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From Bored Ape Yacht Club to CryptoPunks, NFT (Non-Fungible Token) is reshaping art, collecting, and digital ownership. This article analyzes the definition, use cases, and investment logic of NFT to help you understand this digital revolution.

NFT (Non-Fungible Token) is a digital asset certificate based on blockchain technology, with uniqueness, indivisibility, and traceability. Unlike fungible tokens like <a href="/ja/price/bitcoin-btc" target="_blank" class="blog_inner_link">Bitcoin</a>, each NFT represents unique digital content (such as images, music, videos), and its ownership is permanently recorded on the blockchain.

The core value of NFT:

- Rights certification: solve the problem of rampant copying of digital works, clarify the original creator and owner.
- Scarcity creation: endowing virtual items with collectible value through limited issuance (such as Bored Ape with only 10,000 pieces).
- Cross-platform circulation: NFTs can be transferred, traded, or displayed in different application scenarios.

## Phenomenal NFT Project Case Analysis

### Bored Ape Yacht Club (BAYC)

- Launched in 2021, 10,000 ape head NFTs are available, with holders enjoying exclusive community benefits (such as offline events, airdrops).
- Breaking the circle effect: Celebrities such as Justin Bieber and Curry have purchased at high prices, with a single floor price once exceeding 100 ETH (about 300,000 US dollars).
- Ecological Expansion: Derivative Mutant Apes (MAYC), <a href="/ja/price/apecoin-ape" target="_blank" class="blog_inner_link">ApeCoin</a> tokens, and the Metaverse land project Otherside.

### Cryptopunks

- Historical status: In 2017, 10,000 pixel avatars released by Larva Labs were regarded as the pioneers of NFTs.
- Sky-high transaction: Alien Punk #5822 traded for $23.7 million in 2022, establishing its status as a "digital blue chip".

### Other well-known projects

- Art Blocks: Algorithmically generated art platform, with an average artwork price of over 10 ETH.
- NBA Top Shot: Officially authorized NBA star highlights short video NFT, attracting over a million users.

## The application scenarios of NFT: Beyond digital art

### Digital art and collectibles

Artist Beeple's NFT work "Everydays: The First 5000 Days" was sold for $69.3 million, opening a new era of digital art auctions.

### Gaming and virtual assets

- <a href="/ja/price/axie-infinity-axs" target="_blank" class="blog_inner_link">Axie Infinity</a>: Players earn tokens by battling with NFT pets, Filipino players have used this to sustain their livelihood.
- <a href="/ja/price/decentraland-mana" target="_blank" class="blog_inner_link">Decentraland</a>: Users purchase NFT land to build virtual stores, galleries, with land prices reaching as high as 2.4 million USD.

### Identity authentication and membership benefits

- BAYC: Ape avatar becomes a symbol of <a href="/ja/web3" target="_blank" class="blog_inner_link">Web3</a> social identity.
- VeeFriends: American celebrity chef Gary Vaynerchuk issues NFTs, granting fans privileges such as meet-ups and courses.

## NFT Future Outlook

NFT is profoundly changing the way value circulates in multiple fields, becoming the core carrier of the ownership revolution in the Web3 era. In the field of intellectual property rights, writers and musicians can directly monetize their works through NFTs, bypassing traditional intermediaries; in the physical asset field, real estate and luxury goods are realizing on-chain confirmation and efficient circulation in the form of NFTs; in terms of community governance, holding NFTs (such as BAYC) allows participation in DAO voting decisions, promoting decentralized autonomy; and in the metaverse infrastructure, NFTs are the cornerstone of the virtual world, where core assets like land, clothing, and props exist in the form of NFTs.

It can be seen from this that NFT is not only the carrier of digital collections, but also a technical tool to reshape the production relations. Whether chasing the cultural symbol value of BAYC or exploring the collection significance of CryptoPunks, investors need to grasp a core principle: deeply understand the underlying application value of NFT, while maintaining a clear understanding of the short-term market bubble. Only by balancing value discovery and risk prevention can we truly grasp the opportunity of this digital ownership revolution.

<div class="blog-details-info">
<div>Author: **Icing**, Gate.io Researcher
<div class="info-tips">\*This article represents only the views of the researcher and does not constitute any investment suggestions. Investment involves risks and users need to make careful decisions.
<div>\*Gate.io reserves all rights to this article. Reposting of the article will be permitted provided Gate.io is referenced. In all cases, legal action will be taken due to copyright infringement.
</div>

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What Is an NFT? From Bored Apes to CryptoPunks, Unveiling the Value and Future of Digital Collectibles