On December 2, the live broadcast interview program “Spirit School” sponsored by Sutradollars Space Research Institute was officially launched. Through the connection with the media, industry personnel, enterprise executives and so on, the program analyzed the hot topics of the industry and felt the pulse of the development trend of the industry.
“Lingjing School” phase 001, the speed of the way to the space research Institute invited the dollars spaceship and the number of Tibetan ship manager Huang Kai, and the speed of the way network technology channel editor, the speed of the way to the space research institute senior analyst Qiao Zhibin, with the recent digital collection industry to discuss the hot “digital collection platform retreat” as the topic, to discuss the problems existing in the development of the field of digital collection, and the way to break the game.
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The “bear market” in digital collections is caused by the reversal of supply and demand
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In the first half of 2022, the digital collection industry showed an explosive growth, and the number of relevant distribution platforms also increased by more than ten times compared with last year. In only half a year, the number of digital collection platforms increased from 58 at the end of 2021 to more than 500. By the end of November, the number of domestic digital collection platforms had exceeded 800. However, in the second half of the year, the digital collection market suddenly hit a cold wave, the price of a large number of digital collections “plunged”, the value of smaller digital collection platforms almost zero, even the “phenomenon” of the BAYC boring monkey digital collection, Justin Bieber bought BAYC #3001 for $1.29 million in January this year. It has lost 95 per cent of its value in 10 months.
“The reason for the digital collections bear market is the reversal of supply and demand.”
Huang Kai said that in April and May of this year, the value of Trands collection on platforms such as art, magic collection and iBox was once up to millions. This was not due to the artistic value of the collection itself, but the “priority purchase” right in the primary market, which allowed the holders to enjoy the premium in the secondary market of digital collection at the beginning of the year. Opening the “right of first purchase” of new collections to users who have already sold digital collections is called “nesting doll style” in the industry.
However, the rapidly heated market attracted a large number of imitators. At that time, more than 100 new collection platforms were launched every month, and an average of 4 to 5 platforms were launched every day. These platforms were almost identical in terms of template, interface, gameplay and even the name of the collection, with a highly “homogenized” operation model. Triggered a surge in the number of platforms and collection sales at the end of the year, while the corresponding market demand began to slow down.
Since then, the supply and demand relationship has started to reverse, and the more items are sold, the more the collection on the platform shows an “inflation” trend. Although the platform has tried to reduce the number of collections with the introduction of “composite” gameplay, in Huang’s opinion, if the platform can’t continue to gain new users, the platform and the collection will shrink.
In the face of the sudden “bear market” in the digital collection industry, Qiao Zhibin pointed out,
The essence of digital collection is data, which is endowed with the attribute of storage based on the immutable, traceable and decentralized storage technology provided by blockchain technology, and becomes a kind of virtual commodity stored on the blockchain.
Its value is reflected in how it combines with the industry to generate new increments, such as the use of digital collections to drive the recovery of the cultural and blogging industry under the influence of the epidemic. At present, the picture content with the most obvious value reduction in the platform can be called “digital art”, but different IP for users’ value cognition varies from person to person. Meanwhile, AIGC technology is used for mass production of digital collections, which further reduces the value of collections.
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“Nesting doll” operation hidden risks, refund platform hidden tricks
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The 2022 Digital Collection Industry Research Report of Sutu Meta-Space Research Institute reveals the core nature of the contradictions in digital collections at the present stage, namely
“The contradiction between digital technology to reduce cost and increase efficiency for the industry and the pursuit of value increment simply by selling virtual data”.
Suzang platforms are usually unable to survive through the “nesting doll” gameplay, and since September, the “shutdown wave” of Suzang platforms has become a new controversy point in the industry. In September and October, more than 20 platforms announced their withdrawal every month, and in November, the number was close to 40. Except for Tencent Phantom Core, which is relatively user friendly with 100% refund based on the sale price, most platforms offer 5% to 30% refund based on the sale price, causing users to suffer serious economic losses.
Huang Kai said that a large number of small and medium-sized platforms with 10-30 percent refund itself is a big speculative risk. Most of these platforms have the same characteristics: the establishment time is usually not more than 3 months, to pull new activities and “open the secondary market” rumors to attract speculative users, and through trading means to pull and break the plate, so that the value of the users in the hands of the instant evaporation, become the platform harvest “leek”, and when the user development is too late.
Afterwards, these platforms either run away from maintenance, or issue a notice announcing the failure of the platform operation, recycling the collection only at 10-30% of the sale price, and asking for a refund. Users are not allowed to hold the platform accountable again, making users “dumb to eat a lot of gold.”
When it comes to how users should avoid the economic losses caused by buying data, Huang also gives three suggestions:
First of all, users need to correct their attitude, recognize the use value of digital collections, make it clear that they are not speculative products, and avoid becoming “leeks” harvested by the platform due to greed.
Secondly, in the selection of platforms, it is necessary to see whether the platform and IP parties have adopted the method of continuous operation, mining the commercial value or personal rights and interests of the collection IP, to bring value to the holders, rather than the speculative game of hyping up the collection price through various means.
Finally, it calls on the industry to introduce policies related to digital collections as soon as possible to increase the certainty of the industry. On the one hand, it can attract more competent and standardized big factories to join the industry; On the other hand, accelerate the liquidation of non-compliant platforms, and realize the development pattern of “good money driving out bad money”.
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The number of Tibetan industry “break the circle” is imperative
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According to the 2022 Digital Collection Industry Research Report released by Sutudollars Space Research Institute in October, at present, 23.29% of buyers still believe that the main value of digital collections is to bring more economic value over time based on scarcity, and to bring more profits for themselves in the process of sale or transfer, with certain speculative risks.
Qiao Zhibin pointed out that if the digital platform is regarded as a field, the field is a “zero-sum game” of capital, then to maintain the operation of the platform, it is easy to touch the development ceiling by pulling the new “repay the old debt with the new debt”; Therefore, “breaking the circle” from the periphery to find incremental digital collection issuers must face the problem.
Digital collection is based on blockchain technology, which is essentially applicable to the tool of certificate confirmation. Therefore, how to use the tool to gain greater value is the key to “break the circle” of digital collection.
Huang Kai said that the number of Tibetan how to break the circle has become the current industry to discuss the common topic. In his opinion, the development direction of digital collection is not only the collection itself, but also more angles to explore.
Some successful cases, for example, make PFP collections into the “Pass card” of social groups. When users see the same collection, they feel as if they have found the “same kind” in the meta-universe, and thus open the infinite imagination of social networking and IP operation.
Just like most industries, it is usually difficult to avoid the speculative bubble brought by capital in the early stage of rapid rise. Some users suffer losses from irregular platforms, while some serious platforms leave bitterly because they cannot resist the speculative trend. Today’s “bear market” of digital collections may be the manifestation of the bursting of the industry bubble and the return of practitioners and users to rationality. Only when the value of digital collections returns to its rightful place can the industry truly move on the right track.
Metauniverse is a burgeoning proposition, in the face of the endless industry hot topics in the future, “Wonderland group” will also invite marketing experts, technical experts, and even corporate executives in the vortex of public opinion, to create one of the strongest voice positions in the metauniverse industry.
