NFT out of the loop, BOBO may pry the new $10 billion market

Recently, NFT trading platforms have been showing signs of weakness, and while the current NFT platform has great potential, it ignores the need for liquidity of assets.

OpenSea, for example, provides a platform for NFT creators to sell and display, but the effect is static. For the buyer of NFTs, he has only one way to choose, which is to sell them to the next enthusiast or collect them himself, and there is no other way to profit. On the other hand, OpenSea is an open platform but there is no vetting mechanism for NFT creators, so anyone can distribute their NFT assets on it, which creates opportunities for those with ulterior motives to make and sell counterfeits.

All of these signs were soon reflected in the transaction volume, which according to public data showed that OpenSea's 24-hour transaction volume increased from May
With a peak of $23.13 million on June 4 plummeting to just $4.66 million on June 24, a drop of nearly 80%, people were looking for a breakthrough in the depressed NFT market.

BOBO is expected to be the game breaker.

BOBO originated in Japan and combines NFT and DEfi to provide a solution to the problems of the traditional digital art market and crypto-digital convergence. It also combines market theory to achieve a mechanism for the production and distribution of non-permanent possession assets.

Before we do that, let's understand what DeFi is.

DeFi, a market segment in early blockchain development, has gained momentum in the last year. With the value of digital assets locked in DeFi applications growing from less than $1 billion in 2019 to more than $10 billion by 2020, according to publicly available data
And at one point in 2021, it will exceed $80 billion.

DeFi provides a good entry point into the financial space for the masses, and the main categories of DeFi applications currently include: decentralized exchange DEX, lending platforms, stablecoins, synthetic assets, insurance, and more. While their coverage varies, all of these DeFi applications share a set of key commonalities, including

*Use the underlying blockchain as the core ledger
*Default open source transparency
*Interoperability and programmability (composability)
*Fully open and accessible to all (no license required)

This is where DeFi's unique advantage in the financial sector comes to the fore at NFT.

A very interesting phenomenon has recently emerged in the NFT community: we are seeing collector DAOs starting to form around NFTs. Edward Snowden sold an NFT for $5 million, purchased not by an individual, but by a group of people who pool their money using smart contracts on Ether.

So it seems that NFT players are desperate for a platform that allows them to crowdfund their participation, but it is clear that most of the current market

The current NFT market is still dominated by collectibles, artworks and other scarce items with high value, and the monotonous 1V1 model of early NFT platforms like Opensea simply cannot afford more circulation of NFT, BOBO as a product of the NFT3.0 era is combined with DeFi to allow all people to participate, through NFT pools, NFT collateral lending and other multiple ways to release the idle resources in the hands of NFT traders and fully revitalize the NFT market movement. BOBO, as a product of NFT3.0 era, combines DeFi to allow all people to participate, through NFT pool, NFT collateral lending and other multiple ways to release the idle resources in the hands of NFT traders, and revitalize the NFT market movement.

At the same time, BOBO introduces NFT works screening mechanism to solve the problem of authenticity of NFT from the source, all uploaded works on BOBO and the author himself need to go through the system of authentication and screening to ensure that each NFT traded on BOBO is real. Perhaps in the near future, you can open the NFT in BOBO and go to an offline art gallery, exchange a real artwork at home to treasure it and participate in the future BOBO will make it easy for everyone to own NFT and create their own value wealth in it.