1. About Ethereum NFT and Bitcoin NFT

Currently, avatar-type NFTs in the Ethereum ecosystem are quite sluggish. Even the once-popular Bored Ape Yacht Club has dropped to below 12 ETH, not to mention other NFTs (including Goblins).

The only standout project is Pudgy Penguins, with a floor price exceeding 12 ETH, surpassing Bored Ape Yacht Club. Its ability to stand out is probably mainly due to the recent boost in popularity through the implementation of off-chain business strategies.

However, whether these off-chain business strategies can continue to support and promote NFTs, a new on-chain asset, still needs to be observed and tested over time. I am relatively cautious about this.

Because these strategies are following the old path of traditional IP. I always believe that new things need new marketing methods and strategies to make breakthroughs.

Overall, if Ethereum's avatar-type NFTs cannot find new ways and strategies, the overall sluggish trend is likely to continue. Even if they can catch the tailwind of the upcoming bull market in the future, it will only be a temporary resurgence.

In comparison, NFTs in the Bitcoin ecosystem have been more lively recently.

Various NFTs related to runes have been surging. Especially Runestones, after the founder announced that there will be three more airdrops, sparked accelerated buying interest, pushing its market value above that of Bored Ape Yacht Club.

In addition, Bitcoin Puppets recently briefly surpassed the floor price of the long-dominant CryptoPunks driven by emotions.

These two phenomena indicate that NFTs in the Bitcoin ecosystem are still in the early stage, and their price surges are more driven by short-term emotions, lacking the value and consensus accumulation experienced by NFTs in the Ethereum ecosystem during the bear market. It is very likely that the rankings of these NFTs will change in the upcoming bull market.

However, in the long run, a more noteworthy hidden concern is that most of the NFTs in the Bitcoin ecosystem are similar to Ethereum's avatar-type NFTs or meme coins, with short-term emotional value. If they cannot find a sustainable development path, their ultimate fate may not be optimistic.

2. How to view the TVL of Merlin, is the risk very high?

Not only for Merlin, for almost all staking projects, once the TVL reaches a certain threshold, the risk will definitely increase. Almost all projects in the Ethereum DeFi ecosystem have gone through numerous tests by hackers and market baptism to reach where they are today.

Merlin will also encounter these problems and challenges. In addition, Merlin's way of storing assets is a very traditional multi-signature wallet. Therefore, the safety of the assets staked in Merlin depends entirely on the project's management.

If managed well, the risk is controllable; but if not, the risk is hard to predict.

I have also participated in its asset collateral. As a participant, it is difficult for us to judge the project's management level, so we can only start from ourselves and control the risk—this is what I have always emphasized: do not stake a large amount of assets, only stake assets that you can afford to lose.

3. How about the project TAO?

I'm not entirely sure if the TAO referred to here is Bittensor. If it is, I have shared this project in the series of articles on AI that I shared earlier.

It targets a very niche field, is innovative in its application scenarios, and its implementation is also reasonable. More importantly, it does not deliberately use seemingly grand but actually unrefined scenarios to hype the project like many other projects do. So, although this project also has many questionable and testable aspects, I still think it is worth continuing to observe and have certain expectations for it.

免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。