A Simple Explanation of NFT Digital Collectibles: Understanding the Meaning of Digital Artwork NFTs

NFT digital collections are an emerging concept that has attracted much attention in recent years. It has caused a huge sensation in the fields of art, entertainment, games and other fields. So, what is an NFT digital collection? Simply put, NFT, which stands for Non-Fungible Token, is a digital asset based on blockchain technology. Unlike traditional cryptocurrencies, each NFT is unique, unique and irreplaceable. They can represent artwork, music, videos, game props, etc., allowing people to own and trade precious items digitally. The emergence of NFT digital collections has provided artists, creators and collectors with a new way of creation and trading, and has become a new favorite in the digital age.

#What does NFT digital collection mean?

NFT can be roughly divided into three categories: avatars, game props in GameFi chain games, and digital collections with signatures.

Digital collections are unique digital certificates generated using blockchain technology to protect the digital copyright of works and achieve credible digital distribution, purchase, collection and use.

Digital collections may change the way people collect for hundreds or thousands of years. The traditional form of collection is usually physical objects, such as jewelry, jade and works of art, etc. We can actually own these collections. Digital collections are a technological innovation that uses blockchain technology to convert specific artworks into unique digital certificates and store them in our online accounts. This change may subvert the concept and practice of traditional collections, making it more convenient for people to collect and appreciate art.

Characteristics of digital collections:

(1)Digitalization: Because of its unique digital identification, it can protect the rights and interests of consumers;

(2)Transparency: Traceable on the blockchain, ensuring the transparency of the transaction process;

(3) Scarcity: The release of each collection is limited, which can also ensure its scarcity;

(4) Authenticity: transferable, eliminating counterfeiting.

NFT collection value analysis

NFT collections have a certain value, such as some artistic pictures, avatars, artworks, physical items, etc. A certain "certain" is mainly formed behind a digital collection. "subculture" circle, thus forming a strong consensus that possessing digital collections gives you an identity and asset, which demonstrates your personality. In addition, due to their limited quantity and scarcity, they have a certain collection value. Some digital collections can even appreciate in value, such as the previous one. Recently, the digital collections of major museums in China issued based on Ant Chain have very great art collection value. Therefore, coupled with the factor of hype, it has caused "price gouging". Even a picture can be sold for a sky-high price in the market. Not surprisingly, it is difficult for some people to understand, but not all digital collections can be hyped to sky-high prices. "

The regulatory authorities have successively interviewed related companies such as Tencent and Alibaba. Tencent and Alibaba have modified the NFT wording of related products on the platform and turned it into the current "digital collection". Tencent and Alibaba also It is clearly stated in the user regulations that digital collections cannot be traded, and speculation is prohibited.

Since 2021, the popularity of digital collections has been rising, and it can be said to be a miracle in the collection circle. Although it is still There are many investors who have little understanding of digital collections, but entering 2022, the popularity of digital collections has not dropped but has increased. This NFT collection is different from traditional physical collections such as jewelry and art. Virtual collections generated through blockchain technology are precisely because they are virtual, so many people are still skeptical about NFT digital collections, but the market is very optimistic about the development of digital collections.

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