Inevitably Extinct Soul Bound NFT

Good night everyone, tonight I will talk about a kind of NFT that will definitely go extinct in the free market, soul-bound NFT.

It is inevitable to seek unforgettable memories in life, and now the emerging encrypted art market is commercializing this unforgettable memory.

Whether you collect breath-taking pictures, find a short-term home, or lose a lot of money, this adventure is deeply ingrained in your soul. But is it really so?

In this article, I will talk about the mechanism of NFT generation and the community behind it.

Let's revisit the common terms used by NFT projects.

"Every NFT is unique."

The project party did not say it, but the second sentence everyone understood was:

"And can trade."

If the unforgettable NFT can be traded, how much liquidated damage are you willing to receive to let the NFT terminate the contract with your soul? 100,000 yuan won't work, but tens of millions will do?

Is there an NFT bound to the soul?

"Each NFT is unique, but not tradable."

First look at the pictures I have attached.

On the left is generalized and common generative art, such as Artblocks or various PFP projects with so-called scarcity. As I described the sales process of PFP through an interview with Chuan Beimu yesterday, the creator will first set the scarcity (Rarity), each NFT may be different; these NFTs are bound to specific images and can be traded. Under this premise, a soft community with hot transactions came into being.

It is concluded that this wave of NFT craze can be said to be built on "image tradable", "blind box games" and "community platforms with a high degree of freedom" , and has gradually developed a variety of empowerment, lock-up, group.

The basic settings of this wave of NFT craze:
1. Images are tradable
2. Blind box game
3. A community platform with a high degree of freedom

Because of "images can be traded", randomly generated PFP and generative art markets such as Artblocks and fxhash have become popular and evergreen. With the emergence of the "Blind Box Game", you can buy lottery tickets in the primary market and win true love in the secondary market. In the process of going back and forth, arbitrageurs are born, and then scientists (consumers who write programs to buy automatically) are evolved.

Because of rarity, every NFT is born unequal, and holders dream of getting rich overnight, which is a really cheap marketing fee. Every person who gets rich is the most successful marketing case, and each has hundreds of followers. The "social platform with a high degree of freedom" is Dream Catcher, which rides these dream catchers.

If you find yourself not a consumer, it is a product.

Is there a blind box NFT outside the market mechanism? Yes, you can look to the right of the picture at this time,

On the right is another generative art. Its scarcity is soldered to the address. If you buy a super rare NFT, you can't sell it. This is your "private experience" NFT, which is why I think this type of generation Art will simply die out.

Let's call it a soul-bound NFT (Address-restricted NFT).

Jinyao Lin , a Taiwanese artist who became popular on the fxhash platform, once released Evil Bean on akaSwap. This is a soul-bound NFT. I got an ultra-rare black and white single Bean, looking at ( Cry?), because I know that this bean will always follow me, and it will disappear when I sell it, and it will be replaced with the appearance of the address of someone else's house.

akaSwap - Evil Bean <- Those who are interested can click in to see it, it should be a series of slideshows without being bound.

The NFT produced by Huang Xin for the Museum of Contemporary Art exhibition "Gai Ya" is the same concept. Each buyer will get a unique generative art, but the image is not tradable, and the image will disappear after the transaction, which is also a "private experience". (Besides, the NFT can be used as a ticket)

akaSwap - Gaia__Calculus Generative Gaia__Generative

Quoting the Ship of Theseus.

When the visual style of the NFT changes due to changing hands, is it still the same NFT?

Theoretically yes, but this is not the same boat when NFTs are understood by the public as PFPs with binding patterns.

NFT is a fascinating new media, and the market dominates the gameplay and impression of mainstream NFT, but under the market, NFT is a huge sandbox, where new things are born every day.

Can soul-bound NFTs generate communities?

This question can be slightly answered by Huang Xin's Contemporary Pavilion NFT.

Because the soul-bound NFT is only the holder who can see the unique change, the holder must share a screenshot by himself, so that others can see the unique change.

We came up with a plan of "Expedition", using everyone's unique visual experience, screenshots, and occupying the message area of the fan page of the Contemporary Pavilion. Huang Xin also offered generous rewards—the NFT works co-created by Morpho artist and Huang Xin are expensive, and only the friends who get the most likes can get them.

The group of friends who participated have branded people to like it, which has become a spectacle for fans of the contemporary museum.

Of course, this case is more interesting than profitable. This is why I said that soul-bound NFTs will become extinct in the market, because the rare experience cannot be sold. I believe that friends who have PFP in their hands will start sweating and jumping when they see this paragraph.

A friend of mine had his deceased father's manuscript stabbed on his body. It was in unrecognizable Chinese.

And he minted this as NFT at the same time.

I think that's the real soul binding.

The experience you get cannot be shared or sold.

Do you still want to hold it?