While there is a lull in the NFT markets, it may only be the quiet before the storm. Metaverse NFTs are the next evolution for nonfungible tokens and adoption could bring another investing boom argues constkogan.
Metaverses and blue-chip nonfungible tokens are the driving forces behind the dramatic growth in the NFT market. Projects like the Bored Apes, Crypto Punks, Azuki, Clone X and Doodles collections have steadily attracted collectors' interest in the past year.
On the other hand, innovators have come up with creative new ways to apply NFTs in various industries. These new applications have increased the utility of NFTs, and I expect they will drive the next phase of NFT adoption.by NonFungible.com, which was created in conjunction with L'Atelier BNP Paribas, indicates that Metaverse NFTs make up approximately 3% of the global NFT market value, a staggering $513 million.
As more companies build their brands within the Metaverse, the value of Metaverse NFTs will increase exponentially. Here are a few areas that will benefit from increased Metaverse NFT adoption.Virtual real estate: Margaret Mitchell once said,"Land is the only thing in the world that amounts to anything, for 'Tis the only thing in this world that lasts, 'Tis the only thing worth working for, worth fighting for — worth dying for." Thanks to the blockchain, digital land can evoke the same emotion and utility as physical land.
For example, PARSIQ, a blockchain company, has created a platform where landowners in the Metaverse can earn rental income from their digital assets. The protocol mimics the behavior of physical land by ensuring both the landowner and the renter's obligations are negotiated, governed, and enforced by a series of smart contracts.
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