ERC721

Founder of Singular Labs: NFTs are a better representation of RWAs, and the value of ERC721 assets will surpass that of ERC20

ChainCatcher news, ChainCatcher and RootData held an offline exchange event today at 14:00 in Singapore themed "New Trends in Web3 and Changes in Investment and Financing." During the keynote speech, Jerry, the founder of Singular Labs, shared a presentation titled "When the Next NFT Narrative Arrives, New Playgrounds for NFT Fi."Jerry mentioned that regarding this year's NFT market, due to Blur's incentive policies and the royalty pricing agreement with OpenSea, the trading volume of PFP has gradually declined after peaking on February 22. Approximately 70% of illiquid NFT projects have a floor price of 0 due to factors such as lack of liquidity and limited use cases, while 1% of NFT projects account for more than half of the total market value of NFTs. Currently, NFT Fi mainly serves blue-chip PFPs, with a cumulative loan amount of $480 million and outstanding debt of $18.26 million.Regarding the NFT Epoch RWA sector, it is expected that by 2030, the market size for tokenized non-liquid assets will reach $16 trillion, accounting for less than 1.8% of the current global asset total of $900 trillion. RWA is becoming more diversified, and NFTs are a better representation; the value of ERC721 assets will surpass that of ERC20. Additionally, Jerry mentioned the NFT full-chain gaming sector, believing that gaming is the best way for Web3 to break boundaries, with decentralized games led by DeGame and full-chain games thriving, which will generate a large amount of value-stable NFT assets in the future.It is reported that Singular Labs' lending protocol, Singular, serves both virtual and real assets, providing liquidity and interest income, supporting the new ecosystem of NFT FI and RWA.
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