As the cryptocurrency market has seen a price retreat in recent months, sentiment in the cryptocurrency market is showing extreme fear.
In the NFT market space, NFT sales have been on a rapid downward trend since mid-February. Several major mainstream NFTs, including Azuki, Bored Ape Yachat Club, and NFT Worlds, have seen their floor prices drop by 20-35% over the past period.
Because the NFT market was exceptionally hot in the early days, the fallout feels extremely strong compared to the current cold situation. Despite the current ongoing downturn in the cryptocurrency market, the revolution around Crypto is ongoing and unstoppable.
What is certain is that the digital property rights that NFT represents will become very important and that there is a huge opportunity, and that property rights have unparalleled value in helping to lift people out of poverty. The opportunity for digital property rights will allow us to find all sorts of practical applications that for now we can’t even imagine, just like DeFi in its early stages.
Looking back at the history of NFT development, the initial NFT outing was defined as in-game assets, a path consisting of Cryptokitties and a series of early Crpto on-chain games with NFT elements, and so far this one genre passed down into two branches: one led by Axie for various P2E games, with NFT as a tool for striking gold; the other is like Sandbox, selling land to make money, but the land bought can not directly generate returns at present. After NFT emerged Superare as the representative of crypto art platform, began to expand NFT from the category of game assets to collectibles.
After going through all of these ecologies above, what is the next NFT application scenario that will catch fire? See what areas institutions are focusing on.
A16z and other head organizations are laid out
NFT eco-active investors include a16z, Coinbase Ventures, Digital Currency Group, Dapper Labs, Alameda Research, Dragonfly Capital and others.
Recently, a16z led investments in digital toy NFT platforms Cryptoys, Sophon NFT, PartyDAO and others. a16z partner Chris Dixon posted an article comparing the state of Web3 in the Internet era and today, and published a chart of financial cycles and product cycles. Chris Dixon believes the best place for Crypto and Web3.
a16z (ANDREESSEN HOROWITZ) is a venture capital firm based in Silicon Valley, California, founded by Marc Andreessen and Ben Horowitz. Since its inception, a16z has invested in star companies such as Facebook, Twitter, Airbnb and Slack. As a trendsetter in crypto market investment, a16z is increasing its investment in the NFT space and currently invests in NFT projects such as OpenSea, Dapper Labs, Zeb Run developer Virtually Human Studio and Bitski.
Focusing on Web3 ecology, Sophon NFT emerges as a leader
Sophon NFT is an NFT co-governance protocol led by a16z and co-sponsored by Nations, AiGuild DAO, Spark Union, Love DAO, TigerVC DAO and other native Web3 autonomous organizations – Sophon NFT Protocal.
The total number of Sophon NFTs issued is 9999, of which 999 are Genesis NFTs. Mint status is now open to 21 quality crypto communities and organizations that are eager to participate in the building of the Sophon ecosystem, and the holders of these 21 Sophon Genesis NFTs will form the first phase of the Sophon NFT Governance Committee (which will be renewed every 3 months). The Mint privileges of each Genesis NFT will be proposed after official application and approved by the Governance Committee.
Sophon’s goal is very clear, that is, based on the “Sophon community building”, to create a long-term development potential of Web3.0 diversified application community, and by the community as the main body to build, own. According to the development of the community, Sophon NFT is the community pass of Web3 autonomous organization, and the holder can enjoy the rights and interests of the community.
Sophon revenue is divided into NFT value-added revenue and community ecological revenue.
NFT Value Added Benefits
All Sophon NFTs are available in a blind box, divided into four different rarities and four different races. Each NFT has a different value, with the higher the rarity the higher the value. As an entry ticket to Sophon’s ecology, the subsequent addition of more communities, organizations and institutions will further enhance the value of NFT itself. In addition, the games and film universe built on Sophon IP will also provide more empowerment for NFT.
Sophon Community Ecological Benefits
With the expansion of Sophon’s global ecological layout and the accumulation of loyal community users, Sophon NFT, as the only credential of the community alliance, will have more ecological value as the market expands, and early holders will see faster and higher substantial income.
Finally, despite a drop in buzz and sales, NFT is showing strong growth potential with a narrative that intertwines reality and virtual.
