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The Path to Product Excellence: Avoiding Common Pitfalls and Enhancing Commun...
The NFT And Metaverse Investing Book : Beginners Guide To Making Money In Virtual Real Estate, Digital Art, Video Games And Blockchain
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3.
4. THE NFT AND METAVERSE INVESTING
BOOK
Beginners Guide To Making Money In Virtual Real Estate,
Digital Art, Video Games, and Blockchain
DANIEL A LEWIS
DTX Publishing Co
6. Table of Contents
Chapter 1
Introduction
What is the Metaverse?
Metaverse vs. Multiverse
Evolution from Web 1, Web2, Web3 to the metaverse
How (and when) the metaverse came about
Why has the Metaverse become so popular recently?
Seven Fundamental Metaverse Attributes
First metaverse attempts
How does the Metaverse work?
Examples of virtual worlds similar to the Metaverse
Classification And Different Types Of Metaverses
What is a job in the Metaverse?
What do I need to enter the Metaverse?
Chapter 2
The foundations of the Metaverse
Challenges, risks, and drawbacks of the Metaverse
Critics of the Metaverse
Chapter 3
Facebook changes its name
Companies that bet on the metaverse
Technologies for metaverses
Chapter 4
Metaverse Use Cases
What makes metaverse constitutive evolution, and how does it work?
Chapter 5
Blockchain and Crypto
Metaverse and cryptocurrencies
What is the relationship of the metaverse to the crypto market?
The role of cryptocurrencies in Metaverse
What are the metaverse-driven cryptocurrencies?
10 Of The Best Metaverse Cryptocurrencies That Can Be Exploited
How to buy properties in the metaverse, a new investment that will increase your profits
How to Purchase Real Estate in the Metaverse
7. Chapter 6
What is an NFT?
What You Need To Know
How Does an NFT Work?
Characteristics of NFTs
NFT (Non-Fungible Tokens) Value?
How are NFTs used?
How NFT can be used in Metaverse
NFT metaverse types
Why do people buy NFTs?
Why is Ethereum used?
Relation between NFT and Metaverse
What Impact Will NFTs Have On The Metaverse?
How to create NFT
How to create and mint NFTs
What is NFT minting?
Which Tools Should You Use to Create NFT Artwork?
How to make Money with NFT
The opportunities and challenges of this market:
Chapter 7
How to invest in Metaverse?
What Are The Opportunities For Investors?
The Metaverse Market Opportunity
The Economy Of The Web 3.0 Metaverse
How To Invest In The Metaverse 2
Conclusion
8. Chapter 1
Introduction
The Metaverse, a futuristic utopia that seeks to unite the real and virtual
worlds, left the pages of science fiction books and ended up on the tables of
investors and large companies. The potential surrounding this idea is so great
that it even made Facebook change its name to "Meta."
This guide will explain the Metaverse, when it came into being, and why
big conglomerates want to ride the wave. It also reveals how to invest in this
new market and the relationship between this universe and cryptocurrencies.
What is the Metaverse?
People can work, socialize, transact, play, and even create in the Metaverse,
which is a persistent, massively evolving network of interconnected virtual
worlds focused on real-time interaction. It fully immerses the user in the
virtual world using virtualization and advanced technologies (AR, VR, haptic
sensors, and so on). This means that the user can interact in real-time with an
always-present world that he can access whenever he wants.
Many proponents believe that the perfect futuristic version of the
9. "Metaverse" would consist of a single platform where you would have your
personality, your identity, and connected platform services, under which
many worlds would be created and which you could access. Like a world
with many sub-worlds that you can join, leave or even create. Important
factors remain the definition of digital identity, digital ownership, digital
currencies, and the universal transferability of digital assets – enabling a fully
functioning economy in a virtual world.
Thus, the Metaverse could replace several aspects of how tourism works,
the meaning of a concert, the discovery of art exhibitions. Still, above all the
way people learn, study, interact, and even meet friends.
Metaverse vs. Multiverse
Another concept that must be clear in order not to fall into confusion is the
multiverse. This term refers to the fact that there are universes other than
ours, which would mean the existence of realities other than ours.
Therefore, both terms have nothing to do with each other. The Metaverse
aspires to be a perfect simulation of our reality or of infinite
fiction. Meanwhile, the multiverse is the theory that affirms the existence of
universes equal to or different from ours with different characteristics from
each other.
However, it should be noted that multiverses can occur within a
Metaverse, and therefore, Metaverses within a multiverse. This would mean
equating our physical reality with virtual, like different existing universes.
In this aspect, on a cultural level, the multiverse can be referred to in DC
and Marvel comics, and in television series such as Rick & Morty, among
others.
Evolution from Web 1, Web2, Web3 to the metaverse
10. Although there is no clear consensus on the definitions of Web3 and the
difference of the Metaverse, there is a lot of discussions. Many crypto
enthusiasts like to believe that crypto is the next stage of the internet. In
contrast, others argue that after Web2 based on social interaction, we will see
the leap into the immersive internet called "Metaverse." So far, it's unclear
where to draw the line and where to make the difference, but the discussion
will continue whether Web3 is made up of crypto and blockchain or an
immersive internet with virtual worlds.
Web 3.0
Although it has recently gained relevance, the Metaverse can be
considered a "natural evolution" of the web. That's because, just like 3G, 4G,
and 5G technology, internet browsing has also developed over generations.
In web 1.0, most of what you could access on the internet were chats,
forums, static sites, catalogs, and email clients.
At the time, this limitation was linked to the very technological frontiers
that presented themselves: even if it were feasible, it made no sense to build
sophisticated digital platforms if the connection and the users' devices were
not able to access them.
With web 2.0, made possible in large part by the spread of broadband, it
has finally become possible to build platforms, social networks, and blogs.
Because of the higher connection speed, video streaming, video calling,
and media transfer, in general, became commonplace for most of the
public. From a social perspective, the second generation gave the internet
user a voice, allowing users to generate content instead of just consuming it.
Semantic internet
With the Metaverse, there are those who say that the world is already
preparing for the arrival of web 3.0 or even the "semantic web."
In this generation of the internet, the massive use of resources such as Big
Data Analytics and the constant capture of data, added to the greater
connectivity capacity and Cloud Computing, would allow all online
11. information to be integrated.
In practice, the contents that make up the world wide web could not only
be easily accessed by machines and human beings but understood in an
analogous way by both.
In short, it can be said that the internet would be "endowed with
meaning," in a way that smart devices would understand the nature of a given
content, instead of seeing it only as a set of data or information, as they do
today.
5G Could Take the Metaverse Even Further
With a profound impact on all current digital trends, the fifth generation
of mobile networks must also play an important role in the construction of the
Metaverse.
This is because, even today, an infinity of data is created every day,
requiring a wide connectivity infrastructure to transmit this information; with
the reproduction of entire worlds in virtual format, this relationship tends to
become even more important for experiences online.
In this scenario, the defining characteristics of 5G, such as high speed and
stability in web traffic, will be essential for an immersive experience without
interruptions.
Furthermore, especially with regard to mobility, technology is also to be
expected to affect the experience of the Metaverse. Whether in the devices,
which can be connected without the need for wires or in the possibility of
being able to access the Metaverse from wherever the user is.
And how does all this impact your business?
This is perhaps the most difficult question to answer at the moment, at
least very precisely. However, since the internet, as it was and is today, has
multiplied many times the possible ways of doing business, it is not an
exaggeration to imagine that the Metaverse will have a similar effect.
Imagine the possibility of launching a completely virtual clothing brand
just in a Metaverse? What if watching movies, shows, and theatrical
12. performances in these online environments is possible? Is it possible to
charge for popcorn?
In addition to marketing virtual goods and services, the Metaverse (or
Metaverses) must also change our offline lives. For example, from the
environment to be created by Microsoft, it is expected that the work
dynamics, already digitized by social distancing, will change even more.
The same can be expected from teaching and entertainment.
So, whether selling digital goods or using this VR-based environment to
enhance a "real" activity such as work, the arrival of the Metaverse will
strongly impact companies, both directly and indirectly.
In turn, experts say that this impact will be in the long term. At the same
time, however, they indicate that the Metaverse can give rise to previously
unimaginable business models and reinvent existing ones.
And, as usual, there is no better way to anticipate and prepare for these
changes than with modern technology.
Managers must act now
While the Metaverse does not arrive, in fact, it is possible to invest more
in IoT (Internet of Things) to capture data, which will be important for a
reliable representation of the real world.
Additionally, it is mandatory to be supported by the cloud since this
infinity of information travels and has robust connectivity and IT
infrastructures to support this new approach to the web.
It's still going to be a while before the Metaverse consolidates
While several elements that will make up this digital universe are already
producing effects today, it is expected that the more sophisticated
possibilities of the Metaverse, such as playing sports and playing cards
virtually with your coworkers at lunchtime, will take a few years to develop.
This is mainly because much of the technology needed to access and
maintain this more "tactile" web is inaccessible to most actors in the current
virtual ecosystem.
13. To use the Metaverse in all its glory, for example, users are expected to
have ultra-fast and resilient internet service and to have, at the very least, a
sophisticated pair of virtual reality glasses capable of detecting movement,
Not to mention the other accessories.
Even in the corporate context, not all companies will be able to perform
in this environment initially. Thus, the idea is that the Metaverse
phenomenon will take a few years to become widespread and
accessible. Additionally, it is expected that there will be multiple Metaverse
with the most varied purposes and functionalities.
At Meta, Mark Zuckerberg hopes to start testing the novelty as early as
2022, promising the full version for the following year.
Likewise, the giant behind Office has already announced Microsoft
Mesh. The launch is its first step in creating a Metaverse within the Teams
video conferencing platform, which should also be available from 2022.
However, given the aforementioned limitations of cost, infrastructure, and
even content, which will have to be gradually overcome by developers and
users, the full immersion promised by the technology will still take a long
time to arrive. However, nothing prevents organizations from preparing their
technology parks for this scenario.
When will the Metaverse be available?
Another unknown is when the Metaverse will come into operation. The
decisive commitment of Facebook and other technology companies can give
the final push to make it a reality in the short-medium term. "I see it feasible
within three or four years. When pilot projects begin to spread, technology
accelerates because investment capital enters, and it begins to be a wheel that
does not stop", warns the expert. Some of those steps in the technology sector
are :
⦁With almost 2.8 billion users, Meta has invested 150 million in app
development.
⦁Chip and semiconductor maker Nvidia is already working on
14. the Omniverse platform to do advanced real-world simulations.
⦁Microsoft wants with its mixed reality software to facilitate presence and
shared experiences from anywhere on any device; in 2022, Mesh will
complement the current Teams.
⦁The Unity 3D development platform invests in digital twins, digital
copies of real-world objects.
⦁And Roblox, in its quest to excel in the educational sector, is immersed
in the development of video games that teach robotics, space exploration, and
concepts in engineering, computer science, and biomedical science.
For this virtual universe to work, payment systems or currencies are
essential, which are already beginning to sound familiar to us. There are
cryptocurrencies, like 'mana' in Decentraland or 'starl' in StarLink. But also
the non-fungible 'tokens,' the so-called NTF (Non-Fungible Tokens), digital
certificates of ownership and authenticity that ensure the origin and
authorship of a virtual asset.
What can be done in the Metaverse
In this immersive Internet, we will be able to carry out everything that we
do today in our real world, but without leaving our house. Thus, we can play
online, interact with others at a distance, flirt, do job interviews, go shopping,
work, learn, go to the gym, attend concerts, visit museums, go sightseeing.
And when it is an indistinguishable world, as Rayón says, we will make
transactions between both universes. For example, we will work in the
Metaverse, get paid for it in cryptocurrency, and use it in the real world to
buy food.
It will change our way of consuming. And Meta is already testing how it
could be. In a neighborhood in Seattle (USA), he has rented several business
premises that went bankrupt due to the pandemic to have shop windows with
screens and QR codes leading to his Metaverse where the virtual stores you
can buy are.
How to enter the Metaverse, in addition to QR codes? As consumers, to
15. access this digital world, you will need to be equipped with immersive reality
headsets (VRS): virtual reality, augmented reality, or mixed reality headsets
or glasses. Controls, smart clothing, applications... will be essential. Of
course, at least one 3D avatar of us (resembling us as much as possible) will
also be essential. And for it to behave like us, we must have other sensors and
devices that interpret our movements and expressions.
How (and when) the metaverse came about
Despite having recently become pop, the term Metaverse is an old one. He
was coined by writer Neal Stephenson in his science fiction book "Snow
Crash," published in 1992. The work tells the story of the "Hiro Protagonist,"
a character who is a pizza delivery boy in "real life" but in the virtual world.
– called the Metaverse in history – is a samurai.
In 2011, writer Ernest Cline also addressed the topic in his futuristic
novel "Ready Player One," which in 2018 won the movie screens at the hands
of Steven Spielberg. In work, the characters live in a dystopian world and, to
escape reality, they usually spend hours and hours in the OASIS. This virtual
simulator gives them the possibility to be whatever they want.
Why has the Metaverse become so popular recently?
We have lived in a 2D digital space for many years, where digital content is
accessed through 2D screens and devices, and the next innovation is, of
course, 3D. Many businesses are working on creating a 3D digital world, but
the technology isn't quite there yet. Not only does creating 3D digital objects
require a ton of time and expertise, but storing, rendering, and accessing 3D
content is expensive. But technology is improving every year.
Most of us have been forced to work from home and collaborate remotely
as a result of the pandemic. Thanks to remote work, communication, and
16. collaborative innovation have accelerated at a much faster rate than ever
before. Many innovations in the field of remote communication have already
occurred, with products such as Zoom, Microsoft Teams, Google Hangout,
YouTube Live, Facebook Live, and LinkedIn Live gaining popularity for
video communication, meetings, and live telecasts. Lifelike 3D shapes and
avatars are the natural next generation of communication and
collaboration. We can glimpse a 3D world where multiple people join
Microsoft Teams in 3D holograms, sitting in a meeting room,
However, two of the biggest announcements this year came from the
CEOs of Microsoft and Facebook. Microsoft CEO Satya Nadella
demonstrated the next-generation mixed reality device, HoloLens 2, as well
as the upcoming Microsoft Mesh platform and integration with third-party
AR/VR devices at Microsoft, Build to connect and collaborate with people
anywhere, at any time.
Later, the Facebook CEO announced that Facebook would change its
name to "meta" and focus on the Metaverse as the next goal of its product
roadmap.
Although the idea of the Metaverse has been around for years, the
technology to make it a reality did not exist, 3D objects require a much faster
internet, greater data storage, better computing, and AR/VR/XR devices to
present the 3D objects in real-time.
Seven Fundamental Metaverse Attributes
Persistence: The Metaverse will continue to exist without
interruption indefinitely.
Synchronicity: Events will occur in real-time, just as they do in
real life.
Accessibility: There will be no limit to the number of people who
can connect and experience an event at the same time.
17. Economic function: The Metaverse's economy will be fully
functional.
Assets will be available for participants to buy, sell, trade, and
own.
They'll be able to start businesses or work for cryptocurrencies as
well.
Scope: The Metaverse will be able to encompass both the digital
and physical worlds, as well as open and closed platforms.
Interoperability: Digital assets will be usable across the
Metaverse seamlessly. Also, unrestricted use and sharing of
resources between many different worlds will be possible.
Contribution: Many different participants will create content and
experiences, and the participants will largely determine how the
Metaverse evolves.
First metaverse attempts
Some projects have tried to create something similar to a Metaverse. One of
the main examples is the game Second Life, launched in 2003 by the
company Liden Lab, based in the United States. The game is a 3D virtual
environment that simulates real life. Upon logging in, users can create avatars
and socialize with each other.
The game attracted thousands of gamers but fully united the real and
virtual worlds. One of the reasons is that the project was not able to create a
digital economy in which people could make money or even have a virtual
property, something that is possible nowadays.
Games like Roblox, Fortnite, and Minecraft also drink from the
Metaverse concept and present some elements of this new universe. In these
games, people have their own characters, participate in quests, bond with
each other, and go to events. The American singer Ariana Grande did a show
18. inside Fortnite, for example.
However, it is worth remembering that the proposal of the Metaverse
goes beyond online games. The idea is that all aspects of a person's "real life"
– leisure, work, relationships, study, and others – are immersive permeated
by digital, and vice versa.
How does the Metaverse work?
The Metaverse can be divided into two types of platforms. The first involves
using NFT and cryptocurrencies to create Metaverse on the blockchain,
where people can buy virtual land and create their setup on sites like
Decentraland and The Sandbox.
The second platform uses the Metaverse to create virtual worlds where
people can meet for business or pleasure. Either way, people who buy or
exchange virtual assets on blockchain-based platforms must use
cryptocurrencies.
Users of this Metaverse can exchange NFT artwork or charge for
admission to a virtual show or concert at Decentraland. They can also earn
money by selling land or playing video games.
And those who work at home will now be able to interact as if they were
present in a real office. Ultimately, one of the benefits of the Metaverse is
"presence," that is, a feeling of being physically interacting with places and
people rather than screens.
Examples of virtual worlds similar to the Metaverse
As we had commented previously, the concept of the Metaverse is not
something that has emerged today; it is more, it was born almost 30 years ago
when in 1992 it was named for the first time in the science fiction novel,
written by Neal Stephenson, and titled Snow Crash.
19. This means that there have been cases of virtual worlds over the years
that intended, to a greater or lesser extent, to recreate the concept of the
Metaverse. So that you can get a better idea, here are some examples:
Second Life
This is the purest attempt to date for a Metaverse as such. It consisted of
software that allowed users to create their avatar and enter a virtual world.
They could move freely, interact with other connected users and make
purchases of clothing or property, for example, like a video game but with a
much greater purpose than a video game.
When it was released in 2003, its main problem was that it was too far
ahead of its time, unable to further develop the Metaverse concept due to the
limitations of the existing technology. Despite this, in 2007, it had 1.1 million
active users, and today it is still active and progressively updated.
Ali Metaverse from Alibaba
The Chinese powerhouse is still in the early stages of development. Still,
it has already filed for several Metaverse-related trademarks and declared its
intention to compete in this tech race. Ali Metaverse is the first brand to join,
but Taobao and Dingding Metaverse are also on board. It's just a matter of
waiting a little longer to see what's left.
Video games like Minecraft or Fortnite
Despite having a marked playful and entertaining character, video games
such as Minecraft, Fortnite, and others have proven to be clear examples of
what the future Metaverse can be like and how it could affect us.
In the case of Minecraft, it is a video game in which you enter a virtual
world where you can do practically anything, get materials to build your
house or any other building you can think of, hunt animals or plant a garden
to get food, explore the world with total freedom, trade and talk with other
users of the server, etc... It is a living virtual world to create an alternative
reality to the real world. Its only limitation would be aesthetic since all the
3D models are generated by cubes, making the immersion less.
20. On the other hand, Fortnite allows users to create personalized maps to
participate in various activities, far from conventional battle royale-style
games. In addition, Epic Games itself, the game's developer company, has
carried out several macro events within the video game itself, such as the
Marshmello concert that more than 10 million users experienced live.
Facebook Horizon
It is a virtual reality software developed by Facebook and designed as a
virtual world where users can create their avatar, move freely and interact
with other users. It is the first attempt by Facebook to create a social network
in virtual reality to interact with family, friends, or even strangers through
virtual reality and the Internet, making virtual encounters possible regardless
of where users are.
Due to the health crisis of covid-19, Facebook also decided to use it as a
tool to hold virtual meetings of a professional nature, generating virtual
spaces set in the business environment such as offices and meeting rooms.
Despite having a not very immersive aesthetic, the use of Virtual Reality
managed to increase the immersion capacity and minimally approach the
concept of the Metaverse.
Without a doubt, the Metaverse is a general idea and still in a conception
phase, but that is beginning to take shape and for which more and more
companies are going to invest both time and resources.
Classification And Different Types Of Metaverses
The study of this type of phenomenon has been long, so it should not surprise
us that there is a classification (academic at least) for the Metaverse.
Already by 2007, we found a compendium called "The Metaverse
Roadmap: Pathways to the 3D Web" where there was not only classification
but what constituted the first public survey of forecast and vision of ten years
of 3D web technologies, applications, markets, and potential social impacts.
21. Among other things, we found a classification of Metaverses according to
technology and approach.
Based on the one hand on the technology used (whose extremes would be
simulation and enlargement) and on the other on the Metaverse approach
(intimate if it focuses on the identity of the user and external if it focuses on
the world ), we have the parameters to classify at least four types of
Metaverses.
Virtual worlds
Virtual world systems will allow much of a community's economic and
social life to take place" in "areas or disciplines where the physical world and
the Metaverse remain distinct.
Virtual worlds arise from combining simulation technologies and a closer
approach to the user. They are immersive representations in an environment
where the user is present within that reality, generally, such as representation
through an avatar. Examples of virtual worlds would be Second Life or
World of Warcraft.
Mirror worlds
Mirror worlds will be like Google Earth - digital representations of
geography - but with advanced technologies used to add high degrees of
context to "virtual models of reality." They originate from the intersection of
simulation technologies and focus on the most external section related to the
world. They are virtual models that emphasize the information by mimicking
the real physical model, including maps and geolocation sensors. Like
Google Earth, mirror worlds will present world images, potentially overlaid
with more detailed and relevant information.
Augmented reality (extended)
Extended reality would encompass the extension end of technologies but
with an outward-focused approach. Being a location-aware and auto-tracking
technology, it enables users to get instant data about places and things
digitally at any time. These tools will expand the physical world external to
22. individuals through the use of geolocation systems and interfaces that process
and place the information on the network in a layer above our usual
perception.
Lifelogging
According to the draft report, lifelogging is defined as "the deployment of
augmentation technologies (that) focuses more on communication, memory,
and observation of other people than on the examination and control of the
physical environment." The Lifelogging classification groups together
technologies that expand our vital circle and those that are close to our vital
circle. The systems keep track of objects and users' states and life histories in
this area. People would use technology to record almost everything that
happens around them, a kind of always-on blogging in 3D; With the arrival
of smartwatches and all the technologies that collect our data, this approach
should not seem strange to us. Old examples of this would be Nike +,
Autographer, or Fuelband.
What is a job in the Metaverse?
As previously stated, the Metaverse will bring all aspects of real life together
in one location. While many people already work from home, you'll be able
to enter a 3D office and interact with your coworkers' avatars in the
Metaverse. Your work may also be related to the Metaverse and provide you
with directly usable income in the Metaverse. In fact, these types of jobs
already exist in a similar way.
GameFi and play-to-earn models now provide consistent income streams
for people all over the world. These online jobs are ideal candidates for future
Metaverse implementation because they show that people are willing to
spend time living and earning money in virtual worlds. Axie Infinity and
Gods Unchained are two play-to-earn games that don't have avatars or 3D
worlds. However, it is the beginning of something where they could be a part
23. of the Metaverse as a way to make money entirely in the online world.
What do I need to enter the Metaverse?
Each Metaverse is literally a world, and each one has its characteristics, so
you will not need the same to enter one or the other. Next, we will leave you
a list of all the devices with which you can enter the Metaverse.
Mobile phone
This device is the one that will make you feel the least immersive and
multisensory experience but remember that not all Metaverses are equally
complete and powerful, so perhaps your mobile phone is enough for what
you want to do in that particular Metaverse. Also, remember that the
Metaverse will be available to everyone, so it is vitally important that it can
also be accessed from a mobile phone.
Laptop or desktop computer
Thanks to a large screen compared to a mobile phone, controls that allow
you to do any action easier and faster, and a more immersive sound system,
the experience will be more immersive and complete than entering the
Metaverse with your mobile phone.
Virtual reality glasses and controllers
With the combination of these devices, you will achieve the most
complete immersive and multisensory experience in the Metaverse. Thanks
to the virtual reality glasses, you will feel completely immersed in what you
are doing, since in addition to encompassing your entire field of vision, they
are capable of following the movements of your head. If we add to this the
use of controls, the experience is considerably enhanced since you can pick
up objects and use your hands as you would in real life.
24. Chapter 2
The foundations of the Metaverse
Before going into the technological details, let's take a look at the different
elements and foundations that must be in place to enable the creation of a
Metaverse. Creating a virtual world where you can control all aspects and
where you feel like you are directly in that world presents many challenges.
Hardware and infrastructure
Due to massive amounts of data, 3D processing, and also live interaction,
there is a huge need for a suitable IT infrastructure. This includes network
technologies of 5G and future 6G networks, cloud computing, and super-
specialized virtualization hardware with the development of GPUs, TPUs,
and CPUs for server-side hardware requirements.
The consumer side of things is where special hardware is required for the
immersive experience. Smart glasses for virtual and augmented reality, haptic
feedback devices (gloves, suites, etc.), and even mobile phones with more
processing power are required.
Tools and standards
Common standards and tools need to be in place to make the Metaverse
truly interactive. These include computer languages, easy-to-use design tools,
25. common 3D engines, VR/AR/XR standards, asset market standards, security
standards, transfer protocols, and more technological standards such as
geospatial mapping.
Payment and transactions
An important aspect of any Metaverse is a functioning ecosystem. A
universal mode of transaction and payment must be found for this to
work. This poses challenges on many levels, as each ecosystem may have its
own payment and transaction methods, making it difficult to connect
different worlds.
Regulatory frameworks and rules
We need regulatory frameworks and social rules in place, just like in the
real world. One of the most difficult challenges will be managing and
enforcing these rules in a virtual world. To ensure that users are safe, we
must consider global rules and even laws that govern the virtual world.
Identity management and avatars
A virtual world with a virtual identity may seem interesting, but verifying
the real identity is also essential to ensure that it is also safe and not an
"outlaw" world. For this to happen in many worlds would require a common
protocol and something like a meta-identity that can be linked to own avatars
and therefore be able to use avatars and identities in many virtual worlds.
Virtual ecosystem
Various use cases also require a functioning digital economic ecosystem
from advertising networks to stores, virtual jobs and payments for games,
social interactions, e-sports, and even online shopping. The creation of this
economic universe is very important to encourage more users and companies
to participate, create and share.
Challenges, risks, and drawbacks of the Metaverse
Economic disbursement
26. To access the Metaverse, you have to have expensive and
adequate software, hardware ... not very affordable for most. Only virtual
reality glasses already have a price of around 500 euros. "The Meta pilot with
businesses in Seattle is proof of an inclusive, equal system. The mobile has
triumphed by carrying four devices in one. I don't think I'm going to go for
the glasses. It has to be the mobile", says Alex Rayón bluntly. And the
usability of the system is also an important aspect. The digital divide would
widen.
Emotional or psychological repercussions
Not leaving home at all, even though you can spin in a virtual gym, can
make us fall into a sedentary lifestyle or neglect our real social
relationships. But according to Sergio García Soriano, a clinical psychologist
at the Official College of Psychology of Madrid and an expert in addictions
and social intervention, " a human beings can differentiate between reality
and fantasy. In principle, if it is useful and not an abuse of the virtual, there
should be no repercussions". However, he points out two types of people
most vulnerable to this virtual world:
Those who have suffered psychotic or epileptic episodes where
the presence and stability of the stimuli are necessary. It will be
necessary to observe it "so as not to alter its reality and generate
psychic changes that could be counterproductive."
Digital people who do not see danger in social networks; for them,
"it could become an addiction. They would avoid face-to-face,
analog, and it would be a resource to hide or calm their complexes
and their low self-esteem. Those who have a shopping ⦁addiction
or social media addictions would be more likely to substitute their
current 'disorder' for the contents of the Metaverse. Being a digital
native would increase the propensity to take refuge in the digital if
you have problems in your real life", explains the psychologist.
27. Adaptation of laws
Two decades ago, with Second Life, the legal risks that the Metaverse
would entail were already raised, as Jorge Campanillas, a lawyer and an
expert in new technology law, recalls. "The problems are going to be the
same as always in terms of fundamental rights, such as privacy and data
protection, identification of the avatar (who is really behind it), or intellectual
property (everything that is created in the Metaverse must be protected) or the
rights of users in electronic commerce, "he lists. But Campanillas does not
believe that new laws are necessary, but rather to adapt the existing
regulations to the new virtual reality environments and that everyone
complies with them.
Towards a monopoly or oligopoly?
Are we moving towards a world managed by a single company or a few
companies? "We will be in the reality of a company, so we will be attached
and accepting its conditions, terms, and services, but governments and
jurisdictions are the ones that must protect us as users and consumers.
For a company to control everything would be a problem because it
would be privatizing a space that should be public. If we define Metaverse as
the natural coincidence between a digital and physical space, it is as if a town
square is made by a company and governed by a company. That is why it is
important to regulate it at the source.
Critics of the Metaverse
A half-real and half-virtual future are not for everyone. Centralization,
privacy, and addiction are some of the fears raised by experts.
Centralization
The concept of the Metaverse is still under construction, but the idea
behind the utopia, especially the one advocated by cryptocurrency market
enthusiasts, is for it to be decentralized and open to everyone. However, the
28. entry of companies like Facebook and Microsoft into the game suggests that
big techs will do everything to control part of this market somehow.
Privacy
Because of the possible centralization of the Metaverse, the issue of
privacy also came to the fore. If companies like Facebook, Google, and
others already have a world of data on the users of their products and
services, imagine when people start to live connected 24 hours a day.
Addiction
Another criticism has generated criticism because the Metaverse is a type
of addictive technology that makes people disconnect from reality. In the
movie Player #1, the character James Donovan Halliday (Mark Rylance),
creator of the OASIS Metaverse, said at the end of the feature that he realized
he created a virtual reality because he was afraid to relate to people.
30. Facebook changes its name
In the midst of the buzz around the term, Facebook Inc. announced in
October 2021 that the organization would be renamed Meta (the social
networks remain under the same name). In the announcement, the founder
and president of the company, Mark Zuckerberg, said that the change is due
to the new positioning of the group:
"Today, we're known as a social media company, but our DNA is as a
technology company that connects people, and the Metaverse is the next
frontier, just as social media was when we first started."
In a letter released to the public, Zuckerberg detailed the virtual world
that the company, which is in the crosshairs of the US antitrust authority,
hopes to build:
"You'll be able to do just about anything you can think of in the
Metaverse, including gather with friends and family, work, learn, play, shop,
and create – as well as have completely new experiences that don't really fit
how we think about computers or telephones today."
Facebook's "dating" for the Metaverse is old, and commercial interest is
nothing new. In 2014, the group bought Oculus, a company that makes
virtual reality headsets, and they are necessary equipment to access this new
reality still under construction.
In August 2021, the company also launched Horizon Workrooms, a tool
that gives users the ability to create avatars and participate in virtual
meetings. It is also worth remembering that Facebook is working on the
development of Diem (formerly Libra), its own cryptocurrency – another
necessary technology for the Metaverse.
Companies that bet on the metaverse
31. It's not just Facebook that jumped into this new wave. Nvidia, for example,
announced in August the NVIDIA Omniverse, a collaborative simulation
platform. Here, designers, artists, and other professionals can work together
to build Metaverses.
At the beginning of 2021, Microsoft launched Mesh, a platform that
allows meetings with holograms. He also created 3D avatars for Teams, his
communication tool.
In November, Nike created Nikeland, a platform within the Roblox game
in a nod to utopia. In December, the American multinational acquired a
startup specializing in fashion NFTs.
And it's not just foreign companies that are betting on this market. Banco
do Brasil also entered the "joke" and launched at the end of 2021 a virtual
experience within the GTA game server. In the game, the gamer can open an
account at the bank for his character – it is even possible to work as a cashier.
Technologies for metaverses
Although the Metaverse is not yet a physical reality, it is a revolutionary
concept, and current technology is bringing it closer, giving it economic
value. Based on previous experience, its implementation will be gradual, with
platforms being added simultaneously, much as the Internet has since its
inception. It will be a revolution that will affect all industries.
At Plain Concepts, we already carry out projects that could be framed in
the world of Metaverses, such as these:
Virtual reality
An example is the one carried out for Telefónica Movistar using the
Evergine graphics engine. It is a platform that allows you to view multimedia
content on different media and with various devices, connecting other users
who share the same experience, what we could call the television of the
future.
32. We developed a space that users could access, had public and private
rooms where there was a total synchronization of the reproduction and
communication by voice and expressions. Users can also create and
customize avatars, connect to a panel with content-filtered tweets, integrate
with Facebook, and use the figure of an administrator to give visitors
instructions on how to use the platform.
HoloLens 2
HoloLens 2, Hololens became the first Microsoft partner in Spain to
develop customized solutions for various industries, including industry,
energy, construction, medicine, smart buildings, retail, and more.
Thanks to this agreement, they have been able to carry out projects as
innovative as guided biopsies with augmented reality. They developed an
application on HoloLens that allows to graphically visualize a patient's
scanner, on which the doctor can decide from where to take the sample in a
biopsy process. Health personnel can evaluate and determine the most
appropriate path to carry out the operation.
Extended Reality (XR)
Augmented Reality (AR), Virtual Reality (VR), and Mixed Reality (MR)
are all combinations of XR. To access Metaverses, metaverse users use one
or more of these XR devices. These devices capture geospatial data and the
player's voice in addition to providing a virtual world.
Avatars and digital people
A Metaverse’s users are represented by 3D avatars. The avatars represent
real people and their activities, such as walking, talking, working, dancing,
playing, and other activities. Touch, sense, and smell will be possible to use
with XR devices in the future.
Connection and collaboration
The main function of a Metaverse is to connect and collaborate with real-
world people in the virtual world. Not only can people connect, collaborate
and hang out, but they can also do business in the virtual world that can be
33. used in the real world. Real people in the virtual world, through their avatars,
can hang out, party, have a meeting, attend a virtual lecture or show, or even
learn to sew.
Representation of the real world in a virtual world
Representing real-world economies in a virtual world, making
transactions in the virtual world, and then bringing them back to the real
world is the key concept of the Metaverse. Real-world people train in a
virtual world and learn and use skills learned in the real world.
Digital assets and NFTs are used in games where players can earn digital
currencies and cash them out in the real world for real currency.
High-performance computing
To support all of the above, high-performance computing is required to
build and run Metaverses. Most Metaverse companies focus on building a
high-performance computing infrastructure, including faster processing and
storage and a high-speed internet connection.
Metaverse application development
Metaverse application development requires a 3D game engine such as
Unity or Unreal, a programming language, and an application/game
development platform. To build Microsoft Holographic apps, you'll need
Unity, UWP, C#, and NET.
34. Chapter 4
Metaverse Use Cases
We have seen previously that most of the platforms created and called
"Metaverse" are currently focused on virtual events, virtual meetings, and
especially games. But there are many use cases for virtual worlds, and it's
more than just hype.
Social interaction platform
As in Second Life, it is possible to interact together and create social
interactions through immersion. Users can see other people through virtual
rooms and worlds, interact with each other, and arrange social
gatherings. This method takes social media to the next level by combining
asynchronous information sharing with synchronous (live) interaction.
Immersive video games
One of the main use cases is, of course, creating immersive video
games. Just think of "Sims," in which you are a real character. You can play
in virtual works, create your own journey, complete your quests, and much
more. VR technology, including haptic feedback, will enable even deeper
experiences, where you can feel the environment and more.
Digital marketplaces and digital business models
35. As previously stated, having a functioning market and economic
ecosystem is critical. The Metaverse would also allow for fully digital
marketplaces and purely digital transactions. Everyone would have access to
all of the artwork they want and much more if auctions could be viewed from
anywhere in the world. Imagine walking into Amazon's online store and
being able to interact with the products as if they were right in front of you.
It would also allow for new disruptive digital business models that would
envision an all-digital world and the monetization of those digital worlds.
Places of art and culture
Corona has brought us many virtual events and brought much of the art
world online. But what about virtual concerts, where you don't just watch a
video stream, but where you can be present, interact with people and meet
people online while watching art or listening to music? Creating digital
equivalents of online events, museums, or art exhibitions could give many
more people around the world the opportunity to consume art and culture in a
whole new way. See the Mona Lisa in the environment of a digital Louvre –
and not just from a photo on the internet.
Digital artistic creations
Roblox and Minecraft are good examples of how users can use a virtual
universe to build their own world. Giving the user the freedom to shape,
shape, and create worlds as they see fit could give many more people creative
freedom. NFEs could play a bigger role in such an environment, as people
also want to own digitally created works of art.
Augmented and virtual workspaces
Instead of looking at people on a screen with video blocks, you could be
in the same virtual room with them, think, write on a whiteboard, and even
change the room to suit your needs. These features would be combined in
augmented workspaces, allowing people to participate virtually in a physical
meeting. This would mean that holograms would be present in the room,
people and avatars would be present at the same time, and one could interact
36. as if one were there.
Virtual travel and tourism
How about traveling the world without ever leaving your living room? At
a time when travel is restricted, and climate change is a pressing issue,
creating virtual worlds could be an attractive option. Imagine game-like
environments where people discover the Swiss Alps, climb the Himalayas, or
wander alone through the Istanbul market. In virtual worlds, it would even be
possible to visit other planets, virtual worlds like Lord of the Rings, or many
other places that we may not be able to imagine today.
Education and schools
How about a virtual classroom? What if you could have interactive walls,
educational games, virtual experiences, and so much more? An interactive
world can greatly benefit education, especially in schools. It would be
possible to be in space, zoom in on the planets, and get data about them by
simply clicking on them in a virtual way when teaching about our solar
system. The more enjoyable it is for children to interact with their learning
environment, the more likely they are to learn. The Metaverse has the
potential to transform rural and remote areas, and they could receive the same
elite education as everyone else once they have access to the internet.
Unlock new marketing opportunities
The Metaverse is a virtual world where users can shop, socialize,
participate in leisure activities, and learn using avatars. Whether you believe
it or not, there are fantastic marketing opportunities in these virtual worlds,
and many brands are already taking advantage of them. Anzu, for example,
places ads that track real-time viewability in mobile, console, and now
recently Roblox gaming environments for brands like WarnerMedia and
Paramount+. The ads mimic real life and blend in with the gameplay. Thus,
advertisements on billboards or branded clothing appear in the game as in
real life.
You can also use your imagination to unlock marketing opportunities in
37. the Metaverse's many games. One of the most interesting and creative
examples is the fast-food chain Wendy's sending a character resembling the
brand's mascot into Fornite's Food Fight mode to "kill" all the freezers after
noticing that the game's Durr Burger restaurant was storing its virtual beef in
the freezers. The brand saw it as an opportunity to advertise its "fresh, never
frozen beef" – a stunt that boosted the brand's social media mentions by
119% and won several awards, including eight Cannes Lions.
There are numerous advertising opportunities in the Metaverse, and 3D
development companies can assist you in taking advantage of them.
Virtual office space
We've grown accustomed to using Zoom, Skype, Microsoft Teams, and
other virtual communication tools to keep in touch during the pandemic. On
the other hand, the Metaverse can take it a step further by providing attendees
with a virtual office space that makes them feel as if they are all in the same
room. Virtuworx, for example, is already working on avatar-based virtual
reality and mixed reality environments that transform remote work into a
meaningful and productive experience by providing a fully customizable
solution for virtual training, offices, events, trade shows, and conferences.
Instead of staring at a screen all day, participants can explore and engage
in multiple ways. Early use cases for the platform focused on recreating the
physical spaces they replaced. Over time, however, creative concepts fueled
by gamification and data from initial use cases have led to the creation of
richer and more complex environments, and anyone with an internet
connection can access the platform.
Virtual reality developers can create a personalized virtual workspace that
will best suit your employees and company management.
Take a virtual tour around the world
Fortunately, today's technology allows us to travel without physically
being there, and what distinguishes the first-person experience from seeing
them on video is the first-person experience. The Metaverse, augmented
38. reality (AR), and virtual reality (VR) all play this role. An immersive world
with realistic content will fire up the audience's imagination and let them
enjoy the place through an amazing first-person experience as if you were
there in the first place.
VR tourism is a new frontier that has yet to be adopted into the
mainstream. Youtube and other major content hosting services are growing
their 360° video content repositories. However, unlike conventional travel,
which is usually associated with freedom, today's video content only lets you
see what's been recorded so you can see it.
In addition to seeing various sites around the world, you can also try
things like a virtual tour of Disney World. It will be a theme park Metaverse
with connected park experiences that transcend physical and digital barriers
and unlock new layers of storytelling. Disney did this by launching
#DisneyMagicMoments, developing content to engage with fans on the blog,
social media, and My Disney Experience app.
Create a virtual learning space at home
It goes without saying that the Covid-19 pandemic has taken a heavy toll
on all levels of the education sector. This has forced K-12 students and
university students to learn remotely, which comes with many
challenges. While platforms like Zoom allow students to interact with
teachers, professors, and each other, there is still an obstacle that cannot be
overcome with such technologies. The Metaverse promises a joint online
experience, in which a single avatar can move between spaces, like from an
amphitheater to a science lab.
Universities use online worlds such as Second Life and even the block-
building game Minecraft. They can enrich lectures or allow distance learners
to virtually visit a campus. Virtual reality simulations help medical or
architecture students practice skills that are difficult to repeat in real life. The
Metaverse will allow students to live an increasingly "cyber-physical"
university experience, where the virtual world merges with the real
39. world. Many students have already experienced something similar. During
the pandemic, learning has shifted between online and in-person.
What makes metaverse constitutive evolution, and how does it work?
The Metaverse’s advancement is altering the internet's digital ecosystem;
however, how the Metaverse works arise.
Metaverse is based on a distributed network similar to blockchain. But,
before we go any further, we must first grasp the concepts of blockchain and
decentralized consensus. As a result, everyone owns their underlying
structure. It also works for solvable public goods, which means it is not
owned by a single company. And anyone from anywhere on the planet can be
a part of it. We are all connected to technology at this point in time, and this
is accomplished by putting money into services, architecture, and
development.
Because it is still in its early stages, the Metaverse has not been approved
for public use. However, there are two major ways in which it differs from
the existing, platform-based internet.
Decentralized nodes
One of the most remarkable features that blockchain has provided to the
world is a decentralized node. On the Ethereum network, there are currently
more than 11000 nodes. You are not reliant on a single unit or server to meet
your needs. The main advantages are decentralized nodes provided by the
blockchain scalability trilemma.
Portability
World content in the Metaverse universe cannot be cruel. It means that
any content uploaded to the Metaverse foundation, whether artwork or other
types of content, can move. This can be transferred to other applications
without the need for a reference.
The facts that show how crucial the rise of the Metaverse is:
40. Metaverse works on the decentralization of power
Data can be handled freely in the Metaverse, and there is no third-party
involvement. They allow all users to own their data and travel without
restrictions.
It gives users control over their data
The majority of the data and value we create on the internet is now kept
by organizations. People can now take control of their data thanks to
blockchain technology and NFT.
It helps the free internet
The blockchain enables the creation of a Metaverse within the digital
realm, and users will have more freedom in the digital world as a result of
this.
The blockchain Metaverse enhances the human experience in a
creative way
It uses a 3D approach to provide a creative human experience.
Augmented Reality (AR), Virtual Reality (VR), Mixed Reality (MR), and
Extended Reality (ER) technologies are used in the development.
It takes away the world's physical limitations and replaces
them with limitless virtual space
Many of the laws do not apply to the physical universe, so there is no
limit to the amount of space we can use and build on. Only your imagination
41. serves as a limit.
It increases the new global economy
As we all know, cryptocurrencies are in immense growth, and it continues
to pick momentum, and digital assets are booming the market.
42. Chapter 5
Blockchain and Crypto
Blockchain (public and decentralized database), cryptocurrencies, and NFTs
(non-fungible tokens) also support the Metaverse. Through them, it is
possible to move values and register virtual properties.
Metaverse and cryptocurrencies
Cryptocurrencies will play a significant role in the Metaverse, and they'll
keep the Metaverse's economy afloat. Cryptocurrencies will be used by users
in the Metaverse to purchase various things or experiences. Buying tickets to
a performance, paying entry to an art museum, or even testing your luck at a
casino are all examples of purchasing experiences.
Things get interesting when people buy in-game assets like terrain,
weaponry, skins, or even pets.
The most intriguing aspect is that these assets are in the form of NFTs,
which may be safely held in your bitcoin wallet.
Why?
Because it refers to the digital ownership of the assets that you purchase.
43. What you do with these assets is entirely up to you, and you have the
final word on what you do with these assets. You can keep them as an
investment, trade them, or simply sell them when you no longer need them.
Entrepreneurial project funding models in the Metaverse ecosystem will
use the blockchain to issue their own cryptocurrency, known as a "token" or
"altcoin," to carry them out. Leaving the costly procedure of acquiring money
in evidence.
Cryptocurrencies will be a part of the future in this way.
Bitcoin is regarded as the primary currency, whereas Ethereum focuses
on smart contracts, which aim to speed up and provide legal and legal
legitimacy to any transaction or operation that now requires the use of a
business registry or a notary public.
There are many other cryptocurrencies with ambitious and intriguing
initiatives, but none of them are as disruptive as Bitcoin.
Cryptocurrencies like Polkadot, Cardano, Litecoin, and Binance Coin,
among others, add to the ecosystem that will be important in the future.
What is the relationship of the metaverse to the crypto market?
The idea is for the Metaverse to have a virtual economy of its own and for
people to be able to work, buy houses, buy clothes, go to parties, have
meetings, and actually have a life online. The blockchain and the
technologies that "run" on it – cryptos, NFTs, and others – are essential to
this new reality.
Blockchain, for example, can be the foundation of the Metaverse
economy. This technology, which was born with Bitcoin (BTC) in late 2008,
allows for the creation of immutable records without the need for a third
party and is quite a tool for governance.
Cryptocurrencies would be the means of exchange for these
platforms. There are even some projects underway that use cryptos, such as
44. Decentraland (MANA), Sandbox (SAND), and Axie Infinity (AXS) games.
Finally, NFTs serve to register and trade virtual properties and
items. Non-fungible tokens are digital certificates that anyone can view and
confirm authenticity, but no one can change.
The role of cryptocurrencies in Metaverse
People will be able to use a variety of cryptocurrencies as in-game currency
in Metaverse. These will allow you to purchase items in Metaverse, and you
will be able to earn them as tokens in different worlds by completing tasks.
Since cryptocurrencies have real value, you can sell them in exchange for fiat
currency (cash). You can check out the best coins in the Metaverse.
They will emphasize creativity, and you can create templates that you can
use throughout the Metaverse. In the Metaverse, NFTs will have a bigger
impact. Let's say you buy an NFT from the Metaverse's NFT market, and you
can use it anywhere. You can embed it in your avatar or use the NFT as your
name. As the NFT has proof of ownership, your unique NFT cannot be
copied.
What are the metaverse-driven cryptocurrencies?
There are several cryptocurrencies associated with utopia. Some of them are
as follows:
Decentraland (MANA)
It is a virtual environment built on the Ethereum (ETH) blockchain,
and MANA is the platform's native cryptocurrency. The project has attracted
brands and entrepreneurs interested in creating digital businesses, and it is
one of the main representatives of the Metaverse.
Enjin Coin (ENJ)
This platform provides tools for creating products on blockchain and
45. NFTs without fees. The ENJ is its native token; In 2021, the project created a
$100 million fund to support Metaverse initiatives such as games that blend
physical and virtual realities.
Sandbox (SAND)
It was born as a rival to Minecraft but later underwent a revamp and
delved into the world of blockchain and cryptocurrencies. It is a virtual
environment where people can play games, build houses, and have a virtual
life.
Gala (GALA)
It is a play-to-earn gaming ecosystem for blockchains, and GALA is its
native token. The first title released by the platform was Town Star, a rural
environment simulator, and other games are Echoes of Empire, Mirandus,
Spider Tanks, and Fortified.
Axie Infinity (AXS)
It is a blockchain game that helped popularize the concept of play-to-
earn. It works similarly to Pokemon, and players create characters and battle
monsters or other players. AXS is the game's governance token and gives
holders decision-making powers within the ecosystem.
MyNeighborAlice (ALICE)
It is a blockchain game where players can build virtual islands as well as
collect and build items. ALICE is your native token. With the asset, users can
buy virtual objects from the ecosystem, staking (lending cryptocurrencies to
the network in exchange for profit) or participating in-game decisions.
10 Of The Best Metaverse Cryptocurrencies That Can Be Exploited
Since 2021, there has been a lot of buzz about Metaverse cryptocurrency.
This has a lot to do with Facebook's rebranding to Meta. Being one of the
world's greatest digital companies, Facebook established instant appeal for a
market that has seen several technological advancements since 2019.
46. In reality, the Metaverse cryptocurrencies were among the top performers
by the end of 2021.
For the year, several of them made earnings of over 10,000 percent.
With so many optimistic predictions, it appears like Metaverse coins will
outperform the market this year.
As a result, it's time to start researching the finest Metaverse coins to buy
in 2022. The cryptocurrency market is just beginning to recover from a
massive correction earlier in the year, which means that current prices are a
perfect entry point for the high quality. Projects
To make it easy for you to choose, here are 10 of the best Metaverse
cryptocurrencies that can be minted in 2022. While there are no guarantees in
the cryptocurrency market, these ten Metaverse cryptocurrencies have a good
chance of outperforming the market in 2022.
Decentralized (MANA)
Decentraland has quickly grown to become one of the most popular
Metaverse cryptocurrencies on the market. Decentraland made waves in late
2021 when a $2.4 million piece of virtual real estate in their Metaverse sold.
The most current Decentral and related news concerns Samsung, which
has built a virtual store in this Metaverse.
With such high-profile adoptions, Decentraland has a good chance of
succeeding in 2022.
In addition to this growing adoption, Decentraland has an advantage
because it gets the full essence of the Metaverse. The Metaverse is meant to
be owned by the community, giving everyone on the planet to do whatever
they want. That is exactly what Decentraland does because it is governed by
a DAO. Virtually anyone who owns MANA tokens has the power to
determine how decisions are made in Decentraland. That's a big deal, and it
could see MANA skyrocket in 2022 and beyond.
SandBox (SAND)
SandBox's percentage mileage increased in 2021. It began the year in the
47. red, but it now appears to have bottomed out and is building bullish
momentum.
Sandbox's success thus far has been mainly due to its concentration on a
wide and rapidly expanding gaming ecosystem.
This has attracted gamers who want to play for enjoyment while also
earning a job from gaming.
Furthermore, any awards gained or created in the Sandbox game
ecosystem can be readily transferred to any other platform.
As a result, it has become one of the most popular venues for gamers and
producers wishing to profit from NFT games.
Considering that the SAND token is required to transact within the
Sandbox ecosystem, adoption could grow in 2022. With all these factors in
play, it is no surprise that SAND is one of the top 10 Metaverse
cryptocurrencies to mine in 2022.
Axie Infinity (AXS)
Axie Infinity, just like the other two before it, was one of the best
Metaverse cryptocurrencies of 2021. Looking ahead to 2022, there are
multiple reasons to believe that AXS could still outperform the broader
cryptocurrency market by a wide margin. FOMO over Metaverse coins is one
of the primary factors anticipated to push Axie Infinity's stock price in 2022.
It is likely to experience a jump in investments as interest in Metaverse
cryptocurrencies grows, as it is one of the most well-known Metaverse
cryptocurrencies.
Most importantly, Axie Infinity has a competent and well-funded
development team.
Axie Infinity's parent firm raised about $150 million from venture
capitalists in 2021.
Axie Infinity version 2 was released in October 2021, thanks to the funds
raised.
AXS is one of the top ten Metaverse cryptocurrencies to mine in 2022,
48. thanks to a combination of market recognition and well-oiled money.
RFOX (RFOX)
The Metaverse is like any other aspect of the cryptocurrency
market. While large-cap cryptocurrencies are worth investing in, the
maximum profit potential is usually found in smaller-cap
cryptocurrencies. That's where RFOX comes in. RFOX is worth a little over
$120 million on the stock market, and this offers it lots of room to expand as
the Metaverse's popularity grows.
There are basic reasons why RFOX makes sense as an investment, in
addition to its low market capitalization.
While most Metaverse cryptocurrencies are focused on the gaming
business, RFOX takes a more comprehensive approach to the Metaverse to
create a virtual reproduction of the real world, including Metaverse trade.
This broadens RFOX's adoption base and could be critical to its long-term
success.
As a result, RFOX is one of the top ten cryptocurrencies that can be
mined in the Metaverse in 2022.
Terra Virtua Kolect (TVK)
Terra Virtua Kolect, like RFOX, makes the Metaverse Top 10 Crypto
Coins That May Mine in 2022 list due to its low market cap. TVK is still a
young company with a little over $116 million market capitalization, and this
means it has plenty of room to expand as Metaverse's investments grow.
TVK is a good Metaverse investment in 2022 for more reasons than just
its low market cap. There's also the fact that it has a wide range of digital
collectibles to choose from. From Godzilla vs. Kong to Top Gun, it's got it
all. As a result, he's become a fan favorite, which might help TVK's worth
rise as the year develops.
DAO Star Atlas (POLIS)
Atlas is the ideal Metaverse for competitive futuristic gamers who enjoy
imagining the world hundreds of years in the future. It works like this:
49. players solve problems on a futuristic version of Earth 600 years from now in
exchange for prizes. The ability to earn prizes that can be sold as NFTs
makes POLIS, like other Metaverse initiatives on the market today, an
extremely appealing Metaverse platform for gamers.
From the investor's standpoint, POLIS is an excellent investment because
it is the token utilized for transactions within the Star Atlas DAO.
This means that the value of POLIS has decreased as more people join the
Star Atlas DAO ecosystem.
POLIS also has a relatively small market capitalization (less than $100
million). Given that the Metaverse might be a trillion-dollar business by the
2030s, this provides plenty of space for expansion.
Define Finance (FINA)
While the cryptocurrency market has been trending down for the first two
weeks of January 2022, FINA has bucked the trend. It has been trending up
throughout this period, and momentum is building.
Defina is a new platform that provides players with a one-stop-shop for
collecting, playing, and trading NFTs. Players control whatever they produce
in the Define Finance ecosystem. This makes the platform extremely
appealing to gamers who wish to win while simultaneously building an NFT
portfolio for long-term wealth growth.
However, Defina is a must-have this year because of its token buyback
program. In December 2021, Defina announced a generous BNB budget that
is being used for secondary market buyback tokens and reward staking. With
40% of sales, a more elastic exchange pool will be established.
This is a factor that, like a stock market share repurchase scheme, might
help FINA reach new heights in 2022. For this reason, FINA cannot be
missing from the Metaverse top 10 cryptocurrencies that can be mined in
2022.
Etherland (ELAND)
Etherland is one of the Metaverse initiatives with the most future
50. adoption potential. This is because it tries to bridge the gap between the
virtual and real worlds by converting real-world objects into NFTs.
ELAND tokens are a medium of trade that ensures that NFT content that
represents real-world data is unique, reliable, and legitimate.
It also ensures that you have what is rightfully yours.
This is significant because it opens the door to a whole new world in
which nearly everything, from vehicles to real estate, may be converted into
digitally tradable NFTs.
ELAND is one of the greatest Metaverse cryptocurrencies to mine in
2022 because of its potential and the fact that it is still a small-cap
cryptocurrency ($1 million market value).
DotMoovs (MOOV)
PuntoMoovs is a unique Metaverse platform because it competes in the
multibillion-dollar soccer market. It enables friends to wager on games and
even play virtual soccer like they would on traditional virtual soccer
platforms such as FIFA.
The only difference is that the incentives come in the form of MOOV
tokens, which can be exchanged for fiat money or other cryptocurrencies.
In essence, fantasy football allows players to have fun while earning
money.
MOOV can also be repurposed, resulting in a passive revenue
component. MOOV is one of the top 10 Metaverse cryptocurrencies that may
mine in 2022, thanks to a large market (football) and the enthusiasm around
the Metaverse as a whole.
MetaHero (HERO)
MetaHero is one of the Metaverse initiatives that has experienced rapid
growth since its inception. It has expanded so quickly as a result of the
Metaverse's employment of a technology that makes ultra-realistic avatars.
This has given it a lot of potential for adoption in a variety of industries,
not only gaming.
51. MetaHero has a modest market capitalization in addition to its technical
capabilities.
This leaves lots of room for future expansion as adoption rises.
All of the Metaverse cryptocurrencies listed above have a strong chance
of skyrocketing in value by 2022. You should be warned, however, that
cryptocurrencies are quite volatile. As a result, before investing in any of
them, you should conduct your own investigation.
How to buy properties in the metaverse, a new investment that will
increase your profits
With the flu pandemic still raging, some real estate investors are discovering
that physical properties aren't enough.
Prices of "parcels" in the Metaverse jumped by as much as 500 percent
after Facebook announced its bid for virtual reality in October, and some real
estate companies have spent millions on these properties.
The Metaverse combines augmented reality (AR) technology with virtual
reality (VR) and video to digitize the real world.
As avatars, users interact with one another and can do everything from
holding a conference to traveling the world.
These virtual worlds can still be accessed using a regular computer, but
Meta (Facebook) and other companies have a longer-term vision that
includes a 360-degree immersive experience using virtual reality glasses.
How to Purchase Real Estate in the Metaverse
To purchase a virtual property, you must first create an account on one of the
Metaverse platforms, such as Decentraland, The Sandbox, or Axie Infinity.
The most important thing is to have "a digital wallet with good funds,"
52. whether it's an ether or the Metaverse’s native currencies.
In theory, properties can be purchased, rented, traded, and sold, and the
title of the owner can be obtained. The use of a digital wallet that is
compatible with the digital property platform is recommended by experts.
Metamask is the most popular digital wallet on the market right now.
It is compatible with nearly all Metaverse property platforms.
The digital terrain of the Metaverse, unlike real-world real estate, will
cease to exist if the platform on which it is purchased fails and is
disconnected from the internet, which is a risk to be aware of.
53. Chapter 6
What is an NFT?
NFTs (non-fungible tokens) are cryptographic assets on the blockchain with
unique identification codes and information that distinguish them from one
another. They cannot be exchanged equally, unlike cryptocurrencies. This is
in contradiction to fungible tokens, such as cryptocurrencies, which are
identical to one another and thus can be used as a medium of exchange.
What You Need To Know
NFTs are one-of-a-kind cryptographic tokens that can only be
found on a blockchain.
Real-world items such as artwork and real estate can be
represented using NFTs.
These real-world tangible assets can be "tokenized" to make them
easier to buy, sell, and trade while also lowering the risk of fraud.
Individual identities, property rights, and other things can all be
represented using NFTs.
Each NFT's unique design allows for a variety of application
54. possibilities. For example, they're a great way to digitize physical
assets like real estate and artwork.
NFTs can be used to eliminate intermediaries and connect artists
with audiences and identity management since they are based on
blockchains.
NFTs can eliminate middlemen, make transactions easier, and
open up new markets.
These digital certificates of authenticity, which share the same
technology as cryptocurrencies, have made crypto art and new
business models flourish.
How Does an NFT Work?
NFTs are kept on a blockchain, which is a distributed public ledger that
records transactions. The majority of people are familiar with blockchain as
the underlying technology that enables the existence of cryptocurrencies.
Although Ethereum is the most popular blockchain, NFTs can also be
held on other blockchains.
An NFT is made up of digital items that represent both tangible and
intangible items, such as:
Art
GIFs
Videos and sports highlights
Collectibles
virtual avatars, and video game skins
Designer sneakers
Instrumental music
Even tweets are accounted for. Jack Dorsey, one of Twitter's co-founders,
55. sold his first tweet as an NFT for $2.9 million.
NFTs are essentially digital replicas of real-world collectibles. As a result,
the buyer receives a digital file rather than an actual oil painting to hang on
the wall.
They also receive special ownership rights. It's true: NFTs can only have
one owner at a time. Because NFTs have unique data, it's simple to verify
ownership and transfer tokens between owners. They can also be used to
store specific information by the owner or creator. Artists, for example, can
sign their work by including their signature in the metadata of an NFT.
Characteristics of NFTs
They are unique
An NFT is unique: as we mentioned before, thanks to its metadata (which
you can find in its smart contract), you will see its authenticity and
uniqueness, which characterizes it and distinguishes it from others. The
unique plots of land that you can buy within the Decentraland game are a
good example.
We talked about Decentraland related to the future Metaverse.
They are indivisible
NFTs cannot be split. This distinguishes them from cryptos: when we
don't have enough money to buy a whole Bitcoin (which is usual), we know
that we can buy a part of it, proportional to the change. If a cryptocurrency
were like an NFT, you could only buy it in whole units.
They are rare and 'exclusive'
They are unique; they are scarce, they are rare. Why? Because each asset
can only be defined once in the blockchain network, making it impossible for
a person to register it a second time.
56. NFT (Non-Fungible Tokens) Value?
Non-fungible tokens are a step forward from the relatively straightforward
concept of cryptocurrencies. Modern finance systems include sophisticated
trading and lending systems for various asset types, including real estate,
lending contracts, and artwork. NFTs are a step forward in the reinvention of
this infrastructure because they enable digital representations of physical
assets.
To be sure, the ideas of digital representations of physical assets and the
use of unique identification are not new concepts. When combined with the
advantages of a tamper-resistant blockchain of smart contracts, these ideas
become a powerful force for change.
Market efficiency is perhaps the most obvious benefit of NFTs. Processes
are streamlined, and middlemen are eliminated when a physical asset is
converted to digital. NFTs represent digital or physical artwork on a
blockchain, eliminating the need for middlemen and allowing artists to
connect directly with their audiences. They may also be able to assist
businesses in improving their processes. For example, an NFT for a wine
bottle will make it easier for various supply chain actors to interact with it
and track its authenticity, production, and sale throughout the process.
Non-fungible tokens can also be used to keep track of identities. Consider
the case of physical passports, which must be presented at every point of
entry and exit. Individual passports can be converted into NFTs, each with its
own unique identifying characteristics, to simplify territories' entry and exit
processes. NFTs can also be used for digital identity management, which
expands on this use case.
By fractionalizing physical assets such as real estate, NFTs can help
modernize investing. A digital real estate asset is far better to split among
multiple owners than a physical one. This tokenization ethic is not limited to
real estate; it can also be applied to other assets, such as artwork. As a result,
57. a painting does not have to belong to a single person. Its digital counterpart
can have multiple owners, each of whom is responsible for a small portion of
the painting. Such agreements could boost the company's value and revenue.
The most exciting possibilities for NFTs are creating new markets and
forms of investment. Consider a piece of land that has been subdivided into
several sections, each with its own set of characteristics and types of
property. One division could be near a beach, while another could be a
shopping mall, and yet another could be a residential neighborhood. Each
parcel of land is distinct, priced differently, and represented by an NFT,
depending on its characteristics. By incorporating relevant information into
each unique NFT, real estate trading, which is a complex and administrative
process, can be simplified.
Decentraland, an Ethereum-based virtual reality platform, has already
implemented such a concept.
As NFTs become more advanced and incorporated into financial
infrastructure, the notion of tokenized pieces of land with varying values and
locations may be able to be implemented in the physical world.
How are NFTs used?
In theory, the scope of application of NFTs is whatever is unique and requires
demonstrable ownership. However, as the world of NFTs is relatively new,
let's look at some types of NFTs that exist today to help you understand their
possible uses.
Collectibles
These are projects in which the objective is to collect a game's assets. The
most famous is Cryptokitties, where the game aims to obtain cats with
atypical physical features to resell them later. You can also use your
Cryptokitties in other games, transform them into unique cards, and change
your character's appearance. Another sample is the NBA, which has sold
58. collectors NFT digital cards: For $ 208,000, a "LeBron James Cosmic
Moment" was sold.
Games
NFTs have a lot of potential in games, especially with projects like Enjin
and Ultra. They can serve as ownership records for in-game items, fuel in-
game economies, and provide players with various advantages.
In many standard games, you can buy items to use in your game. But if
that item is an NFT, you can get your money back by selling it when you
finish the game. You could even make a profit if that item becomes more
desirable. Game developers - as issuers of NFTs - could earn a royalty each
time an item is resold on the open market. This creates a more win-win
business model, in which players and developers alike gain from the
secondary market for NFTs. This also means that if the developers no longer
manage a game platform, the items you have collected remain yours.
Ultimately, game items can survive the games themselves. Even if a game
stop being maintained, your objects will always be under your control. This
means that in-game items become digital mementos and have value outside
the game.
Art
NFT's art category allows artists to put work on a blockchain to make it
unique. The value depends on the Artist, the rarity, and the public's
appreciation; that's why some are worth so much.
Although NFTs are digital, they can also be created in various formats,
such as images, GIFS, videos, and music, to name a few. Artists have
complete creative control over the form and content of their works. For
example, in the field of music, we have the band Kings of Leon, who recently
released an NFT model of their latest album.
Since the beginning of 2021, the sales of NFTs have increased
considerably. Singer Grimes sold nearly $ 6 million worth of NFT art in less
than twenty minutes. Meanwhile, Nain Cat, a well-known internet cat, earned
59. almost $ 460,000 for his digital artwork. But it's the Artist Beeple, whose real
name is Mike Winkelmann, whose digital collage "Everyday: In March,
Christie's sold "The First 5,000 Days" for $ 69.3 million, making it the first
NFT to sell at a major auction house. Before this, the most expensive NFT
ever sold was a work by Beeple that was purchased for $ 6.6 million by
American collector Pablo Rodrguez-Fraile. Given that you bought it for 67
five months ago, this is an incredible increase in value.
Domain name
If you are a person who has a hard time handling cryptocurrency
addresses, those long scrambled alphanumeric codes that make no sense, you
will surely love projects like Unstoppable Domains. Replace unreadable
cryptocurrency addresses with a human-readable name, such as an email
address. All you have to do is create a personal domain name in your wallet
and send money quickly. You can send Bitcoin, Ethereum, and any other
cryptocurrency with just one domain name. The system is compatible with
many cryptocurrency wallets such as Coinbase, Huobi, Trust, and more.
Certificate of Authenticity for Physical Items
An effort has been made to link the NFTs to real-world objects, and
Nike's CryptoKicks are the most well-known example. The goal is to
ascertain whether or not a pair of shoes is genuine.
Nike patented a system that uses blockchain to link digital assets to a
physical product, making that physical product completely unique, as some
collectors buy limited-edition sneakers to keep or resell. When someone buys
a pair of CryptoKicks, they also get a digital asset that is linked to the
sneakers' unique identifier.
Testament
You can make time capsules from your smartphone with apps like Ternoa
and easily add photos, videos, and messages. Each time capsule is encrypted
and stored on the Ternoa blockchain in a decentralized manner for future
transmission to the beneficiaries you specify when you create it. The event
60. that causes a time capsule to be delivered to its intended recipient can be
customized. As a result, time capsules can be made that is automatically
transmitted when the creator's death is recorded in the official death records.
Of course, all of the above applications represent a small portion of NFTs'
infinite potential, and there is no doubt that the most important applications
have yet to be discovered.
How NFT can be used in Metaverse
The NFTs built into Metaverse serve as proof of identity for many users with
unique objects in the virtual world. These NFTs will provide you with a
unique code registered on the blockchain network. You are the sole owner of
this property, and this is what you need to know.
NFT metaverse types
Here are a few different NFTs available from Metaverse.
Real Estate/Land NFT
Games to Win has implemented the Metaverse concept in their working
model on the land or real estate.
In popular P2E games like Axie Infinity and Decantraland, users may
need to purchase NFT land to expand their virtual ecosystem or create new
products or properties on that land.
This is one of the most popular types of NFT available in Metaverse. In
December, a user paid $ 450,000 for land near Snoop Dogg's home in the
Metaverse.
Fashion related NFT
Fashion-related NFTs are the newest in a growing Metaverse ecosystem.
These NFTs were developed by big brands like Gucci and Louis Vuitton,
who have launched limited edition meta-editions of fashion products that
61. users can purchase as NFTs.
These NFTs are simply digitized accessories that digital avatars can wear
and thus stand out from the crowd.
NFT in video games
Although controversial among traditional gamers, Metaverse games have
fueled the adoption of NFT. There are many NFTs at play in RPGs, card
games, or even shooter games.
Armed NFTs can aid the player in the game, while Koo NFT accessories
can help them develop their own distinctive identity in the Metaverse.
Why do people buy NFTs?
If NFTs can't be bought and sold as easily as Bitcoin, then why do people buy
and spend so much money on them? Well, it's simple, because they believe
that its value will increase over time, and then they can sell it for more
money. Nobody spends 260,000 euros for a rock drawing because they like
rock drawings, since they can have them for free, but because of the value of
this particular drawing as it is an NFT.
The idea, therefore, is that if I buy an NFT for 100,000 euros, in the
future I can resell it for more money . It is a unique asset, which in theory
should give it a higher value as there is no other like it.
Why is Ethereum used?
On what Blockchain do NFT work? Mainly through Ethereum smart
contracts. They were born thanks to the ERC-721 development standard,
which -unlike the more usual ERC-20- allows tokens to be indivisible and
unique, qualities necessary for any piece of collectible art.
It is a unique token that can gain or lose value in the market, depending
on multiple factors, such as the status of the author, the subjective value of
62. the piece within the community, and even its price associated with the
Ethereum network.
What role does Ethereum have? It covers practically the entire NFT
market, although there are new platforms, such as Binance Smart Chain , in
the experimentation stage.
Relation between NFT and Metaverse
We have seen incredible advancements in the digital world since the World
Wide Web's inception over 25 years ago. We've come a long way from a
small network of users to a large population worldwide. The term
"Metaverse" is now familiar to almost everyone who has even a passing
interest in the digital realm.
The Metaverse is a vast online realm where people interact through
digital avatars. What was once only seen in a good science fiction film is now
becoming a reality. The Metaverse can be defined as an online world that
appears real but actually created by computers. Metaverse is gradually
evolving to bridge the gap between everyday life and online life to provide a
more diverse user experience.
When it comes to NFT and the Metaverse, and why NFT is useful in the
Metaverse, we can say that the Metaverse and NFT are becoming
increasingly intertwined.
With the introduction of Web3 or decentralized internet, the Metaverse
connects NFTs to the Metaverse and allows users to enter a new world.
Because NFT is a blockchain-based token, its value has skyrocketed in the
digital world. Anything that can be classified as digital assets and is sold or
purchased in the online community is viewed as a potential future
investment. Although current NFT applications are still being explored to
their full potential, the Metaverse will represent everything in the virtual
world, which means that owning, selling, and transferring assets will all have
63. a digital representation and be done within the Metaverse.
The digital market space has already tasted how useful NFT technology
has become because it grants true ownership over digital items. NFT projects
are increasingly moving into the Metaverse. The blockchain-based games
that use NFTs as rewards and other events in the gaming world can be
considered a prototype of the Metaverse. The largest NFT project, for
example, is Axie Infinity.
When it comes to creating a virtual world by combining all of the online
worlds, blockchain-based games are undoubtedly a vehicle for this. As a
result, NFT provides access to the Metaverse through digital avatars linked to
the user's identity.
The concept of granting ownership over digital assets pioneered by NFT
is now being applied to the virtual world by Metaverse. NFT technology is
needed to simplify the complex process of AI, virtual shopping, and social
media interaction, which are all slowly changing and becoming a part of the
Metaverse. Metaverse and NFT will develop further as virtual reality
advances, as does internet accessibility and, of course, the widespread
adoption of blockchain. The Metaverse, like NFT technology, is still in its
early stages, but when the two are combined, we can expect to see new
horizons.
What Impact Will NFTs Have On The Metaverse?
NFTs have the potential to upend the traditional social network paradigm of
user interaction, socialization, and transaction in the Metaverse. Find out how
NFTs can wreak havoc in the digital world.
An Economy That Is Open and Fair
Users and businesses can now transfer real-world assets and services into
the Metaverse, a decentralized virtual environment. Using innovative gaming
models with compatible blockchain games is one way to bring more real-
64. world assets into the Metaverse.
One such approach is the play-to-earn gaming model, which engages and
empowers blockchain game players. Players can participate in in-game
financial economies in the Metaverse and earn rewards for the value they add
by relying on NFTs, essentially making while they play. In the Metaverse,
play-to-earn games are also fair because players retain full ownership of their
assets rather than being controlled by a single game entity, as is the case with
most traditional games.
Suppose you're interested in participating in these in-game financial
economies. In that case, Binance NFT's IGO launches provide a variety of in-
game assets from gaming projects that players can collect and import into
various gaming environments. As evidenced by IGO launches, where all in-
game NFTs were sold out on the first day, such in-game NFTs are in high
demand. Successful play-to-earn games include Axie Infinite (AXS), My
Neighbor Alice (Alice), and many others.
Play-to-earn gaming guilds will also contribute to the growth of play-to-
earn gaming's popularity. Guilds serve as facilitating intermediaries by
purchasing in-game NFT resources like land and assets and then lending
them out to users who want to use them to generate income in their own
virtual worlds. After that, the earnings are split among the play-to-earn
guilds.
This promotes an open and fair economy by allowing players who do not
have the necessary funds to participate in guilds to get a head start. Guilds
lower the entry barrier to play-to-earn games for all players, ensuring that
everyone has a fair shot at participating in the Metaverse economy. In short,
Guilds help kickstart virtual economies in the Metaverse by making NFT
resources more available to all.
Yield Guild Games (YGG) is one such example. They create a global
community of Metaverse participants who contribute to virtual worlds in
exchange for in-world rewards and generate revenue by renting or selling
65. YGG-owned assets for a profit.
Since users can exchange their NFT assets, such as digital real estate, and
in-game assets on NFT marketplaces like Binance NFT, in-world assets can
command real-world value. The economic value of the NFTs offered in-game
is determined by their application in various Metaverse modules. This allows
users to create whatever type of content they want, such as popular assets that
appeal to a broad audience, original digital artwork, or specialized NFTs that
grant specific abilities and appearances in games.
Metaverses offer an open and fair economy, backed by the blockchain's
immutability and transparency. Furthermore, prices are determined by the
fundamental law of supply and demand, which is based on scarcity and the
on-chain value of an NFT according to its applicability, removing the
possibility of pumps and artificial value inflation.
The gaming drops on Binance NFT are examples of the facilitated mode
of operation in the Metaverse economy.
Weekly IGO launches feature key in-game assets from gaming projects,
allowing users to get a head start in the NFT gaming space. One-of-a-kind
Mystery Boxes also drop with various valuable assets for play-to-win games.
The Binance NFT secondary marketplace allows users to find and trade
in-game NFT items. Binance NFT publishes a daily list of NFT collection
and creator recommendations on its homepage to assist newcomers to the
marketplace, as well as ranking boards that highlight the top NFT sales,
creators, and collections.
Identity, Community, and Social Experiences Expanded
NFTs will also play a key role in Metaverses identity, community, and
social interactions. A user's support for a project or perspectives on the virtual
and real-world can be communicated by holding certain NFT assets. This
allows people with similar NFTs to form communities, share their
experiences, and create content. Trending NFT avatars are an example of
such NFTs.