NFTs In MetaVersus
MetaVersus is building a virtual world on the Binance blockchain that will empower people to live a fun-filled thriving life, interact with each other and build structures of their choice. Less than a year ago the term NFT was trending with track records of digital arts and collectibles selling for millions of dollars. NFTs are an integral part of the Metaverse which the majority of people described as the future of the internet. They give life to avatars in a virtual world like MetaVersus and are gradually gaining relevance in several industries like real estate and gaming. Digital arts have proven that they are here to stay, especially as NFTs are fast evolving and adopting different kinds of utility in different industries. NFTs have recorded billions in total market valuation and trading volume, however, NFTs are much more than digital JPEGs or digital arts.
What are NFTs?
NFT is the short form for Non-Fungible Token. Simply put, NFTs are tokens on the blockchain that are not directly interchangeable with another. Each NFT is sold as a unique item, either as digital art or a representation of a physical object. NFT enables the tokenization of physical objects and creates a record of rarity or scarcity on the blockchain, which ensures that these digital arts or NFTs are verifiable and immutable. The conferred artificial scarcity is what makes NFTs valuable. Holders or owners of these NFTs can choose to resell them on digital marketplaces like the Solana-powered NFT and Asset Marketplace owned by MetaVersus. NFTs opened up the creative world to myriads of possibilities and opportunities. From real estate to gaming, to social events, to business, and workplace experiences, people are merging real-life experiences and virtual experiences through NFTs. MetaVersus is building a world where millions of people can create their life of choice and earn from the many games available.
Real Estate NFTs in MetaVersus
What if you could buy your first home as NFT? NFTs play an important role in real estate. For instance, processing real estate paperwork can be tedious and time-consuming. However, NFTs make the verification and authentication process of real estate properties very seamless. Virtual real estates are pieces of land within the Metaverses’ specified space. And, depending on the platform, there is a limit to how many of these lands are available. This generates scarcity in the same way as there is only so much land in the physical world. MetaVersus will have an open-world exploration with virtual real estate that users can own and utilize. Each world in MetaVersus will have different kinds of digital properties that are tradeable on the Solana-powered MetaVersus NFT and Asset Marketplace.
With real-estate NFTs, owners can use their NFTs as collateral to borrow and lend funds. Citizens of MetaVersus will be able to own buildings and land that have real-life value in the virtual world. Real estate NFT eases the process of transferring ownership from the owner to the buyer. These NFTs in MetaVersus will boost liquidity, expand markets, and create economic opportunities for investors through the tokenization of income-producing real estate.
Gaming NFTs in MetaVersus — Play-to-earn, in-game assets, rewards
NFTs have impacted the way games are played and have brought economic benefits into the gaming ecosystem. Global adoption is coming to the blockchain and it is interlaced with user-friendly utility. Only scalable blockchains like Solana would be able to provide a thriving environment for these use cases. Gaming is much more fun when the underlying platform is fast and scalable.
MetaVersus is building a hyper-realistic virtual world that will involve lots of gaming. What is more fun than playing games for free? Play to earn! Long before the inception of NFTs, gamers would spend money on premium in-game assets that they do not own. However, games built on the blockchain have in-game items in the form of NFTs, which means they truly own these items and can transport them to other platforms. NFTs have created economic possibilities where gamers can trade them for cryptocurrencies or real-world money. MetaVersus will provide a virtual universe of endless fun, earning, and rewards for gamers and lovers of games.
One of the virtual worlds to explore in MetaVersus is Skaterverse. Citizens of MetaVersus can skateboard and play extreme sports while experiencing the globe virtually. Skaters can acquire NFT-powered skills from the marketplace in order to boost their skillset before participating in competitions.
Virtual Life and Social Events in MetaVersus
MetaVersus is building the world many people dream of; a rewarding life full of adventure and fun. In many ways people already live in a virtual world. From virtual meetings to virtual parties to virtual chats and calls, all of these activities have evolved to people gradually moving into the Metaverse where they can exist as different avatars. One of the core attributes of Web 3.0 is decentralized identity and in a virtual world like MetaVersus, people can live, exist, connect and party in whatever avatars they choose. These avatars are portable, customizable NFTs on the blockchain. Each NFT avatar is unique with arrays of characteristics and traits. Envision a virtual world where people will hold social events with NFT tickets to access premium services during the event. People would be able to use NFTs to generate revenue from a variety of virtual activities, including cocktail parties and concerts that will be held in the Metaverse.
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