With the growing popularity of NFT, not only more and more giant enterprises and investors aim at this development prospect and enter the game one after another, but also the general public is more and more curious about NFT. From the hot discussion to eager participation, everything can be NFT is no longer a slogan of people in the industry.
2021 is called “the first year of NFT”. The valuation of some unique collections has risen rapidly, and the prices have frequently been sky-high. The artist Beeple spliced 5000 daily paintings he created together, made them into NFT for auction, and finally sold them for $69.34 million. Artists, stars and celebrities from all over the world quickly participated in it, which made NFT gain higher popularity and successfully attracted the attention of the public and any of the mainstream society. Luis Aureliano, a financial analyst and macroeconomic expert with 15 years of experience, said that NFT makes the blockchain closer to the general public.
Moreover, several traditional auction giants in the world, such as EARL AUCTION, Sotheby’s and Christie’s, have also begun to enter the NFT field. UK EARL INTERNATIONAL AUCTION LTD was founded in London by UK EARL Group in 1886, is one of the art auction houses with a long history in the world. In October 2021, EARL AUCTION spent US $50 million to acquire REVA, a start-up enterprise in the field of digital art NFT collection, making it a wholly-owned subsidiary. It said that after the acquisition, REVA will maintain an independent brand and independent operation, and become the core platform for EARL AUCTION to be responsible for NFT market business. In the future, EARL AUCTION, as the parent of REVA, will provide continuous financial, technical and resource support.
In a sense, the global NFT takes the art field as the starting point, the relevant applications and development are gradually promoted, and more and more individuals and enterprises enter one after another. REVA is a professional blockchain technology research and development enterprise. At the beginning of its establishment in 2019, REVA focused on NFT’s collection and trading market. Therefore, as soon as it entered the market, REVA quickly became the focus of many industry giants as a dark horse. In 2021, REVA became one of the seven most potential start-up encryption enterprises. After the acquisition of EARL AUCTION, the valuation of this young enterprise quickly reached US $500 million. Such a strong performance shows its extraordinary internal strength.
As a technology company, REVA’s core members come from the top teams of Silicon Valley companies. Many of them are industry leaders with keen eyes and sensitive business sense, which enables the company to have efficient research and development technology, promote the development of NFT platform and better serve NFT ecological groups. EARL AUCTION was optimistic about the core technical advantages of REVA, so it made a decisive acquisition and completed the important layout of transforming traditional auction houses into NFT.
With the strong capital support of EARL AUCTION, REVA, as the digital art NFT collection platform of EARL AUCTION, has made drastic and in-depth improvement, overturning the traditional enterprise’s cognition of auction. The NFT trading market established and maintained by REVA is different from the difficulties in the field of cryptocurrency in the past. It is difficult to access and operate, which makes the public backward. REVA reduces the threshold of digital art NFT collection through self-developed new technologies, making the digital world as simple and people-friendly as real life. Through the platform, users can easily view the digital artworks in the auction and understand the collectors and creative artists behind them. This decentralized reform provides a larger pool of potential bidders for serving customers and can also help more users enter this field.
An excellent platform is only the basis for REVA to build NFT unicorn. REVA’s vision is never limited to the field of digital art NFT collection. In the past two years, NFT has developed rapidly in the international market, involving more and more fields, including digital art NFT, virtual assets, games, domain names, tickets, etc. REVA believes that NFT can capitalize digital content, make data ownership clear, quantity transparent and transfer traces, and become a bridge connecting real-world assets and digital world assets. The platform created by REVA also conforms to the general trend and is strategically advantageous. It gradually arranges the industrialization of digital content in other fields, realizes the public blockchain reform through concept innovation and technology upgrading, and uses the characteristics of blockchain technology, such as distributed accounting, data tamperability, consensus mechanism, smart contract, token incentive, etc. Organically integrate blockchain technology with enterprises, so that users’ behaviors and data can be on-chain and recorded in real time, so as to achieve a more open and transparent effect, and enhance the stickiness with users, which plays an important role in users’ growth and expansion. As long as blockchain can be popularized, blockchain applications with more complete technology will be more trustworthy to users.
The fire of NFT market has gradually become to set the prairie ablaze. In this competition related to digital assets and real assets, more and more people quietly enter the market. As a pioneer in the blockchain industry, the attention of REVA is increasing. With the step-by-step extension of the scope and boundary of NFT and integration with the real economy, REVA shows its strong explosive power. The acquisition of REVA by EARL AUCTION is the combination of traditional auction industry and NFT digital field. It is the precipitation of trust and the accumulation of consensus, which is of far-reaching significance to the whole NFT field.