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Why did NFT become popular?
The market capitalization of cryptocurrencies based on Bitcoin reached an all-time high of $2 trillion (USD) in early 2021, reflecting the increased interest in the worldwide digital assets industry since 2020. At the same time, as interest in digital assets grew, so did interest in NFT. In particular, thanks to the irreplaceable nature of NFT, it began to receive great attention from the art business and related auction industries.
•NFT’s effect in the field of art
Along with the creation of digital art that does not exist in the real world, it is common for artists to issue and sell NFT in order to increase competition due to the shortage of actual artworks. As a result, a growing number of world-renowned auction houses are auctioning digital art issued with NFT. Furthermore, since the COVID-19 epidemic has lasted longer, the NFT market has the potential to develop more quickly because the auctions are held online. According to local media, on. cc. HK NFT accounted for almost one-third of worldwide online art auction activity in the first half of this year.
•More and more large corporations are interested in and applying NFT.
The South China Morning Post (SCMP), a media company with a history of 118 years in Hong Kong, announced plans to enter the NFT field in July this year, and opened the world’s first NFT gallery, “Start Art Gallery,” at K11 Musea, a large shopping mall in Hong Kong. It is said that all of the artworks displayed in the actual gallery are NFT-sized digital artworks and are sold for between 50 and 2 million dollars on online NFT platforms. Although the high price of digital artworks may make it difficult for ordinary consumers to enter the NFT market, according to Larry Lam, founder of the NFT trading platform Articoin, by showing the public NFT artworks in real form, their awareness of digital art and related NFT markets will expand.
2021 is also the year of growth for the NFT market. As NFT digital works are traded at prices that ordinary people cannot imagine, and NFT is widely known to the public, the number of NFT Google searches has skyrocketed, and the number of users of the NFT platform is also increasing. Following this, many celebrities, large corporations, and popular brands across the industry are also rapidly adopting NFT.
In anticipation of the long-term trend, the 12 Guardians have NFT products that have both artistic value and spiritual value. More information will be provided in subsequent postings.🤗
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