Are NFTs the Next Amazon
Transcript:
Hey guys, good morning. Welcome to NFT Daily where I bring you the top news in the NFT industry like right now. We will first cover market news and then we will take a look at what these top NFT token are performing. We have Chiliz, Decentraland Digibyte and Enjin coin all up today. And I brought up reasons why they were up a few days ago. So we are doing pretty well and holding steady at the top five NFT positions right now. So the news I have today are focused on several interesting articles that I found. We'll go over this question, what is NFT architecture? And how is it different from regular 3D models?
Well, the first quick thing I have is "Are NFT's digital?" So you can go online at any platform and see what NFC architecture looks like. One great platform is Decentraland where you can see virtual environments being built such as malls, shopping centers, parks, homes, houses, video game stores, and everything you can think of even buying pizza from decentralized. It is just crazy. Alright, so let's go ahead and see what this article is talking about. And with that said, like when it comes to 3d modeling, I used to work for a firm as an intern back in high school during my senior year, and they structured houses on 3d models like physical things you could touch. So those are like different distinctions. 3d models are physical, what you could see and if it's NF T's, it's more digital. But then you have digital physical models that are not necessarily NF T's. So what do you call it an a tea. And a tea. It's something is a non fungible token that is existing on a platform. So unless you don't have a platform as an NF T, that's the question I have for you guys. What do you guys think? Me personally, we could just call anything an NFT. If it has value to you, and you want to sell it digitally? Go ahead. That isn't it. Alright, so let's read on to what this article says. The first, NF t digital house was sold for last month for 500,000, which is crazy. Designed by artists Krista Kim demos, the Mars house is composed of translucent surfaces, and covered with magnesita and blue gradient set in a mountain landscape with an everlasting sunset. Kim described it as a light sculpture and in her own words, she wishes to sit in it with pro friends. All right, that's cool, nice piece of work right here. But you'll see many more of these things. And even better looking on virtual platforms like decentraland. If you guys haven't checked out decentraland check it out. It's an awesome virtual environment. And it was pretty much to number one, actually the first blockchain virtual environment NFT platforms on aetherium. And I think is the first one that was ever built on that network. So yeah, and there's been a lot decentralized apps have ad auctions, like they have grossed more than a million dollars. So this piece of art is nothing new. Alright, let's go to next article. What does our friend Gary Vee say? What? energy this is what I hate about these articles you go on, you click on them and they see these annoying advertising. And then it tells you do you want to allow cookies? It's so insane. Alright, anyway, Gary Vee. NFT is the next Amazon. I'm like, What is he saying? One day he's like, on social media. He's on a news outlets. He sent a lot of good things. But the next day you're like, this doesn't make sense. Amazon's a company, obviously NFT is like a thing. It's like arts non fungible tokens. So how was it the next Amazon? Um, maybe if you are like an open sea, and you are housing and selling entities, then yeah, I could see that becoming a de next Amazon in a few years. But I think we have this is like two separate things. A lot of times what these cnn news outlets would like to do is like take clickbait as titles, and but then they don't really talk about the actual topic. Well, let's see. Maybe we're lucky this time. Let's see what they say. All right. serial entrepreneur Gary Vee is selling a new case for NFC smart tokens that have real value rather than digital art. Okay, good. Start. V walk. Buyers three access to his v con business and marketing convention. Customers can buy tokens with a frame currency. Okay, so he started off his own business, which is good. I think he'll do successful. He's a good salesperson. He's a good marketer. He's a good social media influencer. But let's go and see what he's trying to say comprennent nmtc Amazon. So he talks a little bit about how he created his wine company back in 1996, as I'm seeing right here, and how the internet has slowly, boomed since then, like web 3.0 2.0. But now we're talking about non fungible tokens and for art selling for like 69 million, which was the people art. That was crazy, too. But he says just one caveat, I do believe that 98% 99% of NRT products will fail as investments, but that's similar to me as Internet stocks in 1990 to 2000, but amazon.com was there, the internet changed our lives and the blockchain and NF T's will do that as well. So Gary Vee is making all this analysis and artists comparison, but then he says, but Amazon was there. Yeah, Amazon was a company and an internet was used to grow Amazon. So what is he talking about NF T's and comparing two NF T and Amazon. I guess what he's trying to say is just like Amazon, a lot of these NF T's will die, but in later years, there will be success from grow. Okay, I get it. Alright, so you said yourself Gary Vee. Let's go on to the next article. Here we have from TechCrunch. Could NFT auctions be moving away from etherion? One new group is betting day Well, guys, if you don't know about aetherium, the problem it has is with congestion. I remember and this is true story. sometime last year, I was transacting on a firm network and a gas price was 100 bucks. I've heard people pay up to 400 bucks and I'm like guys who has that type of money. So I bet this article is talking about congestion on a friend network it becomes where like this too many people it becomes overcrowded. And when you really want to buy things on peak demand. That's where the surge price when it comes to gas fees get out of control. Let's see what's going on what one says one new group is betting a will. Alright, so NF T's were arguably already taken off when people sold his NFT artwork for $69 million. The group literally burnt the artwork and sodas NF T on the open c platform for $400,000. By moving a physical piece, the group call itself burnt Bansi proved that the value of the piece wasn't affected by destroying it. Okay. Now their product has another start going on. It's raised $3 million, which is good on the so long Solana blockchain. The product is backed with venture capitalists and investors Mark Cuban good. That's a big name and some other firms over here. Hence the Spartan so forth. The reason why it's worth mentioning all this is that in trying to auction that painting, the burnt bassy group stumbled on an increasing problem in a word of NF T's. Their rising congestion on a firm network is leading to larger and larger galleries. That's what we said right? This is making bulk the creation and bidding of NF T's increasingly expensive, just from a baseline so just group is planning to switch to the self Lana blockchain which will make things good in terms of speed performance and low transaction costs. Are we going to see other groups move away from the frame network guys comment let me know what would be dat alternative? I do know by Nance smart chain is coming up with your own binance nF t platform. And I think that's going to be really big and huge given that already. These on binance Smart chain is cheap and has no comparison to different and binance has growing steady demand and high growth right now. So I am really excited if you guys can see it about the binance NFT platform that's coming soon. And binance honestly is here to stay in the future on NES aetherium 2.0 comes out If it starts to scale, then it it may stay but right now he just has his network issue that has to be resolved. Alright, so let's go over to our next article. This one was interesting. I'm not sure if you guys are MMA fans, but star apne Johnson jumps back into the cage and into NF T's we will see a lot of art artists, athletes and entertainers jump into the NF t craze. We will see I have seen it all. Who's that guy Jake Paul. Big yell. He also has a brother who stolen something as well on social media space.
Johnson has does have a fight coming up. I think if that fight is successful, then he might see a little bit of business on his NFT platform. I'm not his platform, his collection that he will be putting on lazy, calm, lazy calm is where he will be hosting his collection. And I believe he's working with Mark Cuban Mark Cuban has something going on laser comm to mark Cuban's a big investor in the space. Alright, so what this let's see what Johnson has to say, to be the first fighter to have a collection. It's a big honor for me, Johnson said, and on top of it to have it with Mark Cuban on easy calm, I'm still in shock with the whole thing. Let me know if you guys are interested in entertainers, boxers, celebrities, I can cover that I have no interest in down. I'm more into the space for like, a like NFT platforms. I like collections. But I think right now, just how Gary Vee saying that majority of these NF T's will fail. I'm gonna be like a vulture and look at all the dead NF T's within the next few years and pick up value from what I see is very good collections. Even though like, I think we're in a good bubble, I think this blog was necessary. Because after a bubble just like the Internet, and Amazon and all the.com companies, early 2000 started, we saw, they created this equal, they create an ecosystem. And that's what's important. They created the benchmark and a framework and they did all that hard stuff. So the hard stuff is being built now to make the pavement smoother for the next few years. Alright, guys, let me know what you think comment, like, I like comments. It helps us become better. Even if it's bad, it's helpful. It's helpful. And I appreciate that. I saw one guy who commented and said scam on the bind with pineapple token, I appreciate that. That means that I and my team here will dig closely into it. We'll be watching how to find token and we final platform on a by Nance chain does and if they are successful in your mission, because we're here to help you end of the day. And if we can't help then we'll find someone that can and do a better job. Okay. All right guys. Have a great day. Talk to you later.
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Sources:
https://www.cnn.com/2021/05/05/investing/gary-vaynerchuk-the-chat/index.html
https://coinmarketcap.com/view/collectibles-nfts/
Nick is a content creator for Sobuka with a background in programming, information technology, finance and digital forensics.
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Disclaimer
The information on this blog is not financial advice. Before you invest in cryptocurrencies, please speak to a financial advisor.