How to find NFT "new blue chips"? Review of Ontology's Chinese live broadcast as a guest on Cointelegraph

Recently, the popularity of the NFT market has reached a new high with the rise of the floor prices of top projects such as BAYC and Moonbirds, attracting a large number of outsiders to join. This also leads to a general question: in the face of dazzling NFT, how should we choose?

To this end, Li Ge, Ontology Ecological Expansion Manager, was invited to participate in the TRENDS TWITTER SPACES NFT session specially held by Cointelegraph in Chinese, focusing on the theme of "BAYC and Moonbirds are popular, what will be the next NFT new blue chip", and many big names including core developers of PolyNetwork Let's be a guest in the live broadcast room together with coffee to share their views and experiences on NFT selection.

The following are some of the core points of this live broadcast.

NFT development status

At present, NFT has gradually formed a mature business system, especially like BAYC, which is similar to luxury goods, or the most successful NFT fashion brand. At the same time, based on such IP, a greater ecological expansion has been carried out, and a unique subculture has been formed. This is an attempt by Web3, or the encryption industry, and based on this attempt, it affirms the commercial value and value-added logic of NFT.

Definition of "blue chip"

First of all, a good "blue chip" should bring growth to the NFT industry, such as this Moonbirds, whose price increase comes from attracting newcomers from outside the circle.

*Source: OpenSea

Whether that NFT can become a "blue chip", in fact, there is no systematic judgment yet. From the personal point of view of the guests, the right time, place and people are still indispensable. An NFT can grow from less than 1 ETH to 5 ETH, which is affected by many factors, such as narrative.

But the current "blue chips" are more PFP-type NFTs. This year, it can be seen that 90% of the "blue chips" are 2D PFPs. This is because they are avatars, so they can be spread more easily and widely. So what's next? Maybe it will be 3D PFP.

For select NFT

Participants held different views on this issue:

Viewpoint 1: I am more willing to choose the NFT I like, rather than worrying about which one is the right one to invest in. Just kidding, even if the value of NFT returns to zero in the future, at least you can still have your favorite avatar.

Viewpoint 2: Choose the expensive one, not the right one. Because of the marginal effect, expensive or top NFT series are relatively higher in terms of value growth and security.

Exploration of DIDs

In essence, NFT being copied or stolen is actually a security issue, or a question of ownership. The DID solution that Ontology has been insisting on building just happens to solve this problem, returning data to individuals. Regarding the problem of NFT being stolen, there are roughly two reasons. One is hacking when NFT is released, and the other is that users copy and use NFT owned by others. However, there is currently no widely accepted solution to these problems in the industry, and Ontology is also actively exploring, hoping to solve NFT security problems through the DID technology that has been recognized by the W3C standard.

At the same time, regarding the NFT industry, Ontology is also actively deploying, including trying to provide other overseas technical teams with the required DID technology to help build data protection applications on the chain; it is also trying to cooperate with NFT projects, such as for well-known music NFT platforms ROCKI provides the ONT ID framework, which fundamentally solves the security problem of NFT caused by identity through the initial verification of identity.

How to find new "blue chips"

Generally speaking, the following aspects will be considered:

• The first is to look at the team background. If Web2/3 has well-known people involved in the construction, the success rate will be greatly increased;
• The second is the sense of design. As a social "currency", pleasing to the eye or comfort is necessary;
• The third is popularity. The higher the popularity, the higher the degree of spread. The star effect is very important;
• The fourth is the empowerment of NFT, such as the empowerment of gameplay, the empowerment of value, etc., will increase the value of the NFT.

*Image source: NFTGo

In addition, the larger ecological aspect can also be used as a reference. At present, the top NFT accounts for 90% of the market share, but the future NFT ecology will not be concentrated in the current small circle. For example, Solana has recently opened up with OpenSea, and there is a lot of room for appreciation in the future.

Moreover, from the perspective of narrative, market hotspots, emotions, etc. must also be considered. In these aspects, for large logarithmic players, it needs to see whether they can keep up with the market trend. Then, as an ordinary player, the participating guests are not recommended to spend energy on market games, and be careful that small losses will make big losses.

*The above views do not constitute investment advice. You can get the whole live broadcast content and more exciting views through the following link↓↓

https://twitter.com/i/spaces/1DXGyDXpoNPKM