NFTs and the Metaverse — explained

Over the past few months, you’ve probably all heard something about NFTs, or Non Fungible Tokens, especially with the controversy that rose up around the sales of specific art pieces, where some ‘mad’ people spent thousands of dollars to purchase children’s drawings, extreme pieces of clothing they could never wear, or a house they could never live in physically.

NFTs are a new form of digital art. They offer great potential when merged with the technology we already know today.

Into the Metaverse we go

The word ‘Metaverse’ recently exploded from out of the blue when Facebook (excuse us, Meta) announced they were going to invest a hefty sum into the development of a Metaverse. While the details of their Metaverse are still unclear, we have our assumptions. Although this technology might have originated in the gaming world, it is so promising that we will surely see it break out and be applied across a spectrum of industries.

Decentraland is the closest to what the Metaverse could represent.

Avatar as an NFT

Now before you dive into the magical metaverse, that is not a video game, you need an avatar. You can either create one, if that is the option in your chosen metaverse, or you can import one. Now, what if we say that all the predispositions are for the avatar to be an NFT you can move between worlds? Although the original purpose of NFTs was for them to be a form of digital art; in practice, NFT technology has all the requirements to be any kind of digital asset. They are crucial for linking the physical and the digital world. In fact, that is already happening, as there are people acquiring avatars that can move across different virtual worlds.

Jadu Jetpacks represent a type of a digital asset that can allow moving from one metaverse to another, giving your avatar the ability to fly.

The assets of tomorrow

Metaverse, NFTs, avatars, and digital assets that give you the characteristics of a superhero may be far away as part of the ongoing development, but we honestly can’t wait for this type of modern technology becoming available to the wider masses.

If all goes well, soon we will be able to hang, work, or train in a variety of metaverses with people from all around the world.

Award-winning XR development studio developing captivating, immersive and mind-blowing experiences using virtual reality, augmented reality, mixed reality.