101TOLK: Discussing the essence of NFT and the future of HOE

On September 4, 2020, the HOE community organized the first AMA with the theme of "Exploring the Essence of NFT and Talking about the Future of HOE". At the same time, 101TOLK specially invited HOE Chinese community evangelist, Silang, as the host of this live broadcast.

Community volunteers have now compiled all the content and shared it here for everyone's reference.

Shiro:

Hello everyone, let me introduce myself before I start. My current career is to conduct HOE trails and research and explore the essence of blockchain. Today, I am the host of this live broadcast in this group. This is my first time to appear here as a group host, and please bear with me.

Now let’s welcome our mysterious guest today, the Chinese Assistant!!!

Chinese Assistant:

Good evening everyone, I am the Chinese assistant, and also a firm believer and holder of HOE. Today I came to the community as an evangelist to do this live broadcast, hoping to bring you something different and let you further understand HOE.

Shiro:

Thank you for the Chinese assistant's self-introduction. The purpose of this live broadcast is to let everyone further understand the future layout of HOE and have a better understanding of the blockchain industry, what we are doing and why we are doing these things. First of all, please let the assistant briefly introduce what HOE is?

Chinese Assistant:

Okay, Shilang, HOE is the only foundation in the world that builds market competition barriers with advanced technical strength and forward-looking innovation vision. Thanks to BlackRock Investment Management Group, HOE's exploration of financial innovation can be traced back to 2001.

The predecessor of HOE Foundation is a financial innovation department established by BlackRock Investment Management Group in 2001. It follows the principles of technology and innovation, and always develops the latest technology outside of traditional financial investment, making better decisions under the guidance of machine learning and distributed computing. Backed by the world's largest asset management group, HOE Foundation has been deeply involved in traditional finance and financial technology innovation for many years, and has rich industry resources and financial product operation experience.

HOE is committed to building the next generation of Defi open financial ecology. The platform aims to create an open, transparent and secure decentralized financial environment, provide ecological support strategies such as ecological incubation, business model consulting and competitive advantage empowerment, so that developers can create more and better decentralized services.

Shiro:

Thanks to the Chinese assistant. The theme of this issue is NFT. I believe everyone is familiar with NFT. The recent purchase of sky-high-priced portraits by Curry, Justin Sun and others has once again promoted the development of the NFT industry. Can you briefly talk about your personal views on NFT?

Chinese Assistant:

Okay, regarding this direction, we first need to understand what NFT is?

NFT, short for non-fungible token, is a unique digital product with blockchain-managed ownership, including collectibles, gaming equipment, digital art, event tickets, domain names, and even ownership records of physical assets.

Most discussions about non-fungible tokens start by introducing the concept of fungibility, which is defined as “capable of being substituted or replaced by another identical item.” This can complicate things, so to get a better idea of ​​what constitutes a non-fungible asset, just think about most of the things you own. The chair you sit on, your phone, your laptop, anything you can sell on eBay, all of these fall into the category of non-fungibles.

It turns out that money is a classic example of a fungible asset. No matter what the serial number is on a particular five-dollar bill or whether it exists in your bank account, five dollars is still five dollars. You can exchange one five-dollar bill for another five-dollar bill (or five one-dollar bills), thus achieving currency interchangeability. Fungibility is relative and it really only applies to comparing multiple things.

Consider business class, economy class, and first class tickets; each ticket is roughly interchangeable within its class, but you can’t fairly exchange a first class ticket for a business class ticket, even though the chair you’re sitting in is interchangeable with the same model unless you develop special accessories for that specific chair. Interestingly, fungibility can also be subjective. Going back to the airline ticket example: someone who cares about whether they have a window seat or an aisle seat might not consider two economy class tickets to be interchangeable. Similarly, a rare penny might be worth 1 cent to me, but might be worth more to a coin collector, and some of these nuances become very important when representing these items on a blockchain.

HOE is making every effort to develop NFT. In the future, NFT will definitely be an important trend of blockchain. The world's development depends on finance, financial development depends on blockchain, and blockchain development depends on DEFI. There is no doubt that NFT occupies an absolutely important position in this sector.

Shiro:

Thanks, assistant! You mentioned that we will make every effort to develop NFT, so how will HOE develop in the future? Can you share with us?

Chinese Assistant:

The HOE ecosystem contains 118 periodic mines. At the same time, HOE is the mother token of the ecosystem. It will issue its sub-tokens according to the periodic table, and each sub-token has its specific function.

According to the scarcity of elements, the scarcer the elements, the less they are issued. Scarcity makes things valuable. As the elements gradually decrease during subsequent element mining, prices will continue to rise. I am completely convinced of this.

At the same time, different elements can be synthesized into different substances. For example, one H and two O can synthesize HO2, etc. More complex NFT synthesis methods will be introduced later. Of course, things are precious because they are rare. Radioactive elements can be sold at sky-high prices. Of course, the beneficiaries will definitely be the participants in the whole process. Those who get the elements will get wealth. Friends who don’t know NFT or even blockchain can read more and learn more.

If you have any questions, you can ask me directly. I will reply seriously when I see it.

Shiro:

Thanks to the Chinese assistant. We are very happy to invite the Chinese assistant to our community live broadcast today. On September 4th, our first coin H was officially launched. We also hope that everyone will work together to create prosperity. This group live broadcast is over.