Why does the blockchain collection platform close the redemption of points？

　　"At the beginning, I spent 250,000 yuan to buy a set of" Return of Paratroopers "and" P indication ",but now it is only worth 3,000 yuan, shrinking by 99%. My total investment is more than 4 million yuan, and I lost millions. " Recently, many investors reported to the Beijing Youth Daily reporter that the blockchain collection platform "nice" closed integral mall in November, which caused many investors to spend hundreds of thousands and millions of yuan to buy goods for generating points to depreciate sharply.

　　Close the points platform due to financial problems.

　　"In the past, buying their collections at high prices would generate points every day, and the points can be exchanged in the mall. Now they have issued new regulations to cancel product points, and integral mall was closed on November 29." Consumer Mr. Zheng (pseudonym) told the reporter of Beiqing Daily that the latest regulations on the nice platform made him unacceptable.

　　The reporter of Beiqing Daily learned that integral mall came from a section launched by nice platform, in which some physical goods, such as prints, piggy banks, cards, etc., were regularly sold with the selling point of "blockchain traceability" and "collection attributes". These goods can generate points, which can be exchanged for some high-priced goods. A number of investors said that the CEO of nice platform said in the live broadcast and official WeChat group on Monday that the points can also be exchanged for high-value goods such as Porsche cars, Airbnb watches and Rolex watches.

　　Mr. Zheng said that he had purchased a large number of products that could generate high points. "I spent more than 500,000 yuan on the platform and generated 1,199 points every day. I have also exchanged some products before, such as Maotai and Dyson hair dryers, which are worth 2,000 yuan and 3,000 yuan, adding up to about 10,000 yuan."

　　Regarding the reason for closing integral mall, the platform staff said: "The company has no funds to continue to supply products from integral mall. Closing integral mall is a reform to continue the company’s operation." The platform does not comment on the losses of investors.

　　Some investors spend millions of dollars to enter the market.

　　"On June 21 last year, I spent 18,866 yuan to buy a plate. Since then, I have invested more than 4 million yuan on the nice platform." Investor Mr. Yan (pseudonym) told the reporter of Beiqing Daily that the plate of 18,866 yuan generated 10 points every day.

　　"At that time, integral mall was a watch where 30,000 points could be exchanged for 500,000 RMB. A few days ago, I only exchanged more than 50,000 points for more than 2,000 yuan. Now, integral mall is completely closed. " Mr. Yan said that there were enough convertible physical goods at first, and then the choice of goods became less and less, and most of them showed "sold out", and then the platform launched the "Jingbao" activity. According to the integral mall interface released by the official platform, users are divided into five different grades: glory, diamond, platinum, gold and silver, and can be assigned to different grades according to the points generated every day. Users can only compete for the corresponding products within their own grades. Each user can only change the same product every month. The number of products is small and the competition is fierce, and some popular products even need to be "quick" to grab. "Because there are fewer and fewer goods in the mall, investors have to bid for these actually worthless goods, and their assets have shrunk seriously." Mr Yan said.

　　After the closure of integral mall, the announcement in the mall on December 1st showed that the resale service of the Angel Medal card was started. According to the platform’s previously released product "Paratrooper Printmaking"+"P indication", 99 cards and 64 cards of "Medal of Angels" were exchanged respectively. According to the calculation, this set of cards purchased by Mr. Liu at a cost of 250,000 yuan is now only worth more than 3,200 yuan, shrinking by 99%. Many investors said that their investment was more than 500,000 yuan, and some people invested millions of yuan, which caused huge losses.

　　The number of "Limited Collection" is duplicate.

　　In view of the "limited collection" in the mall, some investors have vomited, and some so-called limited collections are "numbered repeatedly". The print number named "The Instructor" is 0014, and this number was traded four times on October 22nd only, and the price was the same. Similar situations have occurred in many collections such as No.0056, No.0250, No.0011, etc. "The official print collection has no value at all, and it has no value for selling collection and secondary market." Nice officially acknowledged this behavior, and then released the notice of print number adjustment of Instructor.

　　lawyer

　　The platform’s promotion of points may be suspected of "fraud"

　　Nice was originally a platform for reselling sneakers. The company’s financial report revealed that in the first quarter of 2022, the revenue was 527 million US dollars, up 15.9% year-on-year, and the cloud revenue was 295 million US dollars, up 29.2% year-on-year. As early as September 24th, 2019, nice launched a 7-day flash purchase full reduction activity. Flash purchase did not need to be delivered, and a large number of users made purchases and resale operations, and the price of single products changed. At one time, the free toy paratroopers given by supreme in the opening season rose from 50 yuan to 2,200 yuan. On September 27th, Zhou Shou, the founder and CEO of the company, issued a letter of apology and expressed his willingness to take responsibility. nice officials came forward to buy back the flash-purchased goods involved in illegal and abnormal price transactions from September 24th to 26th.

　　Why is the hype repeated? Fang Chaoqiang, a lawyer of Beijing Yingke (Hangzhou) Law Firm, believes that: First, the behavior of this means is relatively "smart" and hidden, and it is difficult to judge whether it constitutes collusion from the law enforcement level; Second, the scarcity of products can be created through large volume without collusion; Third, a considerable number of people were lured by huge profits and acted as "leeks". The more people participated in the "pass the parcel", the higher the price; Fourth, there is a so-called "trendy" platform, which acts as an online trading market for hype, but it is neglected in platform supervision.

　　Lawyer Xu Guilin of Beijing Times Jiuhe Law Firm told the reporter of Beiqing Daily that the platform’s promotion of points and its follow-up practices were "false propaganda" or suspected of "fraud".

　　This group/intern Mei Jinghan Our reporter Wen Jing Co-ordinator/Chi Haibo