子敬

Finished reading @lonelyhorseme bro’s
"NFT is constantly developing, but we are falling behind"
The following is my reflection on witnessing the rise and fall of NFT projects in the Chinese region in the past two years💔

"The Chinese NFT circle is almost dead. When PFP, as the engine of the wealth effect, gradually stalls, NFT has gradually become what everyone calls "dogs don't play" in the Chinese circle. "
——This seems to have become a consensus🥶

In the final analysis, the root cause lies in Eastern ideology. Because of China's rapid modernization process, it took us decades to complete the path that Europe and the United States took for nearly 200 years. From famine and war, to extreme material poverty, to the fact that most people now have no food and clothing. Worry even begins to enjoy life

🔥Preliminary introduction, the trend of Socialfi track led by Friend tech has been intensifying recently. Personally, it seems that there are two forms of socialfi products (non-professional players, please add and correct if there are any omissions or errors)🅰Let’s talk about the first one There are three mainstream players in the market who are relatively loud: @friendtech
@starsarenacom
@tomo_social The current situation of these three products is different: ◼FT is in the growth bottleneck period when the product has no new hot spots and is diverted by other competing products; ◼SA is in the crisis recovery period after the last systemic risk, and the current product is still waiting In the second launch, the latest update is that the product has been launched, but the trading function has not yet been launched; ◼Tomo is in a sharp retracement or quiet period after the first wave of short-term popularity. Its true value still needs to be released by the project party’s financing news, and To verify the updates on the product side (this is basically the same as the path of early FT), especially for the financial security that everyone is more concerned about, the fastest way is to launch the H5 web page as a backup plan (the ios side of Metamask has been removed from the shelves for many Players have sounded the alarm 🤣Now restored), as word of mouth spreads through the grapevine, the second round of climbing has now begun. Summary 1️⃣The biggest commonality of this type of products is ponzi (we will not discuss this first) I would like to comment. At present, it is impossible to define the quality of ponzi based on its model, or to determine whether players can make money from it. This has a great relationship with personal ability. Moreover, at this stage, any web3 product with some fi attributes seems to be like There are only a few examples that are not ponzi. After all, financial attributes are the top priority of the current web3 hotspot rotation) 2️⃣The important point is the second point. The delivery of the final value of this type of existing products heavily depends on the room owner. Operational capabilities, whether it is early alpha information, personal relationships, various physical objects, virtual asset draws, or even offline empowerment, all require conscientious room owners who want to operate well to invest a lot of energy in maintaining user relationships and providing holders with Providing valuable things to match the support of Key holders. Of course, there is also an expected benefit for holders and room owners in the later points redemption airdrop. This is also an important point to look at, but in the end it is extremely uncertain. The distribution mechanism of airdrops is also a completely centralized black box. The final mechanism is decided by the project party. Most of the participating users come to fight for their expectations. With the help of a capital, a short-term wealth creation effect will be generated🔷The core of this type of product at present The disadvantages lie in two points (let’s not discuss the wear and tear caused by the ultra-high commission for each transaction) 🔹Some high-quality content creators who cherish their own feathers and just want to output content diligently but do not have time to run the room will not join. This ponzi movement has invisibly limited the upper limit of the entire product end. You can see that many truly influential content producers in the Chinese and English areas on tw have not opened their own rooms on ft. Users have also Unable to purchase keys (although Tomo cleverly solved ft's dilemma with the concept of unclaimed value), in this way, for key holders of this type of room owners, although in the short term it does help players to ambush some unsettled players. room owner, but in the long run, if the room owner decides not to settle in, the user experience on the product side will be completely reduced to a financial game lasting more than 6 months. It can be said that at least in terms of content acquisition, There will be no value for this type of users) 🔹For Social, our traditional thinking should be to expand social influence, thereby expanding more beneficial marginal effects on content dissemination. I have previously published an article discussing the logic of ft-type products , the exponential increase in the price of the main room key is naturally not conducive to subsequent players, blocking many potential paying users from the door, unable to grow, and limiting the scale of users🔸There is also a third point that is not a focus of discussion , because the income of the homeowner is directly linked to the platform's rake, and the commission for each transaction is divided into half. As far as the income model is concerned, it will lead to the way to maximize the income of the homeowner without considering the fluctuation of the Key price, which is to encourage the high liquidity of the Key holder. sex, rather than user acquisition (this point considers the comparison pattern of most head FT room owners, and the current market incremental funds are too small. This behavior is relatively rare, and belongs to the room owner sacrificing personal economic interests in exchange for social value. One way, but there are still problems in terms of mechanism) 🅱The second category is another branch of the socialfi track. It only requires simple tag # tags in daily interactions on tw to achieve interactive projects, which is understandable. 0 masturbation projects, you can participate without investing money 1️⃣The representative here is @tipcoineth, who was very popular more than a month ago. Judging from the current review, although it can be said to have phenomenal popularity at the time, in the short-term fomo Later, due to the design problem of the product mechanism, a large number of influencers brushed each other's points and a large number of bots were kicked off in the early stage. However, the project party did not make reasonable restrictions and avoidance of this situation, resulting in extremely high chip concentration. Three rounds of airdrops After the currency passed, it led to a large number of market crashes, and no follow-up gameplay was seen. Naturally, there was no way to escape the fate of returning to dust. In addition, even though there was high popularity and corresponding wealth effect expectations at the time, due to the random rush of bots, The entire tw environment has been messed up. Many users and many influencers are disdainful to participate. There are even many users who have blocked accounts that earn points every day. This point also needs to be reflected on the product side.