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Yuan Universe Real Estate and NFT plummeted, and celebrities couldn't stop them.
JJ Lin The three virtual real estate bought in Yuanyun dropped by 80%, down to more than 90,000 yuan.
These real estates are now almost zero visits, and there is no architectural decoration around them, and they are empty. The NFT Phanta Bear (Phanta Bear) that sells goods with
Jay Chou has dropped by more than 95%.
was once speculated to the price of 8ETH a few days after its issuance, and fell back to nearly 0.31ETH (note that the price of ETH itself has not yet been counted).

There are many NFT projects jointly developed by celebrities such as Pan Weibo and Edison Chen , and now they have fallen below the issue price.

△NFT "Innocent Cat" endorsed by Pan Weibo
The Metaverse Real Estate and NFT, which were popular at the time, have now fallen like this?
sold from 1cm² to less than 1,000 active users
, virtual real estate and NFT became popular with the Meta Universe, and even became more popular than the Meta Universe itself.For example, virtual real estate can be sold for 140,000 yuan in the metaverse just with 1cm².
On the Sandbox game platform, some players spent 450,000 US dollars (about 2.87 million) to buy a house in the Metaverse in order to become the neighbor of hip-hop singer Snoop Dogg. It is said that the neighbor's Feng Shui treasure land area is 3×3 grids (the virtual world does not require square meters), and the average house price per grid is 50,000 US dollars.
is a land priced from tens of thousands to hundreds of thousands of dollars, and will be sold for more than 400 times in one time, and it will be snatched up within one minute.
For example, Twitter co-founder Jack Dorsey (Jack Dorsey) The first tweet's NFT product sold to 2.9 million .
A digital collage by visual artist Beeple is priced at 69 million . Coca-Cola has also obtained more than .575 million through the sale of digital products; more than 3,000 paintings formed by a 12-year-old British boy used Python script to arrange and combine them in NFT form, and can earn 2.5 million in one summer vacation.

At the most popular time, stars such as JJ Lin and Jay Chou entered the metaverse and successively purchased digital assets such as virtual real estate and NFTs. Some celebrities even established their own NFT companies.
But soon the prices of virtual properties and NFTs began to fall generally.
According to blockchain analysis company Chainalysis, NFT sales in 2022 fell from US$12.6 billion in January to around US$1 billion in June, showing a trend of plummeting :

. The Sandbox game platform, which was popular at the time, gradually dropped from more than 1,000 people in April 2022 to less than 1,000 people in July less than 1,000 people in online.

For this phenomenon, Cailianshe interviewed digital economists Gao Zelong and Yu Jianing and analyzed two reasons.
On the one hand, starting from May and June last year, many countries around the world began to crack down on cryptocurrencies, and the price of NFT fell; on the other hand, the value of NFT has no recognized measurement standards, so it is very easy to have speculation or speculation.
But behind this, there may be some deeper reasons.
Is Jay Chou’s stolen digital assets still safe?
, the blockchain technology behind NFT, , is known for security .
However, on April 1, 2022, Jay Chou announced on a social platform that his boring ape NFT, whose number is BAYC#3738, was stolen , and it has only been 3 months since he owned this NFT.

Boring Ape is one of the most popular and expensive NFT projects on the market at present. It has been valued at US$4 billion in just 11 months after it was launched.
For this Zhihu @Peng'an Dr.Quest analysis stated that:
blockchain can only guarantee the integrity of data , but cannot guarantee the integrity of business logic . The NFT stolen incident like

not only happened to Jay Chou.
For example, last year, some users' NFTs on the NFT trading platform Nifty Gateway were stolen, with an average loss of thousands of dollars per account.
At the same time, hackers can often hack into the Discord servers of various NFT platforms and send phishing links to users to steal NFTs. This has occurred on platforms such as

including Boring Ape, Doodles, Nyoki and Shamanz. In addition to security,
is one of the reasons why cannot hold accountable.
In fact, as early as September last year, People's Bank of China and ten other departments issued the "Notice on Further Preventing and Handling the Risk of Speculation in Virtual Currency Transactions", which includes this one:
Virtual Currency -related business activities are illegal financial activities.

In fact, whether it is virtual real estate or NFT, it is not a product after the emergence of the metaverse. Among them, virtual real estate has been a common transaction item in RPG games, while NFT is a concept that someone has proposed after blockchain technology became popular a few years ago.
However, before the meta-universe concept craze emerged, both virtual real estate and NFT were only popular in niche circles, and did not become popular or even "out of the circle", not to mention that they were often hyped up to prices of tens of millions of yuan.
In other words, these are concepts that have been hyped up with the craze of the metaverse, relying on the "uniqueness and distinction" of encryption technology.

Once the security of digital assets is questioned, the popularity of the metaverse declines, and the real value of virtual real estate and NFTs will inevitably begin to be re-examined and evaluated.
One More Thing
This wave of "collapse of houses" in the metaverse does not only happen to celebrities. The first thing that stopped operating in
was a group of games , which focused on NFT.
For example, "F1 Delta Time", which was launched before the Metamorphosis, is a racing game with NFT as its core. It was officially licensed with F1 when it was launched that year. In the
game, whether you get racing , drivers, or conduct competitions, transactions, etc., you need to complete it through the official cryptocurrency REVV, to reflect the NFT attributes in the game.
However, one of the earliest NFT games appeared, announced the suspension of operations on March 15 this year, and the official will dispose of the game assets in the future.

In addition, many NFT games that are still operating have also been hacked. For example, after the NFT game Axie Infinity's Ronin network was hacked, it lost a total of US$625 million.
As for the first batch of NFT assets , the price has gradually fallen to the lowest point.
Like Twitter co-founder Jack Dorsey’s first tweet of NFT product, once sold at a high price of $2.9 million.
However, when the buyer wanted to re-sale in April this year, he only received a offer of up to $280.
Now, major manufacturers have begun to exit.
In the past two days, Tencent Digital Collection Platform (NFT Trading Software) Magic Core has also issued an announcement to stop the issuance of digital collections, and users can choose to continue holding or initiate a refund application.

At present, all digital collections on the platform have been displayed in a state of "sold out" or "collection".
reference link:
[1]https://www.zhihu.com/question/525433404/answer/2420048771
[2]https://mp. weixin.qq.com/s/487-UmkUizMa-pMtVxtcXQ
[3]https://m.cls.cn/detail/1100308
[4]http://www.gov.cn/zhengce/ zhengceku/2021-10/08/content_5641404.html
[5]https://twitter.com/AmeerHussainn/status/1546346290266705920
[6]https://twitter.com/CoinDesk/status/1533795939982393344
[7]https://wemeta.world/browse/decentraland
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