NFT and mystery box: A new era of digital collectibles

robot
Abstract generation in progress

NFT and Mystery Box Economy: The Rise of a New Generation of Digital Collectibles

The successful listing of Pop Mart has sparked people's attention towards the mystery box economy. As a representative of new consumption, trendy toys share similarities with NFT players in the crypto space, both being representatives of niche subcultures. The success of Pop Mart has certain implications for the entire NFT sector.

The mystery box model has actually been around for a long time. As early as 1996, Pokémon began issuing TCG cards, attracting collectors in droves. By 2019, the Pokémon card series had been released in 77 countries and regions worldwide, with total sales exceeding 27.2 billion cards. A similar example is the Yu-Gi-Oh! cards, which reached sales of 27.3 billion yen in 2019.

In addition to physical cards, electronic collectibles in games are also very popular. Games like DOTA2 and Onmyoji use similar card-drawing mechanisms to attract players. In 2018, the application Crypto Kitties on Ethereum suddenly became popular, drawing attention to NFT technology. In the same year, the blockchain game Gods Unchained started its pre-sale, converting cards into NFTs, and received a warm response from players.

However, the physical mystery box model still has some issues. Scarcity is difficult to guarantee, the risk of counterfeiting is high, and physical storage and circulation are inconvenient. In contrast, NFT technology can solve these problems. The scarcity of NFTs is determined by code, they cannot be counterfeited, and they can be permanently stored on the blockchain.

NFT can bring higher liquidity and financial attributes to collectibles. Item trading in traditional games is often restricted, while NFTs can be freely traded. Some projects even combine NFTs with DeFi, allowing collectibles to have functions such as mining and governance.

Nevertheless, the development of NFTs still faces many challenges. Firstly, there is a lack of quality IP, which directly impacts user growth. Secondly, the infrastructure is inadequate, with high Gas fees and slow transaction speeds affecting user experience. In addition, the management of NFT exchanges is chaotic, lacking unified standards.

In the future, the combination of NFT technology and well-known IPs may become a breakthrough. Some projects have already begun to explore this, such as the GoPepe series on the WAX chain. However, to truly achieve large-scale application, further improvement of the infrastructure is needed, including wallet support, transaction platform optimization, and more. At the same time, developing richer gameplay and application scenarios is also crucial.

Overall, NFT technology brings new possibilities for digital collectibles, but it still requires time and efforts from all sides to truly mature.

IP6.67%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • 7
  • Share
Comment
0/400
NFT_Therapyvip
· 07-12 22:53
How much of this heat is real?
View OriginalReply0
MEVHunterLuckyvip
· 07-11 23:11
Who still trades mystery boxes? It's an old trap.
View OriginalReply0
PretendingSeriousvip
· 07-11 02:21
A mystery box is not as good as grabbing a doll.
View OriginalReply0
BearMarketMonkvip
· 07-11 02:21
I've seen retail investors chase the price and sell with bearish market!
View OriginalReply0
BlockchainWorkervip
· 07-11 02:17
It's starting to rise again.
View OriginalReply0
SerumSquirrelvip
· 07-11 02:01
There are more cases of mystery boxes running away with the money.
View OriginalReply0
NewPumpamentalsvip
· 07-11 01:52
Pop Mart are all suckers catching a falling knife.
View OriginalReply0
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate app
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)