Reporter Tan Che
Editor: Wang Jinyu, Yue caizhou
"I will browse on the digital collection platform app for a long time every day, and I will choose to start if I find the one I like and the price is appropriate." The post-90s generation Lao Ye constantly flipped through the collections in his mobile phone and showed off his digital collections to his friends from time to time.
It only takes a little money to have a digital collection with a unique serial number, which belongs to you. Are you excited? New and fashionable concepts, new social networking, self pleasing needs... Digital collections are gradually "breaking the circle" from the niche market and becoming one of the hottest industries at present.
2021 is called the "first year of NFT", and the hot market is attracting the influx of generation Z young people.
With its unique IP value and scarcity, digital collections have created a "wealth making myth", but they have also become a gambling game. The price has changed dramatically, and many players have become the catcher. Lao Ye told the shell finance reporter of the Beijing news that he had the idea of "leaving the scene". He once collected more than 200000 yuan with his friends to buy a large number of digital collections, but he didn't expect the platform to declare bankruptcy soon.
After the rapid outbreak stage, the digital collection market is gradually cooling down, and the red line for speculation in the secondary market is gradually pushed to the front of the stage.
Digital collections on the platform.
At 11:58, Lao Ye's mobile phone alarm clock rang on time, and he nervously opened a digital collection app. Two minutes later, a long cherished digital collection will be officially launched. He doesn't want to miss the rare opportunity and must concentrate on waiting for rush buying.
In less than a minute, this digital collection with only 2000 initial copies was sold out. Although Lao Ye kept refreshing the page to try to buy, the system always reminded him that "there is no inventory temporarily".
"No way, too many people are staring, and no one wants to miss it." Unwilling, Lao ye turned his attention to the second-hand market. He hoped that some players could sell, so that he could predict the price fluctuation according to the market trend and finally decide whether to buy at a premium.
Six months ago, Lao ye came into contact with digital collections under the guidance of his friends. Now he talks with netizens in more than a dozen digital collections groups every day, sharing the latest developments and recent gains of each platform with each other.
As far away as Chongqing, post-90s Wang Yu is also constantly brushing the digital collection platform app in her mobile phone. She also hopes to find her favorite collections from it.
As a student, Wang Yu had a strong interest in cultural relics. After work, he flew to museums around the country to visit and clock in on vacation. At the end of 2021, she happened to see a digital collection of "Goujian sword, king of Yue" produced by Hubei Museum on the Internet, which was quickly attracted by the beautiful pictures and soon went into the pit.
"Although it is just a picture, because each digital collection has its own unique attribute value and number, it means that its unique characteristics are naturally particularly precious." Wang Yu told the shell finance reporter of the Beijing news that this hobby is also very "money burning". He has spent nearly 10000 yuan on buying digital collections, with individual prices ranging from more than 10 yuan to thousands of yuan. "As long as it conforms to his own interests and aesthetic style, he hopes to start."
With the scarcity, digital collections stimulate young people to enter the market. As a limited edition virtual digital commodity, it includes but is not limited to digital paintings, pictures, audio, video, 3D models and other forms. Each of these commodities is mapped with a unique serial number on a specific blockchain, which cannot be tampered with, separated, or replaced by each other.
The reporter of shell finance learned that since 2022, digital collections have been fermenting rapidly in the youth market. From the digital blind box of "Bing Dwen Dwen" to the commemorative ticket of the digital collection of dance Poetry Drama launched by "only this green", generation Z young people flocked to pursue it.
Relevant statistics show that in 2021, China sold about 4.56 million digital collections, with a total issuance value of about 150million yuan. According to the data field research platform toubao Research Institute, the scale of China's digital collection market will reach 30billion yuan in 2026.
"Similar to the previous outbreak of the blind box and fashion shoes market, the great value behind the digital collection is attracting the attention of generation Z." An NFT industry observer told reporters that digital collections were initially concentrated in niche areas such as art circles. Now, with the involvement of many IPS and platforms, the content of digital collections has become more diverse, naturally attracting young people who pursue novelty to enter this circle.
The digital collection of "havoc in heaven - somersault cloud" published on the Ibox platform.
After browsing several digital collection platform apps, Wang Yu finally found a favorite art digital collection. The transfer price of thousands of Yuan made her finally choose to give up, "the price exceeded expectations. The cost of her collection was too high, and she was reluctant to sell it at a higher price."
When entering the circle, her friend's statement that "digital collections have collection and even profit value" made her particularly curious, "is an electronic picture really so charming?"
The first order was a digital collection picture worth 15 yuan. Wang Yu put it on the Internet for resale with great interest. Soon someone contacted her, hoping to buy at the price of 400 yuan.
You can earn more than 20 times the profit by changing hands. This made Wang Yu feel the huge space of digital collections, and also made her start to study it seriously.
"At first, I didn't understand the basic value of digital collections on the premise of 'scarcity'. I simply bought what I felt was in line with my own aesthetics." Wang Yu, who likes cultural relics, always prefers such digital collections when choosing to buy. Among the digital collections he spent nearly 10000 yuan to buy, almost most of them are cultural relics and arts.
Wang Yu will always open the collection in the app to browse at any time. For her, the digital collection is undoubtedly more convenient than the physical collection. Not only does she not have to worry about the easy damage and loss of the collection, but also she can watch it anytime and anywhere. "I feel that there are a pile of my own stationery treasures hidden in my mobile phone, which makes up for the regret that I can't go to the museum during the epidemic."
There are not a few people who have similar hobbies with Wang Yu. According to public data, digital collections of cultural relics containing Chinese culture and digital collections of art such as paintings are the two major purchase preferences in the current digital collection market, accounting for 24.76% and 24.65% respectively.
While constantly enriching his digital collection, Wang Yu also began to have his own purchase standards. She is more inclined to buy digital collections launched by museums, cultural and sports bureaus and other platforms around the world, while avoiding products from small platforms. "The collections launched by the official platform, regardless of the exquisite design and workmanship or the preciseness of the collection introduction, are much better than small platforms, and they also have more collection value. Even if they cannot be traded in the future, as long as they always belong to you, they are very comfortable."
On the other hand, Wang Yu rarely buys collections with excessive premium in the secondary market. Although I have a special preference for digital collections of stationery and games and have increased the price from other players, I usually choose collections that are dozens of yuan higher than the original price.
The reporter of shell finance and economics learned that the unit price of most domestic digital collections is mostly between a few yuan and dozens of yuan, many of which are still distributed free of charge, and only a few of which are relatively high. With the outbreak of the market boom, the prices of many digital collections have been artificially inflated, often at a premium of hundreds of times.
"The popular digital collections on the market at present actually have little practical significance. They are essentially a picture." In Wang Yu's view, digital collections can't be directly converted into RMB like virtual currencies. Even if the transaction is only waiting for other players to buy. If the premium is too high, no matter collection or transaction, it will add unknown risks, and even don't rule out the possibility of "hitting" in the end. "It's OK to taste the field of digital collections. If you really want to invest a lot and 'gamble' to increase value, it's definitely not cost-effective."
With its unique IP value, scarcity, sociality and other attributes, digital collections attract young people today. And the dream of getting rich overnight, which changes hands and sells at a high price, is creating a carnival, which undoubtedly makes young people more fascinated.
During the winter vacation of 2021, Lao Ye's friends excitedly told him that he had found a "way to make money". After some understanding, Lao Ye learned that the other party originally obtained benefits by buying digital collections and then changing hands at a premium.
"At that time, I thought it would be 'stupid' for someone to spend money on online pictures, and someone would actually take over." At first, Lao Ye didn't care, but when he found that many friends around him made profits from it, he quickly became interested.
Lao Ye tried to buy Digital Collections - he spent more than 6000 yuan to buy two "Sun Xiaosheng" collections and sold them on the platform.
During that time, Lao ye would repeatedly brush the platform every day to pay attention to price fluctuations and whether anyone placed an order. The price of this collection with a unit price of more than 3000 yuan did not soar as expected, but fell to about 1000 yuan in just a week. "I felt finished at that time, and I hit my hand."
His friend suggested that he sell at a loss to stop the loss in time, but Lao Ye was unwilling: now he lost too much if he sold, and would rather continue to hang on the Internet in expectation of price rebound. This also made him taste the sweetness of "gambling", and the price of this collection soon rose back. Finally, Lao ye sold at a price of nearly 4000 yuan each. "In two weeks, he made almost 1400 yuan, which is good."
"I feel like I'm playing with my heartbeat, and I find that the 'water' inside is very deep." Lao Ye was impressed. This digital collection once rebounded to more than 6000 yuan. At that time, he considered selling it. However, some people in the group kept saying that it might rise to 10000 yuan, and even encouraged everyone to take the opportunity to enter the market again. Later, it was found that 6000 yuan was already the highest price of the collection, and then fell all the way, "I feel that someone took the opportunity to 'cut leeks', and who started at that time was basically trapped."
There are hidden risks in the digital collection market, and the high return still makes Lao Ye addicted to it. For more than half a year, he bought a digital collection worth more than 50000 yuan. During this period, he also found that the essence of many players around him is similar to his own, all out of a speculative mentality. "Few people really care about the 'scarcity' and 'IP value' characteristics of the digital collection itself, but more about 'whether it can be sold' and 'how much money to sell'. After all, what can be sold is NFT, and if it can not be sold, it is a jpg."
Good luck doesn't always care for Lao Ye. Once, he spent 15000 yuan to buy a digital collection of "complete jigsaw puzzles" from the secondary market. The final price of this collection, which he had high hopes for, fell to twoorthree yuan and has not rebounded so far.
All kinds of experiences make Lao Ye less optimistic about the digital collection brand IP, and pay more attention to the digital collection platform. He found that although high-quality IP digital collections are highly sought after in the market, there are many IPS in the market, and countless IPS appear almost every day. It is difficult to determine which one can succeed.
However, the platform also has hidden risks. Affected by the upsurge of digital collections, numerous platforms, large and small, have sprung up in China at one time, many of which are mixed.
A reporter from shell finance contacted a developer of a digital collection platform, who said that at least 50000 yuan can develop a digital collection platform with collection sales function, deliverable source code and agency qualification, "providing a one-stop solution for NFT distribution, display, acquisition and chain up", which can be launched as soon as 7 days.
Lao Ye has also been cheated. He once raised more than 200000 yuan with his friends and bought a large number of digital collections on a new platform, but he didn't expect the platform to declare bankruptcy soon. "Up to now, the money hasn't come back."
"Compared with the boom six months ago, the digital collection market is now gradually becoming calm." For nearly half a month, Lao Ye found that the number of friends playing with digital collections around him had decreased significantly. What made him sure of this judgment was that before, players often took the initiative to consult after hanging digital collections on the platform, but now few people have inquired for a long time.
Wang Yu also has a similar feeling. Many digital collections in which she works were once full of voices, and everyone would enthusiastically discuss market dynamics every day, cheering or lamenting with the fluctuation of collection prices. Now there are fewer and fewer speakers. "In the past, when you opened wechat every day, there were thousands of unread reminders in the group. Now you go in once a few days and find at most a hundred."
After the rapid outbreak stage, the digital collection market is gradually cooling down. In an interview with reporters from shell finance, many practitioners of digital collection platforms said that not only the player market was cold, many platforms also announced their shutdown.
As early as a month ago, Hang Seng Electronics' digital collection platform "Yu Zang" issued a business shutdown announcement, saying that users can choose to keep the collection but only provide viewing functions, or refund the original price.
"No matter which option, some users cannot conduct private transactions in the name of 'resale', which also means that their idea of profiting from digital collections is completely destroyed." Zhao Fei, a player who also entered the pit six months ago but now chose to leave, told reporters, "many players actually enter the game with a profit-making mentality. After buying the digital collection, they don't know what they can do except to sell it. Now take it slowly, and it's not too late to re-enter the Bureau after the value of the digital collection 'upgrades'. At least they need to be improved in terms of supervision and other aspects".
The financialization of digital collections has always been the focus of supervision. Zhao Hu, a partner of Beijing Zhongwen law firm, told shell finance reporters that "digital collections" were usually called NFT works before. NFT is a non-homogeneous token, which is highly linked to virtual currency. China's "notice on further preventing and disposing of the speculation risk of virtual currency transactions" made it clear that the business activities related to virtual currency are illegal financial activities. In order to remove the token attribute of NFT, the NFT project works were renamed "digital collection".
The policy control is becoming stricter, and the platform restricts the speculation of Digital Collections under the requirements of compliance. The reporter of shell finance and economics noted that the digital collection platform of ant group whale detection requires players to hold the digital collection for 180 days before transferring it to friends through the platform for free.
The reporter of shell finance and economics learned that the digital collection market has cooled down, but it is far from the "silent" stage considered by the outside world. In order to shine a second spring, the industry needs to explore where the future lies.
Pan Helin, CO director and researcher of the digital economy and financial innovation research center of the International Union Business School of Zhejiang University, told the reporter of shell finance that China has always been under high-pressure supervision over the speculation of digital collections. For example, draw a red line for the circulation and trading of digital collections in the secondary market. However, digital collections based on blockchain technology have the characteristics of decentralization, and the secondary market of private transactions cannot be completely prohibited.
For the chaos of domestic digital collections, it is necessary to strengthen supervision and improve legislation at the national level. NFT technology is a tool, which can be used in combination with intellectual property protection for reasonable utilization. However, it is not enough to rely solely on state regulation. Investors themselves should also be vigilant against the hype of digital collection prices and refuse to be harvested as "leeks".