"National brands" enter the market, and digital collections usher in great changes? 2022 yuan universe cloud summit ・ digital collection Summit Forum

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On May 26, the 2022 yuan universe cloud summit ・ digital collection Summit Forum hosted by Babbitt was officially opened.

In "national brands enter the market, digital collections usher in great changes?" The round table forum was presided over by linwenhuo, chairman of Zhejiang culture and art exchange, huxingjiang, CTO of Yuanwang network, Gaoqi, deputy chief engineer of Institute of industrial Internet and Internet of things, China Academy of information and communication, and Chenxu, vice chairman of meta50 and rotating chairman of digital rights confirmation and future assets sub forum, under the chairmanship of Ma Qianli, vice president of Babbitt, In depth exchanges were conducted around the changing situation of the domestic digital collection industry and how participants could meet the opportunities under the changing situation.

The following content is from the round table dialogue, compiled by Babbitt.

Ma Qianli:First of all, let's invite each guest to make a brief self introduction one by one, and tell you what you or your company has been doing recently related to digital collections. Let's invite President Lin to start first.

Linwenhuo:Zhejiang culture exchange has undertaken the important task of digital reform of the Publicity Department of the provincial Party committee. The culture exchange has been exploring digital copyright and digital cultural assets. Among them, we have been doing infrastructure support work for blockchain in terms of right confirmation, certificate deposit and transaction result traceability, and we will also make some favorable attempts in the future.

Gao Qi:Spark chain, the blockchain infrastructure led by the Chinese Academy of ICT, released the service network of spark chain's Digital Native asset DNA on May 20. The characteristic of this service network is to face the direction of digital collections. It will also serve as a platform for domestic digital collections to provide them with registration, authentication, query and other services of digital collections. We have reached strategic cooperation with the cultural exchange, Xinhuanet, CCTV, renmin.com and IP owner fangyachang culture since the launch.

Huxingjiang:I have two roles in Yuanwang: one is the senior vice president and CTO of the company, who is in charge of product R & D and design team. The second role is that we just set up a new business division in April, called Digital China business division. I will be responsible for the overall direction of digitalization.

Our company released the first digital virtual human on April 10, creating a new IP with CG technology. Our layout in the field of digital Tibet is mainly based on the traffic advantages and brand supply chain advantages + technical advantages accumulated by Yuanwang in the live broadcasting field. The above layout tries to combine some digital Tibet aspects with our high density.

Chen Xu:I am the Deputy Secretary General of the meta50 forum and the rotating chairman of the sub Forum on digital rights confirmation and future assets. My own meta universe think tank is called metaz. I have two identities: one is the executive chairman of the meta universe Professional Committee of the global carbon neutralization action Steering Committee, and the other is the vice chairman and chief researcher of the meta universe Professional Committee of the China Council for the promotion of international science and technology. My focus, including investment and incubation, is mainly on various digital cultural and creative products based on the bottom layer of blockchain technology, import and export, cross-border and cross chain trade, which is the key direction of infrastructure and international game rules we are now solving.

Ma Qianli:The topic of this round table is the changing situation. On the one hand, we can see the entry of the national team. On the other hand, there are more and more discussions about whether the digital collection should be licensed and whether it can be circulated in the secondary market. What major changes do you think will occur in the digital collection market in the future and what impact will it have on the industry?

Linwenhuo:2021 is the year of the outbreak of domestic digital collections. According to incomplete statistics, about 4.5 million collections were issued last year, totaling about 150million yuan. In April this year, according to our monitoring, more than 20 platforms issued 5million copies in one month, with a circulation amount of 230million. There has been an explosive growth.

There have also been some changes in the content of the product. From the classic IP of intangible cultural heritage and museums, it has gradually turned to the secondary element and fashion play, which occupy the mainstream. In March, the Association sent a letter of concern. In fact, for transactions in the secondary market, at present, there is no policy that clearly states that it can be traded in the secondary market. As far as we know, transactions in the private domain are quite active.

The digital collection fully emphasizes the scarcity, but ignores that the digital collection itself must have value to become a collection. We also believe that this value must have artistic value, cultural value and historical value. To become a collection, it must have value if it is to be traded in the secondary market.

I think digital assets are classified into digital art, digital collections, digital games, meta universe and practical NFT. At present, domestic NFTs are called digital collections, and 2000 copies of a picture are also called digital collections. It fully emphasizes the scarcity and ignores the value itself. In my opinion, there is little possibility for such products to be traded in the secondary market in the future, and the state will not allow such trading objects to be traded in the secondary market. When we talk about moving towards the secondary trading market, it also needs some standardized systems and risk control measures, including the capitalization of these digital contents, the confirmation of rights and the evaluation of the value of IP itself, including the process of transaction transformation. There is still a long way to go.

Gao Qi:The domestic digital collection market as a whole is still in the stage of publishing its own digital collections through the alliance chain by various platforms, and ordinary users cannot understand all the digital collections under their own names. We judge that it still needs a long-term development process to open up the infrastructure of the digital collection market.

Now we need an infrastructure that can operate for a long time and support the development of the entire digital collection industry. Whether it is from the cultural exchange or from a national institution such as the ICT Institute, it shows that the admission of the national platform is very helpful for the innovation atmosphere of the digital collection industry.

In addition, we will also explore the overall development model. Recently, the guiding opinions on promoting the implementation of the national cultural digitalization strategy have also been issued. It has also been mentioned that at the end of the "fourteenth five year plan" period, the infrastructure and service platform for cultural digitalization should basically be formed. In addition, it is necessary to form a three-dimensional cultural service supply system of online and offline interaction and integration, which also emphasizes the role of infrastructure and service platform.

From the perspective of industry practitioners, on the one hand, they should pay more attention to the corresponding policies and deployment of the country. Moreover, the cultural power is also an important development strategy of our whole country, and it is also the future development direction. In addition, the national team is only a part of the industry, and various roles can participate in the construction of the whole industry and system. Therefore, this chain also needs to be participated by various roles in the early stage of development.

With regard to the secondary market, it should be said that the current digital collections are not very mature to do a so-called secondary market transaction with financial attributes. On the one hand, we only consider its scarcity. For example, the number of collections issued can be seen more on different platforms, but it is a real cultural collection, and the value attribute of the collection still needs to be further discussed and improved. On the other hand, we can see that many data collection platforms do not solve the problem of trading on the platform, but OTC trading exists. Now, the development of our industry especially needs more credible institutions to integrate the whole industry chain and promote the industry to a healthier and more sustainable development.

Huxingjiang:First of all, from the policy direction, I believe that whether it is enterprise digitalization or cultural digitalization, this is an irreversible trend. The "fourteenth five year plan" clearly puts forward the strategy of implementing the digitalization of cultural industry, which is a major national strategy. This is a major trend in the whole industry chain, including culture, business forms, including cultural consumption, digital creative copyright, as well as some digital entertainment and digital live broadcasting. With the trend of digitalization, there will be a problem. Digital assets are very easy to be copied, and its copyright will be more difficult than physical copyright. Therefore, it is very urgent for us to judge how to protect digital copyright, how to confirm rights and how to conduct subsequent regulated transactions under the national strategy.

My first point is that this is something that must be done. Just now, it was mentioned that in the future, licensed operation is a must, but it may not be so fast. The regulatory policy will also be gradually introduced with the maturity of the market and the acceptance of everyone, which may allow the market to grow savagely for a period of time.

Second, with regard to the secondary market, I personally judge that there should be no corresponding and perfect policies for the secondary market this year. Because the secondary market will have financial attributes, it may be too cold or over reactive. At present, there are not many mature works with real digital value or creative value in the market. Basically, the customer orders sold in China are low, with experience as the main factor. Many collectors or players spend tens of dollars or hundreds of dollars to go through the process in the spirit of experience. It is not clear what Web3, NFT or digital collections are. If the value behind itself is not great, once the secondary level is released, it will lead to overheated speculation.

Third, at present, it is only scarce and does not emphasize the practical application value. What can you do with this collection and what is the significance? At present, we also see some trends. We emphasize the use scenarios, including some platforms and apps that will launch immersive experiences in the meta universe, including some games and the anchoring of objects inside. Here are all answers to the questions about the use value of collections. This is a big trend. Its scenes, more and more scenes and the direction of the combination of virtual and real will come out.

Finally, in my opinion, the future trend is to develop towards high-quality IP and high-quality content. In the front, there are more IP or content that we are familiar with, or some theme sales. We can experience it at a relatively low price. If we want to go far in the future, it must have collection value, or the real value given to the collection itself. I judge that scarce IPS will be vied for by major platforms and institutions in the future. There will be more and more content behind these IPS, and things around the content will come out.

Chen Xu:I think further development is needed before the "outbreak". To sum up, there are four conditions: strictly controlling risks, highlighting value, enriching experience and promoting consumption.

The first is to strictly control risks. The market development of digital collections or NFT related cultural and creative products in our country is very different from that abroad. Overseas is dominated by barbaric growth, which is determined by their judicial mechanism and market mechanism. Of course, they will also supervise. They will change it slowly after the market is chaotic. In our country, the rules are the first, and the risks in this part can be fully controlled, including the fact that we now see that the non opening of secondary transactions is obviously the control of risks.

Second, highlight value. Value is a consensus, which has been tested by the market. On the one hand, we should judge artists professionally. On the other hand, there is a long-term market test, where the word "long-term" is indispensable. We didn't have NFT before. When there was no such digital collection market, the frequency of transactions was very low. A lot of massive works also need to pass the long-term market test, slowly enter everyone's vision, and become the object of market pursuit. Why so many artists are sought after is the result of long-term market tests and historical tests. Now, if we want to build a high-frequency trading market to carry it, in fact, how to realize this long-term test, how to carry it, what other things besides professional knowledge can help us judge the value here, how to grasp it, and whether it needs to be reviewed need to be considered. In this part, we have some experience in Internet supervision that we can learn from. But it can not be completely copied and used in Web3.0 and the digital collection market. I think the competent authorities are observing and studying it.

Third, enrich the experience. The rich experience is not just an experience in XR, virtual reality, augmented reality and hybrid reality, as everyone imagined. Under the "feeding" of the rapid growth of Web2.0, Chinese users are more picky than users in any region in the world. In this case, how can we enrich the experience to make people willing to experience, collect and use digital collections is a huge topic, and it is also the key direction of innovation of Chinese enterprises in this field.

Fourth, promote consumption. When we talk about trading in the secondary market, we are talking about promoting consumption. The first three conditions have not been completed. I don't think we will open the last condition. The first three items are the key work. The first one is more confident, because the state can control, so the second and third are important issues, that is, how to highlight the value and what kind of experience to enrich. At the same time, I would like to add that because of our different development paths, the explosive products that may appear in China may have killer applications in this market, which is likely to be different from those abroad. Overseas, we see that the trading platform must be the top one. No matter the NFT, the digital collection or the small pictures of the boring ape when it was just born, it does not have any meta universe or game design, but it can be hyped. Speculation itself has become a kind of demand with Ponzi structure provided by itself, which is very obvious. However, it is not allowed to do so in China, which means that we must have a real and rich experience in the Internet scene to form a real killer application, which is what everyone is willing to use. The popular product we were born and expected may not be a pure trading platform, but may be a product with richer experience that may appear in various environments such as social networking and e-commerce, This is what we must grasp and pay attention to in the changing situation.

Ma Qianli:What is the future strategic plan? Is there any difference with other platforms?

Linwenhuo:As a kind of financial institution and a platform with state-owned attributes, the Cultural Exchange bears its own social mission and functions.

From the perspective of copyright itself, it does have three problems: it is difficult to confirm the right of copyright, to protect it, and to transform it. Since 2021, Zhejiang culture and culture exchange has made full life cycle management on digital copyright, and we have positioned ourselves as "a platform of one platform".

First of all, we need to be compliant, so the "platform of the platform" revolves around three aspects: orderly source of digital assets, standardized operation and clear circulation.

We make full use of the functions of blockchain, artificial intelligence and big data, and have a complete and relatively advanced set of right confirmation tools to achieve orderly source and clear circulation from the aspects of IP right confirmation, blockchain certificate storage, filing management of entrepreneurship platform and product registration.

As a kind of financial institution, first of all, its transactions should have very clear codes of conduct, trading rules and systems that comply with the supervision. Including transaction, payment and settlement should be very safe, reliable and controllable.

We hope to have different distribution methods and different scenario application methods for different IP addresses. We don't call them digital collections.

Ma Qianli:Why do you choose the spark ・ catenary DNA network service independently developed by the ICT Institute? How to view the circulation between different digital platforms?

Gao Qi:Spark ・ chain network is also the platform of the platform, but our platform and the platform of the cultural exchange have two different meanings. One is more platforms for the cultural industry. We are more like infrastructure platforms for technology. Therefore, spark chain is also a platform for the platform. The cooperation between Xinghuo ・ chain network of the Institute of ICT and the cultural exchange actually constitutes two platforms, the resultant force of platform + platform.

Now there are many low-level chains in the market. Why do you choose spark chain network? First of all, spark ・ chain network itself is a platform, and now more chains in the market are platforms. Our cooperation with the current alliance chain is not contradictory. Spark ・ chain network is a trusted distributed and highly stable digital asset base with blockchain technology as the core. Spark ・ catenary DNA service network has the functions of digital asset registration, right confirmation, certification, transaction and circulation, asset management, brand operation, technical service, monitoring and supervision. The focus of our work is to build a new expressway for infrastructure construction, which can provide more and more convenient application service platforms for the industry, so that everyone can rest assured and develop their own blockchain applications and industries in a stable and efficient manner at a low cost, so as to solve the interconnection problems that everyone cares about.

In the direction of digital collections, our services are not competitive with existing blockchain digital collection platforms in China. We hope to lay a foundation on which we can expand our desired partners with more self-oriented application scenarios. With the support of spark ・ chain network, the application of digital collections in the future can produce killer applications with important characteristics faster.

With regard to the flow between platforms, spark ・ chain network itself is a platform of a platform. It is easier to realize isomorphic or heterogeneous blockchain interworking on this infrastructure. And from the perspective of spark chain, this is also something that should be done, because it is more neutral and there will be no interest related issues, so spark chain is a unified choice for everyone in this matter.

In addition, Xinghuo has been the infrastructure with the national mission from the very beginning. From the bottom design of Xinghuo ・ chain network, we have integrated the basic penetrating regulatory performance into it. In the future, with the overall development of the data collection industry and more platforms involved, the core work of spark ・ chain network in the future is to make the flow between platforms supervised, penetrable and controllable.

Ma Qianli:Yuanwang's development strategy and playing experience in digital collections.

Huxingjiang:Yuanwang network is a new e-commerce enterprise listed on the A-share main board with live broadcasting as the core. We have signed more than 100 stars and anchor talents, including Wang Zulan, Cecilia Cheung and Jia Nailiang, and more than 20000 domestic and foreign brands have settled in our supply chain system.

The company released a digital strategy on April 10, and we will transform to digital and technology-based direction. Under this strategy, we are still trying to open the digital collection sector by combining our own star resource advantages, supply chain advantages and technology R & D advantages.

In the field of digital Tibet, our overall idea is that the most important thing is compliance. We certainly can't do what the national policy requires. We can't do it without making it clear whether we can do it. Therefore, the secondary market will never be open, and we don't encourage some speculation. What we need to do is basically a digital collection platform that combines NFT with fan economy and physical objects. The overall positioning is still a trend culture and virtual reality space. Here, we need to create a new e-commerce format on Web3.0 that can do social networking, entertainment, digital collection distribution and physical transactions. Its essence is still an e-commerce.

There will be a virtual city with a sense of future and science and technology, including some museums, gymnasiums, concert halls and other buildings, which rely on the IP traffic of distant stars as a source, and stars will settle in the whole virtual space or virtual city. These fans behind the stars can buy collections in the fashion community and exchange for limited edition real objects, which are limited hand-made, trendy games and costumes of the stars and their surrounding areas. These trendy games and costumes will also be integrated with sports elements, which we call "idol non-homogeneous ownership".

It probably has the following five characteristics: first, blockchain technology is used for traceability. All stars are limited in their surroundings, and some NFC technologies are used to realize the traceability of physical objects as a whole; Second, there will be a unique star or big IP content hosting platform, including some fashion t-shows, including star virtual concerts, and unique content hosted on this platform; Third, there will be a fan trend community task system and a growth driven honor system here; Fourth, it is interactive. What else can he do when he buys a collection and exchanges it for real objects? We hope it will be a long-term interaction. For example, there will be a lightweight game for him. He will wear the product. I encourage him to do some sports. For example, a chip like sensor will give him a physical object. It will monitor the duration of your sports and the consumption of sports, and encourage these fans to punch in some sports. After the exercise, his energy will increase in value and score system in the collection. He can upgrade or exchange some physical and virtual goods here after he gets the score; Fifth, the above will build a member point system through blockchain technology, all activities in the space will be carried on the chain, and the settlement on the chain will be completed through blockchain.

Yuanwang's judgment on this matter is that we believe that a good digital collection must have a classic IP, or an IP with long-term value. Second, after buying these collections, they must have practical value, experience value and long-term value. We have also established a strategic partnership with top international IP licensing companies and companies engaged in 3D game interaction. You can look forward to the first release of this platform in June.

Ma Qianli:What is the role of digital collections in the meta universe?

Chen Xu:In fact, in the meta universe, I think the concept of digital collections needs to be expanded. Digital collection is not a very standard concept, so I am worried about its inherent problem, the word "Tibet". Because we have also released a lot of digital collections, but the main PR or marketing concepts for us are all based on collections.

In fact, collections are just a very small category of digital assets carried by such a non-homogeneous token as NFT. And since it is a collection, in fact, it will not and should not be frequently exchanged, traded or changed hands. Even if we do not consider the financial issue, in fact, if it is a scarce collection, how can you easily give it to your next family? You will be more expected to stay in your hands and wait until the value increases more. Even if we solve the problem of value, even if we avoid the problem of financial risk, the problem of collection will standardize the circulation of assets for our entire digital NFT, resulting in mutual conflicts. Therefore, a large number of digital assets calibrated by NFT contracts are actually used.

We talked about what other applications besides collections can be applied to our Internet, especially in the meta universe. All these digital cultural and creative products or digital commodity assets that can be calibrated, in fact, have the right and ability to be traded in the meta universe because of the digital confirmation of rights, and will also become a part of the use or even wealth that consumers and users will consciously accumulate in the future.

In this sense, I think that only by expanding the concept of digital collections, we can use them in various application scenarios, such as the game, the education, e-commerce, social networking, live broadcast and fan economy of the meta universe, can we generate a big explosion of asset classes in the whole meta universe. You can recall the whole impact on the national economy of China's real estate from the complete leasing market without private property rights to the opening of private property rights by the state. I believe that in the long run, looking back, the expansion of the concept of digital collections is no less than this explosive point.

Ma Qianli:Leave a brocade bag for entrepreneurs in the field of Digital Collections

Linwenhuo:One word, value leading.

Gao Qi:I think this brocade bag should be "cultural self-confidence". The core is that digital collections must have a lot of room for development in the development of China's unique national conditions. Therefore, when doing this, we can maintain cultural self-confidence and do more technical innovation and exploration.

Huxingjiang:Personally, I think it is meaningful to follow the national trend and make innovations within the scope allowed by the state. For enterprises, under the premise of innovation, we should pay more attention to stability, and make some breakthroughs in the new operation mode and playing method. Under the premise of compliance, we believe that the invariance will not last for a long time only through simple sales. Under the premise of compliance, we should make more breakthroughs in more innovation scenarios and application values.

Chen Xu:If you are an entrepreneur, you need to find your own starting point in the huge opportunities and complex environment. I think the opportunity is huge, but the environment is extremely complex. Various environments will have a huge impact on this matter. This is a great test of how entrepreneurs can grasp the pain points and sweet points of entrepreneurial needs. I believe that "lying flat" is definitely not the right attitude to deal with such a huge opportunity. Instead, we should go deep into the market, try to innovate and find opportunities. I believe everyone can find their own good entrepreneurial territory.

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