Arawo The Future of Cocone is About to Leave Me Behind, Part 1 – What is NFT? -What is NFT?

What is NFT, doctor? I don’t understand what you just said.

I don’t know,” he said, “I know. I wouldn’t understand if you told me out of the blue.
There has been a lot of talk about Jack Dorsey’s tweets, Beeple, Crypto punks’ digital art, and recently, Yusaku Maezawa’s “the world’s first NFT issued in space,” but generally, it still seems like “what is that? But generally speaking, it’s still a bit of a mystery.
In a word…
The time has come for people to “own” digital things.
For example, houses and cars have a legal system of ownership, right?
If you sell it to someone or something, you’ll have a proper certificate of who sold it to whom, who owns it, and so on, right?”

Yeah.”

And that means we’re now in an era where we can do the same with digital stuff.”

But, you know, digital things don’t decrease!
I can even copy it easily. What’s the point of owning it?”

Yes. It doesn’t diminish, and digital has no value because it was so easy to duplicate. People tend to think that.
In the case of music, for example, it is easy to copy and listen to music illegally, and with the advent of streaming and other services, the number of people who don’t buy CDs has increased, so the feeling of [] has diminished.

Sure!
When I used to go out of my way to buy CDs, I would pre-order them and look forward to the release date. I had a feeling of ownership.
I was really looking forward to opening the lyric cards and special offers….
In comparison, nowadays, it is easy to listen to music through subscription services, and it doesn’t exist as a “thing” that you can pick up, so I don’t feel like I own it.
It’s convenient for the listener, though.”

Yes,” he said. With the NFT, proof of ownership can now be mixed digitally.
The technology is called blockchain.
In brief,
[This is mine. It is yours! Sold to you, bought from you.] I can now track something like that as proof.”

I guess it’s just like a house or a car, isn’t it? It’s just like a house or a car, isn’t it?
I’d rather be able to track them than CDs and the like, which I can do now.
Now, when you go to a secondhand store, there’s no certificate to say who had it before.”

Yes, yes.
So I’ll be able to sell the music data I buy to someone else, or sell the image data I get to someone else.”

What? But that’s what you call resale, right?
Can you do that without the original owner?”

Yes. That’s the point.
But when you no longer use CDs, books, or games, you sell them to second-hand stores, right?
Why can’t we do data? I mean.
Data and physical objects should be equally valuable.

For example, let’s say that an artist who likes Arawo. is a favorite artist and sells a limited number of his works at NFT only to his fans, right? That’s a great scarcity value.
We can also put in image data, so if you buy this, you can watch this video as well! We could also add a bonus like, “If you buy this, you can watch this video!

Let’s say that the data of the work, Arawo is available for 10,000 yen.
But there are a lot of other people who want that limited-quantity work, aren’t there?
So, Arawo. can sell it to someone else.

So far, it has not been impossible to do so, but in the case of NFT, let’s sell it to Mr. B for 20,000 yen! In the case of NFT, however, when the price is 20,000 yen, the Arawo author can sell it for 20,000 yen. In the case of NFT, however, it is possible to design the system in such a way that the resale is tracked from NFT to Mr. B, and the royalty for the resale is paid to the original artist.
That area is not yet well maintained, though.

By being able to prove that the original is just this work, and by becoming finite data just like the original, digital data, which was often thought to have no value in the past, now has value.”

I see! I see! Not only do you own the data, but if a new artist sells a painting for 10,000,000 yen, and then the artist becomes very famous and the painting is resold for 100 million yen, the artist only earns 10,000 yen for the painting. But if the painting is sold at NFT, the artist can earn income every time the painting is resold, even if it started out at 10,000,000!

Yes. There are some things you can do because it’s digital.
It’s not just in music and art, but also in the gaming world, the fashion world, and many other industries.

Then you’re going to use the Cocone app?”

Of course. You already had RMT going on in ‘ Pokecolo for years.”

Oh, you know, the ones that the higher-ups are cracking down on with bloodshot eyes.”

‘The way you say it. LOL.

Rare item getter for Pokecolo~!
I’ll sell the items…

…and they’ve sold out. Rare items in Pokecolo.”

“On a positive note, that’s how much people think the digital items in Pokecolo are worth. ！！！！
Until now, there have been scams and problems when people have sold their items without any proof, but with the NFT, there will be proof that they are genuine!

‘Yes. But [not all NFTs have a price].
NFT is a technology that allows you to own digital data, not that NFT = data with value.”

I’m sure that if no one buys my photos when they are converted to NFT, they will be worth zero.”

Yes, I do.”

Hey.”

But it’s a time when that’s what sells,” he said.
There are still some problems, though.
One of the elements of the Metaverse is NFT, which means that Cocone

1. I have NFT technology.
2. Community is there (has the know-how to manage it)
3. You can make digital items (and I bet they’ll be worth a hell of a lot).

So that’s why we’re challenging Cocone in the Metaverse.”