Non-fungible tokens set a new benchmark in 2021 and due to the arrival of the metaverse, it completely changes the whole picture. The popularity of NFTs has increased significantly and people started accepting them. Nobody has ever thought that these NFTs will ever get so popular. 2021 is the best year for non-fungible tokens.
But it got popular when meta was the savior for NFTs as Facebook renamed it meta. Research shows that in the week of October over $106 worth of metaverse was sold in just seven days. Now demand for digital cats has also been rising after the launch of crypto kitties. NFT’s got real fame after the digitization and tokenization of artworks by famous artists Beeple.
Many investors are excited about NFT’s and metaverse and with the help of NFT, it provides unique digital assets which provide ownership of items such as artwork, video clips, etc. In the coming years, NFTs will be a big part of the music and art industries.
Game-changing the frame
GameFi is is a combination of video games and decentralized finance and they use blockchain technology for it. It changes the whole gaming experience, it provides players to be the sole owners of the game which sounds interesting. According to the research, GameFi has increased interest in blockchain gaming.
Have you ever thought of a game that is owned and operated by its players, yes you are right there is a game called Axie Infinity an online video game developed by Vietnamese studio sky which uses Ethereum-based cryptocurrencies?
METAVERSE GAMES PROVIDES NEW OPPORTUNITIES FOR INVESTORS
While the crypto market is still in the development phase, this whole new tool provides huge opportunities for the future. This new tool provides people to experience different user experiences whether they are interacting, gathering, or investing. It helps to provide a platform that enables metaverse games to interact with each other. The usage of VR tools gives a different environment to gaming platforms.
Imagine a world where you can go anywhere in the world just by sitting on the sofa and taking glasses on, it’s that simple you can meet with your friends, go shopping, travel, and share the same experience. It is the new phase of the internet that is different.
With the help of metaverse, it provides some great features like
DECENTRALIZATION
Normally digital world is owned and controlled by companies but the crypto metaverse is completely decentralized which is the attractive feature of the metaverse.
GOVERNANCE
Crypto metaverse enables users to vote which transforms it into a new society. This is not just a game it is more than that.
CONCLUSION
We are heading towards the new generation of the internet which is not only limited to posting photos on social media, sharing personal details, and making videos on tik tok but allows you to engage on a much deeper level which no one thought of before. It changes every part of our environment for ex, the gaming world changes after the outcome of metaverse and NFTs.
Users now feel the experience that they are the owners of the game and they can win, play, and be their real avatars. It sounds interesting to many users as it regains the gaming interest in users. You can earn also while playing the game. Many companies find it an attractive opportunity for business to increase their profit. First come first serve is the rule applied, early adopters automatically gain the profit as compared to others.
Whether you like it or not you have to accept this new phase of the internet.
