What is Digital brand equity? Animation have a sudden rise in social status? Can NFT continue making wonders, or cannot?
It has been half way done in 2021, and the word NFT is believed to be the most heard in the blockchain industry. It filled most of the mainstream media in the first half of 2021, such as the 13-year-long NFT artwork by artist Beeple which was sold in a whopping price, or the Feitian NFT launched by Alipay which was ramped to 1.5M some time ago. These NFT news are quickly attracting people’s attention, but do they really have their value, or can anything be made into an NFT for sale? Recently, BuzzyBee has been made into a digital brand asset, and the news that it will be auctioned has also appeared in various media. Why is it a digital brand asset rather than NFT?
Today let’s talk about digital brand equity and NFT with the thoughts from the letter written by Freeman Hu, the founder of Gamefarmer.NFT is just a Non-Fungible Token, and then what about a Digital brand equity? Does it equals to an NFT?
We are in the opinion that a digital brand equity is an NFT but the inverse is not. NFT is not only for the encrypting art field, since the world is going digitalize with much more stuffs. So let’s think about if digitization is the trend of the future, or can both light assets and heavy assets be digitized. If it does ,then a digital brand equity will be heavily needed. We will discuss why the digital property made from characters from the hot brand intellectual property, BuzzyBee, is called a digital brand equity instead of just an NFT, in six aspects below.
1. Artistic quality
We may not accurately know what artistic is, but artistic can be explained in a simple way, Art in my own opinion can be beautiful things, or attractive things, even if it is lines on a leaf. And the point is in MY opinion. Characters from BuzzyBee are made into digital brand equities, which are still beautiful and attracting, and so it has the artistic quality as well.
2. Historic quality
It means a thing with a history, like Mickey Mouse from 20’s and Teletubbies from 90’s. These IPs carry the memory of generations and are representative, while BuzzyBee from New Zealand represents the 80’s. In 1983, Prince Charles and Princess Diana of the British royal family visited New Zealand with the 9-month-old Prince William for the first time. Norma, the wife of New Zealand Governor General Sir David Beattie, presented Prince William a BuzzyBee toy, which accompanied Prince William for 36 years. This story also reflects the historicity of BuzzyBee.
3.Tendentiousness
It means a thing one person likes while the other may not, while I really love and am willing to pay for. For buzzybee, in fact, it’s more because friends in those days preferred it more, for its lovely image, for its interesting language and so on, which is why someone paid for it.
4.Rareness
A thing is valued in proportion to its rarity. It is the reason why that artwork by Beeple can be raised to such high prices that this artwork is the ONLY piece. BuzzyBee surely has its rarity due to its history. The first BuzzyBee toy was created in 1930’s, and the artist who loves BuzzyBee minted it into an NFT and empowered it as a memorable and unique thing.
5.Fluidity and Security
If the above four points may include many traditional works of art and collections, then this is unique to digital brand assets, which is also determined by the blockchain technology itself.
6.Capitalize
Because it has the attributes of the previous five points, it determines its very important asset point. As a digital brand asset, BuzzyBee has the ability to appreciate and depreciate, and also has the ability to condense the value of time for a long time.
With these six aspects above, BuzzyBee shall be defined as a digital brand equity with its own value. Why not only NFT? Because NFT should be the realization technology of digital brand assets. Just like the artwork by Beeple, which is not the technology, but empowered by NFT technology and changed from a product into a commodity, BuzzyBee is not an NFT as well as NFT empowered it as a digital asset. It has certain value, liquidity and security, instead of casually taking out a thing and auctioning it at a sky high price.
In fact, many friends don’t quite understand why NFT can be so popular this year and whether NFT track can break out in the second half of 2021. I believe everyone has their own opinions. With the involvement of NFT platforms such as Opensea, FoxNFT and Treasureland, which have different styles and functions, I personally believe that NFT will become the hottest hot spot in the second half of 2021. They will become the leaders in many platforms. Let’s wait and see.
