The NFT market welcomes new rise with the average price surpassing 100 USD.

NFT has recently become a hot topic in the Crypto Assets field. Data shows that the average selling price of NFT products in 2019 mostly did not exceed 50 dollars, while by August-September 2020, the daily average price had broken through 100 dollars, indicating a significant rise in users' willingness to purchase digital products, and the NFT market is迎来新一轮增长.

NFT stands for Non-Fungible Token, which has the characteristics of being irreplaceable and indivisible, representing a unique digital asset. Unlike fungible tokens such as Bitcoin, NFTs are more akin to artworks in the real world, where each one is unique and cannot be exchanged for another.

Currently, Ethereum's ERC-721 standard is the most widely used NFT protocol, commonly used for developing rights-confirming tokens. With the expansion of the NFT market, other public chains have also successively launched their own NFT development modules, such as Tezos' TZIP-12 and Polkadot's Unique module, attracting a large number of developers to join the construction of the NFT ecosystem.

The application of NFTs was initially concentrated in the fields of gaming and digital art collections. In 2016, an on-chain card game launched based on the Bitcoin Counterparty protocol laid the foundation for NFT applications. In 2018, the CryptoKitties game on Ethereum triggered a craze, making Ethereum the main platform for NFT development. Subsequently, the rise of NFT asset trading platforms provided an important traffic entry point for the market.

In addition to ERC-721, with the diversification of community demands, more NFT protocol designs have emerged. For example, Tezos's FA2 (TZIP-12) multi-asset interface supports various types of tokens and applications, simplifying the creation and management process of NFT assets. Tezos's advantages lie in its high security and non-forking network upgrade capability, which makes the development of decentralized applications easier and safer.

Under the influence of the DeFi boom in 2020, the integration of NFT and DeFi has become a new trend. This combination is known as "GameFi", which is the merging of games and finance. The new generation of NFT products is no longer just simple collectibles, but more complex financial certificates. For example, a certain project offers NFT-based insurance contracts, allowing users to convert their policies into tradable NFT tokens.

As the number of DeFi users increases, the market demands higher security and efficiency from underlying platforms. The congestion of the Ethereum network and the high Gas fees remain major challenges for developers. In contrast, other public chains like Tezos show rise potential in contract deployment and DeFi applications.

Tezos is actively improving its ecosystem by launching infrastructure such as price oracles, decentralized exchanges, and on-chain stablecoins. These developments create favorable conditions for the further integration of NFTs and DeFi.

In the future, we may see a deeper integration between NFT and DeFi. As NFT products gradually transcend the realm of pure entertainment and collectibles, developers' demands for security performance and efficiency will also increase. Public chain platforms like Tezos, which have high security, low energy consumption, and a rich integrated environment, may provide more opportunities and support for innovative applications of NFT and DeFi.