The value of NFT? Is it a lie? Or a new form of art?
You may have seen this monkey on the internet from time to time. With a disdainful expression and different styling, the monkey seems to have captured the attention of millions of Internet users overnight.
Bored Ape Yacht Club (BAYC), often known as Bored Ape, is a non-fungible token (NFT) collection built on the Ethereum blockchain. The collection features profile pictures of cartoon apes that are procedurally generated by an algorithm.
Let’s slow down for a bit. Don’t worry about getting more confused about what NFT is. Let’s take a closer look at it and see how it will change the future.
Non-fungible, means unique and can’t be replaced with something else. sounds very cool right?
Yes, every NFT is unique. In the boring, technical sense that every NFT is a unique token on the blockchain. But while it could be like a van Gogh, where there’s only one definitive actual version, it could also be like a trading card, where there’s 50 or hundreds of numbered copies of the same artwork. (Mitchell Clark).
However, this concept has long been judged on whether it truly has value as collectibles. With the growing popularity of NFTs, more and more artists are devoted to this industry. But the lack of innovation and similarities encumber the development and social recognition of NFTs. Recently, the Bored Ape Yacht Club crisis has been happening and has gained a lot of attention. A well-known artist has netted $1.8 million by selling knockoff versions of the Bored Ape Yacht Club collection after claiming this largest NFT brand was secretly run by Nazi supporters. Some people think the artist has some point, but others think he is cashing in on the NFT craze. Now the Bored Ape Yacht Club is suing the artist in a case that could well end up having more far-reaching consequences than either side expects.
Said Michael Bouhanna, Co-Head of Digital Sales at Sotheby’s, ‘We are living in a crossover phase, in which there is contemporary art, within which artists who only operate in the virtual world must also be taken into account.’ Originality is also a crucial problem needed to be settled urgently. But indeed, the categories of NFTs are not simply an art form.
EXACTLY. In face of the hinder of restrictions on NFTs, artists creators, and collectors all ought to embrace a broader range of various NFTs. The definition of NFTs should not be narrowed, instead, it should be widened constantly. Parallel Office is creating something different. As the first business ecosystem in the metaverse, We are creating NFTs beyond the normal.
Parallel Office is actively exploiting technologies and building up a world ‘in a cloud’ exclusively for smart working. With the help of superb 3D VR technology, people working in the Parallel Office metaverse can have real work experience. They can freely meet, talk, and collaborate with each other in time with higher efficiency. It is exciting to announce that a series of our new NFTs as ‘robots’ will be presented in October. Instead of being a chaser of fashion, Parallel Office is dedicated to creating new stuff and standing at the top of trending. On top of releasing the special version of NFTs as offices in the metaverse.
Are you ready to dive into the wide sea of NFTs and welcome the heated wave?