Month: July 2023

Eggy Go went viral during the Early 2023 via live streaming platforms. The number of daily active users was over 30 million and the single-month turnover of Eggy Go on the IOS device in March reached 1.8 billion yuan, which had exceeded Genshin Impact.

My kid and all of his classmates were addicted to playing Eggy Go, which made me wonder why they’re so into it. He bet with me that if his test result reaches the demands, I should play the game with him. Finally he won and I started to play Eggy Go. Unexpectedly, I’m completely absorbed by the game! The several factors that Eggy Go can hit a success are summarized as follow:

1. Imitating the easy-to-play gameplay of Fall Guys, which with relaxing social property.

2. The adorable painting style, cheerful music and sweet voice are strikingly attractive to millennials and most of them are addicted to the game at the first time they played.

3. UGC map production is very grounded. It’s said that there are millions of creators in the game and the average number of new maps is more than 100,000.

4. Taking advantage of the community to heat the game up and the game influencers to make commerce on live-streaming platforms.

Come to think of it, Eggy Go’s sociability, UGC and community-driven approaches are exactly in line with the features of WEB3 games! Is there a WEB3 game like Eggy Go? After a period of research with my pals, we discovered that there are two WEB3 blockchain games like Eggy Go, which are named Puffverse and Party Planet.

Puffverse has been hot in the past few months and its recent fund-raising round has made good progress. Its gameplay is basically the same as Eggy Go. Although its delicateness and playability lose a little ground to Eggy Go, it should be a WEB3 hit game if its UGC function can reach 70% of the Eggy Go. There are a bunch of basic introductions of Puffverse online and you could search for them yourselves. Today we mainly introduce Party Planet, a recently-launched and relatively-niche WEB3 party game with sociability. It’s an easy-to-play game and the gameplay is more abundant than Eggy Go.

1.How to start?

There are some basic links of Party Planet:

Twitter：@SkylandNFTs

Telegram (English): https://t.me/Skytopia Community

Telegram (Chinese): https://t.me/SkytopiaCN

Its website is named Skytopia, which may be the name of the gaming platform. Party Planet is the first game series produced by the Skytopia platform. When I opened the official website for the first time, I was deeply attracted by its exquisite cartoon style and believe that the game was created by a WEB2 gaming team with some prior knowledge of design.

But why not design several entries on the top of the official website? I scrolled down for a long time to find the Go to Play to download the game pack. After downloading, the login window with email and password will appear. Then I returned to the top right corner of the official website and saw a CMP logo there. I checked that it was a public chain named EVM.

WEB3 users click directly on the “connect wallet” on the right of “CMP” and link to the official website with MetaMask. (Check here to set up a CMP network in MetaMask: https://medium.com/@SkylandNFTs/how-to-add-cmp-network-to-metamask-wallet-15369a41c668 ) Follow the steps to set up your mailbox and password and enter Party Planet by using the mailbox and password on the login page.

When writing this article, I was going to complain about the next two points: First, most PC games are for game enthusiasts, and why not play this easy small game directly with the web cloud gaming? Besides, users have to download the installation package and I think it could be further optimized. Second, users are required to register by linking their wallets and I believe that WEB2 users will be blocked from entering in WEB3. Why not allow users to register by mailbox directly and they can choose to bind their wallets when it’s necessary?

Then I found that the second one was fixed. Party Planet was updated on July 3 and WEB2 users are allowed to log in through third parties (Twitter/Google Email/Facebook), and users can login in the game directly by using their mailbox. At the same time the in-game store, where users can buy Tickets and SR Skins, also launched in Party Planet. It appears that the project side has been improving the product.

Well, let me hold back the other complaints and play the game first.

2.How to play?

As soon as you enter the game, you will see this interface. If you don’t have SR NFTs, you can click “Free Play” on the bottom right of the game interface and then one game will appear randomly. Currently there should be 6 games in Party Planet and the project side will release a new game every 1-2 weeks. I have to say that there is a rat race in WEB3.

Let’s take a look at each of these games.

Game 1: Mushroom Madness

Players will jump on the adjacent wooden stake after the countdown ends to eat mushrooms and gain corresponding points. If they happen to choose the same wooden stake with other players, they will collide and not receive any points. There are three types of mushrooms, and the more beautiful and numerous the mushroom, the more points the player will get.

This game is about strategy between players. Players want to jump on the stake with many mushrooms and this behavior will lead to their collision, so players need to take a gambling in this game. It’s the most difficult one among the 6 games in Party Planet because man’s heart is so unpredictable, and winning streaks of many players have ended in the Mushroom Madness.

Game 2: Football Frenzy

2 players team up and aim to kick the football into the opposing team’s goal, and each successful goal will earn one point for the scoring team. Players can use the X key to dash and steal the ball from their opponents. The game not only requires players’ cooperation with their teammates but also rapid and accurate movements.

Game 3: Candy Chaos

Each player holds plates on their heads, using arrow keys to control the movement to catch candies falling from the sky. Players will earn one point for each candy they catch and lose three points when catching a bomb.

At first I didn’t know the exact location to pick up candies. Then it turns out that all players have to do is to follow the shadow and use the X key on the keyboard to dash forward.

Game 4: Fugitive Finder

The cards will be flipped over in a certain order to show fugitive characters. Players are required to remember the position of the different characters within a limited time. After the officer reveals a portrait of the fugitive, players should find the fugitive card among the 16 cards as soon as possible and then hold it up.

Fugitive Finder is my favorite game at the moment, and it will test your memory and brain power! Sprinting with X key can also knock others away. Hum! How dare you grab with me?

Game 5: Word War

Players should step on the corresponding letters presented on their heads in order and press the Z key to spell the word and see who can spell the most words. It seems that children can play this game to learn English.

Game 6: Arctic Assault

Players are randomly distributed on a hexagonal slippery ice. They can push the opponents away for some distance by using arrow keys and X key.

It is worth mentioning that the slippery ice may cause players themselves to fall into the pool if they weren’t paying attention. Arctic Assault is a great test of the player’s timing and game control.

Each player has three chances of revival. All players need to do is try to live to the end. In addition, ice will continue to shrink over time and the movable range for players is also getting smaller. There is always tension in the game. Whether to survive or fight also tests players’ decision-making ability!

From the current six games in Party Planet, it can be seen that the project team’s engagement in game production is much stronger than those of general blockchain games:

First, the art style is unified in these 6 games. Skytopia is different from many blockchain games, which are completely a hodgepodge of casual games bought from various small studios outside.

Second, compared to the finger-operated gameplay of Eggy Go, Currently these 6 games meet various tastes and the needs of different players. Word War is suitable for parent and child to play; Football Frenzy is about the cooperation between 2 teammates; Mushroom Madness is about strategy; Fugitive Finder is about brain power; Candy Chaos is about the bigger picture and Arctic Attack is about game control. Diverse gameplay highlights the charm of casual games, which can be close to a larger user base with different interests.

Third, there are not too many people in WEB3 currently, so each game is a group of four and it’s easy to match. If these 6 games require 24 participants like Eggy Go, the majority of participants are estimated to be robots.

So from the production precision of casual games, Party Planet is really outstanding in blockchain. The team is worth our praise!

In addition to the Free Play mode described above, you can also click on “Competitive Party”, namely PVP mode, in the interface of Party Planet. But players need 1 ticket to participate in the Competitive Party. (Players could buy 1 ticket by consuming 100 $DPM, the subcoin in Skytopia, which currently can be earned by participating in Free Play, etc.).

The Competitive Party Mode announces the ranking on the leaderboard every Monday morning, with the Top 100 being rewarded with in-game token $DPM and Skytopia’s governance token $FPU.

There is a Season Mode on the top of “Free Play” and “Competitive Party” in the interface. (It’s removed temporarily in the latest version, so players can’t see it in early July.) You can click on it and go inside to pick up stars in the Tasks, and then go to Rewards to claim your rewards, including $DPM and Party Tickets, and even customized skins.

Finally, it is worth mentioning that Public Chat Room was launched in the latest version updated on July 3rd. It’s the most important component of casual social games because users are not only here to play competitive games, but also here to socialize with others.

3.Project Background

A.Team

From the introduction of members in the core team on the official website, the founder of Skytopia is a veteran in blockchain. Cofounders and game producer are professionals in the traditional gaming industry. The game producer, with 20 years’ work experience in gaming, worked in large companies like NetEase and Funplus and handled projects with a turnover of 1 billion.

Two of the core members are majoring in Art and Visual Design. No wonder this game has such great graphics!

B.Media Matrix

Twitter: with a high engagement, the official Twitter has 11o,000 followers (an increase of 50,000 this month) and keeps 2 updates per day or so. The pinning tweet was released on June 20th with more than 2,500 comments. I think there has been an ongoing event that increases engagement.

Discord：With an average engagement, currently there are 33,000 people and 300-500 of them are usually online. The engagement in the English channel is higher than that in the Chinese channel.

Telegram：With an average engagement, currently there are 18,000 people and 2000-3000 of them are usually online. The engagement has started to increase and we see newcomers join the community every day.

Medium: There is a high engagement in Medium. I’m used to observing the Medium of the project side and notice that the projects which are good at promoting themselves always only tweet crazily. Therefore, if there are continuous updates, some regular reports and the like on Medium, I believe that the project team is doing things steadily and has long-term planning. Skytopia’s Medium has been updated since May, 2022 with 1-2 articles coming out per week. Besides, the operating style is somewhat similar to that of Western game teams.

C.Story Background

The game is named Party Planet. From Skytopia’s website, it shows that Party Planet is only the first series of games on the platform followed by four other series of games: Mysterious Village, Cyber Racing Star, Dream Island, The City of Ruins. The cover drawings of each series of games on the official website is exquisite and worth a look.

D.Current Stage

From those chatting in the Skytopia community on Discord, the project should be developed for more than 1 year and started to mint NFT in the second half of last year. There have been two rounds of Free Mint and a total of more than 2,000 releases. You can click on “Go to Marketplace” on the official website and purchase them on Coinswap, the secondary market on CMP public blockchain. The current floor price of NFT is about 10U.

But I don’t understand why such a well-crafted game is going to be on Caduceus (CMP), a little blockchain. The CMP token keeps low prices now and always be on some second-tier leading exchanges. The main trading volume of the token is on Bybit and the current price is 0.03U. Did CMP give Skytopia a big Grant when it was developed? So it’s very understandable that the project has released the message that it is going to deploy to other chains. The magnitude of CMP in the public blockchain could not prop up the game quality of Skytopia.

IV. Economic Model

Finally, it comes to the economic model that I’m most concerned about. I have not found any information about the economic model on the official website and I think it is still being designed and adjusted. So I can only summarize the information I’ve got into a table for your reference based on the public information and its gameplay.

This project is clearly the style of the senior game team in WEB2. The team was concerned about the game quality. NFTs are not on sale but for Freemint and you won’t be played for suckers. Both tokens are currently only consumed or acquired in the game, and haven’t been listed on Dex or Cex. I don’t know when it will be listed, but I think it’s better to wait for an opportune moment in case squandering such a dedicated product developed for almost 2 years.

V. Project Summary

I always believe that in terms of the characteristics of the current users of WEB3 blockchain games, it’s not very suitable to create 3A games in WEB3. When 90% of the users come for money, hoping to certainly know a game in a few hours and when the users want to be the first players, it may be more likely for casual games to become explosive products, even just in the short term.

Eggy Go is the most successful game in WEB2 detonated by millennials’ social communication. Can “Party Planet” developed by Skytopia become the leader of WEB3 social blockchain games?

It appears that the following issues need to be addressed:

1. Deploy as soon as possible on some public blockchains with a large user base, and it is definitely not appropriate to launch on such a small public blockchain;
2. Imitate the success path of casual games such as “Goose Goose Duck”, “Among US” and”Eggy Go”, and try to expand popularity through social media influencers?
3. Now the game is only available for PC, which is too heavy for users to carry with. Will the mobile and web version be launched in the future?
4. The economic model demands more designs or nesting dolls, and the second layer of social narratives needs to be laid out.
5. Overall, Party Planet has outperformed 95% of the blockchain games on the market in terms of art style and game smoothness. Looking forward to its performance in WEB3!

 

On January 31, 2023, Netflix (Netflix) released a trailer for an animated film called “Father and Boy”. Immediately caused an uproar in the industry, this animation co-produced by Japan Nai (Netflix JP) and Japan WIT Studio, Microsoft Xiaobing Japan Branch (rinna) is the first animation in history to use Commercial cartoons with backgrounds generated by AI technology. Most of the scene drawing work in the film is done by artificial intelligence, while the characters and animal characters in the film – the boy and the dog – are done by hand in the traditional animation production method.

Once this short film was released, it immediately aroused the attention and discussion of media at home and abroad. The impact of AI technology may redefine the entire industry. At present, the limitations of the animation industry have become more and more obvious, such as high labor costs and cumbersome production process: animation production relies on huge repetitive labor and requires a lot of manual participation, including animators, script writers, voice actors, etc. Not only is the cost of human resources training and employment relatively high, but the production cycle of a work is long, which greatly limits the further development of the industry. In addition to Netflix, project teams of more companies are trying to break through industry bottlenecks through AI technology.

Digital empowerment industry – Mingle land

Currently, Mingle land, a team that claims to be from Gillian, is also using AI technology to solve the problem of tedious drawing work in the animation production process. It is understood that the Mingle AI developed by the team is a vertical algorithm model for two-dimensional animation production. It mainly combines specific characters and scenes through training, so that it can generate corresponding animation videos only by inputting description text. .

Some people in the industry said: the maturity of this model will greatly subvert the generation method of the animation industry. With its continuous upgrading and iteration, it will become very convenient to use Mingle AI to create animation in the future. At that time, creators only need to integrate more Focus on creative aspects such as plot setting. Through AI technology, maybe everyone can become Hayao Miyazaki one day in the future.

Netflix’s new animation ” Dogs and Boys” and the efforts of the Mingle Land team show that AI technology is rapidly pushing the animation industry forward. It not only changed the way animation is produced, but also brought more possibilities for creators and audiences. With the continuous advancement of technology, the animation industry will usher in a more brilliant era in the future.

Brand new business idea – AINFTGC

In the digital age, it is the general trend to rely on technology to empower the physical industry . Since the birth of the concept of the metaverse in China, it has joined the process of opening up the metaverse. After a long period of research and development preparations, Mingle Land has combined AI and NFT in the field of animation, making NFT an The important means of production “AINFTGC” has achieved a new business form and has become a hot concept pursued by capital. With the convection and collection of global resources, community activities are in full swing, and the cultural ecology has entered a period of global explosion.

In order to solve the limitations of models and materials, the Mingle Land team proposed a brand new business concept – AINFTGC (Artificial Intelligence & Non-Fungible Token Generated content): make the supported characters into decentralized assets NFT, and users can When using characters to generate animations through Mingle AI, you need to pay the NFT holders instead of the developers. Perhaps this will make NFT an extremely important means of production in this ecology.

Peek into its “ambition” from innovation

Judging from the information disclosed by Mingle land, Mingle land is a cultural ecology that integrates generative AI and Web3 technology . The open metaverse of Borderlands . This generative AI tool uses advanced machine learning and generative confrontation network ( GAN) algorithms to provide NFTs character references, animation generation, character replacement and other functions to help users participate in content and business expansion around the Mingle land world. Through the application of Web3 technology, the assetization of IP roles in the ecosystem and the certification of rights and interests are realized. The result is an “AINFTGC+Open world” cultural ecology that is jointly built by the community and supports unlimited expansion .

That is to say, Mingle land is not just a tool, but a cultural ecology that is based on AI, combined with blockchain technology, animation and games as delivery methods, and builds a cultural ecology that is created, expanded, and governed by users. The characters created by it no longer stay in the rigid and unchanging plot, but can expand the plot and business scenarios infinitely according to the imagination of users or third-party commercial companies. If traditional IP relies on fan consumption to support commercial development, then Mingle land handed over both to AI and users.

Judging from the official information released by Mingle Land, the team is trying to integrate AI-based and Web3-related technologies, and expand it to the open world ecology, building a borderless open metaverse space, and its space environment and content will be controlled by users. Created through AI, and through Web3 technology, the assetization of IP roles in the ecosystem and the certification of rights and interests will be realized. Digital assets will be certified on the blockchain and become virtual assets that can circulate freely.

innovative Web3 cultural ecological aggregation

The Mingle land team has been deeply involved in the blockchain for many years. With its outstanding application strength, it serves China’s digital network, intelligent manufacturing and supply chain management fields. It is well recognized by the industry. It will continue to work with global partners to build an open, innovative and win-win intelligence It is a forward-looking initiative to quantify cultural ecology, further promote the prosperity and development of the global economy , and promote the process of the digital era of Web3.0 culture .

In the future , Mingle Land will continue to integrate the strong capital strength of its platform and the potential energy of a huge user group, continuously amplify the wealth benefits created by culture , and create a new era of legends of encrypted digital culture !

Elon Musk, the visionary entrepreneur, sparks controversy once again, this time with his thought-provoking ideas about the future of the sperm bank industry. One business, the Gilia Project (www.giliaproject.com), emerges as a pioneer, revolutionizing the landscape with cutting-edge technology. Let’s delve deeper into how this innovative project is reshaping the industry and providing a unique opportunity for prospective donors to make a lasting impact on families worldwide.

The Controversial Vision of Elon Musk

Elon Musk, renowned CEO of Tesla and SpaceX, is known for his bold and sometimes controversial statements. Recently, he has raised eyebrows by discussing the declining birth rate and the potential consequences of artificial intelligence (AI) on the world’s population. Musk’s perspectives have ignited a debate about the future of humanity and the role of innovative solutions in addressing these challenges.

Redefining the Sperm Bank Experience

Amidst this discourse, the Gilia Project is disrupting the traditional sperm bank experience by incorporating cutting-edge technology. By leveraging AI and advanced algorithms, this project aims to optimize the donor-recipient matching process, enhancing precision and success rates. With a strong focus on quality and safety, the Gilia Project offers a comprehensive screening process to ensure the highest standards are met.

Prospective donors have the opportunity to be part of this groundbreaking initiative and make a significant impact on the lives of others. Notably, the Gilia Project stands out by offering an exceptional compensation package, providing donors with 4x more compensation than industry standards. A single sperm donation can earn donors up to $8,000, acknowledging their invaluable contribution and dedication to the process. This attractive compensation model has attracted a diverse pool of donors, including individuals from various backgrounds and professions.

Empowering Prospective Donors

The Gilia Project recognizes the invaluable contribution of donors and offers an environment that fosters personal growth and empowerment. Beyond financial compensation, prospective donors become catalysts in fulfilling the dreams of individuals and families longing to start a family. The project provides ongoing support and counseling to donors, ensuring their well-being throughout the process.

Furthermore, the Gilia Project takes great care in educating donors about the impact of their donations and the potential outcomes for the recipients. Donors gain a deeper understanding of the emotions and challenges faced by individuals and couples seeking donor assistance, fostering empathy and a sense of fulfillment in their contribution.

Cutting-Edge Technology: Revolutionizing the Landscape

The Gilia Project’s incorporation of cutting-edge technology sets it apart from traditional sperm banks. Through AI algorithms, extensive donor profiling, and meticulous recipient preferences, this project maximizes compatibility and increases the chances of successful conception. By analyzing vast amounts of data, including genetic markers and medical history, the Gilia Project can identify the most suitable matches between donors and recipients, optimizing the likelihood of a healthy pregnancy.

Moreover, the project employs advanced cryopreservation techniques to ensure the long-term viability of donated sperm. By utilizing state-of-the-art facilities and adhering to stringent quality control measures, the Gilia Project guarantees the preservation of genetic material in optimal conditions.

Education and Impact

For individuals considering sperm donation, the Gilia Project offers a unique opportunity to make a lasting impact on the lives of others. By embracing this venture, donors become agents of change, supporting individuals and families worldwide in their journey toward parenthood. The commitment to quality, safety, and personalized care ensures a fulfilling and impactful experience for prospective donors.

The Gilia Project also actively engages in educational outreach programs to raise awareness about infertility, reproductive health, and the role of sperm donation. By dispelling myths and providing accurate information, the project aims to empower individuals with knowledge and promote a greater understanding of the possibilities offered by assisted reproductive technologies.

The Future of the Sperm Bank Industry

As Elon Musk’s thought-provoking vision and the Gilia Project’s cutting-edge technology converge, the landscape of the sperm bank industry is undergoing a significant transformation. The project’s success has inspired other businesses and organizations to explore innovative approaches in the fertility field.

Looking ahead, advancements in AI, genetic screening, and assisted reproduction techniques hold the potential to further revolutionize the industry. Researchers and scientists are continually pushing the boundaries of knowledge, striving to improve success rates and minimize potential risks associated with reproductive interventions.

Conclusion

Elon Musk’s visionary ideas have once again challenged the status quo, this time turning the spotlight on the sperm bank industry. The Gilia Project, with its commitment to technological innovation, comprehensive care, and impactful donor experience, is reshaping the industry landscape. By providing a unique opportunity for prospective donors to make a lasting impact on the lives of others, the project paves the way for a future where assisted reproduction is more precise, accessible, and supportive.

As society evolves and embraces the possibilities offered by science and technology, the Gilia Project and similar ventures are at the forefront of shaping a future where individuals and families worldwide can fulfill their dreams of parenthood. With a compassionate approach, rigorous quality standards, and a dedication to making a positive difference, the Gilia Project represents a beacon of hope in the realm of reproductive assistance.

Web3.0 Decentralized hybrid contract trading platform —— creates a new field of block finance!

Ebay2023 June 20, shock, the global issuance of 1 million tokens, the final deflation destroyed to 10,000, unprecedented millions of communities together, super capital to support, incomparable competitive advantage!

Ebay is a decentralized hybrid contract trading platform deployed on arbitrum and binance smart chain initiated by the Ebay America Foundation. It supports users to aggregate various decentralized transactions such as asset pledge, contract mining and lending! At the same time, EBay has received capital injection and support from a16z, Accel Capital, Regional Capital, Hongxin Capital, Danhua Capital, Carlyle Capital, JPMorgan Chase and many other famous fund giants. Based in Asia, Europe and the United States, Pratt & Whitney Global.

Ebay takes the goal of “building the combination of industry and finance and creating a perfect capital circulation ecology”, adhering to the concept of “making investment easier and making financial management more convenient”, focuses on investment in emerging industries through blockchain technology, and is committed to becoming a Web3.0 decentralized financial management ecological platform!

 

Last week, an English Twitter SPACE with the theme “Looking for opportunities of ZK Rollup (Looking for ZK Rollup opportunities)” attracted widespread attention from overseas cryptocurrency circles.

The idea of NFTs has become popularized by the expanding metaverse industry and has emerged as the latest market favorite. As a subset of digital art, NFT art offers the digital age a new and varied aesthetic expression. It not only breathes fresh life into a number of established businesses, but also gives artists and innovators a brand-new platform from which to work and earn money. Additionally, it presents a brand-new investment possibility to regular investors.

However, what I want to highlight today is that there are problems concealed underneath the dazzling NFT industry. Your retained NFTs will lose value as more and more NFT platforms close their doors. The NFT market is currently contracting, and this is a trend.

What makes me say this? It’s critical to remember that despite the NFT market’s rapid growth, there is currently no regulation or standardization in place. The NFT market is threatened by problems like unending energy use, piracy, technological security issues, and legal entanglements. Let me elaborate on each of these problems.

1）Governmental repression and regulatory difficulties

For the NFT market, policies and regulations are of the utmost importance. Prior to now, the Securities and Futures Commission (SFC) in Hong Kong had issued warnings to investors regarding the dangers of NFTs. According to the SFC, NFTs have higher risks than other virtual assets, such as low secondary market liquidity, volatility, opaque pricing, hacking, and fraud.NFTs blur the lines between collectibles and financial assets, according to the SFC. The SFC mandates that NFTs that involve securities be governed and that NFTs that involve fundraising be granted licenses or authorizations by the SFC.

“I believe the Securities and Exchange Commission (SEC) has provided very little clarity on NFTs, and there are many gray areas,” a U.S. SEC commissioner once said. They continued, “I believe that individuals need to exercise extreme caution in this scenario since there is so much uncertainty. This level of ‘regulation’ is not optimal.” This assertion underscores the skepticism with which regulatory bodies view the NFT sector. After all, there are dangers of financialization and securitization during the issuing and trade of NFTs because of their rarity and the possibility for investment. Some embed financial strategies into the underlying commodities of NFTs, using the NFT as an alias to evade regulation and engage in financial trading activities. For instance, presenting NFTs as financial goods, promoting or incentivizing speculation and trading, serving as an intermediary for financing and investments, using leverage, and other similar activities. Such corporate models will be subject to significant regulatory issues, whether they are domestic or global.

2）Endless Energy Consumption

The effects of NFTs on the ecosystem around the world have been made public by the U.S. Environmental Protection Agency (EPA). The majority of NFT minting platforms use energy-intensive consensus procedures, such as Proof of Work (PoW), which results in high energy usage and carbon emissions, according to an EPA report that was published at the time. A typical illustration of this is the OpenSea platform.

The major energy consumption issue driving the NFT craze has been further confirmed by statistics from foreign sources indicating an NFT platform uses almost 421 kWh in a week, which is equal to the electricity usage of an EU resident for 1.5 months.

3）Rampant Infringement and Proliferation of Knock-offs

The contemporary NFT trading market for digital collectibles has grown massively. In China alone, there are at least hundreds of NFT trading platforms, not to mention the scenario elsewhere. Data can be used to verify the trading volumes of prominent platforms. Plagiarism is a problem in NFT digital collectibles on such a wide scale.

When it comes to NFTs, copyright and replica issues are very important. Many followers have shown that the majority of NFT works released on multiple platforms are made by making secondary changes to works from other platforms, and some works are even explicitly “copied and pasted,” which presenting serious copyright problems.

4）Technological Risks

Blockchain technology’s vulnerabilities originate from its immaturity and the architecture of blockchain processes and which are inextricably linked to the security of NFT transactions.

On the one hand, smart contracts, the essential technological foundation of NFTs, contain security flaws due to flawed program architectures. NFT encryption technology and storage keys, on the other hand, are vulnerable to viral attacks.

Blockchain’s intrinsic technological vulnerabilities pose hidden threats for NFT trading activity. Furthermore, the potential of privacy data leakage, such as identification information and transaction details, grows throughout the whole NFT bidding and trading process. If any leakage happens during the passage of NFTs, the security of participants’ assets may be jeopardized.

As far as we know, several NFT platforms in the market have never publicly revealed their contract audit information, implying that their underlying contracts have not been subjected to security audits. This suggests high asset risk as well as the possibility of covert operations.

In conclusion, according to the research presented above, many risk considerations exist behind the allure of NFTs, with regulatory impact being especially relevant. Remember the recent regulatory crackdown in the cryptocurrency business, when key exchanges Coinbase and Binance were sued by the SEC? Regulatory actions can occur at any time, and the current mixed bag of the NFT market could be the next target. When this occurs, the glittering bubble of NFTs will inevitably break.

Therefore, what is the future of the NFT market? The only way to know is to wait and see.

The idea of NFTs has just come to the forefront of public consciousness, propelling it to the position of market favourite thanks to the meteoric rise in popularity of the metaverse market. NFT art, which is a subgenre of digital art, has given rise to a new artistic practice that is rich in variety in this age of technology. Not only does it resuscitate a large number of historic sectors, but it also gives artists and producers a new outlet for their work and an additional source of revenue. In addition to this, it opens up a completely fresh investment opportunity for regular investors.

When we talk about non-fungible tokens (NFTs), it’s impossible not to think of REVA. In 2022, REVA disrupted the standard NFT trading paradigm and transformed the market with its unique collateralized lending method. This allowed REVA to address a variety of pain issues while also providing reliable profits for investors. Around the course of an astonishingly brief amount of time, it amassed more than 6 million members all around the world, solidifying its position as the market leader.

But today, what I want to say is that behind the glamorous NFT market, there are hidden risks to some extent, and which will lead more and more NFT platforms’ collapse in the future, and the NFTs you hold will only depreciate further. In other words, the decline of the NFT market has become a trend. Why do I say this? Well, the development of the NFT market has been rapid, but it currently lacks adequate regulation and standardization. Issues such as endless energy consumption behind NFTs, piracy, technological security, financial risks, and legal risks have always loomed over the NFT market like the sword of Damocles. Let’s take the example of the REVA platform to delve into this further.

1) Endless Energy Consumption

The Environmental Protection Agency (EPA) of the United States has made public information regarding the effect that NFTs have on the environment in general. The majority of non-fungible token minting platforms use energy-intensive consensus processes, such as Proof of Work (PoW), according to the EPA report that was published, which results in significant amounts of energy consumption and carbon emissions. In this way, the REVA’s case has surely proved the existence of harsh energy efficiency problems behind the scene of NFT booming.

2) Infringement, Piracy, and Proliferation of Copyrights

With hundreds of NFT trading platforms in China and countless more across the world, the digital collectibles NFT trading business is booming. Leading platforms’ transaction volumes are easily available and the problem of NFT plagiarism is becoming more widespread inside such a large context.

Take a closer look, the issues with copyright piracy and counterfeiting on the REVA platform are significant. A large number of REVA users and fans have revealed behind-the-scenes evidence suggesting that the vast majority of NFT artworks released on the REVA platform are based on secondary alterations of works originally released on other platforms. To be clear, there are serious copyright issues with the direct copying and pasting of some artworks on the market.

3) Technological Risks

The risks associated with blockchain technology stem from its immature state and the design of blockchain mechanisms, which are inextricably linked to the security of NFT transactions.

On the one hand, smart contracts, which serve as the foundational technology for NFTs, contain security flaws due to flawed program architectures. NFT encryption method and storage keys, on the other hand, are vulnerable to virus intrusion.

These inherent technical flaws in blockchain provide additional hazards for NFT trading activity. Furthermore, the risks of privacy data leaks, such as diverse identification and transaction information, continuously increase during the entire process of NFT bidding and transactions. If a leakage occurrence occurs during the flow of NFTs, the security of participants’ assets may be jeopardized.

According to current research, REVA has never officially revealed any contract audit information, implying that its underlying contracts have not been subjected to security audits. This indicates tremendous asset risk as well as the possibility of covert operations.

4) Financial Hazards

Risks such as financialization and securitization tendencies frequently occur throughout the process of NFT issuance and trade due to the scarcity of NFTs and the potential for investment possibilities. Some include financial techniques into the underlying commodities of NFTs, allowing them to avoid rules and participate in financial transactions while utilizing the NFT designation. For example, packaging NFTs as financial products, and encouraging speculative trading; financing and leveraged operations. REVA’s present model is a classic example, integrating financial management with the concept of NFTs to attract investors with high-yielding promises. In fact, many people are still unaware that this business strategy is subject to considerable regulatory hazards.

According to the evidence provided above, several risk factors exist beneath the glitzy veneer of NFTs, with regulatory impact being especially prominent. Remember the recent regulatory crackdown in the cryptocurrency space, when key exchanges like Coinbase and Binance were sued by regulatory organizations like the SEC? Regulatory actions could occur at any time, and the current mixed NFT market could be the next target. When this occurs, the glittering NFT bubble will inevitably explode.

We can only speculate on how REVA will respond.