NFT and Metaverse

Vishal Waman
2 min readSep 8, 2021

What is NFT and how it is being used ?

NFTs (Non fungible token), are unique tokens that can be used to certify the provenance, authenticity, and ownership of a piece of digital media.

Blockchain: These NFT are traded from one owner to another using Blockchain which certifies the ownership.

Royalty: When an item is sold from one owner to other the original creator will get his royalty.

What is next ??

All these collectors own NFT that are Unique Arts, Tickets, Keys, Coins, etc. are used to trade and earn profit from margin…

Next is Metaverse Next Phase of Internet (Digital World)

Digital asset (NFT) used/sold in Digital World and get Real-world Profit in Crypto.

Principles of Metaverse

  1. Be Persistent.
  2. Be Synchronous and live.
  3. Be without any cap to concurrent users.
  4. Provide each user with an individual sense (Presence).
  5. Be a fully functional economy (Work and earn).
  6. Be an experience that spans.
  7. Offer interoperability.

How can NFT be used in Metaverse

These are decentralized VR mobile games that users can enter with Avatar and get on a Job to earn money.

The 3D designers can create these models for Cities or Spaces that will be used in such VR.

These Artists will sell such 3D models on a Marketplace like OpenSea as an NFT.

They will also create some keys (NFT) like Special Skills, access to New Land, Vehicles etc. (Think about Free Fire or PubG wearables, arms, etc.)

Facebook to be Metaverse company in next 5 years

  1. FB to create Metaverse for cities and localities which will be shared space for all and owned by many companies.
  2. This will have homes, shopping malls, events, etc..
  3. NFT’s to be used to open up these spaces and gain some added skills.
  4. Users can create an Avatar for him/her in this Metaverse.
  5. ILO (Initial Location Offering) and Offers Collectibles for early access.
  6. Ecommerce locations in Metaverse.
  7. Gaming and sharing.