[Asia Economy Reporter Hyunseok Yoo] NBT continues its upward trend. As interest in NFT-based metaverses grows, expectations for the platform's potential are also spreading.
As of 9:51 AM on the 4th, NBT was trading at 36,100 KRW, up 7.44% (2,500 KRW) compared to the previous trading day.
Jung Yongje, a researcher at Mirae Asset Securities, explained, "Last week, the metaverse platform ‘Second Seoul’ experienced a server crash due to a surge in users," adding, "Second Seoul divides Seoul into 6.9 million tiles that can be traded as NFTs, with each tile priced at 10,000 KRW."
He continued, "Tile owners earn profits from trading gains and rental fees, citizens receive rewards for providing information, and small business owners run advertisements."
He analyzed, "Global platforms include Decentraland and The Sandbox," noting, "The Sandbox secured $93 million in investment last November, with a corporate valuation reaching $2 billion."
Researcher Jung introduced, "The core of NBT, Decentraland, and The Sandbox is decentralization," emphasizing, "The key is real estate sales through NFTs."
He said, "This differs from existing centralized platforms," explaining, "Previously, all resources were owned by companies, but decentralized platforms sell land as NFTs to individuals."
Researcher Jung predicted that sharing profits among participants will be a key basis for platforms to secure users. He explained, "This is why decentralized platforms can sustain long-term growth," adding, "Their operational methods are also pursuing decentralization."
The Sandbox plans to introduce a DAO starting this year. Decentraland operates as a DAO, a ‘decentralized autonomous organization’ concept where ‘anyone’ can own it. If NFTs allow a single passionate fan to own digital assets, community tokens enable many passionate fans to jointly own the community. Hundreds of DAOs exist worldwide, and the top 10 DAOs by asset ranking own assets exceeding $16 billion. Decentraland DAO grants one vote per MANA token. Landowners hold 2,000 votes.
Researcher Jung stated, "Ultimately, the core meaning of the metaverse is the threat new platforms pose to existing large platforms," adding, "The expansion of NFT-based platforms ultimately means the erosion of users and usage time."
He predicted, "This will trigger platform competition," noting, "Currently, content platform competition proceeds from text → image → video (long & short), but in the future, real-time 3D graphics and NFTs will emerge as dominant strategies for acquiring new users."
Furthermore, he emphasized, "In fact, Korea’s NBT aims to be an advertising platform for small and medium-sized merchants, opposing existing large platforms," adding, "Decentraland and The Sandbox also serve as spaces for corporate marketing."
He forecasted, "This will lead to some threats to existing large platforms and the rise of new platforms in the future."
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