Who makes money from the metaverse, and how, comes down to what it becomes. And shaping the metaverse is, to a large degree, a matter of definitions.
NFT sales passed US$40 billion in 2021 and now more brands want to get in on the action.
The metaverse is being hyped as a game-changing virtual platform that will transform our digital lives. But it has some inherent challenges to overcome in order to achieve mass adoption.
Many people promoting cryptocurrencies are looking for something bigger than the future of financial transactions. They’re aiming to break free of governments and corporations.
The digital collectors items have become a multi-billion dollar industry in a matter of months.
Whether the cryptocurrency hype makes you crypto curious or crypto skeptical, there are many ways your life could be affected by crypto’s underlying technology, blockchain.
For the metaverse to work, people need to own their virtual bodies and possessions and be able to spend money. The same cryptographic technology behind bitcoin will make that possible.
The craze among celebrities for Bored Ape NFTs suggests speculation has become completely detached from any idea of fundamental value.
Like cryptocurrency, Damien Hirst ‘Currency’ artworks have many of the attributes of actual money.
There’s a difference between owning property and owning the copyright in that property.
NFTs are revolutionising the sports memorabilia market. There are huge opportunities to make money, but also big risks.
Until the late 1800s, moments of widespread high-risk financial gambling weren’t considered manias but the results of individual actors, who bore responsibility for the disastrous results.
Where some see a bubble waiting to burst, others see a reinvention of the way we handle ownership of assets.
When we see the high prices some are paying for NFT art, we must assume more performances, and potentially, acts of protest, could circulate as NFTs.
NFTs don’t even exist in the real world, but the market around them has a big effect on the planet.
NFTs are made the same way as crypto coins, but where every crypto coin is like every other, each NFT is a unique digital item – from images to sound files to text.
The digital tokens are a way to create scarcity and an aura of authenticity in an online world of infinite copying, pasting and remixing.
To quote the artist: ‘bruh… this crypto space seems super interesting though and i see a ton of potential to do some weird shit nobody has done yet.’