The awesome Metaverse project makes shelling out huge sums to own virtual items much more logical.
Enthusiasm for NFTs doesn’t seem to be waning. These “Non-Fungible Tokens”, which have become hugely popular in recent months, continue to sell in substantial quantities on a regular basis
The latest proves that these digital credentials can, finally, be within everyone’s reach: a young boy managed to raise $400,000 by selling works produced in paint. With a few ideas for computer code, 12-year-old Benjamin Ahmed from London sold 3,350 works representing whales inspired by emojis of the same animal.
What are NFTs? Non-fungible token, non-fungible token in French, is a certificate of authenticity responsible for a digital work. As such, on the Internet, everything is infinitely “copyable”, so NFTs allow you to appropriate a work and become its sole and unique owner. The authenticity of these certificates is made possible by blockchain, a storage technology that makes it possible to encrypt and trace an unbreakable and non-replicable stock of data.
The NFT craze started roughly last March, when an artist named Beeple auctioned off a digital work titled “Everydays: the first 5000 days,” for $69.3 million. This highly publicized purchase triggered others. Twitter founder Jack Dorsey similarly marketed his first tweet for $3 million.
Web creator Tim Berners-Leo sold the first World Wide Web code for 5.4 million. Amounts attributable to NFTs are always substantial.
Will the future be virtual?
Paying such money for virtual, literally meaningless work is a concept that can be confusing. Still, whether one adheres to the practice or not, it fits logically with what Mark Zuckerberg describes as his new fad, the Metaverse. This half-virtual half-real universe, already introduced with Workspace presented by Facebook, has mixed elements.
Whether one adheres to this concept or not, the principle of NFTs seems to be fully in line with the metaverse. Several examples can already testify to this: the success of Fortnite’s concerts, which enjoy the performance of an artist while in the game.
The haute couture house, Dolce & Gabbana, which recently launched its first collection at NFT and, by extension, the standardization of “virtual” clothing, and the development of virtual reality headsets with which it will be possible to dress up its avatar – our digital version – is also a major asset. .
From this perspective, NFTs take on their full meaning. Until the metaverse becomes true, there are still a few steps to go through. For now, the few attempts to synthesize the metaverse are far from what its creator, science fiction writer Neal Stevenson, envisioned.
The most concrete example so far – which fits perfectly in the context of the pandemic, comes from Facebook – which wants to make the concept its workhorse. To assert its position, the social network launched Horizon Workroom, a virtual meeting room in augmented reality.