The NFT Marketplace has exploded into the mainstream recently. This is because of incredible blockchain technology that promises to remake the internet and redefine how people think about ownership. The fact is NFT has the technology that existed then can seamlessly and flawlessly track authenticity and provenance in a decentralized, tamperproof manner. Due to the fact that NFTs shift the crypto paradigm by making each token unique and irreplaceable and thereby making it impossible for one non-fungible token to be equal to another. This is because they are digital representations of assets and have been likened to digital passports because each token contains a unique and non-transferable identity to distinguish it from other tokens.
Another thing about NFT is that NFTs contain ownership details for easy identification and transfer between token holders. For the example owners can add metadata or attributes pertaining to the asset in NFTs. Such like when artists can sign their digital artwork with their own signature in the metadata. Literally NFTs evolved from the ERC-721 Standard. In fact NFTs are like digital fingerprints like they are not a fad, they are the future and they will be ubiquitous in daily life, serving as concerts tickets, certificates of authenticity, guarantors of intellectual property rights,collectables,game passports, real life passports, and digital deeds.
6 Main Reasons Why NFTs Will Boom In 2022
· Digital assets that have become commonplace. For the example world is already obsessed with everything from Fortnite skins to Pokémon to FIFA Ultimate Team digital trading cards. These predecessors to NFT technology have already popularized digital assets and stoked demand. It’s only a matter of time before major sports, media, and gaming companies realize the nearly limitless potential of NFT technology.
· People have a perennial love for collectibles. This happens when NFT technology promises to change the way humans collect things. Trading cards, tickets, pieces of music, Internet avatars, and even tweets can be tokenized as NFTs. In fact, NFTs can serve as a digital twin to physical objects, thus ensuring authenticity and designating ownership.
· Unprecedented investment opportunities. For the example NFT projects have already generated a lot of wealth. An Ultimate Master Bot NFT sold for 3,000 ICP ($172,140 USD) on the Internet Computer. At the time of writing, Poked Bots has traded a total volume of 62.6k ICP (about $13 million USD). With so many people flocking to invest in NFT, you can be sure that even more investors will surge forward in 2022.
· Enthusiastic celebrities. For the example already mentioned that celebrities are getting involved, but the intensity of the craze is mind-blowing, Dorsey, the co-founder of Twitter, recently sold his first tweet as an NFT for about $3 million USD. A chain reaction has started that promises to drag almost everybody into the weird, wonderful, and wild world of NFTs.
· Transparency and cybersecurity. NFT are exchanged on blockchain networks via smart contracts, eliminating the need for a central authority while simultaneously making the Internet safer, more inclusive, and more open. Content creators can rest easy knowing there’s finally a solution to safeguarding intellectual property rights and guaranteeing ownership.
· The internet computer is here. The DFINITY Foundation’s Internet Computer offers NFT creators and people who invest in NFT cheap on-blockchain storage at Web speed with no gas fees. The Internet Computer promises to be the premier platform for the NFT marketplace. It has what it takes to revolutionize NFT endeavors, make them indispensable aspects of daily life, and elevate them to the status of global financial juggernauts.
Web3 is all about more fundamental disruption that leaps forward to open, trustless and permissionless networks. In fact web3 is the biggest growth opportunity for businesses since the World Wide Web. The API 3 token is the fundamental unit of web3 API economy. API3 is decentralized at the governance level where it matters most. In fact this differs from fungible tokens like cryptocurrencies which are identical to each other and therefore can be used as a medium for commercial transactions. Also web3 opens up new opportunities for creators.
That means we believe new technologies like blockchain and NFTs can allow creators to build deeper relationships with their fans. For the example most of web3 projects involve at least some web2 infrastructure but internet computer can deliver scalable web 3 platforms running fully on chain, where services don’t rely on intermediaries and users control their identity and data. For the example we have airdropped NFTs directly to DSCVR users without ever forcing those sign up for a wallet. So by building DSCVR on-chain on the internet computer, we can seamlessly connect users to the colorful and interesting benefits of web3 without the pain. NFT technology will fuel a dynamic community and commerce system, empowering and popularizing Web3 in a way in which other competitor blockchains cannot. A platform to build a new generation of digital applications upon. The Internet Computer blockchain’s autonomous status and complete independence from commercial web services and legacy API also means NFTs are directly owned and controlled by the end-user.
A metaverse is an expanse of digital space where users can interact with each other in real-time and get similar experiences to what they experience in the real world. The metaverse is not quite like that, but it definitely has the potential to evolve into something fantastically immersive. The idea behind the metaverse has been around for much longer than Meta’s vision of it. The metaverse is regarding to both current and future integrated digital platforms focused on virtual and augmented reality. It is widely hyped as the internet’s next frontier and seen as a significant business and financial opportunity for the tech industry and other sectors. However virtual world is a simulated environment that can be accessed by many users who can explore the world simultaneously and independently through the use of an avatar.
The virtual world presents perceptual data to the user while also including the real time actions and communications of other users along with their movements and gravity. Massive multiplayer online games use virtual worlds to allow players to do things like build and change the world and travel between spaces within the world. Those behind the metaverse believe virtual worlds can have applications outside gaming including in things like collaboration software and medical care. Virtual worlds are also sometimes called synthetic worlds.
The source is What Is The Metaverse? Meaning and What You Should Know | Seeking Alpha, What Is the Metaverse? The Future of the Internet Explained | Digital Trends
