Speculation on digital collections is prevalent, and Ibox has become a new "speculation field"

Published on 1 Months ago   142 views   0 Comments  

Original title: the popularity of digital collections and the reduction of Ibox chain box into a "hype field"

Author: Kyle

In recent months, on the digital collection platform called Ibox chain box, the drama of sharp rise and fall has been staged every day. On May 17, the digital collection of Ibox platform fell across the board, and several picture digital collection series fell by more than 70%, resulting in losses for many players. One day later, these collections set off a 30% - 80% rise, and two days later, the "bear market" came again, and most digital collections of Ibox fell by 5% - 20%.

Some people compare the market situation of digital collection market to "one-day bull and bear". In the eyes of Xie Yuhui (pseudonym), a player on the Ibox platform, the C2C consignment market opened by the platform is equivalent to a "picture speculation field" full of danger and excitement. "Some pictures can be doubled several times a day, or they may fall by 80% in a day."

In order to avoid touching the regulatory red line, the digital collection platforms of Tencent "magic core" and Alibaba "whale probe" have always strictly restricted the circulation of collections, while the digital collection platforms that support users' free resale, such as Ibox, are attracting more and more speculators to enter and hide the risk of speculation.

After the sharp rise and fall of digital collections in Ibox attracted the attention of the outside world, the affiliated company Zhigui technology behind it also emerged. Public information shows that Ibox was originally incubated by the crypto asset exchange Huobi. With the withdrawal of Huobi from the Chinese Mainland market, Ibox completed the change of ownership of its actual controller in January this year. According to tianyancha, the current shareholder team of Ibox highly overlaps with the core personnel of Zhigui technology. The latter members launched the blockchain project "ink chain" in 2017 and launched the digital collection service platform "spiritual collection" as a technical support in February this year.

The rise of digital collection speculation has aroused resistance from some domestic financial associations. In April this year, China Internet Finance Association, China Banking Association and China Securities Association jointly issued an initiative on preventing NFT related financial risks, calling on member units to "not provide centralized trading, continuous listing trading, standardized contract trading and other services for NFT trading, and not set up trading places in disguised violation of regulations".

Although the initiative is not legally mandatory, it shows that the domestic financial industry has included the speculation of digital collections based on NFT in the prevention sequence of financial risks, and the sharp rise and fall of digital collections in Ibox has put speculation and speculation on the table.

Digital collection "one day cow and bear" staged on Ibox platform

Crypto asset circle once used "one day in the currency circle, one year in the world" to describe the violent fluctuation of the market. Nowadays, with the popularity of digital collections in the domestic market, more drastic market fluctuations than the currency circle are staged at all times. Some people experience the pleasure of making fast money, while others suffer heavy losses in the roller coaster of price.

The digital collection e-commerce platform called Ibox chain box is one of the main battlefields of digital collection speculation. Open the app of Ibox, including IP related digital collections such as Dahua journey to the west, the Three Kingdoms and havoc in heaven. The prices range from hundreds of yuan to 100000 yuan. After domestic users register their accounts and authenticate their real names, they can buy and sell by binding bank cards. Ibox provides a digital collection market for users to publicly trade.

In the transaction process, Ibox has two channels of "launch" and "consignment". Most digital collections in the launch market are issued by Ibox officials in conjunction with various IP copyright owners. Usually, the price is low and the quantity is limited, so they need to be snapped up. The consignment channel is a C2C secondary trading market, where users can sell or buy digital collections by themselves. During the trading process, Ibox will charge the seller a comprehensive service fee of 4.5% according to the market transaction price.

In the past few months, the Ibox consignment market has been extremely popular, and the sharp rise and fall of various digital collections have also been staged here.

Platform player Xie Yuhui told honeycomb tech that there are two main ways to play in Ibox "speculation". One is to grab the first place, and the other is to "buy pictures" in the secondary market. As long as the first collection is grabbed, it will basically have high returns. For example, the gold hoop series collection of Dahua journey to the West issued by Xi'an Film Studio has an initial price of 99 yuan, but in the secondary market, this series of collection has been fried to more than 20000 yuan.

The collection of Dahua Westward Journey Series is fried to more than 20000 yuan in Ibox

"As far as I know, most people can't get the first place, so they can only go to the consignment market." Xie Yuhui revealed that the consignment market is the main gathering place for Ibox players. Generally, which series of collections are hot will have a wave of rapid rise. With more and more platform players, it is not new for digital collections to be fired to tens of thousands of yuan.

High yields and the surge in digital collections are not the whole picture of the Ibox trading market. On the other hand, the market is full of speculative prices..

On May 17, Ibox was listed on the microblog hot search list due to the sharp decline of digital collections. On the same day, the digital collections of "Ibox cyber zodiac series" officially issued by Ibox once fell by more than 70%, the popular "havoc in heaven series" fell by more than 80%, and all kinds of digital collections on Ibox platform almost fell across the board.

The voice of "Ibox crash" spread on social media, and panic spread rapidly. Some users said that "the digital collection purchased at 2000 yuan will immediately change to 200". Others said that the digital collection purchased at more than 40000 yuan has shrunk to less than 10000 yuan in less than a day.

"At that time, the voices in the group were bipolar," Xie Yuhui described the scene in the player exchange group that day. "Some people have been shouting scams, and others are yelling to copy the bottom." He is not surprised at this state. He said that it may take a year for such a large cycle to appear in the currency circle, but it comes almost once a month in Ibox.

On May 18, digital collections such as "Ibox cyber cat and dog series", "Kung Fu cat" and "havoc in heaven series" began to rebound, with an increase of 30% to 80%. But only two days later, the whole market was "bear" again. On May 20, most digital collections in Ibox market fell, with the decline concentrated between 5% and 20%.

The sharp rise and fall of the Ibox trading market reflects a huge risk of speculation. Many players call it a "casino". One digital collection has become a betting tool, gradually deviating from the definition of "collection".

Who is the operation subject behind Ibox?

After the digital collection in Ibox hit the hot search due to the collapse, people are also curious about who is the operator behind it?

People in the currency circle heard about Ibox, mainly because it was related to the encrypted asset trading platform Huobi. In May last year, Huobi, which has not yet exited the Chinese Mainland market, officially announced that it would launch the Ibox platform. According to public reports at that time, Ibox was positioned as an NFT comprehensive service platform, incubated by Huobi x center, a newly established innovation Department of Huobi group.

Now, Ibox has changed its ownership. Tianyancha information shows that the main operator behind Ibox is Hainan linkbox Technology Co., Ltd. (hereinafter referred to as "linkbox technology"), which was established on May 20, 2021, which is close to the time when Huobi officially announced that Ibox was launched at that time.

After Ibox went online, it launched NFT related to performance stars such as Chen Xiaochun and Tao Zhe, allowing users to log in with encrypted wallet and subscribe through encrypted assets. In the follow-up operation, Ibox was concerned by the industry because of Tao Zhe's NFT infringement. According to the announcement of mengdaling culture (Beijing) Co., Ltd. related to artist Tao Zhe, the illegal use of Tao Zhe's name and portrait in Ibox NFT wechat official account to make and sell NFT is an infringement. Subsequently, Ibox offline Tao Zhe's related NFT works.

So, how did Ibox, which used NFT for encrypted asset trading at that time, evolve into a platform that can buy and sell digital collections directly through bank cards? With the official withdrawal of Huobi from the Chinese Mainland market in the second half of last year, is the current Ibox still owned by Huobi?

According to tianyancha, in January 2022, there was a major equity change in linkbox technology, the main operator of Ibox. The former shareholders Hainan new software Co., Ltd., Shenzhen jiedakang Network Technology Co., Ltd., Shanghai Huoyuan Technology Co., Ltd., Hainan Yingdong Technology Network Co., Ltd. and Hainan daruitong Network Technology Co., Ltd. all withdrew, It is 100% controlled by super star Chain Digital Technology Co., Ltd. (hereinafter referred to as "super star chain"). At this time, the legal representatives of super star chain and chain box technology are Li Wei.

According to people familiar with the matter, as Huobi completely withdrew its domestic business, Ibox platform also completed the change of actual controller after the equity change.

Tianyancha shows that in February and March this year, linkbox technology completed two equity changes successively. At present, linkbox technology is composed of five legal person shareholders and one natural person shareholder Zheng Haipeng. Among the corporate shareholders, super star chain accounts for 50%, Hainan Lianzhong Internet service partnership (Co., Ltd.) accounts for 20%, Hainan lianzang Internet partnership (Co., Ltd.) accounts for 14.5%, Shanghai fumu Technology Co., Ltd. accounts for 5.5%, and Hainan capital sky consulting management partnership (limited partnership) accounts for 5%.

Among them, the super star chain holding linkbox technology is 45% owned by Li Wei, 10% owned by Xuan Songtao, 10% owned by Chen Chang and 5% owned by Tang Ling.

According to the "ultimate beneficiary" information of Tianyan check, the ultimate beneficiaries of linkbox technology are Xuan Songtao and Li Wei, holding 29.7% and 22.5% respectively. The two are important members of Xi'an Zhigui Internet Technology Co., Ltd. (hereinafter referred to as "Zhigui technology").

Structure chart of benefit shareholders of linkbox Technology

According to public information, Xuan Songtao is the co-founder of Zhigui technology, and Chen Chang is the CTO & amp; Tang Ling, the CEO, is the founder of Zhigui technology, while Li Wei serves as the director of Zhigui digital technology (Yunnan) Co., Ltd., which is controlled by Zhigui technology.

From the perspective of equity structure, the current major shareholders of Ibox are highly overlapped with the core personnel of Zhigui technology. It is worth noting that Zhigui technology once launched the blockchain project ink chain (ink) in 2017, but the project has also become history due to the strict supervision of the encrypted asset market. In February this year, Zhigui technology also launched the digital collection service platform "spiritual collection" as a technical support. Digital collection is becoming one of the business directions of Zhigui technology.

It can be seen from the above information that Zhigui technology is closely related to Ibox, and the core personnel and business are highly overlapped. After testing the water blockchain project, Xuan Songtao and others started a new round of entrepreneurship in the field of digital collections, and the popular Ibox is one of the products. In response to media interviews, Zhigui technology disclosed that they are independent from Ibox, but there are individual intersections among shareholders.

There is a gap in the supervision of digital collection market

In fact, since NFT (non homogenization pass) became popular in the encryption circle, many domestic Internet giants have launched online digital collection platforms in the name of "digital collection". For example, Tencent launched the "magic core" platform based on Zhixin chain, Alibaba launched the "whale probe" (formerly "ant chain vermicelli) platform based on ant chain, and JD also launched the" Lingxi "digital collection platform.

Unlike Ibox, the digital collection platforms produced by these "big factories" try their best to avoid building a secondary market. The transaction link is only reflected in "users buy from the platform", and most collections are priced at a low price, ranging from 1 yuan to 100 yuan. When a collector buys a digital collection, the collection has a hash (hash value) on the corresponding blockchain, but it cannot be sold again.

In order to avoid the risk of speculation, "big factories" have strictly restricted the circulation of digital collections on sale. For example, "Jingtan" has set strict transfer conditions. Users can transfer their digital collections to Alipay real name certified friends with the permission of relevant rules after holding them for at least 180 days; At present, there is no circulation channel for digital collections on the "magic core" platform. When selling digital collections, these platforms will remind users not to hype, over-the-counter trading and fraud on digital collections.

Some insiders once told honeycomb tech that the digital collection with NFT as the carrier still belongs to the encryption asset system based on blockchain. Although NFT is distinguished from bitcoin and called non homogeneous token, it is still a token. Domestic "big manufacturers" are worried about touching the regulatory red line of digital coins, so they avoid setting up a secondary market and constantly remind users not to hype.

In contrast, the new batch of digital collection trading platforms represented by Ibox are more radical than large manufacturers. They have set up over-the-counter trading channels, set no restrictions on the price of the secondary market, and even directly extract transaction handling fees or service fees from them. Such a model provides space for speculation.

In order to curb the financial risks brought by NFT, on April 13 this year, China Internet Finance Association, China Banking Association and China Securities Association jointly issued an initiative on preventing financial risks related to NFT. The three associations said that NFT, as an innovative application of blockchain technology, shows certain potential value in enriching the digital economy model and promoting the development of cultural and creative industries, but there are also potential risks such as speculation, money laundering and illegal financial activities.

The three associations proposed to resolutely curb the tendency of NFT's financialization and securitization and strictly prevent the risk of illegal financial activities. In the statement of the initiative, the three associations put forward a number of codes of conduct, which require member units not to provide centralized trading (centralized bidding, electronic matching, anonymous trading, market makers, etc.), continuous listing trading, standardized contract trading and other services for NFT transactions, and not to set up trading places in disguised violation of regulations.

The initiative of the three associations belongs to industry norms and does not have legal attributes, but some observers believe that this is a regulatory signal released by the regulatory authorities. Whether this interpretation is excessive remains to be answered in time, but the speculation risk brought by NFT has appeared on Ibox and other platforms, and the regulatory norms for such digital assets have not been issued in China.

Under the blank of supervision, a large number of "imitation disks" of digital Tibet came one after another. Statistics show that in addition to Ibox, there are dozens of digital collection trading applications in the market, such as fantasy collection, sky, Lexiang, seven level universe, Longyu, Hassen art and Si Zang. Most of these applications are developed by unknown teams and support secondary market transactions.

Not long ago, the wechat official account named "Xiangxun" also revealed that the company asked the technical director to develop a digital collection trading app within 20 days. On the Internet, the advertisement of "developing digital collection trading app on behalf" has appeared. The development cost of a digital collection app is about hundreds of thousands of yuan. In order to save costs and quickly go online, the "digital collections" on some platforms do not have actual blockchain technical support, which means that the so-called "digital collections" hyped by users into these apps are really just pictures without any actual rights and interests. Once these apps are inaccessible, Users will face property losses.

People in the blockchain industry said that digital collections have become a tool for some teams to quickly collect money, which not only exacerbates the risk of fraud and speculation, but also affects the sound development of this emerging industry in China. In this regard, some lawyers said that as the speculation of digital collections becomes more and more popular, it is urgent for the regulatory authorities to establish a perfect regulatory system from the policy level and characterize the digital collections and digital collection transactions, so as to better prevent and combat illegal acts and reduce the risk of digital collection speculation.

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