When the NFT concept of the fire was introduced into China, due to the regulatory ban on the circulation of virtual money, the “digital collection” came into being. After established Internet giants such as Alibaba and Tencent launched their own digital collection platforms such as “Whale Detective” and “Magic Core”, bilibili, who has a more young user base, quickly entered the game this year and seemed to play in more diverse ways.
Recently, a number of bilibili users affirmed to the IT Times the investment value of bilibili’s digital collection– “Cheers!” published by bilibili on June 16. For example, according to the rarity of different attributes, a digital collection of 299 yuan can be valued up to tens of thousands of yuan in the secondary market in just a few days.
Obviously, the craze is emerging quietly. For digital collection-related issues, station B to the “IT Times” reporter responded that this aspect can not be disclosed for the time being.
“if you get it, you get it.”
“I suggest you watch more of this Beijing Opera series.” Bilibili user SpecZY, who has more than 30 digital collections, told reporters,170000 people lottery, more than 1700 collections, grab is to earn.“
Exaggerated figures are a true reflection of the popularity of bilibili’s digital collection. In fact, this began when bilibili opened the “transfer” function of the digital collection.
Up to now, bilibili has launched “Pigeon morality”, “Tiger”, “Yinhu”, “Cheers 2022”, “Ling Kite 10th Anniversary” and “Cheers! There are six series of digital collections, including Beijing Opera. The first collection, “Pigeon de”, launched on January 5, will only be released to 2021 full-time level 6 users, with the remaining 2000 reserved by the platform. On April 26th, bilibili officially announced the opening description of the “transfer” function: users who buy, receive and hold digital collections for 30 days can donate them to other real-name bilibili users free of charge.
It is worth noting that the transfer date and cooling-off period of “30 days” are undoubtedly shorter than other platforms. In order to prevent “hype”, among the two major Tibetan platforms, Tencent’s “Magic Core” does not support “transfer” so far, while Alibaba’s “Whale Detective” stipulates that users who purchase digital collections for up to 180 days can initiate transfers to other real-name users. The recipient can only transfer again after receiving the digital collection for 2 years.
After the transfer opened, many users with bilibili’s digital collection began to receive private letters of inquiry. “if someone hadn’t sent me a private letter from bilibili asking me if my avatar was for sale, I didn’t know bilibili’s digital collection could be so expensive.” Said one Weibo user.
A reporter from the IT Times found that bilibili’s digital collection has a rarity “attribute”. Attributes with a rarity rate of less than 1% will be marked as “golden”. The more attributes in the same collection, the more rare they are. And on a second-hand trading platformA “pigeon de” with “7 attributes and 6 gold” issued at a price of 0.1 yuan is enough to sell at a high price of more than 10,000 yuan..
SpecZY, which focuses on the field of NFT, began to collect large quantities of bilibili’s digital collection only after bilibili opened the “transfer” function, and now almost every series has a collection.
“now the rock bottom price of Pigeon should be 340K, and the Yinhu series with a circulation of 80,000 is the cheapest, with an average price of 200 yuan. I am currently collecting the science fiction series with the highest rarity in the cheers series, with an average price of about 40,000 yuan.” SpecZY representsI have invested a total of about 20,000 yuan so far, and two of the rare collections can now be sold for about 10,000 yuan. “according to a rough estimate, it is possible to double the investment by selling them all.”
The transaction cannot escape the “grey area”.
On the back of the boom, domestic regulators are particularly cautious about the digital collection trade.
On June 17, the founding meeting of the national digital cultural creation standard governance ecological matrix was held, and the matrix development partners jointly issued the “Digital Literary creation Standard Governance Ecological Matrix Convention”, putting forward 11 suggestions on the governance of digital cultural creation, including “prohibition of NFT business, risk monitoring and early warning of digital collections, meta-universe and other activities.”
In fact, the current flow of collections on all domestic mainstream digital Tibetan platforms depends on “transfer”, and “hype” is explicitly prohibited, and bilibili is no exception.
While announcing the function of “transfer”, the official account of “bilibili Digital Collection” once declared: “firmly oppose any form of hype, fraud, and any illegal use of digital collection”. In addition, “after hype and other bad behavior, do not rule out the adjustment of the overall transfer rules in the future.”
On the other hand, other domestic platforms are also silent about the “digital collection” trade. At the end of March, Wechat banned a number of official accounts of digital Tibetan platforms, and the “operating norms of Wechat Public platforms” recently updated to include “trading of virtual currencies and digital collections” as “illegal business practices.” On June 20, Wechat publicly explained that the update is a standardized management of hype and secondary sale of digital collections in accordance with relevant laws and regulations.
A reporter from the IT Times found that many domestic second-hand trading platforms could not find “digital collection” and related content.On a second-hand trading platform, typing “pigeon de” and “bilibili digital collection” shows no relevant search results. Only by entering “pigeon profile portrait of bilibili” can the collection be found.
Beware of liars and deceitful masters
In this context, the “over-the-counter transactions” around digital collections will inevitably enter a grey area, giving birth to roles such as liars and deceivers.
Bilibili up host “Voice Control week not Pigeon” is a 2021 “full attendance level 6”, so he received a notice when “Pigeon de” was released. Prior to this, he did not pay special attention to the field of NFT, but thought that bilibili’s first Tibetan “pigeon virtue” was quite commemorative, so he also had a lot of enthusiasm. As a programmer, he immediately thought that if he could make an App/ Mini Program to help people understand “Pigeon de”, it might help users who also like the collection.
On January 13, Voice-controlled Weekly not Pigeon took three days to develop the “Pigeon de” photo Mini Program “Pigeon City” was officially launched. This constantly improving Mini Program lists the appearance and attributes of all pigeon de avatars, which can help people directly find out the rarity of the collection.
But the follow-up is not as good as imagined. “I found that the one who benefited the most was the boss.” “Voice-controlled Zhou Bu Pigeon” told reporters, “most people only use it once to roughly see which pigeons are there, while those who use them repeatedly are actually inverted, and they are used to introduce rarity, which will be more intuitive.” After the release of the relevant video, it also attracted many strange users to ask the specific “pigeon de” buyer’s information, “I refused.”
In June this year, seeing that bilibili officially also released a relevant photo guide, “Voice Control week is not Pigeon” shut down its own Mini Program. Since it was closed for nearly three months, the overall opening time of Mini Program is not long, but according to his statistics,When it is open, the number of daily active users is 100. it can add about 20 people every day, and a total of more than 3000 people have used it.
Apart from the “inverted master”, fraud is also taking place.
In May, SpecZY suffered “fraud” from over-the-counter transactions. The seller is a bilibili user whose ID is “Forest billion Forest” and owns a “cheers series” collection.After SpecZY transferred 2000 yuan to it, the other party directly “disappeared”. After that, he found that apart from himself, there were several other users who fell into the fraud, with a total amount of more than 10,000 yuan.
“I’ve called the police, but I haven’t caught it yet.” SpecZY said that previously, transactions were basically directly transferred through Alipay and Wechat, and that he was lucky not to be deceived and “trusted netizens too much”.
An ID user named “_ Ni co” commented on SpecZY: “I also won the lottery. Check my home page for lightning protection.” And the dynamic display of this userAlthough the transaction was carried out on the second-hand trading platform, it was still cheated out of 2200 yuan.
Young people are keen on “digital collections”
Reviewing the road of bilibili’s digital collection, it is not difficult to find that “young”, “trendy”, “two-dimensional” and other features close to user identity are remarkable features.
At present, almost all bilibili digital collections can be used as user avatars with a “diamond logo” next to them. Some series of digital collections can also have special decorations, such as the “Ling Kite 10th Anniversary” digital collection released on May 13. Users can own video form personal space “Ling Kite” head pictures and exclusive station rights (exclusive gifts in the studio, on-screen comment of digital collections), and some of the collections are also used as prizes for Ling Kite’s birthday creation activities.
“bilibili has a strong second-dimensional atmosphere, and it has an advantage to do this kind of hiding.” SpecZY concluded that although the collection has appreciated, he has no plans to sell it yet.
Players born in the 1990s and post-00s account for 66% of the digital collection market, according to a report in Southern Metropolis Daily. Chen Duan, director of the Digital economy Integration and Innovation Development Center of the Central University of Finance and Economics, told reporters: “for Generation Z, the digital collection is a trendy thing and a sharp weapon for identity construction and social interaction. In addition, most of the Tibetan platforms have a lower threshold for participation. “
So far, bilibili still deserves to be the video platform with the highest proportion of young users. During the earnings call in the first quarter of 2022, bilibili announced that the average age of its users was 23.5 years old, and 86 per cent of its users were under the age of 35.
In addition, compared with the practice of other large Internet companies to “start anew”, bilibili directly uses the video community as the place for the distribution and transfer of digital collections, which also has a stronger community attribute and a larger potential user base.
The reporter observed thatBilibili on not a small number of collection transactions are linked through private messages, comments and other means, some long-term transactions in Tibet, the users hosting the auction will be regarded as big V, other users will follow the big V dynamic to understand the market. The dynamic “# topic #” function can also be used as a trading forum.
Compared with other Internet companies, bilibili’s digital collection road, play more tricks, enter the game more rapidly. On a recruitment website, bilibili offered a high salary of 25,45k for the public relations planning manager of NFT.
Bilibili’s “New Story”?
Will the digital collection be bilibili’s “new story”?
From the perspective of revenue structure, advertising and e-commerce revenues of the original main revenue business were affected by the epidemic in Shanghai, of which advertising revenue of 1.04 billion yuan has been the lowest growth rate of the business in recent years. Previously, there have been media reports that the UP main incentive, which accounts for most of the “income-sharing expenditure” in bilibili’s financial report, has also shrunk sharply in March this year, as reflected by a number of UP masters.
In the face of the pressure of the epidemic and the growth of users, the issuance of digital collections may also bring cash flow to the pressured bilibili. So far, in the digital collection issued by bilibili, the series of “Tiger” and “Cheers 2022” are 99 yuan, “Cheers!” Beijing Opera costs 299 yuan, and the 10th Anniversary of Ling Kite costs 399 yuan, and the number of releases is mostly about 2000, 000, 000.
It is worth pointing out,Prior to this, bilibili, together with the Singapore team CryptoNatty, issued a total of 10000 “Cheers UP” NFT overseas, of which the team reserved 233s and 9767 were issued to the public, each selling at a price of 0.12ewt, equivalent to 2300 yuan.
The differentiation risk of domestic Investment in Tibet
Under the hot background of meta-universe, Web3.0 and other concepts, digital collection is becoming “hot cake”. According to the statistics of the think tank, the total number of digital collections sold in China is about 4.56 million in 2021, with a total issue value of about 150 million yuan, while the market size of digital collections in China will reach 30 billion yuan in 2026.
Compared with the “non-homogeneous token” NFT based on blockchain public chain, the issuance of digital collection is based on alliance chain and private chain on domestic platform, although it also has the characteristics of “irreplaceable” and “traceability”, it has nothing to do with virtual currency transactions, and puts more emphasis on the collection value of digital creation.
It can be predicted that there are more foreseeable investment risks in domestic digital collections that do not emphasize liquidity under the supervision of “NFT financial securitization”.
“NFT and digital collections are risky speculations for me. By contrast, NFT is supported by blockchains, and non-public chains are even more frothy for me, making it impossible for me to value public chains, let alone non-public chains.” An investor who has long followed NFT told the IT Times.Maybe this bubble will not burst, maybe it will gradually become a new way of investment, maybe it will burst tomorrow, I don’t know.“
Author / IT Times reporter Cui Pengzhi