Metaverse and NFT
With the growth associated with NFTs in recent months, NFTs look perfectly poised to be the revenue model for Metaverse. It is of no news that Mark Zuckerberg is looking to steer people towards the metaverse, which is the coming together of the physical world and the digital world. There will be loads of new opportunities for those looking to get in early on the Metaverse's train.
Metaverse is a space where avatars, digital representations of people, interact with each other. This might be work, games, fun and anything humans do in the physical world. Physical and digital worlds come together in the metaverse, it is like experiencing real world operations in a virtual space. It is still early and no one knows the height Metaverse will get to, but looks promising.
Non-Fungible Tokens (NFT) are digital assets, sometimes standing as representations of physical assets, that are unique and whose ownership are recorded on the blockchain. It is so obvious that NFTs will have roles to play in Metaverse most likely as a revenue model. There are reasons to believe so.
=> Virtual reality: since NFTs are already available in the digital world, Metaverse will bring people to view and perceive it in the virtual world like it can be perceived in the physical. This use-case already exists and the two will work to take it to another level.
=> Availability of NFTs: NFTs are rare and scarce, and this is what brings value to it. There is no other NFT like a particular NFT, which is a good feature of a revenue model
=> Audience: There is an existing market for NFTs, active trading occurs every minute of the day. This will mean well for Metaverse as there is more reason for users to interact with the virtual space, and for the purpose of transacting. The audience is wide.
=> NFT safety: The fact that NFTs are on the blockchain and all transactions are recorded, this gives it credibility. There is a trust and safety already associated with NFTs which will ease into Metaverse.
This will be a great time to learn more about NFTs and Metaverse, these two will be inseparable in the near future.
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