-position: inside; margin: 1.6rem 0px 1.6rem 1.6rem; padding: 0px; text-align: justify;"><li style="box-sizing: inherit; margin-top: 0.4rem;"><span style="box-sizing: inherit; vertical-align: inherit;">ENS released governance tokens in at 8:00 on November 9th and open airdrop </span><a href="https://web.archive.org/web/20211114020231mp_/https://www.chainnews.com/news/284009461714.htm" rel="noopener" style="background-color: transparent; border-bottom: 0.05rem solid rgb(239, 239, 239); box-sizing: inherit; color: #0056ff; padding-bottom: 0.1rem; text-decoration-line: none;" target="_blank"><span style="box-sizing: inherit; vertical-align: inherit;">claim</span></a><span style="box-sizing: inherit; vertical-align: inherit;"> (November 8)</span></li><li style="box-sizing: inherit; margin-top: 0.4rem;"><span style="box-sizing: inherit; vertical-align: inherit;">Cryptocurrency wallet MyEtherWallet </span><a href="https://web.archive.org/web/20211114020231mp_/https://www.chainnews.com/news/029636418675.htm" rel="noopener" style="background-color: transparent; border-bottom: 0.05rem solid rgb(239, 239, 239); box-sizing: inherit; color: #0056ff; padding-bottom: 0.1rem; text-decoration-line: none;" target="_blank"><span style="box-sizing: inherit; vertical-align: inherit;">launches</span></a><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;"> NFT series for </span><span style="box-sizing: inherit; vertical-align: inherit;">Ethereum </span><span style="box-sizing: inherit; vertical-align: inherit;">blocks (November 12)</span></span></li><li style="box-sizing: inherit; margin-top: 0.4rem;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">Sotheby’s UK auction house will </span><a href="https://web.archive.org/web/20211114020231mp_/https://www.chainnews.com/news/493931005146.htm" rel="noopener" style="background-color: transparent; border-bottom: 0.05rem solid rgb(239, 239, 239); box-sizing: inherit; color: #0056ff; padding-bottom: 0.1rem; text-decoration-line: none;" target="_blank"><span style="box-sizing: inherit; vertical-align: inherit;">hold an</span></a><span style="box-sizing: inherit; vertical-align: inherit;"> NFT auction </span><span style="box-sizing: inherit; vertical-align: inherit;">in </span></span><span class="project-highlight" id="project-decentraland" style="box-sizing: inherit; cursor: pointer; font-weight: 700; margin: 0px 0.1em; position: relative;" tabindex="0"><span style="border-bottom: 0.05rem solid rgb(239, 239, 239); box-sizing: inherit; padding-bottom: 0.1rem;"><span style="box-sizing: inherit; vertical-align: inherit;">Decentraland</span></span></span> <span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">on November 18 </span><span style="box-sizing: inherit; vertical-align: inherit;">, allowing bidders to bid on Ethereum (November 12)</span></span><a href="https://web.archive.org/web/20211114020231mp_/https://www.chainnews.com/news/493931005146.htm" rel="noopener" style="background-color: transparent; border-bottom: 0.05rem solid rgb(239, 239, 239); box-sizing: inherit; color: #0056ff; padding-bottom: 0.1rem; text-decoration-line: none;" target="_blank"><span style="box-sizing: inherit; vertical-align: inherit;"></span></a><span style="box-sizing: inherit; vertical-align: inherit;"></span></li><li style="box-sizing: inherit; margin-top: 0.4rem;"><span style="box-sizing: inherit; vertical-align: inherit;">The NFT platform CryptoArt.Ai and the DeFi agreement </span><span class="project-highlight" id="project-solv-protocol" style="box-sizing: inherit; cursor: pointer; font-weight: 700; margin: 0px 0.1em; position: relative;" tabindex="0"><span style="border-bottom: 0.05rem solid rgb(239, 239, 239); box-sizing: inherit; padding-bottom: 0.1rem;"><span style="box-sizing: inherit; vertical-align: inherit;">Solv Protocol</span></span></span><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;"> reached a cooperation to </span><span style="box-sizing: inherit; vertical-align: inherit;">provide financial NFT for the </span></span><a href="https://web.archive.org/web/20211114020231mp_/https://www.chainnews.com/news/343924487415.htm" rel="noopener" style="background-color: transparent; border-bottom: 0.05rem solid rgb(239, 239, 239); box-sizing: inherit; color: #0056ff; padding-bottom: 0.1rem; text-decoration-line: none;" target="_blank"><span style="box-sizing: inherit; vertical-align: inherit;">casting of</span></a><span style="box-sizing: inherit; vertical-align: inherit;"> notes (November 12)</span></li><li style="box-sizing: inherit; margin-top: 0.4rem;"><span style="box-sizing: inherit; vertical-align: inherit;">Meta Universe Investment and Developer Republic Realm </span><a href="https://web.archive.org/web/20211114020231mp_/https://www.chainnews.com/news/295663087970.htm" rel="noopener" style="background-color: transparent; border-bottom: 0.05rem solid rgb(239, 239, 239); box-sizing: inherit; color: #0056ff; padding-bottom: 0.1rem; text-decoration-line: none;" target="_blank"><span style="box-sizing: inherit; vertical-align: inherit;">launched the</span></a><span style="box-sizing: inherit; vertical-align: inherit;"> Meta Universe NFT Museum to display various NFT collections (November 12)</span></li><li style="box-sizing: inherit; margin-top: 0.4rem;"><span style="box-sizing: inherit; vertical-align: inherit;">Square Chinese community members Ethernet PeterYU: </span><span class="project-highlight" id="project-platon" style="box-sizing: inherit; cursor: pointer; font-weight: 700; margin: 0px 0.1em; position: relative;" tabindex="0"><span style="border-bottom: 0.05rem solid rgb(239, 239, 239); box-sizing: inherit; padding-bottom: 0.1rem;"><span style="box-sizing: inherit; vertical-align: inherit;">PLATON</span></span></span><span style="box-sizing: inherit; vertical-align: inherit;"> is expected to </span><a href="https://web.archive.org/web/20211114020231mp_/https://www.chainnews.com/news/310957428014.htm" rel="noopener" style="background-color: transparent; border-bottom: 0.05rem solid rgb(239, 239, 239); box-sizing: inherit; color: #0056ff; padding-bottom: 0.1rem; text-decoration-line: none;" target="_blank"><span style="box-sizing: inherit; vertical-align: inherit;">become the</span></a><span style="box-sizing: inherit; vertical-align: inherit;"> yuan universe underlying infrastructure (Nov. 8)</span></li><li style="box-sizing: inherit; margin-top: 0.4rem;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">Element Research, a </span><span style="box-sizing: inherit; vertical-align: inherit;">decentralized multi-chain NFT trading platform, </span></span><a href="https://web.archive.org/web/20211114020231mp_/https://www.chainnews.com/news/702741299587.htm" rel="noopener" style="background-color: transparent; border-bottom: 0.05rem solid rgb(239, 239, 239); box-sizing: inherit; color: #0056ff; padding-bottom: 0.1rem; text-decoration-line: none;" target="_blank"><span style="box-sizing: inherit; vertical-align: inherit;">was established</span></a><span style="box-sizing: inherit; vertical-align: inherit;"> (November 8)</span></li><li style="box-sizing: inherit; margin-top: 0.4rem;"><span style="box-sizing: inherit; vertical-align: inherit;">"Rolling Stone" and </span><span class="project-highlight" id="project-bored-ape-yacht-club" style="box-sizing: inherit; cursor: pointer; font-weight: 700; margin: 0px 0.1em; position: relative;" tabindex="0"><span style="border-bottom: 0.05rem solid rgb(239, 239, 239); box-sizing: inherit; padding-bottom: 0.1rem;"><span style="box-sizing: inherit; vertical-align: inherit;">Bored Ape Yacht Club</span></span></span><span style="box-sizing: inherit; vertical-align: inherit;"> cooperation </span><a href="https://web.archive.org/web/20211114020231mp_/https://www.chainnews.com/news/649642497526.htm" rel="noopener" style="background-color: transparent; border-bottom: 0.05rem solid rgb(239, 239, 239); box-sizing: inherit; color: #0056ff; padding-bottom: 0.1rem; text-decoration-line: none;" target="_blank"><span style="box-sizing: inherit; vertical-align: inherit;">to launch</span></a><span style="box-sizing: inherit; vertical-align: inherit;"> digital magazine cover NFT, is on auction at SuperRare (11 November)</span></li><li style="box-sizing: inherit; margin-top: 0.4rem;"><span style="box-sizing: inherit; vertical-align: inherit;">The only art platform with the auction house Shanghai Huayi International Exhibition Center Friendship Hall </span><a href="https://web.archive.org/web/20211114020231mp_/https://www.chainnews.com/news/130699970441.htm" rel="noopener" style="background-color: transparent; border-bottom: 0.05rem solid rgb(239, 239, 239); box-sizing: inherit; color: #0056ff; padding-bottom: 0.1rem; text-decoration-line: none;" target="_blank"><span style="box-sizing: inherit; vertical-align: inherit;">auction</span></a><span style="box-sizing: inherit; vertical-align: inherit;"> Loot, CryptoPunks and Pak works (November 9)</span></li><li style="box-sizing: inherit; margin-top: 0.4rem;"><span style="box-sizing: inherit; vertical-align: inherit;">NFT market Random Earth cooperation with Zepeto, on Terra </span><a href="https://web.archive.org/web/20211114020231mp_/https://www.chainnews.com/news/845663989776.htm" rel="noopener" style="background-color: transparent; border-bottom: 0.05rem solid rgb(239, 239, 239); box-sizing: inherit; color: #0056ff; padding-bottom: 0.1rem; text-decoration-line: none;" target="_blank"><span style="box-sizing: inherit; vertical-align: inherit;">launched</span></a><span style="box-sizing: inherit; vertical-align: inherit;"> NFT yuan universe Project Terra One (November 7)</span></li></ul><h3 id="nft_1" style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 22px; line-height: 1.5; margin-bottom: 1.2rem; margin-top: 0.4rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">NFT market</span></h3><h4 id="_1" style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 20px; line-height: 1.5; margin-bottom: 1.2rem; margin-top: 0.4rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">Market overview</span></h4><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span class="project-highlight" id="project-nftgo" style="box-sizing: inherit; cursor: pointer; font-weight: 700; margin: 0px 0.1em; position: relative;" tabindex="0"><span style="border-bottom: 0.05rem solid rgb(239, 239, 239); box-sizing: inherit; padding-bottom: 0.1rem;"><span style="box-sizing: inherit; vertical-align: inherit;">NFTGO</span></span></span><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;"> data shows that this week (November 6th-November 12th), the market value of the NFT market increased by 2.37% month-on-month, which was the same as last week's growth rate, and the total number of addresses held increased by 13.06% month-on-month. </span><span style="box-sizing: inherit; vertical-align: inherit;">At present, there are 13,733,708 NFTs in circulation in the market, belonging to 710,028 addresses, and a total of 43,155 users have participated in 51,901 NFT transactions in the past 7 days. </span><span style="box-sizing: inherit; vertical-align: inherit;">In addition, 253 whales (NFT addresses with a value of more than $1 million) were added to the market this week.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">This week, the market for buyers and sellers appears in rotation. </span><span style="box-sizing: inherit; vertical-align: inherit;">At present, there are more buyers than sellers in the market, presenting a seller's market. </span><span style="box-sizing: inherit; vertical-align: inherit;">In addition, the number of active addresses in the NFT market dropped by 10.57% month-on-month, and market liquidity declined from last week.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><img alt="NFT Weekly | NFT avatar craze continues, CryptoPunk transaction volume has increased by nearly 70%" loading="lazy" src="https://web.archive.org/web/20211114020231im_/https://img.chainnews.com/material/images/2b84450e114f5f2fbdded5e7d787a1b5_oW1sQU5.png-article" style="border: 0px; box-sizing: inherit; display: block; height: auto; margin: 1rem auto; max-width: 100%;" /><em style="box-sizing: inherit; color: #737373; display: inline-block; font-size: 0.7rem; text-align: center; width: 688px;"><span style="box-sizing: inherit; vertical-align: inherit;">NFT market statistics, data source: NFTGO</span></em></p><h4 id="_2" style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 20px; line-height: 1.5; margin-bottom: 1.2rem; margin-top: 0.4rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">Market transaction data</span></h4><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">This week, the NFT market transaction volume declined, but the total transaction volume increased by 2.85% from the previous month. The trend of the total transaction volume was opposite to that of the transaction volume. That is, the change in the total transaction volume this week was mainly driven by transaction price rather than transaction volume.</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><img alt="NFT Weekly | NFT avatar craze continues, CryptoPunk transaction volume has increased by nearly 70%" loading="lazy" src="https://web.archive.org/web/20211114020231im_/https://img.chainnews.com/material/images/8f2cec21d232541e8aa173f8d0895428_lkz9YY0.png-article" style="border: 0px; box-sizing: inherit; display: block; height: auto; margin: 1rem auto; max-width: 100%;" /><em style="box-sizing: inherit; color: #737373; display: inline-block; font-size: 0.7rem; text-align: center; width: 688px;"><span style="box-sizing: inherit; vertical-align: inherit;">Trend chart of the total amount of transactions in a week in the NFT market, data source: NFTGO</span></em></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><img alt="NFT Weekly | NFT avatar craze continues, CryptoPunk transaction volume has increased by nearly 70%" loading="lazy" src="https://web.archive.org/web/20211114020231im_/https://img.chainnews.com/material/images/f11ed524ea405fd0a24bdaa2d17a83c5_vt5Iv7C.png-article" style="border: 0px; box-sizing: inherit; display: block; height: auto; margin: 1rem auto; max-width: 100%;" /><em style="box-sizing: inherit; color: #737373; display: inline-block; font-size: 0.7rem; text-align: center; width: 688px;"><span style="box-sizing: inherit; vertical-align: inherit;">NFT market one week trading volume trend chart, data source: NFTGO</span></em></p><h4 id="_3" style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 20px; line-height: 1.5; margin-bottom: 1.2rem; margin-top: 0.4rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">Subdivision of track liquidity</span></h4><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">From the perspective of liquidity, the overall liquidity of NFT this week was the same as that of last week. In the subdivision track, the social concept NFT works still occupy the top spot, but the liquidity has declined compared with last week, at 2.82%. </span><span style="box-sizing: inherit; vertical-align: inherit;">Collectible NFT works ranked second this week, with liquidity the same as last week, at 1.23%. </span><span style="box-sizing: inherit; vertical-align: inherit;">The IP track, which ranked fourth last week, ranked third this week, with a liquidity of 0.94%.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><img alt="NFT Weekly | NFT avatar craze continues, CryptoPunk transaction volume has increased by nearly 70%" loading="lazy" src="https://web.archive.org/web/20211114020231im_/https://img.chainnews.com/material/images/1cd7b376ba6159fc93abf49c1d242605_UYSKtyJ.png-article" style="border: 0px; box-sizing: inherit; display: block; height: auto; margin: 1rem auto; max-width: 100%;" /><em style="box-sizing: inherit; color: #737373; display: inline-block; font-size: 0.7rem; text-align: center; width: 688px;"><span style="box-sizing: inherit; vertical-align: inherit;">NFT market segmentation track one week liquidity statistics, data source: NFTGO</span></em></p><h3 id="nft_2" style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 22px; line-height: 1.5; margin-bottom: 1.2rem; margin-top: 0.4rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">NFT project ranking</span></h3><h4 id="_4" style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 20px; line-height: 1.5; margin-bottom: 1.2rem; margin-top: 0.4rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">Weekly turnover ranking</span></h4><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">According to </span><span class="project-highlight" id="project-nansen" style="box-sizing: inherit; cursor: pointer; font-weight: 700; margin: 0px 0.1em; position: relative;" tabindex="0"><span style="border-bottom: 0.05rem solid rgb(239, 239, 239); box-sizing: inherit; padding-bottom: 0.1rem;"><span style="box-sizing: inherit; vertical-align: inherit;">Nansen</span></span></span><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;"> data, the NFT with the highest total turnover in the past week was CryptoPunks. This week's turnover increased by 77.54% from the previous week to US$45,454,638.43. </span><span style="box-sizing: inherit; vertical-align: inherit;">The current highest transaction price of CryptoPunks is US$529,738,887.39, and the average transaction price has increased from last week to US$229,257.40. </span><span style="box-sizing: inherit; vertical-align: inherit;">At present, the total number of CryptoPunks market holders is 3207, accounting for 61% of the total historical holders. It also shows that although CryptoPunks has a high entry threshold, the speculation in the market is not serious and the willingness to hold for a long time is strong.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><img alt="NFT Weekly | NFT avatar craze continues, CryptoPunk transaction volume has increased by nearly 70%" loading="lazy" src="https://web.archive.org/web/20211114020231im_/https://img.chainnews.com/material/images/a220270b3efb5ef4a231fce109f4f06d.jpg-article" style="border: 0px; box-sizing: inherit; display: block; height: auto; margin: 1rem auto; max-width: 100%;" /><em style="box-sizing: inherit; color: #737373; display: inline-block; font-size: 0.7rem; text-align: center; width: 688px;"><span style="box-sizing: inherit; vertical-align: inherit;">NFT market's weekly total transaction rankings, data source: Nansen</span></em></p><h4 id="_5" style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 20px; line-height: 1.5; margin-bottom: 1.2rem; margin-top: 0.4rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">Weekly liquidity ranking</span></h4><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">The market value of the most liquid NFT projects this week was less than 10 million. The most liquid project in the past week was Art Wars, with a liquidity of 70.39%. </span><span style="box-sizing: inherit; vertical-align: inherit;">Jungle Freaks, the most liquid project last week, saw liquidity drop by 85.53% month-on-month to 6.94%. </span><span style="box-sizing: inherit; vertical-align: inherit;">Up to now, the average transaction price of Art Wars is $8,408.94. </span><span style="box-sizing: inherit; vertical-align: inherit;">The current highest transaction price is US$56,870.37, and the lowest price is US$45.5. </span><span style="box-sizing: inherit; vertical-align: inherit;">A total of 1,525 transactions have been traded in the past seven days, but the current liquidity within 24 hours is not high at 3.87%, and it is showing a downward trend. </span><span style="box-sizing: inherit; vertical-align: inherit;">At present, there are more sellers than buyers in the market, presenting a buyer's market.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">The total number of Art Wars is 1,138, of which 1,000 can be used for casting, and the other 138 will be used to pay for artists' collection, marketing and promotion activities. </span><span style="box-sizing: inherit; vertical-align: inherit;">The primary market is currently sold out and can be purchased on OpenSea. </span><span style="box-sizing: inherit; vertical-align: inherit;">The total transaction volume on OpenSea is 1,400 ETH, and the floor price is 0.92 ETH.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><img alt="NFT Weekly | NFT avatar craze continues, CryptoPunk transaction volume has increased by nearly 70%" loading="lazy" src="https://web.archive.org/web/20211114020231im_/https://img.chainnews.com/material/images/fa38f20e630d5231838c9c9bc2c6d928_FkBIjfZ.png-article" style="border: 0px; box-sizing: inherit; display: block; height: auto; margin: 1rem auto; max-width: 100%;" /><em style="box-sizing: inherit; color: #737373; display: inline-block; font-size: 0.7rem; text-align: center; width: 688px;"><span style="box-sizing: inherit; vertical-align: inherit;">Art Wars #338</span></em></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><img alt="NFT Weekly | NFT avatar craze continues, CryptoPunk transaction volume has increased by nearly 70%" loading="lazy" src="https://web.archive.org/web/20211114020231im_/https://img.chainnews.com/material/images/362f0d4435d1568cb00a8813003fe860.png-article" style="border: 0px; box-sizing: inherit; display: block; height: auto; margin: 1rem auto; max-width: 100%;" /><em style="box-sizing: inherit; color: #737373; display: inline-block; font-size: 0.7rem; text-align: center; width: 688px;"><span style="box-sizing: inherit; vertical-align: inherit;">NFT market's weekly liquidity ranking, data source: NFTGO</span></em></p><h4 id="_6" style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 20px; line-height: 1.5; margin-bottom: 1.2rem; margin-top: 0.4rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">Weekly trading volume ranking</span></h4><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">The NFT project with the highest transaction volume in the past week was Divine Anarchy, with a total of 6913 transactions. Art Blocks, which had the highest transaction volume last week, ranked fifth this week, with 1553 transactions. </span><span style="box-sizing: inherit; vertical-align: inherit;">The average transaction price of Divine Anarchy is US$1,614.03, the current highest transaction price is US$82,088.18, and the lowest price is US$786.01. </span><span style="box-sizing: inherit; vertical-align: inherit;">The market continues to be a seller's market, with more buyers than sellers, but the gap between the two parties is gradually narrowing, and the 24-hour trading volume of Divine Anarchy is showing a downward trend.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">The total number of Divine Anarchy is 10,011, ranking third in the Opensea new project trading volume rankings in the past 7 days, the total trading volume is 1870 ETH, the current number of project holders reaches 4,700, the project casting price is 0.09 ETH, the current floor The price is 0.27 ETH, the current number of official Twitter users is 38,000, and the number of Discord users is 119,000.</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><img alt="NFT Weekly | NFT avatar craze continues, CryptoPunk transaction volume has increased by nearly 70%" loading="lazy" src="https://web.archive.org/web/20211114020231im_/https://img.chainnews.com/material/images/18b9ec82ebb35778b87e1abd621acdb1.jpg-article" style="border: 0px; box-sizing: inherit; display: block; height: auto; margin: 1rem auto; max-width: 100%;" /><em style="box-sizing: inherit; color: #737373; display: inline-block; font-size: 0.7rem; text-align: center; width: 688px;"><span style="box-sizing: inherit; vertical-align: inherit;">Divine Anarchy#5634</span></em></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><img alt="NFT Weekly | NFT avatar craze continues, CryptoPunk transaction volume has increased by nearly 70%" loading="lazy" src="https://web.archive.org/web/20211114020231im_/https://img.chainnews.com/material/images/dc29f3fc7bd856ee996f8323586982b3.png-article" style="border: 0px; box-sizing: inherit; display: block; height: auto; margin: 1rem auto; max-width: 100%;" /><em style="box-sizing: inherit; color: #737373; display: inline-block; font-size: 0.7rem; text-align: center; width: 688px;"><span style="box-sizing: inherit; vertical-align: inherit;">NFT market's weekly trading volume ranking, data source: Nansan</span></em></p><h3 id="nft_3" style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 22px; line-height: 1.5; margin-bottom: 1.2rem; margin-top: 0.4rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">NFT works</span></h3><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">Among the NFT works with the highest turnover in the past week, CryptoPunk monopolized the top ten spots on the list. </span><span style="box-sizing: inherit; vertical-align: inherit;">The NFT with the highest selling price is CryptoPunk #561 (2,389,654.61), which was purchased from the address 0xdfa6E4...88fc on November 9th. There are 2 NFTs in the buyer’s wallet, and the other NFT is ENS. Purchased on the 30th.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><img alt="NFT Weekly | NFT avatar craze continues, CryptoPunk transaction volume has increased by nearly 70%" loading="lazy" src="https://web.archive.org/web/20211114020231im_/https://img.chainnews.com/material/images/c6c215630fa45d1c8c4eaf9bfba2abfb.png-article" style="border: 0px; box-sizing: inherit; display: block; height: auto; margin: 1rem auto; max-width: 100%;" /><em style="box-sizing: inherit; color: #737373; display: inline-block; font-size: 0.7rem; text-align: center; width: 688px;"><span style="box-sizing: inherit; vertical-align: inherit;">CryptoPunk #561</span></em></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">The second most expensive NFT is CryptoPunk #9129 (US$1,853,382.98), which was purchased from the address 0x7eb413...d206 on November 9th. There are a total of 4 NFTs in the buyer’s wallet, all of which were purchased this week. It is the third-ranked CryptoPunk #810 (US$1,486,050.88) and the seventh-ranked CryptoPunk #8546 (US$992,460.88) for the NFT works with the highest turnover in the past week. The other is CryptoPunk #810 (403,347.16). The buyer bought it on the 11th. enter.</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><img alt="NFT Weekly | NFT avatar craze continues, CryptoPunk transaction volume has increased by nearly 70%" loading="lazy" src="https://web.archive.org/web/20211114020231im_/https://img.chainnews.com/material/images/b89a1b9bf17f5985ae06dcbd48dd79e6_t7wFUNu.png-article" style="border: 0px; box-sizing: inherit; display: block; height: auto; margin: 1rem auto; max-width: 100%;" /><em style="box-sizing: inherit; color: #737373; display: inline-block; font-size: 0.7rem; text-align: center; width: 688px;"><span style="box-sizing: inherit; vertical-align: inherit;">NFT ranking with the highest turnover in a week in the NFT market, data source: NFTGO</span></em></p><h3 id="_7" style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 22px; line-height: 1.5; margin-bottom: 1.2rem; margin-top: 0.4rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">Giant Whale Ranking</span></h3><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">NFTGO data shows that in the past week, 23 NFT whales with a holding value of US$1 million were added to the NFT market, and their holdings were worth more than US$6.3 billion, accounting for 33.48% of the total market value of NFTs. </span><span style="box-sizing: inherit; vertical-align: inherit;">In addition, a total of 187 giant whales participated in 1,256 market transactions in the past week, a decrease in activity compared to last week.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">Among the most popular NFTs with giant whales in the past week, ArtBlocks has occupied the top spot for three consecutive weeks, with 35 giant whales choosing to buy, an increase of 14 from last week. </span><span style="box-sizing: inherit; vertical-align: inherit;">The second place is CryptoPunks, with 14 giant whales choosing to buy. </span><span style="box-sizing: inherit; vertical-align: inherit;">Ranked third is CrypToadz, ranked second last week, with 9 giant whales choosing to buy. </span><span style="box-sizing: inherit; vertical-align: inherit;">Bored Ape Yacht Club ranked fourth.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">This week, the top three of the giant whale spending list paid a large sum of money to buy CryptoPunk this week, the top address is 0x1919DB...E685, and spent 4,988,827.28 US dollars this week to buy 9 CryptoPunk, which are currently held in the account. 4 NFTs, valued at more than 1 million U.S. dollars. </span><span style="box-sizing: inherit; vertical-align: inherit;">The second giant whale on the list spent US$2,881,858.92 to buy 3 CryptoPunks this week, and the third giant whale on the list spent US$2,567,556.77 to buy 4 CryptoPunks this week.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">In addition, the fifth giant whale on the list spent a lot of money to purchase a large number of Art Wars this week. Currently, there are 26,597 NFTs in the account and 43 projects designed, of which Gods Unchained holds the most.</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; outline: 0px; text-align: justify;"><img alt="NFT Weekly | NFT avatar craze continues, CryptoPunk transaction volume has increased by nearly 70%" loading="lazy" src="https://web.archive.org/web/20211114020231im_/https://img.chainnews.com/material/images/3d38fff3c93e51f5951312907df82005.png-article" style="border: 0px; box-sizing: inherit; display: block; height: auto; margin: 1rem auto; max-width: 100%;" /><em style="box-sizing: inherit; color: #737373; display: inline-block; font-size: 0.7rem; outline: 0px; text-align: center; width: 688px;"><span style="box-sizing: inherit; vertical-align: inherit;">Ranking of giant whales in NFT market, data source: NFTGO</span></em></p>Nischal Lal Shresthahttp://www.blogger.com/profile/05625422095651611201noreply@blogger.com0tag:blogger.com,1999:blog-8831307421570903483.post-88132791351439983642021-11-26T20:38:00.004-08:002021-11-26T20:38:41.461-08:00Manta Network Polkadot Parallel Chain Card Slot Auction Rules Released<p> <span style="box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; text-align: justify; vertical-align: inherit;">🌟 Binance Crowd Loan will start at 21 o'clock on November 4th, Hong Kong time! </span><a href="https://web.archive.org/web/20211104053455mp_/https://www.binance.com/en/dotslot" rel="noopener" style="border-bottom: 0.05rem solid rgb(239, 239, 239); box-sizing: inherit; color: #0056ff; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; padding-bottom: 0.1rem; text-align: justify; text-decoration-line: none;" target="_blank"><span style="box-sizing: inherit; vertical-align: inherit;">https://www.binance.com/en/dotslot</span></a><span style="box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; text-align: justify; vertical-align: inherit;"> Participate and share 6 million MANTA token rewards!</span></p><p></p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/a/AVvXsEhJP2hpYpCEPi54YAjdiPfl8Jbr20XG0rgZFYGH7CGyAj3CHkdw3tWcFhSdMocwsDMx6NOKOLELH83TMXSqGwHKO7qWkx6N8Vr3XCF6iLOpZjATo9gMwHL9DoWsf0_aU91wjMfAGhOsBx9blHeRoI7Q7WJNj7jrb-VEGUizGdY-W4-bdMA4Nge2z6hx=s2048" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="2048" data-original-width="2048" height="640" src="https://blogger.googleusercontent.com/img/a/AVvXsEhJP2hpYpCEPi54YAjdiPfl8Jbr20XG0rgZFYGH7CGyAj3CHkdw3tWcFhSdMocwsDMx6NOKOLELH83TMXSqGwHKO7qWkx6N8Vr3XCF6iLOpZjATo9gMwHL9DoWsf0_aU91wjMfAGhOsBx9blHeRoI7Q7WJNj7jrb-VEGUizGdY-W4-bdMA4Nge2z6hx=w640-h640" width="640" /></a></div><br /><span style="box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; text-align: justify; vertical-align: inherit;"><br /></span><p></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">As the Polkadot card slot auction approaches, </span><span class="project-highlight" id="project-manta-network" style="box-sizing: inherit; cursor: pointer; font-weight: 700; margin: 0px 0.1em; position: relative;" tabindex="0"><span style="border-bottom: 0.05rem solid rgb(239, 239, 239); box-sizing: inherit; padding-bottom: 0.1rem;"><span style="box-sizing: inherit; vertical-align: inherit;">Manta Network</span></span></span><span style="box-sizing: inherit; vertical-align: inherit;"> announced that it will participate in Polkadot’s first round of card slot auctions, providing on-chain privacy protection for Polkadot’s relay chains and parachains, in order to take advantage of Polkadot’s decentralization and interoperability. Advantage.</span></p><h1 id="manta" style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 28px; line-height: 1.5; margin: 0.4rem 0px 1.2rem; text-align: justify;"><span style="box-sizing: inherit; font-weight: bolder;">1. What is Manta?</span></h1><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">Manta Network is committed to building a better Web3 world through privacy protection. </span><span style="box-sizing: inherit; vertical-align: inherit;">Manta's product design is based on first principles and provides end-to-end privacy protection for blockchain users through leading cryptographic architectures such as zkSNARK. </span><span style="box-sizing: inherit; vertical-align: inherit;">While protecting privacy, Manta combines interoperability, convenience, high performance and auditability, allowing users to conduct private transfers and transactions between any parachain assets. </span><span style="box-sizing: inherit; vertical-align: inherit;">Manta's vision is to provide more convenient privacy protection services for the entire blockchain world.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">The founding team of Manta consists of a number of cryptocurrency veterans, professors and scholars whose experience includes Harvard University, Massachusetts Institute of Technology and Algorand. </span><span style="box-sizing: inherit; vertical-align: inherit;">Manta's advisors include Hypersphere Ventures co-founder Jack Platts, Polychain partner Tekin Salimi, former Web3 Foundation co-founder Ashley Tyson, and Consensys' Shuyao Kong.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">Manta's investment institutions include Polychain, ParaFi, Multicoin, CoinFund, Alameda, DeFiance, and Hypersphere. </span><span style="box-sizing: inherit; vertical-align: inherit;">Manta is also a grant recipient of Polkadot's official Web3 Foundation, a member of the Substrate Builder Program, and a member of the Blockchain Accelerator of the University of Berkeley.</span></span><img alt="Manta Network Polkadot Parallel Chain Card Slot Auction Rules Released" loading="lazy" src="https://web.archive.org/web/20211104053455im_/https://lh3.googleusercontent.com/YBygRCeJw8HSR4krElh4mHlBhDGnPPHa2XMk7nMfjRe_l3FGI0rwFwNsXqQCVeuajhgT7HkwCwL-XK34Nawl-tdxiIbmfYfCtycdEApTxtWJKgaK2MPvL5LdiMGqAM3GQ4RkzejK" style="border: 0px; box-sizing: inherit; display: block; height: auto; margin: 1rem auto; max-width: 100%;" /></p><h1 id="manta_1" style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 28px; line-height: 1.5; margin: 0.4rem 0px 1.2rem; text-align: justify;"><span style="box-sizing: inherit; font-weight: bolder;">2. Why support Manta?</span></h1><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">Manta Network is the zero-knowledge privacy layer in the Web3 world and the first project to use zero-knowledge proof technology (zkSNARK) on Polkadot to achieve privacy on the chain. Privacy has always been a major problem that has not been solved in DeFi, and Manta’s The goal is to provide on-chain privacy protection for the entire DeFi world and realize the Web3 vision of the "post-Snowden era" as Gavin Wood said.</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">Manta's first product, MantaPay, is able to privateize the entire relay chain and parachain of Polkadot, such as the stablecoin on Acala, and the EVM digital assets on Moonbeam, to maximize Polkadot's interoperability.</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">Manta's long-term goal is to build a privacy smart contract platform that supports WASM, which can build and deploy various decentralized applications, such as the privacy trading platform MantaSwap and the privacy NFT platform. </span><span style="box-sizing: inherit; vertical-align: inherit;">Manta will be Polkadot's only platform that meets the privacy needs on the chain, promotes anti-censorship, and ensures that privacy tokens are sufficiently decentralized and interoperable.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">On September 15th, Calamari Network, the pioneer network of Manta Network, won Kusama's 7th parachain slot auction with 218,247 KSM lock-up voting, and connected to the Kusama network to become a parachain block. </span><span style="box-sizing: inherit; vertical-align: inherit;">Calamari crowd loan contributors reached 16,005, which is the largest number of community contributors among all Kusama parachain auction projects.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">After passing the Kusama #146 referendum, Calamari has completed the first runtime upgrade, successfully launched on-chain governance, and will soon start token transfer and launch the testnet. </span><span style="box-sizing: inherit; vertical-align: inherit;">We believe that Calamari's strong community support will help Manta win the next Polkadot Parachain auction.</span></span><br style="box-sizing: inherit;" /><img alt="Manta Network Polkadot Parallel Chain Card Slot Auction Rules Released" loading="lazy" src="https://web.archive.org/web/20211104053455im_/https://lh6.googleusercontent.com/mlPsTHmK5leK7s2tRTD76KJezM075GIZt74lHNwPzyL3Ug-nNcATTc8sAL39ZM0kv8XXOLZOEB49Crc3SHrGvgpA7KY9txqf5XAAjeoVnS8xEzB6YDJWqK6CX0PqHViJApt3nKHN" style="border: 0px; box-sizing: inherit; display: block; height: auto; margin: 1rem auto; max-width: 100%;" /></p><h1 id="manta_2" style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 28px; line-height: 1.5; margin: 0.4rem 0px 1.2rem; text-align: justify;"><span style="box-sizing: inherit; font-weight: bolder;">3. Manta token distribution</span></h1><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><img alt="Manta Network Polkadot Parallel Chain Card Slot Auction Rules Released" loading="lazy" src="https://web.archive.org/web/20211104053455im_/https://lh4.googleusercontent.com/xjy3ohJo5qA2wCCUhuqRVm4mKgFC7arF4S1ZieJw6H5P6_DaV6621Vh4Rt_clwrcvXYKvUoQPkU7yj5_vzOMNLXZvEO-gthVsO-IFOxtdG-W2xq7ePaMG_ffFIL1yWOubCUWZzii" style="border: 0px; box-sizing: inherit; display: block; height: auto; margin: 1rem auto; max-width: 100%;" /></p><h1 id="_1" style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 28px; line-height: 1.5; margin: 0.4rem 0px 1.2rem; text-align: justify;"><span style="box-sizing: inherit; font-weight: bolder;">Fourth, crowd loan rewards</span></h1><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">Manta reserved 15.6% of the total tokens, which is 156 million MANTA, as a reward for the next Polkadot parachain auction. </span><span style="box-sizing: inherit; vertical-align: inherit;">If the tokens have not been allocated in the parachain auction, they will be used as a reserve for future auctions.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><em style="box-sizing: inherit;">*</em><span style="box-sizing: inherit; vertical-align: inherit;"> Parachain auction reserve**</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">15% of the total amount of Manta tokens, which is 150 million MANTA, will be used for parachain auction incentives. </span><span style="box-sizing: inherit; vertical-align: inherit;">Manta's crowd lending hard cap is 30,000,000 DOT, and users will receive a fixed ratio of 1:5 rewards. </span><span style="box-sizing: inherit; vertical-align: inherit;">Once the crowd lending hard cap is reached, all 150 million MANTA will be allocated to crowd lending participants. </span><span style="box-sizing: inherit; vertical-align: inherit;">If the hard cap of 30,000,000 DOT is not reached, the remaining MANTA token will be used as a reserve for future parachain auctions.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><em style="box-sizing: inherit;">*</em><span style="box-sizing: inherit; vertical-align: inherit;"> Binance Early Bird Award**</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">In addition, Manta will also give out 0.6% of the total tokens, that is, 6,000,000 MANTA will be used as an early bird award to be distributed to users who support Manta Network crowd loans through Binance.</span></p><h2 id="_2" style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 24px; line-height: 1.5; margin-bottom: 1.2rem; margin-top: 0.4rem; text-align: justify;"><span style="box-sizing: inherit; font-weight: bolder;">Crowd loan reward ratio</span></h2><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">Manta Network crowd loan participants can get 5MANTA token rewards for every 1DOT contributed, which is a fixed reward of 1:5. </span><span style="box-sizing: inherit; vertical-align: inherit;">The fixed ratio ensures that the rewards received by each crowd lending participant will not be diluted with the increase in the total amount of DOT pledge. This is a way that is fair to all crowd lending participants.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">Early contributors can get early contribution rewards (see "Early Contribution Rewards"). </span><span style="box-sizing: inherit; vertical-align: inherit;">In every 5 MANTA rewards, contributors can directly get 4MANTA, and the other 1MANTA rewards need to be obtained through MantaPay liquidity mining activities.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">The following are the details of the reward distribution that can be received for each contribution of 1DOT:</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><img alt="Manta Network Polkadot Parallel Chain Card Slot Auction Rules Released" loading="lazy" src="https://web.archive.org/web/20211104053455im_/https://img.chainnews.com/material/images/1cd7b376ba6159fc93abf49c1d242605_bLx1o3X.png-article" style="border: 0px; box-sizing: inherit; display: block; height: auto; margin: 1rem auto; max-width: 100%;" /></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">* </span><em style="box-sizing: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">Please note that we cannot yet ensure that centralized exchanges will support MantaPay liquidity mining activities. </span><span style="box-sizing: inherit; vertical-align: inherit;">Users who participate through centralized exchanges need to bear the risk of not being able to obtain liquidity mining rewards. </span><span style="box-sizing: inherit; vertical-align: inherit;">We will do our best to communicate with all centralized exchanges, and more details will be announced in the future.</span></span></em></p><h3 id="_3" style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 22px; line-height: 1.5; margin-bottom: 1.2rem; margin-top: 0.4rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">Early contribution reward</span></h3><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">In order to thank the early supporters for their support, on top of the basic incentives, Manta has additional incentives for early crowd lending contributors. </span><span style="box-sizing: inherit; vertical-align: inherit;">Early contribution rewards are divided into two stages:</span></span></p><h4 id="_4" style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 20px; line-height: 1.5; margin-bottom: 1.2rem; margin-top: 0.4rem; text-align: justify;"><span style="box-sizing: inherit; font-weight: bolder;">The first stage: before the auction of the first Polkadot parachain starts</span></h4><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">Contributors who participated in the pledge before the start of Polkadot's first parachain auction can get an additional 10% MANTA.</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">for example:</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">If Gabriela contributes 500 DOT, she will receive a fixed reward of 2,500 MANTA (including 2,000 MANTA basic reward + 500 MANTA MantaPay privacy liquidity mining reward). </span><span style="box-sizing: inherit; vertical-align: inherit;">As an early participant before the start of the first Polkadot Parachain auction, she can also receive 10%, which is an additional reward of up to 250 MANTA (200 MANTA basic reward + 50 MANTA MantaPay privacy liquidity mining reward). </span><span style="box-sizing: inherit; vertical-align: inherit;">Therefore, Gabriela, as an early contributor, can accumulate 2,750 MANTA.</span></span></p><h4 id="_5" style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 20px; line-height: 1.5; margin-bottom: 1.2rem; margin-top: 0.4rem; text-align: justify;"><span style="box-sizing: inherit; font-weight: bolder;">The second stage: before the end of the auction of the third Polkadot parachain</span></h4><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">Contributors participating in the pledge during the period from the start of the auction of Polkadot's first parachain to the end of the auction of the third parachain can receive an additional 5% MANTA.</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">for example:</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">If Georgi contributes 500 DOT during this period, he will receive 2,500 MANTA rewards by default (including 2,000 MANTA basic rewards + 500 MANTA MantaPay privacy liquidity mining rewards). </span><span style="box-sizing: inherit; vertical-align: inherit;">As an early participant in the second stage, he will also receive an additional 5% incentive, which is 125 MANTA, so the cumulative reward amount Georgi received is 2,625 MANTA.</span></span></p><h3 id="_6" style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 22px; line-height: 1.5; margin-bottom: 1.2rem; margin-top: 0.4rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">Binance Early Bird Award</span></h3><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">In order to motivate early participants in the community, Manta and Binance will jointly launch early bird contribution rewards. Users who pledge Manta crowd loans through Binance channels will enjoy a bonus pool of 6,000,000 MANTA. </span><span style="box-sizing: inherit; vertical-align: inherit;">From November 4th to November 11th, regardless of whether Manta finally succeeded in taking the parachain, all users who participated in the Manta crowd loan through Binance can share the bonus pool. </span></span><span style="box-sizing: inherit; font-weight: bolder;">Early supporters who participate in the Manta crowd loan through Binance can receive both the early contribution reward and the Binance Early Bird Award.</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">* </span><em style="box-sizing: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">Please note that we cannot yet ensure that centralized exchanges will support MantaPay liquidity mining activities. </span><span style="box-sizing: inherit; vertical-align: inherit;">Users who participate through centralized exchanges need to bear the risk of not being able to obtain liquidity mining rewards. </span><span style="box-sizing: inherit; vertical-align: inherit;">We will do our best to communicate with all centralized exchanges, and more details will be announced in the future.</span></span></em></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><br style="box-sizing: inherit;" /></p><h1 id="_7" style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 28px; line-height: 1.5; margin: 0.4rem 0px 1.2rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">5. Bidding cycle and lock-up</span></h1><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">In order for Manta to successfully run on Polkadot, we need enough DOT to obtain the parachain card slot. Manta will participate in the slot auction from the first parachain slot, and will auction slots for 8 cycles, that is, lease The period is 8 weeks*12=96 weeks;</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">Polkadot's first parachain slot auction will begin on November 11th GMT, and the first round of 5 parachain slots auction will end on December 16.</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">Manta's crowd-lending activity will start before the first parachain auction and will end after winning a parachain slot. </span><span style="box-sizing: inherit; vertical-align: inherit;">Crowd loans participants participate in Manta crowd loans by locking a certain amount of DOT. DOT tokens will be locked from the beginning of the auction until the end of the 8 cycles (96 weeks) from the winning of the card slot auction to the end of the card slot.</span></span><br style="box-sizing: inherit;" /><span style="box-sizing: inherit; vertical-align: inherit;">If Manta fails to win a slot in the first round of parachain auctions, the DOT pledged by crowd lending participants will be unlocked and returned to the original address.</span></p><h1 id="_8" style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 28px; line-height: 1.5; margin: 0.4rem 0px 1.2rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">6. Token unlock time </span><img alt="Manta Network Polkadot Parallel Chain Card Slot Auction Rules Released" loading="lazy" src="https://web.archive.org/web/20211104053455im_/https://lh6.googleusercontent.com/jwn1c-S0IlCi41Q6FIVj23xnc0QMbvR5gLiKUqSSKCR6Nr1roSmEQYZVzeukcYOPEtZNS7h1Vjxpm5VKf3uUGZ8OSOFT3lLsS6L39ZSYywBIt6aTg_J_e0HgYEwJE7A77C9KF2AP" style="border: 0px; box-sizing: inherit; display: block; height: auto; margin: 1rem auto; max-width: 100%;" /></h1><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">Part of the basic reward tokens will be released linearly in blocks during the lease period (96 weeks);</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">Part of the token rewards for liquidity mining will be released linearly in blocks within 48 weeks;</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">Part of the token rewards of the Binance Early Bird Award can be unlocked immediately after listing on Binance.</span></p><h1 id="mantapay" style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 28px; line-height: 1.5; margin: 0.4rem 0px 1.2rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">Seven, MantaPay liquidity mining</span></h1><h3 id="mantapay_1" style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 22px; line-height: 1.5; margin-bottom: 1.2rem; margin-top: 0.4rem; text-align: justify;"><span style="box-sizing: inherit; font-weight: bolder;">What is MantaPay?</span></h3><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">MantaPay is Manta's early main product and is scheduled to go online in early 2022. The specific time depends on the results of the Polkadot Parachain auction and the duration of the testnet. </span><span style="box-sizing: inherit; vertical-align: inherit;">Based on zk-SNARK, MantaPay can support users to replace Polkadot and its Parachain tokens with corresponding privacy tokens, providing the highest level of privacy protection for users' transfers on the chain.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">The purpose of MantaPay liquidity mining is to encourage the community to actively experience the privacy payment products on the chain brought by MantaPay. </span><span style="box-sizing: inherit; vertical-align: inherit;">Users only need to deposit a certain amount of parachain assets in Manta Network to enjoy private payments and transfers.</span></span></p><h3 id="_9" style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 22px; line-height: 1.5; margin-bottom: 1.2rem; margin-top: 0.4rem; text-align: justify;"><span style="box-sizing: inherit; font-weight: bolder;">Activity Rules</span></h3><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">5% of the total amount of Manta tokens, which is 50,000,000 MANTA, will be distributed to crowd loan participants participating in MantaPay's private liquidity mining. </span><span style="box-sizing: inherit; vertical-align: inherit;">Manta's crowd loan participants need to deposit the required assets when MantaPay goes online to receive this part of the MANTA reward. </span><span style="box-sizing: inherit; vertical-align: inherit;">The purpose of MantaPay's liquidity mining activity is to incentivize Manta early crowd loan participants to experience the privacy payment products on the chain brought by MantaPay.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">The liquidity mining activity starts randomly where MantaPay goes online, and the activity will last for 60 days. </span><span style="box-sizing: inherit; vertical-align: inherit;">During the MantaPay liquidity mining activities, users can deposit and withdraw DOT or MANTA at any time. We will take the snapshot time at the end of the event and distribute MANTA token rewards based on the accumulated DOT or MANTA deposited by users during the event , Participants can automatically get rewards after the event.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">To get this part of the reward, you must be a Manta crowd loan contributor and meet the following conditions:</span><br style="box-sizing: inherit;" /><img alt="Manta Network Polkadot Parallel Chain Card Slot Auction Rules Released" loading="lazy" src="https://web.archive.org/web/20211104053455im_/https://lh4.googleusercontent.com/BVyvWeFpexfjLbxPMARYSnuKYPPIRV_pedo-4-Z94KZSoHCSaNBDN3Lex8AQgHtp2Av_VE0Ex-FGWpCUHjTTVZDx-P9zT8-zGM7Geom0j-iaxUu1p1n6gp8ziDjLP0TaNJ-CPgOZ" style="border: 0px; box-sizing: inherit; display: block; height: auto; margin: 1rem auto; max-width: 100%;" /><br style="box-sizing: inherit;" /><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">When participating in MantaPay liquidity mining, you need to deposit DOT or equivalent MANTA. </span><span style="box-sizing: inherit; vertical-align: inherit;">The price of MANTA is based on the average value within 30 days after opening the transaction;</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">Examples are as follows:</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">Luke pledged 1,000 DOT in the Manta crowd loan. He needs to deposit 100 DOT (10%) or 100 DOT equivalent of MANTA in MantaPay liquidity mining activities;</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">Michael pledged 9 DOT in the Manta crowd loan. He only needs to deposit more than 0.5 DOT or the equivalent MANTA to participate in liquidity mining;</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">The reward of liquid mining has a linear relationship with the target deposit amount. </span><span style="box-sizing: inherit; vertical-align: inherit;">Assuming that Luke's target deposit is 100 DOT, but he has successively deposited 50 DOT during the event, then he will be able to receive 50% of the MANTA reward.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">During the event, the number of tokens deposited by the user can be calculated cumulatively. For example, Luke can deposit 50 DOT on the first day of the event, and 50 DOT on the 10th day, then the cumulative deposit during the event is 100 DOT, which can be Unlock 100% liquidity mining rewards.</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">After the event ends, unclaimed MANTA will be automatically transferred to the reward pool of future parachain auction events.</span></p><h1 id="_10" style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 28px; line-height: 1.5; margin: 0.4rem 0px 1.2rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">8. Crowd loan participation channels</span></h1><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">The platforms that have been identified to support Manta crowd loans are as follows:</span></p><h3 id="_11" style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 22px; line-height: 1.5; margin-bottom: 1.2rem; margin-top: 0.4rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">Decentralized participation channels</span></h3><ul style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; list-style-image: initial; list-style-position: inside; margin: 1.6rem 0px 1.6rem 1.6rem; padding: 0px; text-align: justify;"><li style="box-sizing: inherit; margin-top: 0.4rem;"><span style="box-sizing: inherit; vertical-align: inherit;">Polkadot JS</span></li><li style="box-sizing: inherit; margin-top: 0.4rem;"><a href="https://web.archive.org/web/20211104053455mp_/https://slotvault.zenlink.pro/#/auctions" rel="noopener" style="background-color: transparent; border-bottom: 0.05rem solid rgb(239, 239, 239); box-sizing: inherit; color: #0056ff; padding-bottom: 0.1rem; text-decoration-line: none;" target="_blank"><span style="box-sizing: inherit; vertical-align: inherit;">Zenlink</span></a></li><li style="box-sizing: inherit; margin-top: 0.4rem;"><a href="https://web.archive.org/web/20211104053455mp_/https://crowdloan.parallel.fi/#/auction/polkadot" rel="noopener" style="background-color: transparent; border-bottom: 0.05rem solid rgb(239, 239, 239); box-sizing: inherit; color: #0056ff; padding-bottom: 0.1rem; text-decoration-line: none;" target="_blank"><span style="box-sizing: inherit; vertical-align: inherit;">Parallel Finance</span></a></li><li style="box-sizing: inherit; margin-top: 0.4rem;"><span style="box-sizing: inherit; vertical-align: inherit;">Fearless Wallet</span></li></ul><h3 id="_12" style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 22px; line-height: 1.5; margin-bottom: 1.2rem; margin-top: 0.4rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">Centralized exchange channel</span></h3><ul style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; list-style-image: initial; list-style-position: inside; margin: 1.6rem 0px 1.6rem 1.6rem; padding: 0px; text-align: justify;"><li style="box-sizing: inherit; margin-top: 0.4rem;"><a href="https://web.archive.org/web/20211104053455mp_/https://www.binance.com/en/dotslot" rel="noopener" style="background-color: transparent; border-bottom: 0.05rem solid rgb(239, 239, 239); box-sizing: inherit; color: #0056ff; padding-bottom: 0.1rem; text-decoration-line: none;" target="_blank"><span style="box-sizing: inherit; vertical-align: inherit;">Binance</span></a></li><li style="box-sizing: inherit; margin-top: 0.4rem;"><span style="box-sizing: inherit; vertical-align: inherit;">OKEx</span></li><li style="box-sizing: inherit; margin-top: 0.4rem;"><span style="box-sizing: inherit; vertical-align: inherit;">Kucoin</span></li><li style="box-sizing: inherit; margin-top: 0.4rem;"><span style="box-sizing: inherit; vertical-align: inherit;">Gate</span></li><li style="box-sizing: inherit; margin-top: 0.4rem;"><span style="box-sizing: inherit; vertical-align: inherit;">MEXC</span></li></ul><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">We are expanding as many channels as possible to participate in crowd loans to meet the different needs of the community, and more cooperation platforms will be gradually updated.</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">Welcome to follow our channel to learn more about Manta Network:</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; outline: 0px; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">Manta Website: </span><a href="https://web.archive.org/web/20211104053455mp_/https://manta.network/" rel="noopener" style="background-color: transparent; border-bottom: 0.05rem solid rgb(239, 239, 239); box-sizing: inherit; color: #0056ff; padding-bottom: 0.1rem; text-decoration-line: none;" target="_blank"><span style="box-sizing: inherit; vertical-align: inherit;">https://manta.network/</span></a><br style="box-sizing: inherit;" /><span style="box-sizing: inherit; vertical-align: inherit;">Calamari Website: </span><a href="https://web.archive.org/web/20211104053455mp_/https://calamari.network/" rel="noopener" style="background-color: transparent; border-bottom: 0.05rem solid rgb(239, 239, 239); box-sizing: inherit; color: #0056ff; padding-bottom: 0.1rem; text-decoration-line: none;" target="_blank"><span style="box-sizing: inherit; vertical-align: inherit;">https://calamari.network/</span></a><br style="box-sizing: inherit;" /><span style="box-sizing: inherit; vertical-align: inherit;">Github: </span><a href="https://web.archive.org/web/20211104053455mp_/https://github.com/Manta-Network" rel="noopener" style="background-color: transparent; border-bottom: 0.05rem solid rgb(239, 239, 239); box-sizing: inherit; color: #0056ff; padding-bottom: 0.1rem; text-decoration-line: none;" target="_blank"><span style="box-sizing: inherit; vertical-align: inherit;">https://github.com/Manta-Network</span></a><br style="box-sizing: inherit;" /><span style="box-sizing: inherit; vertical-align: inherit;">Twitter: </span><a href="https://web.archive.org/web/20211104053455mp_/https://twitter.com/MantaNetwork?s=20" rel="noopener" style="background-color: transparent; border-bottom: 0.05rem solid rgb(239, 239, 239); box-sizing: inherit; color: #0056ff; padding-bottom: 0.1rem; text-decoration-line: none;" target="_blank"><span style="box-sizing: inherit; vertical-align: inherit;">https://twitter.com/MantaNetwork?s=20</span></a><br style="box-sizing: inherit;" /><span style="box-sizing: inherit; vertical-align: inherit;">Medium: </span><a href="https://web.archive.org/web/20211104053455mp_/https://medium.com/@mantanetwork" rel="noopener" style="background-color: transparent; border-bottom: 0.05rem solid rgb(239, 239, 239); box-sizing: inherit; color: #0056ff; padding-bottom: 0.1rem; text-decoration-line: none;" target="_blank"><span style="box-sizing: inherit; vertical-align: inherit;">https://medium.com/@mantanetwork</span></a><br style="box-sizing: inherit;" /><span style="box-sizing: inherit; vertical-align: inherit;">Telegram: </span><a href="https://web.archive.org/web/20211104053455mp_/https://t.me/mantanetwork" rel="noopener" style="background-color: transparent; border-bottom: 0.05rem solid rgb(239, 239, 239); box-sizing: inherit; color: #0056ff; padding-bottom: 0.1rem; text-decoration-line: none;" target="_blank"><span style="box-sizing: inherit; vertical-align: inherit;">https://t.me/mantanetwork</span></a><br style="box-sizing: inherit;" /><span style="box-sizing: inherit; vertical-align: inherit;">Telegram Chinese: </span><a href="https://web.archive.org/web/20211104053455mp_/https://t.me/mantanetwork_zh" rel="noopener" style="background-color: transparent; border-bottom: 0.05rem solid rgb(239, 239, 239); box-sizing: inherit; color: #0056ff; padding-bottom: 0.1rem; text-decoration-line: none;" target="_blank"><span style="box-sizing: inherit; vertical-align: inherit;">https://t.me/mantanetwork_zh</span></a><br style="box-sizing: inherit;" /><span style="box-sizing: inherit; vertical-align: inherit;">Discord Chinese channel: </span><a href="https://web.archive.org/web/20211104053455mp_/https://discord.gg/ZtSuSKRy8X" rel="noopener" style="background-color: transparent; border-bottom: 0.05rem solid rgb(239, 239, 239); box-sizing: inherit; color: #0056ff; padding-bottom: 0.1rem; text-decoration-line: none;" target="_blank"><span style="box-sizing: inherit; vertical-align: inherit;">https://discord.gg/ZtSuSKRy8XWeChat</span></a><br style="box-sizing: inherit;" /><span style="box-sizing: inherit; vertical-align: inherit;">public Number: Manta Network Protocol</span></p>Nischal Lal Shresthahttp://www.blogger.com/profile/05625422095651611201noreply@blogger.com0tag:blogger.com,1999:blog-8831307421570903483.post-82136413103218213922021-11-26T20:32:00.002-08:002021-11-26T20:32:31.161-08:00Investment logic for encrypted art | Why would anyone buy NFT?<p> </p><p></p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/a/AVvXsEj0Hoozw2xg2m8WBLXkhMKnhs_tIuJZ7NA9xh0XGPAmPYa4ud6sHAKl_nLfW63twKYs7Kb5c_t1yWLBycbluJhUYjDY4VwktMR5l1lf6n6xZf4xFi0zSJZP_0eAEO6yHNNoNdkkyp2Gao_T0ti_zfTZk854pfvSOT-3bG3EQUH5PA7rpocEbbVqlv6X=s1080" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="1077" data-original-width="1080" height="638" src="https://blogger.googleusercontent.com/img/a/AVvXsEj0Hoozw2xg2m8WBLXkhMKnhs_tIuJZ7NA9xh0XGPAmPYa4ud6sHAKl_nLfW63twKYs7Kb5c_t1yWLBycbluJhUYjDY4VwktMR5l1lf6n6xZf4xFi0zSJZP_0eAEO6yHNNoNdkkyp2Gao_T0ti_zfTZk854pfvSOT-3bG3EQUH5PA7rpocEbbVqlv6X=w640-h638" width="640" /></a></div><br /><span style="box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; text-align: justify; vertical-align: inherit;"><br /></span><p></p><p><span style="box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; text-align: justify; vertical-align: inherit;">"From the perspective of an investor in the crypto field, how to understand </span><span style="box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; font-weight: bolder; text-align: justify;">the logic of</span><span style="box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; text-align: justify; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;"> buying NFT artworks for </span><span style="box-sizing: inherit; font-weight: bolder;"><span style="box-sizing: inherit; vertical-align: inherit;">collection or investment</span></span><span style="box-sizing: inherit; vertical-align: inherit;"> ?"</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">I hope to discuss this issue with you in an easy-to-understand manner. </span><span style="box-sizing: inherit; vertical-align: inherit;">Of course, the views in the article only represent the author's own views.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">(Thanks to LeftOfCenter, Alen, Shirley, Blair, Johnson, Rex, Felicia and other friends for their discussion and inspiration, and teacher Cao Yin’s article reference)</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">Because I was shy in my pocket, it took me about two years from my first contact with NFT artwork to the first time I was touched by NFT artwork and convinced myself to buy it into the collection. </span><span style="box-sizing: inherit; vertical-align: inherit;">Although I learned to appreciate </span><span style="box-sizing: inherit; vertical-align: inherit;">the works of many big-name artists such as </span></span><span style="box-sizing: inherit; font-weight: bolder;">Beeple</span><span style="box-sizing: inherit; vertical-align: inherit;"> , I really started the journey of collecting because of a pair of </span><span style="box-sizing: inherit; font-weight: bolder;">Hashmasks</span><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;"> works I </span><span style="box-sizing: inherit; vertical-align: inherit;">couldn't restrain </span><span style="box-sizing: inherit; font-weight: bolder;"><span style="box-sizing: inherit; vertical-align: inherit;">myself from</span></span><span style="box-sizing: inherit; vertical-align: inherit;"> wanting to own </span><span style="box-sizing: inherit; vertical-align: inherit;">.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><img alt="NFT notes: My investment logic for encrypted art" loading="lazy" src="https://web.archive.org/web/20210319023332im_/https://img.chainnews.com/material/images/c97c61a6f987b581643f1de8aede457f.jpg-article" style="border: 0px; box-sizing: inherit; display: block; height: auto; margin: 1rem auto; max-width: 100%;" /><em style="box-sizing: inherit; color: #737373; display: inline-block; font-size: 0.7rem; text-align: center; width: 688px;"><span style="box-sizing: inherit; vertical-align: inherit;">Hashmasks works, Xiao Maoge collection</span></em></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">This work depicts a man wearing an abstract mask in the style of Picasso and holding a book "Alice in Wonderland" in his hand.</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">Recalling my experience of accidentally falling into the "rabbit hole" of the cryptocurrency field a few years ago, I seem to have seen myself confused when I first started. </span><span style="box-sizing: inherit; font-weight: bolder;">Art needs the transmission of emotions</span><span style="box-sizing: inherit; vertical-align: inherit;"> . I am very happy to have such a feeling in the impetuous and cold encrypted world, but what is art?</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">British art theorist Gombrich wrote at the beginning of his book "The Story of Art": " </span><span style="box-sizing: inherit; font-weight: bolder;">There is no such thing as capitalized art, there are only artists.</span><span style="box-sizing: inherit; vertical-align: inherit;"> "</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">Why are there only artists? </span><span style="box-sizing: inherit; vertical-align: inherit;">Different people have different understandings. </span><span style="box-sizing: inherit; vertical-align: inherit;">But no matter what, this tone makes it easier for ordinary people to understand the artist's introduction to art history, and it also emphasizes the importance of the role of "artist".</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">In the prevalence of technology today, people prefer to say the artist (Artist) as "Creator" or "Maker" - </span><span style="box-sizing: inherit; font-weight: bolder;">the artist that is "doing things people"</span><span style="box-sizing: inherit; vertical-align: inherit;"> .</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">With </span><span style="box-sizing: inherit; vertical-align: inherit;">the entry </span><span style="box-sizing: inherit; vertical-align: inherit;">of </span></span><span style="box-sizing: inherit; font-weight: bolder;">non-homogeneous tokens</span><span style="box-sizing: inherit; vertical-align: inherit;"> (NFT) technology into the art field, the role of the "stuff maker" in the crypto art field has become more abundant, and crypto artists, curators, critics, distribution platforms, etc. have also been derived Wait for the role.</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">If we believe this argument, it will be difficult for us to talk about the " </span><span style="box-sizing: inherit; font-weight: bolder;">NFT art</span><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;"> " itself </span><span style="box-sizing: inherit; vertical-align: inherit;">without the scene where each NFT is located and the various characters behind </span><span style="box-sizing: inherit; vertical-align: inherit;">it. </span><span style="box-sizing: inherit; vertical-align: inherit;">For the encryption art discussed in this article, we can even boldly imitate the sentence-"There is no such thing as encryption art, there are only people who do things and those who own them."</span></span></p><h3 id="nft" style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 22px; line-height: 1.5; margin-bottom: 1.2rem; margin-top: 0.4rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">Why not "NFT artwork"?</span></h3><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">If you put aside the so-called art, compared with traditional art, the field of encrypted art not only has </span><span style="box-sizing: inherit; vertical-align: inherit;">a richer role as the “ </span></span><span style="box-sizing: inherit; font-weight: bolder;">person who makes things</span><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;"> ”, but also expands the </span><span style="box-sizing: inherit; vertical-align: inherit;">scope of the </span><span style="box-sizing: inherit; vertical-align: inherit;">“ </span></span><span style="box-sizing: inherit; font-weight: bolder;">owner</span><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;"> ” of </span><span style="box-sizing: inherit; vertical-align: inherit;">the artwork. What </span><span style="box-sizing: inherit; vertical-align: inherit;">lies behind it is a more promising one. capital market.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">At the same time, from the perspective of technical attributes, the unique ownership " </span><span style="box-sizing: inherit; font-weight: bolder;">voucher</span><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;"> " attribute </span><span style="box-sizing: inherit; vertical-align: inherit;">brought by NFT non-homogeneous tokens </span><span style="box-sizing: inherit; vertical-align: inherit;">makes it naturally suitable for use in the field of art NFT with unique value, and it is more and more suitable for carrying or transferring large amounts of art. The value carrier of funds.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">Owning an NFT artwork is equivalent to owning an on-chain certificate of artwork assets, but NFT is a long way from large-scale applications. </span><span style="box-sizing: inherit; vertical-align: inherit;">One of the core questions includes, why is the current NFT artwork still not generally considered to be able to store value?</span></span></p><ul style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; list-style-image: initial; list-style-position: inside; margin: 1.6rem 0px 1.6rem 1.6rem; padding: 0px; text-align: justify;"><li style="box-sizing: inherit; margin-top: 0.4rem;"><p style="box-sizing: inherit; display: inline; hyphens: auto; margin: 0px 0px 1.6rem;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">First, the value consensus of NFT is still controversial. </span><span style="box-sizing: inherit; vertical-align: inherit;">Some people think that NFT artworks are more of a </span></span><span style="box-sizing: inherit; font-weight: bolder;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">digital certificate for collectibles</span></span></span><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;"> , but this does not mean that NFT artworks are inherently valuable; while others have a strong interest in collecting specific NFT artworks. </span><span style="box-sizing: inherit; vertical-align: inherit;">Even the crypto communities that are most receptive to new things have polarized attitudes towards the value of NFTs.</span></span></p></li><li style="box-sizing: inherit; margin-top: 0.4rem;"><p style="box-sizing: inherit; display: inline; hyphens: auto; margin: 0px 0px 1.6rem;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">Second, the </span></span><span style="box-sizing: inherit; font-weight: bolder;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">asset liquidity of</span></span></span><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;"> NFT artworks </span><span style="box-sizing: inherit; font-weight: bolder;"><span style="box-sizing: inherit; vertical-align: inherit;">is poor</span></span><span style="box-sizing: inherit; vertical-align: inherit;"> , and pricing is extremely subjective and difficult. </span><span style="box-sizing: inherit; vertical-align: inherit;">Under normal circumstances, it may take a few days for investors to buy an ordinary NFT artwork before it can be sold again, while a higher-priced NFT artwork may take several weeks or even longer to change hands.</span></span></p></li><li style="box-sizing: inherit; margin-top: 0.4rem;"><p style="box-sizing: inherit; display: inline; hyphens: auto; margin: 0px 0px 1.6rem;"><span style="box-sizing: inherit; vertical-align: inherit;">Although more and more big coffees in traditional fields are trying to issue NFTs, judging by indicators such as active buyers, NFT artworks are still spreading in a relatively small circle.</span></p></li><li style="box-sizing: inherit; margin-top: 0.4rem;"><p style="box-sizing: inherit; display: inline; hyphens: auto; margin: 0px 0px 1.6rem;"><span style="box-sizing: inherit; vertical-align: inherit;">In addition, the infrastructure in the NFT field is still incomplete, and most projects are still in the exploratory and trial stage.</span></p></li></ul><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">Although the </span><span style="box-sizing: inherit; font-weight: bolder;">infrastructure</span><span style="box-sizing: inherit; vertical-align: inherit;"> and </span><span style="box-sizing: inherit; font-weight: bolder;">industry standards in the</span><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;"> NFT field </span><span style="box-sizing: inherit; vertical-align: inherit;">are in urgent need of improvement, fortunately, we are still in the midst of an era of rapid updates and opportunities in the field of NFT technology and encryption art.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">Relying on the innovation of more NFT projects and the improvement of infrastructure construction, NFT artworks are also realizing more and more capital flows under different construction scenarios. </span><span style="box-sizing: inherit; vertical-align: inherit;">It is believed that relying on the promotion of these key projects, the entire NFT field will rise.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">Although it is a bit risky, why not take part in a fantasy journey of the capitalization of crypto art?</span></p><h3 id="nft_1" style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 22px; line-height: 1.5; margin-bottom: 1.2rem; margin-top: 0.4rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">My exploration journey of investing in NFT artworks and projects</span></h3><h4 id="nft_2" style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 20px; line-height: 1.5; margin-bottom: 1.2rem; margin-top: 0.4rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">Why would anyone buy NFT?</span></h4><blockquote style="background: rgb(250, 250, 250); border-bottom-color: rgb(230, 229, 229); border-left: 0.1rem solid rgb(230, 229, 229); border-right-color: rgb(230, 229, 229); border-top-color: rgb(230, 229, 229); box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; margin: 1.6rem 0px; padding: 1.2rem; text-align: justify;"><p style="box-sizing: inherit; hyphens: auto; margin: 0px 0px 1.6rem;"><span style="box-sizing: inherit; vertical-align: inherit;">"Money can rug, but fun can not rug (Money can be cut, fun can't be cut)"</span></p><p style="box-sizing: inherit; hyphens: auto; margin: 0px;"><span style="box-sizing: inherit; vertical-align: inherit;">—— Excerpt from the self-introduction of a member of an NFT community project</span></p></blockquote><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">For people who spend a lot of money on NFT artworks, my first instinct is to think that these people are either too rich or stupid, but is that true? </span><span style="box-sizing: inherit; vertical-align: inherit;">If you want to start the investment journey of investing in NFT art, you must first think: What drives people to acquire or buy NFT?</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">If you consider from the needs theory, the famous Maslow’s hierarchy of needs theory summarizes that human needs have five levels, from the bottom to the top of the structure: physiological (food and clothing), safety (job security), social needs (friendship) ), self-realization. </span><span style="box-sizing: inherit; vertical-align: inherit;">Combined with the NFT summarized above, there are always two parties " </span></span><span style="box-sizing: inherit; font-weight: bolder;">creator</span><span style="box-sizing: inherit; vertical-align: inherit;"> " and " </span><span style="box-sizing: inherit; font-weight: bolder;">buyers</span><span style="box-sizing: inherit; vertical-align: inherit;"> ", we can guess the role of the two parties in terms of demand:</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">“Buyer” also has five levels of demand for NFT artworks. From the bottom of the structure, they are: obtaining short-term speculative income, obtaining long-term investment income, obtaining fans or ecological rights, and obtaining social attributes (on-chain). A status symbol, an interactive social certificate), and the joy of collecting.</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">It can be found that the news that we often see, including the high price of a certain number of Cryptopunk being sold for millions of dollars, may be a type of collector with a higher level of demand for NFT art. </span><span style="box-sizing: inherit; vertical-align: inherit;">But in fact, as time goes by, we cannot ignore </span><span style="box-sizing: inherit; vertical-align: inherit;">the pursuit of </span><span style="box-sizing: inherit; vertical-align: inherit;">more ordinary people entering the game for </span></span><span style="box-sizing: inherit; font-weight: bolder;">investment in NFT</span><span style="box-sizing: inherit; vertical-align: inherit;"> and </span><span style="box-sizing: inherit; font-weight: bolder;">fan rights</span><span style="box-sizing: inherit; vertical-align: inherit;"> or </span><span style="box-sizing: inherit; font-weight: bolder;">social proof</span><span style="box-sizing: inherit; vertical-align: inherit;"> .</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><img alt="NFT notes: My investment logic for encrypted art" loading="lazy" src="https://web.archive.org/web/20210319023332im_/https://img.chainnews.com/material/images/b51a8e41210289e4da0252979b15aeb8.jpg-article" style="border: 0px; box-sizing: inherit; display: block; height: auto; margin: 1rem auto; max-width: 100%;" /></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">We see that more and more new participants have begun to tend to collect some valuable NFT artworks. It is conceivable that as the number of people participating in the field of NFT art increases, the collection and investment groups will change. More, and more likely to appear more high-priced artworks.</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">Thinking from another perspective, if you really believe that there are small circles that spend money to collect NFT art purely for hobbies and happiness, the more loyal the circle is, the easier it is to attract more smart money outside the circle into speculation. </span><span style="box-sizing: inherit; vertical-align: inherit;">Of course, pay attention to foaming and side effects.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; font-weight: bolder;">From the perspective of business model, how to choose NFT artworks and projects?</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">First of all, encrypted art projects do not necessarily require a so-called business model, and the standards of various art works are also closely related to the preferences of the audience. </span><span style="box-sizing: inherit; vertical-align: inherit;">However, NFT's own </span><span style="box-sizing: inherit; vertical-align: inherit;">cryptocurrency </span></span><span style="box-sizing: inherit; font-weight: bolder;">properties</span><span style="box-sizing: inherit; vertical-align: inherit;"> , and the success of cryptographic art projects such as Cryptopunk and Hashmasks, virtually set a set of project design and issuance standards for exploring the main collection of NFT cryptographic art projects.</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">Up to now, </span><span style="box-sizing: inherit; vertical-align: inherit;">projects such as </span></span><span style="box-sizing: inherit; font-weight: bolder;">Cryptopunk and Hashmasks</span><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;"> are still at the forefront of crypto art project transaction volume and transaction prices. </span><span style="box-sizing: inherit; vertical-align: inherit;">But more importantly, these NFT art projects all have a fan community with a strong consensus.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">From the perspective of a collector, the common characteristics of these high-quality projects in project art and theme design include:</span></p><ul style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; list-style-image: initial; list-style-position: inside; margin: 1.6rem 0px 1.6rem 1.6rem; padding: 0px; text-align: justify;"><li style="box-sizing: inherit; margin-top: 0.4rem;"><p style="box-sizing: inherit; display: inline; hyphens: auto; margin: 0px 0px 1.6rem;"><span style="box-sizing: inherit; vertical-align: inherit;">The artwork itself is attractive, and the total amount of circulation is fixed</span></p></li><li style="box-sizing: inherit; margin-top: 0.4rem;"><p style="box-sizing: inherit; display: inline; hyphens: auto; margin: 0px 0px 1.6rem;"><span style="box-sizing: inherit; vertical-align: inherit;">The distribution model has a high degree of community participation (fair distribution or blind box purchase and distribution)</span></p></li><li style="box-sizing: inherit; margin-top: 0.4rem;"><p style="box-sizing: inherit; display: inline; hyphens: auto; margin: 0px 0px 1.6rem;"><span style="box-sizing: inherit; vertical-align: inherit;">Attractive collection rarity design (such as Cryptopunk’s alien or zombie characters, etc.)</span></p></li><li style="box-sizing: inherit; margin-top: 0.4rem;"><p style="box-sizing: inherit; display: inline; hyphens: auto; margin: 0px 0px 1.6rem;"><span style="box-sizing: inherit; vertical-align: inherit;">Others: embedding threads or easter eggs that are conducive to the long-term development of the project (such as the cultural hidden attributes of Hashmasks, etc.), community activities with rewards (such as holding online exhibitions, etc.)</span></p></li></ul><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">In addition, for the encrypted art platform, the sales method of NFT art is also constantly innovating. </span><span style="box-sizing: inherit; vertical-align: inherit;">Encrypted artists can not only register on the platform, publish works, and start bidding in the market, many platforms have begun to try </span></span><span style="box-sizing: inherit; font-weight: bolder;">the model of cooperating with artists for pricing and sales</span><span style="box-sizing: inherit; vertical-align: inherit;"> .</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">For example </span><span style="box-sizing: inherit; vertical-align: inherit;">, the NFT Drop mode launched by the </span></span><span style="box-sizing: inherit; font-weight: bolder;">Nifty Gateway</span><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;"> platform selects the works of different artists every day and allows artists to issue a series of limited works with different price gradients. </span><span style="box-sizing: inherit; vertical-align: inherit;">This attempt is not only convenient for novices to collect, whether anyone is willing to rush to buy at the time of distribution, how the works perform in the second-hand market, etc., is also </span><span style="box-sizing: inherit; vertical-align: inherit;">a process of </span><span style="box-sizing: inherit; vertical-align: inherit;">" </span></span><span style="box-sizing: inherit; font-weight: bolder;">price discovery</span><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;"> " </span><span style="box-sizing: inherit; vertical-align: inherit;">for encrypted artists' works </span><span style="box-sizing: inherit; vertical-align: inherit;">.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><img alt="NFT notes: My investment logic for encrypted art" loading="lazy" src="https://web.archive.org/web/20210319023332im_/https://img.chainnews.com/material/images/60e25ac8527d0f17c1890086c18ff722.jpg-article" style="border: 0px; box-sizing: inherit; display: block; height: auto; margin: 1rem auto; max-width: 100%;" /><em style="box-sizing: inherit; color: #737373; display: inline-block; font-size: 0.7rem; text-align: center; width: 688px;"><span style="box-sizing: inherit; vertical-align: inherit;">NFT Drop mode introduced by Nifty Gateway</span></em></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">In addition, projects including Meme are exploring a model of combining tokens and in- </span><span style="box-sizing: inherit; font-weight: bolder;">depth cooperation with</span><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;"> big-name artists </span><span style="box-sizing: inherit; vertical-align: inherit;">, in which investors can purchase MEME tokens and pledge them in pools of different artists to obtain points, and use the points to snap up works issued by artists. </span><span style="box-sizing: inherit; vertical-align: inherit;">The advantages of this innovative model over open market platforms include:</span></span></p><ul style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; list-style-image: initial; list-style-position: inside; margin: 1.6rem 0px 1.6rem 1.6rem; padding: 0px; text-align: justify;"><li style="box-sizing: inherit; margin-top: 0.4rem;"><p style="box-sizing: inherit; display: inline; hyphens: auto; margin: 0px 0px 1.6rem;"><span style="box-sizing: inherit; vertical-align: inherit;">Participants do not need to spend a lot of time to select artists, the community can try to cooperate with big-name or potential crypto artists</span></p></li><li style="box-sizing: inherit; margin-top: 0.4rem;"><p style="box-sizing: inherit; display: inline; hyphens: auto; margin: 0px 0px 1.6rem;"><span style="box-sizing: inherit; vertical-align: inherit;">Helping token holders to obtain the collections of some big-name artists who have been auctioned at ``astronomical prices'' without spending huge costs</span></p></li><li style="box-sizing: inherit; margin-top: 0.4rem;"><p style="box-sizing: inherit; display: inline; hyphens: auto; margin: 0px 0px 1.6rem;"><span style="box-sizing: inherit; vertical-align: inherit;">Participants can play different roles at the same time, including token investors, art collectors, project governance participants, etc.</span></p></li><li style="box-sizing: inherit; margin-top: 0.4rem;"><p style="box-sizing: inherit; display: inline; hyphens: auto; margin: 0px 0px 1.6rem;"><span style="box-sizing: inherit; vertical-align: inherit;">Participants can meet different needs, including long-term low-cost access to art collections, direct interaction with artists in the community, rush to buy artworks for speculation or long-term investment, etc.</span></p></li></ul><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><img alt="NFT notes: My investment logic for encrypted art" loading="lazy" src="https://web.archive.org/web/20210319023332im_/https://img.chainnews.com/material/images/4116252e46b4dd0e1c2dce6db18aab2e.jpg-article" style="border: 0px; box-sizing: inherit; display: block; height: auto; margin: 1rem auto; max-width: 100%;" /><em style="box-sizing: inherit; color: #737373; display: inline-block; font-size: 0.7rem; text-align: center; width: 688px;"><span style="box-sizing: inherit; vertical-align: inherit;">Works published on the Meme platform by the well-known crypto artist Fewocious</span></em></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">Is the exploratory design of these business models just to attract more fans to discover and buy collections? </span><span style="box-sizing: inherit; vertical-align: inherit;">Indeed, in the niche circle of collecting art, this kind of design tends to be more attractive to collectors and form a strong consensus in the fan community.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">But from another perspective, the "business model" of NFT artworks is actually </span><span style="box-sizing: inherit; vertical-align: inherit;">an exploration of </span><span style="box-sizing: inherit; vertical-align: inherit;">how to clearly define the “ </span></span><span style="box-sizing: inherit; font-weight: bolder;">pricing</span><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;"> ” of </span><span style="box-sizing: inherit; vertical-align: inherit;">NFT artworks </span><span style="box-sizing: inherit; vertical-align: inherit;">, and it also serves to generate more valuable community consensus.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">Imagining the future, the NFT issuance model will gradually become </span><span style="box-sizing: inherit; vertical-align: inherit;">a prerequisite standard </span><span style="box-sizing: inherit; vertical-align: inherit;">for </span></span><span style="box-sizing: inherit; font-weight: bolder;">capitalizing NFT artworks</span><span style="box-sizing: inherit; vertical-align: inherit;"> . For example, the blind box issuance model or the NFT Drop model will actually provide an objective reference basis for the more subjective pricing of NFT artworks. The design will actually affect the subsequent pricing and value-added of different types of NFTs.</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">It is worth noting that simply imitating these business models does not necessarily produce high-quality NFT art projects. It can even be foreseen. Similar to the previous ICO boom, 99% of the value of NFT art projects is also zero, and the value of the project is ultimately It depends on whether the work is liked by people or whether the project can achieve a </span><span style="box-sizing: inherit; font-weight: bolder;">strong consensus</span><span style="box-sizing: inherit; vertical-align: inherit;"> .</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">How to avoid those NFT artworks whose value may be zero? </span><span style="box-sizing: inherit; vertical-align: inherit;">I have a few tips to share with readers:</span></span></p><ul style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; list-style-image: initial; list-style-position: inside; margin: 1.6rem 0px 1.6rem 1.6rem; padding: 0px; text-align: justify;"><li style="box-sizing: inherit; margin-top: 0.4rem;"><p style="box-sizing: inherit; display: inline; hyphens: auto; margin: 0px 0px 1.6rem;"><span style="box-sizing: inherit; vertical-align: inherit;">Buy projects that already have a certain strong consensus and value, and stay away from excessively hyped NFT art projects</span></p></li><li style="box-sizing: inherit; margin-top: 0.4rem;"><p style="box-sizing: inherit; display: inline; hyphens: auto; margin: 0px 0px 1.6rem;"><span style="box-sizing: inherit; vertical-align: inherit;">Use aesthetic intuition to buy the works you like, because it is very likely that these works will not be able to change hands in a short time, at least you can leave the things that you like in your heart.</span></p></li><li style="box-sizing: inherit; margin-top: 0.4rem;"><p style="box-sizing: inherit; display: inline; hyphens: auto; margin: 0px 0px 1.6rem;"><span style="box-sizing: inherit; vertical-align: inherit;">The artworks or projects that can be left will definitely have a pioneering or profound impact on social culture, industry, and art history (the way of identification is that if there is no impact now, there will definitely not be a profound impact in the future)</span></p></li></ul><h4 id="nft_3" style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 20px; line-height: 1.5; margin-bottom: 1.2rem; margin-top: 0.4rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">How to sell my NFT artwork? </span><span style="box-sizing: inherit; vertical-align: inherit;">Who will buy it?</span></span></h4><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">When I first entered the field of NFT art collection, my </span><span style="box-sizing: inherit; font-weight: bolder;">biggest concern</span><span style="box-sizing: inherit; vertical-align: inherit;"> was: "If I buy encrypted art at a high price, how long will it take me to sell? Will no one like it and cause it to be unsellable?"</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">In fact, these concerns and problems have always existed in the traditional art field, but the development of infrastructure in the NFT field is seeking to improve these stubborn problems in the traditional art market.</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">Compared with the traditional art market, the current advantages of the encrypted art market include:</span></p><ul style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; list-style-image: initial; list-style-position: inside; margin: 1.6rem 0px 1.6rem 1.6rem; padding: 0px; text-align: justify;"><li style="box-sizing: inherit; margin-top: 0.4rem;"><p style="box-sizing: inherit; display: inline; hyphens: auto; margin: 0px 0px 1.6rem;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">The </span><span style="box-sizing: inherit; vertical-align: inherit;">entrance of </span><span style="box-sizing: inherit; vertical-align: inherit;">" </span></span><span style="box-sizing: inherit; font-weight: bolder;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">Wallet + Platform</span></span></span><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;"> " is simpler, which makes it easier for more ordinary people to participate in auctions, investment, collections and transfers</span></span></p></li><li style="box-sizing: inherit; margin-top: 0.4rem;"><p style="box-sizing: inherit; display: inline; hyphens: auto; margin: 0px 0px 1.6rem;"><span style="box-sizing: inherit; vertical-align: inherit;">The buying and selling process is simpler and more convenient, and more suitable for large funds (the process of bidding and changing hands can be completed in a few minutes, without the intervention of traditional auction houses and banks)</span></p></li><li style="box-sizing: inherit; margin-top: 0.4rem;"><p style="box-sizing: inherit; display: inline; hyphens: auto; margin: 0px 0px 1.6rem;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">On-chain auctions are more open and transparent, and at the same time richer in forms. Due to the traceability characteristics of the blockchain, there is no need to verify the authenticity of artworks. </span><span style="box-sizing: inherit; vertical-align: inherit;">At the same time, it is easier to see other people’s collections and transaction records, adding more social attributes to encrypted artworks</span></span></p></li></ul><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">So, who will buy my NFT artwork?</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">Ben Roy wrote in the article "The Fat CryptoPunks Thesis (Why CryptoPunks will usher in the Cambrian explosion?)": The total market value of CryptoPunks will continue to grow substantially in the next five years, and may even be proportional to the size of the entire NFT market. </span><span style="box-sizing: inherit; vertical-align: inherit;">He took CryptoPunks as an example and divided the future buyers of CryptoPunks into two categories:</span></span></p><ul style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; list-style-image: initial; list-style-position: inside; margin: 1.6rem 0px 1.6rem 1.6rem; padding: 0px; text-align: justify;"><li style="box-sizing: inherit; margin-top: 0.4rem;"><p style="box-sizing: inherit; display: inline; hyphens: auto; margin: 0px 0px 1.6rem;"><span style="box-sizing: inherit; vertical-align: inherit;">There is no cryptocurrency in the holding funds (new entry of high net worth individuals)</span></p></li><li style="box-sizing: inherit; margin-top: 0.4rem;"><p style="box-sizing: inherit; display: inline; hyphens: auto; margin: 0px 0px 1.6rem;"><span style="box-sizing: inherit; vertical-align: inherit;">There are native cryptocurrencies in the holding funds (normal investors of NFT artwork and old guns of NFT)</span></p></li></ul><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">In my imagination, the reason why collectors of future NFT artworks do not need to worry about the problem of not being able to sell high-quality artworks is because the </span><span style="box-sizing: inherit; font-weight: bolder;">infrastructure in the NFT field</span><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;"> will continue to be enriched in the </span><span style="box-sizing: inherit; vertical-align: inherit;">future </span><span style="box-sizing: inherit; vertical-align: inherit;">, such as NFT loan mortgage products, NFT exchanges, etc. Innovative tools will continue to emerge. </span><span style="box-sizing: inherit; vertical-align: inherit;">Buyers of NFT artwork will also attract and cover a large part of the existing cryptocurrency investors, and even robot spread arbitrage (quantitative traders in the NFT field?), liquidity market making on NFT decentralized exchanges, etc. need.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">In the future, the range of people who buy NFT artworks will not only expand, but their attributes will also change. It is possible that the person who buys artworks is not a single person, but a group of people, a pool, or an exchange, or even a robot. </span><span style="box-sizing: inherit; vertical-align: inherit;">At the same time, ordinary NFT artworks can be </span><span style="box-sizing: inherit; vertical-align: inherit;">sold </span><span style="box-sizing: inherit; vertical-align: inherit;">in the liquidity pool at </span></span><span style="box-sizing: inherit; font-weight: bolder;">Floor Price</span><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;"> (the reserve price) </span><span style="box-sizing: inherit; vertical-align: inherit;">at any time </span><span style="box-sizing: inherit; vertical-align: inherit;">, while the high-priced precious encrypted artworks will be </span></span><span style="box-sizing: inherit; font-weight: bolder;">fragmented</span><span style="box-sizing: inherit; vertical-align: inherit;"> into a kind of assets with common property rights to facilitate sales.</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">Although it is still not perfect, the vision of these NFT fields is being realized. More and more NFT projects try to combine with DeFi, and gradually piece together the composable "NFT Lego" in the NFT ecological field.</span></p><h3 id="my-list" style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 22px; line-height: 1.5; margin-bottom: 1.2rem; margin-top: 0.4rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">My List</span></h3><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">Finally, let us see the full picture of the future NFT art market from some of the projects currently exploring and promoting the development of the NFT field:</span></p><h4 id="nft-nftxvery-nifty" style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 20px; line-height: 1.5; margin-bottom: 1.2rem; margin-top: 0.4rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">NFT liquidity / reserve price related items: NFTX, Very Nifty</span></h4><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; font-weight: bolder;">NFTX</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">Introduction: </span><a href="https://web.archive.org/web/20210319023332/https://nftx.org/" style="background-color: transparent; border-bottom: 0.05rem solid rgb(239, 239, 239); box-sizing: inherit; color: #0056ff; padding-bottom: 0.1rem; text-decoration-line: none;" target="_blank"><span style="box-sizing: inherit; vertical-align: inherit;">NFTX</span></a><span style="box-sizing: inherit; vertical-align: inherit;"> is an NFT index fund protocol. Through the creation of </span><span style="box-sizing: inherit; font-weight: bolder;">NFT </span><span style="box-sizing: inherit; vertical-align: inherit;"><a href="https://web.archive.org/web/20210319023332/https://nftx.org/" style="background-color: transparent; border-bottom: 0.05rem solid rgb(239, 239, 239); box-sizing: inherit; color: #0056ff; padding-bottom: 0.1rem; text-decoration-line: none;" target="_blank"><span style="box-sizing: inherit; vertical-align: inherit;">tokenized </span></a><span style="box-sizing: inherit; font-weight: bolder;"><span style="box-sizing: inherit; vertical-align: inherit;">index funds</span></span><span style="box-sizing: inherit; vertical-align: inherit;"> (such as $PUNK), it provides liquidity for illiquid NFTs such as CryptoPunks. It currently supports users to deposit personal NFTs and redeem them randomly . </span><span style="box-sizing: inherit; vertical-align: inherit;">At the same time, NFTX also launched subdivided NFT series collections, such as CryptoPunks's zombie series index fund PUNK-ZOMBIE.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; font-weight: bolder;">Very Nifty</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">Introduction: </span><a href="https://web.archive.org/web/20210319023332/https://nft20.io/" style="background-color: transparent; border-bottom: 0.05rem solid rgb(239, 239, 239); box-sizing: inherit; color: #0056ff; padding-bottom: 0.1rem; text-decoration-line: none;" target="_blank"><span style="box-sizing: inherit; vertical-align: inherit;">Very Nifty</span></a><span style="box-sizing: inherit; vertical-align: inherit;"> is a community-driven </span><span style="box-sizing: inherit; font-weight: bolder;">NFT liquidity + exchange project</span><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;"> . The project divides NFT assets into different asset pools, attracts holders to deposit in NFT and provides liquidity through mining rewards and other modes. </span><span style="box-sizing: inherit; vertical-align: inherit;">At present, the platform supports users to deposit and redeem their personal NFT at any time, and supports the NFT-NFT one-click exchange mode in the NFT pool.</span></span></p><h4 id="nft-nft-protocolniftex" style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 20px; line-height: 1.5; margin-bottom: 1.2rem; margin-top: 0.4rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">NFT transaction and fragmentation related projects: NFT Protocol, NIFTEX</span></h4><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; font-weight: bolder;">NFT Protocol</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">Introduction: </span><a href="https://web.archive.org/web/20210319023332/https://www.nft.org/" style="background-color: transparent; border-bottom: 0.05rem solid rgb(239, 239, 239); box-sizing: inherit; color: #0056ff; padding-bottom: 0.1rem; text-decoration-line: none;" target="_blank"><span style="box-sizing: inherit; vertical-align: inherit;">NFT Protocol</span></a><span style="box-sizing: inherit; vertical-align: inherit;"> aims to establish a decentralized </span><span style="box-sizing: inherit; font-weight: bolder;">NFT exchange</span><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;"> . The platform is currently in the stage of internal testing, and the product will be officially released in the first quarter. </span><span style="box-sizing: inherit; vertical-align: inherit;">The demo currently released supports the swap function of NFT in ERC-721 to ERC-721 and ERC-721 to ERC-20. </span><span style="box-sizing: inherit; vertical-align: inherit;">At the same time, the platform will cooperate with the Flow public chain.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; font-weight: bolder;">NIFTEX</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">Introduction: </span><a href="https://web.archive.org/web/20210319023332/https://www.niftex.com/" style="background-color: transparent; border-bottom: 0.05rem solid rgb(239, 239, 239); box-sizing: inherit; color: #0056ff; padding-bottom: 0.1rem; text-decoration-line: none;" target="_blank"><span style="box-sizing: inherit; vertical-align: inherit;">NIFTEX</span></a><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;"> is </span><span style="box-sizing: inherit; vertical-align: inherit;">a trading platform that </span><span style="box-sizing: inherit; vertical-align: inherit;">supports NFT holders to </span></span><span style="box-sizing: inherit; font-weight: bolder;">fragment NFT</span><span style="box-sizing: inherit; vertical-align: inherit;"> and become ERC-20 tokens. The project aims to provide the function of NFT splitting and sale, and provide restrictions on the prevention of selling, and facilitate investors to deal with high prices. NFT invests.</span></p><h4 id="nft-nftfidrops" style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 20px; line-height: 1.5; margin-bottom: 1.2rem; margin-top: 0.4rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">NFT mortgage and loan related projects: NFTfi, Drops</span></h4><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; font-weight: bolder;">NFTfi</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">Introduction: </span><a href="https://web.archive.org/web/20210319023332/https://nftfi.com/" style="background-color: transparent; border-bottom: 0.05rem solid rgb(239, 239, 239); box-sizing: inherit; color: #0056ff; padding-bottom: 0.1rem; text-decoration-line: none;" target="_blank"><span style="box-sizing: inherit; vertical-align: inherit;">NFTfi</span></a><span style="box-sizing: inherit; vertical-align: inherit;"> aims to become NFT's </span><span style="box-sizing: inherit; font-weight: bolder;">peer-to-peer mortgage lending platform</span><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;"> . </span><span style="box-sizing: inherit; vertical-align: inherit;">Users can choose to mortgage NFT and lend assets such as ETH or DAI. </span><span style="box-sizing: inherit; vertical-align: inherit;">If the borrower defaults, the ownership of the NFT will be transferred to the lender.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; font-weight: bolder;">Drops</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">Introduction: Drops aims to become </span><span style="box-sizing: inherit; font-weight: bolder;">a lottery, pledge and loan platform</span><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;"> for </span><span style="box-sizing: inherit; font-weight: bolder;"><span style="box-sizing: inherit; vertical-align: inherit;">NFT</span></span><span style="box-sizing: inherit; vertical-align: inherit;"> . The project is still in the development stage and was founded by the team of the blockchain game Noderuner.</span></span></p><blockquote style="background: rgb(250, 250, 250); border-bottom-color: rgb(230, 229, 229); border-left: 0.1rem solid rgb(230, 229, 229); border-right-color: rgb(230, 229, 229); border-top-color: rgb(230, 229, 229); box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; margin: 1.6rem 0px; outline: 0px; padding: 1.2rem; text-align: justify;"><p style="box-sizing: inherit; hyphens: auto; margin: 0px 0px 1.6rem;"><span style="box-sizing: inherit; vertical-align: inherit;">Reference article:</span></p><p style="box-sizing: inherit; hyphens: auto; margin: 0px 0px 1.6rem;"><span style="box-sizing: inherit; vertical-align: inherit;">"NFTs and a Thousand True Fans"</span><br style="box-sizing: inherit;" /><a href="https://web.archive.org/web/20210319023332/https://a16z.com/2021/02/27/nfts-and-a-thousand-true-fans/" style="background-color: transparent; border-bottom: 0.05rem solid rgb(239, 239, 239); box-sizing: inherit; color: #0056ff; padding-bottom: 0.1rem; text-decoration-line: none;" target="_blank"><span style="box-sizing: inherit; vertical-align: inherit;">https://a16z.com/2021/02/27/nfts-and-a-thousand-true-fans/</span></a></p><p style="box-sizing: inherit; hyphens: auto; margin: 0px 0px 1.6rem;"><span style="box-sizing: inherit; vertical-align: inherit;">"How Hashmasks Are Setting the Standard for Digital Art"</span><br style="box-sizing: inherit;" /><a href="https://web.archive.org/web/20210319023332/https://www.coindesk.com/hashmasks-set-standard-digital-art-nft" style="background-color: transparent; border-bottom: 0.05rem solid rgb(239, 239, 239); box-sizing: inherit; color: #0056ff; padding-bottom: 0.1rem; text-decoration-line: none;" target="_blank"><span style="box-sizing: inherit; vertical-align: inherit;">https://www.coindesk.com/hashmasks-set-standard-digital-art-nft</span></a></p><p style="box-sizing: inherit; hyphens: auto; margin: 0px 0px 1.6rem;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">"How to understand Gombrich's "There is actually no such thing as art, only artists"? </span><span style="box-sizing: inherit; vertical-align: inherit;">》</span></span><br style="box-sizing: inherit;" /><a href="https://web.archive.org/web/20210319023332/https://www.zhihu.com/question/21809919/answer/1681965297" style="background-color: transparent; border-bottom: 0.05rem solid rgb(239, 239, 239); box-sizing: inherit; color: #0056ff; padding-bottom: 0.1rem; text-decoration-line: none;" target="_blank"><span style="box-sizing: inherit; vertical-align: inherit;">Https://www.zhihu.com/question/21809919/answer/1681965297</span></a></p><p style="box-sizing: inherit; hyphens: auto; margin: 0px 0px 1.6rem;"><span style="box-sizing: inherit; vertical-align: inherit;">"The Fat CryptoPunks Thesis"</span><br style="box-sizing: inherit;" /><a href="https://web.archive.org/web/20210319023332/https://ben-roy.medium.com/the-fat-cryptopunks-thesis-d397601e5748" style="background-color: transparent; border-bottom: 0.05rem solid rgb(239, 239, 239); box-sizing: inherit; color: #0056ff; padding-bottom: 0.1rem; text-decoration-line: none;" target="_blank"><span style="box-sizing: inherit; vertical-align: inherit;">https://ben-roy.medium.com/the-fat-cryptopunks-thesis-d397601e5748</span></a></p><p style="box-sizing: inherit; hyphens: auto; margin: 0px 0px 1.6rem;"><span style="box-sizing: inherit; vertical-align: inherit;">Chinese version: </span><a href="https://web.archive.org/web/20210319023332/https://www.chainnews.com/articles/794607667815.htm" style="background-color: transparent; border-bottom: 0.05rem solid rgb(239, 239, 239); box-sizing: inherit; color: #0056ff; padding-bottom: 0.1rem; text-decoration-line: none;" target="_blank"><span style="box-sizing: inherit; vertical-align: inherit;">https://www.chainnews.com/articles/794607667815.htm</span></a><br style="box-sizing: inherit;" /><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">"Cao Yin: Rethinking the scarcity of encrypted artworks, who is more worthy of investment in multi-edition limited edition and single product? </span><span style="box-sizing: inherit; vertical-align: inherit;">》</span></span></p><p style="box-sizing: inherit; hyphens: auto; margin: 0px; outline: 0px;"><a href="https://web.archive.org/web/20210319023332/https://www.chainnews.com/articles/525007511909.htm" style="background-color: transparent; border-bottom: 0.05rem solid rgb(239, 239, 239); box-sizing: inherit; color: #0056ff; padding-bottom: 0.1rem; text-decoration-line: none;" target="_blank"><span style="box-sizing: inherit; vertical-align: inherit;">https://www.chainnews.com/articles/525007511909.htm</span></a></p></blockquote>Nischal Lal Shresthahttp://www.blogger.com/profile/05625422095651611201noreply@blogger.com0tag:blogger.com,1999:blog-8831307421570903483.post-29134141127126040582021-11-26T20:30:00.002-08:002021-11-26T20:30:19.906-08:00Your encrypted artwork is beautiful, how to show it? How to display encrypted artwork?<p></p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/a/AVvXsEh9qmJM9ctsUPGEQKhE535XniPqbDy9Z4GFoTw20pXaRw2XLrikhGAmaAGAK4vS2K8j-zP14UkXlcdhJsKHf9lacIyrwU-fhBmB3EAgpxRYNr4XeNXG2ds8Mn198ToJjkZeyYYtTpsI3l6ltqtvMyojM6YhscE3jf04ZpFSty-6czsqpKT-JQ7GGrkZ=s1000" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="1000" data-original-width="1000" height="640" src="https://blogger.googleusercontent.com/img/a/AVvXsEh9qmJM9ctsUPGEQKhE535XniPqbDy9Z4GFoTw20pXaRw2XLrikhGAmaAGAK4vS2K8j-zP14UkXlcdhJsKHf9lacIyrwU-fhBmB3EAgpxRYNr4XeNXG2ds8Mn198ToJjkZeyYYtTpsI3l6ltqtvMyojM6YhscE3jf04ZpFSty-6czsqpKT-JQ7GGrkZ=w640-h640" width="640" /></a></div><br /> <p></p><p><span style="background-color: white; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; text-align: justify;">Your NFTs are very beautiful, show them to the world!</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">What is the best way to display encrypted artwork?</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">This question is a good question. Both new and old players of NFT will encounter this question because they all want to show their NFT.</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">Fortunately, here are some good ways to display NFT for you to choose from.</span></p><h3 id="nft" style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 22px; line-height: 1.5; margin-bottom: 1.2rem; margin-top: 0.4rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">Why show NFT?</span></h3><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">People collect encrypted art NFTs to appreciate art, support artists, express personal ideas, or as alternative investments. </span><span style="box-sizing: inherit; vertical-align: inherit;">In these aspects, the display and sharing of encryption art is an indispensable part.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><img alt="Your encrypted artwork is beautiful, how to show it?" loading="lazy" src="https://web.archive.org/web/20210322085817im_/https://img.chainnews.com/material/images/999b243503165fff95a7f037208ccc54.png-article" style="border: 0px; box-sizing: inherit; display: block; height: auto; margin: 1rem auto; max-width: 100%;" /><em style="box-sizing: inherit; color: #737373; display: inline-block; font-size: 0.7rem; text-align: center; width: 688px;"><span style="box-sizing: inherit; vertical-align: inherit;">Source: Async Art Gallery App</span></em></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">If you just put your NFT in your wallet, you can't easily take it out and appreciate it. </span><span style="box-sizing: inherit; vertical-align: inherit;">In addition, if you can show the NFT to more people and let more eyes see it, then your support for an artist will have a greater influence.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">In addition, you can also use encrypted art NFT to express your intuitive ideas, just like people tailor their own clothes for fashion. </span><span style="box-sizing: inherit; vertical-align: inherit;">And if you are investing in crypto art, then showing your NFT is the preferred way to support and convey the intrinsic value of your work.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">Fortunately, no matter what the specific needs are, you can display NFT in the following four ways.</span></p><h3 id="nft_1" style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 22px; line-height: 1.5; margin-bottom: 1.2rem; margin-top: 0.4rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">NFT display website</span></h3><ol style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; list-style-image: initial; list-style-position: inside; margin: 1.6rem 0px 1.6rem 1.6rem; padding: 0px; text-align: justify;"><li style="box-sizing: inherit; margin-top: 0.4rem;"><span style="box-sizing: inherit; vertical-align: inherit;">Flawnt</span></li><li style="box-sizing: inherit; margin-top: 0.4rem;"><span style="box-sizing: inherit; vertical-align: inherit;">Showtime</span></li></ol><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">These NFT display sites will be connected to the wallet, and you can choose which encrypted artwork to display. </span><span style="box-sizing: inherit; vertical-align: inherit;">Flawnt is more similar to a curatorial website, users can easily create their own NFT gallery and share it with everyone. </span><span style="box-sizing: inherit; vertical-align: inherit;">Showtime, on the other hand, is more like a social network, providing creators with a channel for viewing and discussing the works of others.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><img alt="Your encrypted artwork is beautiful, how to show it?" loading="lazy" src="https://web.archive.org/web/20210322085817im_/https://img.chainnews.com/material/images/d7a84852009354cfb275711f1cbfd381.png-article" style="border: 0px; box-sizing: inherit; display: block; height: auto; margin: 1rem auto; max-width: 100%;" /><em style="box-sizing: inherit; color: #737373; display: inline-block; font-size: 0.7rem; text-align: center; width: 688px;"><span style="box-sizing: inherit; vertical-align: inherit;">Source: Flawnt.me</span></em></p><h3 id="_1" style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 22px; line-height: 1.5; margin-bottom: 1.2rem; margin-top: 0.4rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">Electronic screen</span></h3><ol style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; list-style-image: initial; list-style-position: inside; margin: 1.6rem 0px 1.6rem 1.6rem; padding: 0px; text-align: justify;"><li style="box-sizing: inherit; margin-top: 0.4rem;"><span style="box-sizing: inherit; vertical-align: inherit;">Infinite Objects</span></li><li style="box-sizing: inherit; margin-top: 0.4rem;"><span style="box-sizing: inherit; vertical-align: inherit;">Meural</span></li><li style="box-sizing: inherit; margin-top: 0.4rem;"><span style="box-sizing: inherit; vertical-align: inherit;">Apple TV</span></li><li style="box-sizing: inherit; margin-top: 0.4rem;"><span style="box-sizing: inherit; vertical-align: inherit;">The Frame by Samsung</span></li></ol><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">Electronic screens are a great way to bring encryption art into daily life. </span><span style="box-sizing: inherit; vertical-align: inherit;">This is a simpler choice. You can use an electronic photo album to display the NFT and decorate the living space, which is economical and affordable. </span><span style="box-sizing: inherit; vertical-align: inherit;">In addition, there are some high-quality electronic screens to choose from, such as Infinite Objects and Meural. Through these screens, you can display NFTs more beautifully. </span><span style="box-sizing: inherit; vertical-align: inherit;">Since last year, televisions, such as Apple TV, have also been welcomed by more and more encrypted art collectors.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><img alt="Your encrypted artwork is beautiful, how to show it?" loading="lazy" src="https://web.archive.org/web/20210322085817im_/https://img.chainnews.com/material/images/460cf3c05e5f5aa7bf7b69aa604e6817.png-article" style="border: 0px; box-sizing: inherit; display: block; height: auto; margin: 1rem auto; max-width: 100%;" /></p><h3 id="metaverse" style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 22px; line-height: 1.5; margin-bottom: 1.2rem; margin-top: 0.4rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">Metaverse gallery</span></h3><ol style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; list-style-image: initial; list-style-position: inside; margin: 1.6rem 0px 1.6rem 1.6rem; padding: 0px; text-align: justify;"><li style="box-sizing: inherit; margin-top: 0.4rem;"><span style="box-sizing: inherit; vertical-align: inherit;">Cryptovoxels</span></li><li style="box-sizing: inherit; margin-top: 0.4rem;"><span class="project-highlight" id="project-decentraland" style="box-sizing: inherit; cursor: pointer; font-weight: 700; margin: 0px 0.1em; position: relative;" tabindex="0"><span style="border-bottom: 0.05rem solid rgb(239, 239, 239); box-sizing: inherit; padding-bottom: 0.1rem;"><span style="box-sizing: inherit; vertical-align: inherit;">Decentraland</span></span></span></li><li style="box-sizing: inherit; margin-top: 0.4rem;"><span style="box-sizing: inherit; vertical-align: inherit;">Somnium Space</span></li></ol><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">Soon, the Internet will no longer be a simple page, because the metaverse shared virtual space has developed rapidly. </span><span style="box-sizing: inherit; vertical-align: inherit;">In Ethereum, pioneering virtual reality projects have made great contributions to the early development of metaverse, and many encrypted art galleries have also been established in these projects. </span><span style="box-sizing: inherit; vertical-align: inherit;">Collectors can create a virtual gallery to share their NFT collections with visitors from all over the world.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">For example, the M○C△ Crypto Art Museum has one of the most beautiful metaverse galleries to date. </span><span style="box-sizing: inherit; vertical-align: inherit;">If you have time, you can check it out and feel the various encrypted artworks!</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><img alt="Your encrypted artwork is beautiful, how to show it?" loading="lazy" src="https://web.archive.org/web/20210322085817im_/https://img.chainnews.com/material/images/29e2a284dc065beaba551d69e138f6e4.png-article" style="border: 0px; box-sizing: inherit; display: block; height: auto; margin: 1rem auto; max-width: 100%;" /></p><h3 id="_2" style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 22px; line-height: 1.5; margin-bottom: 1.2rem; margin-top: 0.4rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">print it out!</span></h3><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; outline: 0px; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">Another way to display encrypted artwork is to print the NFT so that it can be hung up at home for appreciation. </span><span style="box-sizing: inherit; vertical-align: inherit;">There are many printing methods to choose from, so you can do some research, find a suitable printing method, and start printing!</span></span></p>Nischal Lal Shresthahttp://www.blogger.com/profile/05625422095651611201noreply@blogger.com0tag:blogger.com,1999:blog-8831307421570903483.post-69219985734962504602021-11-26T20:27:00.004-08:002021-11-26T20:27:49.822-08:00NFT is an artist's money game? Brief analysis of NFT value and storage method. NFT is a game where artists talk about money?<p> <span style="background-color: #fafafa; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; text-align: justify;">"When bankers have dinner, they talk about art; when artists have dinner, they talk about money."</span></p><blockquote style="background: rgb(250, 250, 250); border-bottom-color: rgb(230, 229, 229); border-left: 0.1rem solid rgb(230, 229, 229); border-right-color: rgb(230, 229, 229); border-top-color: rgb(230, 229, 229); box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; margin: 1.6rem 0px; padding: 1.2rem; text-align: justify;"><p style="box-sizing: inherit; hyphens: auto; margin: 0px;"><span style="box-sizing: inherit; vertical-align: inherit;">——Oscar Wilde (1854-1900)</span></p></blockquote><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"></p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/a/AVvXsEiZ5GQAZLKfj6l39PVwPRw2a2IthHrohs7WakXaWIrt7RnHkGXACAs5NnecZ39u_b-qdRpF2MctHIfZReR3QiWEzsSf1pR_9XTqeUDq0mqxwhZ5oH42mX_7wfULR5STSAVu3P8S9STZKcBDxiyB5Uutsl-varaCA93ViwHNI32p2CxUQNzuLeFDJ2n6=s1024" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="1024" data-original-width="1024" height="640" src="https://blogger.googleusercontent.com/img/a/AVvXsEiZ5GQAZLKfj6l39PVwPRw2a2IthHrohs7WakXaWIrt7RnHkGXACAs5NnecZ39u_b-qdRpF2MctHIfZReR3QiWEzsSf1pR_9XTqeUDq0mqxwhZ5oH42mX_7wfULR5STSAVu3P8S9STZKcBDxiyB5Uutsl-varaCA93ViwHNI32p2CxUQNzuLeFDJ2n6=w640-h640" width="640" /></a></div><br /><span style="box-sizing: inherit; vertical-align: inherit;"><br /></span><p></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">Last week, </span><span class="project-highlight" id="project-filecoin" style="box-sizing: inherit; cursor: pointer; font-weight: 700; margin: 0px 0.1em; position: relative;" tabindex="0"><span style="border-bottom: 0.05rem solid rgb(239, 239, 239); box-sizing: inherit; padding-bottom: 0.1rem;"><span style="box-sizing: inherit; vertical-align: inherit;">Filecoin</span></span></span><span style="box-sizing: inherit; vertical-align: inherit;"> /IPFS founder Juan tweeted: </span><span style="box-sizing: inherit; font-weight: bolder;">“NFT not stored on IPFS is not your NFT”. </span><span style="box-sizing: inherit; vertical-align: inherit;">He also </span><span class="project-highlight" id="project-opensea" style="box-sizing: inherit; cursor: pointer; font-weight: 700; margin: 0px 0.1em; position: relative;" tabindex="0"><span style="border-bottom: 0.05rem solid rgb(239, 239, 239); box-sizing: inherit; padding-bottom: 0.1rem;"><span style="box-sizing: inherit; vertical-align: inherit;">reposted</span></span></span><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;"> a post about discussing the true ownership of artworks, which described an artist </span><span style="box-sizing: inherit; vertical-align: inherit;">creating his own artworks </span><span style="box-sizing: inherit; vertical-align: inherit;">based on </span><span class="project-highlight" id="project-opensea" style="box-sizing: inherit; cursor: pointer; font-weight: 700; margin: 0px 0.1em; position: relative;" tabindex="0"><span style="border-bottom: 0.05rem solid rgb(239, 239, 239); box-sizing: inherit; padding-bottom: 0.1rem;"><span style="box-sizing: inherit; vertical-align: inherit;">OpenSea</span></span></span><span style="box-sizing: inherit; vertical-align: inherit;"> , the NFT trading platform of the </span><span class="project-highlight" id="project-opensea" style="box-sizing: inherit; cursor: pointer; font-weight: 700; margin: 0px 0.1em; position: relative;" tabindex="0"><span style="border-bottom: 0.05rem solid rgb(239, 239, 239); box-sizing: inherit; padding-bottom: 0.1rem;"><span style="box-sizing: inherit; vertical-align: inherit;">Ethereum</span></span></span><span style="box-sizing: inherit; vertical-align: inherit;"> ecosystem </span><span style="box-sizing: inherit; vertical-align: inherit;">, and questioning the ownership storage certificate of the artworks, rather than signature confirmation.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">The above exchanges have brought some thoughts to IPFS: What is the latest market status in the market? </span><span style="box-sizing: inherit; vertical-align: inherit;">How does IPFS confirm NFT rights? </span><span style="box-sizing: inherit; vertical-align: inherit;">How is the value of NFT defined? </span><span style="box-sizing: inherit; vertical-align: inherit;">Explained one by one below.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><img alt="The Force Research | NFT is a game where artists talk about money?" loading="lazy" src="https://web.archive.org/web/20210317031641im_/https://img.chainnews.com/material/images/90a6a6ead844818add74f1f420d17d33.jpg-article" style="border: 0px; box-sizing: inherit; display: block; height: auto; margin: 1rem auto; max-width: 100%;" /></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; font-weight: bolder;">There is a saying in the market that describes NFT as follows: Except currency, everything can be NFT. </span><span style="box-sizing: inherit; vertical-align: inherit;">Those who do not have a preliminary understanding of NFT can read the article "Messari: A Comprehensive Understanding of NFT".</span></p><h3 id="nft" style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 22px; line-height: 1.5; margin-bottom: 1.2rem; margin-top: 0.4rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">NFT standard definition and market direction</span></h3><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">At present, the mainstream NFTs on the market are developed and applied based on Ethereum. The main standard definitions are: ERC-721 and ERC-1155. </span><span style="box-sizing: inherit; vertical-align: inherit;">Among them, ERC-721 is a completely non-homogeneous token, and ERC-1155 is a semi-homogeneous token. The difference is: ERC-721 describes a single asset, and ERC-1155 describes a single asset. </span></span><span style="box-sizing: inherit; font-weight: bolder;">Take Unisocks, a socks that has recently sold for more than 30 million US dollars as an example. The socks have a total circulation of 500 pairs in the market. If ERC-721 is used as the standard definition, only one pair of socks can be transferred at a time; ERC-1155 As a standard definition, it is possible to transfer multiple quantities of socks of the same category at one time.</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><img alt="The Force Research | NFT is a game where artists talk about money?" loading="lazy" src="https://web.archive.org/web/20210317031641im_/https://img.chainnews.com/material/images/684456bd19ab5021ff1ecf961a8f84d1.jpg-article" style="border: 0px; box-sizing: inherit; display: block; height: auto; margin: 1rem auto; max-width: 100%;" /></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">Briefly introduce the market direction of NFT with two products, namely: Flow and OpenSea, which represent IP and module simplified artistic creation respectively.</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; font-weight: bolder;">Simplified structure of modules. </span><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">OpenSea is the largest NFT trading platform based on Ethereum, with a total transaction volume of over US$90 million in February. </span><span style="box-sizing: inherit; vertical-align: inherit;">OpenSea was initially dedicated to the development of modular tools for NFT. As the market rises, its NFT trading platform has been picked up by waves. </span></span><span style="box-sizing: inherit; font-weight: bolder;">The advantage is: art creators can quickly create art based on OpenSea without paying gas fees, not just confirming rights. </span><span style="box-sizing: inherit; vertical-align: inherit;">Compared with this, the market for modular tools is larger, but the drawback is that the high gas fee on Ethereum hinders the rapid development of NFT.</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><img alt="The Force Research | NFT is a game where artists talk about money?" loading="lazy" src="https://web.archive.org/web/20210317031641im_/https://img.chainnews.com/material/images/69bcab7b8e0a359f8f4a39a5c146a8dc.jpg-article" style="border: 0px; box-sizing: inherit; display: block; height: auto; margin: 1rem auto; max-width: 100%;" /><em style="box-sizing: inherit; color: #737373; display: inline-block; font-size: 0.7rem; text-align: center; width: 688px;"><span style="box-sizing: inherit; vertical-align: inherit;">OpenSea official website</span></em></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; font-weight: bolder;">IP breaks the circle of business models. </span><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">It is precisely because the gas fee on Ethereum is too high that Flow can emerge from the world. </span><span style="box-sizing: inherit; vertical-align: inherit;">Flow is a public chain that focuses on NFT. The difference from Ethereum is to improve the expansion speed and throughput performance to show superiority. </span></span><span style="box-sizing: inherit; font-weight: bolder;">Flow mainly uses IP to launch products to break the circle.</span><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;"> This mode is somewhat similar to a mobile game. </span><span style="box-sizing: inherit; vertical-align: inherit;">At present, it has launched the NBA TOP SHOT. In the future, it will cooperate with UFC, the world's top and largest professional mixed martial arts tournament, and launch NFT.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><img alt="The Force Research | NFT is a game where artists talk about money?" loading="lazy" src="https://web.archive.org/web/20210317031641im_/https://img.chainnews.com/material/images/604699ec4388511aa90bcda76be3ab15.jpg-article" style="border: 0px; box-sizing: inherit; display: block; height: auto; margin: 1rem auto; max-width: 100%;" /></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">Flow represents a business model, which is also a relatively mature business model in the market; while OpenSea represents an underlying protocol/application protocol. When the NFT commercial market is not fully marketed, solving technical problems may be more beneficial to the NFT market Really move forward.</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">After understanding the NFT market, let's understand why IPFS is more suitable for NFT.</span></p><h3 id="filecoin-nft" style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 22px; line-height: 1.5; margin-bottom: 1.2rem; margin-top: 0.4rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">Filecoin and NFT fit naturally</span></h3><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">So how is NFT stored on Ethereum? </span><span style="box-sizing: inherit; vertical-align: inherit;">Because it is difficult to achieve full chaining for the current Ethereum network, it </span><span style="box-sizing: inherit; font-weight: bolder;"><span style="box-sizing: inherit; vertical-align: inherit;">is mainly</span></span><span style="box-sizing: inherit; vertical-align: inherit;"> expensive and difficult to implement. Therefore, it is </span></span><span style="box-sizing: inherit; font-weight: bolder;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">generally mainly used to store documents with hash values (centralized servers or IPFS) offline to cast NFT communication. certificate. </span><span style="box-sizing: inherit; vertical-align: inherit;">But if it is stored on a centralized server, there is still the possibility of being tampered with or deleted.</span></span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">IPFS/Filecoin itself is a decentralized storage protocol, which can store a large amount of data in various situations, and can ensure that the data cannot be tampered with. </span><span style="box-sizing: inherit; vertical-align: inherit;">In this regard, Juan suggested that only NFTs stored on IPFS can truly ensure ownership.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><img alt="The Force Research | NFT is a game where artists talk about money?" loading="lazy" src="https://web.archive.org/web/20210317031641im_/https://img.chainnews.com/material/images/0970610c9f471209b960e8cf1a2b4482.jpg-article" style="border: 0px; box-sizing: inherit; display: block; height: auto; margin: 1rem auto; max-width: 100%;" /><em style="box-sizing: inherit; color: #737373; display: inline-block; font-size: 0.7rem; text-align: center; width: 688px;"><span style="box-sizing: inherit; vertical-align: inherit;">pinata.cloud</span></em></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; font-weight: bolder;">Pinata: IPFS/Filecoin chain mover. </span><span style="box-sizing: inherit; vertical-align: inherit;">Pinata is the role that connects the NFT platform to move NFT from Web 2.0 to Web 3.0. For example, Rarible, known as NFT music Taobao, and OpenSea, the world’s largest NFT trading platform, will provide a permanent storage method through Pinata’s Pin Manager service. Record the ownership of the NFT locally.</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">Currently Filecoin technology can only support off-chain storage in the NFT market. With the implementation of Filecoin smart contracts in the future, NFT can exchange data and value based on Filecoin itself.</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">After discussing the NFT storage method, what is the value of NFT? </span><span style="box-sizing: inherit; vertical-align: inherit;">And how to determine?</span></span></p><h3 id="nft_1" style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 22px; line-height: 1.5; margin-bottom: 1.2rem; margin-top: 0.4rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">NFT value = practical value + cultural value + artistic value + economic value</span></h3><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">The recent NFT boom has repeatedly pushed the price of NFT art to new highs. Recent examples include: on March 11, digital artist Beeple’s artwork was sold at Christie’s for a high price of $69 million; Donald Trump’s animation clip was filmed. The high price of 6.6 million U.S. dollars; LeBron James and other NBA players' "highlight moments" in the NBA Top Shot set a sales of more than 230 million U.S. dollars.</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><img alt="The Force Research | NFT is a game where artists talk about money?" loading="lazy" src="https://web.archive.org/web/20210317031641im_/https://img.chainnews.com/material/images/08ce0c25c71f929471d57ae0b0c10ccd.jpg-article" style="border: 0px; box-sizing: inherit; display: block; height: auto; margin: 1rem auto; max-width: 100%;" /><em style="box-sizing: inherit; color: #737373; display: inline-block; font-size: 0.7rem; text-align: center; width: 688px;"><span style="box-sizing: inherit; vertical-align: inherit;">Beeple's NFT collage "Everydays: The First 5000 Days" sold at Christie's</span></em></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">So, what are the specific values of NFT? </span><span style="box-sizing: inherit; vertical-align: inherit;">The author believes that it may be composed of practical value, cultural value, artistic value and economic value.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; font-weight: bolder;">Practical value is the value of the NFT itself, such as tickets, real estate, equity and insurance, etc., all have actual scene value. </span><span style="box-sizing: inherit; vertical-align: inherit;">Even works of art have their value in the study of academic attainments, such as the aesthetic principles behind the "Smile of the Mona Lisa", and the "Surfing the River on Qingming Festival" reflects the market culture at that time.</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><img alt="The Force Research | NFT is a game where artists talk about money?" loading="lazy" src="https://web.archive.org/web/20210317031641im_/https://img.chainnews.com/material/images/a2f2364f170bb46683b23e7e0cf90bae.jpg-article" style="border: 0px; box-sizing: inherit; display: block; height: auto; margin: 1rem auto; max-width: 100%;" /><em style="box-sizing: inherit; color: #737373; display: inline-block; font-size: 0.7rem; text-align: center; width: 688px;"><span style="box-sizing: inherit; vertical-align: inherit;">"Mona Lisa" on display at the Louvre Museum</span></em></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; font-weight: bolder;">Cultural value is relatively subjective, a bit similar to the reputation valuation of listed companies, and is biased towards a sense of value identity. </span><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">Cultural value is aimed at some objects with historical, cultural and temporal significance. It is possible that scarcity will give them higher value. </span><span style="box-sizing: inherit; vertical-align: inherit;">For example, the bronze statue of the beast heads of the twelve zodiac animals in the Old Summer Palace belongs to the historical testimony of the burning of the Old Summer Palace in the Qing Dynasty, so it has collection value. Even the beast heads that everyone imitated in the later period also have a certain historical and cultural value.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><img alt="The Force Research | NFT is a game where artists talk about money?" loading="lazy" src="https://web.archive.org/web/20210317031641im_/https://img.chainnews.com/material/images/37f5e2d4ec70598fa9c08bfefc9f089c.jpg-article" style="border: 0px; box-sizing: inherit; display: block; height: auto; margin: 1rem auto; max-width: 100%;" /></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; font-weight: bolder;">The volatility of artistic value is relatively large, and varies with each person's aesthetics. </span><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">Generally speaking, the image of a work is original and not plagiarized, and the colors are naturally coordinated and pleasing to the eye, and the work has a high visual value. </span><span style="box-sizing: inherit; vertical-align: inherit;">Suppose that coupled with the paintings by famous artists, the quantity is lacking, and the artwork itself has some cultural significance (Picasso's "Two Women Running by the Sea" created a new artistic situation of Cubism).</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><img alt="The Force Research | NFT is a game where artists talk about money?" loading="lazy" src="https://web.archive.org/web/20210317031641im_/https://img.chainnews.com/material/images/5cd54674288546f26fc0c9a7e6f18bbf.jpg-article" style="border: 0px; box-sizing: inherit; display: block; height: auto; margin: 1rem auto; max-width: 100%;" /><em style="box-sizing: inherit; color: #737373; display: inline-block; font-size: 0.7rem; text-align: center; width: 688px;"><span style="box-sizing: inherit; vertical-align: inherit;">Picasso's Cubist works: "Two Women Running by the Sea"</span></em></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; font-weight: bolder;">Economic value is the operation of some market hype. </span><span style="box-sizing: inherit; vertical-align: inherit;">For example, street artist banksy destroys his own work and then turns it into an NFT encrypted artwork for public sale for $95,000, etc., through some means to make the market less rational.</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">As for the recent art NFT, because it has not been settled for a long time, it may be biased towards cultural value and economic value, and the cultural value is not very obvious. There is a certain degree of instability in its value, that is, there is a certain bubble.</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">It is precisely because of this bubble that the blockchain can get out of the circle and attract more art creators to participate in creation.</span></p><h3 id="clubhouse-nft" style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 22px; line-height: 1.5; margin-bottom: 1.2rem; margin-top: 0.4rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">End of the article: Clubhouse's voice on NFT</span></h3><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">The author found that the topic of NFT has been popular on Clubhouse, and it is mainly divided into two groups: insiders and outsiders. The following are some views.</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; font-weight: bolder;">Views from outsiders:</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">The wealth effect of NFT artworks has attracted a large number of people to look for business opportunities, including art creators and other creators. </span><span style="box-sizing: inherit; vertical-align: inherit;">During the discussion, the </span></span><span style="box-sizing: inherit; font-weight: bolder;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">author found that each field (artwork, equity, etc.) has a deep gap-each field has its own problems, but how can NFT really cut into this field? </span><span style="box-sizing: inherit; vertical-align: inherit;">It may be necessary to start from the actual situation of the track.</span></span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; font-weight: bolder;">Insider's point of view:</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; font-weight: bolder;">Infrastructure investors:</span><span style="box-sizing: inherit; vertical-align: inherit;"> The beginning of an industry is definitely inseparable from the establishment of its infrastructure, because the vertical track develops relatively quickly and is more conducive to the development of NFT.</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; font-weight: bolder;">Art hobby holders:</span><span style="box-sizing: inherit; vertical-align: inherit;"> They like art creation and have a certain ability to appreciate art, so they will invest according to their hobbies, and will not pay much attention to the investment value of NFT in the short term.</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; outline: 0px; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">Of course, the economic value of art will also bring many people who hope to find profit opportunities from it, but in this NFT auction, who will be the ultimate winner? </span><span style="box-sizing: inherit; font-weight: bolder;">It may be the blockchain and the art industry.</span></p>Nischal Lal Shresthahttp://www.blogger.com/profile/05625422095651611201noreply@blogger.com0tag:blogger.com,1999:blog-8831307421570903483.post-40914170703494464312021-11-26T20:25:00.004-08:002021-11-26T20:25:43.530-08:00NFT generates income for artists, but the problem of infringement caused by it cannot be ignored<p> <span style="background-color: white; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; font-weight: bolder; text-align: justify;">Content overview</span></p><ul style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; list-style-image: initial; list-style-position: inside; margin: 1.6rem 0px 1.6rem 1.6rem; padding: 0px; text-align: justify;"><li style="box-sizing: inherit; margin-top: 0.4rem;"><p style="box-sizing: inherit; display: inline; hyphens: auto; margin: 0px 0px 1.6rem;"><span style="box-sizing: inherit; vertical-align: inherit;">NFT has caused new infringement issues, which will make artists feel frustrated;</span></p></li><li style="box-sizing: inherit; margin-top: 0.4rem;"><p style="box-sizing: inherit; display: inline; hyphens: auto; margin: 0px 0px 1.6rem;"><span style="box-sizing: inherit; vertical-align: inherit;">From a larger perspective, although there are problems, NFT has not been paid attention to because it has brought new sources of income to artists.</span></p></li></ul><div style="text-align: justify;"><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/a/AVvXsEgJOzpGVwwXjiMiKmZLrODnn4cC6aN0-xJ_Xn1l389x6yxKPP4YC_P99gmEhC4WFEwWo4WemEwFGWt5QcQ0oSLuzl465qtvajmNEWXcgcROrGxt9NeIKIwEXsTC8z27QjrZcGWfu_IfaLws1FGh8ysRWtfcrqCXesdi_bj4_SsAaEFqffZ62nneJEuF=s512" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="512" data-original-width="512" height="640" src="https://blogger.googleusercontent.com/img/a/AVvXsEgJOzpGVwwXjiMiKmZLrODnn4cC6aN0-xJ_Xn1l389x6yxKPP4YC_P99gmEhC4WFEwWo4WemEwFGWt5QcQ0oSLuzl465qtvajmNEWXcgcROrGxt9NeIKIwEXsTC8z27QjrZcGWfu_IfaLws1FGh8ysRWtfcrqCXesdi_bj4_SsAaEFqffZ62nneJEuF=w640-h640" width="640" /></a></div><br /><span style="color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, SF Pro SC, SF Pro Text, Segoe UI, Roboto, Helvetica Neue, sans-serif;"><br /></span></div><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">If you want to pick a key word for 2021, then "NFT" will be selected in all likelihood.</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">NFT, or non-homogeneous token, is a non-replicable virtual asset that cannot be divided and there is no need to worry about theft. </span><span style="box-sizing: inherit; vertical-align: inherit;">Since the blockchain is a decentralized, publicly viewable and tamper-proof ledger, the virtual goods you have can verify the scarcity. These virtual goods can be part or all of digital art, or they can be in popular culture. Some classic moment.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">Although many people are still a little confused and puzzled by the NFT boom and the technology behind it, no one denies one thing: NFT is really profitable! </span><span style="box-sizing: inherit; vertical-align: inherit;">In recent weeks, buyers have invested heavily in NFT works. For example, a series of NFT collections by the musician and visual artist Grimes were sold for more than $6 million; the famous crypto artist Beeple’s NFT work "Everydays: The First 5000" "Days" was bought by the founder of NFT fund Metapurse Metakovan at Christie's at a "sky price" of US$69.34 million.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">However, with the rise of "hype" a little bit, the NFT craze has also triggered a debate about the original meaning of digital assets and Internet copyright. Some people believe that NFT can ease the long-standing tension between creators and technology platforms; but some people feel that , NFT has triggered new forms of piracy and infringement.</span></p><h3 id="_1" style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 22px; line-height: 1.5; margin-bottom: 1.2rem; margin-top: 0.4rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">What are people buying?</span></h3><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">NFT is not a new concept. It has appeared in the crypto market since 2017. At that time, a company called Dapper Labs launched a unique digital cat cartoon decentralized application called "cryptocat" CryptoKitties, which quickly triggered The market is frantic, and some crypto cat NFTs can even be sold for tens of thousands of dollars. </span><span style="box-sizing: inherit; vertical-align: inherit;">Although the market has been silent for a while, when we enter 2021, NFT has made a comeback, and the product range has been further expanded, and it is no longer limited to those cute kittens that year.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">Nowadays, the scope of NFT can cover almost all digital file content, such as:</span></p><ul style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; list-style-image: initial; list-style-position: inside; margin: 1.6rem 0px 1.6rem 1.6rem; padding: 0px; text-align: justify;"><li style="box-sizing: inherit; margin-top: 0.4rem;"><p style="box-sizing: inherit; display: inline; hyphens: auto; margin: 0px 0px 1.6rem;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">American rock band Kings of Leon and cryptocurrency startup Yellowheart recently launched the "NFT Yourself" series to celebrate the release of its new album "When You See Yourself". </span><span style="box-sizing: inherit; vertical-align: inherit;">It is reported that Kings of Leon was the first band to release an album in the form of NFT. The NFT auction of the new album at Opensea, the NFT trading platform, finally sold 766.4 ETH, or about 1.4 million U.S. dollars. </span><span style="box-sizing: inherit; vertical-align: inherit;">Currently the most expensive NFT in the series is "Golden Ticket: Bandit #2 Wave", which sells for 89 ETH.</span></span></p></li><li style="box-sizing: inherit; margin-top: 0.4rem;"><p style="box-sizing: inherit; display: inline; hyphens: auto; margin: 0px 0px 1.6rem;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">Banksy, the most iconic street artist in the UK, destroyed a £70,000 artwork "Morons" (idiot) in a secret location in Brooklyn, New York. The destruction process was broadcast live to a global audience, and then he made this work. NFT because he believes that digital art forms will be the future of the industry. </span><span style="box-sizing: inherit; vertical-align: inherit;">The connotation of this £70,000 work is intended to mock collectors for buying expensive artists. </span><span style="box-sizing: inherit; vertical-align: inherit;">The new "Morons" will become an NFT on the SuperFarm market, and the auction will soon start. The winning bidder will receive a unique digital code to identify the work and a certificate of authenticity. Part of the funds from this auction transaction will be donated to charity mechanism.</span></span></p></li><li style="box-sizing: inherit; margin-top: 0.4rem;"><p style="box-sizing: inherit; display: inline; hyphens: auto; margin: 0px 0px 1.6rem;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">And Twitter founder Jack Dorsey (Jack Dorsey), his first tweet NFT bid for more than 2 million US dollars. </span><span style="box-sizing: inherit; vertical-align: inherit;">Tesla founder Elon Musk also announced that he would make a song about NFT into an NFT for sale. Crypto artist Beeple quickly responded that he was willing to pay a high price of $69 million.</span></span></p></li></ul><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><img alt="NFT generates income for artists, but the problem of infringement caused by it cannot be ignored" loading="lazy" src="https://web.archive.org/web/20210317074808im_/https://img.chainnews.com/material/images/65a31457a76bee3b98bfe6023180924d.jpg-article" style="border: 0px; box-sizing: inherit; display: block; height: auto; margin: 1rem auto; max-width: 100%;" /></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">Then, under the hot "appearance", the crypto community also questioned NFT: What are people buying? </span><span style="box-sizing: inherit; vertical-align: inherit;">After all, anyone can easily copy these NFT "crafts" (legal or illegal) as long as they can connect to the Internet and have a basic understanding of software knowledge. </span><span style="box-sizing: inherit; vertical-align: inherit;">If you can print Jack Dorsey’s tweet directly or embed it on your website, why bother to "own" the tweet?</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">NFT supporters may tell you that although the “art” they bought looks (or sounds) exactly the same as the copy on the Internet, they have a version with a unique ownership certificate (which can be regarded as a serial number) Or the original creator's signature), this certificate is "engraved" on the blockchain to create a tamper-proof transaction record and show the world who the owner of the work is. </span><span style="box-sizing: inherit; vertical-align: inherit;">For NFT believers, this means that they have at least the "uniqueness" of one piece of work, and NFT owners also claim that their digital art is "authentic." </span><span style="box-sizing: inherit; vertical-align: inherit;">In the past, an original painting signed by an artist might be worth millions of dollars, but now, in the digital world, this painting might be broken into "tens of thousands" and then pasted in college students' dormitories.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">However, these NFT owners may be surprised to find that what they "own" is actually very limited.</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">Law professors like to tell students one thing: property is like a bundle of sticks, each stick in the bundle represents the right to do something, for example, you have the right to sell property, harvest property, or destroy property, and so on. </span><span style="box-sizing: inherit; vertical-align: inherit;">Copyright is also a kind of property, and it is true in reality, and copyright contains more "sticks", such as the right to broadcast audio and video, and image sales, which is more than many people realize.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">In terms of sports competitions and music performances, lawyers are doing their best to ensure that their clients—sports, film, and song stars—will own most of their ownership. </span><span style="box-sizing: inherit; vertical-align: inherit;">For fans, buying NFT is just a license. This license allows fans to display or transfer related works almost without being affected by legal issues. However, there are exceptions. For example, the NFT issued by the NBA-known as "Highlights" "Moments", buyers cannot modify these "high-light moments" videos, nor can they display them in a way that the NBA league considers annoying or offensive.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">Certain restrictions imposed by NFT on content have exceeded the restrictions imposed by physical cards. </span><span style="box-sizing: inherit; vertical-align: inherit;">Also take the NBA’s NFT as an example. On the opposite physical star card, collectors can adjust the content of the card at will, such as drawing a beard on the player’s face, or attaching some interesting pictures, which NFT cannot do. . </span><span style="box-sizing: inherit; vertical-align: inherit;">Of course, physical star cards also have some restrictions. Major sports leagues will protect intellectual property rights. Therefore, you cannot print the pictures on the star card on a T-shirt for the first time. These rights are definitely broader than those attached to the NFT.</span></span></p><h3 id="nft" style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 22px; line-height: 1.5; margin-bottom: 1.2rem; margin-top: 0.4rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">NFT is a new form of property, but it also brings a new form of piracy</span></h3><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">Tonya Evans, an intellectual property scholar at Penn State University Dickinson, also recently studied blockchain and NFT, and wrote a paper analyzing the "CryptoKitties Phenomenon in 2018". She believes that NFT provides an important new way for creators , Enabling them to connect with fans and make money from them.</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">Tonya Evans found that many black artists are at the forefront of the NFT boom. These trendy artists will use channels such as the new social media audio application Clubhouse to promote and sell their works. Because NFT technology provides a way to go online The above method will not be "infinitely copied", so artists can easily prove that a certain digital work is unique. </span><span style="box-sizing: inherit; vertical-align: inherit;">She further explained:</span></span></p><blockquote style="background: rgb(250, 250, 250); border-bottom-color: rgb(230, 229, 229); border-left: 0.1rem solid rgb(230, 229, 229); border-right-color: rgb(230, 229, 229); border-top-color: rgb(230, 229, 229); box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; margin: 1.6rem 0px; padding: 1.2rem; text-align: justify;"><p style="box-sizing: inherit; hyphens: auto; margin: 0px;"><span style="box-sizing: inherit; vertical-align: inherit;">"You can code for the integrity of your work. High technology has begun to'threat' the music industry. Anyone can perfectly copy original music. Now NFT may be the best technology to solve this problem."</span></p></blockquote><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">Tonya Evans believes that NFT technology does provide creators with new opportunities. We have seen artists such as Grimes and Beeple sell their works at high prices through NFT, but at the same time, other "less well-known" artists can also use NFT to make money. They are using platforms like Nifty Gateway and OpenSea to sell limited edition sneakers and trendy shoe boxes. </span><span style="box-sizing: inherit; vertical-align: inherit;">In this sense, NFT tokens are an unprecedented "new currency"!</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">However, can NFT effectively prevent piracy? </span><span style="box-sizing: inherit; vertical-align: inherit;">The answer is not entirely true.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">Just like other profitable things on the Internet, the NFT boom has attracted some "bad guys" who want to profit from other people's work. </span><span style="box-sizing: inherit; vertical-align: inherit;">For example, there was an artist recently who released a number of digital paintings under the name "Weird Undead", but soon the artist discovered that someone had stolen her work and produced it for NFT sale.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><img alt="NFT generates income for artists, but the problem of infringement caused by it cannot be ignored" loading="lazy" src="https://web.archive.org/web/20210317074808im_/https://img.chainnews.com/material/images/284baa55b92f556f88c180aadda436a3.jpg-article" style="border: 0px; box-sizing: inherit; display: block; height: auto; margin: 1rem auto; max-width: 100%;" /></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">Last week, Weird Undead submitted a series of legal notices to OpenSea (currently the largest NFT trading market), and her fans also submitted legal notices to OpenSea, requiring the platform to be able to block relevant NFT transactions. In Weird Undead’s words, this is A "crazy and meaningless copyright infringement." </span><span style="box-sizing: inherit; vertical-align: inherit;">It is reported that the imitators of Weird Undead have been using the "Tokenized Tweets" ID to sell their works.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">Not only that, but the tweets of some of the big names in the crypto industry have also been used to make NFT auctions, including CoinShares' Meltem Demirors and Coin Center's Neeraj Agrawal:</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><img alt="NFT generates income for artists, but the problem of infringement caused by it cannot be ignored" loading="lazy" src="https://web.archive.org/web/20210317074808im_/https://img.chainnews.com/material/images/2554ea147ad746e9098f3b870cd78831.jpg-article" style="border: 0px; box-sizing: inherit; display: block; height: auto; margin: 1rem auto; max-width: 100%;" /></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">In fact, the issuance of unauthorized NFTs is just the tip of the iceberg surrounding the issue of NFT piracy. </span><span style="box-sizing: inherit; vertical-align: inherit;">There is a more serious potential problem, namely: the emergence of competitive blockchain services, each blockchain can guarantee that the NFT they provide is the only authoritative record. </span><span style="box-sizing: inherit; vertical-align: inherit;">This situation is similar to that in a small town where there are two competing service agencies to register land deeds, or two auction houses each claim the legal ownership of the artwork. </span><span style="box-sizing: inherit; vertical-align: inherit;">For the emerging NFT industry, this problem may be an unavoidable display problem. The market must have a final conclusion, namely: who can prove the uniqueness of a given token.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">So far, some large-scale NFT trading platforms in the market have begun to cooperate, and they basically agree to identify "a token" as unique, even if the token is passed from one forum to another The uniqueness of the forum will not be affected when it is transferred from one platform to another. </span><span style="box-sizing: inherit; vertical-align: inherit;">But this did not prevent Binance blockchain users from hosting "rogue tokens" on the network. They directly imitated the existing NFT works on Ethereum. For example, "Binance Punks" imitated "Crypto Punks" and "Bashmasks" imitated " Hashmasks", even the title of the work is very similar.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">Although trademark law and copyright law provide some remedies, because the nature of blockchain is borderless and decentralized, it is difficult for artists to find pirates or infringers and sue them. This can explain why the Binance network has recently Some of the behaviors are disturbing, and the crypto community can only express their dissatisfaction through some non-legal measures, such as disclosing such unethical behavior on social media such as Twitter.</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">For those creators who make a living from artistic work, the issue of NFT copyright is indeed a headache. </span><span style="box-sizing: inherit; vertical-align: inherit;">However, although NFT may cause a lot of trouble, many people are still optimistic that compared to these problems, the compensation that artists get under this new form of income is still very attractive, and this may reshape us Views on copyright and the Internet.</span></span></p><h3 id="nft_1" style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 22px; line-height: 1.5; margin-bottom: 1.2rem; margin-top: 0.4rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">How to seek a breakthrough in NFT copyright issues?</span></h3><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">Since the mid-1990s, consumers have begun to use the Internet on a large scale, but even during the Internet dividend period, it has been mixed for artists, writers, and other content creators. </span><span style="box-sizing: inherit; vertical-align: inherit;">On the one hand, the Internet provides a huge new platform that can quickly attract fans and find new audiences; on the other hand, there are also a large number of pirates on the Internet, copying and selling artists' works. </span><span style="box-sizing: inherit; vertical-align: inherit;">At the same time, large-scale technology platforms such as Amazon and Spotify have enjoyed virtual monopoly privileges when selling digital works, resulting in very little share for artists in the end.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">In the past 20 years, there have been many debates surrounding the issue of Internet copyright policy, especially in the entertainment industry. </span><span style="box-sizing: inherit; vertical-align: inherit;">Some people accuse technology enthusiasts of supporting piracy and robbery of artists, and some people (mainly opponents) believe that the Internet industry should lobby Congress to amend the copyright law, because the copyright law is too strict and easy to be abused-Cardoso Law School Block Chain expert Aaron Wright believes that the rise of NFT will help end this debate.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">Aaron Wright explained: </span><span style="box-sizing: inherit; font-weight: bolder;">"I think the Internet has provided mass distribution services for the media for a long time, but there has not been a monetization solution that works well. NFT can help make up for this shortcoming."</span><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;"> Aaron Wright specifically pointed out, NFT provides artists with a way to sell scarce and unique digital versions of their works. This scarcity means that they can not only enjoy new sources of income, but also get additional income when reselling NFTs. With such a Nifty Gateway The emergence of NFT trading platforms has provided convenience for more people to access NFT. </span><span style="box-sizing: inherit; vertical-align: inherit;">Aaron Wright further stated that, from a broader perspective, after artists have the ability to sell NFTs independently, they may eliminate some long-standing resentment over copyright issues. In the past, the online distribution business model was to sell as much as possible to loyal fans More copies, so that you can get more profits in exchange for fewer products, but now, NFT can directly benefit creators.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">Of course, Aaron Wright is not the only one who has seen the "creator economic paradigm" have changed. The founding editor of Wired, Kevin Kelly, wrote a classic article "1000 loyal fans" in 2008. "(1000 True Fans), which predicts that the Internet will change the economics of creative activities, this article has gone viral among venture capitalists and technology observers in recent weeks. </span><span style="box-sizing: inherit; vertical-align: inherit;">Kevin Kelly’s ultimate vision is to make the Internet the ultimate matchmaker and to promote mutual benefit for everyone in the 21st century. </span><span style="box-sizing: inherit; vertical-align: inherit;">Creators-no matter how large the niche market is-can more easily find their true fans, who are willing to show their enthusiasm through real money. </span><span style="box-sizing: inherit; vertical-align: inherit;">If you are a craftsman, photographer, musician, designer, writer, animator, app maker, entrepreneur or inventor, you don’t need a "million-level customer", you only need 1,000 loyal fans . </span><span style="box-sizing: inherit; vertical-align: inherit;">Although "1000 loyal fans" was ten years ago, with the advent of NFT, Kevin Kelly's prediction seems to be becoming a reality.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">Technology blogger Will Oremus believes that more and more Internet users are tired of large platforms like Facebook, which use algorithms to push content to users and output "emotions", so many users are gradually moving to smaller forums, such as SubStack or Clubhouse, these platforms can establish closer community connections. </span><span style="box-sizing: inherit; vertical-align: inherit;">If Will Oremus is correct, these "small communities" will bring new opportunities for creators to make money more easily on the Internet (including NFT).</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">Of course, the above analysis all expressed optimism about the prospects of NFT, but in fact, some people expressed doubts about NFT, including Litecoin founder Charlie Lee, who poured cold water on NFT on Twitter:</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><img alt="NFT generates income for artists, but the problem of infringement caused by it cannot be ignored" loading="lazy" src="https://web.archive.org/web/20210317074808im_/https://img.chainnews.com/material/images/366e7007d43f308a42ae6bd3987bfd46.jpg-article" style="border: 0px; box-sizing: inherit; display: block; height: auto; margin: 1rem auto; max-width: 100%;" /></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">Li Qiwei believes that the true value of the artwork has not been transferred to the NFT. If everyone can perfectly copy the "Mona Lisa" on their own walls, it means that most people don't really care whether they need to have a so-called "reality". Sex certificate". </span><span style="box-sizing: inherit; vertical-align: inherit;">For example, the biggest difference between the traditional star card and NBA TopShot is that even if the star card manufacturer and the NBA league go bankrupt, the physical card can still retain its value. </span><span style="box-sizing: inherit; vertical-align: inherit;">For example, if the star card company Fleer goes bankrupt, the value of their Fleer Michael Jordan rookie card issued in 1986 will not be affected at all, and it can still sell for more than $500,000 today.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><img alt="NFT generates income for artists, but the problem of infringement caused by it cannot be ignored" loading="lazy" src="https://web.archive.org/web/20210317074808im_/https://img.chainnews.com/material/images/8f1722236357155f5864d323c6b63fd4.jpg-article" style="border: 0px; box-sizing: inherit; display: block; height: auto; margin: 1rem auto; max-width: 100%;" /></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">Li Qiwei showed the above painting on Twitter. He thinks this painting is very vivid because it reflects the real situation. Everyone in the world can download a song for 1 dollar, and then enjoy the beautiful music, but a song What is the value of the NFT?</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">Nearly a quarter of 2021 has passed, and NFT seems to surprise us every day. </span><span style="box-sizing: inherit; vertical-align: inherit;">In addition to Christie’s, the well-known auction platform Sotheby’s has also begun to pay attention to the development of the NFT field. Charles Stewart, the CEO of the auction house, announced on March 17 that it will auction the NFT works of the well-known artist PAK next month. This at least shows that it is still Many people recognize the value of NFT and are willing to pay a lot of money for it.</span></span></p><p class="post-originlink" style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">Source link: </span><a href="https://web.archive.org/web/20210317074808/https://www.odaily.com/post/5165703" rel="noopener" style="background-color: transparent; border-bottom: 0.05rem solid rgb(239, 239, 239); box-sizing: inherit; color: #333333; padding-bottom: 0.1rem; text-decoration-line: none;" target="_blank"><span style="box-sizing: inherit; vertical-align: inherit;">www.odaily.com</span></a></p>Nischal Lal Shresthahttp://www.blogger.com/profile/05625422095651611201noreply@blogger.com0tag:blogger.com,1999:blog-8831307421570903483.post-53358062808568118522021-11-26T20:23:00.004-08:002021-11-26T20:23:54.083-08:00Art practitioners personally experienced: Will the NFT boom change the art world?<p><span style="box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; text-align: justify; vertical-align: inherit;"></span></p><div class="separator" style="clear: both; text-align: center;"><span style="box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; text-align: justify; vertical-align: inherit;"><a href="https://blogger.googleusercontent.com/img/a/AVvXsEhCR1r9BzPnRTe3eTY2lNeh8HJocGAuGC4fgmE1FRG7c2rR6ehNgWjzAiiW1ZZJj6ZrKJ4UKuvJgF8qTr_-_E1cLbTZeEFAwIL8oiroMYR10nVg6h2Yg1lrdTGYyvNkUL-LK2r7kQF4dSmF92ttPae8vzRGTaHiFA5EsXQVbLLzl7JQEblgcywuvHU2=s1000" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="1000" data-original-width="1000" height="640" src="https://blogger.googleusercontent.com/img/a/AVvXsEhCR1r9BzPnRTe3eTY2lNeh8HJocGAuGC4fgmE1FRG7c2rR6ehNgWjzAiiW1ZZJj6ZrKJ4UKuvJgF8qTr_-_E1cLbTZeEFAwIL8oiroMYR10nVg6h2Yg1lrdTGYyvNkUL-LK2r7kQF4dSmF92ttPae8vzRGTaHiFA5EsXQVbLLzl7JQEblgcywuvHU2=w640-h640" width="640" /></a></span></div><span style="box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; text-align: justify; vertical-align: inherit;"><br /><span style="box-sizing: inherit; vertical-align: inherit;"><br /></span></span><p></p><p><span style="box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; text-align: justify; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;"><br /></span></span></p><p><span style="box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; text-align: justify; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">It is said that the art market follows capital, and as a practitioner of the art market, I cannot avoid being vulgar. </span><span style="box-sizing: inherit; vertical-align: inherit;">When I saw that the work of digital artist beeple </span><span style="box-sizing: inherit; vertical-align: inherit;">was auctioned for 3.5 million US dollars </span><span style="box-sizing: inherit; vertical-align: inherit;">on the NFT encrypted art platform </span></span><span class="project-highlight" id="project-nifty-gateway" style="box-sizing: inherit; color: #333333; cursor: pointer; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; font-weight: 700; margin: 0px 0.1em; position: relative; text-align: justify;" tabindex="0"><span style="border-bottom: 0.05rem solid rgb(239, 239, 239); box-sizing: inherit; padding-bottom: 0.1rem;"><span style="box-sizing: inherit; vertical-align: inherit;">Nifty Gateway</span></span></span><span style="box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; text-align: justify; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;"> , and it was sold at a high price at Christie’s on March 12, I had to start to take this completely unfamiliar concept seriously, NFT . </span><span style="box-sizing: inherit; vertical-align: inherit;">Because I also run this primary market gallery, and also exhibit, represent and sell digital art. From my personal experience, I know how difficult it is to sell an invisible and intangible work. </span><span style="box-sizing: inherit; vertical-align: inherit;">Does the emergence of NFT mean that all this is changing? </span><span style="box-sizing: inherit; vertical-align: inherit;">The nature of NFT encrypted art transactions that directly connect buyers and artists also makes me wonder whether the gallery industry will also be threatened.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><img alt="Art practitioners personally experienced: Will the NFT boom change the art world?" loading="lazy" src="https://web.archive.org/web/20210329063812im_/https://img.chainnews.com/material/images/24bacabc276d5d75b9bb7483c7f29628_Lj4lJvs.jpg-article" style="border: 0px; box-sizing: inherit; display: block; height: auto; margin: 1rem auto; max-width: 100%;" /><em style="box-sizing: inherit; color: #737373; display: inline-block; font-size: 0.7rem; text-align: center; width: 688px;"><span style="box-sizing: inherit; vertical-align: inherit;">Sales data of the encrypted art market from 2018 to the first half of 2021, image source: blockonomi</span></em></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">Before starting all the discussion, I still want to explain NFT clearly in my own language: NFT (non Fungible Token) is a non-homogeneous token, it is an encryption structured on the Ethereum blockchain Proof of digital equity. </span><span style="box-sizing: inherit; vertical-align: inherit;">To explain in the vernacular, it is a property and fidelity certificate placed in the cloud.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">NFT proof of equity is different from Bitcoin and Ethereum. They are unique. The same two NFTs will not appear in the world. They are indivisible. An NFT cannot be divided into several smaller pieces like a currency. The unit; it is safe and unchangeable, once all NFTs are formed, they will never be changed (including deletion, yes it will always exist in the online world).</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">Because of these attributes of NFT, it will naturally be linked to unique assets for use, such as identification, intellectual property, real estate and artwork. </span><span style="box-sizing: inherit; vertical-align: inherit;">From the perspective of use, NFT has absolutely positive help. It guarantees the authenticity of unique assets and eliminates the possibility of fraud. </span><span style="box-sizing: inherit; vertical-align: inherit;">These seem to be able to solve the problems that plague the art market. </span><span style="box-sizing: inherit; vertical-align: inherit;">There is another usage scenario for the art market. Using smart contracts in NFT can automatically transfer the profits of the secondary transaction into the artist's wallet according to a certain percentage. </span><span style="box-sizing: inherit; vertical-align: inherit;">(There has always been Artists Royalties in Europe, but it is difficult to strictly enforce due to the difficulty and complexity of the operation). </span><span style="box-sizing: inherit; vertical-align: inherit;">It sounds like NFT can indeed solve many problems in the art world, but will these problems really be solved by NFT, or will they create more problems?</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><img alt="Art practitioners personally experienced: Will the NFT boom change the art world?" loading="lazy" src="https://web.archive.org/web/20210329063812im_/https://img.chainnews.com/material/images/9d681b3080435900bc1827c2b89d788b_1HfTVuV.png-article" style="border: 0px; box-sizing: inherit; display: block; height: auto; margin: 1rem auto; max-width: 100%;" /><em style="box-sizing: inherit; color: #737373; display: inline-block; font-size: 0.7rem; text-align: center; width: 688px;"><span style="box-sizing: inherit; vertical-align: inherit;">Alice Bucknell, EZ Kryptobuild, digitally reconstructed the late Zaha Hadid as the AI ghost and unofficial mascot of Kryptobuild. Image source: Alice Bucknell</span></em></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">Thanks to clubhouse, it also allows us, the frog at the bottom of the well in the art circle, to really listen to the discussion about NFT encryption art in the crypto circle or the currency circle. This also allows me to discover the traditional contemporary art circle (yes, contemporary art is in In this context, the word "tradition" needs to be added) and the huge gap between the encryption circle.</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">When I was preparing art and reading podcasts, I had talked with NFT researchers in different industries. The technology circle believed that the traditional art circle had huge misunderstandings and prejudices about NFT encryption art. </span><span style="box-sizing: inherit; vertical-align: inherit;">Likewise, this misunderstanding goes both ways. </span><span style="box-sizing: inherit; vertical-align: inherit;">Next, I want to summarize some of my observations in the crypto circle and my thoughts.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><img alt="640 (1).png" loading="lazy" src="https://web.archive.org/web/20210329063812im_/https://img.chainnews.com/material/images/0e00bbe2b13757c8b33ebd78aa6faa57_Qj7G6Bj.png-article" style="border: 0px; box-sizing: inherit; display: block; height: auto; margin: 1rem auto; max-width: 100%;" /><em style="box-sizing: inherit; color: #737373; display: inline-block; font-size: 0.7rem; text-align: center; width: 688px;"><span style="box-sizing: inherit; vertical-align: inherit;">The subject of this interview is the co-founder of Nifty Gateway, a well-known trading platform in the NFT crypto art world. He sees the depth of misunderstanding of the art market in the crypto circle. Image source: Crypto YC</span></em></p><h3 id="nft" style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 22px; line-height: 1.5; margin-bottom: 1.2rem; margin-top: 0.4rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">The emergence of the NFT encrypted art platform can remove middlemen, allowing artists and collectors to directly connect, and both parties can benefit more</span></h3><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">In many clubhouse and currency circle news, art practitioners like me are called the conservative, guarding an old world order that is about to be broken by new forces. </span><span style="box-sizing: inherit; vertical-align: inherit;">The art world is a small society full of barriers and high walls, and the participants in the art market include layers of classes. </span><span style="box-sizing: inherit; vertical-align: inherit;">Everyone in the industry knows that it is not possible to buy the works you want if you have money; I myself have been refused to buy works several times, which is frustrating. </span><span style="box-sizing: inherit; vertical-align: inherit;">The sale of NFT encrypted art and the emergence of the platform made this wall collapsed overnight. There is no exclusiveness in encrypted art. Anyone can register an account on the platform. As long as the e-wallet balance is sufficient, you can buy anything you want. The desired encrypted artwork.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">AMEX black card and identity background are not important in the world of encrypted art. </span><span style="box-sizing: inherit; vertical-align: inherit;">The buyer's identity is no longer you, a person with social attributes, but a virtual wallet name and a string of numbers. </span><span style="box-sizing: inherit; vertical-align: inherit;">So when you want to change hands of a work, you no longer need to face the "expectations" of the gallerist or artist. You only need to move your fingers with two fingers to complete the entire transaction of the work in a few seconds, no need to think about it. Any favors and face issues. </span><span style="box-sizing: inherit; vertical-align: inherit;">Such a world without "middlemen" is perfect, but it also attracts a large number of flippers to enter the market and occupy the transaction. </span><span style="box-sizing: inherit; vertical-align: inherit;">In the current world of encrypted art, it often happens that works are changed hands within a few days. As long as there is a transaction demand, works can be traded several times within a few minutes. </span><span style="box-sizing: inherit; vertical-align: inherit;">Everyone who handles the drums hopes that the drums will stop and the flowers will be in the hands of others.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><img alt="640 (2).png" loading="lazy" src="https://web.archive.org/web/20210329063812im_/https://img.chainnews.com/material/images/694c6bdeb6125bfcaaace5d7ae4bfcb2_h5bvDPE.png-article" style="border: 0px; box-sizing: inherit; display: block; height: auto; margin: 1rem auto; max-width: 100%;" /></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><img alt="Art practitioners personally experienced: Will the NFT boom change the art world?" loading="lazy" src="https://web.archive.org/web/20210329063812im_/https://img.chainnews.com/material/images/c39cc19fca4f5f1da79997aeedbe5dc5_t4lE3OF.gif" style="border: 0px; box-sizing: inherit; display: block; height: auto; margin: 1rem auto; max-width: 100%;" /><em style="box-sizing: inherit; color: #737373; display: inline-block; font-size: 0.7rem; text-align: center; width: 688px;"><span style="box-sizing: inherit; vertical-align: inherit;">Crypto Rain video work, Marius Sperlich, auction closes at 7 am on 3.16, Beijing time, photo source: artist twitter @mariussperlich</span></em></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">Continue to answer the question of removing middlemen. In the current encrypted art context, not only the middlemen in the transaction are removed, but all the intermediate links in the art ecology are ignored. We all know that the value system of the artist's work needs to be replaced. The long process of space, commercial galleries, art galleries and biennial exhibitions and important art museum collections. </span><span style="box-sizing: inherit; vertical-align: inherit;">The rapid rise of the crypto art market has bypassed the ecological infrastructure and directly entered the transaction between artists and collectors. "Transaction = value". This is the answer of the artist aaajiao when asked about his views on crypto art. . </span><span style="box-sizing: inherit; vertical-align: inherit;">Whether the transaction is possible and the price of the transaction have also become the only criteria for value judgment. </span><span style="box-sizing: inherit; vertical-align: inherit;">So how long can the pure trading ecology established by the vacuum in the art ecology last? </span><span style="box-sizing: inherit; vertical-align: inherit;">Beeple's auction records did not show me a booming market, but a familiar bubble bursting.</span></span></p><h3 id="_1" style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 22px; line-height: 1.5; margin-bottom: 1.2rem; margin-top: 0.4rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">Encrypted art is not exclusive, everyone can create a new world of art and consumer art</span></h3><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">The inclusive community repeatedly mentioned in the encryption circle, is this really the case? </span><span style="box-sizing: inherit; vertical-align: inherit;">On Open Sea, the largest trading platform for NFT items, you can see more than 10 million items (not only art, but also other collectibles, virtual real estate, domain names, and game skins, etc.). If you find something you like among thousands of choices, then the importance of the platform will be reflected. </span><span style="box-sizing: inherit; vertical-align: inherit;">Among the more active and large-scale platforms, each platform has its own focus. Like Rarible, anyone is welcome to "on the chain" to participate, but works are quickly buried in the waterfall of the library. </span><span style="box-sizing: inherit; vertical-align: inherit;">There are also invitation-based and application-based art platforms like Nifty Gateway. The number of fans on social media and the existing influence of artists are key conditions for review. </span><span style="box-sizing: inherit; vertical-align: inherit;">In this way, does the new world look more and more like the old world?</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><img alt="640 (3).png" loading="lazy" src="https://web.archive.org/web/20210329063812im_/https://img.chainnews.com/material/images/8d5e831997bb5d97acac934774a5361d_wd9vvR7.png-article" style="border: 0px; box-sizing: inherit; display: block; height: auto; margin: 1rem auto; max-width: 100%;" /><em style="box-sizing: inherit; color: #737373; display: inline-block; font-size: 0.7rem; text-align: center; width: 688px;"><span style="box-sizing: inherit; vertical-align: inherit;">NFT trading platform Open Sea website: Open Sea</span></em></p><h3 id="nft_1" style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 22px; line-height: 1.5; margin-bottom: 1.2rem; margin-top: 0.4rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">What NFT encryption art wants to create is to subvert contemporary art, a brand-new aesthetic standard and value system</span></h3><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">We now see artists and their works active in the world of NFT encrypted art, which cannot even be called artists and works of art in the traditional contemporary art world. </span><span style="box-sizing: inherit; vertical-align: inherit;">Most of their backgrounds are designers, cartographers, CG animators, etc. (including Beeple, who may be called a commercial artist in the field of traditional art). </span><span style="box-sizing: inherit; vertical-align: inherit;">The works flooded with encrypted art platforms are almost the same as free image sites such as Giphy and DeviantArt, so why should we spend six figures to buy these gif images that can be downloaded for free?</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><img alt="Art practitioners personally experienced: Will the NFT boom change the art world?" loading="lazy" src="https://web.archive.org/web/20210329063812im_/https://img.chainnews.com/material/images/fadb5cc037bc5f54b518046e927e18a3_PY5mfQ2.webp" style="border: 0px; box-sizing: inherit; display: block; height: auto; margin: 1rem auto; max-width: 100%;" /><em style="box-sizing: inherit; color: #737373; display: inline-block; font-size: 0.7rem; text-align: center; width: 688px;"><span style="box-sizing: inherit; vertical-align: inherit;">A work imitating Banksy sold for 900,000 US dollars on the crypto art trading platform, image source: Rarible</span></em></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">The answer I got at clubhouse is that this new aesthetic taste may not be understood by us in the old world, but it represents the standard of the new world. </span><span style="box-sizing: inherit; vertical-align: inherit;">I have a sense of fearlessness of the ignorant. Because of the lack of understanding of art and art history, many trading platforms are filled with a large number of works that can be downloaded and sold directly from Giphy without copyright, let alone a bunch of infringing masters. GIF images of works and celebrity portraits... Think about the previous news that a work imitating Banksy sold for 900,000 U.S. dollars. Who should I talk to to make sense?</span></span></p><h3 id="nft_2" style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 22px; line-height: 1.5; margin-bottom: 1.2rem; margin-top: 0.4rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">The authenticity and traceability features of NFT make all transactions open and transparent, which can solve the fundamental problem of black-box operations in the art market and false data.</span></h3><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">NFT transaction records and prices are all available, which seems to solve the problem of black box operation or opaque prices in the art market. </span><span style="box-sizing: inherit; vertical-align: inherit;">But is the transparency we see real? </span><span style="box-sizing: inherit; vertical-align: inherit;">Encrypted art transactions show the name of the wallet instead of the real name of the owner behind it. </span><span style="box-sizing: inherit; vertical-align: inherit;">One person can own countless wallets, making right- and left-hand transactions a breeze. </span><span style="box-sizing: inherit; vertical-align: inherit;">Beeple's landmark auction results on Nifty Gateway in December last year were finally reported by the media. Among the 12 bidders, 11 were from 11 different-named wallets from the same buyer (Id: metakovan).</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><img alt="640 (1).webp" loading="lazy" src="https://web.archive.org/web/20210329063812im_/https://img.chainnews.com/material/images/96a3c178554d502d972b2716630ac97d.webp" style="border: 0px; box-sizing: inherit; display: block; height: auto; margin: 1rem auto; max-width: 100%;" /><em style="box-sizing: inherit; color: #737373; display: inline-block; font-size: 0.7rem; text-align: center; width: 688px;"><span style="box-sizing: inherit; vertical-align: inherit;">A photo of metakovan used as a profile picture on Twitter</span></em></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">The last lucky bidder was nervous and raised $400,000 more than expected, and finally bought a work. </span><span style="box-sizing: inherit; vertical-align: inherit;">So can we assume that if there is no oolong event for the last one, all the works will be bought by the same buyer, and we are looking at the information of twelve bidders. </span><span style="box-sizing: inherit; vertical-align: inherit;">And the buyer ID of the nearly 70 million US dollars of beeple works auctioned by Christie's on March 12 is metakovan. That's right, it was the one who bought 20 of the 21 beeple works at Nifty Gateway in December. </span><span style="box-sizing: inherit; vertical-align: inherit;">Here, have you smelled the familiar taste in the traditional art market?</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><img alt="640 (4).png" loading="lazy" src="https://web.archive.org/web/20210329063812im_/https://img.chainnews.com/material/images/74b255d723c7512a84c7222980c3223d_PcEnUA2.png-article" style="border: 0px; box-sizing: inherit; display: block; height: auto; margin: 1rem auto; max-width: 100%;" /></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><img alt="640 (2).webp" loading="lazy" src="https://web.archive.org/web/20210329063812im_/https://img.chainnews.com/material/images/333019d5c9e05f6ab277df95ccbbde4f.webp" style="border: 0px; box-sizing: inherit; display: block; height: auto; margin: 1rem auto; max-width: 100%;" /><em style="box-sizing: inherit; color: #737373; display: inline-block; font-size: 0.7rem; text-align: center; width: 688px;"><span style="box-sizing: inherit; vertical-align: inherit;">The official website of Christie’s auction house announced the on-chain information about the auction of Beeple, including the virtual wallet address of beeple. Anyone can check all the transfers of the wallet. The screenshot is at 12:00 on March 16, 2021. Query record</span></em></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">What’s even more powerful is that the NFT fund metapurse, which was founded by the person with the ID metakovan, issued a token called B20 (full name: The beeple 20) in January this year, which was a 20-year auction of metakovan in December. A cryptocurrency for the distribution of ownership of pieces of beeple works. </span><span style="box-sizing: inherit; vertical-align: inherit;">After the Christie's auction ended, the price of B20 tokens skyrocketed. </span><span style="box-sizing: inherit; vertical-align: inherit;">This also means that it is very likely that Metakovan did not spend much money, and instead earned a lot of platinum from this news event. Presumably this trick, the art world really can't learn it.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><img alt="640 (5).png" loading="lazy" src="https://web.archive.org/web/20210329063812im_/https://img.chainnews.com/material/images/12b6c9408acd51288b2cd3314d61432e_5gboGda.png-article" style="border: 0px; box-sizing: inherit; display: block; height: auto; margin: 1rem auto; max-width: 100%;" /></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><img alt="640 (6).png" loading="lazy" src="https://web.archive.org/web/20210329063812im_/https://img.chainnews.com/material/images/86f6a4ff85ad5266b08e0d11c3e38245_3AhdzVf.png-article" style="border: 0px; box-sizing: inherit; display: block; height: auto; margin: 1rem auto; max-width: 100%;" /><em style="box-sizing: inherit; color: #737373; display: inline-block; font-size: 0.7rem; text-align: center; width: 688px;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">B20 tokens will be released on January 26, 2021, with a total issuance of 10 million, of which Metakovan holds 59%. The initial token price is 0.36 USD/coin, and its price is the same as the 20 auctions in December 2020 The price of Beeple paintings is anchored. </span><span style="box-sizing: inherit; vertical-align: inherit;">As of 5 pm on March 16, the value of a single currency is US$14.78. Picture source: metapurser</span></span></em></p><h3 id="_2" style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 22px; line-height: 1.5; margin-bottom: 1.2rem; margin-top: 0.4rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">Slow down and build a basic ecology</span></h3><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">At this point, you must think that I am the gatekeeper of the old world and resolutely resist the new world created by NFT. </span><span style="box-sizing: inherit; vertical-align: inherit;">But what I have to clarify is that what I am opposed to is the use of NFT and blockchain technology to create the so-called “new world of art” that is full of contradictory structures and words.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><img alt="640 (7).png" loading="lazy" src="https://web.archive.org/web/20210329063812im_/https://img.chainnews.com/material/images/3e12c440207f5596afe5700a597d9398_9oEaIb3.png-article" style="border: 0px; box-sizing: inherit; display: block; height: auto; margin: 1rem auto; max-width: 100%;" /><em style="box-sizing: inherit; color: #737373; display: inline-block; font-size: 0.7rem; text-align: center; width: 688px;"><span style="box-sizing: inherit; vertical-align: inherit;">Lars King, "Microchip Capsule-I AM NFT", 2021, image source: Lars King</span></em></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">In the past two decades, the art market has always wanted to win the upstarts of technology to enter the art collection field. From Silicon Valley in the United States to Shenzhen to Beijing 798, the art market has always been unable to open the door of the technology circle. </span><span style="box-sizing: inherit; vertical-align: inherit;">Take Beijing 798 as an example. Even if there is a large Internet company nearby and 798 is only separated by a wall, it is very difficult for people from Internet companies to enter galleries and art galleries. </span><span style="box-sizing: inherit; vertical-align: inherit;">The birth of encryption art undoubtedly made it possible to buy digital art. </span><span style="box-sizing: inherit; vertical-align: inherit;">Familiar operation methods and convenient trading make art trading less remote. </span><span style="box-sizing: inherit; vertical-align: inherit;">I believe that although there are many speculative participants now, the craze has receded. When truly good digital artists and art institutions start to use the innovative technology brought by NFT, more people will be willing to collect digital art.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><img alt="640 (1).gif" loading="lazy" src="https://web.archive.org/web/20210329063812im_/https://img.chainnews.com/material/images/fb85a753bf2f500599b5949e461edb81.gif" style="border: 0px; box-sizing: inherit; display: block; height: auto; margin: 1rem auto; max-width: 100%;" /><em style="box-sizing: inherit; color: #737373; display: inline-block; font-size: 0.7rem; text-align: center; width: 688px;"><span style="box-sizing: inherit; vertical-align: inherit;">Sarah Zucker, "What Now" (What Now), 2020, animated Gif Source: Sarah Zucker</span></em></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; outline: 0px; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">In fact, in China's art industry, there are already curators and scholars who have seriously studied blockchain technology and are working hard to promote the infrastructure construction of the new ecology. </span><span style="box-sizing: inherit; vertical-align: inherit;">Shanghai’s New Timeline Media Art Center (CAC) has been committed to media art research, creation and academic exchanges. Recently, they are also doing artificial intelligence art practice. Last year, the curators Bi Xin and Cao Jiamin of the museum also planned The exhibition project "Encrypted Manifold" based on blockchain technology was launched. </span><span style="box-sizing: inherit; vertical-align: inherit;">The Times Art Museum in Guangzhou also established a media laboratory in 2019, specializing in the practice and research of combining art and new technology, and blockchain is also one of their research directions. </span><span style="box-sizing: inherit; vertical-align: inherit;">These studies not only start from the application value of the blockchain, but also participate in the perspective of artistic creation from the bottom of the logic. Only when the basic art ecology is built well, the convenience of NFT transactions is worth playing a role.</span></span></p>Nischal Lal Shresthahttp://www.blogger.com/profile/05625422095651611201noreply@blogger.com0tag:blogger.com,1999:blog-8831307421570903483.post-58986738576251494922021-11-26T20:21:00.002-08:002021-11-26T20:21:30.247-08:00What are the application scenarios of fanatical NFT? How to achieve it with technology?<p></p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/a/AVvXsEgiWZwySo-kjVozfetV3O4p7A2KDlLfYXoG8rTJ_OLYY1lXLHs3iKI76C_QhWIWFWK2Mc0jGsk_V-7UPQqB9YxUo0W3ZYDGGqinkqXeyo3E1ztY6aOyNRi_jszt-HiKfhicfQFnbuFGIf9FUP5I-ZAEGfYxccCdn1Nv02Si_-9TJpySdbmpM68g_gJt=s600" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="600" data-original-width="600" height="640" src="https://blogger.googleusercontent.com/img/a/AVvXsEgiWZwySo-kjVozfetV3O4p7A2KDlLfYXoG8rTJ_OLYY1lXLHs3iKI76C_QhWIWFWK2Mc0jGsk_V-7UPQqB9YxUo0W3ZYDGGqinkqXeyo3E1ztY6aOyNRi_jszt-HiKfhicfQFnbuFGIf9FUP5I-ZAEGfYxccCdn1Nv02Si_-9TJpySdbmpM68g_gJt=w640-h640" width="640" /></a></div><br /> <p></p><p><span style="box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; text-align: justify; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">In the past few weeks, you may have imagined the reasons behind the high value of these digital images. </span><span style="box-sizing: inherit; vertical-align: inherit;">NFT is a unique entity and cannot be replaced by other things. </span><span style="box-sizing: inherit; vertical-align: inherit;">These tokens are a unit of data on the blockchain, and each NFT represents a unique digital item. </span></span><span style="box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; font-weight: bolder; text-align: justify;">It has gained a place among artists, game developers, and other professionals who deal with the author's work</span><span style="box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; text-align: justify; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;"> . </span><span style="box-sizing: inherit; vertical-align: inherit;">This concept is also useful for other problems. </span><span style="box-sizing: inherit; vertical-align: inherit;">We introduce you to some of the possibilities of this technology and how to apply your own NFT.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><img alt="What are the application scenarios of fanatical NFT? How to achieve it with technology?" loading="lazy" src="https://web.archive.org/web/20210406000522im_/https://img.chainnews.com/material/images/09ed34358939373d19565b321de64248.jpg-article" style="border: 0px; box-sizing: inherit; display: block; height: auto; margin: 1rem auto; max-width: 100%;" /></p><h3 id="_1" style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 22px; line-height: 1.5; margin-bottom: 1.2rem; margin-top: 0.4rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">Stimulus</span></h3><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">After reading the news that Grimes received millions of dollars or Nyan Cat was sold, you may have imagined the reasons behind the value of these digital images. </span><span style="box-sizing: inherit; vertical-align: inherit;">We have seen several news articles explaining what NFT is. </span><span style="box-sizing: inherit; vertical-align: inherit;">What few people have discussed is that this technology is more than just swapping digital images for large amounts of </span></span><span class="project-highlight" id="project-ethereum" style="box-sizing: inherit; cursor: pointer; font-weight: 700; margin: 0px 0.1em; position: relative;" tabindex="0"><span style="border-bottom: 0.05rem solid rgb(239, 239, 239); box-sizing: inherit; padding-bottom: 0.1rem;"><span style="box-sizing: inherit; vertical-align: inherit;">Ethereum</span></span></span><span style="box-sizing: inherit; vertical-align: inherit;"> .</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; font-weight: bolder;">NFT can represent digital files, such as art, audio, video, props in video games, and other forms of creative works</span><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;"> . </span><span style="box-sizing: inherit; vertical-align: inherit;">They are a unit of data on the blockchain, and each NFT represents a unique digital item. </span><span style="box-sizing: inherit; vertical-align: inherit;">This concept is useful for several practical problems.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; font-weight: bolder;">The main advantage of this technology is to ensure authenticity, and this does not mean additional costs or the need for a regulatory agency</span><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;"> . </span><span style="box-sizing: inherit; vertical-align: inherit;">NFTs can help solve existing intellectual property issues. </span><span style="box-sizing: inherit; vertical-align: inherit;">Not only that, they can also generate income for parts that are difficult to control ownership today. </span><span style="box-sizing: inherit; vertical-align: inherit;">In this article, we will introduce you to the possibilities of this technique and how to apply your own NFT.</span></span></p><h3 id="nfts" style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 22px; line-height: 1.5; margin-bottom: 1.2rem; margin-top: 0.4rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">NFTs</span></h3><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">In September 2020, artist Matt Kane sold a piece of art for $100,422. </span><span style="box-sizing: inherit; vertical-align: inherit;">This was almost impossible to make news, but because of the right time and place, this event attracted attention because it became the first encrypted art creation that crossed the $100,000 barrier. </span><span style="box-sizing: inherit; vertical-align: inherit;">Each NFT is a unique token on the blockchain. </span></span><span style="box-sizing: inherit; font-weight: bolder;">Most NFTs are implemented based on Ethereum, but this is not required</span><span style="box-sizing: inherit; vertical-align: inherit;"> .</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">Ethereum is a decentralized platform that can execute smart contracts and decentralized applications using blockchain technology. </span><span style="box-sizing: inherit; vertical-align: inherit;">They are in full accordance with application programming work, without any review, the possibility of fraud or interference of a third party, because </span></span><span style="box-sizing: inherit; font-weight: bolder;">the contract can not be changed</span><span style="box-sizing: inherit; vertical-align: inherit;"> .</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">Generally, these NTFs use the same token structure. </span><span style="box-sizing: inherit; vertical-align: inherit;">The ERC-721 standard is a token created for the Ethereum network under its smart contract standard. </span><span style="box-sizing: inherit; vertical-align: inherit;">This model aims to create interchangeable tokens, but has unique and irreplaceable characteristics.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; font-weight: bolder;">NFT is a unique entity and cannot be replaced by other things</span><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;"> . </span><span style="box-sizing: inherit; vertical-align: inherit;">For example, a unique trading card is non-homogeneous. </span><span style="box-sizing: inherit; vertical-align: inherit;">If you replace it with another card, you will have something completely different. </span><span style="box-sizing: inherit; vertical-align: inherit;">NFTs can be any number of things, but </span></span><span style="box-sizing: inherit; font-weight: bolder;">now many exciting things around using the technology to sell digital art</span><span style="box-sizing: inherit; vertical-align: inherit;"> .</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><img alt="What are the application scenarios of fanatical NFT? How to achieve it with technology?" loading="lazy" src="https://web.archive.org/web/20210406000522im_/https://img.chainnews.com/material/images/c484bb9609f1616e3d4c4a4858bf175e.jpg-article" style="border: 0px; box-sizing: inherit; display: block; height: auto; margin: 1rem auto; max-width: 100%;" /></p><h3 id="_2" style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 22px; line-height: 1.5; margin-bottom: 1.2rem; margin-top: 0.4rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">Encryption art</span></h3><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">Cryptographic art is a term used to distinguish all artworks sold on the blockchain. </span><span style="box-sizing: inherit; font-weight: bolder;">NFTs caused a huge sensation in the art world</span><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;"> . </span><span style="box-sizing: inherit; vertical-align: inherit;">An artist named Beeple recently sold an NFT for $69 million, and in the sports world, the NBA-licensed Top Shot card has generated total sales of $230 million.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">You can copy a digital file as you like, including the art contained in the NFT. </span><span style="box-sizing: inherit; font-weight: bolder;">But NFT is designed to give you something that you cannot copy: ownership of the work</span><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;"> . </span><span style="box-sizing: inherit; vertical-align: inherit;">The important thing is that artists can still retain copyright and reproduction rights, just like physical works of art. </span><span style="box-sizing: inherit; vertical-align: inherit;">From the perspective of physical art collection. </span><span style="box-sizing: inherit; vertical-align: inherit;">Anyone can buy Monet's prints. </span><span style="box-sizing: inherit; vertical-align: inherit;">But </span></span><span style="box-sizing: inherit; font-weight: bolder;">only one person can have the original</span><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;"> . </span><span style="box-sizing: inherit; vertical-align: inherit;">In addition to the content stipulated in the contract, you can of course also enjoy the fun of the work in your encrypted asset portfolio for anyone to watch. </span><span style="box-sizing: inherit; vertical-align: inherit;">It's like having an art gallery in your pocket. </span><span style="box-sizing: inherit; vertical-align: inherit;">This can be said to be very valuable for collectors.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">For digital artists, </span><span style="box-sizing: inherit; font-weight: bolder;">the appeal of using blockchain lies in the simplicity of ownership</span><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;"> . </span><span style="box-sizing: inherit; vertical-align: inherit;">Cryptographic art is more secure under the threat of copyists than anything else published on the Internet. </span><span style="box-sizing: inherit; vertical-align: inherit;">One can easily record a video or screenshot an image and proudly display the copy on their desktop. </span><span style="box-sizing: inherit; vertical-align: inherit;">But with NFT, the owner purchases a verified token and provides digital evidence that the artwork is theirs. </span><span style="box-sizing: inherit; vertical-align: inherit;">It's kind of like an artist's signature. </span></span><span style="box-sizing: inherit; font-weight: bolder;">The idea is to provide a certain degree of authenticity, and this authenticity is naturally given to physical art</span><span style="box-sizing: inherit; vertical-align: inherit;"> .</span></p><h3 id="_3" style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 22px; line-height: 1.5; margin-bottom: 1.2rem; margin-top: 0.4rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">Outside the art world</span></h3><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">Any NFT is just a digital souvenir, no more, no less. </span><span style="box-sizing: inherit; vertical-align: inherit;">In this case, NFT is a digital souvenir on a valuable platform. </span><span style="box-sizing: inherit; vertical-align: inherit;">It can work like other speculative assets. You buy it and hope that one day its value will rise so that you can sell it for a profit. </span><span style="box-sizing: inherit; vertical-align: inherit;">Technically, any number can be sold as an NFT. </span><span style="box-sizing: inherit; vertical-align: inherit;">International DJ deadmau5 has sold digital animation stickers. </span><span style="box-sizing: inherit; vertical-align: inherit;">There have been some attempts to associate NFT with real-world objects, usually as a verification method. </span></span><span style="box-sizing: inherit; font-weight: bolder;">Nike has applied for a patent for a method of using the NFT system to verify the authenticity of sports shoes, which it calls CryptoKicks</span><span style="box-sizing: inherit; vertical-align: inherit;"> .</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">One of the most interesting aspects of NFTs is how they are used in games. </span><span style="box-sizing: inherit; vertical-align: inherit;">There are already games that let you use NFTs as props. </span><span style="box-sizing: inherit; vertical-align: inherit;">One game even sold virtual land as NFTs. </span><span style="box-sizing: inherit; vertical-align: inherit;">There is an opportunity for players to buy a unique in-game gun or helmet or something as NFT, which will be a flexibility that most people can appreciate.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">Another use that is becoming popular is in the music industry. </span><span style="box-sizing: inherit; vertical-align: inherit;">Kings of Leon released a new album, which includes the NFT version, which has certain exclusive benefits, such as privileged locations for live performances, special albums, and different arts. </span><span style="box-sizing: inherit; vertical-align: inherit;">These tokens will be sold for two weeks, and then become collectibles, and their owners can trade. </span><span style="box-sizing: inherit; vertical-align: inherit;">Anyone can hear the band’s hit songs, but only buyers will have the original files.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><img alt="What are the application scenarios of fanatical NFT? How to achieve it with technology?" loading="lazy" src="https://web.archive.org/web/20210406000522im_/https://img.chainnews.com/material/images/16252d2a146f3651284df8a5f81d3226.jpg-article" style="border: 0px; box-sizing: inherit; display: block; height: auto; margin: 1rem auto; max-width: 100%;" /></p><h3 id="_4" style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 22px; line-height: 1.5; margin-bottom: 1.2rem; margin-top: 0.4rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">Try it yourself</span></h3><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">Now we introduce to you a solution for creating NFT using standard ERC-721. </span><span style="box-sizing: inherit; vertical-align: inherit;">For this, </span></span><span style="box-sizing: inherit; font-weight: bolder;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">we need to write code in Solidity. </span><span style="box-sizing: inherit; vertical-align: inherit;">This is an object-oriented programming language for writing smart contracts</span></span></span><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;"> . </span><span style="box-sizing: inherit; vertical-align: inherit;">It is used to implement smart contracts on various blockchain platforms, the most famous being Ethereum. </span><span style="box-sizing: inherit; vertical-align: inherit;">We created a file containing the interface of this token model. </span><span style="box-sizing: inherit; vertical-align: inherit;">This is the interface of our token. </span><span style="box-sizing: inherit; vertical-align: inherit;">The main difference about homogenized tokens is that each token has a unique ID.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><img alt="What are the application scenarios of fanatical NFT? How to achieve it with technology?" loading="lazy" src="https://web.archive.org/web/20210406000522im_/https://img.chainnews.com/material/images/57c04488a261729de44315fa155c0fd8.jpg-article" style="border: 0px; box-sizing: inherit; display: block; height: auto; margin: 1rem auto; max-width: 100%;" /></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">In the next document, we will create a product ownership structure. </span><span style="box-sizing: inherit; vertical-align: inherit;">Modifiers are used to change the behavior of the function. </span><span style="box-sizing: inherit; vertical-align: inherit;">This contract is a statement modifier </span></span><span style="box-sizing: inherit; font-weight: bolder;">sole owner</span><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;"> , it checks whether the contract with the interaction of the account is the owner of a specific product. </span><span style="box-sizing: inherit; vertical-align: inherit;">If the condition is not met, the required function will throw an exception.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><img alt="What are the application scenarios of fanatical NFT? How to achieve it with technology?" loading="lazy" src="https://web.archive.org/web/20210406000522im_/https://img.chainnews.com/material/images/c7257db67caa56969b92e16f5e00fce8.jpg-article" style="border: 0px; box-sizing: inherit; display: block; height: auto; margin: 1rem auto; max-width: 100%;" /></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">The NFT interface has the methods and events that our tokens must implement, the </span><span style="box-sizing: inherit; font-weight: bolder;">ProductFactory</span><span style="box-sizing: inherit; vertical-align: inherit;"> has a data structure and the function of creating new products, and the </span><span style="box-sizing: inherit; font-weight: bolder;">ProductOwnership</span><span style="box-sizing: inherit; vertical-align: inherit;"> contract implements the methods of the NFT interface.</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><img alt="What are the application scenarios of fanatical NFT? How to achieve it with technology?" loading="lazy" src="https://web.archive.org/web/20210406000522im_/https://img.chainnews.com/material/images/90f6ad7b3124cda8f7a63849c269b62c.jpg-article" style="border: 0px; box-sizing: inherit; display: block; height: auto; margin: 1rem auto; max-width: 100%;" /></p><h3 id="_5" style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 22px; line-height: 1.5; margin-bottom: 1.2rem; margin-top: 0.4rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">Summarize</span></h3><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; outline: 0px; text-align: justify;"><span style="box-sizing: inherit; font-weight: bolder;">NFT is a boom, it has already occupied the elite of Silicon Valley</span><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;"> . </span><span style="box-sizing: inherit; vertical-align: inherit;">Its biggest difference is that it can become a unique entity that </span></span><span style="box-sizing: inherit; font-weight: bolder;">cannot be replaced by other things</span><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;"> . </span><span style="box-sizing: inherit; vertical-align: inherit;">They can be used to represent digital files, such as art, audio, video, props in video games, and other forms of creative works. </span><span style="box-sizing: inherit; vertical-align: inherit;">Using the ERC-721 standard, we propose an application method to create your own NFT. </span><span style="box-sizing: inherit; vertical-align: inherit;">Now you just need to imagine new possibilities for use.</span></span></p>Nischal Lal Shresthahttp://www.blogger.com/profile/05625422095651611201noreply@blogger.com0tag:blogger.com,1999:blog-8831307421570903483.post-5528770759103580372021-11-26T20:19:00.001-08:002021-11-26T20:19:18.500-08:00Is NFT another blockchain trend, or is it a bubble about to burst?<p> <span style="background-color: white; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; text-align: justify;">Although anyone can create unrestricted NFT tokens, once the "zero cost" NFT floods the market, the supply of creation overwhelms the demand, which may eventually lead to a price collapse.</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><img alt="Interpreting the "Dangers" and "Operations" of Zero-Cost NFT Survival | 得得精译" loading="lazy" src="https://web.archive.org/web/20210407123926im_/https://img.chainnews.com/material/images/912114dd74fe188aa753905cb2e6c5fe.jpg-article" style="border: 0px; box-sizing: inherit; display: block; height: auto; margin: 1rem auto; max-width: 100%;" /></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">NFT, is it another blockchain trend, is it capital for investors to show off, or is it a bubble that is about to burst?</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">When a digital artwork was sold at a stunning price ($69.35 million) at Christie’s auction, the winning bidder did not get anything tangible—no sculptures, paintings, or even prints.</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">Instead, he/she got a unique digital token, which is called "NFT", or non-homogeneous token.</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><img alt="Interpreting the "Dangers" and "Operations" of Zero-Cost NFT Survival | 得得精译" loading="lazy" src="https://web.archive.org/web/20210407123926im_/https://img.chainnews.com/material/images/69bf4bd2f13f3eec2d7b3769a5ceafcc.jpg-article" style="border: 0px; box-sizing: inherit; display: block; height: auto; margin: 1rem auto; max-width: 100%;" /><em style="box-sizing: inherit; color: #737373; display: inline-block; font-size: 0.7rem; text-align: center; width: 688px;"><span style="box-sizing: inherit; vertical-align: inherit;">Note: The picture above shows the digital mosaic "Everydays: The First 5000 Days" by encryption artist Beeple (formerly Mike Winkelmann), which was auctioned off at Christie for a final price of US$69.35 million</span></em></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">The so-called "non-homogenization" in NFT means that no two tokens are the same and interchangeable, and each token is unique.</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">Traditional fiat currencies (such as the Indian rupee and the US dollar), and even common cryptocurrencies such as Bitcoin and Ethereum can be interchanged with each other and have the same value. For example, the 100 US dollars in your hand is essentially the 100 US dollars in my hand. no difference.</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">If you send someone a bitcoin, he/she will return it, and the returned bitcoin must not be the one you just sent.</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">However, each NFT has unique attributes, so it cannot be interchanged with another NFT. In the digital world, NFT is an "asset" that can be bought and sold like any other physical asset.</span></p><h3 id="nft" style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 22px; line-height: 1.5; margin-bottom: 1.2rem; margin-top: 0.4rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">Why do we need to apply NFT to digital collections and artworks?</span></h3><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">In the digital world, all content is reproducible. </span><span style="box-sizing: inherit; vertical-align: inherit;">If you want to forward an image to 10 people, just keep the original image and create 10 new copies at the same time.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">However, blockchain technology does not allow people to copy the cryptocurrency NFT, nor does it allow people to spend the same token twice.</span></p><h3 id="nft_1" style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 22px; line-height: 1.5; margin-bottom: 1.2rem; margin-top: 0.4rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">Why does the market hype about NFT?</span></h3><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">As people spend more time looking at the screen with their mobile phones, our lives have become digital. </span><span style="box-sizing: inherit; vertical-align: inherit;">In fact, in the past few years, we have had unique digital products such as game tokens, game props and other collectibles. They are all uniquely marked and can be transformed into NFT in essence.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">Of course, the concept of tokenization has existed for many years, but in the recent period, one is the upsurge of cryptocurrency, and the other is that digital art sold through NFT has been sold at extremely high prices. Both have greatly stimulated Market interest, such as:</span></p><ul style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; list-style-image: initial; list-style-position: inside; margin: 1.6rem 0px 1.6rem 1.6rem; padding: 0px; text-align: justify;"><li style="box-sizing: inherit; margin-top: 0.4rem;"><p style="box-sizing: inherit; display: inline; hyphens: auto; margin: 0px 0px 1.6rem;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">Well-known investors such as the owner of the NBA Dallas Mavericks and billionaire Mark Cuban have been exploring the NFT. On the </span></span><span class="project-highlight" id="project-nba-top-shot" style="box-sizing: inherit; cursor: pointer; font-weight: 700; margin: 0px 0.1em; position: relative;" tabindex="0"><span style="border-bottom: 0.05rem solid rgb(239, 239, 239); box-sizing: inherit; padding-bottom: 0.1rem;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">NBA Top Shot</span></span></span></span><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;"> website, you can see many exclusive stars’ "highlight moments" video NFT.</span></span></p></li><li style="box-sizing: inherit; margin-top: 0.4rem;"><p style="box-sizing: inherit; display: inline; hyphens: auto; margin: 0px 0px 1.6rem;"><span style="box-sizing: inherit; vertical-align: inherit;">In February of this year, the digital collection distribution and trading platform Foundation tweeted that the Nyan Cat digital animation artwork created by artist Chris Torres was sold for 300 ETH (approximately US$585,954) in the NFT auction.</span></p></li><li style="box-sizing: inherit; margin-top: 0.4rem;"><p style="box-sizing: inherit; display: inline; hyphens: auto; margin: 0px 0px 1.6rem;"><span style="box-sizing: inherit; vertical-align: inherit;">Twitter co-founder Jack Dorsey (Jack Dorsey) launched the first ever Tweet NFT, bid up to 2.5 million US dollars.</span></p></li></ul><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">Any unique digital “asset” can carry the NFT label. Under the current market boom, these NFTs can obtain high valuations in a short period of time, and the range of assets is also all-encompassing, such as the new release of the rock band Kings of Leon. Albums, various cute cartoon cats (mostly in the name of digital art), or many other things in between.</span></p><h3 id="nft_2" style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 22px; line-height: 1.5; margin-bottom: 1.2rem; margin-top: 0.4rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">Are there any benefits to NFT?</span></h3><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">It is undeniable that NFT has solved many problems existing on the Internet. </span><span style="box-sizing: inherit; vertical-align: inherit;">As everything becomes more digital, it is necessary for the digital world to replicate physical attributes such as scarcity, uniqueness, and proof of ownership. </span><span style="box-sizing: inherit; vertical-align: inherit;">In the Netflix science fiction series "Black Mirror", even human consciousness can be uploaded online in the future. The introduction of NFT actually </span><span style="box-sizing: inherit; font-weight: bolder;"><span style="box-sizing: inherit; vertical-align: inherit;">solves the uniqueness of digital goals to a</span></span><span style="box-sizing: inherit; vertical-align: inherit;"> certain extent </span></span><span style="box-sizing: inherit; font-weight: bolder;">.</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">Every NFT has an owner, and the owner's information is recorded in the public blockchain, and anyone can easily verify it. </span><span style="box-sizing: inherit; vertical-align: inherit;">Artists and other creators can not only enter the global market through NFT, but also retain the ownership of their works, and can even directly request for resale royalties.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">Of course, NFT may have other benefits, and maybe you can use NFT as collateral for decentralized loans in the future.</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">It should be noted that NFT valuation has experienced traditional hype and bubble cycles. </span><span style="box-sizing: inherit; vertical-align: inherit;">Even the digital artist "Beeple" admitted this in an interview with the BBC (an NFT artwork created by "Beeple" was recently sold for $69 million).</span></span></p><h3 id="nft_3" style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 22px; line-height: 1.5; margin-bottom: 1.2rem; margin-top: 0.4rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">What are the caveats of NFT?</span></h3><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">However, NFT is essentially the only label for assets, and the value of NFT should not increase just because of the label.</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">If you have to make a comparison, NFT may be very similar to the unique barcode affixed to the package in the express service. Each package has a barcode. Although the barcode is useful, it does not have any impact on the value of the package itself.</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">In essence, NFTs are no different. They are like unique barcodes, except that they are decentralized and based on the blockchain.</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">In addition, NFT also has a dark side, especially some media hype, making people think that they can make a lot of money in the NFT market, plus Twitter founder Jack Dorsey and Tesla founder Elon Ma Industry leaders such as Elon Musk are also actively promoting the NFT trend, causing many people to be very excited about this emerging Internet concept. </span><span style="box-sizing: inherit; vertical-align: inherit;">Looking back on the past market development, perhaps we can see some clues:</span></span></p><ul style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; list-style-image: initial; list-style-position: inside; margin: 1.6rem 0px 1.6rem 1.6rem; padding: 0px; text-align: justify;"><li style="box-sizing: inherit; margin-top: 0.4rem;"><p style="box-sizing: inherit; display: inline; hyphens: auto; margin: 0px 0px 1.6rem;"><span style="box-sizing: inherit; vertical-align: inherit;">During 2016-2017, we saw a bumper harvest in the "Initial Coin Offering" (ICO);</span></p></li><li style="box-sizing: inherit; margin-top: 0.4rem;"><p style="box-sizing: inherit; display: inline; hyphens: auto; margin: 0px 0px 1.6rem;"><span style="box-sizing: inherit; vertical-align: inherit;">During 2018-2019, we saw a boom in "securitized token products";</span></p></li><li style="box-sizing: inherit; margin-top: 0.4rem;"><p style="box-sizing: inherit; display: inline; hyphens: auto; margin: 0px 0px 1.6rem;"><span style="box-sizing: inherit; vertical-align: inherit;">During 2019-2020, we have found that Decentralized Finance (DeFi) has become a hot topic in the market;</span></p></li><li style="box-sizing: inherit; margin-top: 0.4rem;"><p style="box-sizing: inherit; display: inline; hyphens: auto; margin: 0px 0px 1.6rem;"><span style="box-sizing: inherit; vertical-align: inherit;">Now we have NFT.</span></p></li></ul><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">For those who are not optimistic about NFTs, one of their biggest "accusations" against NFTs is that they feel that this emerging field has formed a scarce market because everyone can create unrestricted NFT tokens. In the real world, artworks are not made at "zero cost", which is the biggest difference from NFT.</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; font-weight: bolder;">However, once the "zero cost" NFT finally floods the market, it will cause more and more creators to try to profit from this craze, supply will overwhelm demand, and eventually cause prices to plummet.</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">On the other hand, although the essential value of NFT is a kind of "authenticity proof", the problem is that people can even create an NFT for a "thing that does not exist at all." </span><span style="box-sizing: inherit; vertical-align: inherit;">For example, if an artist has never created a painting, but publishes a fictitious NFT online, who can verify it?</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">From the perspective of energy use, both cryptocurrency and NFT transactions seem to be unsustainable. The energy consumed by a Bitcoin transaction may be equivalent to the energy consumption of 700,000 credit card swipes; Ethereum transactions are very slow and gas costs are expensive. .</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">It is said that the performance of NFT transactions is even worse. A single NFT transaction involves multiple digital processes. From creation, purchase, to sale and resale, each step requires a lot of energy. </span><span style="box-sizing: inherit; vertical-align: inherit;">Statistics show that the average power consumption of NFT is about 340 kWh, which means that the carbon footprint is as high as 211 kg.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">Another uncertainty is that, </span><span style="box-sizing: inherit; font-weight: bolder;">in essence, the value of NFTs may be completely separated from the digital goods they mark, thereby destroying their original value.</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">For example, if a certain NFT marks a painting, after the NFT is sold, the original author can actually change his paintings, and all the "only NFTs for new paintings" can still get copies for free, then those sold in the past What is the value of NFT?</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">So, if you are still considering buying NFT, please consider carefully and carefully read the contents and questions mentioned in this article.</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">Unless you are a creator yourself, NFT will not provide any cash flow. </span><span style="box-sizing: inherit; vertical-align: inherit;">Not only that, if by definition, NFT is not even a real asset.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; outline: 0px; text-align: justify;"><span style="box-sizing: inherit; outline: 0px; vertical-align: inherit;">If you want to make money, the only way is to find other NFT buyers. This means that once the bubble bursts, you may only have the "right to brag".</span></p>Nischal Lal Shresthahttp://www.blogger.com/profile/05625422095651611201noreply@blogger.com0tag:blogger.com,1999:blog-8831307421570903483.post-12011991406577803402021-11-26T20:17:00.002-08:002021-11-26T20:17:18.641-08:00NFT is more than an art collection, how to use REVV to experience top racing games?<p></p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/a/AVvXsEhQ3C7Pguod0UvCYEsaJ_1yYC-nLCMq_VzQtm08XMjbQi29SA8okFse-Z_GCqxrcf7v58JSShE2Y7Pn55pmnK-YuanzdFAlnJ2gkKUN1HKHji5XI7-J67cqrlrb8JGezIah853CFAZinFnTS5dIkNQPAzSYTuyIbd-pLsYrRrKp9BKdJOd48mtVZOAd=s600" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="600" data-original-width="600" height="640" src="https://blogger.googleusercontent.com/img/a/AVvXsEhQ3C7Pguod0UvCYEsaJ_1yYC-nLCMq_VzQtm08XMjbQi29SA8okFse-Z_GCqxrcf7v58JSShE2Y7Pn55pmnK-YuanzdFAlnJ2gkKUN1HKHji5XI7-J67cqrlrb8JGezIah853CFAZinFnTS5dIkNQPAzSYTuyIbd-pLsYrRrKp9BKdJOd48mtVZOAd=w640-h640" width="640" /></a></div><br /><span style="background-color: white; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; text-align: justify;"><br /></span><p></p><p><span style="background-color: white; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; text-align: justify;"><br /></span></p><p><span style="background-color: white; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; text-align: justify;">NFT (Non-Fungible Token, non-fungible token) is undoubtedly the hottest hot spot in the blockchain industry this year: a digital artwork by artist Beeple was sold at Christie’s for a astronomical US$69.34 million, recording NBA stars’ shooting "highlights" "Moment"’s NBA Top Shot set a sales record of more than 300 million U.S. dollars... When the attention of the outside world was almost all attracted by digital art and collectible NFTs, the market’s sensitive NFT players found game NFTs, especially REVV, the NFT token, can not only experience the speed and passion of the world's top racing games, but also earn their wealth by mining during the game.</span></p><h3 id="revv-revv" style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 22px; line-height: 1.5; margin-bottom: 1.2rem; margin-top: 0.4rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">What is REVV? What are the application scenarios of REVV?</span></h3><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">REVV is an ERC 20 token based on Ethereum. Like the 6,498 digital currencies currently traded on 437 cryptocurrency exchanges, it is a homogenized token (Fungible Token, a non-unique token interchangeable with similar tokens). Currency), the application tokens and in-game currency issued by the blockchain game company Animoca Brands for the series of racing games that it is authorized to operate. </span><span style="box-sizing: inherit; vertical-align: inherit;">Currently, the blockchain racing games supported by REVV include Formula One F1® Delta Time, the World Motorcycle Championship MotoGP™ Ignition, which will be launched on March 26, and will be extended to Formula E in the future.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><img alt="NFT is more than an art collection, how to use REVV to experience top racing games?" loading="lazy" src="https://web.archive.org/web/20210409053553im_/https://img.chainnews.com/material/images/5b6133016f995818abbdf2bb52051bc0.jpg-article" style="border: 0px; box-sizing: inherit; display: block; height: auto; margin: 1rem auto; max-width: 100%;" /></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">Although Animoca Brands announced as early as March 2019 that it will cooperate with the world's top auto racing F1 to develop the blockchain game F1® Delta Time, and since May of the previous year, it has received 5,289,541 US dollars through the racing track auction and the sales of racing cars and their parts. The total F1 NFT sales of NFT (Nonfungible.com data on April 7), but REVV launched on Uniswap on September 4 last year aims to expand the user base of the racing game NFT, achieve true digital ownership of game assets, and give players The right to discretion and control of the property in the game-most of which are tokenized.</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">Currently, REVV can be purchased on decentralized exchanges such as Uniswap and Sushiswap, and centralized exchanges such as KuCoin, Bittrex, Bithumb Global, and MXC.</span></p><h3 id="f1-delta-time" style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 22px; line-height: 1.5; margin-bottom: 1.2rem; margin-top: 0.4rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">What is F1® Delta Time? </span><span style="box-sizing: inherit; vertical-align: inherit;">How to play specifically?</span></span></h3><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">F1® Delta Time is a blockchain game developed and operated by Animoca Brands authorized by the F1 Formula One Racing League. The NFT in the game, including unique racing cars, drivers, car parts, driver equipment or tires, uses ERC-721 standards and is used in Run on Ethereum. </span><span style="box-sizing: inherit; vertical-align: inherit;">In the F1® Delta Time game, everything from drivers and racing cars to engines and tires exists as non-homogeneous tokens (NFT) with their own attributes.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">With REVV, open the F1® Delta Time </span><a href="https://web.archive.org/web/20210409053553mp_/https://www.f1deltatime.com/" style="background-color: transparent; border-bottom: 0.05rem solid rgb(239, 239, 239); box-sizing: inherit; color: #0056ff; padding-bottom: 0.1rem; text-decoration-line: none;" target="_blank"><span style="box-sizing: inherit; vertical-align: inherit;">official website</span></a><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;"> , select the </span><span style="box-sizing: inherit; vertical-align: inherit;">Ethereum </span><span style="box-sizing: inherit; vertical-align: inherit;">main network (Note: In the future, it will migrate to the Ethereum second-tier Polygon network focusing on games and NFT applications to reduce Gas overhead and increase speed), and connect to your MetaMask wallet to register Your player account, then you can pay the registration fee to participate in the Time Trail (Time Trail), Grand Prix (Grand Prix) to get REVV rewards——</span></span></p><ul style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; list-style-image: initial; list-style-position: inside; margin: 1.6rem 0px 1.6rem 1.6rem; padding: 0px; text-align: justify;"><li style="box-sizing: inherit; margin-top: 0.4rem;"><span style="box-sizing: inherit; vertical-align: inherit;">Time Trial: There are two seasons of 2019 and 2020, held on different tracks every week, each track is ranked according to the four different tire levels of ABCD every week, and the top 10 collectively share 10000REVV rewards;</span></li><li style="box-sizing: inherit; margin-top: 0.4rem;"><span style="box-sizing: inherit; vertical-align: inherit;">Grand Prix: The current 2019 and 2020 seasons are held at the same time, except for the Autodromo Nazionale Monza circuit in Italy, the Silverstone circuit in the UK, the Spa-Francorchamps circuit in Belgium, and the Circuit de Monaco circuit in Monaco from March 22 to 28. In addition to the 4 tracks, the Shanghai International Circuit in China has been added for the first time. Players will rank each track according to four different tire levels ABCD and four different weather conditions: sunny and hot, dry, light rain and heavy rain. 24 2020 season key prizes and 100,000 REVV rewards.</span></li></ul><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">Although the difficulty of becoming an F1 driver and forming a team in a blockchain racing game is much lower than reality, you still need to buy and configure your car, familiarize yourself with the track, and practice you after the time trial. Car skills. </span><span style="box-sizing: inherit; vertical-align: inherit;">You can buy your favorite F1 cars, racing parts, tires, drivers, driver equipment, etc. at the current largest NFT market OpenSea. These are all user-specific and tradable NFTs. So far, a total of 1,144 NFT players have traded 25,478 F1 NFTs, with a total transaction volume of 9,426.4 ETH, with an average price of 1.15 ETH (Opensea data on April 7).</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">You can also purchase F1® Delta Time keys to get game equipment. </span><span style="box-sizing: inherit; vertical-align: inherit;">The key is a homogenized token officially launched at the end of last year. It has the nature of a blind box, making it easier for you to obtain equipment and the game to play more easily. </span><span style="box-sizing: inherit; vertical-align: inherit;">Each key can get 5 2020 F1® Delta Time NFTs-at least one of which is guaranteed to be a racing car or driver. </span><span style="box-sizing: inherit; vertical-align: inherit;">When you log in to the official website to open the garage channel and use a key, these 5 NFTs will be directly minted into the owner's wallet and become your unique digital asset. </span><span style="box-sizing: inherit; vertical-align: inherit;">Pre-sale of 2020 F1® Delta Time keys was held on December 4, 2020. There are four basic 1300 keys: Legend, Epic, Rare, and Common. The exchange rate is approximately equal to 1.3 million U.S. dollars). </span><span style="box-sizing: inherit; vertical-align: inherit;">The 2020 key will not be sold officially after the last sale on the official website from February 4th to March 13th this year. </span><span style="box-sizing: inherit; vertical-align: inherit;">If you still want to get it, you must get it through the secondary market or participate in games or pledge activities.</span></span></p><h3 id="_1" style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 22px; line-height: 1.5; margin-bottom: 1.2rem; margin-top: 0.4rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">About pledge and auction</span></h3><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">Of course, you can also choose not to play games, simply pledge REVV or use DeFi functions such as racing NFT mining purchased by REVV to obtain REVV passive income. </span><span style="box-sizing: inherit; vertical-align: inherit;">Unlike other blockchain projects that adopt PoS consensus to pledge native token mining to reward users who produce blocks and maintain network security, F1® Delta Time racing NFT holders earn REVV by staking their NFT. </span><span style="box-sizing: inherit; vertical-align: inherit;">The amount of REVV earned through pledge is mainly determined by the rarity of the NFT. The higher the rarity, the greater the return.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">To pledge, you need to have at least one 2019 racing NFT. </span><span style="box-sizing: inherit; vertical-align: inherit;">When a player pledges his own NFT car, it means that the ownership of the car is temporarily transferred to F1® Delta Time. The player cannot use the NFT car to compete during the pledge period, but will receive the corresponding REVV reward based on the pledge period and other variables .</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">The total distribution of REVV in the F1® Delta Time pledge pool is 30 million REVV. </span><span style="box-sizing: inherit; vertical-align: inherit;">Among them, the REVV quota for NFT racing in 2019 is 12,040,000 REVVs, divided into two pledge periods: the first phase will award a total of 2,040,000 REVV (approximately equal to 842,800 US dollars, and the first round of 2019 NFT pledge has been launched on September 15, 2020. 4 weeks); the second phase award 10,000,000 REVV (the second round of 2019 NFT pledge from February 22 to March 23, 2021, participants can get a total of 2,000,000 REVV; the third round of pledge starts on March 24, The REVV reward will be determined by the number of games in the second round of staking, the transaction and the key opened).</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">F1® Delta Time's racing cars and track NFTs are also digital collectibles with record prices and rare goods in the market. </span><span style="box-sizing: inherit; vertical-align: inherit;">On December 2, 2020, a section of the 1A track of the 2020 Monaco Formula One Grand Prix was auctioned off for more than 9 million REVVs (approximately US$222,000). Beeple was sold for nearly US$70 million. NFT giant whale collector Metakovan was in the bag; on March 12, the 70th anniversary edition of the Apex Extreme Racing NFT ended the auction on OpenSea. The final bid was 987,000 REVVs, valued at US$270,000, making it the highest-priced F1® Delta Time car to date.</span></span></p><h3 id="motogptm-ignition" style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 22px; line-height: 1.5; margin-bottom: 1.2rem; margin-top: 0.4rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">What is MotoGP™ Ignition? </span><span style="box-sizing: inherit; vertical-align: inherit;">How to play specifically?</span></span></h3><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">From March 26th, with REVV, you will not only experience F1, the top racing IP blockchain game and NFT that has attracted 4.1 million contestants, 506 million fans and 1.6 billion TV viewers, but will also participate in the world's top In the blockchain game of MotoGP, the motorcycle race.</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">Unlike F1® Delta TimeMoto, MotoGP™Ignition is an NFT game with equal emphasis on collection and racing management. </span><span style="box-sizing: inherit; vertical-align: inherit;">Ignition Complete is the collectible platform of MotoGP™ Ignition. Players collect legendary MotoGP drivers and motorcycles, trade with other players, complete card collections and collect challenges. </span><span style="box-sizing: inherit; vertical-align: inherit;">Collectibles will be presented in the form of NFT collection cards. Players can obtain collection cards by purchasing card packs. Each card pack contains 3 cards of the theme randomly (if you are lucky, you may get a legendary card!), which will be announced when the pack is opened. The theme of the card pack. This theme determines the type of NFT you get. </span><span style="box-sizing: inherit; vertical-align: inherit;">For example, the first batch of card packs to be sold on March 26 will be based on the 2020 season, so all cards in the card pack will be based on the 2020 season, including drivers and motorcycles from the previous season. </span><span style="box-sizing: inherit; vertical-align: inherit;">These card packs can be opened from April 21st.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">The card pack theme plays a central role in the types of cards to be launched. In the future, the card pack will launch the latest championships and explore the MotoGP™ files in depth to create a racing star with collectible value. </span><span style="box-sizing: inherit; vertical-align: inherit;">The second batch of MotoGP™ card packs will be launched in mid-April.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">Ignition Legends is a racing management game with MotoGP™ Ignition that can be played by multiple players. </span><span style="box-sizing: inherit; vertical-align: inherit;">Players will have a head-to-head confrontation in the race, and the actions of the racers will be determined according to different laps. </span><span style="box-sizing: inherit; vertical-align: inherit;">When you fall behind in the race, wait for the opportunity to let your racer overtake the corner and take the lead. </span><span style="box-sizing: inherit; vertical-align: inherit;">You will see your racers win multiple positions, you will also see their endurance decline; you will see their confidence increase, you will also see a drop in concentration, and at the same time, newly discovered racers are trying their best to catch up. . </span><span style="box-sizing: inherit; vertical-align: inherit;">As a player, you need to control all of this. You need to know when to keep the racer calm, when to hold the position, and at which point to sprint.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">In addition to the race, players are also responsible for motorcycles, maintenance, and the status of racers and drivers. </span><span style="box-sizing: inherit; vertical-align: inherit;">To do this, you need to form a complete team, including mechanics and coaches, and work together to invest in the entire game. </span><span style="box-sizing: inherit; vertical-align: inherit;">All these game assets (including motorcycles, racers, trainers, mechanics, and parts such as mufflers, shock absorbers, and brakes) are tradable NFTs.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">The two platforms, Ignition Legends and Ignition Complete, will be interoperable to a certain extent, so that one of the assets has certain functions in the other. Completing a set of collections can bring you in-game benefits and rewards. </span><span style="box-sizing: inherit; vertical-align: inherit;">For example, if you have a series of Valentino Rossi championship season cards, the performance of your Valentino Rossi driver in the game will be improved. </span><span style="box-sizing: inherit; vertical-align: inherit;">In this way, MotoGP™ Ignition will emphasize collectibility and help players create value for the cards they own (not just the highest-rated cards).</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">Since it caters to the needs of NFT players whose collection is more important than games, compared with F1® Delta Time, MotoGP™ Ignition has a much lower participation threshold, and it is expected to obtain a larger user base. </span><span style="box-sizing: inherit; vertical-align: inherit;">As part of the REVV racing game ecology, there are many modes such as NFT pledge, liquidity mining, and earn while playing. MotoGP™ Ignition will not be lacking.</span></span></p><h3 id="motogptm-flow" style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 22px; line-height: 1.5; margin-bottom: 1.2rem; margin-top: 0.4rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">MotoGP™ and FLOW</span></h3><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">It is worth mentioning that MotoGP™ Ignition will be released on the Flow blockchain, and all content and game experience will run on the Flow chain, and REVV will also circulate on the Flow chain through a connection bridge. </span><span style="box-sizing: inherit; vertical-align: inherit;">The Flow Chain is a public chain developed by Dapper Labs, a development team that developed blockchain games + NFT explosive crypto cats in 2017, for the slow throughput of the Ethereum platform and the limitations of expensive Gas. It focuses on blockchain games and NFT application scenarios. </span><span style="box-sizing: inherit; vertical-align: inherit;">Animoca Brands is an investor and partner of Dapper Labs, so it is confident that Flow can achieve scalability without affecting decentralization and provide an unparalleled user experience for mainstream audiences. </span><span style="box-sizing: inherit; vertical-align: inherit;">MotoGP™ Ignition will be the next major sports brand after the NBA Top Shot has been launched on the Flow chain, the NFT with the highest number of users and transaction volume so far.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; outline: 0px; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">At the same time, Animoca Brands has announced that it is cooperating with Binance Smat Chain and Polygon (Matic Network), an expansion solution for the Ethereum side chain. F1® Delta Time and REVV will soon be deployed on BSC and Polygon, greatly reducing the cost. Increasingly congested expensive Ethereum fees to improve user experience.</span></p>Nischal Lal Shresthahttp://www.blogger.com/profile/05625422095651611201noreply@blogger.com0tag:blogger.com,1999:blog-8831307421570903483.post-60470093278180742102021-11-26T20:15:00.002-08:002021-11-26T20:15:13.125-08:00The collision of DeFi and NFTs | NFTs usher in record high transaction volume<p> </p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/a/AVvXsEhg9jaQjhNoeYRMKqIk0qrhKg8_ErSkxjD4NlkQR-eaDJ67P5W8srvDC94wh9YqIGHfre-wjo6MtePB-X7CGTyeRaURu9fcnTx7E62i9QG1asu8ee7QmYAXDUYqoDXYnUyys0d2v6Cjajx8leOuPtHsDt0UaYN0ztAeCza5C0VW1jOPeWP7ied8wC-J=s2048" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="2048" data-original-width="2048" height="640" src="https://blogger.googleusercontent.com/img/a/AVvXsEhg9jaQjhNoeYRMKqIk0qrhKg8_ErSkxjD4NlkQR-eaDJ67P5W8srvDC94wh9YqIGHfre-wjo6MtePB-X7CGTyeRaURu9fcnTx7E62i9QG1asu8ee7QmYAXDUYqoDXYnUyys0d2v6Cjajx8leOuPtHsDt0UaYN0ztAeCza5C0VW1jOPeWP7ied8wC-J=w640-h640" width="640" /></a></div><br /><p></p><h3 id="defi-nfts" style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 22px; line-height: 1.5; margin-bottom: 1.2rem; margin-top: 0.4rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">The collision of DeFi and NFTs</span></h3><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; font-weight: bolder;"><span style="box-sizing: inherit; vertical-align: inherit;"></span></span><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">The trend of </span><span style="box-sizing: inherit; font-weight: bolder;"><span style="box-sizing: inherit; vertical-align: inherit;">NFT to integrate financial concepts</span></span><span style="box-sizing: inherit; vertical-align: inherit;"> started in 2020.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">For example, the NFT trading platform </span><span style="box-sizing: inherit; font-weight: bolder;">Rarible</span><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;"> has </span><span style="box-sizing: inherit; font-weight: bolder;"><span class="project-highlight" id="project-rarible" style="box-sizing: inherit; cursor: pointer; margin: 0px 0.1em; position: relative;" tabindex="0"><span style="border-bottom: 0.05rem solid rgb(239, 239, 239); box-sizing: inherit; padding-bottom: 0.1rem;"><span style="box-sizing: inherit; vertical-align: inherit;">launched the</span></span></span></span><span style="box-sizing: inherit; vertical-align: inherit;"> decentralized insurance service yinsure.finance's NFT insurance policy, that is, </span></span><span style="box-sizing: inherit; font-weight: bolder;">yInsure NFTs</span><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;"> . </span><span style="box-sizing: inherit; vertical-align: inherit;">These yInsure NFTs allow users to buy and sell insurance for certain DeFi projects in the form of NFT. </span><span style="box-sizing: inherit; vertical-align: inherit;">Although this type of insurance has limitations, </span></span><span style="box-sizing: inherit; font-weight: bolder;">this concept shows how to use NFTs to create a liquid market.</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; font-weight: bolder;">Aavegotchi</span><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;"> is another game and digital collectible platform that tries to combine DeFi with NFT. </span><span style="box-sizing: inherit; vertical-align: inherit;">Each Aavegotchi NFT token is not only a collectible item, but also an asset that can generate income. It is displayed as a " </span></span><span style="box-sizing: inherit; font-weight: bolder;">pixel ghost</span><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;"> " </span><span style="box-sizing: inherit; vertical-align: inherit;">in the game </span><span style="box-sizing: inherit; vertical-align: inherit;">(see the picture below).</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><img alt="Overview of DApp development in the first quarter: Binance Smart Chain became the biggest dark horse, and NFT grew rapidly" loading="lazy" src="https://web.archive.org/web/20210406111600im_/https://img.chainnews.com/material/images/97b0ef79848e2cbbc85b40b13d9c8c2f.jpg-article" style="border: 0px; box-sizing: inherit; display: block; height: auto; margin: 1rem auto; max-width: 100%;" /></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">Recently, the number of daily active unique addresses on the Aavegotchi platform has soared to more than 3,000. </span><span style="box-sizing: inherit; vertical-align: inherit;">Currently, </span></span><span style="box-sizing: inherit; font-weight: bolder;">Aavegotchi is one of the 10 most commonly used DApps in the NFT field</span><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;"> . </span><span style="box-sizing: inherit; vertical-align: inherit;">See below:</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><img alt="Overview of DApp development in the first quarter: Binance Smart Chain became the biggest dark horse, and NFT grew rapidly" loading="lazy" src="https://web.archive.org/web/20210406111600im_/https://img.chainnews.com/material/images/174379d59d71fde9a7c72030dbaee3ea.jpg-article" style="border: 0px; box-sizing: inherit; display: block; height: auto; margin: 1rem auto; max-width: 100%;" /><em style="box-sizing: inherit; color: #737373; display: inline-block; font-size: 0.7rem; text-align: center; width: 688px;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">Above: The growth of the number of daily active unique addresses on the Aavegotchi platform. </span><span style="box-sizing: inherit; vertical-align: inherit;">Source: DAppRadar</span></span></em></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">Finally, Uniswap recently gave a surprise for a non-functional test. Uniswap V3 will convert the LPtoken of liquidity providers (LPs) from the current ERC-20 to NFT.</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">The above measures are very important to the NFT industry, because </span><span style="box-sizing: inherit; font-weight: bolder;">they show the development path of the NFT industry</span><span style="box-sizing: inherit; vertical-align: inherit;"> , and </span><span style="box-sizing: inherit; font-weight: bolder;">may also change the concept of DeFi projects</span><span style="box-sizing: inherit; vertical-align: inherit;"> . We may begin to </span><span style="box-sizing: inherit; font-weight: bolder;">see DeFi and NFT more interconnected</span><span style="box-sizing: inherit; vertical-align: inherit;"> .</span></p><h3 id="nfts" style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 22px; line-height: 1.5; margin-bottom: 1.2rem; margin-top: 0.4rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">NFTs usher in record high transaction volume</span></h3><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">So far, it </span><span style="box-sizing: inherit; font-weight: bolder;">can be said that the theme of Q1 in 2021 is NFT</span><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;"> . </span><span style="box-sizing: inherit; vertical-align: inherit;">In the first three months of this year alone, NFT transactions created more than </span></span><span style="box-sizing: inherit; font-weight: bolder;">$1.5 billion</span><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;"> in transaction volume. </span><span style="box-sizing: inherit; vertical-align: inherit;">Although this is only a small part compared with the DeFi ecosystem, </span></span><span style="box-sizing: inherit; font-weight: bolder;">the transaction volume of NFT in the first quarter of this year increased by 2627% compared to the previous quarter</span><span style="box-sizing: inherit; vertical-align: inherit;"> .</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">NFT transactions in the first quarter of this year, the largest contributors were </span><span style="box-sizing: inherit; font-weight: bolder;">NBA Top Shot</span><span style="box-sizing: inherit; vertical-align: inherit;"> , </span><span style="box-sizing: inherit; font-weight: bolder;">CryptoPunks</span><span style="box-sizing: inherit; vertical-align: inherit;"> and </span><span style="box-sizing: inherit; font-weight: bolder;">OpenSea</span><span style="box-sizing: inherit; vertical-align: inherit;"> , which accounted for </span><span style="box-sizing: inherit; font-weight: bolder;">73% of the</span><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;"> total NFT transaction volume </span><span style="box-sizing: inherit; vertical-align: inherit;">. </span><span style="box-sizing: inherit; vertical-align: inherit;">See below:</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><img alt="Overview of DApp development in the first quarter: Binance Smart Chain became the biggest dark horse, and NFT grew rapidly" loading="lazy" src="https://web.archive.org/web/20210406111600im_/https://img.chainnews.com/material/images/bff9d9ed99368a316f1c762788518d35.jpg-article" style="border: 0px; box-sizing: inherit; display: block; height: auto; margin: 1rem auto; max-width: 100%;" /><em style="box-sizing: inherit; color: #737373; display: inline-block; font-size: 0.7rem; text-align: center; width: 688px;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">Above: Since October 2020, the monthly transaction volume comparison of major NFT applications, unit: million U.S. dollars. </span><span style="box-sizing: inherit; vertical-align: inherit;">Source: DAppRadar</span></span></em></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; font-weight: bolder;">NBA Top Shots</span><span style="box-sizing: inherit; vertical-align: inherit;"> are NFTs launched by the founding team of CryptoKitties, DApper Labs, in cooperation with the NBA. These NFTs represent wonderful short videos of NBA players. </span><span style="box-sizing: inherit; font-weight: bolder;">In the first quarter of this year, NBA Top Shot was still the number one NFT product in the NFT field by transaction volume</span><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;"> , attracting a large number of media and users' attention. </span><span style="box-sizing: inherit; vertical-align: inherit;">It generated nearly </span></span><span style="box-sizing: inherit; font-weight: bolder;">$500 million</span><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;"> in revenue </span><span style="box-sizing: inherit; vertical-align: inherit;">in the first quarter of 2021 </span><span style="box-sizing: inherit; vertical-align: inherit;">.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><img alt="Overview of DApp development in the first quarter: Binance Smart Chain became the biggest dark horse, and NFT grew rapidly" loading="lazy" src="https://web.archive.org/web/20210406111600im_/https://img.chainnews.com/material/images/a484faddb014474af2046a88e2b5c7df.jpg-article" style="border: 0px; box-sizing: inherit; display: block; height: auto; margin: 1rem auto; max-width: 100%;" /><em style="box-sizing: inherit; color: #737373; display: inline-block; font-size: 0.7rem; text-align: center; width: 688px;"><span style="box-sizing: inherit; vertical-align: inherit;">NBA Top Shots</span></em></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">Although the transaction volume of NBA Top Shots is impressive, its data in March was lower than in February: technical issues caused user retention and satisfaction issues. </span><span style="box-sizing: inherit; vertical-align: inherit;">Although the NBA Top Shots NFT is still the leader in the field, but </span></span><span style="box-sizing: inherit; font-weight: bolder;">in the long run, user retention and satisfaction will be a key challenge</span><span style="box-sizing: inherit; vertical-align: inherit;"> .</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">In addition, in the first quarter of this year, </span><span style="box-sizing: inherit; vertical-align: inherit;">the trading volume </span><span style="box-sizing: inherit; vertical-align: inherit;">of the first batch of NFT collectibles </span></span><span style="box-sizing: inherit; font-weight: bolder;">CryptoPunks</span><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;"> ( </span><span style="box-sizing: inherit; font-weight: bolder;"><span style="box-sizing: inherit; vertical-align: inherit;">cryptopunk</span></span><span style="box-sizing: inherit; vertical-align: inherit;"> ) on </span><span style="box-sizing: inherit; font-weight: bolder;"><span style="box-sizing: inherit; vertical-align: inherit;">Ethereum</span></span><span style="box-sizing: inherit; vertical-align: inherit;"> won the </span></span><span style="box-sizing: inherit; font-weight: bolder;">second place</span><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;"> . </span><span style="box-sizing: inherit; vertical-align: inherit;">CryptoPunks is a pixel avatar launched by the Larva Labs team in June 2017 (see the picture below), and each avatar represents an NFT token. </span><span style="box-sizing: inherit; vertical-align: inherit;">In the past few months, people's overall </span></span><span style="box-sizing: inherit; font-weight: bolder;">interest</span><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;"> in this encrypted collectible </span><span style="box-sizing: inherit; font-weight: bolder;"><span style="box-sizing: inherit; vertical-align: inherit;">has greatly increased</span></span><span style="box-sizing: inherit; vertical-align: inherit;"> .</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><img alt="Overview of DApp development in the first quarter: Binance Smart Chain became the biggest dark horse, and NFT grew rapidly" loading="lazy" src="https://web.archive.org/web/20210406111600im_/https://img.chainnews.com/material/images/2937c87b2ae9c07299e24a11703d82be.jpg-article" style="border: 0px; box-sizing: inherit; display: block; height: auto; margin: 1rem auto; max-width: 100%;" /><em style="box-sizing: inherit; color: #737373; display: inline-block; font-size: 0.7rem; text-align: center; width: 688px;"><span style="box-sizing: inherit; vertical-align: inherit;">CryptoPunks pixel avatar</span></em></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">Finally, the third place in NFT transaction volume is </span><span style="box-sizing: inherit; font-weight: bolder;">OpenSea</span><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;"> . </span><span style="box-sizing: inherit; vertical-align: inherit;">OpenSea is an NFT creation and trading market. The increase in NFT trading volume in this market is mainly </span></span><span style="box-sizing: inherit; font-weight: bolder;">driven by new features</span><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;"> , such as NFT casting and airdrops. </span><span style="box-sizing: inherit; vertical-align: inherit;">In addition, after OpenSea recently announced the successful completion of a round of financing, users' interest in NFTs on the platform has greatly increased.</span></span></p><h3 id="nft" style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 22px; line-height: 1.5; margin-bottom: 1.2rem; margin-top: 0.4rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">High prices make NFT more exciting</span></h3><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">The prices of the top 5 NFTs are </span><span style="box-sizing: inherit; font-weight: bolder;">also increasing sharply</span><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;"> . </span><span style="box-sizing: inherit; vertical-align: inherit;">If you look at the top 5 NFTs sold in January this year, you will find that no NFT sells for more than $1 million. </span><span style="box-sizing: inherit; vertical-align: inherit;">However, the highest NFT selling prices in February and March exceeded US$6.6 million and US$69 million, respectively, demonstrating the true potential of NFTs.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">On March 11, the 5,000 art collection "Everydays: The First 5000 Days" created by artist Beeple was sold in the form of NFT tokens at Christie's for a bid of more than $69 million.</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">In addition, </span><span style="box-sizing: inherit; vertical-align: inherit;">the sales of </span></span><span style="box-sizing: inherit; font-weight: bolder;">CryptoPunks</span><span style="box-sizing: inherit; vertical-align: inherit;"> have also exploded, and several punk avatars have been purchased for more than 7 million U.S. dollars.</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">The following chart lists the </span><span style="box-sizing: inherit; font-weight: bolder;">top five</span><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;"> NFT tokens </span><span style="box-sizing: inherit; vertical-align: inherit;">sold each month in the first three months of this year </span><span style="box-sizing: inherit; vertical-align: inherit;">:</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><img alt="Overview of DApp development in the first quarter: Binance Smart Chain became the biggest dark horse, and NFT grew rapidly" loading="lazy" src="https://web.archive.org/web/20210406111600im_/https://img.chainnews.com/material/images/c3c275f08086e787f0141b67937ebbad.jpg-article" style="border: 0px; box-sizing: inherit; display: block; height: auto; margin: 1rem auto; max-width: 100%;" /><em style="box-sizing: inherit; color: #737373; display: inline-block; font-size: 0.7rem; text-align: center; width: 688px;"><span style="box-sizing: inherit; vertical-align: inherit;">Source: DAppRadar NFTs page</span></em></p><h3 id="2021-q1-nft" style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 22px; line-height: 1.5; margin-bottom: 1.2rem; margin-top: 0.4rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">New NFT projects in Q1 2021</span></h3><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; font-weight: bolder;">A large number of new NFT projects will emerge in Q1 of 2021</span><span style="box-sizing: inherit; vertical-align: inherit;"> .</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">The trend of NFT digital collectibles has been going on for a long time, but </span><span style="box-sizing: inherit; vertical-align: inherit;">the release of the </span><span style="box-sizing: inherit; vertical-align: inherit;">encrypted art collectible project </span></span><span style="box-sizing: inherit; font-weight: bolder;">Hashmasks</span><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;"> (Picasso Punk) has become the beginning of a new wave. </span><span style="box-sizing: inherit; vertical-align: inherit;">Later, there </span><span style="box-sizing: inherit; vertical-align: inherit;">were new NFT projects such as </span></span><span style="box-sizing: inherit; font-weight: bolder;">Picasso Punks</span><span style="box-sizing: inherit; vertical-align: inherit;"> , </span><span style="box-sizing: inherit; font-weight: bolder;">Polkamon</span><span style="box-sizing: inherit; vertical-align: inherit;"> , </span><span style="box-sizing: inherit; font-weight: bolder;">Chubbies</span><span style="box-sizing: inherit; vertical-align: inherit;"> , </span><span style="box-sizing: inherit; font-weight: bolder;">Bullrun Babes</span><span style="box-sizing: inherit; vertical-align: inherit;"> , </span><span style="box-sizing: inherit; font-weight: bolder;">NFT Boxes</span><span style="box-sizing: inherit; vertical-align: inherit;"> , and old projects such as Moon Cats Rescue and CryptoCats were rediscovered.</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; font-weight: bolder;">The launch of new projects has excited the NFT market</span><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;"> . </span><span style="box-sizing: inherit; vertical-align: inherit;">During this time, </span></span><span style="box-sizing: inherit; font-weight: bolder;">Hashmasks held their ground</span><span style="box-sizing: inherit; vertical-align: inherit;"> , and Moon Cats Rescue seemed to have declined.</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">Hashmask is literally translated as "Hash Mask". The platform contains 16,384 unique portraits created by more than 70 artists around the world. Each portrait is sold in the form of NFT, as shown in the figure below:</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><img alt="Overview of DApp development in the first quarter: Binance Smart Chain became the biggest dark horse, and NFT grew rapidly" loading="lazy" src="https://web.archive.org/web/20210406111600im_/https://img.chainnews.com/material/images/e5611a2d05e7f6ee470332d2566a97aa.jpg-article" style="border: 0px; box-sizing: inherit; display: block; height: auto; margin: 1rem auto; max-width: 100%;" /><em style="box-sizing: inherit; color: #737373; display: inline-block; font-size: 0.7rem; text-align: center; width: 688px;"><span style="box-sizing: inherit; vertical-align: inherit;">Above: Some of the portraits on the Hashmask platform.</span></em></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">At the same time, </span><span style="box-sizing: inherit; font-weight: bolder;">Picasso Punks</span><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;"> seems to continue to grow. </span><span style="box-sizing: inherit; vertical-align: inherit;">PicassoPunks is an Ethereum-based NFT digital art project aimed at paying tribute to Picasso. The platform will only create a total of 1,000 unique </span></span><span style="box-sizing: inherit; font-weight: bolder;">Picasso punk avatars</span><span style="box-sizing: inherit; vertical-align: inherit;"> . Some of the avatars that have been created are currently being sold in the form of NFT, as shown in the figure below. :</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><img alt="Overview of DApp development in the first quarter: Binance Smart Chain became the biggest dark horse, and NFT grew rapidly" loading="lazy" src="https://web.archive.org/web/20210406111600im_/https://img.chainnews.com/material/images/c4a277a526c0c30d25da6f499f769326.jpg-article" style="border: 0px; box-sizing: inherit; display: block; height: auto; margin: 1rem auto; max-width: 100%;" /><em style="box-sizing: inherit; color: #737373; display: inline-block; font-size: 0.7rem; text-align: center; width: 688px;"><span style="box-sizing: inherit; vertical-align: inherit;">Above: Picasso Punks avatar for sale on the Picasso Punks platform</span></em></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">On the other hand, the vast majority of new NFT projects have a model, which is </span><span style="box-sizing: inherit; font-weight: bolder;">to usher in more transaction volume within 7 days after launch</span><span style="box-sizing: inherit; vertical-align: inherit;"> . </span><span style="box-sizing: inherit; font-weight: bolder;">After that, trading activities declined or even disappeared</span><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;"> , </span><span style="box-sizing: inherit; font-weight: bolder;"><span style="box-sizing: inherit; vertical-align: inherit;">and trading activities in the</span></span><span style="box-sizing: inherit; vertical-align: inherit;"> secondary market will only last for a short time. </span><span style="box-sizing: inherit; vertical-align: inherit;">See below:</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><img alt="Overview of DApp development in the first quarter: Binance Smart Chain became the biggest dark horse, and NFT grew rapidly" loading="lazy" src="https://web.archive.org/web/20210406111600im_/https://img.chainnews.com/material/images/35bb31e8b19c7097a3e996271f5538e6.jpg-article" style="border: 0px; box-sizing: inherit; display: block; height: auto; margin: 1rem auto; max-width: 100%;" /><em style="box-sizing: inherit; color: #737373; display: inline-block; font-size: 0.7rem; text-align: center; width: 688px;"><span style="box-sizing: inherit; vertical-align: inherit;">Source: Opensea.io</span></em></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">The reason behind this is that the creators of these NFT collections focused on initial dissemination. </span><span style="box-sizing: inherit; vertical-align: inherit;">It can be said that the most important factor to keep NFT collections receiving people's attention and interest is the </span></span><span style="box-sizing: inherit; font-weight: bolder;">uniqueness, investment value</span><span style="box-sizing: inherit; vertical-align: inherit;"> , and most importantly, the narrative that can keep users engaged.</span></p><h3 id="nft-nft" style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 22px; line-height: 1.5; margin-bottom: 1.2rem; margin-top: 0.4rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">Inspired by existing NFT collections, new NFT collections emerge</span></h3><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">Another trend in the </span><span style="box-sizing: inherit; font-weight: bolder;">market</span><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;"> is that the </span><span style="box-sizing: inherit; font-weight: bolder;"><span style="box-sizing: inherit; vertical-align: inherit;">NFT market is being inspired by the existing collections of NFTs</span></span><span style="box-sizing: inherit; vertical-align: inherit;"> , trying to introduce new NFTs, such as creating </span></span><span style="box-sizing: inherit; font-weight: bolder;">alternatives to CryptoPunks</span><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;"> . </span><span style="box-sizing: inherit; vertical-align: inherit;">Since the cheapest NFT punk avatar in CryptoPunks costs about $30,000, this is almost unreasonable for ordinary collectors.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">And </span><span style="box-sizing: inherit; font-weight: bolder;">3DPunks</span><span style="box-sizing: inherit; vertical-align: inherit;"> , </span><span style="box-sizing: inherit; font-weight: bolder;">Picasso Punks</span><span style="box-sizing: inherit; vertical-align: inherit;"> and </span><span style="box-sizing: inherit; font-weight: bolder;">Unofficial Punks</span><span style="box-sizing: inherit; vertical-align: inherit;"> these CryptoPunks inspired by the NFT project proposal </span><span style="box-sizing: inherit; font-weight: bolder;">for a cheaper option</span><span style="box-sizing: inherit; vertical-align: inherit;"> .</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">Although some Picasso Punks (Picasso punk avatars) are currently sold at a </span><span style="box-sizing: inherit; font-weight: bolder;">considerable price</span><span style="box-sizing: inherit; vertical-align: inherit;"> , for example, the current highest transaction price is Picasso Punk #0107, which has a transaction price of more than 92,000 US dollars.</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><img alt="Overview of DApp development in the first quarter: Binance Smart Chain became the biggest dark horse, and NFT grew rapidly" loading="lazy" src="https://web.archive.org/web/20210406111600im_/https://img.chainnews.com/material/images/c18c6aabebc452a13a4351c659a94c7e.jpg-article" style="border: 0px; box-sizing: inherit; display: block; height: auto; margin: 1rem auto; max-width: 100%;" /><em style="box-sizing: inherit; color: #737373; display: inline-block; font-size: 0.7rem; text-align: center; width: 688px;"><span style="box-sizing: inherit; vertical-align: inherit;">Source: DAppRadar NFT Rankings</span></em></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">Currently, the lowest prices of NFT avatars on Picasso Punks and 3DPunks are currently around 1.9 ETH and 2.9 ETH. These investments are not cheap. </span><span style="box-sizing: inherit; vertical-align: inherit;">However, </span></span><span style="box-sizing: inherit; font-weight: bolder;">they are still 8 to 10 times cheaper than CryptoPunks</span><span style="box-sizing: inherit; vertical-align: inherit;"> .</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><img alt="Overview of DApp development in the first quarter: Binance Smart Chain became the biggest dark horse, and NFT grew rapidly" loading="lazy" src="https://web.archive.org/web/20210406111600im_/https://img.chainnews.com/material/images/57f3cdc41355cda2c93974e255873b54.jpg-article" style="border: 0px; box-sizing: inherit; display: block; height: auto; margin: 1rem auto; max-width: 100%;" /><em style="box-sizing: inherit; color: #737373; display: inline-block; font-size: 0.7rem; text-align: center; width: 688px;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">Above: Picasso Punks #0245 (left) and 3DPunks #054 (right) are not cheap. </span><span style="box-sizing: inherit; vertical-align: inherit;">Source: OpenSea.io</span></span></em></p><h3 id="nft_1" style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 22px; line-height: 1.5; margin-bottom: 1.2rem; margin-top: 0.4rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">"Everything can be NFT", or a lesson to be learned?</span></h3><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">Finally, </span><span style="box-sizing: inherit; font-weight: bolder;">we are seeing a trend that is to turn everything into NFT, thinking that "everything can be NFT"</span><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;"> . </span><span style="box-sizing: inherit; vertical-align: inherit;">Currently, turning a certain tweet (for example, Twitter CEO Jack Dorsey recently sold his first tweet for a high price of US$2.9 million in the form of NFT), brand or celebrity into NFT may bring User excitement, but </span></span><span style="box-sizing: inherit; font-weight: bolder;">there may also be unhealthy hype in the industry</span><span style="box-sizing: inherit; vertical-align: inherit;"> .</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">We can't help asking, what will be left when the dust settles? </span><span style="box-sizing: inherit; font-weight: bolder;">The NFT industry needs to learn the lessons of the 2017 ICO</span><span style="box-sizing: inherit; vertical-align: inherit;"> (Initial Coin Offering) </span><span style="box-sizing: inherit; font-weight: bolder;">bubble,</span><span style="box-sizing: inherit; vertical-align: inherit;"> and buyers </span><span style="box-sizing: inherit; font-weight: bolder;">should be cautious</span><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;"> before deciding to buy an NFT token driven only by hype </span><span style="box-sizing: inherit; vertical-align: inherit;">.</span></span></p><h3 id="_4" style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 22px; line-height: 1.5; margin-bottom: 1.2rem; margin-top: 0.4rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">The road to the future</span></h3><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">Currently, several major trends are dominating the blockchain industry:</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; font-weight: bolder;">First, Ethereum's scalability issues have caused it to lose its dominant position in several key indicators</span><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;"> . </span><span style="box-sizing: inherit; vertical-align: inherit;">In the first quarter of this year, BSC (Binance Smart Chain) surpassed the Ethereum blockchain in terms of the number of daily active unique addresses; although the Ethereum DeFi application maintained its leading position in TVL (total value of lock-ups), with some Ethereum The Fang DeFi project has begun to expand to other blockchain platforms, and the rapid growth of DeFi DApps in the BSC ecosystem may also change this situation.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; font-weight: bolder;">Secondly, it is clear that the blockchain industry is experiencing a wave of growth led by NFT</span><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;"> . </span><span style="box-sizing: inherit; vertical-align: inherit;">Sales of NFT digital collectibles and new NFT projects promote the influx of users and the growth of NFT trading activities. </span><span style="box-sizing: inherit; vertical-align: inherit;">However, rapid growth has also brought negative effects. </span><span style="box-sizing: inherit; vertical-align: inherit;">The concept of "NFT for everything" may trigger some hype in the early stages, but we need to be cautious about such hype.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">In addition, NBA Top Shots has become the most popular NFT project on the market, but this also raises a question: </span><span style="box-sizing: inherit; font-weight: bolder;">Are DApps ready for mass adoption? </span><span style="box-sizing: inherit; vertical-align: inherit;">Looking to the future, developers need to emphasize </span><span style="box-sizing: inherit; font-weight: bolder;">user retention</span><span style="box-sizing: inherit; vertical-align: inherit;"> and </span><span style="box-sizing: inherit; font-weight: bolder;">user experience</span><span style="box-sizing: inherit; vertical-align: inherit;"> , so that consumers, users, and enthusiasts can expect more on this basis.</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; outline: 0px; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">The above is the DApps industry report for the first quarter of 2021 released by DAppRadar. </span><span style="box-sizing: inherit; vertical-align: inherit;">How do you see the development of Q1 in 2021? </span><span style="box-sizing: inherit; vertical-align: inherit;">Do you agree with DAppRadar's analysis of the competition between Ethereum and BSC? </span><span style="box-sizing: inherit; vertical-align: inherit;">Welcome to express your opinion in the comment area.</span></span></p>Nischal Lal Shresthahttp://www.blogger.com/profile/05625422095651611201noreply@blogger.com0tag:blogger.com,1999:blog-8831307421570903483.post-26769084421724267772021-11-26T20:12:00.002-08:002021-11-26T20:12:30.702-08:00Who created the miracle of NFT prosperity? NFT prosperity stems from the influx of funds, and the deeper level is its protection of digital property rights and human needs.<p> </p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/a/AVvXsEgBEJg6npDMIoZFlabQpmlSFlUFm4IB75aO1gqHFfUNXEqI0y2yz3n_YP18teLMZEC5ULK7GzrnOR0v5ptSNSpS9dyoZjxno4pn6IhHQEK4GmT2BuJDUhzJIiwSodiFNxGfjZq0OqYERSiHfKOt37MldWVWQAhvppMqZ_Azl2UvSRYkKzf8uLUHqU57=s1280" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="1280" data-original-width="1020" height="640" src="https://blogger.googleusercontent.com/img/a/AVvXsEgBEJg6npDMIoZFlabQpmlSFlUFm4IB75aO1gqHFfUNXEqI0y2yz3n_YP18teLMZEC5ULK7GzrnOR0v5ptSNSpS9dyoZjxno4pn6IhHQEK4GmT2BuJDUhzJIiwSodiFNxGfjZq0OqYERSiHfKOt37MldWVWQAhvppMqZ_Azl2UvSRYkKzf8uLUHqU57=w510-h640" width="510" /></a></div><br /><p></p><h3 id="nft" style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 22px; line-height: 1.5; margin-bottom: 1.2rem; margin-top: 0.4rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">What is NFT?</span></h3><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">To understand what an NFT is, one needs to understand the current standards for token development in the blockchain industry. </span><span style="box-sizing: inherit; vertical-align: inherit;">We all know that </span></span><span class="project-highlight" id="project-ethereum" style="box-sizing: inherit; cursor: pointer; font-weight: 700; margin: 0px 0.1em; position: relative;" tabindex="0"><span style="border-bottom: 0.05rem solid rgb(239, 239, 239); box-sizing: inherit; padding-bottom: 0.1rem;"><span style="box-sizing: inherit; vertical-align: inherit;">Ethereum</span></span></span><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;"> can issue tokens. </span><span style="box-sizing: inherit; vertical-align: inherit;">From a technical point of view, these tokens can be divided into the following two types:</span></span></p><ul style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; list-style-image: initial; list-style-position: inside; margin: 1.6rem 0px 1.6rem 1.6rem; padding: 0px; text-align: justify;"><li style="box-sizing: inherit; margin-top: 0.4rem;"><span style="box-sizing: inherit; font-weight: bolder;">Homogeneous tokens (Fungible Token, FT)</span><span style="box-sizing: inherit; vertical-align: inherit;"> : also known as interchangeable tokens, mainly produced by the ERC-20 standard, each token can be exchanged at will, split and integrated;</span></li><li style="box-sizing: inherit; margin-top: 0.4rem;"><span style="box-sizing: inherit; font-weight: bolder;">Non-Fungible Token (NFT)</span><span style="box-sizing: inherit; vertical-align: inherit;"> : also known as non-fungible tokens, mainly produced by the ERC-721 standard, with a minimum unit of 1, which cannot be split or substituted for each other;</span></li></ul><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><img alt="OKEx Research Institute: Who created the miracle of NFT prosperity?" loading="lazy" src="https://web.archive.org/web/20210409102442im_/https://img.chainnews.com/material/images/8c29b8046fa056f7a0542f09f29fd833.png-article" style="border: 0px; box-sizing: inherit; display: block; height: auto; margin: 1rem auto; max-width: 100%;" /><em style="box-sizing: inherit; color: #737373; display: inline-block; font-size: 0.7rem; text-align: center; width: 688px;"><span style="box-sizing: inherit; vertical-align: inherit;">Table 1. The difference between various token standards, data source: OKEx Research Institute</span></em></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">For those outside the blockchain industry, NFT is still a novelty. </span><span style="box-sizing: inherit; vertical-align: inherit;">But in fact, NFT has appeared very early --- the crypto cat game on Ethereum at the end of 2017. </span><span style="box-sizing: inherit; vertical-align: inherit;">In this game, each crypto cat is a unique breed, and there is no exactly the same cat. </span><span style="box-sizing: inherit; vertical-align: inherit;">After users buy a crypto kit with Ether, they can obtain exclusive ownership and cannot be copied, taken or destroyed. </span><span style="box-sizing: inherit; vertical-align: inherit;">At that time, this game was all the rage after it was launched, which once caused the blockage of the Ethereum network.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><img alt="OKEx Research Institute: Who created the miracle of NFT prosperity?" loading="lazy" src="https://web.archive.org/web/20210409102442im_/https://img.chainnews.com/material/images/2b84450e114f5f2fbdded5e7d787a1b5_NxetF52.png-article" style="border: 0px; box-sizing: inherit; display: block; height: auto; margin: 1rem auto; max-width: 100%;" /><em style="box-sizing: inherit; color: #737373; display: inline-block; font-size: 0.7rem; text-align: center; width: 688px;"><span style="box-sizing: inherit; vertical-align: inherit;">Figure 2. Screenshot of the official website of CryptoMall</span></em></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">Although NFT and FT are defined as non-homogeneous tokens and homogenous tokens, it is more vivid to distinguish between the two by "standardized" and "non-standardized".</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">The so-called "standardization" is just like industrial streamlined products, the products are homogeneous. </span><span style="box-sizing: inherit; vertical-align: inherit;">For example, the common consumer goods and toys in the market are all made with uniform standard molds, and their quality and characteristics are the same; while "non-standard" is like an independent store, pursuing high quality and individualization. , According to customer requirements for "private customization", all customized products are unique and are tailor-made products for high net worth customers. </span><span style="box-sizing: inherit; vertical-align: inherit;">Therefore, NFT is widely used in fields such as artworks, domain names, and collectibles.</span></span></p><h3 id="nft_1" style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 22px; line-height: 1.5; margin-bottom: 1.2rem; margin-top: 0.4rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">Who created the prosperity miracle of NFT?</span></h3><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">With the complete rollout of NFT at the beginning of 2021, the NFT market began to grow rapidly. The previous five NFT platforms (NBA TOP Shot, OpenSea, CryPtoPunks, Raible, Sorare) as an example, since January 2021, the number of daily active users of the major platforms , Average daily trading volume (USD) exploded exponentially.</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><img alt="OKEx Research Institute: Who created the miracle of NFT prosperity?" loading="lazy" src="https://web.archive.org/web/20210409102442im_/https://img.chainnews.com/material/images/515828e6ea455e2ea046c7f52e787c0f.png-article" style="border: 0px; box-sizing: inherit; display: block; height: auto; margin: 1rem auto; max-width: 100%;" /><em style="box-sizing: inherit; color: #737373; display: inline-block; font-size: 0.7rem; text-align: center; width: 688px;"><span style="box-sizing: inherit; vertical-align: inherit;">Figure 3. Changes in the number of daily active users in the NFT market in the past 8 months (a)</span></em></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><img alt="OKEx Research Institute: Who created the miracle of NFT prosperity?" loading="lazy" src="https://web.archive.org/web/20210409102442im_/https://img.chainnews.com/material/images/3dab8f2418c9572aa7c4da02020dcbfa.png-article" style="border: 0px; box-sizing: inherit; display: block; height: auto; margin: 1rem auto; max-width: 100%;" /><em style="box-sizing: inherit; color: #737373; display: inline-block; font-size: 0.7rem; text-align: center; width: 688px;"><span style="box-sizing: inherit; vertical-align: inherit;">Figure 4. The average daily trading volume of the NFT market in the past 8 months (USD), source: OKEx Research Institute, DappRadar</span></em></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">Many people are surprised by the sudden rise of NFT, thinking that behind its prosperity miracle is nothing more than capital hype. </span><span style="box-sizing: inherit; vertical-align: inherit;">Objectively speaking, there has indeed been a clear bubble in the current NFT market, but is this the whole story?</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">Before the advent of digital art, all artworks existed in physical form. </span><span style="box-sizing: inherit; vertical-align: inherit;">Our ownership of a physical artwork means that we have the right to possess, use, profit and dispose of this artwork. We can hang it in the bedroom, exhibit it to the outside world, or even sell it to others; this This right is absolute, exclusive and lasting.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">However, in the era of the digital economy, all this has changed: digital art does not exist in the form of physical objects, how do we reflect the exclusive possession of it? </span><span style="box-sizing: inherit; vertical-align: inherit;">Anyone can copy and use it indiscriminately. How can we ensure that our sanctions and the right to profit from digital art are not infringed?</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">So what can NFT bring to digital art? </span><span style="box-sizing: inherit; vertical-align: inherit;">---Perfect proof of property rights!</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">The modern property rights theory of the new institutional economics tells us: a market with efficient resource allocation, its property rights must be clear, exclusive, transferable, and operable. </span><span style="box-sizing: inherit; vertical-align: inherit;">The NFT in the digital economy era meets all the above characteristics: NFT provides a unique copyright certificate for the majority of creators’ works. Although it is still presented in electronic form, it is different from other copies. Owning NFT also has Excluding possession rights effectively protects creators’ copyrights; NFT's convenient and quick circulation and transfer on the blockchain network, and convenient practical operation, can sell these works at the most appropriate price, which inspires creative enthusiasm.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">With the deepening of the digital economy today, it is not so surprising that the sudden outbreak of NFTs is surprising, but why we have not had NFTs to protect our digital property rights until today. </span><span style="box-sizing: inherit; vertical-align: inherit;">So we can see that more and more artists are trying to create works in the form of NFT, and this day has been too late.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">Of course, we will also find that behind the rise of NFT, there are many people in the "coin circle". </span><span style="box-sizing: inherit; vertical-align: inherit;">This is another main reason why NFT is performing the current prosperity miracle.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">This time, the Indian buyer Metakovan, the buyer who bought Beetle's works at a price of nearly 70 million US dollars, is the founder of the NFT fund Metapurse. He is a veteran in the field of encrypted digital currency; and at the second highest price, he bid 60 million US dollars. Like a buyer who took a picture of Beeple, everyone may be more familiar with it---the founder of TRON Justin Sun.</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">What’s more interesting is that after a domestic self-media writer wrote an article about NFT, people in the currency circle collectively ran to watch, and their behavior was also very peculiar---do not leave a message, do not like, do not follow, click on praise Make a sum of money and turn around and leave. </span><span style="box-sizing: inherit; vertical-align: inherit;">This made this self-media writer confused and bluntly said, "I hope that the related personnel of film companies and publishing houses can find the gap between themselves and the people in the currency circle."</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">As mentioned in the previous article, NFT actually appeared as early as three years ago. The so-called NFT application is by no means as narrow as marking a picture or image. </span><span style="box-sizing: inherit; vertical-align: inherit;">While outsiders are still curious and surprised about NFT, the so-called "coin circles" or blockchain practitioners are already thinking about how to use NFT in a broader field.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">Then why are people in the currency circle willing to "watch" and even spend real money to promote the prosperity of this market?</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">In Maslow's hierarchy of needs theory, human needs are divided into five levels: physiological needs, safety needs, belonging and love, respect needs, and self-realization; and needs are formed and satisfied from low to high. </span><span style="box-sizing: inherit; vertical-align: inherit;">Due to the continuous chaos in the "coin circle" and many objective factors, the "coin circle" has been repeatedly stigmatized in recent years. However, it is undeniable that after nearly ten years of development, the society has already There has been a group of new rich people who started with encrypted digital currencies. </span><span style="box-sizing: inherit; vertical-align: inherit;">This is similar to the new wealthy group that emerged from the Internet twenty years ago.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><img alt="OKEx Research Institute: Who created the miracle of NFT prosperity?" loading="lazy" src="https://web.archive.org/web/20210409102442im_/https://img.chainnews.com/material/images/8f2cec21d232541e8aa173f8d0895428_ydtwiRn.png-article" style="border: 0px; box-sizing: inherit; display: block; height: auto; margin: 1rem auto; max-width: 100%;" /></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">For the many upstarts in the encrypted digital currency industry, the lack of needs such as physiological needs and security needs have been met, but they have not been respected. </span><span style="box-sizing: inherit; vertical-align: inherit;">The need for respect includes not only the personal feeling of achievement or self-worth, but also the recognition and respect of others for oneself.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">Although blockchain technology has gradually received attention from various countries in recent years, practitioners in the blockchain industry and "coin circles" have not truly gained social recognition and respect. </span><span style="box-sizing: inherit; vertical-align: inherit;">It can be said that in the past few years, "coin circle people" and blockchain practitioners have been frustrated. </span><span style="box-sizing: inherit; vertical-align: inherit;">Therefore, when the NFT is starting to go out of the circle and attract the attention of the world, the "coin circle people" are also willing to spend money to watch and shout for it. </span><span style="box-sizing: inherit; vertical-align: inherit;">This is a touch of being recognized for being engaged in the industry, and it comes from the release after the need for respect is met.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">Of course, this is also mixed with some "coin circles" who want to use NFT speculation as their own profit-making attempt. </span><span style="box-sizing: inherit; vertical-align: inherit;">Just like Metakovan, who bought the paintings of Beeple above, he is also the issuer of Art Index Fund B.20. </span><span style="box-sizing: inherit; vertical-align: inherit;">The operating model of the B.20 index fund is to use 20 works of Beeple as the underlying assets, and then issue fund shares. </span><span style="box-sizing: inherit; vertical-align: inherit;">The auction of Beep's works directly raised the overall valuation of the B.20 fund; this is like Zhao Danyang, who bought Buffett’s lunch for $2 million more than ten years ago, and recommended his heavy stock to the other party during lunch. , Directly make its book profit tens of millions of dollars.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">Although NFT does bring new opportunities for digital art, at the same time, a large amount of money has begun to flow into the NFT market, and NFT works have also risen, and a large number of inferior art works have begun to appear and sold in the form of NFT. The market is more crazy than In addition to the imagination of the artists, criticisms of digital art followed one after another. </span><span style="box-sizing: inherit; vertical-align: inherit;">What’s interesting is that when Beeple, the biggest beneficiary of the current NFT, received the payment in Ether (ETH) after the auction ended, he immediately exchanged all Ether (ETH) for U.S. dollars; and said bluntly, "I I am not a pure cryptocurrency. I have been engaged in digital art creation a long time ago. If all these NFT things disappear tomorrow, I will still be engaged in digital art creation.” This remark directly made many NF fans think that NFT has suffered. It's Beeple's betrayal.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">Did the NFT accidentally hurt the art, or did the art accidentally hurt the NFT?</span></p>Nischal Lal Shresthahttp://www.blogger.com/profile/05625422095651611201noreply@blogger.com0tag:blogger.com,1999:blog-8831307421570903483.post-19470485477501242852021-11-26T20:10:00.000-08:002021-11-26T20:10:08.810-08:00If Tesla is to be tokenized in the future, what kind of process should it be? After a few years, Tesla + NFT + DeFi =?<div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/a/AVvXsEjXrfO-9LbPXZib2UFVxyW6XQ3Gt2TsbXsEIrwBYJxKua83eFdw97hCobCZNCHKGZPvulkJMu_mueEh6zPyN-qOruTyazZF2u_JSKn_UD8NXjXDfSZUpjBsMR4Mer3rcn-sjCIQpcuI7cpLfwUajf96bdzDJno4vHo61MfTNEoj3-h-Ok4vgD_0nGdx=s1434" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="955" data-original-width="1434" height="426" src="https://blogger.googleusercontent.com/img/a/AVvXsEjXrfO-9LbPXZib2UFVxyW6XQ3Gt2TsbXsEIrwBYJxKua83eFdw97hCobCZNCHKGZPvulkJMu_mueEh6zPyN-qOruTyazZF2u_JSKn_UD8NXjXDfSZUpjBsMR4Mer3rcn-sjCIQpcuI7cpLfwUajf96bdzDJno4vHo61MfTNEoj3-h-Ok4vgD_0nGdx=w640-h426" width="640" /></a></div><br /><p><br /></p><h3 id="_1" style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 22px; line-height: 1.5; margin-bottom: 1.2rem; margin-top: 0.4rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">The first step is to estimate the price of the vehicle</span></h3><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">The price evaluation of a vehicle is already a very mature system. Existing dealers have a mature database. Enter the vehicle id (VIN) to know the specific model, age, whether it has been overhauled, etc. Important valuation basis. </span><span style="box-sizing: inherit; vertical-align: inherit;">The actual situation of the inspection can be completed by a very simple algorithm. As long as the fixed position is photographed and scanned, the existing machine learning model can easily determine the paint and interior conditions, and verify the authenticity of the vehicle. Proceed to verification. </span><span style="box-sizing: inherit; vertical-align: inherit;">If Tesla releases the permission of the internal sensor core of the vehicle to the valuation tool, it will be able to better read the operating status of the machine and accurately determine the value of the vehicle. </span><span style="box-sizing: inherit; vertical-align: inherit;">Assuming that after a year, Tesla is still the number one new energy vehicle sold in the market, and the market is very transparent, then this valuation model can be very accurate.</span></span></p><h3 id="nft" style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 22px; line-height: 1.5; margin-bottom: 1.2rem; margin-top: 0.4rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">The second step is to turn the car into NFT</span></h3><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">This requires tokenization of the ownership and control of the vehicle. As long as Tesla is willing to open up access, it is very easy. </span><span style="box-sizing: inherit; vertical-align: inherit;">Record the evaluated vehicle information (asset information) into a token. This NFT token represents the ownership of the vehicle. The transfer of the token is equivalent to the transfer of ownership of the vehicle. Each token is equivalent to the exclusive ownership of the vehicle. A key. </span><span style="box-sizing: inherit; vertical-align: inherit;">After the token is transferred, the original owner loses the ownership of the vehicle, and the new owner obtains the key to the vehicle.</span></span></p><h3 id="_2" style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 22px; line-height: 1.5; margin-bottom: 1.2rem; margin-top: 0.4rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">The third step, vehicle pricing, trading, mortgage and investment</span></h3><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">Imagine that OpenSea or other NFT trading platforms 10 years from now already support Tesla’s NFT trading. At this time, there are two options for the owner. One can directly trade. With the sale of NFTs, Ownership is directly transferred, the owner gets the capital, and the buyer gets the NFT, the vehicle can automatically drive to the buyer's shop, and activate it with the token in the digital currency wallet.</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">On the other hand, the owner can also mortgage the NFT of the vehicle, provided that the DAO agrees to add a certain model in a certain year to the pledged asset category. An NFT corresponds to this standard value example. The owner is in MakerDAO or On other staking lending platforms, staking self-staking NFTs to obtain stablecoins equivalent to US dollars can be used to meet the daily living expenses, and the funds are still owned by the owner, and the assets can be invested in various DeFis Among the interest-bearing assets and transactions, the platform mainly pays an interest on a regular basis, which is equivalent to renting a sub-use right.</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">The most important issue for the pledged lending platform is how to make anticipation to obtain a reasonable asset value, which is neither manipulated by the company nor controlled by the business. It is estimated that there will be a set of tess at that time The price of tesla-u maintained by the centralization exchange, and the price of tesla-u maintained by the decentralized exchange. </span><span style="box-sizing: inherit; vertical-align: inherit;">If with fixed depreciation, the owner does not return the borrowed funds, or the vehicle has a serious accident, the sensor will alarm, and the value of the vehicle will plummet, the ownership of the vehicle will not belong to the owner at all, and the vehicle will drive automatically. Go back to a certain point in the basic meeting and complete the liquidation of the pledge.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">For Tesla’s owner and Tesla, the whole process is actually a mortgage loan without bank, completed the process of creating money, and did not rely on the participation of any central financial institution (except for Tes Pull the enterprise itself), it is almost wear-free and super efficient. </span><span style="box-sizing: inherit; vertical-align: inherit;">In addition to policy reasons, Tesla's support cannot be guaranteed, and the auto-driving part of the journey is also somewhat illusory. The basic technology used in the whole process is already mature, and it may be a matter of time before actual commercial use.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">If the blockchain is to be used on a large scale, it will have a money-making effect first, and the second is that it can be standardized, and it has very simple valuation logic. It is similar to the previous public chains that look at TPS, DeFi, and TVL. The third is Easy to operate. </span><span style="box-sizing: inherit; vertical-align: inherit;">NFT is now focusing on artworks, earning traffic and eyeballs, and meeting short-term money-making effects. However, due to the particularity of artworks, the gap in valuation logic is relatively large, and offline artwork verification and circulation are more complicated. .</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; outline: 0px; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">Personally, I am more optimistic about the NFTization of original digital assets such as game props, domain names, icon designs, etc., and complete currency creation by superimposing DeFi. </span><span style="box-sizing: inherit; vertical-align: inherit;">If we can further introduce asset packages like Tesla's usage rights, the blockchain will really subvert the centralization and integration step by step.</span></span></p>Nischal Lal Shresthahttp://www.blogger.com/profile/05625422095651611201noreply@blogger.com0tag:blogger.com,1999:blog-8831307421570903483.post-65744607421999774612021-11-26T20:06:00.003-08:002021-11-26T20:06:26.832-08:00The official website of Punk.Network, an open smart NFT-friendly public chain, is officially launched<p> <span style="box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; text-align: justify; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">The </span><span style="box-sizing: inherit; vertical-align: inherit;">official website of </span></span><span class="project-highlight" id="project-punk-network" style="box-sizing: inherit; color: #333333; cursor: pointer; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; font-weight: 700; margin: 0px 0.1em; position: relative; text-align: justify;" tabindex="0"><span style="border-bottom: 0.05rem solid rgb(239, 239, 239); box-sizing: inherit; padding-bottom: 0.1rem;"><span style="box-sizing: inherit; vertical-align: inherit;">Punk.Network, an</span></span></span><span style="box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; text-align: justify; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;"> open smart NFT-friendly public chain, </span><span class="project-highlight" id="project-punk-network" style="box-sizing: inherit; cursor: pointer; font-weight: 700; margin: 0px 0.1em; position: relative;" tabindex="0"><span style="border-bottom: 0.05rem solid rgb(239, 239, 239); box-sizing: inherit; padding-bottom: 0.1rem;"><span style="box-sizing: inherit; vertical-align: inherit;">was</span></span></span><span style="box-sizing: inherit; vertical-align: inherit;"> officially launched today.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">Punk.Network is NPoS as a consensus mechanism, based on the adaptation </span><span class="project-highlight" id="project-polkadot" style="box-sizing: inherit; cursor: pointer; font-weight: 700; margin: 0px 0.1em; position: relative;" tabindex="0"><span style="border-bottom: 0.05rem solid rgb(239, 239, 239); box-sizing: inherit; padding-bottom: 0.1rem;"><span style="box-sizing: inherit; vertical-align: inherit;">Boca</span></span></span><span style="box-sizing: inherit; vertical-align: inherit;"> ecological Substrate architecture development can accommodate a wide range of asset types (FT & NFT), open trade and all kinds of intelligent smart NFT-friendly public contracts chain.</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">Punk.Network is committed to linking global DApp developers, NFT investors and creators, providing professional, safe and friendly development, trading, application, community and ecological support. </span><span style="box-sizing: inherit; vertical-align: inherit;">Combined with the highly autonomous DAO system, it will be integrated into a diversified and futuristic electronic cyber ecosystem.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">Official website: </span><a href="https://web.archive.org/web/20210514012038mp_/http://punk.network/" style="background-color: transparent; border-bottom: 0.05rem solid rgb(239, 239, 239); box-sizing: inherit; color: #0056ff; padding-bottom: 0.1rem; text-decoration-line: none;" target="_blank"><span style="box-sizing: inherit; vertical-align: inherit;">http://punk.network</span></a></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"></p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/a/AVvXsEgi8-Zhl4UIz0pNwUHTTvv-7NUJRL2GCDfhwGK0jGB2k-BoaIKFJGV353UFtC9kZo-DQsRXOclD7K3wDJ5aTD-V36aIfBHkTBaBL6GzXHj_RVMtVGa-CD3vYkrarDRD3_HZRe3Bqk2ePYSCp_--ZW6qYVvPD1Kgj3S4wAYjIrAwUrESFSDH9iRzgSfd=s625" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="313" data-original-width="625" height="320" src="https://blogger.googleusercontent.com/img/a/AVvXsEgi8-Zhl4UIz0pNwUHTTvv-7NUJRL2GCDfhwGK0jGB2k-BoaIKFJGV353UFtC9kZo-DQsRXOclD7K3wDJ5aTD-V36aIfBHkTBaBL6GzXHj_RVMtVGa-CD3vYkrarDRD3_HZRe3Bqk2ePYSCp_--ZW6qYVvPD1Kgj3S4wAYjIrAwUrESFSDH9iRzgSfd=w640-h320" width="640" /></a></div><br /><div class="separator" style="clear: both; text-align: center;"><span style="color: rgba(0, 0, 0, 0.9); font-family: "Source Serif Pro", serif; font-size: 20px; text-align: start;">For application users and value discoverers, Punk.Network has a long-term appeal to them and makes them desire to explore. It will also open up the copyright to a certain extent to support outstanding developers. Punk is committed to providing comprehensive asset solutions for the virtual world, providing decentralized issuance, circulation and high-performance technical support for various types of contract for diversified virtual assets to be applied to games, art, and derivative mass scenarios, in combination with the highly autonomous DAO, it will become a diversified and futuristic electronic-cyber ecosystem</span></div><p></p>Nischal Lal Shresthahttp://www.blogger.com/profile/05625422095651611201noreply@blogger.com0tag:blogger.com,1999:blog-8831307421570903483.post-27619852905878826062021-11-26T20:02:00.002-08:002021-11-26T20:03:00.763-08:00A picture to understand: NFT's "surge to red" road<p><span face="-apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif" style="box-sizing: inherit; color: #333333; font-size: 16px; text-align: justify; vertical-align: inherit;"></span></p><div class="separator" style="clear: both; text-align: center;"><span face="-apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif" style="box-sizing: inherit; color: #333333; font-size: 16px; text-align: justify; vertical-align: inherit;"><a href="https://blogger.googleusercontent.com/img/a/AVvXsEgeyTjSOzjTJP2MhRPzmGidcwTNUDVFIdl3B60MD8ALWf22ESaz_TphnIWMz7IbWY0N4UEnGoki_jqXuXuED-JU_xTkfhoIpjcs-Tnmuy67mdHtsfH2qhyfuQHZ7hj8jxgPJepJFDg0QeOJpUJzdsH4ggC77XSPX1FrBhdid7v9R0ZrAhKhcW-ogaYD=s1280" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="1280" data-original-width="1280" height="640" src="https://blogger.googleusercontent.com/img/a/AVvXsEgeyTjSOzjTJP2MhRPzmGidcwTNUDVFIdl3B60MD8ALWf22ESaz_TphnIWMz7IbWY0N4UEnGoki_jqXuXuED-JU_xTkfhoIpjcs-Tnmuy67mdHtsfH2qhyfuQHZ7hj8jxgPJepJFDg0QeOJpUJzdsH4ggC77XSPX1FrBhdid7v9R0ZrAhKhcW-ogaYD=w640-h640" width="640" /></a></span></div><span face="-apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif" style="box-sizing: inherit; color: #333333; font-size: 16px; text-align: justify; vertical-align: inherit;"><br /><span style="box-sizing: inherit; vertical-align: inherit;"><br /></span></span><p></p><p><span face="-apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif" style="box-sizing: inherit; color: #333333; font-size: 16px; text-align: justify; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">NFT has a natural advantage in the copyright protection of creators, and can better motivate creators. It undoubtedly provides a very large imagination space for the field of digital collections, and also provides a convenient touch for creators in various fields. Da’s self-worth realization platform. </span><span style="box-sizing: inherit; vertical-align: inherit;">Since the beginning of this year, the </span><span class="project-highlight" id="project-hashmasks" style="box-sizing: inherit; cursor: pointer; font-weight: 700; margin: 0px 0.1em; position: relative;" tabindex="0"><span style="border-bottom: 0.05rem solid rgb(239, 239, 239); box-sizing: inherit; padding-bottom: 0.1rem;"><span style="box-sizing: inherit; vertical-align: inherit;">popularity</span></span></span><span style="box-sizing: inherit; vertical-align: inherit;"> of NFT projects represented </span><span style="box-sizing: inherit; vertical-align: inherit;">by </span></span><span class="project-highlight" face="-apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif" id="project-nba-top-shot" style="box-sizing: inherit; color: #333333; cursor: pointer; font-size: 16px; font-weight: 700; margin: 0px 0.1em; position: relative; text-align: justify;" tabindex="0"><span style="border-bottom: 0.05rem solid rgb(239, 239, 239); box-sizing: inherit; padding-bottom: 0.1rem;"><span style="box-sizing: inherit; vertical-align: inherit;">NBA Top Shot</span></span></span><span face="-apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif" style="box-sizing: inherit; color: #333333; font-size: 16px; text-align: justify; vertical-align: inherit;"> and </span><span class="project-highlight" face="-apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif" id="project-hashmasks" style="box-sizing: inherit; color: #333333; cursor: pointer; font-size: 16px; font-weight: 700; margin: 0px 0.1em; position: relative; text-align: justify;" tabindex="0"><span style="border-bottom: 0.05rem solid rgb(239, 239, 239); box-sizing: inherit; padding-bottom: 0.1rem;"><span style="box-sizing: inherit; vertical-align: inherit;">Hashmasks</span></span></span><span face="-apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif" style="box-sizing: inherit; color: #333333; font-size: 16px; text-align: justify; vertical-align: inherit;"> has brought a high degree of market attention to the NFT field.</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; outline: 0px; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">Statistics from NonFungible.com show that more than 160,000 NFTs have been sold in the past month. </span><span style="box-sizing: inherit; vertical-align: inherit;">The transaction size of the </span><span style="box-sizing: inherit; vertical-align: inherit;">NFT trading platform </span></span><span class="project-highlight" id="project-opensea" style="box-sizing: inherit; cursor: pointer; font-weight: 700; margin: 0px 0.1em; position: relative;" tabindex="0"><span style="border-bottom: 0.05rem solid rgb(239, 239, 239); box-sizing: inherit; padding-bottom: 0.1rem;"><span style="box-sizing: inherit; vertical-align: inherit;">OpenSea</span></span></span><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;"> has increased by 100 times in the past six months. In just one month of February, the transaction volume on OpenSea It reached 95.2 million US dollars. </span><span style="box-sizing: inherit; vertical-align: inherit;">Variety.com reviewed a series of milestones that witnessed the strong rise of NFT in the past six months:</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; outline: 0px; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;"><br /></span></span></p><div style="background-color: #0b0c10; color: #c5c6c7; font-family: Arimo, sans-serif; font-size: 14px;"><h3 id="2021" style="color: white; font-family: Inconsolata, sans-serif; font-size: 24px;">2021</h3><ul><li style="margin-top: 10px;"><a href="https://burn.art/" style="color: #66fcf1; text-decoration-line: none;">burn.art</a> - Pak's project where you burn NFTs for $ASH</li><li style="margin-top: 10px;"><a href="https://twitter.com/niftygateway/status/1384582644793581571" style="color: #66fcf1; text-decoration-line: none;">Eminem</a> - NFT drop on Nifty Gateway</li><li style="margin-top: 10px;"><a href="https://palm.io/" style="color: #66fcf1; text-decoration-line: none;">"The Currency Project" by Damien Hirst</a> - on Layer 2 solution for ether</li><li style="margin-top: 10px;"><a href="https://decrypt.co/62947/russias-state-hermitage-museum-to-host-nft-art-exhibition?utm_campaign=daily_bundle_template&utm_content=The%20art%20world%20embraces%20NFTs&utm_medium=email&utm_source=sg_email" style="color: #66fcf1; text-decoration-line: none;">Russia’s State Hermitage Museum</a> - to Host NFT Art Exhibition</li><li style="margin-top: 10px;">May 2021 - <a href="https://digitalax.xyz/" style="color: #66fcf1; text-decoration-line: none;">digitalax.xyz</a> - first ever MultiToken Bridge — this includes the ability to move both a Parent 721 token and its Child 1155 material NFT components between Mainnet and Polygon</li><li style="margin-top: 10px;">April 2021 - <a href="https://twitter.com/Mad_Dog_Jones/status/1378013080194576387" style="color: #66fcf1; text-decoration-line: none;">Mad Dog Jones</a> - first "replicator" NFT</li><li style="margin-top: 10px;">April 2021 - <a href="https://www.niftypantone.com/" style="color: #66fcf1; text-decoration-line: none;">Pantone</a> - first Pantone colours on chain NFTs</li><li style="margin-top: 10px;">April 2021 - <a href="https://www.elementum.art/en/artists/" style="color: #66fcf1; text-decoration-line: none;">Elementum</a> - NFT platform</li><li style="margin-top: 10px;">April 2021 - <a href="https://oncyber.io/exhibits/Umu9mPuGzxeZypad0epP" style="color: #66fcf1; text-decoration-line: none;">oncyber.io</a> - 3d gallery NFT platform</li><li style="margin-top: 10px;">April 2021 - <a href="https://lazy.com/" style="color: #66fcf1; text-decoration-line: none;">lazy.com</a> - NFT platform to show off NFTs</li><li style="margin-top: 10px;">April 2021 - <a href="https://cargo.build/" style="color: #66fcf1; text-decoration-line: none;">cargo.build</a> - Cargo uses EIP2981 - a standardized way to handle royalty payments for ERC-721 tokens, including publicly viewable information and notification of payment event</li><li style="margin-top: 10px;">April 2021 - <a href="https://twitter.com/laina622/status/1378511072080982016" style="color: #66fcf1; text-decoration-line: none;">Overly Attached Girlfriend (a bit of internet history)</a> - NFT sells for 400,000 dollars on foundation.app</li><li style="margin-top: 10px;">April 2021 - <a href="https://coopahtroopa.mirror.xyz/A16NP2XXi9RdHptfdF9WHR0Xq_E1XDmUgMwPmJYOG7w" style="color: #66fcf1; text-decoration-line: none;">Blog Post</a> - sold for 3K through Zora - explanation here <a href="https://thedefiant.io/how-i-sold-a-blog-post-for-6k-to-3lau/" style="color: #66fcf1; text-decoration-line: none;">Source 2</a></li><li style="margin-top: 10px;">April 14th 2021 - Pak auction at Sotheby's - first crypto-native collaboration with a major auction house</li><li style="margin-top: 10px;">April 5th 2021 - <a href="https://metavs.art/" style="color: #66fcf1; text-decoration-line: none;">Meta_VS</a> - biggest NFT exhibition ever</li><li style="margin-top: 10px;">April 3rd 2021 - <a href="https://twitter.com/stellabelle/status/1378016904938414085" style="color: #66fcf1; text-decoration-line: none;">Graffiti Queens</a> - biggest all female NFT exhibition ever</li><li style="margin-top: 10px;">April 2021 - Snoop Dog makes an NFT</li><li style="margin-top: 10px;">April 2021 - "Virtual Niche: Have You Ever Seen Memes in the Mirror?" - physical representations of NFTs exhibition by Block Create Art</li><li style="margin-top: 10px;">April 2021 - Olta - new interactive NFT platform - details TBC</li><li style="margin-top: 10px;">March 2021 - John Cleese makes NFT</li><li style="margin-top: 10px;">March 2021 - <a href="https://kalamint.io/" style="color: #66fcf1; text-decoration-line: none;">kalamint.io</a> - NFT marketplace on Tezos</li><li style="margin-top: 10px;">April 2021 - <a href="https://www.hicetnunc.xyz/objkt/20577" style="color: #66fcf1; text-decoration-line: none;">Mike Tyka</a> - first IPFS backup NFT</li><li style="margin-top: 10px;">26th March 2021 - <a href="https://foundation.app/" style="color: #66fcf1; text-decoration-line: none;">New York Times article by Kevin Roose</a> - first NYT NFT sells for 350 eth</li><li style="margin-top: 10px;">25th March 2021 - <a href="https://blockparty.co/" style="color: #66fcf1; text-decoration-line: none;">Blockparty v2</a> - NFT platform luanch</li><li style="margin-top: 10px;">24th March 2021 - <a href="https://superrare.co/artwork-v2/time-is-fiat-dead-21652" style="color: #66fcf1; text-decoration-line: none;">TIME magazine</a> - first TIME cover NFT - 'Is Fiat Money Dead?'</li><li style="margin-top: 10px;">March 2021 - <a href="https://t.co/Q5JSE2mpq9?amp=1" style="color: #66fcf1; text-decoration-line: none;">Mr Doob</a> - first game NFT on the tezos blockchain - <a href="https://twitter.com/SergueiV/status/1381746205538054147" style="color: #66fcf1; text-decoration-line: none;">bug free version</a></li><li style="margin-top: 10px;">March 2021 - <a href="https://twitter.com/quasimondo/status/1381719772627369989" style="color: #66fcf1; text-decoration-line: none;">Lionel Radisson</a> - first interactive NFT on the tezos blockchain</li><li style="margin-top: 10px;">March 2021 - <a href="https://www.hicetnunc.xyz/tz/tz1hb9PiWxQEf6J9xevPsUM6dkuCLnhDMvsp" style="color: #66fcf1; text-decoration-line: none;">Mario Klingemann</a> - famous artist making original interactive NFTs on h=n</li><li style="margin-top: 10px;">March 2021 - <a href="https://www.hicetnunc.xyz/" style="color: #66fcf1; text-decoration-line: none;">Hic et Nunc</a> - decentralised NFT platform on Tezos blockchain - created by Rafael Lima</li><li style="margin-top: 10px;">19th March 2021 - <a href="https://feralfile.com/" style="color: #66fcf1; text-decoration-line: none;">feralfile.com</a> - first type of NFT that hashes artwork with details of collector and artwork???</li><li style="margin-top: 10px;">March ? 2021 - <a href="https://edition.async.art/blog/programmable-music-coming-to-async" style="color: #66fcf1; text-decoration-line: none;">Async Art Music</a></li><li style="margin-top: 10px;">March 2021 - Pak auction announced at Sotherby's</li><li style="margin-top: 10px;">March 2021 - Damien Hirst says he will be making NFTs <a href="https://www.ft.com/content/7469109a-183e-4742-a059-21b48df18104" style="color: #66fcf1; text-decoration-line: none;">Source</a></li><li style="margin-top: 10px;">March 2021 - Elon Musk makes an NFT that is a song about NFTs (not a first but notable)</li><li style="margin-top: 10px;">March 2021 - <a href="https://decrypt.co/61589/digital-nft-home-goes-on-sale-in-world-first?utm_campaign=daily_bundle_template&utm_content=The%20first%20NFT%20art%20heist%3F&utm_medium=email&utm_source=sg_email" style="color: #66fcf1; text-decoration-line: none;">first NFT house</a></li><li style="margin-top: 10px;">March 2021 - <a href="https://www.youtube.com/watch?v=cY9lM73ie0Q&t=1688s" style="color: #66fcf1; text-decoration-line: none;">'The Greatest NFT Film Ever Made'</a> - first NFT film about NFTs</li><li style="margin-top: 10px;">March 2021 - <a href="https://artdaily.com/news/133833/First-NFT-work-registered-to-the-Vastari-exhibition-platform-#.YE28kbT7R_m" style="color: #66fcf1; text-decoration-line: none;">Hackatao: first NFT to be listed on the Vastari platform for Galleries and Museums</a></li><li style="margin-top: 10px;">March 2021 - <a href="https://v.cent.co/tweet/20" style="color: #66fcf1; text-decoration-line: none;">Most expensive NFT Tweet - by Jack Dorsey</a></li><li style="margin-top: 10px;">March 2021 - Beeple artwork resells for 6.6 million</li><li style="margin-top: 10px;">March 2021 - <a href="https://www.christies.com/features/Monumental-collage-by-Beeple-is-first-purely-digital-artwork-NFT-to-come-to-auction-11510-7.aspx" style="color: #66fcf1; text-decoration-line: none;">Beeple Christies Auction - the most expensive NFT $69.3 million sold</a></li><li style="margin-top: 10px;">February 2021 - 3Lau - <a href="https://nft.3lau.com/#/auction" style="color: #66fcf1; text-decoration-line: none;">first music artist albums NFT sells for 11 million</a></li><li style="margin-top: 10px;">February 2021 - FEWOCiOUS, an 18-year old in collab with a virtual sneaker brand RTFKT Studios - sells 3 million dollars worth of sneakers in 7 mins</li><li style="margin-top: 10px;">February 2021 - <a href="https://twitter.com/i/events/1367140499291791360" style="color: #66fcf1; text-decoration-line: none;">Kings of Leon - band album NFT</a> - First NFT album <a href="https://opensea.io/assets/0x495f947276749ce646f68ac8c248420045cb7b5e/65577843718709725647597475672696065348518179342011629558697758562726870777956" style="color: #66fcf1; text-decoration-line: none;">Digital Vinyl by Francis Kneebone</a></li><li style="margin-top: 10px;">February 2021 - <a href="https://paras.id/" style="color: #66fcf1; text-decoration-line: none;">Paras.id</a> - NFTs on near blockchain</li><li style="margin-top: 10px;">February 2021 - <a href="https://murall.art/" style="color: #66fcf1; text-decoration-line: none;">Murall</a> - first collabrative mural NFT platform</li><li style="margin-top: 10px;">Paris Hilton makes an NFT</li><li style="margin-top: 10px;">Linsey Lohan and Mark Cuban mint stuff on <a href="https://rarible.com/" style="color: #66fcf1; text-decoration-line: none;">rarible.com</a></li><li style="margin-top: 10px;">Mark Cuban discovers NFTs</li><li style="margin-top: 10px;">Lady Pheonix (Lady Phe) - introduces NFTs into clubhouse and coins phrase 'audio reactive NFTs'</li><li style="margin-top: 10px;">NBA topshots - first FLOW blockchain NFTs</li><li style="margin-top: 10px;">Nyan Cat - after 'the duck song' the first Youtube legends NFT - sells for alot of money</li><li style="margin-top: 10px;">Charged Particles - turn your NFT into a programmable basket of tokens even other NFTs - defi meets art</li><li style="margin-top: 10px;"><a href="https://aavegotchi.com/" style="color: #66fcf1; text-decoration-line: none;">Aaachgochi</a> - onchain NFT defi - defi meets art</li><li style="margin-top: 10px;">Eulerbeats - first generate your own music from NFTs assets linked to blockchain (not sure if thats right). Also unique pricing model</li><li style="margin-top: 10px;">Hash Masks - first dynamically nameable artworks on blockchain</li><li style="margin-top: 10px;">January 2021 - The first Neurofeedback NFT (instructions in locked content)</li><li style="margin-top: 10px;">January 21st 2021 - <a href="https://www.broadsheet.com.au/sydney/art-and-design/article/this-weekend-future-art-australias-first-immersive-cryptoart-festival-like-small-club-style-vivid" style="color: #66fcf1; text-decoration-line: none;">Future Art</a> - first Crypto Art Festival</li><li style="margin-top: 10px;">January 2021 - <a href="https://github.com/ourzora/core#architecture" style="color: #66fcf1; text-decoration-line: none;">Zora</a> - new kind of NFT called a zNFT that extends allows the NFT to function as a marketplace as well - paradigm shift</li><li style="margin-top: 10px;">January 2021 - <a href="https://opensea.io/assets/0xa7d8d9ef8d8ce8992df33d8b8cf4aebabd5bd270/12000378" style="color: #66fcf1; text-decoration-line: none;">Unigrids</a> - first interactive NFT with music stored onchain</li></ul></div><div style="background-color: #0b0c10; color: #c5c6c7; font-family: Arimo, sans-serif; font-size: 14px;"><h3 id="2020" style="color: white; font-family: Inconsolata, sans-serif; font-size: 24px;">2020</h3><ul><li style="margin-top: 10px;">January 12th 2020 - <a href="https://niftyreport.substack.com/" style="color: #66fcf1; text-decoration-line: none;">Words: onchain words as NFT - "new words are minted by concatenating (combining) two existing words"</a></li><li style="margin-top: 10px;">January 14th 2020 - <a href="https://opensea.io/assets/0x6b4fccdd888bb6fd3934a9e49ef64dfd2c0d8e6d/25882832319781335299281632399333714574812225552588534835121392925540352" style="color: #66fcf1; text-decoration-line: none;">the first math-based pixel art was created on onchain as NFT</a></li><li style="margin-top: 10px;">January 2020 - <a href="https://opensea.io/assets/rgb%3C" style="color: #66fcf1; text-decoration-line: none;">the first math-based RGB tokens</a></li><li style="margin-top: 10px;">January 19th 2020 - <a href="https://niftyreport.substack.com/" style="color: #66fcf1; text-decoration-line: none;">ChainFaces, "an on-chain art contract that generates faces from a limited number of characters"</a></li><li style="margin-top: 10px;">January 2020 - <a href="https://opensea.io/collection/bitsforai" style="color: #66fcf1; text-decoration-line: none;">first NFTs for the AI art collectors of the future</a></li><li style="margin-top: 10px;">February 15th 2020 - <a href="https://cointelegraph.com/news/vr-world-lets-users-enjoy-digital-assets-in-an-immersive-way" style="color: #66fcf1; text-decoration-line: none;">Somnium Space</a> - first VR land NFT ? (Maybe was Cryptovoxels?)</li><li style="margin-top: 10px;">February 7th 2020 - Avastars - onchain NFT images of avatars</li><li style="margin-top: 10px;">February 2020 - MagNFT - The NFT Art Magazine - first NFT magazine</li><li style="margin-top: 10px;">March 2020 - Nifty Gateway - NFT marketplace that also takes fiat payments</li><li style="margin-top: 10px;">May 2020 - <a href="https://foundation.app/" style="color: #66fcf1; text-decoration-line: none;">Foundation.app</a> - NFT marketplace</li><li style="margin-top: 10px;">Skeenee - <a href="https://twitter.com/skeenee_art/status/1370381658713640962" style="color: #66fcf1; text-decoration-line: none;">first burning of IRL artworks and minting as NFTs</a></li><li style="margin-top: 10px;">Jonathan Mann - <a href="https://twitter.com/songadaymann" style="color: #66fcf1; text-decoration-line: none;">@songadaymann</a> - <a href="https://superrare.co/artwork/b-u-i-d-l-871%20-%20https://twitter.com/songadaymann/status/1367873178421321738" style="color: #66fcf1; text-decoration-line: none;">first song NFT on ether blockchain</a></li><li style="margin-top: 10px;"><a href="https://snark.art/artworks" style="color: #66fcf1; text-decoration-line: none;">89 sec Atomized (2018) by Eve Sussman on Snark.art</a> - Artwork broken into NFTs</li><li style="margin-top: 10px;">JOY - created NFT with multi image and 3D file formats that will be extended to work in more Metaverse and AR locations</li><li style="margin-top: 10px;">Valuables - <a href="https://v.cent.co/" style="color: #66fcf1; text-decoration-line: none;">first NFTs of tweets</a></li><li style="margin-top: 10px;">Unisocks - NFT for socks - more to story</li><li style="margin-top: 10px;">$TAPE - RAC sold first NFT for a cassette tape (on Zora) (I think)</li><li style="margin-top: 10px;">Saint Fame - first internet owned fashion house producing NFTs</li><li style="margin-top: 10px;">June 2020 - <a href="https://nftshowroom.com/faq" style="color: #66fcf1; text-decoration-line: none;">NFT Showroom</a> - Hive NFTs</li><li style="margin-top: 10px;">June 2020 - The first cross-chain NFT marketplace - https://ghostmarket.io</li><li style="margin-top: 10px;">June 17, 2020 - Dada.nyc - <a href="https://twitter.com/PowerDada/status/1273277412403548160" style="color: #66fcf1; text-decoration-line: none;">"DADA’s radical separation of art from the market includes a new form of exchanging value in which tokenized digital drawings (NFTs) are the medium of exchange"</a></li><a href="https://twitter.com/PowerDada/status/1273277412403548160" style="color: #66fcf1; text-decoration-line: none;"></a><li style="margin-top: 10px;"><a href="https://twitter.com/PowerDada/status/1273277412403548160" style="color: #66fcf1; text-decoration-line: none;">August 2020 - </a><a href="https://twitter.com/verticalcrypto" style="color: #66fcf1; text-decoration-line: none;">verticalcryptoart</a> - first twitter NFT art review (powersurge first comedy version)</li><li style="margin-top: 10px;">August 2020 - Atomic Assets’ NFT Creator - Wax blockchain NFTs</li><li style="margin-top: 10px;">Mintable.app - <a href="https://blog.zilliqa.com/mintables-nft-marketplace-on-zilliqa-now-open-for-business-4bbafd1d4ba9" style="color: #66fcf1; text-decoration-line: none;">first Zilliqa blockchain NFT marketplace</a></li><li style="margin-top: 10px;">August 2020 - <a href="https://nft.substack.com/p/to-infinity-and-beyond-inside-the" style="color: #66fcf1; text-decoration-line: none;">Infinft</a> - first fully onchain minting of NFTs (the artwork files and meta data are stored on chain as well an identifier)</li><li style="margin-top: 10px;">Async.art - the world's first programmable artwork, First Supper NFT</li><li style="margin-top: 10px;">Spaced Painter - first 4K video NFT</li><li style="margin-top: 10px;">Pranksy Land - first NFT land and NFT art sale combo</li><li style="margin-top: 10px;">March 2020 - Nifty Gateway - first NFT marketplace allowing fiat purchases</li><li style="margin-top: 10px;"><a href="https://artblocks.io/" style="color: #66fcf1; text-decoration-line: none;">Artblocks.io</a> - first generative art code on blockchain (not sure if thats right)</li><li style="margin-top: 10px;">Don't Buy Meme - first NFT artworks as interest? - defi and art collide</li><li style="margin-top: 10px;">Niftx - first fractionalised NFT ownership</li><li style="margin-top: 10px;">Cargo.build - crypto currency stored in NFT (gems)</li><li style="margin-top: 10px;">Decentraland - NFTs can be shown in world - NFT galleries launch of main NFT platforms - Knownorigin.io, Superrare.io, Makersplace.com, Mintbase (gensis art week)</li><li style="margin-top: 10px;">NFTX - first NFTs as indexed funds ? (maybe 2021)</li><li style="margin-top: 10px;">WhaleShark - first social coin to get listed on coin gecko ?</li><li style="margin-top: 10px;">Decentraland - first metaverse NFT fashion show</li><li style="margin-top: 10px;">NFT wearables - cryptovoxels</li><li style="margin-top: 10px;">Decentraland - 100xart show - first NFT metaverse multi gallery artshow</li><li style="margin-top: 10px;">NFT trash art movement - 64 Gallon Toter - ROBNESS</li><li style="margin-top: 10px;">Max Osiris - first NFT artist to be banned from multiple NFT platforms :) and to mint a graph as NFT (his social currency crashing to zero)</li><li style="margin-top: 10px;">March 2020 - <a href="https://opensea.io/assets/0x3a3b0dbdc0f6bc77421dcd2f55cfa087b0db9aec/345" style="color: #66fcf1; text-decoration-line: none;">ROBNESS and Max Osiris - first NFT collab</a></li><li style="margin-top: 10px;">March 11th 2020 - Connie Digital - first NFT hiphop song (HOLDING) on MakersPlace - <a href="https://twitter.com/ConnieDigital/status/1237757291056836609" style="color: #66fcf1; text-decoration-line: none;">Source</a></li><li style="margin-top: 10px;">Bronx zoo in cryptovvoxels - first shared land NFT (at least best known)</li><li style="margin-top: 10px;">June 2020 - <a href="https://twitter.com/SergueiV" style="color: #66fcf1; text-decoration-line: none;"></a>- first Powersurge NFT comedy</li><li style="margin-top: 10px;">WIP - first NFT souvenirs of events in Metaverse</li><li style="margin-top: 10px;"><a href="https://twitter.com/muratpak/status/1285799829990453250?lang=en" style="color: #66fcf1; text-decoration-line: none;">Pak - 'red' - first one pixel one colour NFT</a></li><li style="margin-top: 10px;">Pak - <a href="https://twitter.com/Sothebys/status/1346559302308405249?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1346559302308405249%7Ctwgr%5E%7Ctwcon%5Es1_c10&ref_url=https%3A%2F%2Fwww.one37pm.com%2Fgrind%2Fmoney%2Fmeet-murat-pak" style="color: #66fcf1; text-decoration-line: none;">'the title' offer to Christies - first performance art piece NFT</a></li><li style="margin-top: 10px;">Cryptovoxels - first voxel NFT</li><li style="margin-top: 10px;">Cryptoavators - first cross metaverse avatar NFT</li><li style="margin-top: 10px;">Cryptomotors - first cross metaverse car NFT</li><li style="margin-top: 10px;">Matt Kane - first physical artwork with an NFT sale at Christies</li><li style="margin-top: 10px;">Hackatao 'Hack the Tao' - first NFT Art as a 3d voxel game</li><li style="margin-top: 10px;">Bacca Arts - first graphic novel as NFT</li><li style="margin-top: 10px;">Proof of Beauty - first snapshot of ether blockchain as seed for generative art NFT</li><li style="margin-top: 10px;">Osinachi - first artist on rarible.com to sell an NFT for up to 1 eth</li><li style="margin-top: 10px;"><a href="https://www.niftex.com/gyb" style="color: #66fcf1; text-decoration-line: none;">GrowYourBase and NIFTEX</a> - create the first-ever fractionalized CryptoArt NFT Bundle</li><li style="margin-top: 10px;">November 2020 - <a href="https://ephimera.com/" style="color: #66fcf1; text-decoration-line: none;">ephimera.com</a> - NFT platform - "intersection of traditional fine art and cryptoart"</li><li style="margin-top: 10px;">November 2020 - <a href="https://twitter.com/BeyondNft/status/1381994923851927552" style="color: #66fcf1; text-decoration-line: none;">BeyondNFT</a> - first interactive and NFT games</li><li style="margin-top: 10px;">September 11th 2020 - <a href="https://peakd.com/hive-158694/@stellabelle/she-art-exbition-opening-tomorrow-in-cryptovoxels-my-art-scream-is-in-it" style="color: #66fcf1; text-decoration-line: none;">SHE ART</a> - first all women NFT art exhibition in Cryptovoxels</li></ul></div><div style="background-color: #0b0c10; color: #c5c6c7; font-family: Arimo, sans-serif; font-size: 14px;"><h3 id="2019" style="color: white; font-family: Inconsolata, sans-serif; font-size: 24px;">2019</h3><ul><li style="margin-top: 10px;">February 20th 2019 - <a href="https://twitter.com/PowerDada/status/1422333913427496964" style="color: #66fcf1; text-decoration-line: none;">Descontrol</a> - presented at http://NFT.NYC.</li><li style="margin-top: 10px;">March 5th 2019 - <a href="https://twitter.com/PowerDada/status/1422333913427496964" style="color: #66fcf1; text-decoration-line: none;">"Despidida"</a> - presented at Art + Music.</li><li style="margin-top: 10px;">March 23rd 2019 - <a href="https://twitter.com/PowerDada/status/1422333913427496964" style="color: #66fcf1; text-decoration-line: none;">"Sight Unseen"</a> - was made live and auctioned at RadicalxChange.</li><li style="margin-top: 10px;"><a href="https://twitter.com/AndrewSteinwold" style="color: #66fcf1; text-decoration-line: none;">@AndrewSteinwold</a> - not the first NFT podcast but one of the most important</li><li style="margin-top: 10px;">March 21st 2019 - <a href="https://twitter.com/cybourgeoisie/status/1373586436042194945" style="color: #66fcf1; text-decoration-line: none;">Blockade</a> - first large scale airdrop on ether - airdropped 6,150 NFTs to OG OpenSea user wallets on Ethereum.</li><li style="margin-top: 10px;">April 2019 - Autoglyphs - first onchain generative NFT art on the blockchain by Larva Labs</li><li style="margin-top: 10px;">April 2019 - Editional - first mobile app for minting NFTs</li><li style="margin-top: 10px;">April 2019 - Makersplace.com - NFT marketplace</li><li style="margin-top: 10px;">May 3rd 2019 - <a href="https://twitter.com/PowerDada/status/1422334245964496899" style="color: #66fcf1; text-decoration-line: none;">Simply Maria</a> - presented at CADAF NY</li><li style="margin-top: 10px;">May 10th 2019 - <a href="https://www.artsy.net/artwork/dada-dot-art-soul-in-the-machine" style="color: #66fcf1; text-decoration-line: none;">Soul In The Machine</a> - was made live and auctioned at Ethereal Summit</li><li style="margin-top: 10px;">May 18th 2019 - <a href="https://twitter.com/PowerDada/status/1422334245964496899" style="color: #66fcf1; text-decoration-line: none;">Animalia</a> - presented at Rare Art Fest 2.</li><li style="margin-top: 10px;">August 2019 - clovers.network - first icon NFTs</li><li style="margin-top: 10px;">August 2019 - Rendar Gallery - first street art NFT gallery opening in a Metaverse</li><li style="margin-top: 10px;">October 2019 - Rarible - NFT Market place</li><li style="margin-top: 10px;">November 28th 2019 - <a href="https://twitter.com/PowerDada/status/1422334245964496899" style="color: #66fcf1; text-decoration-line: none;">DADAGAN</a> - presented at TATE</li><li style="margin-top: 10px;">November 28th 2019 - <a href="https://twitter.com/PowerDada/status/1422334245964496899" style="color: #66fcf1; text-decoration-line: none;">Screens: An Exploration</a> - made live at TATE Modern</li><li style="margin-top: 10px;">December 7th 2019 - <a href="https://niftyreport.substack.com/" style="color: #66fcf1; text-decoration-line: none;">first NFT report</a></li></ul></div><div style="background-color: #0b0c10; color: #c5c6c7; font-family: Arimo, sans-serif; font-size: 14px;"><h3 id="2018" style="color: white; font-family: Inconsolata, sans-serif; font-size: 24px;">2018</h3><ul><li style="margin-top: 10px;">January 2018 - Rare Art Festival - significant moment in NFT history - <a href="https://raredigitalartfestival.splashthat.com/" style="color: #66fcf1; text-decoration-line: none;">Source 1</a></li><li style="margin-top: 10px;">January 2018 - Auction of Homer Rare Pepe (at Rare Art Festival) - sells for 38,500 dollars - <a href="https://www.vice.com/en/article/ev57p4/i-went-to-the-first-live-auction-for-rare-pepes-on-the-blockchain" style="color: #66fcf1; text-decoration-line: none;">Source 1</a></li><li style="margin-top: 10px;">January 25th 2018 - <a href="https://twitter.com/neondistrictRPG/status/956660873266941957" style="color: #66fcf1; text-decoration-line: none;">Neon District</a> - Cyber Punk RPG (using NFTs ?)</li><li style="margin-top: 10px;">February 14th 2018 - <a href="https://medium.com/secondrealm/crypto-art-ae98fd9b5af5" style="color: #66fcf1; text-decoration-line: none;">crypto artist Kevin Abosch</a> - sells an ERC-20 token that was purchased by a group of 10 investors for 1 million dollars</li><li style="margin-top: 10px;">March 2018 - <a href="https://github.com/OpenZeppelin/openzeppelin-contracts/pull/803" style="color: #66fcf1; text-decoration-line: none;">Open Zeppelin: NFT standard, ERC721 full implementation</a></li><li style="margin-top: 10px;">March 2018 - <a href="https://techcrunch.com/2018/04/19/rare-bits-crypto-marketplace/" style="color: #66fcf1; text-decoration-line: none;">Rare bits - first NFT marketplace</a></li><li style="margin-top: 10px;">March 14th 2018 - "Pop Art" for Kitty hats</li><li style="margin-top: 10px;">July 17th 2018 - <a href="https://anchor.fm/digitallyrare/episodes/Theres-No-i-in-NFT-or-IS-there-eigtgu" style="color: #66fcf1; text-decoration-line: none;">@songadaymann and @mattgcondon</a> - the first NFT focused podcast</li><li style="margin-top: 10px;">April 2018 - SuperRare.io - NFT marketplace</li><li style="margin-top: 10px;">April 2018 - KnownOrigin.io - NFT marketplace</li><li style="margin-top: 10px;">April 22th 2018 - <a href="https://twitter.com/Evilvoxels/status/1371115258950135819" style="color: #66fcf1; text-decoration-line: none;">JOY - first 3D art on Blockchain</a></li><li style="margin-top: 10px;">JOY - first crypto artist creating his own NFT contract</li><li style="margin-top: 10px;">JOY - first making music and video accompaniments to his NFT art</li><li style="margin-top: 10px;">JOY - <a href="https://etherscan.io/address/0x6c7b6cc55d4098400ac787c8793205d3e86c37c9" style="color: #66fcf1; text-decoration-line: none;">first to hard fork his NFT contract, into its current form</a></li><li style="margin-top: 10px;">April 2018 - Cryptovoxels - NFTs can be shown in world</li><li style="margin-top: 10px;">July 2018 - the first NFT conference</li><li style="margin-top: 10px;"><a href="https://twitter.com/beaniemaxi/status/1373403190834704386" style="color: #66fcf1; text-decoration-line: none;">XCOPY</a> mints some gifs on SuperRare.io</li><li style="margin-top: 10px;">FireFly - Air-Gap Hardware Wallet for Ethereum emits NFTs</li><li style="margin-top: 10px;">July 11th 2018 - <a href="https://twitter.com/CryptoArte/status/1374169599101517827" style="color: #66fcf1; text-decoration-line: none;">CryptoArte</a> - first NFT collection telling history of ethereum</li><li style="margin-top: 10px;">September 2018 - <a href="https://medium.com/secondrealm/crypto-art-ae98fd9b5af5" style="color: #66fcf1; text-decoration-line: none;">Maecenas.io</a> - tokenises an Andy Warhol painting which is the first time a piece of fine art from the traditional market is tokenised and sold on the blockchain</li></ul></div><div style="background-color: #0b0c10; color: #c5c6c7; font-family: Arimo, sans-serif; font-size: 14px;"><h3 id="2017" style="color: white; font-family: Inconsolata, sans-serif; font-size: 24px;">2017</h3><ul><li style="margin-top: 10px;"><a href="https://dada.nyc/" style="color: #66fcf1; text-decoration-line: none;">dada.nyc</a> - 8 collections issued between (2017-2019) - Pop Art/Kitty Hats collab, Soul In The Machine, María García, Descontrol, Sight Unseen, Animalia, DADAGAN, Art + Music, & Sketches of Screens at Tate</li><li style="margin-top: 10px;">March 17th 2017 - @ScrillaVentura and @squizzi - first art and blockchain podcast</li><li style="margin-top: 10px;">March 2017 — <a href="https://medium.com/@Andrew.Steinwold/the-history-of-non-fungible-tokens-nfts-f362ca57ae10" style="color: #66fcf1; text-decoration-line: none;">Rare Pepes on Ethereum</a> - Peperium “decentralized meme marketplace and trading card game (TCG) that allowed anyone to create memes that live eternally on IPFS and Ethereum.”</li><li style="margin-top: 10px;">May 2017 - <a href="https://news.bitcoin.com/blockchain-collectibles-curio-cards/" style="color: #66fcf1; text-decoration-line: none;">Curio cards minted tokens on Ethereum</a></li><li style="margin-top: 10px;">June 2017 — <a href="https://medium.com/@Andrew.Steinwold/the-history-of-non-fungible-tokens-nfts-f362ca57ae10" style="color: #66fcf1; text-decoration-line: none;">Cryptopunks - Larva Labs</a> (John Watkinson and Matt Hall)</li><li style="margin-top: 10px;">Aug 9th 2017 - <a href="https://twitter.com/NFTfinds/status/1370457484096278529" style="color: #66fcf1; text-decoration-line: none;">Mooncats: first NFT cats</a> - 'first bonding curve, first naming mechanism' ? <a href="https://twitter.com/justintrimble/status/1373352924630417412" style="color: #66fcf1; text-decoration-line: none;">Source</a></li><li style="margin-top: 10px;">Nov 23rd 2017 - Crypto Kitties - Dapper Labs - <a href="https://ostachowski.com/about/what-is-crypto-art/history-of-crypto-art/" style="color: #66fcf1; text-decoration-line: none;">Source 1</a>, <a href="https://etherscan.io/tx/0x44fd65a70b4ac20e6b59c10692b5d411c636a318afe33362d0c1214a2ede4e66" style="color: #66fcf1; text-decoration-line: none;">Source 2</a></li><li style="margin-top: 10px;">Kitty Hats - <a href="https://twitter.com/KittyHats_CK/status/973745119164813312" style="color: #66fcf1; text-decoration-line: none;">Source 1</a>, <a href="https://powerdada.medium.com/cryptokitties-collect-cryptoart-925b2b01879e" style="color: #66fcf1; text-decoration-line: none;">Source 2</a></li><li style="margin-top: 10px;">Dec 24th 2017 - <a href="https://etherscan.io/tx/0xa38a7f8bd386cca288af2fe3d15f7b0d91d52a849e81e18022ad4a901816e2a5" style="color: #66fcf1; text-decoration-line: none;">Crypto Cats</a></li><li style="margin-top: 10px;">August 2017 - Decentraland - sells land tokens (not NFTs but implements NFT's in late 2018)</li><li style="margin-top: 10px;">October 5th 2017 - "Creeps & Weirdos" - exhibition on dada.nyc</li><li style="margin-top: 10px;">December 2017 - <a href="https://etherscan.io/tx/0x0bd8df07cf5cd52b86c6d419b68fc4c413d5c150594da05c0b5f511205ae603b" style="color: #66fcf1; text-decoration-line: none;">EtherRock</a> - pet rocks on Ethereum (not quite an NFT)</li><li style="margin-top: 10px;">December 28th, 2017 - <a href="https://twitter.com/opensea/status/946531137974923271?s=20" style="color: #66fcf1; text-decoration-line: none;">OpenSea - one of the first decentralized exchange and marketplace for digital collectibles</a></li></ul></div><div style="background-color: #0b0c10; color: #c5c6c7; font-family: Arimo, sans-serif; font-size: 14px;"><h3 id="2016" style="color: white; font-family: Inconsolata, sans-serif; font-size: 24px;">2016</h3><ul><li style="margin-top: 10px;">April 2016 - <a href="https://medium.com/@Andrew.Steinwold/the-history-of-non-fungible-tokens-nfts-f362ca57ae10" style="color: #66fcf1; text-decoration-line: none;">Spells of Gensis on Counterparty (level 2 'NFT' app on Bitcoin)</a></li><li style="margin-top: 10px;">August 2016 - <a href="https://medium.com/@Andrew.Steinwold/the-history-of-non-fungible-tokens-nfts-f362ca57ae10" style="color: #66fcf1; text-decoration-line: none;">'Force of Will' cards on Counterparty</a></li><li style="margin-top: 10px;">October 2016 — <a href="https://medium.com/@Andrew.Steinwold/the-history-of-non-fungible-tokens-nfts-f362ca57ae10" style="color: #66fcf1; text-decoration-line: none;">first Rare Pepes on Counterparty</a></li><li style="margin-top: 10px;">September 2016 - <a href="https://twitter.com/djangobits/status/1373707295834669061" style="color: #66fcf1; text-decoration-line: none;">first gif UFOPEPE minted on BTC using counterparty</a></li><li style="margin-top: 10px;">DJ Pepe - RareScrilla.com <a href="https://twitter.com/ScrillaVentura" style="color: #66fcf1; text-decoration-line: none;">@ScrillaVentura</a> - <a href="https://twitter.com/ScrillaVentura/status/1364966663603552268" style="color: #66fcf1; text-decoration-line: none;">first Audio NFT</a></li></ul></div><div style="background-color: #0b0c10; color: #c5c6c7; font-family: Arimo, sans-serif; font-size: 14px;"><h3 id="2015" style="color: white; font-family: Inconsolata, sans-serif; font-size: 24px;">2015</h3><ul><li style="margin-top: 10px;">??? 2015 - <a href="https://left.gallery/" style="color: #66fcf1; text-decoration-line: none;">left.gallery</a> - early online gallery that would adopt NFTs in the future</li><li style="margin-top: 10px;">October 2015 - <a href="https://twitter.com/etheria_feed/status/1374869661544759297" style="color: #66fcf1; text-decoration-line: none;">first NFT house</a> - built in Etheria</li><li style="margin-top: 10px;">October 2015 - <a href="https://twitter.com/etheria_feed" style="color: #66fcf1; text-decoration-line: none;">Etheria</a> - the first pixel-on-chain NFTs ever created (deployed to Ethereum in October 2015), <a href="https://twitter.com/etheria_feed/status/1373425688645144577" style="color: #66fcf1; text-decoration-line: none;">Source 2</a> - also, first virtual land on the blockchain</li><li style="margin-top: 10px;">April 2015 - <a href="https://www.folia.app/sets/pixel-sorters" style="color: #66fcf1; text-decoration-line: none;">Harm van den Dorpel</a> - claims to first artist to sell an NFT to an institution for Bitcoin</li><li style="margin-top: 10px;">March 11th 2015 - <a href="https://xchain.io/asset/FDCARD" style="color: #66fcf1; text-decoration-line: none;">'Spells of Genesis' by Everdreamsoft</a></li></ul></div><div style="background-color: #0b0c10; color: #c5c6c7; font-family: Arimo, sans-serif; font-size: 14px;"><h3 id="2014" style="color: white; font-family: Inconsolata, sans-serif; font-size: 24px;">2014</h3><ul><li style="margin-top: 10px;">February 20th 2014 - <a href="https://twitter.com/adamamcbride/status/1373472852763099142" style="color: #66fcf1; text-decoration-line: none;">Rob Myers</a> - early blockchain art pioneer - had he minted a single MYSOUL it would have been the first NFT</li><li style="margin-top: 10px;">April 7th 2014 - <a href="https://twitter.com/wasthatawolf/status/1403404830740303877" style="color: #66fcf1; text-decoration-line: none;">THING</a> - possible contender for first NFT? according to Loonardo Joe Vinci</li><li style="margin-top: 10px;">May 3rd 2014 - <a href="https://www.sothebys.com/en/buy/auction/2021/natively-digital-a-curated-nft-sale-2/quantum?locale=en" style="color: #66fcf1; text-decoration-line: none;">Qauntum</a> - first NFT according to Sotheby's</li><li style="margin-top: 10px;"><a href="https://medium.com/@Andrew.Steinwold/the-history-of-non-fungible-tokens-nfts-f362ca57ae10" style="color: #66fcf1; text-decoration-line: none;">Trading card game and meme trading on Counterparty</a> - founded by Robert Dermody, Adam Krellenstein, and Evan Wagner; "A peer-to-peer financial platform and distributed, open-source Internet protocol built on top of the Bitcoin blockchain"</li><li style="margin-top: 10px;"><a href="https://twitter.com/mccoyspace/status/1369094372436946949" style="color: #66fcf1; text-decoration-line: none;">First art NFT on Counterparty - mccoyspace</a></li><li style="margin-top: 10px;"><a href="https://nmc.tokenview.com/en/tx/fa8b9a6ad4d266ffbec4f9a1217e0dbcd657bb1eb3ed49912a2ab1bd3bb48f8d?utm_source=newsletter&utm_medium=email&utm_campaign=newsletter_axiosedge&stream=business" style="color: #66fcf1; text-decoration-line: none;">first NFT and first gif NFT</a> - <a href="https://twitter.com/mccoyspace/status/1373908298265677829" style="color: #66fcf1; text-decoration-line: none;">Source 2</a></li><li style="margin-top: 10px;"><a href="https://techcrunch.com/2014/05/09/monegraph/?guccounter=1&guce_referrer=aHR0cHM6Ly90LmNvLw&guce_referrer_sig=AQAAANYmc1eeZjuuRFALotY6wZcKFkEs-MwiLkUbCbYPK8RDUtqNk9HWhd9VH23kcGtEe7ZZujzA6aadvOA2dRwUM2n9lkeOvSzWPH9Z5lFdSXq6pxEbCO6vFl-7-8Nc04TFtruj2FNyM7obRdOWP1_0XgUw8vucvN4N4HuEUw6P4Y9-" style="color: #66fcf1; text-decoration-line: none;">Monegraph - created by Kevin McCoy and Anil Dash </a>- Monetized Graphics (NFT could have been called this although NFT is a bigger concept as covers more than art) for a created image was assigned a blockchain key and value storable in a NameCoin wallet</li><li style="margin-top: 10px;">September 2014 - <a href="https://bitcointalk.org/index.php?topic=782161.0" style="color: #66fcf1; text-decoration-line: none;">NILIcoin</a> - 'The artwork which will carry the value of the NILI coin are real objects, paintings and works on paper.'</li><li style="margin-top: 10px;">bitcorns, memorychain, force of will, databits, penisium, Bitgirls, diecast</li></ul></div><div style="background-color: #0b0c10; color: #c5c6c7; font-family: Arimo, sans-serif; font-size: 14px;"></div><div style="background-color: #0b0c10; color: #c5c6c7; font-family: Arimo, sans-serif; font-size: 14px;"><h3 id="2012" style="color: white; font-family: Inconsolata, sans-serif; font-size: 24px;">2012</h3><ul><li style="margin-top: 10px;"><a href="https://medium.com/@Andrew.Steinwold/the-history-of-non-fungible-tokens-nfts-f362ca57ae10" style="color: #66fcf1; text-decoration-line: none;">Colored coins</a> - not NFTs but moving in that direction</li></ul></div><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; outline: 0px; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;"></span></span></p><div style="background-color: #0b0c10; color: #c5c6c7; font-family: Arimo, sans-serif; font-size: 14px;"><h3 id="2011" style="color: white; font-family: Inconsolata, sans-serif; font-size: 24px;">2011</h3><ul><li style="margin-top: 10px;">a project by <a href="https://messagesfromthemines.brangerbriz.com/" style="color: #66fcf1; text-decoration-line: none;">Dan Kaminsky</a> surfaces poems, ASCII art and more found in the Bitcoin blockchain</li><li style="margin-top: 10px;">first art in blockchain? <a href="https://twitter.com/BardIonson/status/1375851508181401612" style="color: #66fcf1; text-decoration-line: none;">Source</a></li></ul></div>Nischal Lal Shresthahttp://www.blogger.com/profile/05625422095651611201noreply@blogger.com0tag:blogger.com,1999:blog-8831307421570903483.post-78439726391612236012021-11-26T19:57:00.000-08:002021-11-26T19:57:44.654-08:00Enterprise Application Development Notes<p> <br />Enterprise: An organizational unit which ranges from a department to whole corporation.<br /><br />An Enterprise Architecture is a conceptual blueprint that defines the structure and operations of organization. The intent of enterprise architecture is to determine how an organization can effectively achieve its current and future objectives. Enterprise architecture involves practice of analyzing, planning, designing and eventual implementing of analysis of an enterprise.<br /><br />Enterprise Architecture is about understanding all the different components that go to make up the enterprise and how those components are inter-relate.<br /><br />Layers of Enterprise Architecture<br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br />Enterprise Application<br />An enterprise application is the phrase used to describe applications(or software) that a business would use to assist the organization in solving enterprise problems. When the word “enterprise” is combined with “application,” it usually refers to a software platform that is too large and too complex for individual or small business use. <br /><br />Example of Enterprise Applications<br />- Automated Billing Systems<br />- Online Content Management<br />- Email Marketing System<br />- HR Management<br />- Customer Relationship Management<br /><br /><br /><br /><br /><br /><br /><br /><br />Java is widely used for developing EA.<br />Java is one of the most robust programming language used for developing small applications to large end-to-end enterprise software. Java has a vast array of excellent libraries for solving most of the common problems one needs to solve when developing enterprise application. For example Spring Boot, Quarkus, Apache Spark, Apache Flink etc.<br /><br />Many companies choose Java for developing EA because:<br /><br />1. Shorter Learning Curve<br />Java is a simple language with a huge support base. Enterprise projects tend to involve large number of developers and it is much easier to get a developer to a minimum level of competence in a Java than other language like C++. A lot of university graduate have been largely schooled in Java.<br /><br />2. Java Supports a vast arrays of libraries<br /> Java has a vast array of excellent libraries for solving most of the common problems one needs to solve when developing enterprise application. For example Spring Boot, Quarkus, Apache Spark, Apache Flink etc.<br /><br />3. Platform Independence<br />Java is writing once, run everywhere. Sun has actively encouraged open standards that allow multiple vendors to implement their solutions. These standards give the customer the comfort that they can migrate from one vendor to another if a given vendor goes under or starts charging more.<br /><br />4. Easy integration and scalability<br />Being supported by a huge user community, Java is a very handy tool for web development. Many of the hosting providers support Java code for hosting their web applications. Hadoop, the big name in Data is written in Java. Java is also highly scalable, making it easy for enterprise to ramp-up their application development needs as per the demand.<br /><br />5. Intertia<br />Large corporation update themselves very slow, so once they have picked up Java, it takes a huge investment to migrate to another platform. And convincing for change is to assure them to invest a lot of money for no immediate business benefit.<br /><br />6. Use of OOPs concents.<br />7. Secure<br />Enterprise Architecture Framework (EA Framework)<br />EA framework defines how to create and use an enterprise architecture. It is a structure for the content of an Enterprise Architecture Description, according to IEEE 1471 definition, we can describe an EA Framework as the model shown below:<br /><br /><br />Frameworks help people organize and assess completeness of integrated models of their<br />enterprises. An Architectural Framework gives a skeletal structure that defines suggested<br />architectural artifacts, describes how those artifacts are related to each other, and provides<br />generic definitions for what those artifacts might look like. EAF says:<br />→ How to create and use an enterprise architecture.<br />→ Principles and practices for creating and using architectural description of the system.<br /><br /><br />Types of EA Framework<br />The industry standard EA framework includes three different types of frameworks:<br />1. Template Framework<br /> – Zachman Framework<br />2. Content Framework<br />– The Open Group Architecture Framework(TOGAF)<br />– The Department of Defense Architecture Framework(DODAF)<br />3. Unified Profile for EA Framework from OMG<br /><br />1. Zachman Enterprise Application Framework<br />The framework is named after its creator John Zachman, who first developed the concept in the 1980s at IBM. It has been updated ever since.<br /><br />Zachman Framework is an enterprise ontology which provides formal and highly structured way of viewing and defining and enterprise. It consists of two-dimensional 6x6 classification matrix based on the intersection of six communication questions (What, Where, When, Why Who and How) with five levels of reification, successively transforming the most abstract ideas(on the scope level) into more concrete ideas(at the operations level).<br /><br />The rows present:<br />- Different perspectives of the enterprise<br />- Different Views of the enterprise<br />- Different roles in the enterprise<br /><br />1. Scope describes the system’s vision, mission, boundaries, architecture and constraints. The scope states what the system is to do. It is called a black box model, because we see the inputs and outputs, but not the inner workings.<br />2. Business model shows goals, strategies and processes that are used to support the mission of the organization.<br />3. System model contains system requirements, objectives, activities and functions that implement the business model. The system model states how the business is to perform its functions. It is called a white box model, because we see its inner workings.<br />4. Technology model considers the constraints of humans, tools, technology and materials.<br />5. Detailed representation presents individual, independent components that can be allocated to contractors for implementation.<br />6. Real system depicts the operational system under consideration.<br /><br />Column presents:<br />1. What (data) describes the entities involved in each perspective of the enterprise. Examples include equipment, business objectives and system data.<br />2. How (functions) shows the functions within each perspective.<br />3. Where(networks) shows locations and interconnections within the enterprise.<br />4. Who (people) represent the people within the enterprise and metrics for assesing their capabilities and performance.<br />5. When (time) represents time, or the event relationships that establish performance criteria.<br />6. Why (motivation) describes the motivations of the enterprise.<br /><br /><br />2. The Open Group Architectural Framework (TOGAF)<br />The TOGAF was first developed in 1995. Created and owned by the The Open Group. This is one of the most common framework that accounts for over 80% of the enterprise business framework structure.<br />Core Concepts<br /> 1. Business Architecture - The business strategy, governance, organization, and key business processes. <br /> 2. Data Architecture - The structure of an organization's logical and physical data assets and data management resources. <br /> 3. Application Architecture - A blueprint for the individual applications to be deployed, their interactions, and their relationships to the core business processes of the organization. <br /> 4. Architecture Technology Architecture - The logical software and hardware capabilities that are required to support the deployment of business, data, and application services. This includes IT infrastructure, middleware, networks, communications, processing, and standards. <br />Note That: Information Systems Architecture = Data Architecture + Application<br /> <br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br />3. Government Enterprise Architecture Frameworks (GEAF)<br />Government Enterprise Architecture is define as: a whole of government approach to support government ecosystems by transcending boundaries for delivering services in a coordinated, efficient, and equitable manner.<br /><br />A government business enterprise (or GBE) is a hybrid organization that has features of a private company and a public organization: <br /> • They act like private companies in that they seek to make a profit and compete against other companies<br /> • They act like a public organization in that they carry out government policies and non-commercial services; think of the mail service, railways, etc. <br />Objectives<br />1. Transformation for e-Government.<br />2. Managing stakeholders in complex government environment.<br />3. Measuring and demonstrating success.<br />4. Managing procurement, budgeting, and public expenditures.<br />5. Share information, knowledge, technology and other resources.<br />6. Optimize ICT investment and business cases across the whole government.<br /><br />In the context of government enterprises: a coordinated set of activity areas involving one or more public organizations and possibly third-party entities from private organizations or civil society, an EA provides technical descriptions of the organizational goals, business and<br />administrative processes, information requirements, supporting applications and technology<br />infrastructure of the enterprise. These descriptions are typically captured in the form of<br />models, diagrams, narratives, etc. <br /><br />A Government Enterprise Architecture (GEA) may be associated with a single agency or span functional areas transcending several organizational boundaries, e.g. health care, financial management and social welfare.<br /><br />Reasons for developing enterprise architectures in government include:<br />1. Understanding, clarifying and optimizing the inter-dependencies and relationships<br />among business operations, the underlying IT infrastructure and applications that support<br />these operations in government agencies and in the context of specific government<br />enterprises<br />2. Establishing a basis for agencies to share information, knowledge and technology and<br />other resources or jointly participate in the execution of business processes<br />3. Optimizing ICT investment and business cases across the whole of government by<br />enabling the opportunities for collaboration and sharing of assets, thus reducing the<br />tendency for duplicated and poorly integrated IT resources and capabilities<br />There is increasing awareness on the importance of EA as most of the leading countries in e-<br />government have well established EA programs. Presently, there are EA maturity models with<br />defined relations to well known e-Government Maturity stages. The increasing popularity of<br />EA practices by governments in both developed and developing countries is indicated by the<br />different global surveys on EA.<br /><br /><br />Java Enterprise Edition<br /><br />The Java EE platform is designed to help developers create large-scale, multi-tiered, scalable, reliable, and secure network applications. A shorthand name for such applications is "enterprise applications," so called because these applications are designed to solve the problems encountered by large enterprises.<br />The features that make enterprise applications powerful, like security and reliability, often make these applications complex. The Java EE platform reduces the complexity of enterprise application development by providing a development model, API, and runtime environment that allow developers to concentrate on functionality.<br /><br />Tiered Applications<br />In a multi-tiered application, the functionality of the application is separated into isolated functional areas, called tiers. Typically, multi-tiered applications have a client tier, a middle tier, and a data tier (often called the enterprise information systems tier). The client tier consists of a client program that makes requests to the middle tier. The middle tier is divided into a web tier and a business tier, which handle client requests and process application data, storing it in a permanent datastore in the data tier.<br />1. The Client Tier<br />2. The Middle Tier<br /> - Web Tier(JavaServer Faces Technology, Expression Language, Servlets, Contexts and Dependency Injection for Java EE)<br /> - Business Tier (Enterprise JavaBeans Components, JAX-RS RESTful web services, Java Persistence API)<br />3. Data Tier or Enterprise Information System Tier (JDBC API, JTA API, Java EE Connector Architecture)<br /><br /><br /><br /><br /><br /><br /><br /><br /><br />The 13 core technologies that make up Java EE are:<br /> 1. JDBC : JDBC stands for Java Database Connectivity, which is a standard Java API for database-independent connectivity between the Java programming language and a wide range of databases.<br /> 2. JNDI : JNDI stands for Java Naming and Directory Interface. JNDI allows distributed applications to look up services in an abstract, resource-independent way. The most common use case is to set up a database connection pool on a Java EE application server. <br /> 3. EJBs: EJB stands for Enterprise Java Beans. EJB is a server-side software component that encapsulates business logic of an application. The EJB specifications provides a standard way to implement the server-side (also called “back-end”).<br /> 4. JSP: JavaServer Pages (JSP) is a Java standard technology that enables you to write dynamic, data-driven pages for your Java web applications. JSP is built on top of the Java Servlet Specification.<br /> 5. Java Servlets: A servlet is simply a class which responds to a particular type of network request - most commonly an HTTP request. Basically servlets are usually used to implement web applications. <br /> 6. Java Mail: The JavaMail is an API that is used to compose, write and read electronic messages (emails).The JavaMail API provides protocol-independent and plateform-independent framework for sending and receiving mails.<br /> 7. RMI<br /> 8. XML <br /> 9. JMS <br /> 10. Java IDL <br /> 11. JTS <br /> 12. JTA (Java Transaction API) <br /> 13. JAF (Java Activation Framework)<br /><br /><br />Java Frameworks<br />Spring, Hibernate, Struts, JavaServer Faces (JSF), Google Web Kit (GWT), Play, Grails, Vert.X, Apache Wicket, <br />Internet Based Communications<br /> → Instant Messaging<br /> → Internet Technology and VoIP<br /> → E-mail<br /> → Internet Relay Chat<br /> → Video Conferencing<br /> → SMS<br />Protocols<br />Protocols exist at several levels in a telecommunication connection. For example, there are<br />protocols for the data interchange at the hardware device level and protocols for data interchange<br />at the application program level.<br />Some of the important protocols of internet are:<br />Transmission Control Protocol (TCP) is a connection-oriented protocol that provides reliable,ordered, error-checked delivery of packets.<br />Internet Protocol (IP) has the task of delivering packets from the source host to the destination host solely based on the IP addresses in the packet headers.<br />User Datagram Protocol (UDP) is a connection-less protocol that does not provide reliability, order or error-checking. UDP messages are referred to as datagrams and a datagram is defined as a basic transfer unit associated with a packet-switched network in which the delivery, arrival time, and order of arrival are not guaranteed by the network.<br />Hypertext Transfer Protocol (HTTP) is the protocol to exchange or transfer hypertext. Hypertext is structured text that uses logical links (hyperlinks) between nodes containing text. HTTP is called as a stateless protocol because each request is executed independently, without any knowledge of the requests that were executed before it, which means once the transaction ends the connection between the browser and the server is also lost.<br />HTTP is a textual, stateless protocol.<br />Textual <br />All commands are plain-text and human-readable. <br />Stateless <br />Neither the server nor the client remember previous communications. For example, relying on HTTP alone, a server can't remember a password you typed or remember your progress on an incomplete transaction. You need an application server for tasks like that.<br /><br />The World Wide Web (abbreviated as WWW or W3) or the web is a system of interlinked hypertext documents accessed via the Internet. With a web browser, one can view web pages and navigate between them via hyperlinks.<br />FTP is a standard network protocol used to transfer files from one host to another host over a TCP-based network.<br />SMTP is an Internet standard for electronic mail (e-mail) transmission across Internet Protocol (IP) networks.<br /><br />Enterprise JavaBeans<br />EJB is one of several Java APIs for modular construction of enterprise software. EJB is a server-side software component that encapsulates business logic of an application. The EJB specifications provides a standard way to implement the server-side (also called “back-end”). EJB is intended to handle such common concerns as persistence, transactional integrity and security in a standard way, leaving programmers free to concentrate on particular parts of the enterprise software ant hand. <br /><br />Responsibilities<br />→ Transaction Processing<br />→ Concurrency Control<br />→ Job Scheduling<br />→ Event Driven Programming<br />→ Security<br />→ Deployment of software components in an application server<br />→ IPC using RMI-IIOP and Web Services<br />→ Asynchronous Method Invocation<br /><br />The following shows a basic example of what an EJB looks like in code: <br />@Stateless <br />public class CustomerService { <br /> <br /><br /> private EntityManager entityManager; <br /> <br /> public void addCustomer(Customer customer) { <br /> entityManager.persist(customer); <br /> } <br />}<br />The above defines a service class for persisting a Customer object (via O/R mapping). The EJB takes care of managing the persistence context and the addCustomer() method is transactional and thread-safe by default. As demonstrated, the EJB focuses only on business logic and persistence and knows nothing about any particular presentation. <br />Types of Enterprise Beans<br />1. Sessions Beans that can be either “Statefull”, “Stateless” or “Singleton”<br />Session bean contains business logic that can be invoked by local, remote or webservice client.<br />2. Message Driven Beans (MDB)<br />Like session bean, it can contains the business logic but is invoked by message passing.<br />3. Entity Bean<br />It encapsulates the state that can be persisted in database. It is deprecated an is now replaced by JPA.<br /><br /><br />Type<br />Description<br />Session Bean<br />Session bean stores data of a particular user for a single session. <br />It can be stateful or stateless. It is less resource intensive as compared to entity beans. Session bean gets destroyed as soon as user session terminates.<br />Entity Bean<br />Entity beans represents persistent data storage.<br /> User data can be saved to database via entity beans and later on can be <br />retrieved from the database in the entity bean.<br />Message Driven Bean<br />Message driven beans are used in context of <br />JMS (Java Messaging Service). Message Driven Beans can <br />consumes JMS messages from external entities and act accordingly.<br /><br /><br />Disadvantage of EJB<br />→ Requires application server.<br />→ Requires only java client.<br />→ Complex to understand.<br />→ Complex to develop EJB applications.<br /><br />Web Services<br />A web service enables communication among various applications by using open standards such as HTML, XML, WSDL, and SOAP. A web service is a collection of open protocols and standards used for exchanging data between applications or systems. Software applications written in various programming languages and running on various platforms can use web services to exchange data over computer networks like the Internet in a manner similar to inter-process communication on a single computer. This interoperability (e.g., between Java and Python, or Windows and Linux applications) is due to the use of open standards.<br />Components of Web Services<br />The basic web services platform is XML + HTTP. All the standard web services work using the following components −<br /> • SOAP (Simple Object Access Protocol)<br /> • UDDI (Universal Description, Discovery and Integration)<br /> • WSDL (Web Services Description Language)<br />How Does a Web Service Work?<br />A web service enables communication among various applications by using open standards such as HTML, XML, WSDL, and SOAP. A web service takes the help of −<br /> • XML to tag the data<br /> • SOAP to transfer a message<br /> • WSDL to describe the availability of service.<br />You can build a Java-based web service on Solaris that is accessible from your Visual Basic program that runs on Windows. You can also use C# to build new web services on Windows that can be invoked from your web application that is based on JavaServer Pages (JSP) and runs on Linux.<br />Importance of Web Services<br />Exposing the Existing Function on the network<br />A web service is a unit of managed code that can be remotely invoked using HTTP. That is, it can be activated using HTTP requests. Web services allow you to expose the functionality of your existing code over the network. Once it is exposed on the network, other applications can use the functionality of your program.<br />Interoperability<br />Web services allow various applications to talk to each other and share data and services among themselves. Other applications can also use the web services. For example, a VB or .NET application can talk to Java web services and vice versa. Web services are used to make the application platform and technology independent.<br />Standardized Protocol<br />Web services use standardized industry standard protocol for the communication. All the four layers (Service Transport, XML Messaging, Service Description, and Service Discovery layers) use well-defined protocols in the web services protocol stack. This standardization of protocol stack gives the business many advantages such as a wide range of choices, reduction in the cost due to competition, and increase in the quality.<br />Low Cost Communication<br />Web services use SOAP over HTTP protocol, so you can use your existing low-cost internet for implementing web services. This solution is much less costly compared to proprietary solutions like EDI/B2B. Besides SOAP over HTTP, web services can also be implemented on other reliable transport mechanisms like FTP.<br /><br />Service Oriented Architecture<br />SOA, or service-oriented architecture, defines a way to make software components reusable via service interfaces. These interfaces utilize common communication standards in such a way that they can be rapidly incorporated into new applications without having to perform deep integration each time.<br /><br />There are several types of services used in SOA systems.<br />Business services<br />Entity services<br />Functional services<br />Utility services<br /><br />Benefits<br /> Ability to build business applications faster and more easily<br /> Easier maintenance / update<br /> Business agility and extensibility<br /> Lower total cost of ownership<br />Greater business agility; faster time to market: The efficiency of assembling applications from reusable service interfaces, rather than rewriting and reintegrating with every new development project, enables developers to build applications much more quickly in response to new business opportunities. <br /><br />Ability to leverage legacy functionality in new markets: A well-crafted SOA enables developers to easily take functionality ‘locked’ in one computing platform or environment and extend it to new environments and markets. For example, many companies have used SOA to expose functionality from mainframe-based financial systems to the web, enabling their customers to serve themselves to processes and information previously accessible only through direct interaction with the company’s employees or business partners. <br /><br />Improved collaboration between business and IT: In an SOA, services can be defined in business terms (e.g., ‘generate insurance quote’ or ‘calculate capital equipment ROI’). This enables business analysts to work more effectively with developers on important insights—such as the scope of a business process defined by a service or the business implications of changing a process—that can lead to a better result. <br /><br />Data Exchange is the process of taking data structured under a source schema and transforming it into data structured under a target schema, so that the target data is an accurate representation of the source data. <br />Data exchange format is an interim data format for converting from one file or database structure to another. Also called a “data exchange format”. The source data is converted into the exchange format by one program, and the data in the exchange format is converted to the target format by another program. XML is commonly used as a data exchange format.<br /><br />Extensible Markup Language (XML)<br />XML is a markup language that defines a set of rule for encoding documents in a format that is both human-readable and machine-readable.<br /> <br />XML Tree Structure<br />XML documents are formed as element trees.<br />An XML tree starts at a root element and branches from the root to child elements.<br />All elements can have sub elements (child elements):<br /><root><br /> <child><br /> <subchild>.....</subchild><br /> </child><br /></root> <br />The terms parent, child, and sibling are used to describe the relationships between elements.<br />Parents have children. Children have parents. Siblings are children on the same level (brothers and sisters). All elements can have text content (Harry Potter) and attributes (category="cooking").<br />Self-Describing Syntax<br />XML uses a much self-describing syntax.<br />A prolog defines the XML version and the character encoding:<br /><?xml version="1.0" encoding="UTF-8"?> <br />The next line is the root element of the document:<br /><bookstore> <br /><br />The next line starts a <book> element:<br /><book category="cooking"> <br />The <book> elements have 4 child elements: <title>, <author>, <year>, <price>.<br /><title lang="en">Everyday Italian</title><br /><author>Giada De Laurentiis</author><br /><year>2005</year><br /><price>30.00</price> <br />The next line ends the book element:<br /></book> <br />You can assume, from this example, that the XML document contains information about books in a bookstore.<br /><br />XML Terminology<br /><br />XML Binding in Java<br />Java Architecture for XML Binding (JAXB) provides a fast and convenient way to bind XML schemas and Java representations, making it easy for Java developers to incorporate XML data and processing functions in Java applications. As part of this process, JAXB provides methods for unmarshalling (reading) XML instance documents into Java content trees, and then marshalling (writing) Java content trees back into XML instance documents. JAXB also provides a way to generate XML schema from Java objects.<br /><br />The JAXB Binding Process<br />The following figure shows what occurs during the JAXB binding process. <br />Figure: Steps in the JAXB Binding Process<br /><br /><br /><br />The general steps in the JAXB data binding process are:<br /> 1. Generate classes: An XML schema is used as input to the JAXB binding compiler to generate JAXB classes based on that schema. <br /> 2. Compile classes: All of the generated classes, source files, and application code must be compiled. <br /> 3. Unmarshal: XML documents written according to the constraints in the source schema are unmarshalled by the JAXB binding framework. Note that JAXB also supports unmarshalling XML data from sources other than files and documents, such as DOM nodes, string buffers, SAX sources, and so forth. <br /> 4. Generate content tree: The unmarshalling process generates a content tree of data objects instantiated from the generated JAXB classes; this content tree represents the structure and content of the source XML documents. <br /> 5. Validate (optional): The unmarshalling process involves validation of the source XML documents before generating the content tree. Note that if you modify the content tree in Step 6, you can also use the JAXB Validate operation to validate the changes before marshalling the content back to an XML document. <br /> 6. Process content: The client application can modify the XML data represented by the Java content tree by using interfaces generated by the binding compiler. <br /> 7. Marshal: The processed content tree is marshalled out to one or more XML output documents. The content may be validated before marshalling. <br />More About Unmarshalling<br />Unmarshalling provides a client application the ability to convert XML data into JAXB-derived Java objects.<br />More About Marshalling<br />Marshalling provides a client application the ability to convert a JAXB-derived Java object tree into XML data.<br />By default, the Marshaller uses UTF-8 encoding when generating XML data.<br /><br /><br />JSON<br /><br /><br />JSON is Like XML Because<br /> • Both JSON and XML are "self describing" (human readable) <br /> • Both JSON and XML are hierarchical (values within values) <br /> • Both JSON and XML can be parsed and used by lots of programming languages <br /> • Both JSON and XML can be fetched with an XMLHttpRequest <br /><br />JSON is Unlike XML Because<br /> • JSON doesn't use end tag <br /> • JSON is shorter <br /> • JSON is quicker to read and write <br /> • JSON can use arrays <br />The biggest difference is: XML has to be parsed with an XML parser. JSON can be parsed by a standard JavaScript function. <br /><br />Why JSON is Better Than XML<br />XML is much more difficult to parse than JSON.<br />JSON is parsed into a ready-to-use JavaScript object.<br />For AJAX applications, JSON is faster and easier than XML:<br />Using XML<br /> • Fetch an XML document <br /> • Use the XML DOM to loop through the document <br /> • Extract values and store in variables <br />Using JSON<br /> • Fetch a JSON string <br /> • JSON.Parse the JSON string <br /><br /><br /><br />Resource Description Framework (RDF)<br /><br />SOAP<br /><br /><br /><br /><br />WSDL<br /><br />UDDI(Universal Description, Discovery and Integration)<br /><br />ebXML<br /><br />1. Document Type Definition (DTD) :<br />DTD stands for Document Type Definition and it is a document which defines the structure of an XML document. It is used to describe the attributes of XML language precisely. It can be classified into two types namely internal DTD and external DTD. It can be specified inside a document or outside a document. DTD mainly checks the grammar and validity of a XML document. It checks that a XML document has a valid structure or not.<br />2. XML Schema Definition (XSD) :<br />XSD stands for XML Schema Definition and it is a way to describe the structure of a XML document. It defines the rules for all the attributes and elements in a XML document. It can also be used to generate the XML documents. It also checks the vocabulary of the document. It doesn’t require processing by a parser. XSD checks for the correctness of the structure of the XML file. XSD was first published in 2001 and after that it was published in 2004.<br /><br /><br />Difference between Document Type Definition (DTD) and XML Schema Definition (XSD) :<br />S.NO.<br />DTD<br />XSD<br />1.<br />DTD are the declarations that define a document type for SGML.<br />XSD describes the elements in a XML document.<br />2.<br />It doesn’t support namespace.<br />It supports namespace.<br />3.<br />It is comparatively harder than XSD.<br />It is relatively more simpler than DTD.<br />4.<br />It doesn’t support datatypes.<br />It supports datatypes.<br />5.<br />SGML syntax is used for DTD.<br />XML is used for writing XSD.<br />6.<br />It is not extensible in nature.<br />It is extensible in nature.<br />7.<br />It doesn’t give us much control on structure of XML document.<br />It gives us more control on structure of XML document.<br /><br />Source Code Management<br />A version control system serves the following purposes, among others. <br /> • Version control enables multiple people to simultaneously work on a single project. Each person edits his or her own copy of the files and chooses when to share those changes with the rest of the team. Thus, temporary or partial edits by one person do not interfere with another person's work. <br /> • Version control integrates work done simultaneously by different team members. In most cases, edits to different files or even the same file can be combined without losing any work. In rare cases, when two people make conflicting edits to the same line of a file, then the version control system requests human assistance in deciding what to do. <br /> • Version control gives access to historical versions of your project. This is insurance against computer crashes or data lossage. If you make a mistake, you can roll back to a previous version. You can reproduce and understand a bug report on a past version of your software. You can also undo specific edits without losing all the work that was done in the meanwhile. For any part of a file, you can determine when, why, and by whom it was ever edited. <br /><br /><br /><br /><br /><br />Importance<br />Collaboration<br />Avoid Conflicting Changes<br />Manages Conflict<br />Backup and Restore – Files can be saved at any moment and can be restored from the last saved.<br />Synchronization – Programmers can get the latest code and fetch the up-to-date codes from the repository.<br />Short-Term Undo – Working with a file and messed it up. We can do a short-term undo to the last known version.<br />Long-Term Undo – It helps when we have to make a release version rollback. Something like going to the last version which was created a year<br />Track Changes – We can track the changes as when anyone is making any change, he can leave a commit message as for why the change was done.<br />Ownership – With every commit made to the master branch, it will ask the owner permission to merge it.<br />Branching and Merging – You can create a branch of your source code and create the changes. Once the changes are approved, you can merge it with the master branch.<br />Distributed and centralized version control<br />There are two general varieties of version control: centralized and distributed. Distributed version control is more modern, runs faster, is less prone to errors, has more features, and is somewhat more complex to understand. You will need to decide whether the extra complexity is worthwhile for you. <br />Some popular version control systems are Git (distributed), Mercurial (distributed), and Subversion (centralized). <br />The main difference between centralized and distributed version control is the number of repositories. In centralized version control, there is just one repository, and in distributed version control, there are multiple repositories. Here are pictures of the typical arrangements: <br /> <br />In centralized version control, each user gets his or her own working copy, but there is just one central repository. As soon as you commit, it is possible for your co-workers to update and to see your changes. For others to see your changes, 2 things must happen: <br /> • You commit <br /> • They update <br />In distributed version control, each user gets his or her own repository and working copy. After you commit, others have no access to your changes until you push your changes to the central repository. When you update, you do not get others' changes unless you have first pulled those changes into your repository. For others to see your changes, 4 things must happen: <br /> • You commit <br /> • You push <br /> • They pull <br /> • They update <br />Notice that the commit and update commands only move changes between the working copy and the local repository, without affecting any other repository. By contrast, the push and pull commands move changes between the local repository and the central repository, without affecting your working copy<br />The benefits of distributed version control are:<br /> • More powerful and easy change tracking.<br /> • No need of a centralized server. Most of the functionalities work in offline mode also apart from sharing the repositories.<br /> • Branching and Merging strategies are more easy and reliable.<br /> • It’s faster than the other one.<br />Though we have drawbacks:<br /> • It is harder to understand.<br /> • It’s new, so less GUI clients.<br /> • It is easier to make mistakes until you are familiar with the model.<br /><br /><br />Version Control Tools<br />There are many version control tools:<br />1. Project Revision Control System (PRCS)<br />2. Source Code Control System(SCCS)<br />3. Revision Control System (RCS)<br />4. Concurrent Version System (CVS)<br /><br />1. Project Revision Control System(PRCS)<br />The Project Revision Control System, PRCS, is the front end to a set of tools that (like CVS) provide a way to deal with sets of files and directories as an entity, preserving coherent versions of the entire set. <br />Abstractly, PRCS presents you ("the user") with the abstraction of named projects that have multiple (project) versions, each of which is a set of files, arranged into a directory subtree. A project is the collection of all project versions of that project. Each project version contains one distinguished file, called the (project) version descriptor, in the top directory of the subtree, which contains a description of the files included in that particular version.<br />Its purpose is similar to that of SCCS, RCS and CVS, but it is much simpler than any of those system.<br />2. Source Code Control System (SCCS)<br />Source Code Control System (SCCS) is a version control system designed to track changes in source code and other text files during the development of a piece of software. This allows the user to retrieve any of the previous versions of the original source code and the changes which are stored. It was originally developed at Bell Labs beginning in late 1972 by Marc Rochkind for an IBM System/370 computer running OS/360.[1] <br />3. Concurrent Version System (CVS)<br />Concurrent Versions System (CVS, also known as the Concurrent Versioning System) is a revision control system originally developed by Dick Grune in July 1986.[1] <br />CVS operates as a front end to RCS, an earlier system which operates on single files. It expands upon RCS by adding support for repository-level change tracking, and a client-server model.[2] <br />4. Revision Control Systems (RCS)<br />RCS was designed at the Department of Computer Science at Purdue University in 1982. RCS is a software tool for UNIX systems which lets people working on the system comtrol “multiple revisions of text … that is revised frequently, such as programs or documentation”. It can be applied to development situations of all sorts including the creation of documents, drawings, forms, articles and of course source code. <br />Basic Git Workflow<br />In general, the basic routine is:<br />Update your local repository with<br />git clone... or git pull<br />Edit the files locally, then<br />git add...<br /><br />git commit...<br /><br />git push...<br /> <br /><br /><br /><br /><br /><br /><br /><br /><br /><br />Let’s go through the basic commands!<br />Always remember Git has good built in help, so add --help to any command to learn more.<br />git clone<br />To copy a repository from GitHub, use git clone. Go to your GitHub repository, click the green “Clone or download” button, and copy the URL. In your terminal, navigate to your desired location (I suggest a folder named “GitHub” in your Documents directory). Type git clone and paste in your URL (right click or shift+Ctrl+V). For example:<br />git clone https://github.com/uidaholib/gitworkshop.git<br />Clone will download a full copy of the repository to your local machine and record its origin on GitHub (if you get an error on Git Bash, check this note). This ensures there is a connection so you can push your changes to GitHub or fetch updates. Your clone has the complete history stored in the hidden .git directory.<br />git status<br />Git status is your friend. Type it often!<br />git status<br />Create a new file in your repository using a text editor, or the command line:<br />echo "some interesting notes" > notes.txt<br />Then check the status again!<br />git add<br />Once you have made changes in your repository, you need to tell Git to start tracking the file. The function git add adds the files to the “staging area”, meaning Git is now tracking the changes.<br />git add notes.txt<br /><br />git status<br />git commit<br />We changed a file, we added it to the staging area, and now we are ready to take a snapshot storing away these changes forever! Let’s commit!<br />Each commit records a snapshot of the state of the full repository along with the name, timestamp, and message of the committer. A message is required! It is your note to posterity so you can remember why you made changes in the future (for style tips, see The Art of the Commit).<br />git commit -m "add notes file"<br /><br />git status<br />We have stored away a new version of the documents in the repository and will be able to navigate this history. Make many smaller focused commits, rather than big ones, since small changes will be easier to undo, review, and merge.<br />The -m flag adds the message on the command line. If you do not include a message, Git will open your default text editor and wait for you to enter and save a message.<br />Repeat!<br />You will use add, commit, and status over and over!<br />Git add fills the staging area.<br />Git commit takes the snapshot of changes in the staging area.<br />Edit a file in your test repository and repeat the routine.<br />git add notes.txt<br /><br />git commit -m "more notes"<br /><br />git status<br />git push<br />Notice that git status now says “your branch is ahead of origin/master”. Origin/master is the standard way to name the main branch of the remote repository. We finished our changes to the repository locally, now we have to add them to the version hosted on GitHub using push.<br />git push origin master<br />git push<br />Push sends only the changes, so it is very efficient network use.<br />Review<br />git status<br /><br />git pull<br /><br />git add file.txt<br /><br />git commit -m "message"<br /><br />git push <br />Depending on your workflow, you may want to git fetch rather than pull. git fetch = update repository from remote. git pull = fetch + merge, i.e. update from remote and combine with local work.<br />CI/CD defined<br />Continuous integration is a coding philosophy and set of practices that drive development teams to implement small changes and check in code to version control repositories frequently. Because most modern applications require developing code in different platforms and tools, the team needs a mechanism to integrate and validate its changes.<br />The technical goal of CI is to establish a consistent and automated way to build, package, and test applications. With consistency in the integration process in place, teams are more likely to commit code changes more frequently, which leads to better collaboration and software quality.<br />Continuous delivery picks up where continuous integration ends. CD automates the delivery of applications to selected infrastructure environments. Most teams work with multiple environments other than the production, such as development and testing environments, and CD ensures there is an automated way to push code changes to them.<br />CI/CD tools help store the environment-specific parameters that must be packaged with each delivery. CI/CD automation then performs any necessary service calls to web servers, databases, and other services that may need to be restarted or follow other procedures when applications are deployed.<br />Continuous integration and continuous delivery require continuous testing because the objective is to deliver quality applications and code to users. Continuous testing is often implemented as a set of automated regression, performance, and other tests that are executed in the CI/CD pipeline.<br /><br />How continuous integration improves collaboration and quality<br />Continuous integration is a development philosophy backed by process mechanics and some automation. When practicing CI, developers commit their code into the version control repository frequently and most teams have a minimal standard of committing code at least daily. The rationale behind this is that it’s easier to identify defects and other software quality issues on smaller code differentials rather than larger ones developed over extensive period of times. In addition, when developers work on shorter commit cycles, it is less likely for multiple developers to be editing the same code and requiring a merge when committing.<br />Teams implementing continuous integration often start with version control configuration and practice definitions. Even though checking in code is done frequently, features and fixes are implemented on both short and longer time frames. Development teams practicing continuous integration use different techniques to control what features and code are ready for production.<br />→ Frequent Commits helps to identify errors and bugs quickly.<br />→ Avoid merging Conflicts as there is shorter commit cycles.<br /><br /><br />Continuous Delivery is the ability to get changes of all types—including new features, configuration changes, bug fixes and experiments—into production, or into the hands of users, safely and quickly in a sustainable way. We achieve all this by ensuring our code is always in a deployable state, even in the face of teams of thousands of developers making changes on a daily basis.<br /><br /><br /><br /><br /><br /><br /><br /><br /><br />Benefits of continuous integration-continuous deployment (CI-CD)<br /><br /> • Smaller code changes are simpler (more atomic) and have fewer unintended consequences. <br /> • Fault isolation is simpler and quicker. <br /> • Mean time to resolution (MTTR) is shorter because of the smaller code changes and quicker fault isolation. <br /> • Testability improves due to smaller, specific changes. These smaller changes allow more accurate positive and negative tests. <br /> • Elapsed time to detect and correct production escapes is shorter with a faster rate of release. <br /> • The backlog of non-critical defects is lower because defects are often fixed before other feature pressures arise. <br /> • The product improves rapidly through fast feature introduction and fast turn-around on feature changes. <br /> • Upgrades introduce smaller units of change and are less disruptive. <br /> • CI-CD product feature velocity is high. The high velocity improves the time spent investigating and patching defects. <br /> • Feature toggles and blue-green deploys enable seamless, targeted introduction of new production features.<br /> • You can introduce critical changes during non-critical (regional) hours. This non-critical hour change introduction limits the potential impact of a deployment problem. <br /> • Release cycles are shorter with targeted releases and this blocks fewer features that aren’t ready for release. <br /> • End-user involvement and feedback during continuous development leads to usability improvements. You can add new requirements based on customer’s needs on a daily basis. <br />Martin Fowler<br />Practices of Continuous Integration <br /> • Maintain a Single Source Repository. <br /> • Automate the Build <br /> • Make Your Build Self-Testing <br /> • Everyone Commits To the Mainline Every Day <br /> • Every Commit Should Build the Mainline on an Integration Machine <br /> • Fix Broken Builds Immediately <br /> • Keep the Build Fast <br /> • Test in a Clone of the Production Environment <br /> • Make it Easy for Anyone to Get the Latest Executable <br /> • Everyone can see what's happening <br /> • Automate Deployment <br /><br /><br />5 Steps to continuous integration<br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br />Concurrent Versions System (CVS) is a tool for managing collaborative software development. It enables groups of coders working on the same set of source files to coordinate and integrate the changes they make to the code, and acts as a repository to store all those changes. If, for example, two different programmers alter the same section of code, CVS can compare both versions and show that there is a difference between them (known as a “conflict” in CVS) that needs resolved or “merged.” Another feature of the system is to keep an historical record of the project’s development over time, enabling people to retrieve earlier versions. It also supports the possibility of the code “branching,” meaning that alternative versions of the same code can be split off from the main project and maintained in parallel without causing conflicts. If someone wants to experiment with re-writing a certain section of a project, they can do so in a new branch while everyone else continues to use the main branch unaffected by the experiment.<br />1.3.1 Getting the source<br />The first thing you must do is to get your own working copy of the source for ‘tc’. For this, you use the checkout command: <br />$ cvs checkout tc<br />This will create a new directory called tc and populate it with the source files. <br />$ cd tc<br />$ ls<br />CVS Makefile backend.c driver.c frontend.c parser.c<br />1.3.2 Committing your changes<br />When you have checked that the compiler is still compilable you decide to make a new version of backend.c. This will store your new backend.c in the repository and make it available to anyone else who is using that same repository. <br />$ cvs commit backend.c<br />1.3.3 Cleaning up<br />Before you turn to other tasks you decide to remove your working copy of tc. <br />$ cd ..<br />$ cvs release -d tc<br />M driver.c<br />? tc<br />You have [1] altered files in this repository.<br />Are you sure you want to release (and delete) directory `tc': n<br />** `release' aborted by user choice.<br />The release command checks that all your modifications have been committed. If history logging is enabled it also makes a note in the history file. <br />1.3.4 Viewing differences<br />You do not remember modifying driver.c, so you want to see what has happened to that file. <br />$ cd tc<br />$ cvs diff driver.c<br />This command runs diff to compare the version of driver.c that you checked out with your working copy. When you see the output you remember that you added a command line option that enabled the optimization pass. You check it in, and release the module. <br />$ cvs commit -m "Added an optimization pass" driver.c<br />Checking in driver.c;<br />/usr/local/cvsroot/tc/driver.c,v <-- driver.c<br />new revision: 1.2; previous revision: 1.1<br />done<br />$ cd ..<br />$ cvs release -d tc<br />? tc<br />You have [0] altered files in this repository.<br />Are you sure you want to release (and delete) directory `tc': y<br /><br />Some basic words or descriptions<br />Versions, revisions, releases<br />A file can have several versions; likewise, a software product can have several versions. A software product is often given a version number such as 2.2.1. Versions in the first sense are called revisions here, and the versions in the second sense are called releases. To avoid confusion, the word version is almost avoided.<br />Repository<br />The repository is the directory, which stores the master copies of the files. The main or master repository is a tree of directories.<br />Modules<br />It is a specific directory (or mini-tree of directories) in the main repository. Modules are defined in the CVS modules file.<br /><br />Software testing is a process of investigation. A tester pushes your software through a great variety of tests to catch any hidden errors, unpredictable behavior, or functional inconsistencies. After every test, a tester files a detailed report that helps developers fix all the exposed issues, maintain the software error-free, and make sure it runs as intended.<br />1. JBehave <br />JBehave is an incredible and one of the best Java testing frameworks that supports BDD (Behaviour-Driven Development). BDD is an evolution of TDD (Test-Driven Development) and ATDD (Acceptance Test-Driven Development). <br />Behaviour-Driven Development is intended to make these practices insightful and more accessible for both beginners and specialists. It shifts the terms to behaviour-based from being test-based, and sets itself as a design paradigm, highlighting communication, and automation alike.<br />Features<br />JBehave distributions<br />Core distributions of Jbehave are:<br /> • JBehave Web <br /> • JBehave Core <br />Pros<br />JBehave BDD testing framework is also beneficial in multiple ways.<br /> • Products have superior specifications because of the fact that this testing framework for Java features reasoning, and intuitiveness in a detailed way. <br /> • Serves a great purpose for BDD by offering integration among distinct development teams engaged with varied projects yet similar specifics. <br /> • JBehave framework uses a semi-formal language which is a great help for developers. Having a domain vocabulary feature aids in managing consistency in the team structure. <br /> • Even, stakeholders, as well as project managers, get better transparency regarding the QA teams & dev team productivity as the specs have the same format. <br />Cons<br />There is only one loophole or con of JBehave just like any other BDD testing framework.<br /> • BDD testing framework or tool success rate mostly comes down to significant communication carried out among members working in a project. It can be between the management team, the testers, the developers, and the stakeholders. <br />Improper communication may lead to unanswered doubts and queries. In the end this can lead to a flaw-filled app or an app not meeting up to client requirements, resulting in a blame game between all the involved parties.<br />What is Testing?<br />Testing is the process of evaluating a system or its component(s) with the intent to find whether it satisfies the specified requirements or not. In simple words, testing is executing a system in order to identify any gaps, errors, or missing requirements in contrary to the actual requirements.<br />According to ANSI/IEEE 1059 standard, Testing can be defined as - A process of analyzing a software item to detect the differences between existing and required conditions (that is defects/errors/bugs) and to evaluate the features of the software item.<br />Who does Testing?<br />It depends on the process and the associated stakeholders of the project(s). In the IT industry, large companies have a team with responsibilities to evaluate the developed software in context of the given requirements. Moreover, developers also conduct testing which is called Unit Testing. In most cases, the following professionals are involved in testing a system within their respective capacities −<br /> • Software Tester <br /> • Software Developer <br /> • Project Lead/Manager <br /> • End User <br />Different companies have different designations for people who test the software on the basis of their experience and knowledge such as Software Tester, Software Quality Assurance Engineer, QA Analyst, etc.<br />It is not possible to test the software at any time during its cycle. The next two sections state when testing should be started and when to end it during the SDLC.<br />When to Start Testing?<br />An early start to testing reduces the cost and time to rework and produce error-free software that is delivered to the client. However in Software Development Life Cycle (SDLC), testing can be started from the Requirements Gathering phase and continued till the deployment of the software.<br />It also depends on the development model that is being used. For example, in the Waterfall model, formal testing is conducted in the testing phase; but in the incremental model, testing is performed at the end of every increment/iteration and the whole application is tested at the end.<br />Testing is done in different forms at every phase of SDLC −<br /> • During the requirement gathering phase, the analysis and verification of requirements are also considered as testing.<br /> • Reviewing the design in the design phase with the intent to improve the design is also considered as testing.<br /> • Testing performed by a developer on completion of the code is also categorized as testing.<br />When to Stop Testing?<br />It is difficult to determine when to stop testing, as testing is a never-ending process and no one can claim that a software is 100% tested. The following aspects are to be considered for stopping the testing process −<br /> • Testing Deadlines<br /> • Completion of test case execution<br /> • Completion of functional and code coverage to a certain point<br /> • Bug rate falls below a certain level and no high-priority bugs are identified<br /> • Management decision<br />Verification & Validation<br />These two terms are very confusing for most people, who use them interchangeably. The following table highlights the differences between verification and validation.<br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br />This section describes the different types of testing that may be used to test a software during SDLC.<br />Manual Testing<br />Manual testing includes testing a software manually, i.e., without using any automated tool or any script. In this type, the tester takes over the role of an end-user and tests the software to identify any unexpected behavior or bug. There are different stages for manual testing such as unit testing, integration testing, system testing, and user acceptance testing.<br />Testers use test plans, test cases, or test scenarios to test a software to ensure the completeness of testing. Manual testing also includes exploratory testing, as testers explore the software to identify errors in it.<br />Automation Testing<br />Automation testing, which is also known as Test Automation, is when the tester writes scripts and uses another software to test the product. This process involves automation of a manual process. Automation Testing is used to re-run the test scenarios that were performed manually, quickly, and repeatedly.<br /> <br />Apart from regression testing, automation testing is also used to test the application from load, performance, and stress point of view. It increases the test coverage, improves accuracy, and saves time and money in comparison to manual testing.<br />What to Automate?<br />It is not possible to automate everything in a software. The areas at which a user can make transactions such as the login form or registration forms, any area where large number of users can access the software simultaneously should be automated.<br />Furthermore, all GUI items, connections with databases, field validations, etc. can be efficiently tested by automating the manual process.<br />When to Automate?<br />Test Automation should be used by considering the following aspects of a software −<br /> • Large and critical projects <br /> • Projects that require testing the same areas frequently <br /> • Requirements not changing frequently <br /> • Accessing the application for load and performance with many virtual users <br /> • Stable software with respect to manual testing <br /> • Availability of time <br />How to Automate?<br />Automation is done by using a supportive computer language like VB scripting and an automated software application. There are many tools available that can be used to write automation scripts. Before mentioning the tools, let us identify the process that can be used to automate the testing process −<br /> • Identifying areas within a software for automation <br /> • Selection of appropriate tool for test automation <br /> • Writing test scripts <br /> • Development of test suits <br /> • Execution of scripts <br /> • Create result reports <br /> • Identify any potential bug or performance issues <br />Software Testing Tools<br />The following tools can be used for automation testing −<br /> • HP Quick Test Professional <br /> • Selenium <br /> • IBM Rational Functional Tester <br /> • SilkTest <br /> • TestComplete <br /> • Testing Anywhere <br /> • WinRunner <br /> • LoadRunner <br /> • Visual Studio Test Professional <br /> • WATIR <br /><br />There are different methods that can be used for software testing. This chapter briefly describes the methods available.<br />Black-Box Testing<br />The technique of testing without having any knowledge of the interior workings of the application is called black-box testing. The tester is oblivious to the system architecture and does not have access to the source code. Typically, while performing a black-box test, a tester will interact with the system's user interface by providing inputs and examining outputs without knowing how and where the inputs are worked upon.<br />The following table lists the advantages and disadvantages of black-box testing.<br />Advantages<br />Disadvantages<br />Well suited and efficient for large code segments.<br />Limited coverage, since only a selected number of test scenarios is actually performed.<br />Code access is not required.<br />Inefficient testing, due to the fact that the tester only has limited knowledge about an application.<br />Clearly separates user's perspective from the developer's perspective through visibly defined roles.<br />Blind coverage, since the tester cannot target specific code segments or error-prone areas.<br />Large numbers of moderately skilled testers can test the application with no knowledge of implementation, programming language, or operating systems.<br />The test cases are difficult to design.<br />White-Box Testing<br />White-box testing is the detailed investigation of internal logic and structure of the code. White-box testing is also called glass testing or open-box testing. In order to perform white-box testing on an application, a tester needs to know the internal workings of the code.<br />The tester needs to have a look inside the source code and find out which unit/chunk of the code is behaving inappropriately.<br />The following table lists the advantages and disadvantages of white-box testing.<br />Advantages<br />Disadvantages<br />As the tester has knowledge of the source code, it becomes very easy to find out which type of data can help in testing the application effectively.<br />Due to the fact that a skilled tester is needed to perform white-box testing, the costs are increased.<br />It helps in optimizing the code.<br />Sometimes it is impossible to look into every nook and corner to find out hidden errors that may create problems, as many paths will go untested.<br />Extra lines of code can be removed which can bring in hidden defects.<br />It is difficult to maintain white-box testing, as it requires specialized tools like code analyzers and debugging tools.<br />Due to the tester's knowledge about the code, maximum coverage is attained during test scenario writing.<br /><br />Grey-Box Testing<br />Grey-box testing is a technique to test the application with having a limited knowledge of the internal workings of an application. In software testing, the phrase the more you know, the better carries a lot of weight while testing an application.<br />Mastering the domain of a system always gives the tester an edge over someone with limited domain knowledge. Unlike black-box testing, where the tester only tests the application's user interface; in grey-box testing, the tester has access to design documents and the database. Having this knowledge, a tester can prepare better test data and test scenarios while making a test plan.<br />Advantages<br />Disadvantages<br />Offers combined benefits of black-box and white-box testing wherever possible.<br />Since the access to source code is not available, the ability to go over the code and test coverage is limited.<br />Grey box testers don't rely on the source code; instead they rely on interface definition and functional specifications.<br />The tests can be redundant if the software designer has already run a test case.<br />Based on the limited information available, a grey-box tester can design excellent test scenarios especially around communication protocols and data type handling.<br />Testing every possible input stream is unrealistic because it would take an unreasonable amount of time; therefore, many program paths will go untested.<br />The test is done from the point of view of the user and not the designer.<br /><br />A Comparison of Testing Methods<br />The following table lists the points that differentiate black-box testing, grey-box testing, and white-box testing.<br />Black-Box Testing<br />Grey-Box Testing<br />White-Box Testing<br />The internal workings of an application need not be known.<br />The tester has limited knowledge of the internal workings of the application.<br />Tester has full knowledge of the internal workings of the application.<br />Also known as closed-box testing, data-driven testing, or functional testing.<br />Also known as translucent testing, as the tester has limited knowledge of the insides of the application.<br />Also known as clear-box testing, structural testing, or code-based testing.<br />Performed by end-users and also by testers and developers.<br />Performed by end-users and also by testers and developers.<br />Normally done by testers and developers.<br />Testing is based on external expectations - Internal behavior of the application is unknown.<br />Testing is done on the basis of high-level database diagrams and data flow diagrams.<br />Internal workings are fully known and the tester can design test data accordingly.<br />It is exhaustive and the least time-consuming.<br />Partly time-consuming and exhaustive.<br />The most exhaustive and time-consuming type of testing.<br />Not suited for algorithm testing.<br />Not suited for algorithm testing.<br />Suited for algorithm testing.<br />This can only be done by trial-and-error method.<br />Data domains and internal boundaries can be tested, if known.<br />Data domains and internal boundaries can be better tested.<br /><br /><br /><br /><br /><br /><br />There are different levels during the process of testing. In this chapter, a brief description is provided about these levels.<br />Levels of testing include different methodologies that can be used while conducting software testing. The main levels of software testing are −<br /> • Functional Testing<br /> • Non-functional Testing<br /><br />Functional Testing<br />This is a type of black-box testing that is based on the specifications of the software that is to be tested. The application is tested by providing input and then the results are examined that need to conform to the functionality it was intended for. Functional testing of a software is conducted on a complete, integrated system to evaluate the system's compliance with its specified requirements.<br />There are five steps that are involved while testing an application for functionality.<br />Steps<br />Description<br />I<br />The determination of the functionality that the intended application is meant to perform.<br />II<br />The creation of test data based on the specifications of the application.<br />III<br />The output based on the test data and the specifications of the application.<br />IV<br />The writing of test scenarios and the execution of test cases.<br />V<br />The comparison of actual and expected results based on the executed test cases.<br />An effective testing practice will see the above steps applied to the testing policies of every organization and hence it will make sure that the organization maintains the strictest of standards when it comes to software quality.<br />Unit Testing<br />This type of testing is performed by developers before the setup is handed over to the testing team to formally execute the test cases. Unit testing is performed by the respective developers on the individual units of source code assigned areas. The developers use test data that is different from the test data of the quality assurance team.<br />The goal of unit testing is to isolate each part of the program and show that individual parts are correct in terms of requirements and functionality.<br />Limitations of Unit Testing<br />Testing cannot catch each and every bug in an application. It is impossible to evaluate every execution path in every software application. The same is the case with unit testing.<br />There is a limit to the number of scenarios and test data that a developer can use to verify a source code. After having exhausted all the options, there is no choice but to stop unit testing and merge the code segment with other units.<br />Integration Testing<br />Integration testing is defined as the testing of combined parts of an application to determine if they function correctly. Integration testing can be done in two ways: Bottom-up integration testing and Top-down integration testing.<br />Sr.No.<br />Integration Testing Method<br />1<br />Bottom-up integration<br />This testing begins with unit testing, followed by tests of progressively higher-level combinations of units called modules or builds.<br />2<br />Top-down integration<br />In this testing, the highest-level modules are tested first and progressively, lower-level modules are tested thereafter.<br />In a comprehensive software development environment, bottom-up testing is usually done first, followed by top-down testing. The process concludes with multiple tests of the complete application, preferably in scenarios designed to mimic actual situations.<br />System Testing<br />System testing tests the system as a whole. Once all the components are integrated, the application as a whole is tested rigorously to see that it meets the specified Quality Standards. This type of testing is performed by a specialized testing team.<br />System testing is important because of the following reasons −<br /> • System testing is the first step in the Software Development Life Cycle, where the application is tested as a whole.<br /> • The application is tested thoroughly to verify that it meets the functional and technical specifications.<br /> • The application is tested in an environment that is very close to the production environment where the application will be deployed.<br /> • System testing enables us to test, verify, and validate both the business requirements as well as the application architecture.<br />Regression Testing<br />Whenever a change in a software application is made, it is quite possible that other areas within the application have been affected by this change. Regression testing is performed to verify that a fixed bug hasn't resulted in another functionality or business rule violation. The intent of regression testing is to ensure that a change, such as a bug fix should not result in another fault being uncovered in the application.<br />Regression testing is important because of the following reasons −<br /> • Minimize the gaps in testing when an application with changes made has to be tested.<br /> • Testing the new changes to verify that the changes made did not affect any other area of the application.<br /> • Mitigates risks when regression testing is performed on the application.<br /> • Test coverage is increased without compromising timelines.<br /> • Increase speed to market the product.<br />Acceptance Testing<br />This is arguably the most important type of testing, as it is conducted by the Quality Assurance Team who will gauge whether the application meets the intended specifications and satisfies the client’s requirement. The QA team will have a set of pre-written scenarios and test cases that will be used to test the application.<br />More ideas will be shared about the application and more tests can be performed on it to gauge its accuracy and the reasons why the project was initiated. Acceptance tests are not only intended to point out simple spelling mistakes, cosmetic errors, or interface gaps, but also to point out any bugs in the application that will result in system crashes or major errors in the application.<br />By performing acceptance tests on an application, the testing team will reduce how the application will perform in production. There are also legal and contractual requirements for acceptance of the system.<br />Alpha Testing<br />This test is the first stage of testing and will be performed amongst the teams (developer and QA teams). Unit testing, integration testing and system testing when combined together is known as alpha testing. During this phase, the following aspects will be tested in the application −<br /> • Spelling Mistakes<br /> • Broken Links<br /> • Cloudy Directions<br /> • The Application will be tested on machines with the lowest specification to test loading times and any latency problems.<br />Beta Testing<br />This test is performed after alpha testing has been successfully performed. In beta testing, a sample of the intended audience tests the application. Beta testing is also known as pre-release testing. Beta test versions of software are ideally distributed to a wide audience on the Web, partly to give the program a "real-world" test and partly to provide a preview of the next release. In this phase, the audience will be testing the following −<br /> • Users will install, run the application and send their feedback to the project team.<br /> • Typographical errors, confusing application flow, and even crashes.<br /> • Getting the feedback, the project team can fix the problems before releasing the software to the actual users.<br /> • The more issues you fix that solve real user problems, the higher the quality of your application will be.<br /> • Having a higher-quality application when you release it to the general public will increase customer satisfaction.<br />Non-Functional Testing<br />This section is based upon testing an application from its non-functional attributes. Non-functional testing involves testing a software from the requirements which are nonfunctional in nature but important such as performance, security, user interface, etc.<br />Some of the important and commonly used non-functional testing types are discussed below.<br />Performance Testing<br />It is mostly used to identify any bottlenecks or performance issues rather than finding bugs in a software. There are different causes that contribute in lowering the performance of a software −<br /> • Network delay<br /> • Client-side processing<br /> • Database transaction processing<br /> • Load balancing between servers<br /> • Data rendering<br />Performance testing is considered as one of the important and mandatory testing type in terms of the following aspects −<br /> • Speed (i.e. Response Time, data rendering and accessing)<br /> • Capacity<br /> • Stability<br /> • Scalability<br />Performance testing can be either qualitative or quantitative and can be divided into different sub-types such as Load testing and Stress testing.<br />Load Testing<br />It is a process of testing the behavior of a software by applying maximum load in terms of software accessing and manipulating large input data. It can be done at both normal and peak load conditions. This type of testing identifies the maximum capacity of software and its behavior at peak time.<br />Most of the time, load testing is performed with the help of automated tools such as Load Runner, AppLoader, IBM Rational Performance Tester, Apache JMeter, Silk Performer, Visual Studio Load Test, etc.<br />Virtual users (VUsers) are defined in the automated testing tool and the script is executed to verify the load testing for the software. The number of users can be increased or decreased concurrently or incrementally based upon the requirements.<br />Stress Testing<br />Stress testing includes testing the behavior of a software under abnormal conditions. For example, it may include taking away some resources or applying a load beyond the actual load limit.<br />The aim of stress testing is to test the software by applying the load to the system and taking over the resources used by the software to identify the breaking point. This testing can be performed by testing different scenarios such as −<br /> • Shutdown or restart of network ports randomly<br /> • Turning the database on or off<br /> • Running different processes that consume resources such as CPU, memory, server, etc.<br />Usability Testing<br />Usability testing is a black-box technique and is used to identify any error(s) and improvements in the software by observing the users through their usage and operation.<br />According to Nielsen, usability can be defined in terms of five factors, i.e. efficiency of use, learn-ability, memory-ability, errors/safety, and satisfaction. According to him, the usability of a product will be good and the system is usable if it possesses the above factors.<br />Nigel Bevan and Macleod considered that usability is the quality requirement that can be measured as the outcome of interactions with a computer system. This requirement can be fulfilled and the end-user will be satisfied if the intended goals are achieved effectively with the use of proper resources.<br />Molich in 2000 stated that a user-friendly system should fulfill the following five goals, i.e., easy to Learn, easy to remember, efficient to use, satisfactory to use, and easy to understand.<br />In addition to the different definitions of usability, there are some standards and quality models and methods that define usability in the form of attributes and sub-attributes such as ISO-9126, ISO-9241-11, ISO-13407, and IEEE std.610.12, etc.<br />UI vs Usability Testing<br />UI testing involves testing the Graphical User Interface of the Software. UI testing ensures that the GUI functions according to the requirements and tested in terms of color, alignment, size, and other properties.<br />On the other hand, usability testing ensures a good and user-friendly GUI that can be easily handled. UI testing can be considered as a sub-part of usability testing.<br />Security Testing<br />Security testing involves testing a software in order to identify any flaws and gaps from security and vulnerability point of view. Listed below are the main aspects that security testing should ensure −<br /> • Confidentiality<br /> • Integrity<br /> • Authentication<br /> • Availability<br /> • Authorization<br /> • Non-repudiation<br /> • Software is secure against known and unknown vulnerabilities<br /> • Software data is secure<br /> • Software is according to all security regulations<br /> • Input checking and validation<br /> • SQL insertion attacks<br /> • Injection flaws<br /> • Session management issues<br /> • Cross-site scripting attacks<br /> • Buffer overflows vulnerabilities<br /> • Directory traversal attacks<br />Portability Testing<br />Portability testing includes testing a software with the aim to ensure its reusability and that it can be moved from another software as well. Following are the strategies that can be used for portability testing −<br /> • Transferring an installed software from one computer to another.<br /> • Building executable (.exe) to run the software on different platforms.<br />Portability testing can be considered as one of the sub-parts of system testing, as this testing type includes overall testing of a software with respect to its usage over different environments. Computer hardware, operating systems, and browsers are the major focus of portability testing. Some of the pre-conditions for portability testing are as follows −<br /> • Software should be designed and coded, keeping in mind the portability requirements.<br /> • Unit testing has been performed on the associated components.<br /> • Integration testing has been performed.<br /> • Test environment has been established.<br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br />UML Use Case Diagram<br /><br /><br /><br /><br /><br />Design Pattern<br />According to Gang of Four (GOF) definition of design patterns:<br />“In Software Engineering, a software design pattern is a general reusable solution to a commonly occurring problem within a given context in software design. Design patterns are formalized best practices that the programmer can use to solve common problems when designing an application or system.”<br /><br />Design patterns are formalized solutions to common programming problems. They mostly refer to object oriented programming, but some of solutions can be applied in various paradigms.<br />Importance of Design Patterns:<br />1. Off-the-shelf solution-forms for the common problem-forms.<br />2. Teaches how to solve all sorts of problems using the principles of object-oriented design.<br />3. Helps in learning design and rationale behind project, enhances communication and insight.<br />4. Reusing design patterns helps to prevent subtle issues that can cause major problems.<br />5. Improves code readability for coders and architects familiar with the patterns.<br />6. Design patterns provide general solutions, documented in a format that doesn't require specifics<br />tied to a particular problem.<br />7. Speed up the development process by providing well tested, proven development/design<br />paradigm.<br />Pattern Documentation<br />1. Pattern Name and Classification: A descriptive and unique name that helps in identifying and referring to the pattern.<br />2. Intent: A description of the goal behind the pattern and the reason for using it.<br />3. Also Known As: Other names for the pattern.<br />4. Motivation (Forces): A scenario consisting of a problem and a context in which the pattern can be used.<br />5. Applicability: Situations in which the pattern is usable.<br />6. Structure: A graphical representation of pattern.<br />7. Participants: A listing of the classes and objects used in the pattern and their roles in the design.<br />8. Implementation: A description of an implementation of the pattern; the solution of the pattern.<br />9. Sample Code: An illustration of how the pattern can be used in a programming language.<br />10. Known Uses: Examples of real usages of the pattern.<br />11. Related Patterns: Other patterns that have some relationship with the pattern.<br /><br />Classification of Design Patterns <br />Design patterns were originally classified into three types:<br />1. Creational Patterns<br />Creational design patterns are design patterns that deal with object creation mechanisms, trying to create objects in a manner suitable to the solution.<br />- Abstract Factory: Creates an instance of several families of classes<br />- Builder: Separates object construction from its representation.<br />- Factory Method: Creates an instance of several derived classes<br />- Prototype: A fully initialized instance to be copied or cloned.<br />- Singleton: A class of which only a single instance can exist.<br />2. Structural Patterns<br />Structural Design patterns are design patterns that ease the design by identifying a simple way to realise relationships between entities.<br />- Adapter: Match interfaces of different classes<br />- Bridge: Separates an object’s interface from its implementation<br />- Composite: A tree structure of simple and composite objects<br />- Decorator: Add responsibilities to objects dynamically.<br />- Facade: A single class tha represents an entire subsystems.<br />- Flyweight: A fine-grained instance used for efficient sharing.<br />- Proxy: An object representing another object.<br />3. Behavioral Patterns<br />Behavioral design patterns that identify common communication patterns between objects and realise these patterns.<br />- Chain of Responsibility: A way of passing a request between a chain of objects.<br />- Command: Encapsulate a command request as an object intepreter.<br />- Iterator: Sequentially access the elements of a collection.<br />- Mediator: Defines simplified communication between classes.<br />- Memento: Capture and restore an objects internal state.<br />- Observer: A way of notifying change to a number of classes.<br />- Template Method: Defer the exact step of an algorithm to a subclass.<br />- Visitor: Defines a new operation to a class without change.<br /><br /><br />A fourth has since been added<br />4. Concurrency Patterns<br /><br /><br />Factory Pattern<br />Factory pattern is one of the most used design patterns in Java. This type of design pattern comes under creational pattern as this pattern provides one of the best ways to create an object. In factory pattern, we create object without exposing the creation logic to the client and refer to newly created object using a common interface.<br />Implementation<br />We are going to create a Shape interface and concrete classes implementing the Shape interface. A factory class ShapeFactory is defined as a next step.<br />FactoryPatternDemo our demo class will use ShapeFactory to get a Shape object. It will pass information (CIRCLE/RECTANGLE/SQUARE) to ShapeFactory to get the type of object it needs.<br /><br />Step 1 - Create an interface.<br />Shape.java<br />public interface Shape {<br /> void draw();<br />}<br />Step 2 - Create concrete classes implementing the same interface.<br />Rectangle.java<br />public class Rectangle implements Shape {<br /><br /> @Override<br /> public void draw() {<br /> System.out.println("Inside Rectangle::draw() method.");<br /> }<br />}<br />Square.java<br />public class Square implements Shape {<br /><br /> @Override<br /> public void draw() {<br /> System.out.println("Inside Square::draw() method.");<br /> }<br />}<br />Circle.java<br />public class Circle implements Shape {<br /><br /> @Override<br /> public void draw() {<br /> System.out.println("Inside Circle::draw() method.");<br /> }<br />}<br />Step 3 - Create a Factory to generate object of concrete class based on given information.<br />ShapeFactory.java<br />public class ShapeFactory {<br /> <br /> //use getShape method to get object of type shape <br /> public Shape getShape(String shapeType){<br /> if(shapeType == null){<br /> return null;<br /> } <br /> if(shapeType.equalsIgnoreCase("CIRCLE")){<br /> return new Circle();<br /> <br /> } else if(shapeType.equalsIgnoreCase("RECTANGLE")){<br /> return new Rectangle();<br /> <br /> } else if(shapeType.equalsIgnoreCase("SQUARE")){<br /> return new Square();<br /> }<br /> <br /> return null;<br /> }<br />}<br />Step 4 - Use the Factory to get object of concrete class by passing an information such as type.<br />FactoryPatternDemo.java<br />public class FactoryPatternDemo {<br /><br /> public static void main(String[] args) {<br /> ShapeFactory shapeFactory = new ShapeFactory();<br /><br /> //get an object of Circle and call its draw method.<br /> Shape shape1 = shapeFactory.getShape("CIRCLE");<br /><br /> //call draw method of Circle<br /> shape1.draw();<br /><br /> //get an object of Rectangle and call its draw method.<br /> Shape shape2 = shapeFactory.getShape("RECTANGLE");<br /><br /> //call draw method of Rectangle<br /> shape2.draw();<br /><br /> //get an object of Square and call its draw method.<br /> Shape shape3 = shapeFactory.getShape("SQUARE");<br /><br /> //call draw method of square<br /> shape3.draw();<br /> }<br />}<br />Step 5<br />Verify the output.<br />Inside Circle::draw() method.<br />Inside Rectangle::draw() method.<br />Inside Square::draw() method.<br /><br />+---------------------------+-------------------------------+<br />| Singleton | Factory |<br />+---------------------------+-------------------------------+<br />| Returns Same instance | Returns various new instances |<br />| Single Constructor hiding | Multiple Constructors expose |<br />| No interface | Interface driven |<br />| No Subclasses | Subclasses |<br />+---------------------------+-------------------------------+<br /><br />Singleton Pattern<br />Singleton pattern is one of the simplest design patterns in Java. This type of design pattern comes under creational pattern as this pattern provides one of the best ways to create an object.<br />This pattern involves a single class which is responsible to create an object while making sure that only single object gets created. This class provides a way to access its only object which can be accessed directly without need to instantiate the object of the class.<br />Implementation<br />We're going to create a SingleObject class. SingleObject class have its constructor as private and have a static instance of itself.<br />SingleObject class provides a static method to get its static instance to outside world. SingletonPatternDemo, our demo class will use SingleObject class to get a SingleObject object.<br /> <br />Step 1<br />Create a Singleton Class.<br />SingleObject.java<br />public class SingleObject {<br /><br /> //create an object of SingleObject<br /> private static SingleObject instance = new SingleObject();<br /><br /> //make the constructor private so that this class cannot be<br /> //instantiated<br /> private SingleObject(){}<br /><br /> //Get the only object available<br /> public static SingleObject getInstance(){<br /> return instance;<br /> }<br /><br /> public void showMessage(){<br /> System.out.println("Hello World!");<br /> }<br />}<br />Step 2<br />Get the only object from the singleton class.<br />SingletonPatternDemo.java<br />public class SingletonPatternDemo {<br /> public static void main(String[] args) {<br /><br /> //illegal construct<br /> //Compile Time Error: The constructor SingleObject() is not visible<br /> //SingleObject object = new SingleObject();<br /><br /> //Get the only object available<br /> SingleObject object = SingleObject.getInstance();<br /><br /> //show the message<br /> object.showMessage();<br /> }<br />}<br />Step 3<br />Verify the output.<br />Hello World!<br /><br />Singleton Database Connection<br />package com.jdbc.util; <br />import java.sql.Connection; <br />import java.sql.DriverManager; <br />import java.sql.SQLException; <br /><br />public class DatabaseConnection { <br /><br /> private static Connection con = null; <br /><br /> static<br /> { <br /> String url = "jdbc:mysql:// localhost:3306/org"; <br /> String user = "root"; <br /> String pass = "root"; <br /> try { <br /> Class.forName("com.mysql.jdbc.Driver"); <br /> con = DriverManager.getConnection(url, user, pass); <br /> } <br /> catch (ClassNotFoundException | SQLException e) { <br /> e.printStackTrace(); <br /> } <br /> } <br /> public static Connection getConnection() <br /> { <br /> return con; <br /> } <br />} <br />2. What Is Inversion of Control?<br />Inversion of Control is a principle in software engineering by which the control of objects or portions of a program is transferred to a container or framework. It's most often used in the context of object-oriented programming.<br />By contrast with traditional programming, in which our custom code makes calls to a library, IoC enables a framework to take control of the flow of a program and make calls to our custom code. To enable this, frameworks use abstractions with additional behavior built in. If we want to add our own behavior, we need to extend the classes of the framework or plugin our own classes.<br />The advantages of this architecture are:<br /> • decoupling the execution of a task from its implementation <br /> • making it easier to switch between different implementations <br /> • greater modularity of a program <br /> • greater ease in testing a program by isolating a component or mocking its dependencies and allowing components to communicate through contracts <br />Inversion of Control can be achieved through various mechanisms such as: <br />→ Using a Strategy design pattern<br />→ Using a Service Locator pattern<br />→ Using a Factory pattern, and <br />→ Using a Dependency Injection (DI) of any given below type:<br /> → A constructor injection<br /> → A setter injection<br /> → An interface injection<br />There are many key differences between constructor injection and setter injection.<br /> 1. Partial dependency: can be injected using setter injection but it is not possible by constructor. Suppose there are 3 properties in a class, having 3 arg constructor and setters methods. In such case, if you want to pass information for only one property, it is possible by setter method only. <br /> 2. Overriding: Setter injection overrides the constructor injection. If we use both constructor and setter injection, IOC container will use the setter injection. <br /> 3. Changes: We can easily change the value by setter injection. It doesn't create a new bean instance always like constructor. So setter injection is flexible than constructor injection. <br /><br />We're going to look at DI next.<br />3. What Is Dependency Injection?<br />Dependency injection is a pattern through which to implement IoC, where the control being inverted is the setting of object's dependencies.<br />The act of connecting objects with other objects, or “injecting” objects into other objects, is done by an assembler rather than by the objects themselves.<br />Here's how you would create an object dependency in traditional programming:<br />public class Store {<br /> private Item item;<br /> <br /> public Store() {<br /> item = new ItemImpl1(); <br /> }<br />}<br />In the example above, we need to instantiate an implementation of the Item interface within the Store class itself.<br />By using DI, we can rewrite the example without specifying the implementation of Item that we want:<br />public class Store {<br /> private Item item;<br /> public Store(Item item) {<br /> this.item = item;<br /> }<br />}<br />Working Together<br />Inversion of control can utilize dependency injection because a mechanism is needed in order to create the components providing the specific functionality. Other options exist and are used, e.g. activators, factory methods, etc., but frameworks don't need to reference those utility classes when framework classes can accept the dependency(ies) they need instead.<br />Examples<br />One example of these concepts at work is the plug-in framework in Reflector. The plug-ins have a great deal of control of the system even though the application didn't know anything about the plug-ins at compile time. A single method is called on each of those plug-ins, Initialize if memory serves, which passes control over to the plug-in. The framework doesn't know what they will do, it just lets them do it. Control has been taken from the main application and given to the component doing the specific work; inversion of control.<br />The application framework allows access to its functionality through a variety of service providers. A plug-in is given references to the service providers when it is created. These dependencies allow the plug-in to add its own menu items, change how files are displayed, display its own information in the appropriate panels, etc. Since the dependencies are passed by interface, the implementations can change and the changes will not break the code as long as the contract remains intact.<br />At the time, a factory method was used to create the plug-ins using configuration information, reflection and the Activator object (in .NET at least). Today, there are tools, MEF for one, that allow for a wider range of options when injecting dependencies including the ability for an application framework to accept a list of plugins as a dependency.<br /><br />Convention over configuration or Coding by convention is a simple concept that is primarily used in programming. It means that the environment in which you work (systems, libraries, language…) assumes many logical situations by default, so if you adapt to them rather than creating your own rules each time, programming becomes an easier and more productive task.<br />The goal is to decrease the number of decisions the programmer has to make and eliminate the complexity of having to configure all and each of the areas of application development. The immediate result is that you can create many more things in less time.<br />Highly successful programming environments such as Ruby on Rails are based on this concept. If you follow the established conventions, you can develop a Rails application in much less time and with many fewer lines of code than you would need developing a similar web application in Java, for example.<br />If, on the other hand, you want to ignore conventions, you can always replace them with your own code. However, since conventions are not arbitrary, but have been established by a community of high level programmers, it rarely does make sense to waste time overwriting them.<br />In fact, this concept of convention over configuration is also the basis on which any form of work that requires a certain structure rests. A working methodology like GTD (Getting Things Done), for example, provides a series of conventions for an optimal, personal organization. A concrete series of lists are recommended to be managed, a five-stages work flow is established, and six perspective levels are defined in order to understand the importance of what you do. Other aspects are defined as well, such as the ideal way to review your system or how to plan your projects.<br /><br /><br />The Convention over Configuration pattern has the following benefits and liabilities:<br /> + Allows new developers to learn a system quickly. Once developers understand the naming convention, they can quickly start developing without worrying about writing the configurations to make things work. This gives developers the impression that the framework Works Out of the Box15with little or no configuration. Frameworks that work out of the box empowers developers to quickly create prototypes for testing. Compare this to frameworks that require multiple configuration files to get the system up and running even for simple tasks. After they have become more familiar with the framework, they can write configurations for the unconventional cases. <br /> 1. + Promotes uniformity. Developers working on different projects but using the same framework can quickly grasp how different systems work since the same naming conventions are promoted throughout the framework. This helps in maintaining a ubiquitous language3 for the development team. <br /> 2. + Better dynamism. Changing the name of the class or method in the source code does not require modifying a configuration file. Since the framework does not rely on static configuration files, but rather enforces the naming conventions during runtime, changes made are automatically propagated through the application. <br />“This is the problem with conventions – they have to be continually resold to each developer. If the developer has not learned the convention or does not agree with it, then the convention will be violated. And one violation can compromise the whole structure.” -Robert C. Martin2”<br /> 1. – Requires familiarity. The naming conventions become part of the implicit knowledge of the framework. Once a set of conventions has been established, it becomes hard to change them. In fact, not following those conventions makes the system harder to use. Naming conventions have to be included in the documentation and followed consistently in code samples to avoid confusion. <br /> 2. – Larger framework. By shifting the responsibility of configuration from the developer, the framework itself has to enforce those conventions; the set of conventions has to be baked into the framework. If there are a large number of conventions that need to be supported, the framework becomes larger. Thus, only enforce clear and practical naming conventions in the framework itself. <br /> 3. – Hard to refactor existing frameworks to adopt a new naming convention. It might not be feasible to use Convention over Configuration when an existing framework has a large group of developers using it. There are currently no automated tools that can upgrade an application to use features in a newer version of the framework. So developers using a version of the framework that used an older convention cannot upgrade easily to a newer convention. The Convention over Configuration pattern is best used during the initial creation of the framework and maintained throughout updates to the framework. <br /><br />Lazy Initialization of an object means that its creation is deferred until it is first used. Lazy initialization is primarily used to improve performance, avoid wasteful computation and reduce program memory requirements. Lazy initialization is a performance optimization. It's used when data is deemed to be 'expensive' for some reason.<br /><br />These are the most common scenarios:<br />1. When you have an object that is expensive to create, and the program might not use it. For example, assume that you have in memory a Customer object that has an Orders property that contains a large area of order objects that, to be initialized, requires a database connection. If the user never asks to display the Orders or use the data in a computation, then there is no reason to use system memory or computation cycle to create it.<br /><br />Lazy initialization has two objectives: <br /> • delay an expensive operation until it's absolutely necessary <br /> • store the result of that expensive operation, such that you won't need to repeat it again.<br />Eager Initialization Lazy Initialization<br /><br />Some examples:<br />1. Suppose you have Customer object having a big array of orders to display. To display the list to the customer it is very expensive as it requires lot of hits to database. It the Customer object is initialized at the beginning of the program which later found that Customer never asks to display his orders. Now, as you can guess, it is the time for lazy initialization.<br />2. Another scenario is when an object is very expensive (takes long time to create) to create, if you would like to defer (delay) its creation due to other more expensive operations takes place. Say, your program creates many object instances when it starts, but a few are required immediately. Now lazy initialization is the time to think to increase the startup performance of the program by delaying the initialization after the required and preferred objects have been created. Let us take a small code:<br />public class Demo<br />{<br /> private Player newPlayer = new Player(); // object is created well in advance<br /> <br /> public Player getPlayer()<br /> {<br /> return newPlayer;<br /> }<br /> public static void main(String args[])<br /> {<br /> Demo d1 = new Demo();<br /> Player p1 = d1.getPlayer();<br /> }<br />}<br />When you see this above code, after knowing what is lazy initialization, definitely you say it is meaningless, as the newPlayer object is created at the startup of the program itself which may not be required later (wasting its creation time).<br />The above code is modified as follows for lazy initialization.<br />public class Demo<br />{<br /> private Player newPlayer;<br /> <br /> public Player getPlayer()<br /> {<br /> if(newPlayer == null)<br /> {<br /> newPlayer = new Player(); // object is created when asked<br /> }<br /> return newPlayer;<br /> }<br /> public static void main(String args[])<br /> {<br /> Demo d1 = new Demo();<br /> Player p1 = d1.getPlayer();<br /> }<br />}<br />In the above code, the creation of newPlayer object is delayed making sure we do not create it until it is required. <br />Knowledge of the initialization differences is useful in understanding get() vs load() and list() vs iterate().<br />Eager Initialization <br />If the program will always need an instance, or if the cost of creating the instance is not too large in terms of time/resources, the programmer can switch to eager initialization, which always creates an instance when the class is loaded into the JVM.<br /><br />Besides the obvious runtime performance advantages, there are other benefits<br />to eager initialization:<br />– Errors are identified earlier.<br />– There is a clean description of class initialization semantics.<br />– Class initialization can be precompiled in JVM-to-native (just-in-time) compilation.<br />The first question that should be answered: Why the web is suitable for developing applications? It is not a difficult question, of course. In the World Wide Web Consortium (W3C) Architecture of the Web Recommendation paper various examples are given, notably one about a user who wants to see the weather in a place where she wants to travel to. The nature of the Internet - trafficking data over protocols from network to network - is a powerful resource that make communication between different places very fast and easy. This way computer programs can be made to improve the relation between systems and people, and what is seen today is that it happened. <br />Web applications are distributed applications, and hence are at least two-tiered. They act as a special kind of client-server applications, where a large portion of the functionality is “pushed” back to the server side despite the fact that the Web does not define what is behind the server. <br /><br />The basic two parts for Web Applications<br />The Web relies strongly in the client-server model, and it uses markup languages such as HTML and XML to transfer and represent data. Under it there are many programming and scripting languages that can dynamically process, modify and generate data, or give an user interface. This way, the development of Web applications can be put under the cover of software engineering but need to be extended. Web applications are multidisciplinary (software engineering, database modeling techniques, network computing, and effective interface design). They are built in a continuously changing environment where requirements are unstable and the user community is wider than before. Web applications handle information from various sources (text, graphics, video, audio) dealing with structuring, processing, storing and presenting this information.<br />The Three Layers Model<br />The nature of the Web is layered: it has formats over protocols and uses a client-server model. Therefore, it is natural that a layered architecture would be suitable for developing to the Web. We learnt that this model overcame the two layered client-server because of its scalability. Many different approaches to the aim of developing applications with different layers had been used along the years, but a clear pattern seems to appear frequently in various of them: the Three Layers Model (according to Kappel et al. 2006).<br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br />The standard three layered architecture for Web Applications<br />This model of web application development is very similar to the Service Layer/Domain Model/Data Source Layer set of design patterns from Martin Fowler’s collection, but receiving different names . In fact, the idea ( usually named 3-tier architecture, or expanded into n-tier architecture) is very general and widespread, so in this paper only the most common assumptions and uses are examined.[1]<br />Its conception is three layers, one over the other, being the application the set of them working together. The most external of them is the View Layer, that is the visible part of the application, the one that interacts with the user. The layer in the middle is the Business Logic Layer, which serves as an intermediate between the View (or presentation) and the innermost layer, that is the Data Layer. This last one is where all the data used by the application is stored.<br />The benefits of using layered models in software development are in the way that it is easier to know exactly what each part of the application does. It makes easier to construct the application, to debug it, and to maintain and reuse the code. For example, if it is needed to exchange some details in the presentation of the content but the business rules and data models do not change, only one layer is affected. Even for more complicated changes involving all of the application architecture there are benefices, so a plan can be created in the overall but specifying exactly where the changes need to be done.<br />The View Layer<br />The outermost layer in this kind of model deals with the presentation of the content and interaction with the user. It can be called view, presentation, UI. In this layer the application shows to the user what is needed to be seen and gives the tools for interaction. The exact kind of interaction depends on the application; one can create a web app that only shows information to the user without any kind of interaction, not even hyperlinks to be clicked, but such a case does not need an advanced architecture. In most cases the user will generate some input, send it for processing and then receive a feedback, that can be the final result or a step for further operations.<br />Following the example by W3C of the user that wants to see the weather in her trip destination, the presentation is where she sees the actual content. The content display is shown, and the user can interact with the provided controls to, for example, see weather in different periods of time or another places, and see pictures of it. <br />The technologies usually involved in this layer on the web development context are mainly the markup that is processed by the browser (HTML/ XHTML/ ...), the style of the page (CSS) and client-side scripts (Javascript/ Flash/ ...). All of these tools together can produce a rich environment for user interaction and content display. Of course it can be said that server-side scripts can be used to generate content, but at the final level these scripts produce the HTML that will be shown be the browser, so this role of the development can be subdivided: the content generation is created by the business logic layer (the next topic to be discussed) and then it is passed to the view layer, maintaining the logical division of the application. The browser shows the content initially written or produced by the server-side scripts, and the client-side scripts are able to modify that content. A Javascript code, for example, can be used to validate form data or even to create drag and drop interfaces. It interacts with HTML through a DOM tree, that is a representation of the document in memory. HTML5, the present (2014) trend for web development is praised for its flexibility, specially where it touches the concept of responsiveness, that is the ability to change the content disposition according to the screen size. This matters because, in current days, the availability of a page in different screen sizes and devices is extremely important. Having many possibilities like desktops, tablets, smartphones, wearable devices and even augmented reality or voice user interface, the range of technologies and targets for the view layer is very wide, and it shows both the importance of it to the user and reinforce the need of a logical division of the application for supporting such variety. <br />This layer communicates with the business logic layer under it, passing the information from the user and controlling it, then giving back any response it produces, not leaving any decisions of the application’s logic to be resolved by the UI. This passing of information is usually done through forms, like a user log-in in a system by giving username and password, but there are other ways. AJAX is an asynchronous way to pass information to the server and get responses. The cited a-synchronicity comes from the fact that in a form the content needs to be passed and then the response will come after a page refresh, but with AJAX the requested information, that is the result of the user’s action will come in the actual page. It saves time and gives to the user the impression that the application is really interacting with him.<br />The Business Logic Layer<br />The central layer of the model deals with the logic of the program. It receives data from the upper level and transforms it, using in the inner application logics. It also retrieves data from the deepest data level and uses it to the logics. And, by integrating these two processes, it can do modifications in both levels as well.<br />The Business Logic Layer contains the determinant part of the application logic. It includes: <br /> • performing all required calculations and validations<br /> • managing workflow<br /> ◦ state management: to keep track of application execution<br /> ◦ session management: to distinguish among application instances<br /> ◦ user identification<br /> ◦ service access: to provide application services in a consistent way<br /> • managing all data access for the presentation layer<br />The Business Logic Layer is generally implemented inside an Application server (like Microsoft Transaction Server, Oracle Application Server, or IBM WebSphere). The Application server generally automates a number of services like transactions, security, persistence, connection pooling, messaging and name services.<br />Using the same example of the last session, of the user that wants to see the weather in a specific place, when the information is given by the user the application retrieves it and process. For example, the user wants to see the weather forecast for two days. The application receives its request from the UI and the data is sent to the server. A PHP script catches it and then make the calls for the lower level to get the needed data. When a response comes, being it the desired information or a failed request, it is dealt and then prepared to be sent again to the upper level. <br />The tools used in this level are usually server-side scripts like PHP,ASP.NET, Ruby or CGI. There is even a solution that uses server-side Javascript, called node.js. These technologies, following the information feeding that comes from the upper level, can do any computational pro- cessing that is needed. The CGI (Common Gateway Interface) scripts are an older technology that defines communication way between a server and the content-generated program, in this context called CGI script. One of the most remembered languages when talking about CGI scripts is Perl. The other languages here cited have a similar approach, by running inside a server. PHP is related to Perl, being as well a scripting language and having similar philosophies. It is one of the most popular languages, being the implementation language of important content management systems as Drupal or Wordpress. Ruby have a large popularity too, especially with the framework Ruby on Rails. Applications as Github or Redmine are built using it. There are many others, of course, and different uses of them, one example being C used as CGI or the Java Server Pages (JSP).<br />The Data Layer<br />The deepest level in the layered architecture, the data layer deals with data retrieval from its sources. It is an abstraction to get the plain data, that can be in a wide variety of forms. Once again, it plays a huge role on the reusability and exchange of technologies: if one data source is changed to another, but the proper data is still the same, a good layered design can help by providing the same data to the upper level with the same interfaces, changing only its inner logic. <br />In the example given in this paper of the weather forecast, the requirement by the user for the next days forecast will come to this level as a request for the forecasts that it may have. Then a search will be made in the data using the given parameters, and then the data (or some information about not getting it) will be sent again to the upper level. <br />The technologies used in this layer are database management systems like MySQL or PostgreSQL for relational databases, NoSQL management systems like MongoDB or Apache Cassandra, or even plain XML files or text files. For the management systems usually an API will be used for making queries and retrieving data, and for the plain text ones a script will do the needed operations. Inside it there can be any level of sophistication desired by the application designer, so there can be integrity checks, stored procedures, and virtually anything needed to maintain the data in the desired state.<br />Deepest in the Data Layer: NoSQL and NewSQL<br />Inside the Data Layer, as it was outlined, many different technologies can be used. Most of the web applications currently active use relational databases, but now the market is seeing a change of paradigm in the form of the NoSQL. NoSQL is a general way to identify non-relational databases. Fowler summarises some common characteristics that NoSQL databases share:<br /> • Not using the relational model<br /> • Running well on clusters<br /> • Open-source<br /> • Built for the 21st century web estates<br /> • Schemaless<br />The key points NoSQL supporters use to justify the need for it is that relational databases are not the best solution for any kind of problem, being a problem of its own the uses. They say it is heavy, slow, and non-scalable to use the relational databases, so the use of NoSQL can be a good way to solve these kinds of problems. The use of NoSQL nowadays seems related to startups that use innovating new technology and social web services such as Facebook and Amazon, that have a great amount of data[2] to deal with and have the need to find new ways to use it.<br />In fact, that is this demand of large data processing. Under the label of big data lies the concept of large quantities of data generated in the last few years and from different sources and in a variety of different formats. The processing of this kind of data leads to a wide range of uses, from healthcare to criminalistics inferences. Of course, new challenges arises with this perspective. The drawbacks come from the nature of the data - massive, disperse, heterogeneous. This is why NoSQL can be seen as a solution - it thinks about this kind of problem, trying to solve it.<br />As of 2014, there are four important categories of NoSQL databases:<br /> • key-value stores, that are basically hash tables<br /> • column family stores, which aim is to deal with vast collections of data spread amongst many different machines<br /> • document databases, versioned documents that are collections of other key-value collections<br /> • and graph databases, where the data is presented as a graph, and then it is possible to divide easily into different machines and the queries are more data-specific than the relational ones<br />A topic that attracts attention when it comes to the issue of scalability and performance of databases is the so-called NewSQL. It is more a way to recognise “ the various emerging database products at this particular point in time”. The authors writing about it use the term as an identification of vendors that provide SQL databases that are high-performance and scalable, in the market that is also aimed by NoSQL providers. The aims of NewSQL are also related to the Big Data paradigm.[3]<br /><br />J2EE<br /><br /><br />J2ee<br />ASP.NET<br />Model<br />Simple Java bean classes with setters and getters.<br />Simple .NET class with business logic with setter and getters.<br />Controller<br />Controller is implemented using HttpServlet class.<br />Controller is implemented using the HttpHandler class.<br />View<br />Simple JSP pages.<br />Simple ASPX page.<br /><br /><br />The MVC pattern - useful but not a silver bullet<br />Design patterns try to suggest the way of the application design, while methodologies try to give suitable models for the application and its whole lifecycle. The main idea behind design patterns is to extract the high level interactions between objects and reuse their behaviour from application to application. Moreover, design patterns help to clarify the way that we can think about a Web application.<br />The MVC architecture has its roots in Smalltalk, where it was originally applied to map the traditional input, processing, and output tasks to the graphical user interaction model. However, it is straightforward to map these concepts into the domain of multi-tier Web applications. It can improve the application’s usability, creating reusable code and helping to understand and clarify the functionality of the program. The MVC pattern is very simple, yet incredible useful. It could support:<br /> • Efficient modularity: allows swapping in and out any of the components as the user or programmer desire. Changing one aspect of the program are not coupled to other aspects<br /> • Reusability: it can support the reuse of previously created code if we act sensibly and design carefully.(Reduces risks of bugs coming from refactoring)<br /> • Ease of growth: controllers and views can grow as the model grow<br /> • Centralized controller: a main module is used to make control more manageable<br /><br />The MVC architecture<br /> • Model: The model represents enterprise data and the business rules that govern access to and updates of this data. <br /> • View: The view renders the contents of a model. It accesses data through the model and specifies how that data should be presented. It is the view's responsibility to maintain consistency in its presentation when the model changes. <br /> • Controller: The controller translates interactions with the view into actions to be performed by the model. In a Web application, they appear as GET and POST HTTP requests. The actions performed by the model include activating business processes or changing the state of the model. Based on the user interactions and the outcome of the model actions, the controller responds by selecting an appropriate view. <br />Although MVC is undoubtedly a valuable and useful way to design Web applications, but not the only one. The MVC design pattern’s importance lies in how could it help to achieve a clear separation of concerns and functional layers. Create a module for the database portion, create another module for the application code, and create a third module for the presentation code. That way, we can swap and change different elements at will, hopefully without affecting the other parts.<br />Several vendors have applied this design pattern in their solution. As we have seen that the Web application term appeared in the servlet definition from Sun, here we will show the classic version of the MVC pattern's usage in that context (according to Kappel et al. 2006).<br /><br />The JSP-Model-2 architecture<br />The Layered Architecture and the MVC Design Pattern<br />In the context of Web applications, by concentrating too closely on applying the MVC design pattern and nothing else, many other important aspects may be overlooked. This could lead to a fragmented and fragile solution, and as a result, is hard to maintain and execute further development. The MVC is a well known and widely used design strategy, but the problem is, how can we adopt this pattern into the layered model of Web applications?<br />At first sight the answer could say that we have three layers and three modules, the View module is equivalent with the Presentation layer, the Model module is equivalent with the Data layer, and the Controller module is equivalent with the Business Logic.<br />But if we take a closer look in the functionality of the Model and the Controller – discussed earlier in the paper – we could find that the Model represents business rules, and the Controller translates the interactions ( HTTP GET, POST requests).<br />These suggest that the Controller is only a part of the Business Logic Layer and the Model forms the other part of the Business Logic Layer. We must take under consideration this heterogeneous composition of the Business Logic Layer through the development of a Web-based application.<br /><br />MVC and the Layers<br />It should be obvious by now that MVC or any other design pattern is no more a silver bullet by itself than object-oriented programming is. It's just one part of a much bigger system. We know that MVC has several advantages:<br /> • Clean separation of different functional layers<br /> • Reduces maintenance costs<br /> • Reduces risks of bugs coming from refactoring, graphics redesign<br /> • Presence of a central controller raises overall software security level<br /> • Controller can centrally perform tasks like access logging – without central controller such a task would affect the source code if all business logic actions.<br />but we also know the drawbacks:<br /> • More software design cost (short term)<br /> • More implementation cost<br /> • Programmers cannot use some comfortable system features<br /> • Programmers may feel they are forced to program a complicated way instead of quickly implementing.<br /><br /><br /><br /><br /><br />MVC – Servlet, POJO<br /><br />Design considerations<br />Presentation Layer<br /><br />Business Layer<br /><br /><br /><br /><br /><br /><br /><br /><br />ROA is API wrappers over data models, SOA is API over functional modules.<br />ROA is used to provide CRUD operations. SOA is used to link modules at run time.<br />ROA insulates API consumers from changes to data models. SOA allows drop in replacements of modules, simplifying deployment and customisation.<br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br />The Payload of an API Module is the body of your request and response message. It contains the data that you send to the server when you make an API request. You can send and receive Payload in different formats, for instance JSON. <br />How to prevent XSS attacks<br />Preventing cross-site scripting is trivial in some cases but can be much harder depending on the complexity of the application and the ways it handles user-controllable data. <br />In general, effectively preventing XSS vulnerabilities is likely to involve a combination of the following measures: <br /> • Filter input on arrival. At the point where user input is received, filter as strictly as possible based on what is expected or valid input. <br /> • Encode data on output. At the point where user-controllable data is output in HTTP responses, encode the output to prevent it from being interpreted as active content. Depending on the output context, this might require applying combinations of HTML, URL, JavaScript, and CSS encoding. <br /> • Use appropriate response headers. To prevent XSS in HTTP responses that aren't intended to contain any HTML or JavaScript, you can use the Content-Type and X-Content-Type-Options headers to ensure that browsers interpret the responses in the way you intend. <br /> • Content Security Policy. As a last line of defense, you can use Content Security Policy (CSP) to reduce the severity of any XSS vulnerabilities that still occur. <br />XSS<br />Let's look at how simple an XSS attack can be. The XYZ football club's message board allows club members to post comments about the team and its performance. Comments are stored in an online database and displayed to other members without ever being validated or encoded. A malicious member can simply post a comment containing a script enclosed by the <script> tags. The attacker then waits for other members to view the comment. Since the text inside a <script> tag is not generally displayed, other members may not even be aware that the script has executed; merely viewing the comment will execute the script. The script can legitimately request the member's cookie information and pass it to the attacker. This type of XSS attack is known as persistent XSS because the malicious script is rendered more than once<br /><br />Client-side validation cannot be relied upon, but user input can be forced down to a minimal alphanumeric set with server-side processing before being used by your Web application in any way. You can use regular expressions to search and replace user input to ensure it's non-malicious. This cleaning and validation should be performed on all data before passing it on to another process. For example, a phone number field shouldn't accept any punctuation other than parentheses and dashes. You also need to encode special characters like "<" and ">" before they are redisplayed if they are received from user input. For example, encoding the script tag ensures a browser will display <script> but not execute it. In conjunction to encoding, it is important that your webpages always define their character set so the browser won't interpret special character encodings from other character sets.<br /><br /><br /><br /><br />TDD Java example<br />TDD is a separate paradigm. During learning, developer skills and advantages of the approach grow. Consider the technique as a contribution to the future. Changes affect application documentation and unit tests representing executable specifications. Tests are used to verify compliance with requirements and describe them. A great difficulty for a Java software developer is creating a roadmap for complex functionality in the form of planned tests.<br />The methodology detects bugs in the early stages, which reduces the cost of finding a solution. Therefore, the developer confidently proceeds refactoring and continuous improvement.<br />Development with TDD implies that we need to create test cases first, and then establish the requirements for implementation. Then we will create the code for the implementation to conduct the tests.<br />In simple words, there are 3 steps in each cycle:<br /> 1. Writing tests <br /> 2. Implementing features <br /> 3. Refactoring <br />In the first case, we determine the requirements in the form of tests, then we conduct the test without cleaning and improving the code, and in the last step, we improve the code, making it easier to read and maintain.<br />SEE ALSO: Best practices for securing CI/CD pipelines, or how to get security right<br />Examples of code snippets<br />public class CustomItem<E> implements Item<E> {<br /> private Object[] internal = {};<br /> // new empty implementation methods<br />}<br />@Override<br />public boolean isExist() {<br /> return false;<br />}<br />@Override<br />public boolean isExist() {<br /> return true;<br />}<br /><br />Agile methodology is a practice that helps continuous iteration of development and testing in the SDLC process. Agile breaks the product into smaller builds. <br />In this methodology, development and testing activities are concurrent, unlike other software development methodologies. It also encourages teamwork and face-to-face communication. Business, stakeholders, and developers and clients must work together to develop a product. <br />Scrum in Agile is a process that allows software development teams to focus on delivering business values in shortest time by rapidly and repeatedly inspecting actual working software. It focuses on accountability, teamwork and iterative progress towards well-defined goals. Scrum Framework usually deals with fact that requirements are likely to change or mostly not known at the beginning of project. <br />KEY DIFFERENCE<br /> • Agile is a continuous iteration of development and testing in the software development process whereas Scrum is an Agile process to focus on delivering the business value in the shortest time. <br /> • Agile methodology delivers the software on a regular basis for feedback while Scrum delivers the software after each sprint. <br /> • In the Agile process, leadership plays a vital role; on the other hand, Scrum fosters a self-organizing, cross-functional team. <br /> • Agile involves collaborations and face-to-face interactions between the members of various cross-functional teams whereas Scrum collaboration is achieved in daily stand up meetings. <br /> • In Agile process design and execution should be kept simple whereas in Scrum process design and execution can be innovative and experimental. <br />Agile<br />Scrum<br />Agile is a development methodology based on iterative and incremental approach. <br />Scrum is one of the implementations of agile methodology. In which incremental builds are delivered to the customer in every two to three weeks' time. <br />Agile software development has been widely seen as highly suited to environments which have small but expert project development team <br />Scrum is ideally used in the project where the requirement is rapidly changing. <br />In the Agile process, the leadership plays a vital role. <br />Scrum fosters a self-organizing, cross-functional team. <br />Compared to Scrum it is a more rigid method. So there is not much room for frequent changes. <br />The biggest advantage of Scrum is its flexibility as it quickly reacts to changes. <br />Agile involves collaborations and face-to-face interactions between the members of various cross-functional teams. <br />In Scrum, collaboration is achieved in daily stand up meeting with a fixed role assigned to scrum master, product owner, and team members. <br />Agile can require lots of up-front development process and organizational change. <br />Not too many changes needed while implementing scrum process. <br />The agile method needs frequent delivery to the end user for their feedback. <br />In the scrum, after each sprint, a build is delivered to the client for their feedback. <br />In this method, each step of development like requirements, analysis, design, are continually monitored during the lifecycle. <br />A demonstration of the functionality is provided at the end of every sprint. So that regular feedback can be taken before next sprint. <br />Project head takes cares of all the tasks in the agile method. <br />There is no team leader, so the entire team addresses the issues or problems. <br />The Agile method encourages feedback during the process from the end user. In this way, the end product will be more useful. <br />Daily sprint meeting is conducted to review and feedback to decide future progress of the project. <br />Deliver and update the software on a regular basis. <br />When the team is done with the current sprint activities, the next sprint can be planned. <br />Design and execution should be kept simple. <br />Design and execution can be innovative and experimental. <br />In the Agile method, the priority is always to satisfy the customer by providing continuous delivery of valuable software. <br />Empirical Process Control is a core philosophy of Scrum based process. <br />Working software is the most elementary measure of progress. <br />Working software is not an elementary measure. <br />It is best to have face-to-face communication, and techniques like these should be used to get as close to this goal as possible. <br />Scrum team focus to deliver maximum business value, from beginning early in the project and continuing throughout. <br />Following are Agile principles: <br /><br />-Welcome changing requirements, even late in development. Agile processes allow change according to customer's competitive advantage.<br /><br />-Business people and developers will work daily throughout the project.<br /><br />-Attention to technical excellence and right design enhances agility<br /><br />-Agile team, work on to become more effective, for that they adjust its behavior according to the project.<br />Following are scrum principles:<br /><br />-Self-organization: This results in healthier shared ownership among the team members. It is also an innovative and creative environment which is conductive to growth.<br /><br />-Collaboration: Collaboration is another essential principle which focuses collaborative work. 1. awareness 2. articulation, and 3. appropriation. It also considers project management as a shared value-creation process with teams working together to offer the highest value.<br /><br />-Time-boxing: This principle defines how time is a limiting constraint in Scrum method. An important element of time-boxed elements are Daily Sprint planning and Review Meetings.<br /><br />-Iterative Development: This principle emphasizes how to manage changes better and build products which satisfy customer needs. It also defines the organization's responsibilities regarding iterative development. <br /><br />What is Agile Testing?<br />AGILE TESTING is a testing practice that follows the rules and principles of agile software development. Unlike the Waterfall method, Agile Testing can begin at the start of the project with continuous integration between development and testing. Agile Testing methodology is not sequential (in the sense it's executed only after coding phase) but continuous.<br /><br /><br /><br /><br />The scrum master is responsible for ensuring a true scrum process over the course of a project. They hold together the scrum framework, facilitating the process for the organization, product owner and scrum team. The scrum master is the person on the team who is responsible for managing the process, and only the process. They are not involved in the decision-making, but act as a lodestar to guide the team through the scrum process with their experience and expertise.<br /><br />An Agile retrospective is a meeting that's held at the end of an iteration in Agile software development (ASD ). During the retrospective, the team reflects on what happened in the iteration and identifies actions for improvement going forward.<br />Each member of the team members answers the following questions:<br /> • What worked well for us? <br /> • What did not work well for us? <br /> • What actions can we take to improve our process going forward? <br />In Agile product development, a sprint is a set period of time during which specific work has to be completed and made ready for review.<br />Each sprint begins with a planning meeting. During the meeting, the product owner (the person requesting the work) and the development team agree upon exactly what work will be accomplished during the sprint. The development team has the final say when it comes to determining how much work can realistically be accomplished during the sprint, and the product owner has the final say on what criteria need to be met for the work to be approved and accepted.<br /><br />The sprint backlog is a list of tasks identified by the Scrum team to be completed during the Scrum sprint. During the sprint planning meeting, the team selects some number of product backlog items, usually in the form of user stories, and identifies the tasks necessary to complete each user story. Most teams also estimate how many hours each task will take someone on the team to complete.<br /><br />A burn down chart is a graphical representation of work left to do versus time. The outstanding work (or backlog) is often on the vertical axis, with time along the horizontal. Burn down charts are a run chart of outstanding work. It is useful for predicting when all of the work will be completed. It is often used in agile software development methodologies such as Scrum. However, burn down charts can be applied to any project containing measurable progress over time. <br /><br />A user story is the smallest unit of work in an agile framework. It’s an end goal, not a feature, expressed from the software user’s perspective. A user story is an informal, general explanation of a software feature written from the perspective of the end user or customer.<br />A product backlog is a list of the new features, changes to existing features, bug fixes, infrastructure changes or other activities that a team may deliver in order to achieve a specific outcome.<br /><br />Extreme programming (XP) is a software development methodology which is intended to improve software quality and responsiveness to changing customer requirements. As a type of agile software development,[1][2][3] it advocates frequent "releases" in short development cycles, which is intended to improve productivity and introduce checkpoints at which new customer requirements can be adopted. <br />Other elements of extreme programming include: programming in pairs or doing extensive code review, unit testing of all code, not programming features until they are actually needed, a flat management structure, code simplicity and clarity, expecting changes in the customer's requirements as time passes and the problem is better understood, and frequent communication with the customer and among programmers.[2][3][4] The methodology takes its name from the idea that the beneficial elements of traditional software engineering practices are taken to "extreme" levels. As an example, code reviews are considered a beneficial practice; taken to the extreme, code can be reviewed continuously, i.e. the practice of pair programming. <br /><br />Pair programming is an agile software development technique in which two programmers work together at one workstation. One, the driver, writes code while the other, the observer or navigator,[1] reviews each line of code as it is typed in. The two programmers switch roles frequently. <br />While reviewing, the observer also considers the "strategic" direction of the work, coming up with ideas for improvements and likely future problems to address. This is intended to free the driver to focus all of their attention on the "tactical" aspects of completing the current task, using the observer as a safety net and guide. <br /><br /><br /></p>Nischal Lal Shresthahttp://www.blogger.com/profile/05625422095651611201noreply@blogger.com0tag:blogger.com,1999:blog-8831307421570903483.post-15677504903716361572021-11-26T19:56:00.004-08:002021-11-26T19:56:57.490-08:00Difference Between Web App Testing and Mobile App Testing<p> Web app testing aims to check and detect websites and web applications. It is full testing of web-based programs before bringing them to end user. The main elements of web testing are UI design and functionality testing accompanied by compatibility, performance, security and usability.</p><p><br /></p><p>Mobile app testing is focused on the proper performance of the app on the chosen mobile device. It is important to test each mobile product under different levels and quality of network connection.</p><p><br /></p>Nischal Lal Shresthahttp://www.blogger.com/profile/05625422095651611201noreply@blogger.com0tag:blogger.com,1999:blog-8831307421570903483.post-54637295911709288152021-11-26T19:56:00.003-08:002021-11-26T19:56:46.120-08:00POSIX (Portable Operating System Interface)<p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><span style="font-family: HelveticaNeue-Bold, serif;"><span style="font-size: 10pt;"><b>POSIX</b></span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">POSIX is the IEEE’s </span></span><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;"><b>P</b></span></span><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">ortable </span></span><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;"><b>O</b></span></span><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">perating </span></span><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;"><b>S</b></span></span><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">ystem </span></span><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;"><b>I</b></span></span><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">nterface for Computer Environments.</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">The standard provides </span></span><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;"><b>compliance criteria for operating system services </b></span></span><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">and is designed to allow applications programs to write applications that can easily port across operating systems.</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">POSIX compliant systems are used widely in real-time applications.</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><br /></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><span style="font-family: HelveticaNeue-Bold, serif;"><span style="font-size: 10pt;"><b>1. Threads</b></span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">Real-time POSIX provides a mechanism for creating concurrent activities by allowing for </span></span><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;"><b>each process to contain several threads of execution.</b></span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">POSIX threads are very similar to Java’s threads and Ada’s tasks models.</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">POSIX threads (or </span></span><span style="font-family: Monospace821BT-Roman, serif;"><span style="font-size: 9pt;">Pthreads</span></span><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">) are defined as a set of C language programming types and procedure calls, </span></span><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;"><b>implemented with a </b></span></span><span style="font-family: Monospace821BT-Roman, serif;"><span style="font-size: 9pt;"><b>pthread.h </b></span></span><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;"><b>header/include file</b></span></span><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;"> and a thread library, though this library may be part of another library, such as </span></span><span style="font-family: Monospace821BT-Roman, serif;"><span style="font-size: 9pt;">libc</span></span><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">.</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">The following is the C interface for thread management in POSIX.</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">Types are defined in</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><br /></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">#include <sys/types.h></span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">pthread_t /* Used to identify a thread. */</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">phread_attr_t /* Used to identify a thread attribute object. */</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">size_t /* Used for sizes of objects. */</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 2.5in; text-indent: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">/* initialize and destroy threads attribute object */</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">int pthread_attr_init(pthread_attr_t *);</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">int pthread_attr_destroy(pthread_attr_t *);</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 2.5in; text-indent: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">/* cancel execution of a thread */</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">int pthread_cancel(pthread_t);</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 2.5in; text-indent: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">/* detach a thread */</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">int pthread_detach(pthread_t);</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 2.5in; text-indent: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">/* compare thread IDs */</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">int pthread_equal(pthread_t, pthread_t);</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 3in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">/* thread termination */</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">void pthread_exit(void *);</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 2.5in; text-indent: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">/* wait for thread termination */</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">int pthread_join(pthread_t, void **);</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 2.5in; text-indent: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">/* get calling thread’s ID */</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">pthread_t pthread_self(void);</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 2.5in; text-indent: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">/** Stack and scheduling related **/</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 2.5in; text-indent: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">/* set and get detachstate attribute */</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">int pthread_attr_setdetachstate(pthread_attr_t *, int);</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">int pthread_attr_getdetachstate(const pthread_attr_t *, int *);</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 2.5in; text-indent: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">/* set and get inheritsched attribute */</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">int pthread_attr_setinheritsched(pthread_attr_t *, int);</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">int pthread_attr_getinheritsched(const pthread_attr_t *, int *);</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 2.5in; text-indent: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">/* set and get schedparam attribute */</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">int pthread_attr_setschedparam(pthread_attr_t *, const struct sched_param *);</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">int pthread_attr_getschedparam(const pthread_attr_t *, struct sched_param*);</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 2.5in; text-indent: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">/* dynamic thread scheduling parameters access */</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">int pthread_getschedparam(pthread_t, int *, struct sched_param *);</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">int pthread_setschedparam(pthread_t, int , const struct sched_param *);</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 2.5in; text-indent: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">/* set and get schedpolicy attribute */</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">int pthread_attr_setschedpolicy(pthread_attr_t *, int);</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">int pthread_attr_getschedpolicy(const pthread_attr_t *, int *);</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 2.5in; text-indent: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">/* set and get stackaddr attribute */</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">int pthread_attr_setstackaddr(pthread_attr_t *, void *);</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">int pthread_attr_getstackaddr(const pthread_attr_t *, void **);</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 2.5in; text-indent: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">/* set and get stacksize attribute */</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">int pthread_attr_setstacksize(pthread_attr_t *, size_t);</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">int pthread_attr_getstacksize(const pthread_attr_t *, size_t *);</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">int pthread_getconcurrency(void);</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">void *pthread_getspecific(pthread_key_t);</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><br /></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">All identifiers in the threads library </span></span><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;"><b>begin with </b></span></span><span style="font-family: Monospace821BT-Roman, serif;"><span style="font-size: 9pt;"><b>pthread_</b></span></span><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;"><b>.</b></span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><br /></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><br /></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><br /></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;"><b>Single thread Creation with the </b></span></span><span style="font-family: Monospace821BT-Roman, serif;"><span style="font-size: 9pt;"><b>pthread_create() </b></span></span><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;"><b>routine.</b></span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">#include <pthread.h></span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">#include <stdio.h></span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">int x=90;</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">void print_message_function( void *ptr ){</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">char *message;</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">message = (char *) ptr;</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">printf("I incremented value of x: %d and i am child %s \n",++x, message);</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">}</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">int main() {</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">pthread_t thread1, thread2;</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">char *message1 = "Thread one";</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">char *message2 = "Thread two";</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">pthread_create( &thread1, 0 , (void*)&print_message_function, (void*) message1);</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">pthread_create( &thread2, 0 , (void*)&print_message_function, (void*) message2);</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">return(0);</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">}</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><br /></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;"><b>Multiple threads Creation with the </b></span></span><span style="font-family: Monospace821BT-Roman, serif;"><span style="font-size: 9pt;"><b>pthread_create() </b></span></span><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;"><b>routine.</b></span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">Each thread does a simple print, and then terminates with a call to </span></span><span style="font-family: Monospace821BT-Roman, serif;"><span style="font-size: 9pt;">pthread_exit()</span></span><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">.</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">The example also demonstrates how to “wait” for thread completions by using the </span></span><span style="font-family: Monospace821BT-Roman, serif;"><span style="font-size: 9pt;">Pthread </span></span><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">join routine.</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">#include <pthread.h></span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">#include <stdio.h></span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">void message_printer_function(void *ptr)</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">{</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 1in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">char *message;</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 1in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">message = (char*) ptr;</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 1in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">printf("%s\n",message);</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">}</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">void main()</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">{</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 1in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">pthread_t thread[5];</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 1in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">pthread_attr_t attribute;</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 1in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">int errorcode,counter, status;</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 1in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">char *message="TestPrint";</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 1in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">/* Initialize and set thread detached attribute */</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 1in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">pthread_attr_init(&attribute);</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 1in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">pthread_attr_setdetachstate(&attribute, PTHREAD_CREATE_JOINABLE);</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 1in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">for(counter=0;counter<5;counter++)</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 1in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">{</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 1.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">printf("I am creating thread %d\n", counter);</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 1.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 7pt;">errorcode = pthread_create(</span></span><span style="font-family: Courier New, serif;"><span style="font-size: 6pt;">&thread[counter],&attribute,(void*)&message_printer_function,(void*)message</span></span><span style="font-family: Courier New, serif;"><span style="font-size: 7pt;">);</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 1.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">if (errorcode)</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 1.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">{</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 2in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">printf("ERROR happened in thread creation");</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 2in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">exit(-1);</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 1.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">}</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in; text-indent: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">}</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 1in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">/* Free attribute and wait for the other threads */</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 1in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">pthread_attr_destroy(&attribute);</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 1in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">for(counter=0;counter<5;counter++)</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 1in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">{</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 1.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">errorcode = pthread_join(thread[counter], (void **)&status);</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 1.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">if (errorcode)</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 1.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">{</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 2in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">printf("ERROR happened in thread join");</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 2in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">exit(-1);</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 1.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">}</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 1.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">printf("Completed join with thread %d\n",counter);</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 1.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">/*printf("Completed join with thread %d status= %d\n",counter, status);*/</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 1in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">}</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 1in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">pthread_exit(NULL);</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">}</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><span style="font-family: HelveticaNeue-Bold, serif;"><span style="font-size: 10pt;"><b>2. POSIX Mutexes and Condition Variables</b></span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">Mutex variables are one of the primary </span></span><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;"><b>means of implementing thread synchronization</b></span></span><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">.</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">The basic concept of a mutex as used in </span></span><span style="font-family: Monospace821BT-Roman, serif;"><span style="font-size: 9pt;">Pthreads </span></span><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">is that </span></span><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;"><b>only one thread is allowed to lock (or own) a mutex variable at any given time</b></span></span><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">.</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">Even if several threads try to lock a mutex, </span></span><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;"><b>only one thread will be successful</b></span></span><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">.</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">No other thread can own/lock that mutex</span></span><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;"><b> until the owning thread unlocks that mutex</b></span></span><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">, and only the owner can unlock it. POSIX mutexes application program interfaces (APIs) are given below.</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">/** POSIX Mutexes **/</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">/* Creating/Destroying Mutexes */</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">pthread_mutex_init(mutex, attr)</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">pthread_mutex_destroy(mutex)</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">pthread_mutexattr_init(attr)</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">pthread_mutexattr_destroy(attr)</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><br /></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">/* Locking/Unlocking Mutexes */</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">pthread_mutex_lock(mutex)</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">pthread_mutex_trylock(mutex)</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">pthread_mutex_unlock(mutex)</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">As compared to mutexes, </span></span><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;"><b>condition variables provide an alternative</b></span></span><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;"> for threads to synchronize.</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">The basic difference between mutexes and condition variables</span></span></p><ul><li><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">mutexes implement synchronization by controlling thread access to data</span></span></p></li><li><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">condition variables allow threads to synchronize based upon the actual value of data</span></span></p></li></ul><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">Without condition variables, threads need to continually poll (possibly in a critical section) to check if the condition is met. This could lead to unnecessary resource consumption, as the thread would be continuously busy in this activity.</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">A condition variable facilitates to </span></span><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;"><b>achieve the same goal without polling</b></span></span><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">.</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">/** POSIX Condition Variables **/</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">/* Creating/Destroying Condition Variables */</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">pthread_cond_init(condition, attr)</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">pthread_cond_destroy(condition)</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">pthread_condattr_init(attr)</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">pthread_condattr_destroy(attr)</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><br /></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">/* Waiting/Signalling On Condition Variables */</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">pthread_cond_wait(condition, mutex)</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">pthread_cond_signal(condition)</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">pthread_cond_broadcast(condition)</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><br /></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;"><b>Use of a mutex: single reader, a single writer communicate via a shared memory</b></span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">#include <stdio.h></span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">#include <pthread.h></span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">#define SET 1</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">#define NOTSET 0</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">int info_in_buffer=NOTSET;</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">pthread_mutex_t lock=PTHREAD_MUTEX_INITIALIZER;</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">void read_user(void)</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">{</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 1in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">while(1)</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 1in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">{</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 1in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">/* check whether buffer is written and read data*/</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 1in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">pthread_mutex_lock(&lock);</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 1in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">if (info_in_buffer==SET)</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 1in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">{</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 1.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">printf("In read user \n");</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 2.5in; text-indent: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">/* simulation the read operation by a wait (sleep(2)) */</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 1.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">sleep(2);</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 1.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">info_in_buffer=NOTSET;</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 1.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">}</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 1.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">pthread_mutex_unlock(&lock);</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 2.5in; text-indent: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">/* giving the writer an opportunity to write to the buffer*/</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 1.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">sleep(2);</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 1in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">}</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">}</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">void write_user(void)</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">{</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 1in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">while(1)</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 1in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">{</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 2.5in; text-indent: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">/* check whether buffer is free and write data*/</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 1.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">pthread_mutex_lock(&lock);</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 1.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">if (info_in_buffer==NOTSET)</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 1.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">{</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 2in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">printf("In write user \n");</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 2.5in; text-indent: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">/* simulation the write operation by a wait (sleep(2)) */</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 2in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">sleep(2);</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 2in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">info_in_buffer=SET;</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 1.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">}</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 1.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">pthread_mutex_unlock(&lock);</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 2.5in; text-indent: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">/* giving the reader an opportunity to read from the buffer*/</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 1.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">sleep(2);</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 1in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">}</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">}</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">void main()</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">{</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 1in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">pthread_t Readthread;</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 1in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">pthread_attr_t attribute;</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 1in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">pthread_attr_init(&attribute);</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 1in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">pthread_create(&Readthread,&attribute,(void*)&read_user,NULL);</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 1in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">write_user();</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">}</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><br /></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><span style="font-family: HelveticaNeue-Bold, serif;"><span style="font-size: 10pt;"><b>3. POSIX Semaphores</b></span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">POSIX provides </span></span><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;"><b>counting semaphores </b></span></span><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">and</span></span><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;"><b> binary semaphores</b></span></span><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;"> to enable processes running in different address spaces, or threads within the same address space, to synchronize and communicate using shared memory.</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">The following prototypes are self-describing examples of their use.</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">int sem_init(sem_t *sem, int pshared, unsigned int value);</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 2in; text-indent: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">/* Initializes the semaphore object pointed by ‘sem’ */</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">int sem_destroy(sem_t *sem);</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 2.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">/* Destroys a semaphore object and frees up the resources it might hold */</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 2.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">/* The following three functions are used in conjunction with other processes*/</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">sem_t *sem_open(const char *name, int oflag, ...);</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">int sem_close(sem_t *sem);</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">int sem_unlink(const char *name);</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">int sem_wait(sem_t *sem);</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 2.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">/* Suspends the calling thread until the semaphore pointed to by ‘sem’ has</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 2.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">non-zero count. Decreases the semaphore count. */</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">int sem_trywait(sem_t *sem);</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 2in; text-indent: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">/* A non-blocking variant of sem_wait. */</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">int sem_post(sem_t *sem);</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 2in; text-indent: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">/* Increases the count of the semaphore pointed to by ‘sem’. */</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">int sem_getvalue(sem_t *sem, int *sval);</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 2in; text-indent: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">/* Stores the current count of the semaphore ‘sem’ in ‘sval’. */</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><span style="font-family: HelveticaNeue-Bold, serif;"><span style="font-size: 10pt;"><b>4. Using Semaphores and Shared Memory</b></span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">It is important that </span></span><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;"><b>two processes not write to the same area</b></span></span><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;"> of shared-memory at the same time, and this is where the semaphores are useful.</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">Before writing to a shared memory region, </span></span><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;"><b>a process can lock the semaphore to prevent another process from accessing the region</b></span></span><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;"> until the write operation is completed.</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">When the process is finished with the shared-memory region, the process unlocks the semaphore and </span></span><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;"><b>frees the shared-memory region </b></span></span><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">for use by another process.</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><br /></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><br /></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><br /></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><br /></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><br /></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><br /></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><br /></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><br /></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><br /></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><br /></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><br /></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><br /></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><br /></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><br /></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><br /></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 7pt;">#include<stdio.h></span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 7pt;">#include<unistd.h></span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 7pt;">#include<pthread.h></span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 7pt;">#include<semaphore.h></span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 7pt;">#include<sys/sem.h></span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 7pt;">sem_t writer_lock;</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 7pt;">sem_t reader_lock;</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 7pt;">void read_user(void)</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 7pt;">{</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 1in;"><span style="font-family: Courier New, serif;"><span style="font-size: 7pt;">while(1) {</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 1.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 7pt;">sem_wait(&reader_lock);</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 3in; text-indent: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 7pt;">/* simulate read operation by a delay*/</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 1.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 7pt;">printf("in reader task </span></span><span style="font-family: Courier New, serif;"><span style="font-size: 7pt;">\</span></span><span style="font-family: Courier New, serif;"><span style="font-size: 7pt;">n");</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 1.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 7pt;">sleep(2);</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 1.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 7pt;">sem_post(&writer_lock);</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 1in;"><span style="font-family: Courier New, serif;"><span style="font-size: 7pt;">}</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 7pt;">}</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 7pt;">void write_user(void)</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 7pt;">{</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 1in;"><span style="font-family: Courier New, serif;"><span style="font-size: 7pt;">while(1) {</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 1.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 7pt;">sem_wait(&writer_lock);</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 3in; text-indent: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 7pt;">/* simulate read operation by a delay*/</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 1.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 7pt;">printf("in writer task </span></span><span style="font-family: Courier New, serif;"><span style="font-size: 7pt;">\</span></span><span style="font-family: Courier New, serif;"><span style="font-size: 7pt;">n");</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 1.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 7pt;">sleep(2);</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 1.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 7pt;">sem_post(&reader_lock);</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 1in;"><span style="font-family: Courier New, serif;"><span style="font-size: 7pt;">}</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 7pt;">}</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 7pt;">void main()</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 7pt;">{</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 1in;"><span style="font-family: Courier New, serif;"><span style="font-size: 7pt;">pthread_t read_thread;</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 1in;"><span style="font-family: Courier New, serif;"><span style="font-size: 7pt;">pthread_attr_t attribute;</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 1in;"><span style="font-family: Courier New, serif;"><span style="font-size: 7pt;">sem_init(&writer_lock,0,1);</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 1in;"><span style="font-family: Courier New, serif;"><span style="font-size: 7pt;">sem_init(&reader_lock,0,1);</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 1in;"><span style="font-family: Courier New, serif;"><span style="font-size: 7pt;">sem_wait(&reader_lock);</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 1in;"><span style="font-family: Courier New, serif;"><span style="font-size: 7pt;">pthread_attr_init(&attribute);</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 1in;"><span style="font-family: Courier New, serif;"><span style="font-size: 7pt;">pthread_create(&read_thread,&attribute,(void*)&read_user,NULL);</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 1in;"><span style="font-family: Courier New, serif;"><span style="font-size: 7pt;">write_user();</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 7pt;">}</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><br /></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><span style="font-family: HelveticaNeue-Bold, serif;"><span style="font-size: 10pt;"><b>5. POSIX Messages</b></span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">Message queues work by </span></span><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;"><b>exchanging data in buffers</b></span></span><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">.</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">Any number of processes can </span></span><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;"><b>communicate through message queues</b></span></span><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">. Message notification can be synchronous or asynchronous.</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">The POSIX message passing through message-queue facilities provide a deterministic, efficient means for interprocess communication.</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">Real-time message passing is designed to work with shared memory in order to accommodate the needs of real-time applications with an efficient, deterministic mechanism to pass arbitrary amounts of data between cooperating processes. The following prototypes describe the POSIX messaging capabilities.</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">mqd_t mq_open(const char *name, int oflag, ...);</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 2in; text-indent: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">/* Connects to, and optionally creates, a named message queue. */</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">int mq_send(mqd_t mqdes, const char *msg_ptr, oskit_size_t msg_len,</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">unsigned int msg_prio);</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 2in; text-indent: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">/* Places a message in the queue. */</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">int mq_receive(mqd_t mqdes, char *msg_ptr, oskit_size_t msg_len,</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">unsigned int *msg_prio);</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 2in; text-indent: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">/* Receives(removes)oldest, highest priority message from the queue. */</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">int mq_close(mqd_t mqdes);</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 2in; text-indent: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">/* Ends the connection to an open message queue. */</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">int mq_unlink(const char *name);</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 2in; text-indent: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">/* Ends the connection to an open message queue and causes the</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">queue to be removed when the last process closes it. */</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">int mq_setattr(mqd_t mqdes, const struct mq_attr *mqstat, struct mq_attr *omqstat);</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">int mq_getattr(mqd_t mqdes, struct mq_attr *mqstat);</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 2.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">/* Set or get message queue attributes. */</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">int mq_notify(mqd_t mqdes, const struct sigevent *notification);</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 2in; text-indent: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">/* Notifies process or thread that a message is available in the queue. */</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">The following example illustrates sending and receiving messages between two processes using a message queue.</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">The following two programs should be compiled and run at the same time to illustrate the basic principle of</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">message passing:</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><span style="font-family: Monospace821BT-Roman, serif;"><span style="font-size: 9pt;"><b>message_send.c </b></span></span><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">Creates a message queue and sends one message to the queue.</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><span style="font-family: Monospace821BT-Roman, serif;"><span style="font-size: 9pt;"><b>message_rec.c</b></span></span><span style="font-family: Monospace821BT-Roman, serif;"><span style="font-size: 9pt;"> </span></span><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">Reads the message from the queue.</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">The full code listing for </span></span><span style="font-family: Monospace821BT-Roman, serif;"><span style="font-size: 9pt;">message_send.c </span></span><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">is as follows:</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">#include <sys/types.h></span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">#include <sys/ipc.h></span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">#include <sys/msg.h></span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">#include <stdio.h></span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">#include <stdlib.h></span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">#include <string.h></span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">#define MSGSZ 128</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">/* Declare the message structure. */</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">typedef struct msgbuf {</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 1in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">long mtype;</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 1in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">char mtext[MSGSZ];</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">} message_buf;</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">main(){</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">int msqid;</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">int msgflg = IPC_CREAT | 0666;</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">key_t key;</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">message_buf sbuf;</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">size_t buf_length;</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; text-indent: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">/* Get the message queue id for the "name" 1234, which was created by the server. */</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 1in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">key = 1234;</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 1in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">(void) fprintf(stderr, "</span></span><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">\</span></span><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">nmsgget: Calling msgget(%#lx,</span></span><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">\</span></span><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">%#o)</span></span><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">\</span></span><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">n", key, msgflg);</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 1in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">if ((msqid = msgget(key, msgflg )) < 0)</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 1in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">yt{</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 1.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">perror("msgget");</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 1.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">exit(1);</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 1in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">}</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 1in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">else</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 1in; text-indent: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">(void) fprintf(stderr,"msgget: msgget succeeded: msqid = %d</span></span><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">\</span></span><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">n", msqid);</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 3in; text-indent: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">/* We’ll send message type 1 */</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 1in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">sbuf.mtype = 1;</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 1in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">(void) fprintf(stderr,"msgget: msgget succeeded: msqid = %d</span></span><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">\</span></span><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">n", msqid);</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 1in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">(void) strcpy(sbuf.mtext, "Did you get this?");</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 1in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">(void) fprintf(stderr,"msgget: msgget succeeded: msqid = %d</span></span><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">\</span></span><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">n", msqid);</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 1in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">buf_length = strlen(sbuf.mtext) + 1 ;</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 3in; text-indent: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">/* Send a message. */</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 1in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">if (msgsnd(msqid, &sbuf, buf_length, IPC_NOWAIT) < 0) {</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 1.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">printf ("%d, %d, %s, %d</span></span><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">\</span></span><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">n", msqid, sbuf.mtype, sbuf.mtext, buf_length);</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 1.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">perror("msgsnd");</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 1.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">exit(1);</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 1in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">}</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 1in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">else</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 1in; text-indent: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">printf("Message: </span></span><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">\</span></span><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">"%s</span></span><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">\</span></span><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">" Sent</span></span><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">\</span></span><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">n", sbuf.mtext);</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">exit(0);</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">}</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">The essential points to note here are:</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">The </span></span><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;"><b>Message queue is created with a basic key</b></span></span><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;"> and </span></span><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;"><b>message flag</b></span></span><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;"> </span></span><span style="font-family: Monospace821BT-Roman, serif;"><span style="font-size: 9pt;">msgflg = IPC_CREAT | 0666 -- </span></span><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">create queue and make it read and appendable by all.</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">A message of type (</span></span><span style="font-family: Monospace821BT-Roman, serif;"><span style="font-size: 9pt;">sbuf.mtype</span></span><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">) = 1 is sent to the queue with the message “Did you get this?”</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">Receiving the preceding message as sent using </span></span><span style="font-family: Monospace821BT-Roman, serif;"><span style="font-size: 9pt;">message_send </span></span><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">program is illustrated below.</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">The full code listing for </span></span><span style="font-family: Monospace821BT-Roman, serif;"><span style="font-size: 9pt;">message_send.c</span></span><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">’s companion process,</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><span style="font-family: Monospace821BT-Roman, serif;"><span style="font-size: 9pt;">message_rec.c </span></span><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">is as follows:</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">#include <sys/types.h></span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">#include <sys/ipc.h></span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">#include <sys/msg.h></span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">#include <stdio.h></span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">#define MSGSZ 128</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">/* Declare the message structure. */</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">typedef struct msgbuf {</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 1in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">long mtype;</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 1in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">char mtext[MSGSZ];</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">} message_buf;</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">main()</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">{</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">int msqid;</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">key_t key;</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">message_buf rbuf;</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">/* Get the message queue id for the "name" 1234, which was created by the server. */</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">key = 1234;</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 1in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">if ((msqid = msgget(key, 0666)) < 0) {</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 1.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">perror("msgget");</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 1.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">exit(1);</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 1in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">}</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 1in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">/* Receive an answer of message type 1. */</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 1in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">if (msgrcv(msqid, &rbuf, MSGSZ, 1, 0) < 0) {</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 1.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">perror("msgrcv");</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 1.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">exit(1);</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 1in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">}</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 1in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">/* Print the answer. */</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 1in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">printf("%s</span></span><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">\</span></span><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">n", rbuf.mtext);</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">exit(0);</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">}</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">The essential points to note here are:</span></span></p><ul><li><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">The Message queue is opened with msgget (message flag 0666) and the same key as </span></span><span style="font-family: Monospace821BT-Roman, serif;"><span style="font-size: 9pt;">message_send.c}</span></span><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">.</span></span></p></li><li><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">A message of the same type 1 is received from queue with the message “Did you get this?” stored in </span></span><span style="font-family: Monospace821BT-Roman, serif;"><span style="font-size: 9pt;">rbuf.mtext.</span></span></p></li></ul><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><br /></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><span style="font-family: HelveticaNeue-Bold, serif;"><span style="font-size: 10pt;"><b>6. Real-Time POSIX Signals</b></span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">Signals are </span></span><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;"><b>software representation of interrupts</b></span></span><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;"> or exception occurrences. Signals asynchronously alter the control flow of a task.</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">It is important to point out that no routine should be called from a signal handler that might cause the handler to block – it makes it impossible to predict which resources might be unavailable.</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">Signals are used for many purposes:</span></span></p><ul><li><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">Exception handling</span></span></p></li><li><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">Process notification of asynchronous event occurrence</span></span></p></li><li><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">Process termination in abnormal situations</span></span></p></li><li><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">Interprocess communication</span></span></p></li></ul><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">However, there are several limitations of standard POSIX signals on their use inreal-time applications. These include:</span></span></p><ul><li><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">Lack of signal queueing</span></span></p></li><li><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">No signal delivery order</span></span></p></li><li><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">Poor information content</span></span></p></li><li><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">Asynchrony</span></span></p></li></ul><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">POSIX real-time extensions (POSIX.4) improves the POSIX signals to applications.</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">POSIX.4 defines a new set of application-defined real-time signals, and these signals are numbered from </span></span><span style="font-family: Monospace821BT-Roman, serif;"><span style="font-size: 9pt;">SIGRTMIN </span></span><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">to </span></span><span style="font-family: Monospace821BT-Roman, serif;"><span style="font-size: 9pt;">SIGRTMAX</span></span><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">. There must be </span></span><span style="font-family: Monospace821BT-Roman, serif;"><span style="font-size: 9pt;">RTSIG_MAX >8 </span></span><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">signals in between these two limits.</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">The </span></span><span style="font-family: Monospace821BT-Roman, serif;"><span style="font-size: 9pt;">sigaction </span></span><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">defines all the details that a process need to know when a signal arrives.</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">As real-time signals can be queued, the queueing option for a real-time signal is chosen by setting bit </span></span><span style="font-family: Monospace821BT-Roman, serif;"><span style="font-size: 9pt;">SA_SIGINFO </span></span><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">in the </span></span><span style="font-family: Monospace821BT-Roman, serif;"><span style="font-size: 9pt;">sa_flags </span></span><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">field of the </span></span><span style="font-family: Monospace821BT-Roman, serif;"><span style="font-size: 9pt;">sigaction </span></span><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">structure of the signal.</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">struct sigaction{</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">void (*sa_handler)();</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">sigset_t sa_mask;</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">int sa_flags;//SA_NOCLDSTOP or SA_SIGINFO</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">void (*sa_sigaction)(int, siginfo_t*, void*);</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 1in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">/*used for real-time signals!! Also, ‘‘SA_SIGINFO’’</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 1in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">is set in ‘‘sa_flags.’’</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 1in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">*/</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">};</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">int sigaction(int sig, const struct sigaction *reaction,</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">struct sigaction *oldreaction);</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">Real-time signals can carry extra data. </span></span><span style="font-family: Monospace821BT-Roman, serif;"><span style="font-size: 9pt;">SA_SIGINFO </span></span><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">increases the amount of information delivered by each signal. If </span></span><span style="font-family: Monospace821BT-Roman, serif;"><span style="font-size: 9pt;">SA_SIGINFO </span></span><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">is set, then the signal handlers have as an additional parameter a pointer to a data structure called a </span></span><span style="font-family: Monospace821BT-Roman, serif;"><span style="font-size: 9pt;">siginfo_t </span></span><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">that contains the date value to be piggybacked.</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">The </span></span><span style="font-family: Monospace821BT-Roman, serif;"><span style="font-size: 9pt;">sigqueue() </span></span><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">includes an application-specified value (of type </span></span><span style="font-family: Monospace821BT-Roman, serif;"><span style="font-size: 9pt;">sigval</span></span><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">) that is sent as a part of the signal. It enables the queuing of multiple signals for any task.</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">Real-time signals can be specified as offsets from </span></span><span style="font-family: Monospace821BT-Roman, serif;"><span style="font-size: 9pt;">SIGRTMIN</span></span><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">.</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">All signals delivered with </span></span><span style="font-family: Monospace821BT-Roman, serif;"><span style="font-size: 9pt;">sigqueue() </span></span><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">are queued by numeric order, lowest numbered signals delivered first.</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">POSIX.4 provides a new and more responsive (or fast) synchronous signalwait function called </span></span><span style="font-family: Monospace821BT-Roman, serif;"><span style="font-size: 9pt;">sigwaitinfo</span></span><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">. Upon arrival of the signal, it does not call the signal handler (unlike </span></span><span style="font-family: Monospace821BT-Roman, serif;"><span style="font-size: 9pt;">sigsuspend</span></span><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">), but unblocks the calling process.</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><br /></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><span style="font-family: HelveticaNeue-Bold, serif;"><span style="font-size: 10pt;"><b>7. Clocks and Timers</b></span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">In developing real-time applications, clearly it is desirable to have facilities to set and get the time.</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">For example, suppose a diagnostic program checks the health of the system periodically.</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">Essentially, the program would execute one round of diagnostics and then wait for a notification to execute again, with the process repeating forever.</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">This is accomplished by </span></span><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;"><b>having a timer that is set to expire at a particular time interval</b></span></span><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">. When the time interval expires, the program that set the timer is notified, usually through a signal delivery.</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><br /></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><span style="font-family: HelveticaNeue-BoldItalic, serif;"><span style="font-size: 10pt;"><b>7.1 Time Management </b></span></span><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">In order to generate a time reference, a timer circuit is programmed to interrupt the processor at a fixed rate.</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">The internal system time is incremented at each timer interrupt.</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">The interval of time with which the timer is programmed to interrupt defines the unit of time (also called “tick”) in the system (time resolution).</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">Typically, the system time is represented by a long integer (unsigned 32 bits) variable, whereas the value of the tick is stored in a float variable.</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">The values of the system lifetime (range) for some tick values (granularity) is shown in the Table 3.13.</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">At any time, “</span></span><span style="font-family: Monospace821BT-Roman, serif;"><span style="font-size: 9pt;">sys_clock</span></span><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">,” a variable holding system time, contains the number of interrupts generated by the timer since the Epoch.</span></span></p><p align="center" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><img align="bottom" border="0" height="137" name="Picture 5" src="file:///tmp/lu7520d9fxs0.tmp/lu7520d9fy2d_tmp_ca4cab086fb9a3c7.png" width="265" /></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><span style="font-family: HelveticaNeue-BoldItalic, serif;"><span style="font-size: 10pt;"><b>7.2 POSIX Clock</b></span></span><span style="font-family: HelveticaNeue-BoldItalic, serif;"><span style="font-size: 10pt;"><i><b> </b></i></span></span><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">POSIX allows many clocks to be supported by an implementation. Each clock has its own identifier of type </span></span><span style="font-family: Monospace821BT-Roman, serif;"><span style="font-size: 9pt;">clockid_t</span></span><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">.</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">The commonly supported “time-of-day clock” is the </span></span><span style="font-family: Monospace821BT-Roman, serif;"><span style="font-size: 9pt;">CLOCK_REALTIME </span></span><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">clock, defined in the </span></span><span style="font-family: Monospace821BT-Roman, serif;"><span style="font-size: 9pt;">time.h </span></span><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">header file.</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">The </span></span><span style="font-family: Monospace821BT-Roman, serif;"><span style="font-size: 9pt;">CLOCK_REALTIME </span></span><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">clock is a systemwide clock, visible to all processes running on the system.</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">The </span></span><span style="font-family: Monospace821BT-Roman, serif;"><span style="font-size: 9pt;">CLOCK_REALTIME </span></span><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">clock measures the amount of time that has elapsed since 00:00:00 January 1, 1970.</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">As mentioned, </span></span><span style="font-family: Monospace821BT-Roman, serif;"><span style="font-size: 9pt;">CLOCK_REALTIME </span></span><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">is commonly used as the </span></span><span style="font-family: Monospace821BT-Roman, serif;"><span style="font-size: 9pt;">clock_id </span></span><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">argument in all clock functions.</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">The value returned by a clock function is stored in a data structure called </span></span><span style="font-family: Monospace821BT-Roman, serif;"><span style="font-size: 9pt;">timespec </span></span><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">that has two fields of the long-integer type, namely </span></span><span style="font-family: Monospace821BT-Roman, serif;"><span style="font-size: 9pt;">tv_sec </span></span><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">representing the value in number of seconds since the Epoch, and </span></span><span style="font-family: Monospace821BT-Roman, serif;"><span style="font-size: 9pt;">tv_nsec </span></span><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">representing the value in nanoseconds.</span></span></p><p align="center" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><img align="bottom" border="0" height="152" name="Picture 4" src="file:///tmp/lu7520d9fxs0.tmp/lu7520d9fy2d_tmp_cc54ed66b1469000.png" width="332" /></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><span style="font-family: HelveticaNeue-BoldItalic, serif;"><span style="font-size: 10pt;"><b>7.3 Determining Clock Resolution</b></span></span><span style="font-family: HelveticaNeue-BoldItalic, serif;"><span style="font-size: 10pt;"><i><b> </b></i></span></span><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">The following example calls the </span></span><span style="font-family: Monospace821BT-Roman, serif;"><span style="font-size: 9pt;">clock_getres </span></span><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">function to determine clock resolution:</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">#include <unistd.h></span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">#include <time.h></span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">main(){</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">struct timespec clock_resolution;</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">int stat;</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 1in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">stat = clock_getres(CLOCK_REALTIME, &clock_resolution);</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 1in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">printf(</span></span><span style="font-family: Courier New, serif;"><span style="font-size: 7pt;">“Clock resln is %d seconds, %ld nanoseconds</span></span><span style="font-family: Courier New, serif;"><span style="font-size: 7pt;">\</span></span><span style="font-family: Courier New, serif;"><span style="font-size: 7pt;">n”,clock_resolution.tv_sec, clock_resolution.tv_nsec</span></span><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">);</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">}</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><br /></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><span style="font-family: HelveticaNeue-BoldItalic, serif;"><span style="font-size: 10pt;"><b>7.4 Retrieving System Time</b></span></span><span style="font-family: HelveticaNeue-BoldItalic, serif;"><span style="font-size: 10pt;"><i><b> </b></i></span></span><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">The </span></span><span style="font-family: Monospace821BT-Roman, serif;"><span style="font-size: 9pt;">clock_gettime </span></span><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">function returns the value of the systemwide clock as the number of elapsed seconds since the Epoch.</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">The </span></span><span style="font-family: Monospace821BT-Roman, serif;"><span style="font-size: 9pt;">timespec </span></span><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">data structure (used for the </span></span><span style="font-family: Monospace821BT-Roman, serif;"><span style="font-size: 9pt;">clock_gettime </span></span><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">function) also contains a member to hold the value of the number of elapsed nanoseconds not comprising a full second.</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">#include <unistd.h></span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">#include <time.h></span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">main(){</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">struct timespec ts;</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 1in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">clock_gettime(CLOCK_REALTIME, &ts);</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 1in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">printf(‘‘clock_gettime returns:</span></span><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">\</span></span><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">n’’);</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 1in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">printf(‘‘%d seconds and %ld nanoseconds</span></span><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">\</span></span><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">n’’, ts.tv_sec, ts.tv_nsec);</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">}</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><br /></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><span style="font-family: HelveticaNeue-BoldItalic, serif;"><span style="font-size: 10pt;"><b>7.5 System Clock Resolution</b></span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">The system clock resolution on DEC’s Alpha system is 1/1024 seconds or 976 microseconds),</span></span><span style="font-family: Times-Roman, serif;"><span style="font-size: 7pt;">7 </span></span><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">that is, the system maintains time by adding 976 microseconds at every clock interrupt.</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">The actual time period between clock ticks is exactly 976.5625 microseconds.</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">The missing 576 microseconds (1024 * 0.5625) are added at the end of the 1024th tick, that is the 1024th tick advances the system time by 1552 microseconds.</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">Note that if an application program requests a timer value that is not an exact multiple of the system clock resolution (an exact multiple of 976.5625 microseconds), the actual time period counted down by the system will be slightly larger</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">than the requested time period.</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">A program that asks for a periodic timer of 50 milliseconds will actually get a time period of 50.78 milliseconds.</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><br /></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><span style="font-family: HelveticaNeue-BoldItalic, serif;"><span style="font-size: 10pt;"><b>7.6 Timer </b></span></span><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">It is desirable to time a process’s execution so that it gets to run on the processor at a specific time interval.</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">POSIX timers provide a mechanism to </span></span><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;"><b>control the frequency of a program execution.</b></span></span><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;"></span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">In order to use a timer to time a process it is necessary to:</span></span></p><ul><li><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;"><b>Create the time object</b></span></span><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;"> within the kernel.</span></span></p></li><li><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;"><b>Generate a signal</b></span></span><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;"> to get notification.</span></span></p></li><li><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">Choose either </span></span><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;"><b>relative or absolute timer</b></span></span><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">.</span></span></p></li></ul><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><br /></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><span style="font-family: HelveticaNeue-BoldItalic, serif;"><span style="font-size: 10pt;"><b>7.7 Creating a Timer</b></span></span><span style="font-family: HelveticaNeue-BoldItalic, serif;"><span style="font-size: 10pt;"><i><b> </b></i></span></span><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">The first step is to create a timer for the application by using the </span></span><span style="font-family: Monospace821BT-Roman, serif;"><span style="font-size: 9pt;">timer_create() </span></span><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">function.</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">#include<signal.h></span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">#include<time.h></span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">timer_t timer_create(clockid_t clock_id, struct sigevent *event, timer_t *timer_id);</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">As per POSIX standard, different platforms can have multiple time bases, but every platform must support at least the </span></span><span style="font-family: Monospace821BT-Roman, serif;"><span style="font-size: 9pt;">CLOCK_REALTIME </span></span><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">time base.</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">A timer based upon the system clock called </span></span><span style="font-family: Monospace821BT-Roman, serif;"><span style="font-size: 9pt;">CLOCK_REALTIME </span></span><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">can be created.</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">The </span></span><span style="font-family: Monospace821BT-Roman, serif;"><span style="font-size: 9pt;">secons </span></span><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">argument </span></span><span style="font-family: Monospace821BT-Roman, serif;"><span style="font-size: 9pt;">event </span></span><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">points to a structure that contains all the information needed concerning the signal to be generated. This is essentially used to inform the kernel about what kind of event the timer should deliver whenever it “fires.”</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">By setting it </span></span><span style="font-family: Monospace821BT-Roman, serif;"><span style="font-size: 9pt;">NULL</span></span><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">, the system is forced to use default delivery, which is defined to be </span></span><span style="font-family: Monospace821BT-Roman, serif;"><span style="font-size: 9pt;">SIGALRM.</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">The return value from </span></span><span style="font-family: Monospace821BT-Roman, serif;"><span style="font-size: 9pt;">timer_create() </span></span><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">is effectively a small integer that just acts as an index into the kernel’s timer tables.</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><br /></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><span style="font-family: HelveticaNeue-BoldItalic, serif;"><span style="font-size: 10pt;"><b>7.8 Type of Timers</b></span></span><span style="font-family: HelveticaNeue-BoldItalic, serif;"><span style="font-size: 10pt;"><i><b> </b></i></span></span><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">Having created the timer, it is necessary to decide what kind of timer functionality it will have – a one-shot timer or a repeating timer.</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">A one-shot timer is armed with an initial expiration time, expires only once, and then is disarmed. A timer becomes a periodic or repeating timer with the addition of a repetition value.</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">The timer expires, then loads the repetition interval, rearming the timer to expire after the repetition interval has</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">elapsed.</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">The function </span></span><span style="font-family: Monospace821BT-Roman, serif;"><span style="font-size: 9pt;">timer_settime() </span></span><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">actually sets and starts the timer.</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">The struct </span></span><span style="font-family: Monospace821BT-Roman, serif;"><span style="font-size: 9pt;">itimerspec </span></span><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">simply incorporates two </span></span><span style="font-family: Monospace821BT-Roman, serif;"><span style="font-size: 9pt;">timespecs </span></span><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">to form a high-resolution interval timer structure:</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">struct itimerspec{</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 1in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">struct timespec it_value, it_interval;</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">};</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">int timer_settime (timer_t timerid, int flag,</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">struct itimerspec *value, struct itimerspec *oldvalue);</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">This function sets the next expiration time for the timer specified. If flag is set to </span></span><span style="font-family: Monospace821BT-Roman, serif;"><span style="font-size: 9pt;">Timer_ABSTIME</span></span><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">, then the timer will expire when the clock reaches the absolute value specified by </span></span><span style="font-family: Monospace821BT-Roman, serif;"><span style="font-size: 9pt;">*value.it_value</span></span><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">.</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">If flag is not set to </span></span><span style="font-family: Monospace821BT-Roman, serif;"><span style="font-size: 9pt;">TIMER_ABSTIME</span></span><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">, the timer will expire when the interval specified by </span></span><span style="font-family: Monospace821BT-Roman, serif;"><span style="font-size: 9pt;">value->it_value </span></span><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">passes.</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">If </span></span><span style="font-family: Monospace821BT-Roman, serif;"><span style="font-size: 9pt;">*value.it_interval </span></span><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">is nonzero, then a periodic timer will go off every </span></span><span style="font-family: Monospace821BT-Roman, serif;"><span style="font-size: 9pt;">value->it_interval </span></span><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">after </span></span><span style="font-family: Monospace821BT-Roman, serif;"><span style="font-size: 9pt;">value->it_value </span></span><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">has expired. Any previous timer setting is returned in </span></span><span style="font-family: Monospace821BT-Roman, serif;"><span style="font-size: 9pt;">*oldvalue</span></span><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">. For example, to specify a timer that executes only once, 10.5 seconds from now, specify the following values for the members of the </span></span><span style="font-family: Monospace821BT-Roman, serif;"><span style="font-size: 9pt;">itimerspec </span></span><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">structure:</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">newtimer_setting.it_value.tv_sec = 10;</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">newtimer_setting.it_value.tv_nsec = 500000000;</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">newtimer_setting.it_interval.tv_sec = 0;</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">newtimer_setting.it_interval.tv_nsec = 0;</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">To arm a timer to execute 15 seconds from now and then at 0.25-second intervals, specify the following values:</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">newtimer_setting.it_value.tv_sec = 15;</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">newtimer_setting.it_value.tv_nsec = 0;</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">newtimer_setting.it_interval.tv_sec = 0;</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">newtimer_setting.it_interval.tv_nsec = 250000000;</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><br /></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><span style="font-family: HelveticaNeue-Bold, serif;"><span style="font-size: 10pt;"><b>8. POSIX Memory Locking</b></span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">Virtual memory, which allows for mapping of virtual addresses to different physical locations, is useful in real-time systems. In addition to paging (and associated thrashing problems), the key disadvantage of page swapping in real-time systems is the lack of predictable execution time.</span></span></p><p align="center" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><img align="bottom" border="0" height="146" name="Picture 3" src="file:///tmp/lu7520d9fxs0.tmp/lu7520d9fy2d_tmp_ed5bfd01be9e0006.png" width="436" /></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">It is not uncommon that an application demands responsiveness that may be measured in microseconds, and the program is waiting milliseconds or more while the operating system is involved in disk access and in fetching the desired instructions in the memory.</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">In a real-time system, it is often desirable to lock the important process’s memory down so that the operating system does not page it, thereby making the execution times more predictable. In the case of many large processes, it is desirable to lock just the time-critical portions of these processes.</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">POSIX allows for a simple procedure to lock the entire process down.</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">#include <unistd.h></span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">#ifdef _POSIX_MEMLOCK</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">#include<sys/mman.h></span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">int mlockall(int flags);</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">int munlockall(void);</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">The function </span></span><span style="font-family: Monospace821BT-Roman, serif;"><span style="font-size: 9pt;">mlockall </span></span><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">tries to lock all the memory down; this includes the program text, data, heap, and stack (Figure 3.24). Locking a process includes shared libraries that can be mapped in and other shared memory areas that the process may</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">be using.</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">Depending on the flags being specified, it will either lock all process’s current mappings (</span></span><span style="font-family: Monospace821BT-Roman, serif;"><span style="font-size: 9pt;">MCL_CURRENT</span></span><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">), or the process’s current mapping and any future mappings that it may make (</span></span><span style="font-family: Monospace821BT-Roman, serif;"><span style="font-size: 9pt;">MCL_CURRENT|MCL_FUTURE</span></span><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">).</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">The function </span></span><span style="font-family: Monospace821BT-Roman, serif;"><span style="font-size: 9pt;">munlockall </span></span><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">unlocks all locked memory and notifies the system that it is okay to page this process’s memory if the system must do so. Assuming that </span></span><span style="font-family: Monospace821BT-Roman, serif;"><span style="font-size: 9pt;">mlockall </span></span><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">is called with the </span></span><span style="font-family: Monospace821BT-Roman, serif;"><span style="font-size: 9pt;">MCL_FUTURE </span></span><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">flag being set, the rightmost column in Instead of locking down the entire process, POSIX permits the user to lock down part of the process:</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">#include <unistd.h></span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">#ifdef _POSIX_MEMLOCK_RANGE</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">#include<sys/mman.h></span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">int mlock(void *address, size_t length);</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">int munlock(void *address, size_t length);</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><span style="font-family: Courier New, serif;"><span style="font-size: 8pt;">#endif</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in; margin-left: 0.5in;"><br /></p><p align="center" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><img align="bottom" border="0" height="161" name="Picture 1" src="file:///tmp/lu7520d9fxs0.tmp/lu7520d9fy2d_tmp_dd8459ade36c5233.png" width="284" /> <img align="bottom" border="0" height="163" name="Picture 2" src="file:///tmp/lu7520d9fxs0.tmp/lu7520d9fy2d_tmp_6025cf741b5caec6.png" width="305" /></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">The function </span></span><span style="font-family: Monospace821BT-Roman, serif;"><span style="font-size: 9pt;">mlock </span></span><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">locks down the address range being specified, and </span></span><span style="font-family: Monospace821BT-Roman, serif;"><span style="font-size: 9pt;">munlock </span></span><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">unlocks a range. If </span></span><span style="font-family: Monospace821BT-Roman, serif;"><span style="font-size: 9pt;">mlock </span></span><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">is called for a range of memory, then</span></span><span style="font-family: Monospace821BT-Roman, serif;"><span style="font-size: 9pt;"> </span></span><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">calling </span></span><span style="font-family: Monospace821BT-Roman, serif;"><span style="font-size: 9pt;">munlockall </span></span><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">unlocks the memory that has been locked with </span></span><span style="font-family: Monospace821BT-Roman, serif;"><span style="font-size: 9pt;">mlock</span></span><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">.</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">It is</span></span><span style="font-family: Monospace821BT-Roman, serif;"><span style="font-size: 9pt;"> </span></span><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">not possible to lock memory for all of a small section of code, then unlock it.</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">Memory locking is a global technique that should not be performed by small, transient sections of code.</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">In general, once a memory is locked, it should be locked down until the application is out of “real-time mode.”</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">The function </span></span><span style="font-family: Monospace821BT-Roman, serif;"><span style="font-size: 9pt;">mlock </span></span><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">can cause a segmentation fault if an address is passed to it where there is not any memory for executable code.</span></span></p><p align="justify" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; direction: ltr; font-size: 12pt; line-height: 18.4px; margin-bottom: 0in;"><span style="font-family: Times-Roman, serif;"><span style="font-size: 10pt;">As can be seen from this example, memory locking decreases execution times for the locked modules and, more importantly, can be used to guarantee execution time.</span></span></p><p><span style="font-family: Times-Roman, serif; font-size: 10pt;">At the same time, it makes fewer pages available for the application, encouraging contention.</span> </p>Nischal Lal Shresthahttp://www.blogger.com/profile/05625422095651611201noreply@blogger.com0tag:blogger.com,1999:blog-8831307421570903483.post-56590153498947304432021-11-26T19:56:00.002-08:002021-11-26T19:56:25.271-08:00Differentiate Between Aperiodic, Periodic and Sporadic Tasks of an Real-Time System<p> <b>Aperiodic Task</b></p><p>Real time systems are required to respond to external events which occur at random instant of time. The system execute a set of job in response to these events. The release time of these jobs are not known until the event triggering.</p><p>Example includes Garbage Collection, Typical Branch Instruction</p><p><br /></p><p><b>Periodic Task</b></p><p>Periodic tasks are time driven i.e the characteristics are known in advance and they execute at periodical instants of time. Every task T_i is characterized by (p_i, e_i) where p_i is task period and e_i is the worst case execution time, P_i is the minimum time period between job release.</p><p>Example includes cyclic code, processed schedule by internal clock.</p><p><br /></p><p><b>Sporadic Task</b></p><p>Sporadic Task are the jobs with hard deadlines. These jobs are executed to accomplish the mode change. Every task is characterized by arrival time and deadline. </p>Nischal Lal Shresthahttp://www.blogger.com/profile/05625422095651611201noreply@blogger.com0tag:blogger.com,1999:blog-8831307421570903483.post-46789601002337832562021-11-26T19:56:00.001-08:002021-11-26T19:56:08.731-08:00The scarcity of NFT is just a lie? Does the value of NFT come from scarcity?<p><span style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; text-align: justify; vertical-align: inherit;"><br /></span></p><p><span style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; text-align: justify; vertical-align: inherit;"><br /></span></p><p><span style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; text-align: justify; vertical-align: inherit;"></span></p><div class="separator" style="clear: both; text-align: center;"><span style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; text-align: justify; vertical-align: inherit;"><a href="https://blogger.googleusercontent.com/img/a/AVvXsEhT-lWRRSziqsH7Q3hSxyOqwy4gcNnZNGymlLQQ0I07CE9l5W16ctTRKxeVdsEgHnb5Cu0pRdeEqcXNKSE5Vi53Kf4fkakKOluNRTrgubS3y3gic526oRxXJXs88_Wm-0JtebMXnwvl3C_22x6rLrys6G6jlMCRQpzPQ5kvK-FOqg203Iy7oJhdhpzm=s1000" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="1000" data-original-width="1000" height="640" src="https://blogger.googleusercontent.com/img/a/AVvXsEhT-lWRRSziqsH7Q3hSxyOqwy4gcNnZNGymlLQQ0I07CE9l5W16ctTRKxeVdsEgHnb5Cu0pRdeEqcXNKSE5Vi53Kf4fkakKOluNRTrgubS3y3gic526oRxXJXs88_Wm-0JtebMXnwvl3C_22x6rLrys6G6jlMCRQpzPQ5kvK-FOqg203Iy7oJhdhpzm=w640-h640" width="640" /></a></span></div><span style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; text-align: justify; vertical-align: inherit;"><br />Where does the value come from? </span><span style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; text-align: justify; vertical-align: inherit;">Is it inherent to tangible objects? </span><span style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; text-align: justify; vertical-align: inherit;">Is it in manufacturing; is there an advertisement behind it? </span><span style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; text-align: justify; vertical-align: inherit;">No matter what you believe in, it all comes down to effort. The effort someone puts to create something is the input and output of human creativity. </span><span style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; text-align: justify; vertical-align: inherit;">This article explores the efforts in the digital art space and the role of non-fungible tokens (NFTs).</span><p></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">What is NFT? </span><span style="box-sizing: inherit; vertical-align: inherit;">In short, </span></span><span style="box-sizing: inherit; font-weight: bolder;">it is the only verifiable digital object that cannot be changed in the system in which it was created</span><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;"> . </span><span style="box-sizing: inherit; vertical-align: inherit;">Think of it as a "support contract" or "appreciation contract" to encourage creators and provide a source for their digital works.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><img alt="Viewpoint: Does the value of NFT come from scarcity?" loading="lazy" src="https://web.archive.org/web/20210409123715im_/https://img.chainnews.com/material/images/548bc87bb570b04a55e36852d5199b26.jpg-article" style="border: 0px; box-sizing: inherit; display: block; height: auto; margin: 1rem auto; max-width: 100%;" /></p><h3 id="_1" style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 22px; line-height: 1.5; margin-bottom: 1.2rem; margin-top: 0.4rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">Digital Dadaism</span></h3><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">Digital assets appear in many forms: authenticity certificates, ringtones, music, audiobooks, videos, downloadable content (DLC), and now NFTs. </span><span style="box-sizing: inherit; font-weight: bolder;">The basic motivation of the people is some people's demand for collection and others' demand for customization</span><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;"> . </span><span style="box-sizing: inherit; vertical-align: inherit;">In the past month, there have been several high-profile high-priced NFT sales. </span><span style="box-sizing: inherit; vertical-align: inherit;">Although the US dollar currency is the framework, these are actually </span><span style="box-sizing: inherit; vertical-align: inherit;">paid in </span></span><span class="project-highlight" id="project-ethereum" style="box-sizing: inherit; cursor: pointer; font-weight: 700; margin: 0px 0.1em; position: relative;" tabindex="0"><span style="border-bottom: 0.05rem solid rgb(239, 239, 239); box-sizing: inherit; padding-bottom: 0.1rem;"><span style="box-sizing: inherit; vertical-align: inherit;">Ethereum</span></span></span><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;"> (ETH). </span><span style="box-sizing: inherit; vertical-align: inherit;">In the past five years, the dollar value of Ether has ranged from US$10 to US$2,000.</span></span></p><h3 id="pixelaire" style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 22px; line-height: 1.5; margin-bottom: 1.2rem; margin-top: 0.4rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">Who wants to be a Pixelaire! </span><span style="box-sizing: inherit; vertical-align: inherit;">?</span></span></h3><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><img alt="Viewpoint: Does the value of NFT come from scarcity?" loading="lazy" src="https://web.archive.org/web/20210409123715im_/https://img.chainnews.com/material/images/014d2ce5d871c0a0dfe1e7c410a6dba2.jpg-article" style="border: 0px; box-sizing: inherit; display: block; height: auto; margin: 1rem auto; max-width: 100%;" /></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">Expensive pixels-three pictures (the third is 1x1 transparent pixels), a total of about 46255ETH (46,000-92.5 million US dollars).</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">The following is an analysis of three sales situations using input and output, the above dollar range, and the'price per pixel' (PPP) of each image above:</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><img alt="Viewpoint: Does the value of NFT come from scarcity?" loading="lazy" src="https://web.archive.org/web/20210409123715im_/https://img.chainnews.com/material/images/2a0f5cfb444868dd61d4ccadf59e99f6.jpg-article" style="border: 0px; box-sizing: inherit; display: block; height: auto; margin: 1rem auto; max-width: 100%;" /></p><h3 id="_2" style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 22px; line-height: 1.5; margin-bottom: 1.2rem; margin-top: 0.4rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">Knowledge pixel</span></h3><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">The common denominator here is that all participants have a particular interest in the currency used and its supporting system. </span><span style="box-sizing: inherit; vertical-align: inherit;">Those cryptocurrency enthusiasts want to support new online markets that rely on their shares. </span><span style="box-sizing: inherit; vertical-align: inherit;">The most interesting is the sale of Beetle and Metakovan, both of which are business partners of a company (holding 2% or 200,000 tokens and 59% or 5.9 million tokens, respectively), which sells tokens for the art of Beele , Used in its open art projects.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">What are you actually buying? </span><span style="box-sizing: inherit; vertical-align: inherit;">artwork? </span><span style="box-sizing: inherit; vertical-align: inherit;">Token? </span></span><span style="box-sizing: inherit; font-weight: bolder;">Strictly speaking, this is a data link representing NFT</span><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;"> . </span><span style="box-sizing: inherit; vertical-align: inherit;">Some NFT projects do better than others. </span><span style="box-sizing: inherit; vertical-align: inherit;">For example, CryptoPunks is an index of an address array. All data is unique and stored on a chain in a centralized server. </span><span style="box-sizing: inherit; vertical-align: inherit;">In addition, CryptoKitties actually includes unique data in their NFT and adds gamification elements to their contracts. </span><span style="box-sizing: inherit; vertical-align: inherit;">There are other platforms that allow further creativity, such as Async.art and their programmable art methods. </span><span style="box-sizing: inherit; vertical-align: inherit;">In terms of data (metadata), the best method is to decentralize file storage, and the most popular is InterPlanetary File System (IPFS). </span></span><span style="box-sizing: inherit; font-weight: bolder;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">This technique considers the content of the file rather than the location or name. </span><span style="box-sizing: inherit; vertical-align: inherit;">The format of metadata files has not yet been standardized.</span></span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">Unfortunately, most markets and platforms use the Ethereum network. </span><span style="box-sizing: inherit; vertical-align: inherit;">Currently, this is an expensive traditional decentralized blockchain, which is a layer-1 network at the base layer. </span><span style="box-sizing: inherit; vertical-align: inherit;">The rapid development of technology makes it difficult to believe that major changes in scalability, safety, and sustainability can be avoided in a reasonable period of time.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">Energy consumption lies in the inefficiency of using Proof of Work (PoW) to provide a safe state for all participants. </span><span style="box-sizing: inherit; font-weight: bolder;">The result of the trade-off is that safety is higher than availability</span><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;"> . </span><span style="box-sizing: inherit; vertical-align: inherit;">The most basic analogy is to imagine that if participants A and B own an acre of forest, they both have a business opportunity to reward the person who cut down 100 trees first. </span><span style="box-sizing: inherit; vertical-align: inherit;">Suppose A reaches the goal and wins the business contract, B throws away all the 99 trees they cut, and the competition starts again.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">The cost is high, not only because of the environment, but also because of the transaction procedures. </span><span style="box-sizing: inherit; vertical-align: inherit;">Even before the sale, a creator has already paid the cost of minting NFT on the Ethereum network. </span><span style="box-sizing: inherit; vertical-align: inherit;">According to the recent U.S. dollar prices and some additional fees on platforms and markets, the range is 100-600 U.S. dollars. </span><span style="box-sizing: inherit; vertical-align: inherit;">Any future contract owner must consider these costs before supporting the creator. </span><span style="box-sizing: inherit; vertical-align: inherit;">Even before that, creators and their supporters had to go through a process of creating a wallet and obtaining cryptocurrency, and its user interface (UI) still needed improvement.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">Of course, when selling an NFT at the high price of ETH (thousands of dollars and millions of dollars), this cost is negligible. </span><span style="box-sizing: inherit; font-weight: bolder;">As a new creator, this is a huge barrier to entry</span><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;"> . </span><span style="box-sizing: inherit; vertical-align: inherit;">The absurd thing is that this process even advocates waiting for the right time of day so that transaction costs will be lower. </span><span style="box-sizing: inherit; vertical-align: inherit;">The current popular planning platforms and markets have become invitation-based to prevent the torrent of hype that attempts to use robots and flippers to amplify. </span><span style="box-sizing: inherit; vertical-align: inherit;">The rankings amplify the sales of top creators through a positive feedback loop. </span><span style="box-sizing: inherit; vertical-align: inherit;">This creates further barriers to entry for legitimate creators.</span></span></p><h3 id="_3" style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 22px; line-height: 1.5; margin-bottom: 1.2rem; margin-top: 0.4rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">Virtual symbiosis</span></h3><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">Let us step out of this scene and focus on the positive side. </span><span style="box-sizing: inherit; vertical-align: inherit;">The output data is visible, but the underlying technology is invisible. </span><span style="box-sizing: inherit; vertical-align: inherit;">The greatness of the modern blockchain field, and the beauty of decentralization, is that </span></span><span style="box-sizing: inherit; font-weight: bolder;">no one is subject to any particular technology</span><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;"> ; especially when there is no staking. </span><span style="box-sizing: inherit; vertical-align: inherit;">Using the most popular blockchain is only to truly support the technology, not to support the efforts of creators. </span><span style="box-sizing: inherit; vertical-align: inherit;">It is fascinating to see enthusiasts insisting on using outdated and inadequate technology because of their special interests. </span></span><span style="box-sizing: inherit; font-weight: bolder;">Technology prioritizes individual sovereignty rather than centralized control and interests</span><span style="box-sizing: inherit; vertical-align: inherit;"> .</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">There are already better low-cost and eco-friendly technologies. </span><span style="box-sizing: inherit; vertical-align: inherit;">EOS and Wax sidechains are already available. </span><span style="box-sizing: inherit; vertical-align: inherit;">Polkadot and NEAR are being tested and released and are more decentralized than EOS. </span><span style="box-sizing: inherit; vertical-align: inherit;">Wax advertises itself as the "King of NFTs" with the goal of video games and entertainment attributes. </span><span style="box-sizing: inherit; vertical-align: inherit;">AtomicHub uses Wax and allows finer control in the construction of NFTs. </span><span style="box-sizing: inherit; vertical-align: inherit;">It works harder than some platforms and markets, but it has the ability to serve single and multiple creators. </span><span style="box-sizing: inherit; vertical-align: inherit;">Multiple creators can act as a collective and can be hosted on a portfolio or a series of portfolios to create a network circle. </span><span style="box-sizing: inherit; vertical-align: inherit;">When making a sale, a 2% platform commission fee will be charged; this is very different from the method seen before.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">You need to create a wallet and get the corresponding cryptocurrency, which cannot be bypassed. </span><span style="box-sizing: inherit; vertical-align: inherit;">But 2-3 clicks are always better than browsing the setting creation or support on a different website. </span><span style="box-sizing: inherit; vertical-align: inherit;">If Ethereum can act together one day, there will be bridges in all these implementations that allow transfer from one blockchain to another.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">It is becoming more and more obvious that </span><span style="box-sizing: inherit; font-weight: bolder;">browsers are the main observers entering the digital world</span><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;"> , and supporting this attention will benefit browser creators. </span><span style="box-sizing: inherit; vertical-align: inherit;">Brave is the only browser that is positioned as the default gateway for individuals to interact with cryptocurrencies without the friction mentioned earlier. </span><span style="box-sizing: inherit; vertical-align: inherit;">Imagine that a creator uses attributes on semantic tags to allow patronage and purchase of certain data? </span><span style="box-sizing: inherit; vertical-align: inherit;">This will bypass websites that use virtual currencies to visualize appreciation, and these virtual currencies cannot be exchanged for monetary value. </span><span style="box-sizing: inherit; vertical-align: inherit;">The preferred end result is a micro-transaction system, if done well, currency can provide support. </span><span style="box-sizing: inherit; vertical-align: inherit;">This opens the door for creators who create value on the platform and benefit from this mutual relationship.</span></span></p><h3 id="_4" style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 22px; line-height: 1.5; margin-bottom: 1.2rem; margin-top: 0.4rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">Scarcity is a lie</span></h3><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">In mature tangible markets, the term "scarcity" is used to express value. </span><span style="box-sizing: inherit; vertical-align: inherit;">Further value comes from the owner's protection of this scarce resource. </span><span style="box-sizing: inherit; vertical-align: inherit;">Tangible collectors can buy, sell and trade, but cannot copy. </span><span style="box-sizing: inherit; vertical-align: inherit;">Digitization removes all of this and preserves production efforts. </span><span style="box-sizing: inherit; vertical-align: inherit;">The traditional market ideology is not applicable in virtual space. </span></span><span style="box-sizing: inherit; font-weight: bolder;">Only through artificial means can the word'scarcity' exist in the numbers</span><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;"> . </span><span style="box-sizing: inherit; vertical-align: inherit;">Scarcity means technically unpopular and obsolete. </span><span style="box-sizing: inherit; vertical-align: inherit;">This is the democratization of the market that is difficult for ordinary people to understand. </span><span style="box-sizing: inherit; vertical-align: inherit;">The new system requires new terminology. </span><span style="box-sizing: inherit; vertical-align: inherit;">The new perspective is different from the way society treats concepts. </span><span style="box-sizing: inherit; vertical-align: inherit;">Stop selfishly setting up warehouses with a total of $100 billion for tax collection purposes on the port.</span></span></p><h3 id="_5" style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 22px; line-height: 1.5; margin-bottom: 1.2rem; margin-top: 0.4rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">Multiplicity is prestige</span></h3><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">Technology allows information to spread. </span><span style="box-sizing: inherit; vertical-align: inherit;">The perfect copy can be transferred without restrictions. </span><span style="box-sizing: inherit; vertical-align: inherit;">It is not a single copy, but anyone can make a copy according to their needs. </span></span><span style="box-sizing: inherit; font-weight: bolder;">Value is determined by the number of content holders, not by unique owners</span><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;"> . </span><span style="box-sizing: inherit; vertical-align: inherit;">There is no longer any incentive to restrict usage rights. </span><span style="box-sizing: inherit; vertical-align: inherit;">One person's output can be enjoyed by everyone. </span><span style="box-sizing: inherit; vertical-align: inherit;">Think of it as free advertising; digital word-of-mouth. </span><span style="box-sizing: inherit; vertical-align: inherit;">The real psychological change is that popularity conveys value in society.</span></span></p><h3 id="_6" style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 22px; line-height: 1.5; margin-bottom: 1.2rem; margin-top: 0.4rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">Dissolution of institutions</span></h3><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">The auction house shows that 96.1% of sales come from male creators. </span><span style="box-sizing: inherit; vertical-align: inherit;">There are no women among the 40 highest-selling artists. </span><span style="box-sizing: inherit; vertical-align: inherit;">80% of creatives in New York’s top galleries are white. </span><span style="box-sizing: inherit; vertical-align: inherit;">According to statistics, a maker has very little chance of success, because there are many factors beyond their control.</span></span></p><h3 id="_7" style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 22px; line-height: 1.5; margin-bottom: 1.2rem; margin-top: 0.4rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">Secondary market</span></h3><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">Most makers make a living by serving their customers. </span><span style="box-sizing: inherit; vertical-align: inherit;">Now through NFTs, they can directly reach supporters. </span><span style="box-sizing: inherit; vertical-align: inherit;">In the traditional market, these creators usually only get paid from the initial sales, and supporters have the ability to resell the creator’s output, which usually generates higher value. </span><span style="box-sizing: inherit; vertical-align: inherit;">NFTs allow creators to be paid in the secondary market. </span><span style="box-sizing: inherit; vertical-align: inherit;">Currently, platforms and markets have a 5-15% royalty range, but the real power lies in the creative community; a sustainable and transparent platform is required to allow makers to get most of the sales returns, and supporters get 5-15% of royalties. What they can do.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; outline: 0px; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">Here is an opportunity for </span><span style="box-sizing: inherit; font-weight: bolder;">creators to unite, stand on their own beliefs, and make this opportunity more fair</span><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;"> . </span><span style="box-sizing: inherit; vertical-align: inherit;">As mentioned earlier, the overall goal should be to bring a micro-transaction system that supports creators. </span><span style="box-sizing: inherit; vertical-align: inherit;">The focus of this article is on digital art, but this applies to all creative undertakings: cultural creativity, fashion, jewelry, music, etc. </span><span style="box-sizing: inherit; vertical-align: inherit;">If the maker liberated us from the system, the enterprise and the corruption, it would be a beautiful story.</span></span></p>Nischal Lal Shresthahttp://www.blogger.com/profile/05625422095651611201noreply@blogger.com0tag:blogger.com,1999:blog-8831307421570903483.post-80873339335617751732021-11-26T19:51:00.003-08:002021-11-26T19:51:47.631-08:00An overview of the timeline of Ethereum's major events in 2021<p></p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/a/AVvXsEhOawtdJHpyNemvpIGkh7Gs_LYM83prTfPUYsCbK70XUKzO82OdHDGgHmjOAQpUVTPSRo_znxu_XxYwe3tmyoslVQtErN1OFcpZ2F39nvREYO09OAOyVk8NDsGfL36wvcLmGt_2E44MPvBe_Y4O_rM80wLgh83BdBUqO3ceyV-26uc5fPaGfE0biPfB=s612" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="408" data-original-width="612" height="426" src="https://blogger.googleusercontent.com/img/a/AVvXsEhOawtdJHpyNemvpIGkh7Gs_LYM83prTfPUYsCbK70XUKzO82OdHDGgHmjOAQpUVTPSRo_znxu_XxYwe3tmyoslVQtErN1OFcpZ2F39nvREYO09OAOyVk8NDsGfL36wvcLmGt_2E44MPvBe_Y4O_rM80wLgh83BdBUqO3ceyV-26uc5fPaGfE0biPfB=w640-h426" width="640" /></a></div><br /><div class="separator" style="clear: both; text-align: center;"><br /></div><br /> <p></p><p><span style="background-color: white; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; font-weight: bolder; text-align: justify;">First quarter of 2021 (January to March)</span></p><ul style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; list-style-image: initial; list-style-position: inside; margin: 1.6rem 0px 1.6rem 1.6rem; padding: 0px; text-align: justify;"><li style="box-sizing: inherit; margin-top: 0.4rem;"><p style="box-sizing: inherit; display: inline; hyphens: auto; margin: 0px 0px 1.6rem;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">March 18th-Rocketpool final beta test. </span><span style="box-sizing: inherit; vertical-align: inherit;">in progress.</span></span></p></li><li style="box-sizing: inherit; margin-top: 0.4rem;"><p style="box-sizing: inherit; display: inline; hyphens: auto; margin: 0px 0px 1.6rem;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">March 24-Hermez goes live. </span><span style="box-sizing: inherit; vertical-align: inherit;">Now Tether can be cast on the second layer of the Ethereum network.</span></span></p></li><li style="box-sizing: inherit; margin-top: 0.4rem;"><p style="box-sizing: inherit; display: inline; hyphens: auto; margin: 0px 0px 1.6rem;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">March 24th-Eth1 Rinksby testnet Berlin upgrade. </span><span style="box-sizing: inherit; vertical-align: inherit;">The final stage of testing before April 14. </span><span style="box-sizing: inherit; vertical-align: inherit;">Everything is in plan.</span></span></p></li></ul><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; font-weight: bolder;">The second quarter of 2021 (April to June)</span></p><ul style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; list-style-image: initial; list-style-position: inside; margin: 1.6rem 0px 1.6rem 1.6rem; padding: 0px; text-align: justify;"><li style="box-sizing: inherit; margin-top: 0.4rem;"><p style="box-sizing: inherit; display: inline; hyphens: auto; margin: 0px 0px 1.6rem;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">April 14th-Eth1 Berlin upgrade. </span><span style="box-sizing: inherit; vertical-align: inherit;">Track progress here.</span></span></p></li><li style="box-sizing: inherit; margin-top: 0.4rem;"><p style="box-sizing: inherit; display: inline; hyphens: auto; margin: 0px 0px 1.6rem;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">Mid-April-RocketPool mainnet launch. </span><span style="box-sizing: inherit; vertical-align: inherit;">Decentralized pledge service!</span></span></p></li><li style="box-sizing: inherit; margin-top: 0.4rem;"><p style="box-sizing: inherit; display: inline; hyphens: auto; margin: 0px 0px 1.6rem;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">April-The next stage of Immutable X goes online-opening the market. </span><span style="box-sizing: inherit; vertical-align: inherit;">It means a lot to NFT.</span></span></p></li><li style="box-sizing: inherit; margin-top: 0.4rem;"><p style="box-sizing: inherit; display: inline; hyphens: auto; margin: 0px 0px 1.6rem;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">April-The first bridge of Optimism / DAI. </span><span style="box-sizing: inherit; vertical-align: inherit;">Cancel the first phase of the 7-day optimistic rollup withdrawal lock-up period.</span></span></p></li><li style="box-sizing: inherit; margin-top: 0.4rem;"><p style="box-sizing: inherit; display: inline; hyphens: auto; margin: 0px 0px 1.6rem;"><span style="box-sizing: inherit; vertical-align: inherit;">April-Coinbase pledge service goes online and the company goes public</span></p></li><li style="box-sizing: inherit; margin-top: 0.4rem;"><p style="box-sizing: inherit; display: inline; hyphens: auto; margin: 0px 0px 1.6rem;"><span style="box-sizing: inherit; vertical-align: inherit;">Late April-Optimism public testnet goes online.</span></p></li><li style="box-sizing: inherit; margin-top: 0.4rem;"><p style="box-sizing: inherit; display: inline; hyphens: auto; margin: 0px 0px 1.6rem;"><span style="box-sizing: inherit; vertical-align: inherit;">April-Arbitrum optimistic rollup mainnet (according to their announcement of v4 candidate testnet)</span></p></li><li style="box-sizing: inherit; margin-top: 0.4rem;"><p style="box-sizing: inherit; display: inline; hyphens: auto; margin: 0px 0px 1.6rem;"><span style="box-sizing: inherit; vertical-align: inherit;">April-zkSync 1.x tradeable tokens in the second-tier network.</span></p></li><li style="box-sizing: inherit; margin-top: 0.4rem;"><p style="box-sizing: inherit; display: inline; hyphens: auto; margin: 0px 0px 1.6rem;"><span style="box-sizing: inherit; vertical-align: inherit;">May-Uniswap v3</span></p></li><li style="box-sizing: inherit; margin-top: 0.4rem;"><p style="box-sizing: inherit; display: inline; hyphens: auto; margin: 0px 0px 1.6rem;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">Mid-May-Uniswap launches optimistic rollup. </span><span style="box-sizing: inherit; vertical-align: inherit;">Hayden said in this tweet that it will be May 12.</span></span></p></li><li style="box-sizing: inherit; margin-top: 0.4rem;"><p style="box-sizing: inherit; display: inline; hyphens: auto; margin: 0px 0px 1.6rem;"><span style="box-sizing: inherit; vertical-align: inherit;">May-zkSync 2.0 goes online on the public testnet</span></p></li><li style="box-sizing: inherit; margin-top: 0.4rem;"><p style="box-sizing: inherit; display: inline; hyphens: auto; margin: 0px 0px 1.6rem;"><span style="box-sizing: inherit; vertical-align: inherit;">May-zkSync 1.x NFT casting and transfer</span></p></li><li style="box-sizing: inherit; margin-top: 0.4rem;"><p style="box-sizing: inherit; display: inline; hyphens: auto; margin: 0px 0px 1.6rem;"><span style="box-sizing: inherit; vertical-align: inherit;">June-Altair-Eth2 beacon chain/client upgrade, formerly known as HF1</span></p></li><li style="box-sizing: inherit; margin-top: 0.4rem;"><p style="box-sizing: inherit; display: inline; hyphens: auto; margin: 0px 0px 1.6rem;"><span style="box-sizing: inherit; vertical-align: inherit;">June 15-Pass/Fail Hawaii 2022</span></p></li><li style="box-sizing: inherit; margin-top: 0.4rem;"><p style="box-sizing: inherit; display: inline; hyphens: auto; margin: 0px 0px 1.6rem;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">The detailed specification of the merger. </span><span style="box-sizing: inherit; vertical-align: inherit;">The normative PR already exists!</span></span></p></li><li style="box-sizing: inherit; margin-top: 0.4rem;"><p style="box-sizing: inherit; display: inline; hyphens: auto; margin: 0px 0px 1.6rem;"><span style="box-sizing: inherit; vertical-align: inherit;">Synthetix v3/ Synthetic Token Exchange on Layer 2-SNX/ Optimisim Migration Phase 1</span></p></li><li style="box-sizing: inherit; margin-top: 0.4rem;"><p style="box-sizing: inherit; display: inline; hyphens: auto; margin: 0px 0px 1.6rem;"><span style="box-sizing: inherit; vertical-align: inherit;">Connext P2P network release</span></p></li><li style="box-sizing: inherit; margin-top: 0.4rem;"><p style="box-sizing: inherit; display: inline; hyphens: auto; margin: 0px 0px 1.6rem;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">StarkNet planetary phase is released. </span><span style="box-sizing: inherit; vertical-align: inherit;">Single App Rollups</span></span></p></li></ul><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; font-weight: bolder;">3rd quarter of 2021 (July to September)</span></p><ul style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; list-style-image: initial; list-style-position: inside; margin: 1.6rem 0px 1.6rem 1.6rem; padding: 0px; text-align: justify;"><li style="box-sizing: inherit; margin-top: 0.4rem;"><p style="box-sizing: inherit; display: inline; hyphens: auto; margin: 0px 0px 1.6rem;"><span style="box-sizing: inherit; vertical-align: inherit;">July-London upgrade-Eth1 upgrade, incorporating EIP-1559 and ice age delay</span></p></li><li style="box-sizing: inherit; margin-top: 0.4rem;"><p style="box-sizing: inherit; display: inline; hyphens: auto; margin: 0px 0px 1.6rem;"><span style="box-sizing: inherit; vertical-align: inherit;">July-Optimism public mainnet launch</span></p></li><li style="box-sizing: inherit; margin-top: 0.4rem;"><p style="box-sizing: inherit; display: inline; hyphens: auto; margin: 0px 0px 1.6rem;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">August-zkSync 2.0 mainnet released. </span><span style="box-sizing: inherit; vertical-align: inherit;">Realize zk rollup of 20,000 transactions per second.</span></span></p></li><li style="box-sizing: inherit; margin-top: 0.4rem;"><p style="box-sizing: inherit; display: inline; hyphens: auto; margin: 0px 0px 1.6rem;"><span style="box-sizing: inherit; vertical-align: inherit;">Eth1/Eth2 combined product testing.</span></p></li><li style="box-sizing: inherit; margin-top: 0.4rem;"><p style="box-sizing: inherit; display: inline; hyphens: auto; margin: 0px 0px 1.6rem;"><span style="box-sizing: inherit; vertical-align: inherit;">Optimsim realizes fast withdrawal through MakerDao</span></p></li><li style="box-sizing: inherit; margin-top: 0.4rem;"><p style="box-sizing: inherit; display: inline; hyphens: auto; margin: 0px 0px 1.6rem;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">StarkNet constellation stage is released. </span><span style="box-sizing: inherit; vertical-align: inherit;">Zk rollup of multiple apps</span></span></p></li><li style="box-sizing: inherit; margin-top: 0.4rem;"><p style="box-sizing: inherit; display: inline; hyphens: auto; margin: 0px 0px 1.6rem;"><span style="box-sizing: inherit; vertical-align: inherit;">Argent uses zk rollup to achieve two-layer expansion</span></p></li></ul><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; font-weight: bolder;">The fourth quarter of 2021 (October to December)</span></p><ul style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; list-style-image: initial; list-style-position: inside; margin: 1.6rem 0px 1.6rem 1.6rem; padding: 0px; text-align: justify;"><li style="box-sizing: inherit; margin-top: 0.4rem;"><p style="box-sizing: inherit; display: inline; hyphens: auto; margin: 0px 0px 1.6rem;"><span style="box-sizing: inherit; vertical-align: inherit;">Shanghai upgrade-possible Eth1/Eth2 merger</span></p></li><li style="box-sizing: inherit; margin-top: 0.4rem;"><p style="box-sizing: inherit; display: inline; hyphens: auto; margin: 0px 0px 1.6rem;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">The StarkNet universe phase is released. </span><span style="box-sizing: inherit; vertical-align: inherit;">Decentralized zk rollup.</span></span></p></li></ul><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; font-weight: bolder;">1st quarter of 2022 (January to March)</span></p><ul style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; list-style-image: initial; list-style-position: inside; margin: 1.6rem 0px 1.6rem 1.6rem; padding: 0px; text-align: justify;"><li style="box-sizing: inherit; margin-top: 0.4rem;"><span style="box-sizing: inherit; vertical-align: inherit;">Ethereum upgrade implements validator withdrawal/cleanup after merger.</span></li></ul><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; font-weight: bolder;">2022 TBC</span></p><ul style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; list-style-image: initial; list-style-position: inside; margin: 1.6rem 0px 1.6rem 1.6rem; outline: 0px; padding: 0px; text-align: justify;"><li style="box-sizing: inherit; margin-top: 0.4rem;"><p style="box-sizing: inherit; display: inline; hyphens: auto; margin: 0px 0px 1.6rem;"><span style="box-sizing: inherit; vertical-align: inherit;">Eth2 sharding</span></p></li><li style="box-sizing: inherit; margin-top: 0.4rem;"><p style="box-sizing: inherit; display: inline; hyphens: auto; margin: 0px 0px 1.6rem;"><span style="box-sizing: inherit; vertical-align: inherit;">Eth2 light client</span></p></li><li style="box-sizing: inherit; margin-top: 0.4rem; outline: 0px;"><p style="box-sizing: inherit; display: inline; hyphens: auto; margin: 0px 0px 1.6rem;"><span style="box-sizing: inherit; vertical-align: inherit;">June 21-30-Hawaii 2022</span></p></li></ul>Nischal Lal Shresthahttp://www.blogger.com/profile/05625422095651611201noreply@blogger.com0tag:blogger.com,1999:blog-8831307421570903483.post-8366215776053329802021-11-26T19:47:00.002-08:002021-11-26T19:47:24.200-08:00How to understand the homogenized "NFT"?<p> </p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/a/AVvXsEgYCfG-2yv77b1PFHlFrzNgXL9g0u_e_PhStPptYjxnzzN8Rh47jO3csDFfAyRhgwHYCQ1c7Jc9SdbHWgKqckqMFafrcqPsGaXAU4pPi07KtXccWsun3HgzlADAyDqESdG6imCONZmi0FXsQde7gXILE2jHhdoFWEyMQk8ZSyVcBrK2ZgOOqT9ImH5t=s610" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="474" data-original-width="610" height="498" src="https://blogger.googleusercontent.com/img/a/AVvXsEgYCfG-2yv77b1PFHlFrzNgXL9g0u_e_PhStPptYjxnzzN8Rh47jO3csDFfAyRhgwHYCQ1c7Jc9SdbHWgKqckqMFafrcqPsGaXAU4pPi07KtXccWsun3HgzlADAyDqESdG6imCONZmi0FXsQde7gXILE2jHhdoFWEyMQk8ZSyVcBrK2ZgOOqT9ImH5t=w640-h498" width="640" /></a></div><br /><p></p><h3 id="_1" style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 22px; line-height: 1.5; margin-bottom: 1.2rem; margin-top: 0.4rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">Introduction</span></h3><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">Recently, after appearing on the famous American comedy show "Saturday Night Live", NFT (non-homogeneous token) out of the circle is already a certainty. </span><span style="box-sizing: inherit; vertical-align: inherit;">This is big news in helping creators earn income! </span><span style="box-sizing: inherit; vertical-align: inherit;">Driven by the NFT boom, blockchain technology will also be further widely implemented.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">However, the "NFT" concept also has a serious problem, which fortunately can be solved. </span><span style="box-sizing: inherit; vertical-align: inherit;">Let's take a look at the following example: the favorite of science fiction fans-UFO.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><img alt="Viewpoint | How to understand the homogenized "NFT"?" loading="lazy" src="https://web.archive.org/web/20210411190959im_/https://img.chainnews.com/material/images/d8eec427661bbde03267c42c775c7197.jpg-article" style="border: 0px; box-sizing: inherit; display: block; height: auto; margin: 1rem auto; max-width: 100%;" /><em style="box-sizing: inherit; color: #737373; display: inline-block; font-size: 0.7rem; text-align: center; width: 688px;"><a href="https://web.archive.org/web/20210411190959mp_/https://www.theguardian.com/us-news/2021/mar/22/us-government-ufo-report-sightings" style="background-color: transparent; border-bottom: 0.05rem solid rgb(239, 239, 239); box-sizing: inherit; color: #0056ff; padding-bottom: 0.1rem; text-decoration-line: none;" target="_blank"><span style="box-sizing: inherit; vertical-align: inherit;">https://www.theguardian.com/us-news/2021/mar/22/us-government-ufo-report-sightings</span></a></em></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">Just like those "unexplainable" UFO bizarre phenomena, </span><span style="box-sizing: inherit; font-weight: bolder;">NFTs also have the "unexplainable" mystery of homogenization</span><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;"> . </span><span style="box-sizing: inherit; vertical-align: inherit;">For example, is the TAPE token issued by RAC "NFT"? </span><span style="box-sizing: inherit; vertical-align: inherit;">Is Unisocks "NFT"? </span><span style="box-sizing: inherit; vertical-align: inherit;">"NFTs" are issued in limited quantities, but they seem to be interchangeable with each other. Is this a contradiction? </span><span style="box-sizing: inherit; vertical-align: inherit;">Is the fungible ERC1155 token "NFT"?</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">This article will explore these questions and then give gentle answers, hoping to solve the doubts of NFT fans (including myself) and open up a new path of exploration.</span></p><h3 id="_2" style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 22px; line-height: 1.5; margin-bottom: 1.2rem; margin-top: 0.4rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">"Homogenization" in "non-homogenization"</span></h3><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">Grammy Award winner and famous musician RAC is one of the explorers in the field of NFT. </span><span style="box-sizing: inherit; vertical-align: inherit;">At the beginning of 2020, he issued $TAPE, a total of 100 tape tokens. </span><span style="box-sizing: inherit; vertical-align: inherit;">One TAPE token can be exchanged for a physical tape of RAC's "BOY" album. </span><span style="box-sizing: inherit; vertical-align: inherit;">At present, the transaction price of a TAPE token is 4200 US dollars, which has become the most expensive cassette tape ever.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">You want to say that it is a "NFT" token, right? </span><span style="box-sizing: inherit; vertical-align: inherit;">However, one TAPE token can replace any other TAPE token, and each TAPE token is interchangeable. </span><span style="box-sizing: inherit; vertical-align: inherit;">This is exactly in line with the definition of homogenization (not "non-homogeneity"). </span><span style="box-sizing: inherit; vertical-align: inherit;">In addition, the TAPE token adopts the homogenization token standard ERC20 (note that this is not "non-homogeneity"). </span><span style="box-sizing: inherit; vertical-align: inherit;">You can even split a TAPE token for trading. </span><span style="box-sizing: inherit; vertical-align: inherit;">So is TAPE token really "NFT"? </span><span style="box-sizing: inherit; vertical-align: inherit;">🤔</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><img alt="Viewpoint | How to understand the homogenized "NFT"?" loading="lazy" src="https://web.archive.org/web/20210411190959im_/https://img.chainnews.com/material/images/cf5df1ebaa49fbba615fa5772dc22255.jpg-article" style="border: 0px; box-sizing: inherit; display: block; height: auto; margin: 1rem auto; max-width: 100%;" /><em style="box-sizing: inherit; color: #737373; display: inline-block; font-size: 0.7rem; text-align: center; width: 688px;"><span style="box-sizing: inherit; vertical-align: inherit;">RAC's "BOY" album physical tape</span></em></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">Then look at the token $SOCKS of the limited edition socks Unisocks. </span><span style="box-sizing: inherit; vertical-align: inherit;">There are 500 $SOCKS tokens in total. </span><span style="box-sizing: inherit; vertical-align: inherit;">Each $SOCKS token can be exchanged for a pair of physical socks. </span><span style="box-sizing: inherit; vertical-align: inherit;">The current transaction price of a $SOCKS token is 86,000 USD, the highest in history is 164,000 USD. </span><span style="box-sizing: inherit; vertical-align: inherit;">A pair of socks sold for the price of a Tesla! </span><span style="box-sizing: inherit; vertical-align: inherit;">Mike Demarais claims to be the $SOCKS Socks Party.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">My opinion on Unisocks is: in the 19th and early 20th centuries, the Faberge egg sculpture was once a rare artwork loved by the Russian royal family, with only 69 pieces in the world. </span><span style="box-sizing: inherit; vertical-align: inherit;">In view of the fanatical pursuit of meme in the cryptocurrency world, Unisocks can be called a rare artwork loved by the cryptocurrency community in the 21st century. </span><span style="box-sizing: inherit; vertical-align: inherit;">In other words, Unisocks is the Faberge egg sculpture in the world of cryptocurrency.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><img alt="Viewpoint | How to understand the homogenized "NFT"?" loading="lazy" src="https://web.archive.org/web/20210411190959im_/https://img.chainnews.com/material/images/18e717cd30e3ce9269b469745b033633.jpg-article" style="border: 0px; box-sizing: inherit; display: block; height: auto; margin: 1rem auto; max-width: 100%;" /></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">You want to say that it is a "NFT" token, right? </span><span style="box-sizing: inherit; vertical-align: inherit;">However, SOCKS tokens also use the homogenized token standard ERC 20 (rather than the non-homogeneous token standard). </span><span style="box-sizing: inherit; vertical-align: inherit;">🤔</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">Let's take a look at "Limited Edition NFT". </span><span style="box-sizing: inherit; vertical-align: inherit;">For example, NBA star Damian Lillard's wonderful slam dunk moment NFT. </span><span style="box-sizing: inherit; vertical-align: inherit;">There are 6 versions of this NFT, and each version may have a unique serial number, but the serial number is not very important, and it does not even appear on the graphical user interface. </span><span style="box-sizing: inherit; vertical-align: inherit;">Each of these NFTs can be exchanged for the other, and they are interchangeable. </span><span style="box-sizing: inherit; vertical-align: inherit;">Hey, this also belongs to homogeneity.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">You think again about the ERC1155 token standard. </span><span style="box-sizing: inherit; vertical-align: inherit;">If you only mint one token, it is non-homogeneous because there is only one. </span><span style="box-sizing: inherit; vertical-align: inherit;">However, if you mint a second token, it immediately becomes homogenized.</span></span></p><h3 id="_3" style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 22px; line-height: 1.5; margin-bottom: 1.2rem; margin-top: 0.4rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">Looking for a solution</span></h3><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">So, are TAPE tokens and SOCKS tokens NFT? </span><span style="box-sizing: inherit; vertical-align: inherit;">[0] How should we view "Limited Edition NFT" and ERC1155? </span><span style="box-sizing: inherit; vertical-align: inherit;">There seems to be some contradiction in this.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">I have a way, inspired by the previous "blockchain" concept. </span><span style="box-sizing: inherit; vertical-align: inherit;">From 2014 to 2015, with the rise of the concept of "blockchain", many people began to argue about what kind of system can be defined as a "blockchain". </span><span style="box-sizing: inherit; vertical-align: inherit;">The Bitcoin Church of God says that "only Bitcoin is a blockchain". </span><span style="box-sizing: inherit; vertical-align: inherit;">Others have given a broad definition, such as "a chain consisting of many blocks (block N stores the hash value of block N-1)" or "a replicable database that is not controlled by anyone (using BFT) , PoW or PoS and other consensus protocols)” [1].</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">These controversies did not reach the final result, but disappeared as the "blockchain" was regarded as a field. </span><span style="box-sizing: inherit; vertical-align: inherit;">The definition of blockchain is formed! </span><span style="box-sizing: inherit; vertical-align: inherit;">Without a strong boost, it was just formed.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">Now "blockchain" has two meanings:</span></p><ol style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; list-style-image: initial; list-style-position: inside; margin: 1.6rem 0px 1.6rem 1.6rem; padding: 0px; text-align: justify;"><li style="box-sizing: inherit; margin-top: 0.4rem;"><p style="box-sizing: inherit; display: inline; hyphens: auto; margin: 0px 0px 1.6rem;"><span style="box-sizing: inherit; font-weight: bolder;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">From a technical perspective</span></span></span><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;"> , the blockchain is a database-like tool composed of a series of blocks, which can be replicated.</span></span></p></li><li style="box-sizing: inherit; margin-top: 0.4rem;"><p style="box-sizing: inherit; display: inline; hyphens: auto; margin: 0px 0px 1.6rem;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">The </span></span><span style="box-sizing: inherit; font-weight: bolder;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">field</span></span></span><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;"> or sport where </span><span style="box-sizing: inherit; vertical-align: inherit;">the technology is applied </span></span><span style="box-sizing: inherit; font-weight: bolder;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">.</span></span></span></p></li></ol><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">The recognition of (2) has eased people's debates, and has a great empowering significance, and has spawned many new ideas about (1).</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">"AI" is the same. </span><span style="box-sizing: inherit; vertical-align: inherit;">In the past, there were fierce debates among technology fans (including myself) about the definition of “AI”. </span><span style="box-sizing: inherit; vertical-align: inherit;">However, with the development and growth of the AI field, AI also has two meanings [2]: one refers to the </span></span><span style="box-sizing: inherit; font-weight: bolder;">technical definition</span><span style="box-sizing: inherit; vertical-align: inherit;"> (controversial!) and the other refers to the </span><span style="box-sizing: inherit; font-weight: bolder;">field</span><span style="box-sizing: inherit; vertical-align: inherit;"> .</span></p><h3 id="_4" style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 22px; line-height: 1.5; margin-bottom: 1.2rem; margin-top: 0.4rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">A gentle solution</span></h3><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">"Blockchain" and "AI" have both technical definitions and domain definitions. </span><span style="box-sizing: inherit; vertical-align: inherit;">"NFT" can do the same! </span><span style="box-sizing: inherit; vertical-align: inherit;">In addition to the technical definition, "NFT" can also refer to the sub-fields of the blockchain. </span><span style="box-sizing: inherit; vertical-align: inherit;">After research, we found that NFT represents two sub-fields: one refers to the creative part; the other refers to the non-homogeneous part. </span><span style="box-sizing: inherit; vertical-align: inherit;">We put these three definitions together:</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><img alt="Viewpoint | How to understand the homogenized "NFT"?" loading="lazy" src="https://web.archive.org/web/20210411190959im_/https://img.chainnews.com/material/images/b0ac44ea8e56e19ad5b2175fe665beab.jpg-article" style="border: 0px; box-sizing: inherit; display: block; height: auto; margin: 1rem auto; max-width: 100%;" /><em style="box-sizing: inherit; color: #737373; display: inline-block; font-size: 0.7rem; text-align: center; width: 688px;"><span style="box-sizing: inherit; vertical-align: inherit;">The triple definition of NFT</span></em></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">Let us elaborate on these three definitions.</span></p><h4 id="nft" style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 20px; line-height: 1.5; margin-bottom: 1.2rem; margin-top: 0.4rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">NFT Definition 1: The technical standard used to create a unique token</span></h4><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">The only token standard is only used to create non-fungible tokens. </span><span style="box-sizing: inherit; vertical-align: inherit;">ERC721 is the most widely known example. </span><span style="box-sizing: inherit; vertical-align: inherit;">This definition is not limited to </span></span><span class="project-highlight" id="project-ethereum" style="box-sizing: inherit; cursor: pointer; font-weight: 700; margin: 0px 0.1em; position: relative;" tabindex="0"><span style="border-bottom: 0.05rem solid rgb(239, 239, 239); box-sizing: inherit; padding-bottom: 0.1rem;"><span style="box-sizing: inherit; vertical-align: inherit;">Ethernet Square</span></span></span><span style="box-sizing: inherit; vertical-align: inherit;"> token on the standard, the standard is also applicable to the token on the token or other bit block chain.</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">Please note that I deliberately did not use the term "non-homogenization" because it would cause confusion.</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">ERC1155 also meets this definition, at least for those unique ERC1155 tokens.</span></p><h4 id="nft_1" style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 20px; line-height: 1.5; margin-bottom: 1.2rem; margin-top: 0.4rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">NFT Definition 2: The creative subfield of blockchain</span></h4><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">This field includes all digital art, physical art, photos, music, etc. on the blockchain. </span><span style="box-sizing: inherit; vertical-align: inherit;">In general, all creative products with intellectual property (IP) belong to this field.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">This means that NFT may adopt the "Unique Token" standard, but it is not necessary to do so. </span><span style="box-sizing: inherit; vertical-align: inherit;">NFT can adopt ERC20 token standard, or any other token standard.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">Next, answer a few core questions:</span></p><ul style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; list-style-image: initial; list-style-position: inside; margin: 1.6rem 0px 1.6rem 1.6rem; padding: 0px; text-align: justify;"><li style="box-sizing: inherit; margin-top: 0.4rem;"><p style="box-sizing: inherit; display: inline; hyphens: auto; margin: 0px 0px 1.6rem;"><span style="box-sizing: inherit; vertical-align: inherit;">The $TAPE token (music) meets the definition.</span></p></li><li style="box-sizing: inherit; margin-top: 0.4rem;"><p style="box-sizing: inherit; display: inline; hyphens: auto; margin: 0px 0px 1.6rem;"><span style="box-sizing: inherit; vertical-align: inherit;">$SOCKS (Entity Art) meets the definition.</span></p></li><li style="box-sizing: inherit; margin-top: 0.4rem;"><p style="box-sizing: inherit; display: inline; hyphens: auto; margin: 0px 0px 1.6rem;"><span style="box-sizing: inherit; vertical-align: inherit;">"Limited Edition NFT" meets the definition.</span></p></li><li style="box-sizing: inherit; margin-top: 0.4rem;"><p style="box-sizing: inherit; display: inline; hyphens: auto; margin: 0px 0px 1.6rem;"><span style="box-sizing: inherit; vertical-align: inherit;">Non-unique ERC1155 tokens also meet the definition.</span></p></li></ul><h4 id="nft_2" style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 20px; line-height: 1.5; margin-bottom: 1.2rem; margin-top: 0.4rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">NFT definition three: the only token standard subfield of the blockchain</span></h4><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; outline: 0px; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">The third definition includes non-creative blockchain applications that use the ERC721 token standard, such as real estate and (Centrifuge) financial supply chains. </span><span style="box-sizing: inherit; vertical-align: inherit;">This definition can also include creative applications that adopt the ERC721 token standard, which partially overlaps with (2), which is okay!</span></span></p>Nischal Lal Shresthahttp://www.blogger.com/profile/05625422095651611201noreply@blogger.com0tag:blogger.com,1999:blog-8831307421570903483.post-68377958446404807872021-11-26T19:43:00.004-08:002021-11-26T19:45:07.227-08:00With the advent of the NFT boom, the crypto industry is constantly unleashing the potential of decentralized autonomous organizations.<p><span style="box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; text-align: justify; vertical-align: inherit;"></span></p><div class="separator" style="clear: both; text-align: center;"><div class="separator" style="clear: both; text-align: center;"><div class="separator" style="clear: both; text-align: center;"><div class="separator" style="clear: both; text-align: center;"><span style="box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; text-align: justify; vertical-align: inherit;"><a href="https://blogger.googleusercontent.com/img/a/AVvXsEhLYRmL23ZEYriXxLXrAjLYwX92LxwRe7tOHYHM9ijMxtVHOhLzvvM52x3CCt305y3lrVFJYK1uxs6iHwQHMgWEceli7k60UXo9oHWKt-5d-p7H2bIkutotexQEps4y9rCv4_CtTtrGa-objwqjAnV9PyTJQ0WllHkTrShe_6wa0WFuu5ZuKUV8oz-G=s1190" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="601" data-original-width="1190" height="324" src="https://blogger.googleusercontent.com/img/a/AVvXsEhLYRmL23ZEYriXxLXrAjLYwX92LxwRe7tOHYHM9ijMxtVHOhLzvvM52x3CCt305y3lrVFJYK1uxs6iHwQHMgWEceli7k60UXo9oHWKt-5d-p7H2bIkutotexQEps4y9rCv4_CtTtrGa-objwqjAnV9PyTJQ0WllHkTrShe_6wa0WFuu5ZuKUV8oz-G=w640-h324" width="640" /></a></span></div><span style="box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; text-align: justify; vertical-align: inherit;"><br /><div class="separator" style="clear: both; text-align: center;"><br /></div></span></div></div></div><p></p><p><span style="box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; text-align: justify; vertical-align: inherit;"><br /></span></p><p><span style="box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; text-align: justify; vertical-align: inherit;">Last month, a group of art collectors encryption auction for $ 525,000 for a period by the rapid rise of digital artists pplpleaser creation of encryption platform Uniswap on the </span><a href="https://web.archive.org/web/20210412064121mp_/https://decrypt.co/63080/an-ad-for-uniswap-just-sold-for-525000-as-an-nft-heres-why" style="border-bottom: 0.05rem solid rgb(239, 239, 239); box-sizing: inherit; color: #0056ff; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; padding-bottom: 0.1rem; text-align: justify; text-decoration-line: none;" target="_blank"><span style="box-sizing: inherit; vertical-align: inherit;">promotional video</span></a><span style="box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; text-align: justify; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;"> , the world's headlines. </span><span style="box-sizing: inherit; vertical-align: inherit;">This artwork is a combination of today's art and technology media, namely NFT, and the winning funds were donated to charity.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">However, despite a lot of publicity for this acquisition, few media mention the underlying infrastructure that made this acquisition possible: Decentralized Autonomous Organizations or DAOs. </span><span style="box-sizing: inherit; vertical-align: inherit;">Thanks to this revolutionary organization, a completely different team of 30 people consisting of, after they have the intention to win the auction, and now they are able to </span></span><a href="https://web.archive.org/web/20210412064121mp_/https://twitter.com/lay2000lbs/status/1375195529504829443" style="background-color: transparent; border-bottom: 0.05rem solid rgb(239, 239, 239); box-sizing: inherit; color: #0056ff; padding-bottom: 0.1rem; text-decoration-line: none;" target="_blank"><span style="box-sizing: inherit; vertical-align: inherit;">social media</span></a><span style="box-sizing: inherit; vertical-align: inherit;"> to unite under the call to organize funds, and in a very Won the bid in a short time.</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">Essentially, DAO is one of the </span><span class="project-highlight" id="project-ethereum" style="box-sizing: inherit; cursor: pointer; font-weight: 700; margin: 0px 0.1em; position: relative;" tabindex="0"><span style="border-bottom: 0.05rem solid rgb(239, 239, 239); box-sizing: inherit; padding-bottom: 0.1rem;"><span style="box-sizing: inherit; vertical-align: inherit;">Ethernet Square</span></span></span><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;"> on, organized by a group of intelligent contract execution rules. </span><span style="box-sizing: inherit; vertical-align: inherit;">Historically, in the crypto world, they have been used by large and small groups to manage protocol development, raise funds, or complete various other tasks.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">It turns out that DAO's non-hierarchical structure is particularly popular in collaborative asset management. </span><span style="box-sizing: inherit; vertical-align: inherit;">And now, with the help of the NFT boom, coupled with the legality provided by the new law, DAO supporters say they are about to become mainstream.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">Just this week, 54 people met in a Discord room, established a DAO ("BeetsDAO"), and raised 300 ETH (over $500,000) at an OpenSea auction to </span><a href="https://web.archive.org/web/20210412064121mp_/https://decrypt.co/63528/euler-beats-enigma-nft-auction-price-boom" style="background-color: transparent; border-bottom: 0.05rem solid rgb(239, 239, 239); box-sizing: inherit; color: #0056ff; padding-bottom: 0.1rem; text-decoration-line: none;" target="_blank"><span style="box-sizing: inherit; vertical-align: inherit;">purchase 4 EulerBeats NFTs</span></a><span style="box-sizing: inherit; vertical-align: inherit;"> .</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">José Nuno Sousa Pinto, chief legal officer </span><span style="box-sizing: inherit; vertical-align: inherit;">of </span></span><a href="https://web.archive.org/web/20210412064121mp_/https://aragon.org/" style="background-color: transparent; border-bottom: 0.05rem solid rgb(239, 239, 239); box-sizing: inherit; color: #0056ff; padding-bottom: 0.1rem; text-decoration-line: none;" target="_blank"><span class="project-highlight" id="project-aragon" style="box-sizing: inherit; cursor: pointer; font-weight: 700; margin: 0px 0.1em; position: relative;" tabindex="0"><span style="border-bottom: 0.05rem solid rgb(239, 239, 239); box-sizing: inherit; padding-bottom: 0.1rem;"><span style="box-sizing: inherit; vertical-align: inherit;">Aragon</span></span></span></a><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;"> , </span><span style="box-sizing: inherit; vertical-align: inherit;">one of the first DAO creation platforms, </span><span style="box-sizing: inherit; vertical-align: inherit;">told Decrypt: "DAO is the perfect tool to manage these tokenized assets, such as this new trend-NFT."</span></span></p><h3 id="dao" style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 22px; line-height: 1.5; margin-bottom: 1.2rem; margin-top: 0.4rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">Parsing DAO</span></h3><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">In an interview with Decrypt, Zheng He and others said that the rise of distributed Web3.0 (also known as the Internet of Value) is giving birth to a new type of organizational structure. </span><span style="box-sizing: inherit; vertical-align: inherit;">This structure revolves around a decentralized application (dapp) and a community managed by its members, all of whom have decision-making power.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><img alt="We can call it DAO: How does the trend of decentralized autonomous organizations change the field of venture capital?" loading="lazy" src="https://web.archive.org/web/20210412064121im_/https://img.chainnews.com/material/images/2b84450e114f5f2fbdded5e7d787a1b5_q6ZAGBR.png-article" style="border: 0px; box-sizing: inherit; display: block; height: auto; margin: 1rem auto; max-width: 100%;" /><em style="box-sizing: inherit; color: #737373; display: inline-block; font-size: 0.7rem; text-align: center; width: 688px;"><span style="box-sizing: inherit; vertical-align: inherit;">Chart / data from </span><span class="project-highlight" id="project-deepdao" style="box-sizing: inherit; cursor: pointer; font-weight: 700; margin: 0px 0.1em; position: relative;" tabindex="0"><span style="border-bottom: 0.05rem solid rgb(239, 239, 239); box-sizing: inherit; padding-bottom: 0.1rem;"><span style="box-sizing: inherit; vertical-align: inherit;">DeepDAO</span></span></span><span style="box-sizing: inherit; vertical-align: inherit;"> , April 2</span></em></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">Generally speaking, members of DAO use tokens to vote on topics such as fund distribution. </span><span style="box-sizing: inherit; vertical-align: inherit;">In many DAOs, the influence of members' votes will increase based on the increase in their contributions to the project, and the results will be determined according to the degree of participation and the voting preferences of coin holders.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">As for the autonomous part, the DAO can be regarded as operating like a machine, and the work to be performed is determined through a series of pre-written smart contracts.</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">The concept has taken root in the fast-growing Decentralized Finance (DeFi) industry and has become the most popular Lego block in the Ethereum toolbox.</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">Aaron Wright, a professor at Cardoso Law School, told Decrypt: "Just like what we saw in DeFi, all these different systems can talk to each other, and we think the same thing will happen to the organization. "Wright." Wright is </span><span style="box-sizing: inherit; vertical-align: inherit;">the co-founder </span><span style="box-sizing: inherit; vertical-align: inherit;">of the digital contract platform </span></span><a href="https://web.archive.org/web/20210412064121mp_/https://www.openlaw.io/" style="background-color: transparent; border-bottom: 0.05rem solid rgb(239, 239, 239); box-sizing: inherit; color: #0056ff; padding-bottom: 0.1rem; text-decoration-line: none;" target="_blank"><span style="box-sizing: inherit; vertical-align: inherit;">OpenLaw</span></a><span style="box-sizing: inherit; vertical-align: inherit;"> . He predicts that the independent functions that people build for their personal DAO projects will one day be superimposed to build a larger organization that may define Web3.0.</span></p><blockquote style="background: rgb(250, 250, 250); border-bottom-color: rgb(230, 229, 229); border-left: 0.1rem solid rgb(230, 229, 229); border-right-color: rgb(230, 229, 229); border-top-color: rgb(230, 229, 229); box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; margin: 1.6rem 0px; padding: 1.2rem; text-align: justify;"><p style="box-sizing: inherit; hyphens: auto; margin: 0px 0px 1.6rem;"><span style="box-sizing: inherit; vertical-align: inherit;">"Once the Wyoming Act is implemented, it will enable 1 million or even 1 billion DAOs to flourish."</span></p><p style="box-sizing: inherit; hyphens: auto; margin: 0px;"><span style="box-sizing: inherit; vertical-align: inherit;">——Aaron Wright</span></p></blockquote><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">But for critics, the DAO-driven website has caused many legal and corporate governance issues, and also brought the possibility of disaster-this is what happened in 2016, when the first ever DAO (The DAO) almost This led to the demise of the newly developed Ethereum network.</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">The project was large in scale and raised US$150 million for distributed venture funds. It was the most successful crowdfunding campaign at the time. </span><span style="box-sizing: inherit; vertical-align: inherit;">But an undiscovered flaw in the code caused The DAO to fail within a few weeks of its release, and hackers stole </span></span><a href="https://web.archive.org/web/20210412064121mp_/https://www.bloomberg.com/news/terminal/ORH7KI6JTSE9" style="background-color: transparent; border-bottom: 0.05rem solid rgb(239, 239, 239); box-sizing: inherit; color: #0056ff; padding-bottom: 0.1rem; text-decoration-line: none;" target="_blank"><span style="box-sizing: inherit; vertical-align: inherit;">$55 million from</span></a><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;"> the collective fund </span><span style="box-sizing: inherit; vertical-align: inherit;">.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">Controversially, the Ethereum community voted to roll back the blockchain so that no one loses any funds. </span><span style="box-sizing: inherit; vertical-align: inherit;">This decision ensured the future of this fledgling platform, but constant controversy made the development of DAO set back for several years.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">"When the first DAO failed, because of the name The DAO, people thought that all DAOs were inherently bad. Therefore, it actually took several years to make people change their minds," Aragon co-founder Louis · Luis Cuende said in an interview with "Decrypt" magazine last year.</span></p><h3 id="aragon" style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 22px; line-height: 1.5; margin-bottom: 1.2rem; margin-top: 0.4rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">Aragon and thorough and transparent governance</span></h3><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">Although the DAO remained in the shadows after the 2016 collapse, the experiments surrounding them have never really stopped. </span><span style="box-sizing: inherit; vertical-align: inherit;">Projects such as </span><span style="box-sizing: inherit; vertical-align: inherit;">Aragon, </span></span><a href="https://web.archive.org/web/20210412064121mp_/http://daostack.io/" style="background-color: transparent; border-bottom: 0.05rem solid rgb(239, 239, 239); box-sizing: inherit; color: #0056ff; padding-bottom: 0.1rem; text-decoration-line: none;" target="_blank"><span style="box-sizing: inherit; vertical-align: inherit;">DAOstack,</span></a><span style="box-sizing: inherit; vertical-align: inherit;"> and </span><a href="https://web.archive.org/web/20210412064121mp_/https://colony.io/" style="background-color: transparent; border-bottom: 0.05rem solid rgb(239, 239, 239); box-sizing: inherit; color: #0056ff; padding-bottom: 0.1rem; text-decoration-line: none;" target="_blank"><span style="box-sizing: inherit; vertical-align: inherit;">Colony</span></a><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;"> have learned important lessons (and the importance of auditing) from the original DAO. </span><span style="box-sizing: inherit; vertical-align: inherit;">They continue to build and run DAOs for some of the largest DeFi protocols (including Synthetix, Aave, and Compound). </span><span style="box-sizing: inherit; vertical-align: inherit;">After the project value soars, all these projects will delegate more control to users in 2020.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><img alt="We can call it DAO: How does the trend of decentralized autonomous organizations change the field of venture capital?" loading="lazy" src="https://web.archive.org/web/20210412064121im_/https://img.chainnews.com/material/images/8f2cec21d232541e8aa173f8d0895428_TRPcKgJ.png-article" style="border: 0px; box-sizing: inherit; display: block; height: auto; margin: 1rem auto; max-width: 100%;" /><em style="box-sizing: inherit; color: #737373; display: inline-block; font-size: 0.7rem; text-align: center; width: 688px;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">José Nuno Sousa Pinto, Chief Financial Officer of Aragon. </span><span style="box-sizing: inherit; vertical-align: inherit;">Source of data: Aragon</span></span></em></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">Aragon now supports </span><a href="https://web.archive.org/web/20210412064121mp_/https://poweredby.aragon.org/" style="background-color: transparent; border-bottom: 0.05rem solid rgb(239, 239, 239); box-sizing: inherit; color: #0056ff; padding-bottom: 0.1rem; text-decoration-line: none;" target="_blank"><span style="box-sizing: inherit; vertical-align: inherit;">more than 1,600 communities</span></a><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;"> , including DeFi projects Aave and Curve. </span><span style="box-sizing: inherit; vertical-align: inherit;">They use platforms and services to achieve financial transparency, asset management, and agreement governance.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">The community can adjust the DAO and program it according to its own goals. </span><span style="box-sizing: inherit; vertical-align: inherit;">Sussa Pinto explained that the purpose is to make “governance completely transparent, unlike a traditional closed company” by establishing a new jurisdiction and “a set of technical contract rules that regulate the interaction between users”. . </span><span style="box-sizing: inherit; vertical-align: inherit;">Aragon even provides a court to resolve disputes.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">He claims that DAOs are the best way to attract communities with thousands of members, and predicts that mainstream entities such as businesses, charities, and community organizations will soon adopt them. </span><span style="box-sizing: inherit; vertical-align: inherit;">He said: "This is a great technology, it's transparent, fair, honest, and it's open."</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">But not everyone thinks that DAO-based management will be revolutionary.</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">Dragonfly Capital, which has invested in many DeFi projects that use DAO, such as Compound, Maker and Opyn, declared in a report in August that the governance of DAO so far "looks almost the same as traditional corporate governance." They believe , The person with the most tokens is usually the one who gives orders and can control how their community operates.</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">At the same time, the process of managing DAO is also evolving with technological innovation. </span><span style="box-sizing: inherit; vertical-align: inherit;">For example, the Vocdoni protocol acquired by Aragon earlier this year will soon release a digital voting solution that does not require participants to pay expensive fees to vote on the chain, thus encouraging more people to participate.</span></span></p><h3 id="moloch-daos" style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 22px; line-height: 1.5; margin-bottom: 1.2rem; margin-top: 0.4rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">The second adventure of Moloch and DAOs</span></h3><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">Recently, a variety of radical ideas have emerged in the DAO field. </span><span style="box-sizing: inherit; vertical-align: inherit;">But perhaps the most revolutionary is the new wave of DAO focused on venture capital, and the concept of hybrid financing designed with regulators in mind-different from the ICO cryptocurrency wave.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">The purpose of creating MolochDAO is to manage the funding used to fund the development of Ethereum 2.0. Ethereum 2.0 is the network's ongoing scale expansion plan, and it plays an important role in the new wave of risky DAOs. </span><span style="box-sizing: inherit; vertical-align: inherit;">Its developers focused on simple smart contract solutions and clearly designed the program to minimize the possibility of attacks.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">In 2019, developers in the Ethereum community forked its code. </span><span style="box-sizing: inherit; vertical-align: inherit;">Branches are used to modify smart contracts to develop more complex DAOs, such as MetaCartel Ventures and Marketing DAO, which have the ability to distribute and transfer shares and other assets between members. </span><span style="box-sizing: inherit; vertical-align: inherit;">Since then, MetaCartel Ventures, a profitable DAO focused on early investment in Ethereum projects, has raised nearly $24 million from 64 members.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">The spirit behind these initiatives is to foster a healthy venture capital ecosystem, provide easily accessible funding for DAO projects, and help technology flourish. </span><span style="box-sizing: inherit; vertical-align: inherit;">It also provides early investment opportunities for experts who use these cutting-edge technologies.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">Most importantly, MetaCartel and its similar companies provide a fast and effective way to raise funds. Unlike most ICOs in the 2017 era, this method will not conflict with US security laws. </span><span style="box-sizing: inherit; vertical-align: inherit;">For example, MetaCartel Ventures has painstakingly registered as a limited liability company (LLC) in the cryptocurrency-friendly state of Delaware.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">Aaron Wright of OpenLaw stated that in the United States, even without a manager, legal entities can enjoy limited liability and some other benefits, because "limited liability companies are the creation of contracts," while DAO mainly supports The software is operated by smart contracts.</span></p><h3 id="the-lao" style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 22px; line-height: 1.5; margin-bottom: 1.2rem; margin-top: 0.4rem; text-align: justify;"><span class="project-highlight" id="project-the-lao" style="box-sizing: inherit; cursor: pointer; margin: 0px 0.1em; position: relative;" tabindex="0"><span style="border-bottom: 0.05rem solid rgb(239, 239, 239); box-sizing: inherit; padding-bottom: 0.1rem;"><span style="box-sizing: inherit; vertical-align: inherit;">The LAO</span></span></span><span style="box-sizing: inherit; vertical-align: inherit;"> and the law</span></h3><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">The LAO (acronym for Limited Liability Autonomous Organization), launched by OpenLaw in April 2020, is another step towards harmonizing radical encryption solutions with the traditional world. </span><span style="box-sizing: inherit; vertical-align: inherit;">This is a venture capital DAO with additional legal protection, aimed at investors who want to comply with regulations, while getting the next wave of returns from the Ethereum project.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">Like MetaCartel DAO, LAO has adopted Moloch's framework to enable organizations to accept capital instead of just paying. </span><span style="box-sizing: inherit; vertical-align: inherit;">So far, the project has attracted US$25 million in funding. </span><span style="box-sizing: inherit; vertical-align: inherit;">So far, the company has invested about 30% of its funds in 40 projects, including SuperRare, the largest NFT market. </span><span style="box-sizing: inherit; vertical-align: inherit;">Another investment Wright mentioned is aimed at improving privacy protection.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">LAO even has the ability to incubate its own projects. </span><span style="box-sizing: inherit; vertical-align: inherit;">In March of this year, it launched another DAO, this time the target is an institution. </span><span style="box-sizing: inherit; vertical-align: inherit;">It will focus on providing much-needed liquidity for DeFi and blockchain projects.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">Wright noted that many people who built DAOs have learned lessons about security and compliance. </span><span style="box-sizing: inherit; vertical-align: inherit;">The 68 members of LAO (limited to 100) have been reviewed to ensure they comply with relevant KYC and anti-money laundering laws. </span><span style="box-sizing: inherit; vertical-align: inherit;">In the United States, only qualified investors are eligible to join.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">Although LAO seeks to become a model for regulatory compliance, it is not always clear whether other DAOs are also considering it. </span><span style="box-sizing: inherit; vertical-align: inherit;">Wright said this is particularly the case in the United States, where legal minefields abound, especially in relation to token projects that may be considered securities.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">However, he added, "If you have a very flat organization with no hierarchical system, where ownership and decision-making are very participatory, and all information related to the organization is available, I personally strongly advocate that, These benefits should not be seen as guaranteed.</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">Wright also helped the state of Wyoming, which embraced the crypto world, drafted landmark legislation to clarify the status of the DAO. </span><span style="box-sizing: inherit; vertical-align: inherit;">The bill recently passed a key obstacle in the state Senate. </span><span style="box-sizing: inherit; vertical-align: inherit;">Last year, Wyoming also became the first state in the United States to issue licenses for crypto banks, and it has issued licenses to two banks, Kraken and Avanti.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">If passed, the new bill will give Dawes the legal personality of a traditional company currently enjoyed. </span><span style="box-sizing: inherit; vertical-align: inherit;">"It should allow a million-if not a billion-DAO to flourish," Wright said. </span><span style="box-sizing: inherit; vertical-align: inherit;">He explained: "To legally install such a device, a lot of work still needs to be done."</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">In fact, Wyoming is not the first place to consider giving Dawes a legal personality. </span><span style="box-sizing: inherit; vertical-align: inherit;">Malta initiated this process in 2019.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">However, Malta's efforts have been criticized by entrepreneurs. </span><span style="box-sizing: inherit; vertical-align: inherit;">They said that the legislation is too complicated and the managers have taken on too many responsibilities, which is contrary to the spirit of the DAO. </span><span style="box-sizing: inherit; vertical-align: inherit;">But Ma Er is just laying the foundation, and further amendments can give DAO legal personality and reduce managers' responsibilities.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">But not everyone supports this legislation. </span><span style="box-sizing: inherit; vertical-align: inherit;">Preston Byrne, a partner of Anderson Kill Law, warned that it could be usurped by "token peddlers" to justify the sale of junk coins and immature code.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">He called on the state of Wyoming to repeal the bill, claiming that — having tried it as early as 2013 — the concept was unworkable and fraught with danger. </span><span style="box-sizing: inherit; vertical-align: inherit;">In any case, the impact of the Wyoming plan may be limited because the state has a small population, minimal connections to the financial industry, and federal securities laws are supreme in the United States.</span></span></p><h4 id="dao_1" style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 20px; line-height: 1.5; margin-bottom: 1.2rem; margin-top: 0.4rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">"We can DAO it."</span></h4><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">There are certain similarities between DAOs and ICOs used for fundraising or venture capital. </span><span style="box-sizing: inherit; vertical-align: inherit;">If there was no disaster on that early DAO, critics would have established relevant theories, saying that the plan in Ethereum would use DAOs as a fundraising tool very early. </span><span style="box-sizing: inherit; vertical-align: inherit;">Unlike the restricted access DAOs such as the LAO or MetaCartel Ventures, the </span></span><a href="https://web.archive.org/web/20210412064121mp_/https://duckdao.io/" style="background-color: transparent; border-bottom: 0.05rem solid rgb(239, 239, 239); box-sizing: inherit; color: #0056ff; padding-bottom: 0.1rem; text-decoration-line: none;" target="_blank"><span class="project-highlight" id="project-duckdao" style="box-sizing: inherit; cursor: pointer; font-weight: 700; margin: 0px 0.1em; position: relative;" tabindex="0"><span style="border-bottom: 0.05rem solid rgb(239, 239, 239); box-sizing: inherit; padding-bottom: 0.1rem;"><span style="box-sizing: inherit; vertical-align: inherit;">DuckDAO</span></span></span></a><span style="box-sizing: inherit; vertical-align: inherit;"> fundraising platform allows anyone holding tokens to invest in early-stage startup projects, and encourages members to acquire users and conduct marketing for DAO-funded projects. These projects include Bondly, an NFT platform, and Synthetic, a protocol based on encrypted assets.</span></p><blockquote style="background: rgb(250, 250, 250); border-bottom-color: rgb(230, 229, 229); border-left: 0.1rem solid rgb(230, 229, 229); border-right-color: rgb(230, 229, 229); border-top-color: rgb(230, 229, 229); box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; margin: 1.6rem 0px; padding: 1.2rem; text-align: justify;"><p style="box-sizing: inherit; hyphens: auto; margin: 0px 0px 1.6rem;"><span style="box-sizing: inherit; vertical-align: inherit;">"The Web3.0 project needs long-term support."</span></p><p style="box-sizing: inherit; hyphens: auto; margin: 0px;"><span style="box-sizing: inherit; vertical-align: inherit;">——Toshi Kamei</span></p></blockquote><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"></span><a href="https://web.archive.org/web/20210412064121mp_/https://daomaker.com/" style="background-color: transparent; border-bottom: 0.05rem solid rgb(239, 239, 239); box-sizing: inherit; color: #0056ff; padding-bottom: 0.1rem; text-decoration-line: none;" target="_blank"><span class="project-highlight" id="project-dao-maker" style="box-sizing: inherit; cursor: pointer; font-weight: 700; margin: 0px 0.1em; position: relative;" tabindex="0"><span style="border-bottom: 0.05rem solid rgb(239, 239, 239); box-sizing: inherit; padding-bottom: 0.1rem;"><span style="box-sizing: inherit; vertical-align: inherit;">DAOs</span></span></span></a><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;"> such as DuckDAO and </span><a href="https://web.archive.org/web/20210412064121mp_/https://daomaker.com/" style="background-color: transparent; border-bottom: 0.05rem solid rgb(239, 239, 239); box-sizing: inherit; color: #0056ff; padding-bottom: 0.1rem; text-decoration-line: none;" target="_blank"><span class="project-highlight" id="project-dao-maker" style="box-sizing: inherit; cursor: pointer; font-weight: 700; margin: 0px 0.1em; position: relative;" tabindex="0"><span style="border-bottom: 0.05rem solid rgb(239, 239, 239); box-sizing: inherit; padding-bottom: 0.1rem;"><span style="box-sizing: inherit; vertical-align: inherit;">DAO Maker</span></span></span></a><span style="box-sizing: inherit; vertical-align: inherit;"> are also operating public token sales. </span><span style="box-sizing: inherit; vertical-align: inherit;">DAO Maker's initial fundraising, Refundable Holder Issuance (rSHO) was approved by the Maltese regulator in February. </span><span style="box-sizing: inherit; vertical-align: inherit;">The project will use on-chain analysis and check the wallet addresses of participants to identify which participants are more likely to become long-term token holders, that is, valuable community members. </span><span style="box-sizing: inherit; vertical-align: inherit;">VAIOT is a startup company that develops AI-enabled services for companies. They chose rSHO as their fund-raising method because it complies with the laws of Malta.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">Christoph Surgowt, CEO of VAIOT, told Decrypt: “Since we are the first regulated project in Malta, we have in fact cleared the way for other projects. It has also proven that the project can simultaneously adopt a strict regulatory system, innovation and customer orientation. The center’s sales process benefited from all three.”</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">In Asia, people's enthusiasm for DeFi and DAOs is also growing. </span><span style="box-sizing: inherit; vertical-align: inherit;">Fracton Ventures is a Japanese start-up project that hopes to replicate the success of MetaCartel and the LAO. </span><span style="box-sizing: inherit; vertical-align: inherit;">The founders of the project, Toshi Kamei, Naoki Akazawa, and Yudai Suzuki, are working to consolidate the DAO ecosystem by establishing a connection between Web3.0 start-up projects and Asian investment institutions, so that they can enter the vibrant DeFi world. </span><span style="box-sizing: inherit; vertical-align: inherit;">"We can DAO it" is their tagline. </span><span style="box-sizing: inherit; vertical-align: inherit;">A chart produced by Fracton describes the progress of a decentralized project like this:</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><img alt="We can call it DAO: How does the trend of decentralized autonomous organizations change the field of venture capital?" loading="lazy" src="https://web.archive.org/web/20210412064121im_/https://img.chainnews.com/material/images/f11ed524ea405fd0a24bdaa2d17a83c5_fIruUZ9.png-article" style="border: 0px; box-sizing: inherit; display: block; height: auto; margin: 1rem auto; max-width: 100%;" /><em style="box-sizing: inherit; color: #737373; display: inline-block; font-size: 0.7rem; text-align: center; width: 688px;"><span style="box-sizing: inherit; vertical-align: inherit;">Fracton plans to allow institutional investors to participate in the venture capital DAO. Image source: Fracton</span></em></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">Suzuki said that almost all of the current DAO investments are in North America. </span><span style="box-sizing: inherit; vertical-align: inherit;">Many people in Asia are very interested in this, but it is not so simple for people to enter the network formed in the United States. One of the reasons is the language barrier.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">The three founders of Fracton are actually aware of the long-term financing problems faced by early-stage startup projects. </span><span style="box-sizing: inherit; vertical-align: inherit;">Kamei worked as a producer and investor in Mistletoe, a social impact fund led by the brother of Japan's Softbank founder Masayoshi Son. </span><span style="box-sizing: inherit; vertical-align: inherit;">He believes that the financing goals of venture capital are often inconsistent. </span><span style="box-sizing: inherit; vertical-align: inherit;">He said: "Web3.0 projects require long-term support. We think an investment model focused on Web3.0 will be more suitable for this field."</span></span></p><h3 id="dao_2" style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 22px; line-height: 1.5; margin-bottom: 1.2rem; margin-top: 0.4rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">One DAO, multiple scenes</span></h3><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">Today, DAOs are not just exclusive to Ethereum. </span><span style="box-sizing: inherit; vertical-align: inherit;">Dora Factory belongs to the Polkadot ecology, and it is using Polkadot's own tool suite to build a public DAOs infrastructure. </span><span style="box-sizing: inherit; vertical-align: inherit;">In February, they completed a </span></span><a href="https://web.archive.org/web/20210412064121mp_/https://cointelegraph.com/press-releases/dao-as-a-service-infrastructure-dora-factory-closed-seed-funding" style="background-color: transparent; border-bottom: 0.05rem solid rgb(239, 239, 239); box-sizing: inherit; color: #0056ff; padding-bottom: 0.1rem; text-decoration-line: none;" target="_blank"><span style="box-sizing: inherit; vertical-align: inherit;">first round of financing</span></a><span style="box-sizing: inherit; vertical-align: inherit;"> .</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">But as the NFT boom (or bubble) reaches its peak, the DAOs formed around NFTs continue to attract attention.</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">PleasrDAO DAO is dedicated to winning artwork Pplpleasr formed, now they are also bought three of the artist's work, and </span><a href="https://web.archive.org/web/20210412064121mp_/https://newsletter.banklesshq.com/p/xykan-ethereum-story" style="background-color: transparent; border-bottom: 0.05rem solid rgb(239, 239, 239); box-sizing: inherit; color: #0056ff; padding-bottom: 0.1rem; text-decoration-line: none;" target="_blank"><span style="box-sizing: inherit; vertical-align: inherit;">plans to continue to invest</span></a><span style="box-sizing: inherit; vertical-align: inherit;"> .</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">But this is not the first DAO to focus on the field of NFTs. </span><a href="https://web.archive.org/web/20210412064121mp_/https://flamingodao.xyz/" style="background-color: transparent; border-bottom: 0.05rem solid rgb(239, 239, 239); box-sizing: inherit; color: #0056ff; padding-bottom: 0.1rem; text-decoration-line: none;" target="_blank"><span style="box-sizing: inherit; vertical-align: inherit;">FlamingoDAO</span></a><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;"> is a LAO project established in October 2020. </span><span style="box-sizing: inherit; vertical-align: inherit;">According to Wright information, FlamingoDAO has a joint fund of 10 million US dollars, 40 members, and has obtained about 6-700 NFTs, including NBA Top Shot cards, and a rare CryptoPunk.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">For other types of organizations, we cannot think of why they cannot be DAOs. </span><span style="box-sizing: inherit; vertical-align: inherit;">There is now a writer DAO mirror.xyz, and it is getting more and more attention (we have already followed it, friends). </span><span style="box-sizing: inherit; vertical-align: inherit;">It holds a regular $WRITE contest, every week there are writers who want to join Mirror, and the community will vote for writers who want to see on the platform.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><img alt="We can call it DAO: How does the trend of decentralized autonomous organizations change the field of venture capital?" loading="lazy" src="https://web.archive.org/web/20210412064121im_/https://img.chainnews.com/material/images/1cd7b376ba6159fc93abf49c1d242605_pKu0SuG.png-article" style="border: 0px; box-sizing: inherit; display: block; height: auto; margin: 1rem auto; max-width: 100%;" /><em style="box-sizing: inherit; color: #737373; display: inline-block; font-size: 0.7rem; text-align: center; width: 688px;"><span style="box-sizing: inherit; vertical-align: inherit;">Different types of projects will join LAOs and DAOs. Image source: OpenLaw</span></em></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">Meanwhile, Decrypt recently created his own NFTs and </span><a href="https://web.archive.org/web/20210412064121mp_/https://decrypt.co/61749/decrypt-launches-its-first-token-season-with-filecoin" style="background-color: transparent; border-bottom: 0.05rem solid rgb(239, 239, 239); box-sizing: inherit; color: #0056ff; padding-bottom: 0.1rem; text-decoration-line: none;" target="_blank"><span style="box-sizing: inherit; vertical-align: inherit;">release tokens</span></a><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;"> to reward readers to participate. </span><span style="box-sizing: inherit; vertical-align: inherit;">According to Sousa Pinto, DAO is an effective way to increase reader participation, and Decrypt can also be deployed to write daily. </span><span style="box-sizing: inherit; vertical-align: inherit;">He emphasized: "Voting will be the essence of participation" and "Voting is a new form of "like".</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">Sousa Pinto believes that after asset tokenization, the next wave will be company tokenization. </span><span style="box-sizing: inherit; vertical-align: inherit;">But ordinary stocks will not be used. </span><span style="box-sizing: inherit; vertical-align: inherit;">It will be replaced by tokens, which can be traded in different markets, which is equivalent to another form of participation or equity in the company. </span><span style="box-sizing: inherit; vertical-align: inherit;">He said: "This is very important because it motivates people to participate."</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">At the time of renewed interest, the developers brought DAO-focused tools, such as a decentralized automatic salary management system, to act as the human resources department and ensure that each contributor’s efforts are rewarded.</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">But not everyone is passionate about it. </span><span style="box-sizing: inherit; vertical-align: inherit;">MIT Technology Review </span></span><a href="https://web.archive.org/web/20210412064121mp_/https://www.technologyreview.com/2016/05/17/160160/the-autonomous-corporation-called-the-dao-is-not-a-good-way-to-spend-130-million/" style="background-color: transparent; border-bottom: 0.05rem solid rgb(239, 239, 239); box-sizing: inherit; color: #0056ff; padding-bottom: 0.1rem; text-decoration-line: none;" target="_blank"><span style="box-sizing: inherit; vertical-align: inherit;">believes</span></a><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;"> that important financial decisions entrusted to the idea of a people is poor, and it may not pay off. </span><span style="box-sizing: inherit; vertical-align: inherit;">It believes that if DAO-related projects are to be successful at any scale, changes need to be made.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">At the same time, scale is also a problem for Ethereum, which includes high gas fees, which seriously hinders the development of DAO. </span><span style="box-sizing: inherit; vertical-align: inherit;">To counteract this problem, </span><span style="box-sizing: inherit; vertical-align: inherit;">projects </span><span style="box-sizing: inherit; vertical-align: inherit;">such as </span></span><span class="project-highlight" id="project-metis" style="box-sizing: inherit; cursor: pointer; font-weight: 700; margin: 0px 0.1em; position: relative;" tabindex="0"><span style="border-bottom: 0.05rem solid rgb(239, 239, 239); box-sizing: inherit; padding-bottom: 0.1rem;"><span style="box-sizing: inherit; vertical-align: inherit;">Metis</span></span></span><span style="box-sizing: inherit; vertical-align: inherit;"> are building a solution called Layer 2, while others advocate that on-chain transactions should be retained for necessary transactions, such as asset transfers and security-related decisions.</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><img alt="We can call it DAO: How does the trend of decentralized autonomous organizations change the field of venture capital?" loading="lazy" src="https://web.archive.org/web/20210412064121im_/https://img.chainnews.com/material/images/52ced04044ca5cb5a32ac435c2632faf_l4dTPFR.png-article" style="border: 0px; box-sizing: inherit; display: block; height: auto; margin: 1rem auto; max-width: 100%;" /><em style="box-sizing: inherit; color: #737373; display: inline-block; font-size: 0.7rem; text-align: center; width: 688px;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">DAOs are still relatively small in terms of the scale of assets under management. </span><span style="box-sizing: inherit; vertical-align: inherit;">Image source: DeepDAO</span></span></em></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">From a broader perspective, DAOs can overcome the inherent shortcomings of many traditional companies, such as governance issues. </span><span style="box-sizing: inherit; vertical-align: inherit;">However, DAOs still have many problems to be solved, such as simplifying voting procedures and reducing the overall complexity of the governance mechanism.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; outline: 0px; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">Finally, DAO is only an emerging niche market in the broad crypto world, and of course in the financial sector. According to the data of the analysis and tracking tool DeepDAO, the assets under management of the top DAOs are only 931 million US dollars. </span><span style="box-sizing: inherit; vertical-align: inherit;">But they quickly attracted many new "converters" and more than 65,000 PEs were called DAO members. </span><span style="box-sizing: inherit; vertical-align: inherit;">Whether you are interested in a part of the much-watched NFT, a Decrypt article or a place in a huge virtual meeting room, their team is expanding at a rate of 400 people per week.</span></span></p>Nischal Lal Shresthahttp://www.blogger.com/profile/05625422095651611201noreply@blogger.com0tag:blogger.com,1999:blog-8831307421570903483.post-49109028688006786162021-11-26T19:39:00.002-08:002021-11-26T19:39:10.741-08:00Why is NFT rather than DeFi bringing Ethereum into the mainstream?<p><span style="box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; text-align: justify; vertical-align: inherit;"></span></p><div class="separator" style="clear: both; text-align: center;"><span style="box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; text-align: justify; vertical-align: inherit;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiciSKK73HevSXfa94rghERy74TLKhv27hWAhYiiVU9ZxyZj-Wtkom7SwMTRa15FS4Zx0edqOFX87zmzkPjdwNwceFgHUXGFC6zef4Euzm_GImkHPVSeyT6EPh5x4Gs3JIVM2B0w_4uIQs/" style="margin-left: 1em; margin-right: 1em;"><img alt="" data-original-height="908" data-original-width="908" height="240" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiciSKK73HevSXfa94rghERy74TLKhv27hWAhYiiVU9ZxyZj-Wtkom7SwMTRa15FS4Zx0edqOFX87zmzkPjdwNwceFgHUXGFC6zef4Euzm_GImkHPVSeyT6EPh5x4Gs3JIVM2B0w_4uIQs/" width="240" /></a></span></div><span style="box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; text-align: justify; vertical-align: inherit;"><br /><br /></span><p></p><p><span style="box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; text-align: justify; vertical-align: inherit;">You can hardly read about NFT on the Internet. </span><span style="box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; font-weight: bolder; text-align: justify;">NFTs represent the provable ownership of scarce digital art, and they are taking the world by storm. </span><span style="box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; text-align: justify; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">Celebrities are casting their own NFTs, friends are promoting their projects around, and new platforms are announced every day. </span><span style="box-sizing: inherit; vertical-align: inherit;">Some of my friends had no interest in encryption technology, but now they ask me: "Hey, what do you think of NFT?" They have never asked DeFi once. </span><span style="box-sizing: inherit; vertical-align: inherit;">Why is it easier for ordinary users to enter the world of NFT than DeFi?</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">These are my thoughts.</span></p><h3 id="_1" style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 22px; line-height: 1.5; margin-bottom: 1.2rem; margin-top: 0.4rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">First of all, what is traditional finance?</span></h3><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; font-weight: bolder;">We ordinary people have no idea, and we owe a lot of traditional debts.</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">John Oliver called Bitcoin and cryptocurrency: "Everything you don't understand about money is combined with everything you don't understand about computers." But we all appreciate art. </span><span style="box-sizing: inherit; font-weight: bolder;">NFT art provides a lot of things-artists can monetize their works, big crypto players reward new artists to join the field, and create new forms of art itself. </span><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">Beeple's $69 million marketing gimmick proves that NFT is squeezing the traditional art field. </span><span style="box-sizing: inherit; vertical-align: inherit;">The most recent is Tom Brady's Autograph, a platform designed to host digital collections in the fields of sports, entertainment, fashion and popular culture.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">Andreas Freund’s words came to mind, “Although DeFi is very exciting, many of his use cases are restricted under the regulatory framework and are not suitable for the rapid and large-scale application of blockchain.” Freund said in his rich article The foresight article predicts that the brand economy will become a catalyst for peripheral users to join the blockchain field. </span><span style="box-sizing: inherit; vertical-align: inherit;">He is not far away. </span><span style="box-sizing: inherit; vertical-align: inherit;">Tools like Collab.Land can easily emerge tokenized communities, which are more similar to subreddits and IRC networks, which are deeply niche. In contrast, you can see them on Facebook or Twitter.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">NFT provides an easy entry point, even if transaction fees are high. </span><span style="box-sizing: inherit; vertical-align: inherit;">For the wider society, DeFi is still too complicated. </span><span style="box-sizing: inherit; vertical-align: inherit;">The whole world is watching the competition between the army of retail investors and the traditional financial market. </span><span style="box-sizing: inherit; vertical-align: inherit;">However, most of us are watching, insisting on holding our own cryptocurrency, and cheering for people at the same time. </span><span style="box-sizing: inherit; vertical-align: inherit;">Artistic NFTs are more attractive than DeFi for many reasons, including the simple fact that ease of use is always more important than how novel financial products are.</span></span></p><h3 id="ethereum-defi" style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 22px; line-height: 1.5; margin-bottom: 1.2rem; margin-top: 0.4rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">Only about one percent of Ethereum addresses have interacted with the DeFi protocol</span></h3><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><img alt="Opinion | Why did NFT rather than DeFi bring Ethereum into the mainstream?" loading="lazy" src="https://web.archive.org/web/20210415033920im_/https://img.chainnews.com/material/images/dc9bd988bf57ad8dda1089d0652f41cb.jpg-article" style="border: 0px; box-sizing: inherit; display: block; height: auto; margin: 1rem auto; max-width: 100%;" /></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">The number of Ethereum addresses and DeFi protocol interactions, from the protocol of Dune Analytics.</span></p><h3 id="nft" style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 22px; line-height: 1.5; margin-bottom: 1.2rem; margin-top: 0.4rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">NFT brings miracles and excitement back to the Internet</span></h3><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">I went looking to buy my first NFT. </span><span style="box-sizing: inherit; vertical-align: inherit;">I don't know where to start. I went to Twitter and logged in to @gmoney.eth's post. He explained why he bought a CryptoPunk for 140ETH. </span><span style="box-sizing: inherit; vertical-align: inherit;">For Gmoney, adding the outstanding Crypto Punk to his collection is equivalent to adding Rolex to the real-world watch collection. </span><span style="box-sizing: inherit; vertical-align: inherit;">what is interesting. </span><span style="box-sizing: inherit; vertical-align: inherit;">A few minutes later, I witnessed a transaction on FlamingoDAO-they paid $176,000 (140 ETH) for a super rare Crypto Punk. </span><span style="box-sizing: inherit; vertical-align: inherit;">In a way, it brought weird things back to the Internet. </span><span style="box-sizing: inherit; vertical-align: inherit;">However, as far as I know, there is nothing weird about yield farming.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">When browsing NFT, I can't help feeling that the Internet is more like a home. </span><span style="box-sizing: inherit; vertical-align: inherit;">For those of us who grew up on the Internet, in forums and IRC, we miss the wild, weird, ASCII, and nonsensical nature of the Internet. </span><span style="box-sizing: inherit; vertical-align: inherit;">Those online worlds that we and our brothers and sisters compete to enter. </span><span style="box-sizing: inherit; vertical-align: inherit;">For a long time, the environment as we know it has long ceased to exist. </span><span style="box-sizing: inherit; vertical-align: inherit;">From the moment we can put our mobile phone in our pocket, advertising is everywhere </span></span><span style="box-sizing: inherit; font-weight: bolder;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">. </span><span style="box-sizing: inherit; vertical-align: inherit;">Social media sites sell our attention to the highest bidder, and influencers sell us almost irrelevant products. </span></span></span><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">The good things are gone forever. </span><span style="box-sizing: inherit; vertical-align: inherit;">In recent years, I have lost my love for the Internet, which is why I joined ConsenSys to try to revive the p2p network experience. </span><span style="box-sizing: inherit; vertical-align: inherit;">I wandered around the subreddits in my pocket and tried to read books to calm the pain.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; font-weight: bolder;">However, the craze of NFT has brought the Internet back into excitement. </span><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">Someone sold a white png for about 5ETH. </span><span style="box-sizing: inherit; vertical-align: inherit;">WWE launched Undertaker NFT. </span><span style="box-sizing: inherit; vertical-align: inherit;">It's like all childhood silly things mixed with current popular culture and coinage on the blockchain. </span><span style="box-sizing: inherit; vertical-align: inherit;">I joined a tokenized community where about 2000 members talked about art, fashion, music, MEME and culture. </span><span style="box-sizing: inherit; vertical-align: inherit;">I found a comment that dates back to mid-December 2020. A musician expressed his desire for a music-based NFT platform. </span><span style="box-sizing: inherit; vertical-align: inherit;">Someone replied: "I am trying to do something unique to you." The same account later posted: "Catalog is under test. Check it out." In March. </span><span style="box-sizing: inherit; vertical-align: inherit;">Catalog is a platform for collecting, trading and listening to real works based on the Zora protocol. </span><span style="box-sizing: inherit; vertical-align: inherit;">The artist can get 100% of the income at the first sale, and at the same time, a certain percentage of the fee will be set in the early stage, and it will be obtained every time it is resold. </span><span style="box-sizing: inherit; vertical-align: inherit;">The Zora agreement was established in May 2020, establishing a universal and permanent media market in ERC-721. </span><span style="box-sizing: inherit; vertical-align: inherit;">I saw in real time the results of the hard work and unremitting iterations invested in the Ethereum field over the years.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">It's just riveting enough.</span></p><h3 id="_2" style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 22px; line-height: 1.5; margin-bottom: 1.2rem; margin-top: 0.4rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">A paradise for crypto marketers</span></h3><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">The dream of crypto marketers is being realized. </span><span style="box-sizing: inherit; vertical-align: inherit;">Ethereum-based applications call domain expertise outside of the encryption field to create fashionable applications while focusing on a wide range of pro-civil use cases. </span><span style="box-sizing: inherit; vertical-align: inherit;">We have been praying for the arrival of this day, which can promote exquisite products with the blockchain running in the background. </span><span style="box-sizing: inherit; vertical-align: inherit;">Even if the current global search for NFTs is weakening, there is still a huge opportunity to extend NFTs beyond those who are proficient in encryption. </span></span><span style="box-sizing: inherit; font-weight: bolder;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">The art industry is currently the focus of NFT, but other industries are also expected to follow. </span><span style="box-sizing: inherit; vertical-align: inherit;">The game industry is born to create a perfect environment for the next wave of NFT. </span></span></span><span style="box-sizing: inherit; vertical-align: inherit;">Gaming can become one of the most important markets and has already accounted for the largest share of NFT sales.</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">I read that NFT is used to tokenize commercial assets into verifiable invoices and orders. </span><span style="box-sizing: inherit; vertical-align: inherit;">I have thought about how people like me can invest in NFT funds to own land in Decentraland instead of owning land in real life.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><img alt="Opinion | Why did NFT rather than DeFi bring Ethereum into the mainstream?" loading="lazy" src="https://web.archive.org/web/20210415033920im_/https://img.chainnews.com/material/images/6c87dbf5cd63652cf315a748fcd6533c.jpg-article" style="border: 0px; box-sizing: inherit; display: block; height: auto; margin: 1rem auto; max-width: 100%;" /></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">I read about the authenticity verification problem and how Serto's search tool plans to solve this problem. </span><span style="box-sizing: inherit; vertical-align: inherit;">Platforms </span><span style="box-sizing: inherit; vertical-align: inherit;">like </span></span><span class="project-highlight" id="project-foundation" style="box-sizing: inherit; cursor: pointer; font-weight: 700; margin: 0px 0.1em; position: relative;" tabindex="0"><span style="border-bottom: 0.05rem solid rgb(239, 239, 239); box-sizing: inherit; padding-bottom: 0.1rem;"><span style="box-sizing: inherit; vertical-align: inherit;">Foundation</span></span></span><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;"> and Zora are a simple sale, and a friend can get started quickly without reading 15 white papers. </span><span style="box-sizing: inherit; vertical-align: inherit;">I read countless articles, tweets, and verbal abuse surrounding the NFT environment. </span><span style="box-sizing: inherit; vertical-align: inherit;">The handheld NFT Studio came into being and launched a 99% energy-saving NFT side chain.</span></span></p><h3 id="_3" style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 22px; line-height: 1.5; margin-bottom: 1.2rem; margin-top: 0.4rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">User experience-first platform</span></h3><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">I listened to a podcast, the protagonist is Lindsay Howard, the community leader of Foundation. </span><span style="box-sizing: inherit; vertical-align: inherit;">She shared how she has more than ten years of art planning experience, which undoubtedly brings a unique perspective to the application of Foundation.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">Foundation is a highly curated NFT art platform that selects artists through a prudent invitation system.</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">Foundation feels like a digital version of a New York gallery, which is also designed. </span><span style="box-sizing: inherit; vertical-align: inherit;">NFT shopping on Foundation is like going to a 200-year-old family-run Italian handmade gourmet snack shop. </span><span style="box-sizing: inherit; vertical-align: inherit;">In contrast, </span><span style="box-sizing: inherit; vertical-align: inherit;">browsing art works </span><span style="box-sizing: inherit; vertical-align: inherit;">on </span></span><span class="project-highlight" id="project-opensea" style="box-sizing: inherit; cursor: pointer; font-weight: 700; margin: 0px 0.1em; position: relative;" tabindex="0"><span style="border-bottom: 0.05rem solid rgb(239, 239, 239); box-sizing: inherit; padding-bottom: 0.1rem;"><span style="box-sizing: inherit; vertical-align: inherit;">OpenSea</span></span></span><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;"> feels like searching for gold in a large American supermarket. </span><span style="box-sizing: inherit; vertical-align: inherit;">Everything goes so fast. </span><span style="box-sizing: inherit; vertical-align: inherit;">I want to find a way to enter.</span></span></p><h3 id="defi" style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 22px; line-height: 1.5; margin-bottom: 1.2rem; margin-top: 0.4rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">Please don't stop DeFi, we need you</span></h3><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; outline: 0px; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">To the forwards of DeFi: We need you. </span><span style="box-sizing: inherit; vertical-align: inherit;">Please keep iterating. </span><span style="box-sizing: inherit; vertical-align: inherit;">You and us who mint, buy and trade pixel art are part of the Internet Renaissance. </span></span><span style="box-sizing: inherit; font-weight: bolder;">The adoption of any new technology requires a slow and deliberate transition. </span><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">Only 1% of Ethereum addresses interact with the DeFi protocol-salute you and navigate the risk of liquidation. </span><span style="box-sizing: inherit; vertical-align: inherit;">Once we learn enough, we will be with you.</span></span></p>Nischal Lal Shresthahttp://www.blogger.com/profile/05625422095651611201noreply@blogger.com0tag:blogger.com,1999:blog-8831307421570903483.post-42107465291466320322021-11-26T19:35:00.001-08:002021-11-26T19:35:51.679-08:00How to value NFT? What is the value of NFT?<p> </p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhqxJQoDq2T9aDzVqdMaV7kVa4pqrncLC1eTws45mW695fc00F3OgG80EHItDe90a5ATNnCXRo-RyTOSXYliO5er6dI7qBRVIrdctDrltYf7WL6atqjJFFbS-HsGfdokOomfRxVc2kOgqY/" style="margin-left: 1em; margin-right: 1em;"><img alt="" data-original-height="268" data-original-width="476" height="180" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhqxJQoDq2T9aDzVqdMaV7kVa4pqrncLC1eTws45mW695fc00F3OgG80EHItDe90a5ATNnCXRo-RyTOSXYliO5er6dI7qBRVIrdctDrltYf7WL6atqjJFFbS-HsGfdokOomfRxVc2kOgqY/" width="320" /></a></div><br /><p></p><p><span style="box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; text-align: justify; vertical-align: inherit;"><br /></span></p><p><span style="box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; text-align: justify; vertical-align: inherit;">NFT is a unique, non-fungible digital asset supported by blockchain ledger technology. </span><span style="box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; font-weight: bolder; text-align: justify;">Non-homogeneous tokens, digital encrypted assets, are unique, scarce, and non-replicable. </span><b style="color: #333333; font-family: Montserrat, sans-serif; font-size: 16px; outline: 0px; text-align: justify; transition: all 0.3s ease 0s;">NFTs </b><span style="background-color: white; color: #333333; font-family: Montserrat, sans-serif; font-size: 16px; text-align: justify;">are generally known as a particular type of digital collectible, such as digital art, digital trading card, a short video, a picture. NFTs are unique items verified and secured by a blockchain, the same technology used for cryptocurrencies. An NFT provides authencity of origin, ownership, uniqueness, scarcity, and permanence for any particular item.</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">In recent years, the scope of NFT use cases has become wider and wider, including digital art, domain names, games, collectibles, and so on. </span><span style="box-sizing: inherit; vertical-align: inherit;">NFT is created (ie minted) on the blockchain, such as </span></span><span class="project-highlight" id="project-ethereum" style="box-sizing: inherit; cursor: pointer; font-weight: 700; margin: 0px 0.1em; position: relative;" tabindex="0"><span style="border-bottom: 0.05rem solid rgb(239, 239, 239); box-sizing: inherit; padding-bottom: 0.1rem;"><span style="box-sizing: inherit; vertical-align: inherit;">Ethereum</span></span></span><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;"> , which can be used to verify ownership of assets (where they come from, who is the owner, etc.). </span><span style="box-sizing: inherit; vertical-align: inherit;">According to the joint report data of Nonfungible.com and L'Atelier BNP Paribas, in 2020, excluding wash trades and obsolete items, the total market value of the NFT market is approximately US$338,035,012, with an annual growth rate of 299%.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; font-weight: bolder;">Some NFTs are very expensive, with prices in the millions of dollars. </span><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">Many people may ask, how to evaluate the value of NFT relatively objectively? </span><span style="box-sizing: inherit; vertical-align: inherit;">Before answering this question, let us briefly review the development history of NFT.</span></span></p><h3 id="nft" style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 22px; line-height: 1.5; margin-bottom: 1.2rem; margin-top: 0.4rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">A brief history of NFT</span></h3><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; font-weight: bolder;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">The origin of NFT can be traced back to 2012-2013, when small denominations of colored </span></span><span class="project-highlight" id="project-bitcoin" style="box-sizing: inherit; cursor: pointer; margin: 0px 0.1em; position: relative;" tabindex="0"><span style="border-bottom: 0.05rem solid rgb(239, 239, 239); box-sizing: inherit; padding-bottom: 0.1rem;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">bitcoins-</span></span></span></span><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;"> "Colored Coins" </span><span style="box-sizing: inherit; vertical-align: inherit;">appeared </span><span style="box-sizing: inherit; vertical-align: inherit;">, representing different assets for different purposes, including collectibles, access tokens, etc. </span></span></span><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">These colored coins are "unique and identifiable from regular bitcoin transactions", embedded bitcoin scripting language, and assigned specific attribute codes to the metadata. </span><span style="box-sizing: inherit; vertical-align: inherit;">In this way, even a satoshi (0.00000001BTC) can represent any asset, whether it is dollars, stocks, houses, or digital collectibles.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><img alt="From an economic perspective, how to value NFT?" loading="lazy" src="https://web.archive.org/web/20210520100839im_/https://img.chainnews.com/material/images/ca22af74459b726c19042ff75299f25e.jpg-article" style="border: 0px; box-sizing: inherit; display: block; height: auto; margin: 1rem auto; max-width: 100%;" /></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; font-weight: bolder;">In 2014, based on colored coins, the peer-to-peer financial platform Counterparty was established to issue non-homogeneous and semi-non-homogeneous tokens. </span><span style="box-sizing: inherit; vertical-align: inherit;">The founder of Counterparty understands that Bitcoin does not support the creation of powerful asset creation and trading functions.</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><img alt="From an economic perspective, how to value NFT?" loading="lazy" src="https://web.archive.org/web/20210520100839im_/https://img.chainnews.com/material/images/31b212c91a0dcaa586f7b12c7dc26548.jpg-article" style="border: 0px; box-sizing: inherit; display: block; height: auto; margin: 1rem auto; max-width: 100%;" /></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">In 2015 and beyond, transaction cards and meme became popular. </span><span style="box-sizing: inherit; vertical-align: inherit;">Various electronic games have made digital assets stored on blockchain technology popular, including swords, shields, and even digital real estate plots.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">In 2017, CryptoKitties entered people's field of vision. This is a game centered on breedable, collectible and crypto cats. </span><span style="box-sizing: inherit; vertical-align: inherit;">Each crypto kit is unique, 100% owned by the owner, and cannot be copied, taken or destroyed.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><img alt="From an economic perspective, how to value NFT?" loading="lazy" src="https://web.archive.org/web/20210520100839im_/https://img.chainnews.com/material/images/65d2c2ddb14510f4793ffc6c619c8106.jpg-article" style="border: 0px; box-sizing: inherit; display: block; height: auto; margin: 1rem auto; max-width: 100%;" /></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">In 2021, NFT gained greater momentum and began to penetrate the mainstream economy in some unexpected ways. </span><span style="box-sizing: inherit; vertical-align: inherit;">With the continuous improvement of the foundation and underlying buildings in this field, NFT is about to create a new face of the digital economy.</span></span></p><h3 id="_1" style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 22px; line-height: 1.5; margin-bottom: 1.2rem; margin-top: 0.4rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">Collectibles consensus</span></h3><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; font-weight: bolder;">The interesting and challenge of investing in collectibles is that they have no objective intrinsic value. </span><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">When investing in stocks, you are buying a share of the company's future cash flow. You can estimate the future cash flow and discount the cash flow to the actual amount to determine the intrinsic value. </span><span style="box-sizing: inherit; vertical-align: inherit;">Not all investors do this, but despite this, the intrinsic value of stocks can be estimated.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; font-weight: bolder;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">But this kind of future cash flow does not exist in the field of collectibles, and it relies purely on consensus to build value. </span><span style="box-sizing: inherit; vertical-align: inherit;">It is the public's collective demand for the collection that has shaped its value and marketability. </span></span></span><span style="box-sizing: inherit; vertical-align: inherit;">Anyone can have a special preference for a certain artist's work, but the collective acceptance and consensus of the artist's talent by the public has created a demand for his work, and its price has been soaring.</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">From a financial point of view, collectibles have no intrinsic value, but for those who like it, it will at least have some value. </span><span style="box-sizing: inherit; vertical-align: inherit;">This is why the first rule for a collector to buy assets is to buy things you really like. </span><span style="box-sizing: inherit; vertical-align: inherit;">In this way, even in the worst case, the asset is worthless, and the holder can get a certain amount of enjoyment value from it.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">The public's consensus on collectibles is exactly why NFT assets can be recognized in the virtual world and attract more and more attention.</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">In normal circumstances, besides enjoyment value, what value does NFT have? </span><span style="box-sizing: inherit; vertical-align: inherit;">How can I use NFT to get the most material benefits? </span><span style="box-sizing: inherit; vertical-align: inherit;">How can I get the most spiritual enjoyment with NFT?</span></span></p><h3 id="nft_1" style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 22px; line-height: 1.5; margin-bottom: 1.2rem; margin-top: 0.4rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">The value concept of NFT</span></h3><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">In economic literature, goods often have two value camps: </span><span style="box-sizing: inherit; font-weight: bolder;">functional value and enjoyment value</span><span style="box-sizing: inherit; vertical-align: inherit;"> , that is, "what can I use this thing for?" and "how much do I like this thing."</span></p><h4 id="_2" style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 20px; line-height: 1.5; margin-bottom: 1.2rem; margin-top: 0.4rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">Functional value</span></h4><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">For functional value, this is where most of the discussions around NFTs are: you can show off your NFTs, show people your cryptocurrency wallets, and show NFT art or music taste. </span><span style="box-sizing: inherit; vertical-align: inherit;">In addition, the functional value also includes how much money speculative holders can make using NFT in the resale market. </span><span style="box-sizing: inherit; vertical-align: inherit;">The practice of placing real-world assets on the blockchain is also maximizing the functional value of NFT.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; font-weight: bolder;">Functional Value Analysis Framework</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; font-weight: bolder;">The value of NFT = practicality + ownership history + digital scarcity + supply and demand relationship + future value + liquidity premium</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">According to the assets represented by the NFT, the value weights of these six components are different. </span><span style="box-sizing: inherit; vertical-align: inherit;">Investors can use this framework to evaluate whether NFTs are worth investing in, and developers can also consider how to increase the value of NFTs to attract users and investors based on this value framework. </span><span style="box-sizing: inherit; vertical-align: inherit;">It is worth noting that NFT has created many new value creation methods for developers and asset owners.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; font-weight: bolder;">Practicality</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; font-weight: bolder;">The practical value of NFT depends on how to use NFT. </span><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">Game assets and tickets are representative of two major categories of high practical value. </span><span style="box-sizing: inherit; vertical-align: inherit;">For example, </span><span style="box-sizing: inherit; vertical-align: inherit;">the LAND plot in the virtual world of </span></span><span class="project-highlight" id="project-the-sandbox" style="box-sizing: inherit; cursor: pointer; font-weight: 700; margin: 0px 0.1em; position: relative;" tabindex="0"><span style="border-bottom: 0.05rem solid rgb(239, 239, 239); box-sizing: inherit; padding-bottom: 0.1rem;"><span style="box-sizing: inherit; vertical-align: inherit;">The Sandbox</span></span></span><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;"> , etc. </span><span style="box-sizing: inherit; vertical-align: inherit;">The value of NFT tickets refers to the price of event tickets. For example, users need to buy </span><span style="box-sizing: inherit; vertical-align: inherit;">tickets to </span><span style="box-sizing: inherit; vertical-align: inherit;">participate </span><span style="box-sizing: inherit; vertical-align: inherit;">in art exhibitions </span><span style="box-sizing: inherit; vertical-align: inherit;">in </span></span><span class="project-highlight" id="project-decentraland" style="box-sizing: inherit; cursor: pointer; font-weight: 700; margin: 0px 0.1em; position: relative;" tabindex="0"><span style="border-bottom: 0.05rem solid rgb(239, 239, 239); box-sizing: inherit; padding-bottom: 0.1rem;"><span style="box-sizing: inherit; vertical-align: inherit;">Decentraland</span></span></span><span style="box-sizing: inherit; vertical-align: inherit;"> .</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; font-weight: bolder;">Another dimension of practicality is the ability to use NFTs in different applications. </span><span style="box-sizing: inherit; vertical-align: inherit;">Imagine that if the same asset can be used in different games to achieve cross-chain and cross-platform use, then the practical value of NFT assets will naturally be higher.</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; font-weight: bolder;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">However, the realization of interoperability still faces numerous difficulties. </span><span style="box-sizing: inherit; vertical-align: inherit;">Currently, 90% of NFT gamers focus on only one game. </span></span></span><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">This requires developers to build a huge game ecosystem, provide interesting use cases, and attract more users. </span><span style="box-sizing: inherit; vertical-align: inherit;">Dapper Labs and Enjin are now working in this direction. </span><span style="box-sizing: inherit; vertical-align: inherit;">Although uncertainty still exists and a lot of time and energy are needed, for the entire industry, the opportunities contained therein are exciting.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; font-weight: bolder;">Another way to increase the practical value of NFTs is to establish partnerships with other companies to provide benefits to NFT holders. </span><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">For example, Dapper Labs can work with NFT event organizers to negotiate discounted prices for CryptoKitties owners. </span><span style="box-sizing: inherit; vertical-align: inherit;">The </span></span><span class="project-highlight" id="project-alphawallet" style="box-sizing: inherit; cursor: pointer; font-weight: 700; margin: 0px 0.1em; position: relative;" tabindex="0"><span style="border-bottom: 0.05rem solid rgb(239, 239, 239); box-sizing: inherit; padding-bottom: 0.1rem;"><span style="box-sizing: inherit; vertical-align: inherit;">AlphaWallet</span></span></span><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;"> of tokenScript NFT technology can effectively verify publisher and owner, so after the establishment of cooperative relations, event organizers can more easily attract more participants. </span><span style="box-sizing: inherit; vertical-align: inherit;">It is a win-win situation for both parties involved.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; font-weight: bolder;">Ownership history</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; font-weight: bolder;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">The value of ownership history depends on the identity of the NFT issuer and previous owners. </span><span style="box-sizing: inherit; vertical-align: inherit;">NFTs with high historical value are often created or issued by well-known artists or companies with strong brands.</span></span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">Take </span><span class="project-highlight" id="project-meebits" style="box-sizing: inherit; cursor: pointer; font-weight: 700; margin: 0px 0.1em; position: relative;" tabindex="0"><span style="border-bottom: 0.05rem solid rgb(239, 239, 239); box-sizing: inherit; padding-bottom: 0.1rem;"><span style="box-sizing: inherit; vertical-align: inherit;">Meebits</span></span></span><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;"> , which </span><span style="box-sizing: inherit; vertical-align: inherit;">was just released not long ago, </span><span style="box-sizing: inherit; vertical-align: inherit;">as an example. </span><span style="box-sizing: inherit; vertical-align: inherit;">The creative team of Meebits is the famous Larva Labs, known for launching one of the most popular NFT projects on the Internet, the pixel portrait game CryptoPunks.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">Meebit has a total circulation of 20,000, and each Meebit has its own style, characteristics and characteristics. </span><span style="box-sizing: inherit; vertical-align: inherit;">Many Meebit distributions are to reward early Larva Labs supporters and the blockchain community. </span><span style="box-sizing: inherit; vertical-align: inherit;">Of the 20,000 Meebits, 10,512 will be reserved for the previous Larva Labs asset holders, and the remaining 9,488 Meebits will be used for placement to other users, which will be quickly sold out through the Dutch auction mechanism. </span><span style="box-sizing: inherit; vertical-align: inherit;">Meebit casting is completely random, no one knows exactly which one will be received, but many people still spend 2.5 ETH, or nearly $8,500, to have a chance to generate rare characters.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><img alt="From an economic perspective, how to value NFT?" loading="lazy" src="https://web.archive.org/web/20210520100839im_/https://img.chainnews.com/material/images/cb61a6381fac99a1890c4a353b64956f.jpg-article" style="border: 0px; box-sizing: inherit; display: block; height: auto; margin: 1rem auto; max-width: 100%;" /></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; font-weight: bolder;">The public's enthusiasm for Meebits is not difficult to reflect people's recognition of CryptoPunks and their expectations for Larva Labs. </span><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">At this time, compared to many obscure NFT projects that are struggling to gain attention, the new Meebits has already seized the first mover advantage by virtue of its "background" bonus. </span><span style="box-sizing: inherit; vertical-align: inherit;">In addition to the primary market, the price of Meebit in the secondary market will continue to rise, and its historical ownership value is naturally very impressive.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; font-weight: bolder;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">There are two ways to increase the historical value of ownership. </span><span style="box-sizing: inherit; vertical-align: inherit;">First, cooperate with companies or individuals with strong brands to issue NFT tokens, which will naturally bring considerable traffic and users to the ecosystem.</span></span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; font-weight: bolder;">The second method is to resell NFTs held by previously influential people. </span><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">At present, it is difficult to find out who the previous owners are, and this extremely valuable historical data remains to be discovered. </span><span style="box-sizing: inherit; vertical-align: inherit;">Markets and sellers can provide easy-to-use tracking interfaces to increase the value of NFTs. </span><span style="box-sizing: inherit; vertical-align: inherit;">Taking OpenSea as an example, the platform can mark the addresses of those investors who profit the most from NFT transactions and list other NFTs they own.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; font-weight: bolder;">Digital scarcity</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; font-weight: bolder;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">Scarcity is a multiplier of the value created by collectible brands. </span><span style="box-sizing: inherit; vertical-align: inherit;">Scarcity, like a brand, has three sub-criteria: absolute scarcity, relative scarcity and availability. </span></span></span><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">Next, we will take Cryptopunks as an example. </span><span style="box-sizing: inherit; vertical-align: inherit;">Cryptopunks is the first batch of "non-homogeneous tokens" based on Ethereum, and it is also the source of inspiration for the ERC-721 protocol. It is the ERC-721 protocol that promotes the vigorous development of most digital art and collectibles industries.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><img alt="From an economic perspective, how to value NFT?" loading="lazy" src="https://web.archive.org/web/20210520100839im_/https://img.chainnews.com/material/images/4abc349fe955bd09b4d803696328c5eb.jpg-article" style="border: 0px; box-sizing: inherit; display: block; height: auto; margin: 1rem auto; max-width: 100%;" /></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; font-weight: bolder;">Absolute scarcity refers to how many products are available for a given brand. </span><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">There will always be only 10,000 cryptopunks. </span><span style="box-sizing: inherit; vertical-align: inherit;">There will be millions of hot moments in the market, but only the number of releases is the absolute quantity of supply and can reflect absolute scarcity.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; font-weight: bolder;">Relative scarcity refers to the scarcity of a given item in an absolute collection. </span><span style="box-sizing: inherit; vertical-align: inherit;">For example, among 10,000 cryptopunks, there are 6,039 male NFTs and 3840 female NFTs. However, among the scarce punks, there are only 88 zombies, 24 apes, and 9 aliens. This makes these scarce punks even more so. Valuable because they are fewer in number.</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">It is known that scarcity is the main feature of NFT. </span><span style="box-sizing: inherit; vertical-align: inherit;">The buyer knows exactly the quantity of the selected item on the basis of absolute scarcity and relative scarcity. </span><span style="box-sizing: inherit; vertical-align: inherit;">But collectors of physical items such as sports cards, cars, or shoes will never know exactly how many of a given item is.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">Absolute scarcity and relative scarcity are both determined by the developer and may have an impact on the brand. </span><span style="box-sizing: inherit; vertical-align: inherit;">If scarcity is desirable, then greater scarcity will always add value to the brand. </span><span style="box-sizing: inherit; vertical-align: inherit;">But no brand is welcomed purely because of scarcity. Brands need to go through marketing to create initial value.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; font-weight: bolder;">Absolute and relative scarcity ultimately affects usability, that is, how many products related to a given brand are available for sale at a given time. </span><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">Absolutely stronger scarcity means that buyers will have fewer opportunities to collect items from the brand, while relatively scarce items mean that buyers will have fewer chances to collect that particular collection. </span><span style="box-sizing: inherit; vertical-align: inherit;">Greater scarcity means limited supply, and as demand grows strongly, the price of supply assets may rise dynamically.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; font-weight: bolder;">Supply and demand</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">When thinking of supply and demand, many people will inevitably think of the scarcity of numbers mentioned in the previous section. </span><span style="box-sizing: inherit; vertical-align: inherit;">However, the relationship between supply and demand should be considered from two perspectives. </span><span style="box-sizing: inherit; vertical-align: inherit;">Platforms that use NFT technology will bring supply, and the less the supply, the more likely it is to bring digital scarcity. </span></span><span style="box-sizing: inherit; font-weight: bolder;">But it should be noted that these platforms will not directly bring demand. </span><span style="box-sizing: inherit; vertical-align: inherit;">Making full use of digital scarcity is indeed worthy of reference, but at the same time, even if the supply is very scarce, there must be corresponding demand.</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">The popularity of Beeple caused a sensation inside and outside the NFT field. A while ago, Beeple completed the online auction of the first digital collectible Everydays: The First 5000 Days at Christie’s. The highest transaction price of the online auction was completed, and the final transaction price was approximately US$69.3 million, setting a world record for digital art auctions and also reaching the third highest auction price of living artists. </span><span style="box-sizing: inherit; vertical-align: inherit;">This successful auction was regarded as "a watershed moment in the development of digital art."</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><img alt="From an economic perspective, how to value NFT?" loading="lazy" src="https://web.archive.org/web/20210520100839im_/https://img.chainnews.com/material/images/c69a16cd606ebbe6b755cf5a883d1b28.jpg-article" style="border: 0px; box-sizing: inherit; display: block; height: auto; margin: 1rem auto; max-width: 100%;" /></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">But most stories tend to be the opposite. </span><span style="box-sizing: inherit; vertical-align: inherit;">Some artists meticulously cast NFT artwork, spent 10 US dollars in GAS fees, uploaded the work, and posted a tweet, thinking that it would be sold for 1,000 US dollars, but no one cares about it forever. </span><span style="box-sizing: inherit; vertical-align: inherit;">To some extent, they lost $10 and wasted time and energy. </span><span style="box-sizing: inherit; vertical-align: inherit;">Therefore, while paying attention to supply, it is necessary to establish the concept of demand to play the role of digital scarcity.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; font-weight: bolder;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">At the same time, this is also related to the emergence of the super fan economy in the NFT field. </span><span style="box-sizing: inherit; vertical-align: inherit;">The emergence of the Internet makes the marginal cost of copying files basically zero. </span></span></span><span style="box-sizing: inherit; vertical-align: inherit;">In economics, it is traditionally believed that the fan economy is created by these low marginal cost technologies, such as radio or television, and most importantly, the Internet.</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; font-weight: bolder;">There is no doubt that before NFT enters the mainstream market, the fan economy is important to pay attention to, and to a large extent it will continue to expand based on the attention.</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">Those who have a large number of followers on Twitter, Instagram or YouTube, as well as those who are more active in the community, are likely to have the opportunity to reach more potential customers and have more first-mover advantages. </span><span style="box-sizing: inherit; vertical-align: inherit;">The relationship between supply and demand is a two-way process, not a problem that can be solved by digital scarcity alone. Creating demand is the way to truly realize the value of NFT assets.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">And for the NFT industry as a whole, the emergence of the fan economy may also make more people pay attention to the underlying technology and practical utility of NFT, not just the price gimmick.</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; font-weight: bolder;">Future value</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">The future value of NFT comes from both valuation changes and future cash flow conditions. </span><span style="box-sizing: inherit; vertical-align: inherit;">Valuation is driven by speculative activity and sometimes may be the main driver of price appreciation.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">For example, in December 2017, the price of CryptoKitty #18 soared from 9 ETH to 253 ETH in just three days, which was equivalent to US$110,707 at that time. </span><span style="box-sizing: inherit; vertical-align: inherit;">The recent price spikes of Meetbit are also numerous. </span><span style="box-sizing: inherit; vertical-align: inherit;">Some people may think that price fluctuations caused by valuation may have a negative impact on NFT, but speculative (capital) behavior is always a nature of most humans and an indispensable part of the current financial system. </span><span style="box-sizing: inherit; vertical-align: inherit;">If the right balance is reached, developers can increase the value of the NFT while attracting more new users.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><img alt="From an economic perspective, how to value NFT?" loading="lazy" src="https://web.archive.org/web/20210520100839im_/https://img.chainnews.com/material/images/cc3bfb6514811eaa07e9a9758d935b52.jpg-article" style="border: 0px; box-sizing: inherit; display: block; height: auto; margin: 1rem auto; max-width: 100%;" /><em style="box-sizing: inherit; color: #737373; display: inline-block; font-size: 0.7rem; text-align: center; width: 688px;"><span style="box-sizing: inherit; vertical-align: inherit;">CryptoKitty #18</span></em></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; font-weight: bolder;">Driven by the supply of non-homogeneous tokens and speculative behavior, the price trend of NFT has gradually become oriented towards financial investment expectations.</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">For example, the famous sports shoe market, StockX, had a valuation of 1 billion US dollars, partly because the platform encouraged people to guess the price of sports shoes and successfully created some scarcity in the sports shoe market.</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><img alt="From an economic perspective, how to value NFT?" loading="lazy" src="https://web.archive.org/web/20210520100839im_/https://img.chainnews.com/material/images/968f30644e408c33d878552bafd288f0.jpg-article" style="border: 0px; box-sizing: inherit; display: block; height: auto; margin: 1rem auto; max-width: 100%;" /></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; font-weight: bolder;">Future cash flow is the interest or royalties earned by the original owner of the NFT. </span><span style="box-sizing: inherit; vertical-align: inherit;">For example, </span><span class="project-highlight" id="project-superrare" style="box-sizing: inherit; cursor: pointer; font-weight: 700; margin: 0px 0.1em; position: relative;" tabindex="0"><span style="border-bottom: 0.05rem solid rgb(239, 239, 239); box-sizing: inherit; padding-bottom: 0.1rem;"><span style="box-sizing: inherit; vertical-align: inherit;">SuperRare</span></span></span><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;"> allows creators of NFT artwork to receive 3% royalties each time their artwork is subsequently sold on the secondary market. </span><span style="box-sizing: inherit; vertical-align: inherit;">Similarly, in the NFT artwork creation platform Rarible, whenever an author creates an NFT collection, a certain percentage can be set as the royalty for the second sale. </span><span style="box-sizing: inherit; vertical-align: inherit;">for example. </span><span style="box-sizing: inherit; vertical-align: inherit;">An artist created a digital work and sold it for 0.2 ETH with a royalties of 10%. </span><span style="box-sizing: inherit; vertical-align: inherit;">After that, the buyer of the work resold the painting at a higher price of 0.5 ETH, and the royalty system began to work. </span><span style="box-sizing: inherit; vertical-align: inherit;">As an original content creator, the original artist will receive 10% of the sales, which is 0.05 ETH.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; font-weight: bolder;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">In the future, developers can borrow concepts from DeFi innovations and give NFT the real-world asset functions. </span><span style="box-sizing: inherit; vertical-align: inherit;">NFT is an asset that can be leased and mortgaged, and can be speculatively resold to create additional cash flow and increase income for the holder.</span></span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; font-weight: bolder;">Liquidity premium</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; font-weight: bolder;">Liquidity premium refers to the time and cost required to convert an investment asset into cash. </span><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">Converting an asset into cash at a price close to the market price in a relatively short period of time means that the asset has higher liquidity. </span><span style="box-sizing: inherit; vertical-align: inherit;">In the field of NFT, liquidity premium refers to the use of high liquidity to convert into higher NFT value.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; font-weight: bolder;">To put it simply, on the one hand, market participants are generally optimistic about the trading prospects of a target NFT, and holders are more willing to hold it for a long time; on the other hand, market participants believe that the future prospects of other targets are not as inconvenient as the target NFT. </span><span style="box-sizing: inherit; vertical-align: inherit;">The continuous interweaving and strengthening of these two expectations psychology will give rise to the high liquidity of the underlying NFT and generate a liquidity premium.</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">The liquidity premium is the main reason why the tokens created on the chain should have higher value than the off-chain assets. </span><span style="box-sizing: inherit; vertical-align: inherit;">ERC standard NFTs can easily increase exposure to ETH holders in the secondary market and increase the number of potential buyers. </span></span><span style="box-sizing: inherit; font-weight: bolder;">Generally speaking, investors prefer to invest in NFT categories with higher trading volume, because high liquidity reduces the risk of holding NFTs.</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">Moreover, even in extreme cases where NFTs lose their utility value after the relevant platforms are closed, as long as someone is willing to buy and sell NFTs, highly liquid NFT assets will still have value. </span><span style="box-sizing: inherit; vertical-align: inherit;">On the other hand, those NFT standards that are not based on Ethereum generally lack liquidity, and the value of NFTs created on these platforms is often greatly reduced.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; font-weight: bolder;">Developers can make full use of the characteristics of its token economics to encourage users to increase the frequency of transactions, increase the participation of asset holders, and improve the liquidity of NFTs. </span><span style="box-sizing: inherit; vertical-align: inherit;">For example, the game can design a mechanism to encourage players to exchange assets to maintain their competitiveness in the game. If the assets are idle for too long, the NFT assets will depreciate accordingly.</span></p><h4 id="_3" style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 20px; line-height: 1.5; margin-bottom: 1.2rem; margin-top: 0.4rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">Enjoyment value</span></h4><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">In addition, NFT also has enjoyment value. </span><span style="box-sizing: inherit; vertical-align: inherit;">Although the enjoyment value is not as much as the material benefit of the functional value on the surface, it can more clearly outline the enjoyment elements brought by digital scarcity, which can reflect that NFT is a technological product with warmth.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">An ordinary crypto cat may not sell too high in market transactions, but it may come from a gift from a friend, or a chance coincidence. At this time, the unique characteristics of NFT make the assets in hand even more precious. </span><span style="box-sizing: inherit; vertical-align: inherit;">For most digital assets, this intrinsic hedonic value is meaningless. </span><span style="box-sizing: inherit; vertical-align: inherit;">But for NFTs, this can be an added value to attract buyers or owners.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">The enjoyment aspect of value is very abstract, and there is a term called " </span><span style="box-sizing: inherit; font-weight: bolder;">biographical indexicality.</span><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;"> " </span><span style="box-sizing: inherit; vertical-align: inherit;">In collectibles theory, people like collectibles because they have a certain biographical element that can index certain important events in the past or someone’s historical life. </span><span style="box-sizing: inherit; vertical-align: inherit;">And this concept is spreading to the digital space through the form of NFT. </span><span style="box-sizing: inherit; vertical-align: inherit;">NFT is no longer an algorithm or calculation, but an organic part of life.</span></span></p><h3 id="_4" style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 22px; line-height: 1.5; margin-bottom: 1.2rem; margin-top: 0.4rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">Valuation challenge</span></h3><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">Although the formula for NFT valuation is mentioned above, the value of NFT is far from being able to generalize with these indicators, nor can it be said that this time formula can clearly measure the accurate value of NFT in the market.</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">Even in the relatively simple process of estimating the market value of homogenized tokens, it faces various doubts, such as the supply of tokens and possible wash transactions.</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">The valuation of non-homogeneous tokens is naturally more difficult, and the challenges faced include factors such as highly speculative markets, lack of liquidity, NFT diversity, whales and market makers, and market size.</span></p><h4 id="_5" style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 20px; line-height: 1.5; margin-bottom: 1.2rem; margin-top: 0.4rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">Highly speculative market</span></h4><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">Many people will have this question: When conducting NFT valuation, whether the price of a comparable NFT asset for sale can be used to define the value of the NFT.</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; font-weight: bolder;">The answer is no. The current price list of NFTs with a certain degree of comparability is not very informative. </span><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">Although the NFT ecosystem has matured, it is still highly speculative. </span><span style="box-sizing: inherit; vertical-align: inherit;">Therefore, many buyers (more or less aware of the real market trend) purchase assets in an attempt to resell, and the resale price even reaches 10 times its value. </span><span style="box-sizing: inherit; vertical-align: inherit;">It is for this reason that in the Decentraland market, even the less than ideal $LAND list price can be as high as 10 million MANA.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><img alt="From an economic perspective, how to value NFT?" loading="lazy" src="https://web.archive.org/web/20210520100839im_/https://img.chainnews.com/material/images/9fe32d7ff389bdcb9838ad89d139900b.jpg-article" style="border: 0px; box-sizing: inherit; display: block; height: auto; margin: 1rem auto; max-width: 100%;" /></p><h4 id="_6" style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 20px; line-height: 1.5; margin-bottom: 1.2rem; margin-top: 0.4rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">Lack of liquidity</span></h4><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">Market liquidity is another difficult factor in asset valuation. </span><span style="box-sizing: inherit; vertical-align: inherit;">If no comparable asset is being sold, or the last sale was more than 6 months ago, then the current market valuation of the asset may not be so accurate.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">It should be noted that the higher the digital scarcity of assets (such as Gods Unchained cards) and unique assets (artwork released in 1 copy, not belonging to a certain art series), the harder it is to find a market value assessment Relative points of comparison.</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><img alt="From an economic perspective, how to value NFT?" loading="lazy" src="https://web.archive.org/web/20210520100839im_/https://img.chainnews.com/material/images/7fad4ac668dbfe6b6b8001a951bc0d0a.jpg-article" style="border: 0px; box-sizing: inherit; display: block; height: auto; margin: 1rem auto; max-width: 100%;" /></p><h4 id="nft_2" style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 20px; line-height: 1.5; margin-bottom: 1.2rem; margin-top: 0.4rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">NFT diversity</span></h4><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">As we all know, NFT is unique in nature, but NFT is far more than one type, but there are hundreds of types. </span><span style="box-sizing: inherit; vertical-align: inherit;">NFTs can be divided into several categories based on their basic digital assets. </span><span style="box-sizing: inherit; vertical-align: inherit;">For example, the Pokemon card NFT sold by Youtuber Logan Paul can be classified into the digital trading card category; DJ 3LAU's limited-edition album NFT, which has set a new high in sales, can be classified into the digital artwork category.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">Each project will publish its own NFT, and each NFT is composed of its own metadata, reflecting different characteristics in their respective projects. </span><span style="box-sizing: inherit; font-weight: bolder;">Therefore, the valuation of NFT can sometimes be based on objective standards, and sometimes it is based on its value in the community.</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">Therefore, to correctly evaluate the value of each type of NFT, you need to consider the metadata that defines its value.</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">Some examples of standards that define asset value:</span></p><ul style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; list-style-image: initial; list-style-position: inside; margin: 1.6rem 0px 1.6rem 1.6rem; padding: 0px; text-align: justify;"><li style="box-sizing: inherit; margin-top: 0.4rem;"><p style="box-sizing: inherit; display: inline; hyphens: auto; margin: 0px 0px 1.6rem;"><span style="box-sizing: inherit; vertical-align: inherit;">Decentraland – $LAND</span></p></li><li style="box-sizing: inherit; margin-top: 0.4rem;"><p style="box-sizing: inherit; display: inline; hyphens: auto; margin: 0px 0px 1.6rem;"><span style="box-sizing: inherit; vertical-align: inherit;">The Sandbox– $LAND</span></p></li></ul><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">Close to the center, roadside, close to the bustling area, close to the developed or popular real estate area...</span></p><ul style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; list-style-image: initial; list-style-position: inside; margin: 1.6rem 0px 1.6rem 1.6rem; padding: 0px; text-align: justify;"><li style="box-sizing: inherit; margin-top: 0.4rem;"><span style="box-sizing: inherit; vertical-align: inherit;">Gods Unchained – $CARD</span></li></ul><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">Card name, scarcity, characteristics...</span></p><ul style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; list-style-image: initial; list-style-position: inside; margin: 1.6rem 0px 1.6rem 1.6rem; padding: 0px; text-align: justify;"><li style="box-sizing: inherit; margin-top: 0.4rem;"><span style="box-sizing: inherit; vertical-align: inherit;">CryptoVoxels – $CVPA</span></li></ul><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">Land location, land size...</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">Of course, with the rapid development of NFT projects and the market, these standards need to be continuously adjusted and taken into consideration. </span><span style="box-sizing: inherit; font-weight: bolder;">According to the CCA valuation method, NFT verifiers can carefully select peer-to-peer comparables in the same category (excluding the excessively speculative sales mentioned above) to generate a large value range, not limited to a few scattered indicators, Provide a relatively reasonable pricing range for novice buyers. </span><span style="box-sizing: inherit; vertical-align: inherit;">As the number of NFT sales increases, more reliable valuations can be achieved on a larger sample basis.</span></p><h4 id="_7" style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 20px; line-height: 1.5; margin-bottom: 1.2rem; margin-top: 0.4rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">Whales and market makers</span></h4><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">Different types of participants in the NFT market participate in NFT projects in different ways. </span><span style="box-sizing: inherit; vertical-align: inherit;">The market maker can list the current purchase price of the asset, even if the asset may be higher than the market price of the previous sale.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; font-weight: bolder;">These sales create precedents/exceptions and cannot be ignored in asset valuation, but they should not be regarded as the norm for NFT valuation.</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">If Musk decides to buy a piece of land on The Sandbox for $500,000 tomorrow, does this mean that all the land on The Sandbox is worth this price? </span><span style="box-sizing: inherit; vertical-align: inherit;">Or is it only Musk's land worth the price? </span><span style="box-sizing: inherit; vertical-align: inherit;">Did he overpay, or did he define new connotations and new trends for the value of the item?</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">If the global market follows suit, he defines a new trend. </span><span style="box-sizing: inherit; vertical-align: inherit;">In the future, such scenarios will frequently appear in the NFT ecosystem.</span></span></p><h4 id="_8" style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 20px; line-height: 1.5; margin-bottom: 1.2rem; margin-top: 0.4rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">Market size</span></h4><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">Finally, another reason for the complexity of evaluating NFTs is that the NFT ecosystem and related markets are still small.</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">In market segments, such as art, trading card games, wearable devices, etc., this is more prominent and can better reflect the problem.</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; font-weight: bolder;">Therefore, non-standard sales that are more extreme and speculative tend to conceal the larger number of "classic" sales, causing market consistency to be undermined.</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><img alt="From an economic perspective, how to value NFT?" loading="lazy" src="https://web.archive.org/web/20210520100839im_/https://img.chainnews.com/material/images/9e516cfa9578fc60bcc554c87ae47d51.jpg-article" style="border: 0px; box-sizing: inherit; display: block; height: auto; margin: 1rem auto; max-width: 100%;" /><em style="box-sizing: inherit; color: #737373; display: inline-block; font-size: 0.7rem; text-align: center; width: 688px;"><span style="box-sizing: inherit; vertical-align: inherit;">General market trends</span></em></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><img alt="From an economic perspective, how to value NFT?" loading="lazy" src="https://web.archive.org/web/20210520100839im_/https://img.chainnews.com/material/images/121e53c7fbbebdc350a75ba7bc26cc46.jpg-article" style="border: 0px; box-sizing: inherit; display: block; height: auto; margin: 1rem auto; max-width: 100%;" /><em style="box-sizing: inherit; color: #737373; display: inline-block; font-size: 0.7rem; text-align: center; width: 688px;"><span style="box-sizing: inherit; vertical-align: inherit;">NFT market trends</span></em></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">Possibly, the magnitude of the difficulties faced by the NFT ecosystem valuation may only be solved by machine learning. It is necessary to evaluate various methods, conduct a large number of tests, and finally select which methods can produce the best results.</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">In addition, another challenge facing NFT valuation is related to the price of encrypted assets. </span><span style="box-sizing: inherit; vertical-align: inherit;">The price of encrypted assets will fluctuate sharply over time, which also complicates the modeling of NFT valuation.</span></span></p><h3 id="nft-vs" style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 22px; line-height: 1.5; margin-bottom: 1.2rem; margin-top: 0.4rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">NFT assets vs real world assets</span></h3><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">As more and more companies and brands begin to come into contact with the NFT field, and NFT is now a relatively young and abstract field, many people are beginning to wonder whether there may be a way to bind NFT with the real world. Frenzy.</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">Many people have this idea when they talk about NFT. </span><span style="box-sizing: inherit; vertical-align: inherit;">It is undeniable that there have been many such experiments and they have been successful. </span></span><span style="box-sizing: inherit; font-weight: bolder;">Such as the emergence of the real world asset NFT (RWANFT) launched by MATTEREUM. </span><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">rwaNFT is a pronoun that describes the virtual ownership of physical commodities. It is committed to bringing trillions of dollars of investment-grade assets such as gold, real estate and art into the virtual economy, and conducting global effective transactions in the form of NFT. </span><span style="box-sizing: inherit; vertical-align: inherit;">rwaNFT is a universal file format that can upload physical goods to the Internet for security, governance, trading and use on a global scale. </span><span style="box-sizing: inherit; vertical-align: inherit;">Therefore, using NFT as a symbolic real-world asset is indeed particularly valuable.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><img alt="From an economic perspective, how to value NFT?" loading="lazy" src="https://web.archive.org/web/20210520100839im_/https://img.chainnews.com/material/images/a0951c83b8aabaf9e2d71b1bc2b013f4.jpg-article" style="border: 0px; box-sizing: inherit; display: block; height: auto; margin: 1rem auto; max-width: 100%;" /></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; font-weight: bolder;">In addition, taking inspiration from CryptoKitties, Nike is applying for design patents based on algorithm tokens and launching tokenized sports shoes. </span><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">The patent can attach secure encrypted digital assets to physical products through blockchain technology, generate unique IDs based on shoes, and create tokens (ERC 721 or ERC1155 standards). </span><span style="box-sizing: inherit; vertical-align: inherit;">The Nike platform will also use blockchain technology to track the ownership of sports shoes and verify their authenticity.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">In this platform, buyers can safely trade and sell physical sneakers as well as virtual sneakers, and store them in a cryptocurrency wallet or other digital blockchain lockers. </span><span style="box-sizing: inherit; vertical-align: inherit;">Among them, virtual sneakers can also be mixed and "bred" to create "shoe offspring". </span><span style="box-sizing: inherit; vertical-align: inherit;">According to acceptable footwear manufacturability rules, the offspring of newly cultivated sneakers can also be customized into practical sneakers.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><img alt="From an economic perspective, how to value NFT?" loading="lazy" src="https://web.archive.org/web/20210520100839im_/https://img.chainnews.com/material/images/3eed4bceca22498fdd7087093bdc7c6d.jpg-article" style="border: 0px; box-sizing: inherit; display: block; height: auto; margin: 1rem auto; max-width: 100%;" /></p><h4 id="nft_3" style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 20px; line-height: 1.5; margin-bottom: 1.2rem; margin-top: 0.4rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">NFT assets are not exactly equivalent to real-world assets</span></h4><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; font-weight: bolder;">However, NFT does not fully represent the real world and cannot achieve complete reciprocity. </span><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">For a simple example, the tokens you hold represent a pair of sneakers worth one hundred thousand dollars. What should you do if someone steals the physical sneakers you hold? </span><span style="box-sizing: inherit; vertical-align: inherit;">You still cannot use virtual tokens to guarantee your ownership of real-world assets.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">If we return to the two value divisions of functional value and enjoyment value mentioned above, in this example, </span><span style="box-sizing: inherit; font-weight: bolder;">owning real-world assets is more like using its functional value, while NFT assets provide more enjoyment value</span><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;"> . </span><span style="box-sizing: inherit; vertical-align: inherit;">Most of the reasons why people are attracted by Nike patents are because the new NFTs that are cultivated really make it possible for them to have cool new sneakers in real life.</span></span></p><h4 id="nft_4" style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 20px; line-height: 1.5; margin-bottom: 1.2rem; margin-top: 0.4rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">NFT assets have a lower valuation than their real-world counterparts</span></h4><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><img alt="From an economic perspective, how to value NFT?" loading="lazy" src="https://web.archive.org/web/20210520100839im_/https://img.chainnews.com/material/images/b0f505ba2bbfbf1f9a177a6d60599b73.jpg-article" style="border: 0px; box-sizing: inherit; display: block; height: auto; margin: 1rem auto; max-width: 100%;" /></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><img alt="From an economic perspective, how to value NFT?" loading="lazy" src="https://web.archive.org/web/20210520100839im_/https://img.chainnews.com/material/images/510e4158727db5e4d47522be0bc15663.jpg-article" style="border: 0px; box-sizing: inherit; display: block; height: auto; margin: 1rem auto; max-width: 100%;" /></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">The two pictures above are the physical art works of the 300-year-old Jain gods in the ancient temple and the digital art works of NFT King Kong on the blockchain.</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">Even in a small community, during the opening of the new temple, the price of the “right to touch” the physical artwork can reach US$2,000-5,000. </span><span style="box-sizing: inherit; vertical-align: inherit;">This is just an example to emphasize the limitations of physical art).</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">In contrast, a media distribution company with 88 years of history and a large global audience has launched permanent trading ownership of King Kong's digital artwork, but the price is only about $1,000.</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">Therefore, we can see that nowadays, the </span><span style="box-sizing: inherit; font-weight: bolder;">prices of physical works and virtual NFT works of art are far different. The valuation of the latter is much lower than that of the former. So, is the NFT digital asset greatly undervalued, or is it its own positioning? , It’s too early to make a conclusion.</span></p><h4 id="vs" style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 20px; line-height: 1.5; margin-bottom: 1.2rem; margin-top: 0.4rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">Physical artwork vs digital artwork</span></h4><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><img alt="From an economic perspective, how to value NFT?" loading="lazy" src="https://web.archive.org/web/20210520100839im_/https://img.chainnews.com/material/images/34039e96c1718c0f98d8bdb872f20564.jpg-article" style="border: 0px; box-sizing: inherit; display: block; height: auto; margin: 1rem auto; max-width: 100%;" /></p><h3 id="_9" style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 22px; line-height: 1.5; margin-bottom: 1.2rem; margin-top: 0.4rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">Digital assets face problems</span></h3><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><img alt="From an economic perspective, how to value NFT?" loading="lazy" src="https://web.archive.org/web/20210520100839im_/https://img.chainnews.com/material/images/18153b109beb2a82fb87baac5e72866e.jpg-article" style="border: 0px; box-sizing: inherit; display: block; height: auto; margin: 1rem auto; max-width: 100%;" /></p><h4 id="nft_5" style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 20px; line-height: 1.5; margin-bottom: 1.2rem; margin-top: 0.4rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">How to improve the valuation of NFT?</span></h4><ol style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; list-style-image: initial; list-style-position: inside; margin: 1.6rem 0px 1.6rem 1.6rem; padding: 0px; text-align: justify;"><li style="box-sizing: inherit; margin-top: 0.4rem;"><p style="box-sizing: inherit; display: inline; hyphens: auto; margin: 0px 0px 1.6rem;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">Develop digital infrastructure and increase the utility of NFT (using NFT as collateral, using it in VR, etc.). </span><span style="box-sizing: inherit; vertical-align: inherit;">Increase utility, increase value.</span></span></p></li><li style="box-sizing: inherit; margin-top: 0.4rem;"><p style="box-sizing: inherit; display: inline; hyphens: auto; margin: 0px 0px 1.6rem;"><span style="box-sizing: inherit; vertical-align: inherit;">Establish partnerships with various companies, such as Harry Potter, Star Wars, Disney, etc., and incorporate them into the NFT field to develop their value.</span></p></li><li style="box-sizing: inherit; margin-top: 0.4rem;"><p style="box-sizing: inherit; display: inline; hyphens: auto; margin: 0px 0px 1.6rem;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">Let NFT become an important revenue stream for the entertainment industry and a monetized community channel. </span><span style="box-sizing: inherit; vertical-align: inherit;">(Mark Cuban has similar expectations for the NBA).</span></span></p></li><li style="box-sizing: inherit; margin-top: 0.4rem;"><p style="box-sizing: inherit; display: inline; hyphens: auto; margin: 0px 0px 1.6rem;"><span style="box-sizing: inherit; vertical-align: inherit;">Brand marketing has become the "next beeple", allowing the value of artworks to increase over time.</span></p></li><li style="box-sizing: inherit; margin-top: 0.4rem;"><p style="box-sizing: inherit; display: inline; hyphens: auto; margin: 0px 0px 1.6rem;"><span style="box-sizing: inherit; vertical-align: inherit;">Bitcoin, Ethereum and cryptocurrencies have grown against the U.S. dollar.</span></p></li></ol><h3 id="_10" style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 22px; line-height: 1.5; margin-bottom: 1.2rem; margin-top: 0.4rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">Subvert the Internet</span></h3><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">We have to admit that now for many people who post their work on the Internet, anyone who has access to a computer or mobile phone can access their work for free. </span><span style="box-sizing: inherit; vertical-align: inherit;">But the arrival of NFT may change our concept and understanding of the open Internet.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;">The idea of opening the Internet has a profound impact on us. </span><span style="box-sizing: inherit; font-weight: bolder;">In a sense, NFT will indeed bring scarcity to things that are not scarce.</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">Someone might immediately retort, why do people want to make something more scarce if they want it? </span><span style="box-sizing: inherit; vertical-align: inherit;">Elinor Ostrom, who won the Nobel Prize in Economics, once conducted an interesting experiment, studying the way people manage their assets with or without government intervention, and came to </span><span style="box-sizing: inherit; vertical-align: inherit;">the conclusion </span></span><span style="box-sizing: inherit; font-weight: bolder;">of the tragedy of the commons</span><span style="box-sizing: inherit; vertical-align: inherit;"> -excessive Consumption will bring harm to everyone in the society.</span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; text-align: justify;"><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">The freedom brought by the Internet and social media may deplete the inventory and value of content. </span><span style="box-sizing: inherit; vertical-align: inherit;">Any work-which consumes a lot of time and energy-once put on the Internet, the marginal cost of copying it is zero, and the price of the work is basically zero. </span><span style="box-sizing: inherit; vertical-align: inherit;">This means that no matter how much experience you give, no one will pay for the work. </span><span style="box-sizing: inherit; vertical-align: inherit;">Considering this situation, more scarcity does bring benefits.</span></span></p><p style="background-color: white; box-sizing: inherit; color: #333333; font-family: -apple-system, system-ui, BlinkMacSystemFont, "SF Pro SC", "SF Pro Text", "Segoe UI", Roboto, "Helvetica Neue", sans-serif; font-size: 16px; hyphens: auto; margin: 0px 0px 1.6rem; outline: 0px; text-align: justify;"><span style="box-sizing: inherit; font-weight: bolder;">The duality of NFT provides a solution to this problem. </span><span style="box-sizing: inherit; vertical-align: inherit;"><span style="box-sizing: inherit; vertical-align: inherit;">Someone is willing to pay large sums of money and want to establish a connection with a certain piece of art or music, but the work can still be viewed openly for free. </span><span style="box-sizing: inherit; vertical-align: inherit;">This duality can not only preserve the openness of the Internet, but also bring material rewards to the original author. </span><span style="box-sizing: inherit; vertical-align: inherit;">In the future, this may subvert people's perception of the openness of the traditional Internet and build more people's demand for digital scarcity.</span></span></p>Nischal Lal Shresthahttp://www.blogger.com/profile/05625422095651611201noreply@blogger.com0