Binance Block 101:Exclusive talk with Cocos-BCX on Binance Smart Chain NFT Game Series
On April 13th, 2021, Zora, CM of the Binance Taiwan community, had a conversation with Cocos-BCX global technical contributor Reed. In the live broadcast, Reed shared the combination of NFT and game, and introduced the strategic layout of the Cocos project ecology in the NFT field.
Reed believes that NFT is indivisible, and NFT has a strong descriptive ability, which can be mapped to more non-Fiat currency assets in the traditional world and has a wider range of applications. In the future, NFT may be a direction worth exploring in the field of art, DeFi, and the open world of metaverse.
The combination of NFT and games can solve the circulation of assets and equipment, and establish a frictionless NFT market to reduce gas fees. Cocos has built a full stack of ecology on the NFT game track, with many gameplay methods such as mining, blind box, airdrop, etc., and provides users with a tool to create their own game world on the Binance Smart Chain, which gathers more ecological projects and traffic.
Binance Zora: Welcome to today’s live broadcast.Recently, we heard a lot of discussions in the community. I don’t know if the recent trendy DeFi issues can be combined with NFT and games, so today we specially invited Reed, a global technical contributor of Cocos-BCX, to explain more on the combination of games, NFT and DeFi, firstly, welcome Reed to greet everyone.
Reed: Hello, everyone. I am Reed from Cocos-BCX. I have been in the field of Internet and game research and development for many years. The most famous one is Fishing Joy 3,which was probably the most popular mobile game launched in 2014.
In 2017, after my first entrepreneurial failure, there was nothing to do. So I started to look at the relevant knowledge of the blockchain industry. Because I learned about the network myself, I quickly found it interesting to watch things like Bitcoin and Ethereum. I felt that this thing was very attractive, so I started to work in this area.
Since 2017, many related things have been done, including the development of wallets, DApps, and blockchain games. I started to enter DeFi mining in August last year. The first project was YFII. I was there since the initial mine to enter YFII. After mining for a few days, 5,000 dollars that I put in and immediately turned to extra hundreds of dollars profit. At that time, we just came from the bear market. I was very shocked for how much I earned from it. I also invited my friends in the group to have a good meal.
Since this wave of DeFi craze is very exciting, I started to research every day and found that the changes in the entire industry are completely different. Unlike in 2017, some teams can publish a white paper with a few people. Now everyone really depends on the product to speak. Back then, your project may have to really capture value before you can do it. So overall, I feel that the entire industry is changing very quickly, even though every time the market structure has undergone profound changes, but the entire industry is still very interesting.
Binance Zora: At that time, the YFII was the initial mine?
Reed: Yes, definitely the initial mine. I was very happy at the time. I was in one of the earliest groups of YFII. They rushed to invite me for the group at night. Why did I rush in at this time? At the beginning, I looked at the big and stable coin , but I was quite panic because I didn’t know how to mine at first. Later, I am more skilled in mining now, which is still very interesting.
Binance Zora: Actually, the entire DeFi liquidity mining started in June last year. From Compound to YFI until now, the community has been discussing whether the so-called next hot spot is NFT. The same is that although many of the friends who are currently watching the live broadcast have already understood what NFT is, but I also want to ask Reed to help everyone with your point of view. What is NFT?
Reed: NFT is a non-fungible token, which is a non-fungible token. Non-fungible corresponds to a homogenized FT token. FT tokens go to Binance, and tokens traded on various exchanges are homogenous tokens.
Non-homogeneous tokens are easy to understand from the traditional perspective. We often say that the Internet is the transmission of information, and the blockchain is the transmission of value. What exactly is the so-called value transmission? Starting from Bitcoin and Ethereum, the most important thing for value transfer is to transfer FT tokens. Mapped to the traditional world, FT is equivalent to the legal currency we use, and the legal currency such as RMB and US dollars is an FT thing.
In fact, in the real world, in addition to legal currency assets, we have many other assets, such as our real estate, cars, artworks, and luxury goods. These are all assets. We invented how this asset is transmitted on the blockchain. NFT is a non-homogeneous asset. There are two core differences from FT.
The first one is that NFT is indivisible. One dollar of FT can be divided into several cents. But for NFT, you said that you can disassemble a car into several, disassemble the wheels, engine, and glass, then it will be useless, so its inseparability is very important.
The second description ability, an FT you have tokens, the only description of how many tokens you have, its poor FT protocol description ability is just a number. NFT’s descriptive ability is very strong. For example, when we play Ethercat, it has many attributes, as well as the offensive and defensive attributes of the game. Many things are described, so NFT’s descriptive ability is very strong. And as you can see, in addition to legal currency, mapping the traditional world is more of an illegal currency asset, so its application range will be more extensive, and it is a very wide range of things.
So we can see that the entire NFT has been paid attention to for the first time. If the Ethercat at the end of 2017, the wave of people discovered that NFT can be played in this way, and also found that in addition to ERC20, there is also a protocol such as ERC721 as the NFT standard. Everyone discovered that NFT ethernet cats are inherently game props. Suddenly, they discovered that blockchain is combined with games in this way.
Because it naturally describes the props in the game, there are various attributes in the game that can be described by NFT. For this reason, the launch of our Cocos-BCX project is also affected by Ethercat. You have found that there is a lot between the blockchain and the game. Strong bonding point, so we initiated this project.
Of course, after Ether Cat, NFT’s recent exit from the circle relies on two things. The first is the NBA Top Shot project. Although this project is an NFT project, its experience is similar to that of a centralized project, and the experience is very smooth. The star card can be obtained digitally, and the transaction volume is very good in all aspects, attracting a lot of attention from everyone. You can see that Flow has increased hundreds of times and made a lot of money.
What’s the use of a chain issued by the team of Ethercat? At first, I was not optimistic about flow, but it made an explosive application, so its overall flow was pushed very high.
The second one is the auction of Beeple art. The auction cost more than 60 million US dollars. It attracted traditional art people or many people in the entertainment circle. I talked with other friends and many entertainment companies discussed NFT matters. .
Money is always the best attraction. It’s not a small amount of money that’s equivalent to hundreds of millions of yuan. It’s also wealth and freedom in Beijing. Basically, a lot of people pay attention to it. We also make art friends with traditions. Talk, they are all very interested, this attraction is too strong.
Of course, in addition to these aspects, NFT can actually do more interesting things. We have also tried ticketing. We applied for China Joy and the annual China Game Show for them to apply for some NFT tickets with the Cocos-BCX chain.
In fact, in addition to this kind of NFT, my sister just mentioned the concept of GameFi, the combination of games and DeFi, and the application of NFT in the DeFi field is increasing. You can see the V3 version of Uniswap. LP is no longer the FT of ERC20. The token has become the token of NFT, and Andre issued an insurance project that year, and the insurance policy itself is the NFT.
We have recently seen more and more applications of NFT in the DeFi field, especially insurance, which I think is very suitable for NFT, because insurance itself is an NFT or this kind of thing is a contractual thing. It is very suitable for the insurance policy to become an NFT, it is easy to circulate, and it is a very valuable thing in the future. The entire industry is more and more aware of its value in what NFT can do, and to a large extent it has expanded into application scenarios.
Binance Zora: Thank you Reed for the NFT just introduced, and even talking about the hot NFT that everyone is discussing now. If you are paying attention to some news and information, you can also see it. For me, I think NFT is a very fast way to help the currency circle. We can see that no matter what it is, some actresses in action movies have also been released. .
Even many celebrities and artists have released their own NFTs. In fact, they also released their own NFTs at McDonald’s in France a few days ago. I think it’s particularly interesting. They put their burgers, chicken nuggets and fries, every celebrity The products have all been released into their own NFTs. They said that they are going to do a community activity. Only when you are the winner of this community activity can you get such an NFT.
Especially today’s more interesting news. The New York Stock Exchange also issued their NFT. I think this is definitely a big event out of the circle. The NFT issued by them will create 6 commemorative NFT tokens in their IPO company. I think for this,it is definitely out of the circle, and even a big news that really started this NFT hot spot. I think NFT is definitely a very important bridge for the small circles in the original currency circle to expand into the mainstream world.
I just saw a message and someone asked me, is there a high threshold for these outsiders to issue NFTs? There may be a certain threshold for use. Just like other DeFi projects before, they also provide a very simple tool that allows you to issue NFTs with one click. In fact, it is not very difficult at a certain level, but I think This thing will definitely be a very hot spot in the future.
Then again, as I mentioned before, I personally very much hope that all the virtual treasure weapons in the game will be NFTized, because in addition to how rare these rare weapons you are holding, I think there are more A great effect, I can use this amazing treasure in both Game A and Game B at the same time.
At that time, I said that I really like the movie “Ready Player One”. It is a movie that brings NFT to the fullest. If you haven’t seen this movie yet, it’s a good idea to recommend this movie to know more about it. .
Going back to the game’s NFT and DeFi, I would like to ask Reed to help us tell us about it. In addition to the equipment used in the game, what are the related combinations of NFT with the game?
Reed: The core of the game is actually the equipment. It solves a very important thing. Everyone often plays games. The circulation of domestic equipment generally uses websites. There is the largest asset circulation platform for games in China. Its experience is very poor. The process, if you have ever traded, you will know that it is very troublesome.
For example, we go to “Jian Xia Qing Yuan” to trade a piece of equipment, everyone agreed to meet in a certain place, “boom” I throw it on the ground, and then pick it up, I will deal with it face to face, transfer the money on the website, the entire transaction cost It’s huge. So using NFT is actually a good way to build this frictionless market. We have always talked about the frictionless NFT market. We hit the token and exchanged the ownership of the NFT immediately. This is a very good thing.
The equipment you just mentioned can be played in Game A, and it can also be played in Game B. We have been mentioning this concept. We call props crossing. It is used in this game and can also be used in another game, such as character images. Special IP character image, very good thing.
There is also a separation of the right to use and ownership in the game. You should have heard of “Legend”. A dragon-slaying knife is very expensive. I may not be able to buy it. If the lady has one, you can rent it to me for a few days or a week. After it is used up, it is yours, the ownership is yours, but the use right is mine. This kind of thing has a lot of application space for NFT in the game.
Of course, when it comes to the game, let’s diverge. The concept of “Top Player” is relatively popular now. Metaverse is the metaverse. This thing is very popular in the current game circle. Because of the gaming industry for so many years, everyone has gone from PC games to mobile games. Mobile games have been in operation for more than ten years since 2010. There are also various types of games. In fact, there is no new concept. Recently, the concept of meta universe in the gaming circle is very different. Fire.
A few days ago, there was a company Core Game. Its game raised about 100 million U.S. dollars. It allows ordinary players or gamers to make a cool game without writing a single line of code. I also downloaded it and played it. It’s really good. There are many different worlds you can wear and play, and they all use the same identity. All the games in it are created by other players. I feel that it will be even better if you add NFT circulation. Well, I think there must be very large application scenarios for NFT in the field of games.
Binance Zora: I think there is another particularly interesting talk about GameFi, games and DeFi. If these props and treasures in your game are at the same time, it has this rare value in itself, and it can also be used as a possible NFT mining at the same time. This thing can continue to mine to generate more revenue, this thing is definitely a more valuable thing.
Reed: Yes. NFT mining was first initiated by the DEGO project. The first is NFT blind box opening. It is actually an operating strategy. The Twitter that you follow it has a whitelist mechanism to open the blind box. Opening the blind box will randomly open a shovel. The shovel will eventually build an NFT mine. You can dig it. Throw that shovel in and you can dig a lot of mines.
Later, we at Cocos also borrowed such a gameplay called the New Year’s Collection of Five Fortunes. Just like the Taobao Collection of Five Fortunes, we made some NFT pictures of blessings. Everyone opened blind boxes at random. Of course, there are some good blessings that are very valuable. , Now it should be worth one or two thousand dollars at that time.
This kind of entertainment combined with this kind of thing is indeed very popular. Our data at the time was very good. At that time, our entire community rose by tens of thousands, and Twitter and Telegram both rose by tens of thousands. There must be more and more of this kind of gameplay. There are friends to the fragments, and the blind box fragments are still very interesting superimposed, and many players can see it.
Like Pancake made a DApps, perfected your information to send you an NFT, NFT can also be played against, I did a lot of interesting gameplay, I think it is worth trying.
Binance Zora: Although there seems to be a lack of native NFT games in the industry, with different NFT gameplay, no matter what mining or blind box it is, it can be mortgaged to generate more revenue and so on. In fact, We look forward to a more prosperous state after the merger of the NFT market and the game in the future. Going back to Cocos-BCX, I actually want to ask Reed to introduce the Cocos-BCX project. According to my own understanding, the Cocos project wants to be more closely integrated with the game?
Reed: Yes. As I mentioned above, in fact, the launch of our project was affected by CryptoKitties, because after the game came out, we started to establish the Cocos project. There are game engines in the entire team. We have a Cocos game engine in China. It is used more globally, and basically many people know it in the game industry. Some of us who are involved in the blockchain and financial industry set up a team to initiate this project.
Our team has always focused on research and development, and the community often says that we only focus on research and development and do not do other things. Most of our team are technicians. After several rounds of research and development from the end of 2017 to now, we first made the Cocos public chain, which has a very complete ecology, including editors, wallets, browsers, etc., which are relatively complete and can support many games.
We support ten games. At that time, we also made two ecological developments in DeFi. It was not bad. We made a Cocoswap similar to DApp. In fact, just like Uniswap V3, our NFT can also be decomposed. And synthesis, you can disassemble and synthesize can be very flexible, still very creative.
We think about one thing in turn. After the entire Ethereum DeFi ecosystem has prospered, we think that we may not have much value in building a game chain, so we will move our existing game chain to the Ethereum ecology. , Because the entire Ethereum ecosystem includes BSC, Heco, and Layer2. Everyone is doing things around this ecosystem. We basically abandon the previous public chain and move to Ethereum as a whole.
The first thing we tried was BSC. We did integration on BSC and made our new products on BSC, such as mining, blind box, and airdrop. We are still going to the whole Layer 2 later, we have our own Layer 2 network to do research and development in this area, basically it is still like this.
Overall, for so many years, the community has done a good job. Our community covers the United States, Russia, and many overseas communities in France.
Binance Zora: In fact, Reed just mentioned about Cocos going to Layer 2 to do this. Can we imagine that Cocos will be on the BSC today on the ether, and in the future it will cross to other different public chains to do Layer 2, hoping to bring them together , So that these NFTs based on Cocos can flow freely on Layer 2?
Reed: Yes, you have a good idea. We basically planned it this way.
Binance Zora: What are the short-term milestones and long-term layout of Cocos in the future? At present, we are looking to the direction of games, DeFi, and NFT integration.
Reed: Everyone said that Layer2, BSC itself is also a kind of Layer2 in a sense, although it is a side chain, it is still good to use at present. We first came to BSC, and later we will make our own Layer2. We have to choose a suitable game application scenario in rollup. Based on our own Layer2, our core game content, we find some good game teams or say We do something like this at the core of some popular content.
We may also do a game resource trading thing. Everyone has played Core Game meta-universe and found that the resources of the game itself are very important things. There are many excellent 3D designers design characters in the world. Image buildings and even various models are put on, these games can be used as the basic things in the open world. We can make these things a tool that allows users to easily create their own games and their own worlds.
Binance Zora: Okay. In fact, it sounds really exciting. I am also looking forward to Cocos developing its own game content. I think it must be more in line with how to expand NFT and DeFi combined game applications.
Then back to the public chain selection. Everyone has been saying that the fee of ether is expensive and the transaction speed is slow. This is an old problem. In addition to the silky transaction experience and very low fee, the Binance Smart Chain has also been reduced recently. The specification changes from 10 to 5, and the handling fee on BSC will be more cost-effective in the future. What was the original intention of Cocos-BCX to choose Binance Smart Chain for the first time?
Reed: First of all, the Binance Smart Chain. It was relatively early when we went, but we can see that Binance has invested a lot of resources on it. With Binance’s energy, more ecological projects and traffic can be gathered, because it is very simple. Information, we often followed CZ’s Twitter at that time and found that he was posting BSC data from time to time.
I think BSC is very important to CZ or the entire Binance system. It is a very important track or module. We definitely think it’s better to go here first. We are the investment of Binance Labs. At that time, after the entire BSC came out , The whole industry is still very surprised, and found that it can still be done like this. To make a chain, all the things of Ethereum can be used before, Metamask can be used, and Remix can be used for all changes.
BSC is very silky and friendly to developers, because we don’t need to learn a new thing, for example, we have done EOS stuff, we have to learn EOS C++ contract, we ran to Carriage, learn Rust, whether to write in ink after all What is the contract, it needs a lot of switching. We feel that we are very familiar with the Ethereum ecosystem. We have been doing Ethereum things very early, and we can adapt quickly, and our technical implementation will also switch quickly.
Binance is also very fond of it. We must rush over to do something. Now everyone sees that when we came to BSC, the utilization rate of a block was about 5%, which is still a volume of 3,000 gas, and now it has become 4 Thousands of gas are basically 99% filled. The development is very rapid, breaking through the imagination of the entire industry, and there are many projects. Any project can cost one billion dollars in TVL. I think the development is very fast.
Binance Zora: Thank you very much Reed for your praise of BSC. Going back to the question I prepared today, it is actually the last one. I would like to ask the guests to help us share it. Probably in the near future, whether it is three months or six months later, do you expect the development of the entire industry, do you expect NFT or gameFI will How far it goes, what expectations are of them, for some people is a thing of the wealth code.
Reed: It’s definitely hard to say which project will win, but we can see the out of the circle of NFT, the core thing of NFT. It has a strong ability to go out of circle and can connect offline things well because of its strong descriptive ability. . So for NFT, I think the direction that can be seen in the future has made great progress.
The first one, everyone sees artwork. With the wealth demonstration effect of more than 60 million dollars, the wealth demonstration effect is the strongest. There will definitely be more artists joining in, making the original digital artwork circulate in the way of NFT. Auction, this is beyond doubt. NFT’s advantages in art auctions are too great. Traditional artworks include orderly collection, transportation or inheritance. Artworks pay attention to orderly inheritance. In NFT, NFT’s circle records are inherently inherited in an orderly manner, and they are on the chain. There must be a lot of development in this piece in the field of art.
The second is the combination of NFT and DeFi. As you can see from DeFi, I also mentioned the use of UniswapV3 and insurance policies. We heard that DEGO will also do some new NFT and financial experiments. I think now More and more DeFi teams are starting to think about how to use NFT. You can see all the innovations in DeFi.
In fact, DeFi innovation is in core computing and invented a token on a certain critical path, including Uniswap’s LP token, including borrowing and lending C token. When inventing a token, you will find that the whole path is opened up, creating completely different things. Later, in a certain way, did you invent a thing of NFT in a certain part of DeFi to do it?
It is very possible that there will be many new gameplays. In a large and complex system like the blockchain, developers and teams around the world are contributing their strength and wisdom, and it is easy to burst out good things or Products, the combination of NFT and DeFi is worth looking forward to.
The third one, I think, is very related to our game field, which is the meta universe. The concept of metaverse actually has a team that wrote a very long article a while ago, about ten or twenty thousand words, what happens when Crpyto meets Metaverse, roughly this title. Because Metaverse is inherently supposed to be combined with the direction of blockchain, Metaverse pays attention to several points.
The first point, its open world, it must be an open world. Second, this kind of props circulation is also very worthwhile. Of course, Metaverse also mentions an immersive experience that is currently impossible to achieve. We now use more things like mobile phones and computers, and mobile phones take up a lot of our time. I have seen relevant reports and I am very optimistic. In the next few years, 3 or 4 years from now, mobile phones will not be the electronic products you use for a long time.
What is that? It’s VR glasses or XR glasses or MR glasses. It’s mixed reality glasses. Everyone wears glasses to go out, do something, and experience a game with glasses. It’s a very immersive thing. For example, I have used a pair of glasses. Just sit there with a pair of glasses, and a 60-inch TV appears in front of you to watch a movie, or wear a pair of glasses to immediately model the space for you to play games. This may be achieved in the future with the development of 5G and the final equipment.
With the arrival of the immersive experience, coupled with the open world, and the machine system in the blockchain, the entire NFT application in the meta universe is very wide. This one is very worthy of everyone’s attention. I believe there are some topics related to the meta universe. Many team investors have begun to look at this one. In the field of traditional games, this concept is very popular this year.
A very large game company in mainland China, like Lilith, or like a team of the original gods, everyone will say that to make a meta-universe, it may mean that millions of people play games in it to survive. In the future, I will build a unity. One hundred million people live in a world of games, an open world, because Miha’s original god has a certain degree of openness. Although it is copied from Zelda, it is still possible to do it. This is a big concept. .
In this big concept, the concept of digital currency or NFT is indispensable, so I think this direction is very worth looking forward to. After this round of the epidemic, online life and online office work, like Binance’s distributed office, must be It will become more and more mainstream. If we are immersed, I will not have to use this live broadcast when we meet in the future. We wear glasses to map people to it, just like we used to watch “Star Wars” before, a light night image to a meeting It’s cool, it’s already that way.
Where shall we stay? Let’s go to the meta-universe, to a digital world, where everyone chats, makes friends, plays games and plays together in such a world. The meta-universe is a very good concept. I think the exploration of NFT is very worthwhile to try.
Binance Zora: Reed just shared that I find it particularly interesting, especially when it comes to VR glasses. It suddenly occurred to me that I have forgotten who the name of the game and the rapper are, but I know that because of an epidemic last year, there is a United States. The rapper from, he gave a personal concert in the game.
In fact, I think it may be a normal state for us in the future. It becomes that we live in the game and are closely integrated and bound with the game. Maybe in the future, through this game, you will get something, all using NFT. Make some payments, and then you can convert this NFT into your actual money, etc. I think there are really many ways to play, and the brains can be very open.
Reed: Yes, I think it’s not far off for “Number One Player” to become a reality. It may be realized in the next 5 years or so. Because the development of equipment is far beyond the imagination of ordinary people, especially VR glasses, it is iterated every year, the glasses are more and more like glasses worn by ordinary people, because now the glasses are big eyes, the back of the big box, the future 5G low time Yan, wear a pair of glasses, you wear glasses to go shopping, take a look at Taipei 101 Building, I will give you a function, 101 Building has all the fun and eating, maybe the future business will be different.
Binance Zora: Yes, I want to beg here secretly. I hope people who make VR glasses can develop a kind of glasses that will not feel dizzy and nauseous when playing VR.
Reed: I went to experience Microsoft’s VR glasses. I am not dizzy anymore. I am a little dizzy in 3D. I played Core Game a few days ago and I was dizzy after playing for a while.
Binance Zora: Back to the topic of NFT and digital currency, I will give you ten seconds to ask questions. About Cocos-BCX, NFT, GameFi, the future world is worthy of everyone’s mind. There is no native explosion in the NFT and DeFi world. You can look forward to this game, maybe you can do it on Cocos.
At present, we have seen some questions. If you see a question that you want to answer, Reed, you can answer it directly.
Reed: There is a question, will NFT be securitized in the future? NFT itself is an asset, at least you can opensea for trading, it is a security in itself and can be circulated very conveniently. Later, everyone will find that the problem of NFT liquidity can make some NFT fragmentation, and there are also things like NFT and FT.
There is another very important thing about NFT. There will be some loans after NFT. I think NFT will be possible in the future. It is inherently a securitized product. It is already an asset on the chain. Things that are securitized are inherently securitized.
What is CocosLayer2? We are investigating a product of Layer2, including OP and ZK. Which method is better for project selection, because Layer2 has its own advantages. We have seen that V God has written many related articles on this issue. OP is a better solution in the short term because it supports EVM better.
We see that ZK proposes a new plan, it can also support NFT atomic transactions, and its new EVM can also support solidy enterprises to migrate over, we see which specific thing is developed to what extent, it is not final yet There is no conclusion yet. When we do the application layer, it will be more appropriate to use the more mature technology now.
Let me answer this question. What interesting interaction and connection does NFT have with reality?
Some netizens just mentioned that everything can be NFT. You have to map reality or pure life on the chain. It means a bit of essential oil. I often talk to people about something very imaginative in the future. Some students in the group buy a house. It is very troublesome to buy a house. You need to find an intermediary, find a bank loan, and find a reliable intermediary. The money is sent to the escrow account, and the money is in place to go to the real estate center to make a transfer transaction. The entire transaction process is very cumbersome.
Some processes are very long and cumbersome. First, there is a lot of money, and second, there is a huge trust cost. I will give you the money, but what if you don’t give me the house? For real estate transactions, a tripartite intermediary must be required. If NFTs develop well, what are the best things you can think about? Several buildings in Block C of a certain community have been put on the chain, a sum of money and digital currency has been put on the chain, and the ownership has been transferred.
It’s very simple, basically there is no friction to get the real estate transaction, and of course the real estate authenticity is solved. It’s okay. I hold this new house NFT in my hands, in my wallet, such as my wallet, then I’m right. The ownership and property rights of this property are very clearly defined. I remember that there was a project, the project of Passport used blockchain to solve some real estate issues and property rights issues in Africa.
It is true that NFT is very valuable to solve these problems, but we have to admit that this kind of thing needs to be done by a central organization and needs to be on the chain. Just like we sell art now, in addition to the original digital art, you can buy a piece of traditional art. Mogan’s paintings are sold for sale, and there is a process of winding up. Whoever goes to the chain needs a single central agency to do this, otherwise it is difficult to do.
We can think of real estate transactions and car transactions, especially cars. You see that electric cars are the mainstream in the future. What car can I borrow to drive? Many things in the contract are written at the bottom of the car, including various financial applications. I I think they are all worthwhile, and this one will definitely be well integrated with reality. But I think this requires a process. It is often said that what is the use of blockchain for the physical industry? Everyone hears this question often.
Blockchain is the speculation of virtual currency. It is a bubble and has no effect on the real industry. But have you ever thought that the Internet has developed very well since 2000? The Internet has developed all the way to Internet+. The mainland only mentioned Internet+ in 201 years. This concept, before Internet +, only those things, watching some web pages, chatting, making friends, playing games, there is no intersection with the physical industry.
To a certain extent, the Internet will improve efficiency, and there will still be the concept of Internet +. Whether our blockchain has developed to a certain stage, it has been developed for ten years now, and further development, I think it will inevitably have a profound impact on the real industry, because it can improve efficiency, and one thing can improve efficiency. Can reduce costs, this is the value of technology, it will be related to reality, this is an inevitable thing.
Binance Zora: Actually, I have another additional question here to ask Reed. What do you think of it? Didn’t you say that Banksy had a painting called “Idiot”, describing an auction event, and someone bought 10 of them, and then this People burned and cast into NFT. Now everyone is discussing that Justin Sun’s foundation bought that painting and burned Picasso’s painting into NFT. What do you think of the phenomenon of burning down a work of art in the real world to cast into NFT?
Reed: I don’t think Brother Sun is that stupid. He will burn that painting and fire up this gimmick, and he will be scolded to death by real art lovers. The value of this kind of traditional offline artwork lies in its physical object. If you burn the physical object, it would be silly. You said that that example is quite special, because the artist himself burned things. In this way, he has a sense of resistance. Burning is an artistic act of him, which is completely different.
You burned the “Mona Lisa”, and a bunch of people were about to hack you to death. That was completely different. Of course I read the news. Some people in China burned some landscape paintings, and then they went to make those things, completely sensational. Why did you burn it? Look at the painting of “Mona Lisa”. I don’t know much about art. Go there. As soon as you see the real thing, you can feel a kind of art or a kind of beauty. What if you burn it, it is still different from the real thing.
For our digital art, I think it’s worth a little bit more original pure digital art, because an artwork must have some beautiful things and some abstract things. It can be called art when you have emotion and resonance. Traditional painting can be called art,but digital art is different in addition to painting and interactive things. I think it’s silly to burn.
Binance Zora: I particularly agree with Reed’s statement. I was a little shocked when I saw the news, but then I thought about it. I just mentioned that the artist of Banksy is a deviant artist himself, and he put his original works for auction. If you want to eliminate it, if you buy it and burn it, it will be Banksy. After buying a masterpiece of the ages and then issuing NFT, I think it’s a bit of an upside-down.
Everyone has been leaving messages asking how to join the Cocos community, can you give me a guide?
Reed: Everyone, go to Google and search for Cocos-BCX. We have a lot of community portals. It is easy for people with a bit of information retrieval to do it. Just search for Cocos-BCX.
Binance Zora: Find the official website of Cocos-BCX, and you can find various Cocos communities on the official website. Thanks again to Reed of Cocos for helping us share content about NFT and GameFi.
Reed: I am very happy to communicate with you all.
Binance Zora: Please also go to the official website of Cocos-BCX to join their community. Today’s live broadcast is over here. See you in the live broadcast room tomorrow, goodbye.
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