What are Metaverse and NFT. Why is the NFT a door to the Metaverse?
By Yuriy Bishko Updated November 14, 2022
Recently, terms like Metaverse and NFT have been heard everywhere. Cryptocurrency, IT and gaming areas are especially often encountered. It is no secret that the world is rapidly evolving in the direction of augmented and virtual reality. Most experts say that Metaverse is the next stage of our lives and of humanity as a whole.
- What is Metaverse?
- What is NFT?
- How does metaverse work?
In this article, we will try to answer all the main questions, understand why Metaverse and NFT is so important and tell which Menaverse projects sell virtual plots of land for millions of dollars.
Metaverse, virtual blockchain worlds and games
To put it simply, without specific terms, the metaverse is a digital space where users can interact. Now metaverses are becoming the only virtual realities where users are transformed into avatars. They can do anything within the established rules of the metaverse.
NFT is a guide to the metaverse and facilitates identification, community and social experience in the virtual world.
Non-fungible tokens are unique assets that cannot be replaced. It can be a car, an animal, a work of art, and anything in general. They are all very valuable to the owners. NFTs have a value of hundreds of thousands of dollars or more.
NFTs have become so popular because they have the ability to create uniqueness using cryptographic tokens. Those in turn transform video content, game characters, pictures into an indispensable asset.
Metaverses are becoming more and more variable as they expand. In particular, you can not only play with them, but also become the owner of digital real estate. These include Decentraland, Axie Infinity or Sandbox. It is in them that users get the right to become owners of virtual real estate and receive income from them.
According to analytical companies, the Decentraland, Axie Infinity and Sandbox projects have sold more than $ 100 million worth of digital land in the last month alone.
This has attracted special attention to NFT Metaverse projects, as customers can earn tokens on virtual real estate. Currently, these platforms are the main spaces for owning virtual objects. For example, on the Decentraland platform you can buy almost all the infrastructure.
Many people claim that this is just a temporary trend that began after the change of Facebook to Meta. As a result of sales growth, investors began buying up digital land to gain access to Metaverse. Most likely, this trend is only in its infancy, but it is safe to say that Metaverse and NFT are the future.
In conclusion, I would like to point out that with the growing popularity of Metaverse, sales of digital land and other virtual things will only grow. Metaverse projects such as Decentralend and Sandbox will become increasingly popular. Therefore, now there is a good opportunity to pay attention to this area and similar projects.