How Will NFTs Influence The Metaverse?

The ‘Metaverse’ represents the concise form of concepts that are the foundations of our ever-expanded universe. It is the sum of all the processes and protocols empowering the digital transformation of our lives, the internet systems, and the emerging blockchain empowered with AI Web3.

While NFTs are becoming the DNA certification for our society, they are the central pillars of Metaverse, where they are pivotal in building the digital twin of our society. Art, fashion, collectives, history, cities, property, and tourism experiences- all benefit and grow in terms of experiences with the expansion of Metaverse.

If Metaverse is the door to the unique space of experiences, NFTs are the keys to that door. To explore this vast span of exciting and exclusive events, these keys are inevitably necessary.

The Metaverse is an inspiration to create an architectural bedrock in a decentralised and always-expanding interoperable space. It is a realm where real, online, and all types of experiences that we partly saw in science fiction blend into each other.

In its present (or the future) scenario of Metaverse, all our societal features- personal health and wellbeing, communications, finances, game, personal and collective worlds, and personal profiles- will use the NFTs as the door keys, unlocking the ever-growing online experiences on the course of its journey.

Powering the Metaverse: Blockchain

Blockchain is the foundational architecture and engineering of the Metaverse. Blockchain technology is, in itself, a powerful combination of three popular concepts- cryptography, peer-to-peer networking, and game theory.

Blockchain’s fast-growing distributed-ledger solutions permeate various verticals for identity and protection, transparency of data and transactions, and ways to reward. Further, it gives us an opportunity to gamify the systems of our society- businesses, experiences, and our personal, online, and digital twins.

This goes hand and hand with the way blockchain-expanded protocols can empower communities, artists, creators, cities, developers, businesses and all types of organisations to lead experiments.

Existing Metaverses have been using digital tokens since their inception. Digital tokens have been used as a way to reward developers, and have been using cryptocurrency as a form of payment to services and activities.

This happens when you visit platforms like Decentraland, you'll need its token, MANA if you want to buy anything. Other major Metaverse cryptocurrencies like Sandbox (SAND), and Enjin (ENJ) are among those few tokens.

Of course, Meta Platforms Inc. (NASDAQ: FB former Facebook), like it or not, is building a version of Metaverse, catapulting many Metaverse cryptocurrencies to new all-time highs. Other tokens include projects like Bloktopia, which will be a cyberpunk-inspired virtual reality game with a complex in-game economy run on the BLOK token.

Also, new projects like citiesabc.com are creating a Metaverse for cities and LynKey is creating virtual and real experiences with NFTs in property and smart tourism.

Giant tech players like Google, Microsoft, Apple, Valve and Magic Leap, Coinbase are all hugely immersed in the NFTs and especially the Metaverse. So, this is and will be, a much larger trend, in ways that will expand how our society and cities perceive and manage digital and real physical experience.

A Game Changer ‘Metaverse’

The Metaverse transforms our experiences as a society and opens the doors to digital transformation- the digital twins of our imagination, health, physics, and desires. The Metaverse will transform our present and virtual world in a way where digital twins (avatars) connect through houses, cities, work, buildings, travel, or entertainment, with the help of increasing AR and VR solutions- improvised far ahead of the present-day headsets.

The tech and business world, as well as smart city builders, are preparing for a Metaverse-based future, with NFT-based certified and augmented experiences. This vision shows the Metaverse is a cornerstone of our physical and digital social media experience.

With the Metaverse, you can do a virtual digital twin check of your body. The present use of Metaverse is the VR that is presently being used in the training of doctors and medical staff to take learners within the human body, providing digital twins and a 360° view of ailments or replicating real-world procedures. In the current era of high-tech health care, as the Metaverse grows, doctors are going to be able to visualise and contribute patient data and diagnosis information. Metaverse would help in getting insights from a massive database accessible to physicians all around the world.

This explosive future from Metaverse will come hand in hand with the potential for blockchain-based ID certification systems that will accelerate the adoption of media, personal profiles, and increase financial services in the Metaverse.

In the near future, the Metaverse will increasingly give birth to a potential independent state of its own, presided over by various self-governed DAOs or other decentralised systems. This is partly already real with the hacker and gaming communities worldwide that have millions of users.

The entertainment, property, tourism, health, fintech/DeFi sectors will be the ones where we will find better present/future solutions. The Metaverse will empower peer-to-peer experiences that will offer jobs, financial empowerment, lending, and trading. The Metaverse and NFTs certification solutions will take on the role of a virtual business-empowered financial system.

NFTs are now our keys, ID cards, and passports like email was at the beginning of the internet. The possibilities are, of course, much bigger, more powerful, and disruptive. The NFTs are the glue that put together the puzzle pieces that already exist on the internet, and expand them to the Metaverse of experience.

With Blockchain advanced NFTs and AI, the Metaverse possibilities are only limited by the capacity we can put our imaginations as humans, the capabilities of creators and developers, and the demands of users.

Conclusion

The growing Metaverse opens the doors with NFTs ‘keys’ to not only new experiences but new levels of digital transformation and digital twins of literally everything that makes humans, the visibility and control for users. While the Metaverse has been there for more than a decade, it’s NFTs that stand to open bigger doors and solve the puzzle to bring it to a much more impactful place in our society- life in our real, perceived and blurred physical world.

Dinis Guarda

Dinis Guarda is the founder and chief vision architect for citiesabc.com and CEOCreatorAuthor of freedomxcom. He has before created the platforms openbusinesscouncil.org, fashionabc.org, intelligenthq.com, hedgethink.com, tradersdna.com and and IP technologies blocksdna.com, lifesdna.com, iDNA and indexDNA.

With 20+ years experience in international business and digital transformation Dinis Guarda has been a Lecturer and guest Speaker in international business schools such as: Cambridge, Kings College, Copenhagen Business School, INSEEC, Monaco University among others. Dinis is the author of various books. His upcoming book, titled 4IR Magna Carta Cities ABC: A tech AI blockchain 4IR Smart Cities Data Research Charter of Liberties for our humanity is due to be published in 2020. Before that, he has published “4IR AI Blockchain Fintech IoT Reinventing a Nation“, “How Businesses and Governments can Prosper with Fintech, Blockchain and AI?”, also “Blockchain, AI and Crypto Economics – The Next Tsunami?” among others. He was responsbile for over 20 books/ebooks/magazines published in various languages.

Dinis is a serial entrepreneur and CEO / chairman of the companies ztudium / techabc / open business platform. Dinis is involved as a strategist, board member and advisor with the payments, lifestyle, blockchain reward community app Glance technologies, for whom he built the blockchain messaging / payment / loyalty software Blockimpact, the seminal Hyperloop Transportations project, Kora, and blockchain cybersecurity Privus.

He is listed in various global fintech, blockchain, AI, social media industry top lists as an influencer in position top 10/20 within 100 rankings: such as Top People In Blockchain | Cointelegraph and https://cryptoweekly.co/100/ .

Between 2014 and 2015 he was involved in creating a fabbanking.com a digital bank between Asia and Africa as Chief Commercial Officer and Marketing Officer responsible for all legal, tech and business development. Between 2009 and 2010 he was the founder of one of the world first fintech, social trading platforms tradingfloor.com for Saxo Bank. More about him here https://www.openbusinesscouncil.org/wiki/dinis-guarda/