“Facebook’s rebranding to Meta on October 28th made a ripple effect and people all around the world are now rushing for this gold mine as the Metaverse is now inevitable. The amount of hype, effort and money flowing into these futuristic concepts will make them a reality in a very near future. Thus, to be ready to unlock these gold mines in the future, NFTs are your master keys”.
The Metaverse is Inevitable
The hype, effort and money that has started to pour into the Metaverse and its components around the world has given the clear signal that Metaverse is inevitable and the one who will hold the key to the doors to this goldmine now, will be the ones to dominate the virtual world later. The Metaverse got the much needed push when Facebook announced its rebranding to Meta and pushed the concept into the mainstream media. To understand how to access the keys to the upcoming Metaverses, we must understand the link between the Metaverse and the NFTs.
The Key and Lock Connection
NFTs have themselves become an industry and are growing at a rate like no other. The Non-Fungible Tokens are like digital property records that let you transfer the ownership of anything to anybody. They are being utilized to provide ownership of tangible things like real estate, paintings, art etc. With their smart contract capability they can ensure that the rights of the issuer are protected throughout the life of the NFT.
But, how do NFTs connect to Metaverse? Well, If Metaverse is a lock, NFTs are the keys. The Metaverse is a virtual world where people can explore through their avatars and interact with their family, friends and even strangers. To take part in this virtual world, you must have a land or place to live, shopping malls to shop, vehicles to move around and anything you can think of. All these lands, vehicles, items to shop are the NFTs that you own or the Metaverse owns. Until you have a land on the Metaverse, your chances of using it is negligible, thus NFTs are the keys to your entry to the Metaverse.
The Current Scenario and the Future
At present the Metaverse are in the process of development and might take a couple of years to build a real like experience, until then all the Metaverse companies such as Sandbox, Decentraland etc are selling their NFTs in the form of land parcels so that people can later use these NFTs to interact in the Metaverse. Though at present the functionalities are limited, in the near future Metaverse will transform the real world and change how we travel, how we work and what not. Till that time comes, you grab and hold on to these keys to the Metaverse.
Disclaimer: The article is meant for the educational purpose only and in no way it should be considered as financial advice. Own research on the topic is advisable.
Photo by mohamed_hassan on Pixabay