Metaverse And NFTs: How It’s all connected
The beginning of a new era.
The future of the internet is here.
On the 28th of October, 2021, Facebook changed its parent company’s name to Meta. A short term for Metaverse. Watch the unveiling here
What exactly does metaverse mean and how is it going to change the internet?
Metaverse is a computer-generated immersive virtual reality environment. It can be used as a platform for augmented reality and social networking.
Metaverse is going to change the internet by providing an opportunity for people to interact with each other in a virtual world and creating graphical representations of their movements and conversations.
Do you know how you can sit in your house right now and talk to someone in other parts of the world about a project or share ideas?
Things are about to get more interesting!
What if you can meet up with friends or colleagues at a coffee shop virtually to discuss a project and even more importantly, build the project together right there?!
It will change the way we experience and understand our real and virtual worlds.
Ready Set Player one is a movie I highly recommend to get a better glimpse at the future that’s unfolding.
How does NFT come in?
What are NFTs?
If you google search right now, you'll see explanations such as NFTs being Non-Fungible Tokens.
What does that even mean🤦♀️?
I’ll start with the definition of what Fungible is: Anything fungible means it can be replaced. For example, if you have $100 and your friend has $100 too, you can exchange this and it’ll still be the same currency.
Non-fungible means, it’s not interchangeable. It has its own unique identity.
Non-fungible tokens(NFT) are digital assets that are unique and can’t be replaced by another token. They are often used as the basis for a collectible or as proof of ownership.
Here’s a more relatable example:
Everyone knows the Mona Lisa painting. In fact, the image of the painting is all over the internet.
But it doesn’t mean you own the original Mona Lisa paint drawn by Leonardo Da Vinci.
Right now, the original painting is sitting pretty at the Louvre museum in France and its estimated worth is $850 million dollars.
It’s impossible for you to print a copy of the picture and decide to sell it for that amount. Why? You do not own any proof of ownership.
NFT gives the ability to assign or claim ownership of any unique piece of digital data.
NFT is not just limited to Art, it can be in form of anything! It can be a video, image, audio, a book e.t.c.
Beeple - a digital artist auctioned his NFT art for $ 69million Dollars. Over time a lot of projects have erupted in the NFT world.
I myself have landed myself some pretty good projects that are gradually increasing in value💃💃💃💃.
With the buzz around NFTs, you can get easily drowned by the noise and find yourself hunting and collecting worthless NFT.
Just like there are shit coins and stable coins. You have to understand which NFT projects will be valuable long-term and those that’ll not stand the wave.
Before getting NFT:
- Understand the Roadmap of each project
- Who is the team behind these projects?
- How fast is the community growing?
There are other factors that position you to start getting prepared for this reality of the future that is here to stay.
Connection of NFT with Metaverse
Non-fungible tokens will play an important role in the future of the internet because it is one way that grants holders true ownership over digital items gotten in the virtual world
NFT arts will be hung on the walls of our virtual homes.
The possibilities are endless!
If you understand the security that holding a digital item on the blockchain grants a user, you’ll begin to see how NFTs can shape a metaverse that encompasses society across the globe.
NFTs are the future of technology! Why not hold one?
Are you curious about NFT? Will you like to make money or understand and how you can jump on this bandwagon while you can? Then this short guide should interest you.
It’s a step to step guide on how to start your journey into NFT, what to know before buying an NFT, people to follow to land yourself a good NFT project, and most importantly, how to position yourself as a creator.
Want to know more, read about it here
Position yourself now! It’s time to prepare for a radically new world.