The Internet has eliminated traditional yellow pages, Netflix has destroyed offline theaters, will NFTs kill traditional art?

Over the past decade, we have witnessed a dramatic transformation in the entertainment industry.

For nearly 100 years, studios have determined which actors have the luck and power to become stars. But in the 21st century, everything has changed. The camera's focus has shifted from professional actors to everyday people. With the advent of reality TV, it's no longer a trained actor who becomes a star, it's your classmates, co-workers, or next-door neighbors, and everyone gets a chance to become a star, regardless of the outcome.

Later, social media such as Instagram, YouTube, and podcasts gradually became mainstream. When people point cameras and microphones at themselves, traditional studios start to be powerless. People like Mr. Beast can build fan empires bigger than mainstream media and movie stars, and Guyraz has more daily listeners than big radio stations and reality TV stars like Rogan and the Kardashians. Big brands are scrambling to sign commercial contracts with the rookies, further cementing their status as "ambassadors" in the new era. Before we know it, 75% of our kids are starting to dream of being a social star in the future!

Over the next decade, we will see a similar shift in the art world.

For hundreds of years, kings, queens and nobles decided which art would go mainstream, and the works they recognized still hold a high status today. By the 19th century Victorian era, galleries, museums and collectors began to enter the art world. When the names of Andy Warhol and Jean-Michel Basquiat are heard on the streets, their works have long been acquired by well-known collectors and market makers and become extremely expensive. All that is left for ordinary people are those less popular works and printed editions. Unless, of course, they are willing to pay a high price. This phenomenon is not just happening in London, Paris or New York, but globally. In Morocco, 5 art market makers formed the "Art Mafia". If any artist dared to go against them, his career could be over.

Until around 2018, a new paradigm started. In the NFT world, there are no market makers, no museums, and collectors have their own galleries and public markets. Thanks to platforms like Cyber, anyone can create an amazing metaverse gallery in 15 minutes. Granted, when an artist wants to be on top platforms like Super Rare, Rarible, Nifty Gateway, a "seal of approval" is required, but you'll see artists like Larva Labs reap without museums, galleries, and market makers Millions of dollars in sales, and millions of dollars in sales every day on Open Sea... These are just some of the well-known projects on Open Sea. Any artist from all over the world can mint their own NFT, no invitation and no restrictions.

With the birth of NFTs, for the first time in history, the masses have the right to choose the artists of the era, to have access to their artworks before they form an impact, and to help them make history. You can display their work in your own gallery, set them up as your Twitter avatar, or write “Digital Corridor” in your social media profile like pioneering crypto artist Copy Art. Perhaps a few years ago, a talented artist from a remote village had the desire to become a well-known local artist. Now, he can build his own international community around his work through Twitter or Discord, attracting followers from around the world. You may be thinking, can an artist really generate such a large scale effect and revenue stream through NFT? We might as well take a look at Justin Aversano and his Twin Flames collection, whose photographs have sold for over $1 million and have been sold at Christie's and Sotheby's; or the aforementioned Copy Art, he started minting NFT art on the chain as early as 2016, and in the past 3 months, his personal works have been sold for $3 million, $4 million, or even $7 million…

Regardless of whether NFT, DeFi or the Metaverse are applications built on the public chain, how can we pay attention to the development of this field and seize investment dividends?

The first is: whether NFT transactions require high fees and congestion, high fees will hinder the development and consensus of the NFT market, for example: Ethereum is lagging behind, such as REITs CHAIN, BSC, etc. Transaction fees attract NFT developers.

Let's introduce why the emerging public chain has advantages in the ecological field of NFT;

REITs CHAIN ​​is a global asset digital ecological public chain! The world's truly innovative implementation of blockchain technology to empower the public chain of physical assets!

There are security and encryption advantages from the underlying consensus:

REITs CHAIN ​​adopts a PoW+DPoS hybrid mechanism. The two ledgers run at the same time, which has the characteristics of decentralization, high throughput, security, encryption, privacy, etc., and the mining method is more flexible and the block production is more stable. It ensures the security of NFT market transactions, and at the same time solves the congestion of a large amount of data on the chain.

There are a large number of physical assets anchored on the chain from the ecology:

The mission of REITs CHAIN ​​is to create an open digital ecosystem of trusted assets, dedicated to allowing real-world assets to freely exchange information and exchange values ​​in a secure, trusted and privacy-protected environment. And NFT is the product of asset digitization. Through real-world anchoring, asset digitization, and NFTization, the problems of asset ownership and regulatory traceability are solved.

From the technical performance enough to support the development of major applications:

REITs CHAIN ​​adopts POW+DPOS hybrid consensus mechanism, TPS exceeds 3000, has strong compatibility (compatible with Ethereum, BSC, HECO, etc.), and also has scalability, with a large number of side chains to support and expand transaction speed, and finally has interoperability It can open up the data between off-chain and on-chain, and can integrate artificial intelligence, Internet of Things, big data, 5G and other technologies to empower the real economy. There are physical physical mining machines at the bottom to ensure the security and traceability of data on the chain.

The rules of the game have changed, and the old way of playing doesn't matter anymore, because soon, it won't exist anymore. Just as social media gurus have wrested star-making power from studios over the past decade, NFTs are wrestling autonomy from market makers and museums. Now, we become market makers ourselves, creating our own museums and deciding what kind of art can define this era. A "digital renaissance" has begun, and we are the protagonists of this drama.