Re-NFT
Could you start with what is your project about and your interest in NFT space?
Re-NFT is a high-generality/ ease to use multi-chain NFT fragmentation protocol and liquidity solution platform, which can split multi-chain NFT assets into a custom number of homogenised assets, derived new digital rights, tradable IP tokens, Initial NFT-Shads Offerings, etc. In the Metaverse, the monetization model was built for the scene NFT, and the two-way conversion of rights and functions between non-homogeneous assets and homogeneous assets was realized.
What is your belief in NFT? Which field do you think has the most potential for NFT to be implemented? ****
We believe that, based on the co-existence of NFT and FT, they will construct the core values of the underlying meta-universe or virtual world economy, as well as the core components linking reality and the virtual world.
In the NFT field，Firstly, we believe that the reversible conversion protocol of NFT to NF under different scenarios is the most important infrastructure in the future, and this protocol provides unlimited possibilities for the composability of NFT.
Secondly, about the NFT copyright protection around community-based IP, based on the quality of the work content, elements of the creation theme can be recreated, or virtual identities or objects can be created in the meta-universe. When these high-quality IPs are used in large quantities, more perfect copyright protection means are needed. Those can encourage more creative materials to enter the NFT track.
What do you think is the biggest challenge so far in the NFT application?
We believe there are mainly three aspects
First, NFT is not contextualized enough. We firmly believe that setting the scene before generating the trades the beginning of a healthy market. NFT is only a technical means instead of an end, We can't do it just for the sake of NFT.
The second, the cognitive misunderstanding of FT and NFT. Everyone assumed that FT issuing is risky, but ignored the rights and interests through the FT as the homogeneity of the basic economic function and the derived financial instruments. NFT has isolated with FT which is very dangerous, it is because, in a complete economic system of encryption, NFT and FT must have mutual coexistence complementary functions in the future. Only the coexistence of the two can make the bottom economy work.
Third, the underlying assets are single. At present, the underlying asset form of NFT is very simple, that is, the direction of the actual flow of funds is single. Uner the risk of market volatility, a single underlying asset combined with insufficient scenarios will actually accumulate a lot of risks.
What is the most exciting part of your project so far and in the future?
Firstly, the use of protocol layer and fast support of multi-chain. In the near future, ReNFT could be a must-have tool for many metauniverse projects and scenario-like NFT projects, helping them to build their underlying economic models and communities. At the same time, ReNFT's multichain support will give NFT creators more initiative to choose public chains that are more suitable for their needs, such as Conflux with performance advantages, FLOW with more direct NFT related information and BSC with more popular communities, etc.
Secondly, the ReNFT copyright factory will provide technical tools for more out-of-network creators from July to November to protect their copyrights and help them to expand their IP reach. What we will see in the near future is that most creators who want to make it to NFT will choose ReNFT to publish their work before it is released.