Displacement, synthesis ......Digital Collections 2There are more and more ways to play in the 0 era, but it seems that the hype bubble has not dissipated. Blue Whale Finance noticed that the staring chain APP shows that the market value of the digital collection platform hotdog has exceeded 60 billion, followed by the market value of ibox is 1.1 billion, and the market value of newbee has reached an astonishing 112 billion.
Industry insiders told Blue Whale Finance that the calculation of the market value of digital collections is different from the ordinary market value, and only refers to the market value of **. For example, if the price limit of a collection is 100 million, 10 collections can reach 1 billion. That is, according to the algorithm, when a single collection** is hyped to a certain height, the market value of the entire platform will also increase exponentially.
Taking the digital collection of HOTDOG "Hanshouting Hou Guan Yunchang" as an example, its single transaction price is 88,888 yuan, and the total circulation is 100, that is, the market value of this collection reaches 8.88 million yuan.
In this regard, lawyer Liang Chen analyzed to Blue Whale Finance: "The digital collections on the platform of such digital collections are based on the valuation, based on a single transaction price, but the number of releases is determined by the platform itself, and this valuation has strong subjectivity. In the market, investors will not take such a single valuation method as the standard, but will also consider sales, net profit, historical financing valuation, brand history, user reputation and other factors to make a comprehensive judgment. It should also be noted that whether the platform is standardized for the issuance of digital collections and whether it can establish a sound and reliable management system will affect the valuation method and whether the final valuation can be accepted by the market. ”
Liang Chen added that in terms of valuation, the valuation methods of companies in different industries are different, such as asset-heavy industries usually use fixed assets as the base multiplier to equal the total valuation of enterprises;Asset-light industries typically value businesses at multiples of sales or net profitCompanies in the Internet industry are usually valued based on key data such as the number of daily active users and the average consumption index per user. However, there is no standard answer to the valuation itself, and the company's own valuation is usually high, and the acquirer will have its own judgment and may face a certain discount when the real transaction is made. In addition, the transaction price of historical equity financing is also an important reference for valuation, after all, it has been recognized by real investors, and the more professional and recognized the investor is, the more convincing the valuation corresponding to the transaction price will be.
*It has been reported that users buy digital collections in the "circulation center" in hotdog, and the platform charges a 10% handling fee when they resell them again. In other words, when the frequency of transactions increases, the more commissions the platform will take.
According to the Black Cat complaint platform, Hotdog was complained about problems such as forced replacement and inability to consign collections, with a total of 115 complaints. One user said: "I bought 30 collections to sell digital collections on the Hotdog app and put them on the market for trading. However, the hotdog platform suddenly removed my products from the shelves and canceled the consignment, and the hot dog platform did not negotiate with the user, and directly forced the replacement or removal of our products, resulting in my digital collection having no value and not circulating, which is a forced zero. They use this method to continue to force the old collection to zero and then issue new products, maliciously shorting and then selling their own goods. The transaction records have also been emptied, and now the invoice cannot be issued and cannot be issued. ”
Blue Whale Finance noticed that there are a large number of "insider groups" who know the news in advance on Hotdog's post bar, as well as "scientists" who use plug-ins to grab collections after consignment. Some users in the industry once told Blue Whale Finance that in the digital collection market, "large households" with a certain amount of positions will be pulled into small groups and join forces with other "large households" to jointly and consign collections, so as to control the market, and even obtain the power to dock with the platform party and obtain information on consignment collections in advance.
"Arbitrarily close the consignment of user collections, restrict user realization, forcibly replace user collections, and infinitely send new pictures to make rat warehouses. It operates in the mode of a financial exchange, but does all kinds of illegal and criminal things. In the post bar, some players complained.
It will also most likely constitute consumer fraud, or even criminal offenses such as fraud. It is recommended to hire a professional lawyer to conduct compliance review and criminal risk screening.
Lawyer Liang Chen analyzes that if it is true as some users say, the platform has chaotic rules for publishing digital collections, and even removes the digital collections purchased by users from the shelves for no reason, infinitely sends new pictures indiscriminately, and secretly manipulates **, which not only hurts the trust of platform users, affects the reputation of the enterprise, and is not conducive to the long-term development of the enterprise, according to Tianyancha APP, Petal Ding Network was established in July 2018 and is a social APP involving trendy toys and footwear. In February 2022, Valvetop Network completed the industrial and commercial changes, adding auction business, art**, and daily necessities sales. During the same period, Hotdog added a new digital art section within the platform, and the issue price increased from 9$9 to $59Ranging from $9.