With the metaverse, NFTs make sense

The big metaverse design makes it much more logical to shell out large sums to own virtual objects.

The enthusiasm for NFTs does not seem to be diminishing. These “non-fungible tokens”, which have been widespread in recent months, continue to be regularly sold for considerable amounts.

The latest proof that these digital certificates can finally be within everyone’s reach: a little boy managed to raise the sum of $ 400,000 by selling works made on Paint. With little knowledge of computer code, Benyamin Ahmed, a 12-year-old Londoner, has sold 3,350 works representing whales, inspired by the emoji of the same animal.

What are NFTs? Non-fungible tokens, non-fungible tokens in French, are certificates of authenticity attributed to a digital work. Since, on the Internet, everything is “copyable” indefinitely, NFTs allow you to appropriate a work and be the one and only owner. The authenticity of these certificates is made possible thanks to blockchains, a storage technology that allows you to encrypt and identify inviolable and non-duplicable data stocks.

The NFT craze started around March, when an artist named Beeple auctioned off a digital work, titled “Everydays: the first 5000 days,” for an astronomical $ 69.3 million. This highly publicized purchase triggered others. Twitter founder Jack Dorsey marketed his first tweet the same way, for $ 3 million.

Web creator Tim Berners-Lee also sold the first World Wide Web code for 5.4 million. The sums attributed to NFTs are always immense.

Will the future be virtual?

Paying these sums for virtual, literally intangible works is a concept that can be perplexing. Yet regardless of whether one adheres to the practice or not, it logically fits into what Mark Zuckerberg describes as his new fad, the metaverse. This half virtual and half real universe, already started with the Workspace presented by Facebook, consists in mixing the elements.

Whether or not one adheres to this concept, the NFT principle seems totally in line with the metaverse. Several examples can already testify: the success of Fortnite concerts, which consist of enjoying an artist’s performance while in game.

The haute couture maison, Dolce & Gabbana, which recently launched its very first collection in NFT and, by extension, the standardization of “virtual” clothing, and with which it will therefore be possible to dress up your avatar – the digital version of we- ourselves. The development of virtual reality headsets is also an important resource in this regard.

From this point of view, NFTs take on their full meaning. Until the metaverse comes true, there are still a few steps to take. For the moment, the few attempts to materialize the metaverse remain far from what its creator, science fiction author Neal Stevenson, had envisioned.

The most concrete example to date – which fits perfectly into the context of the pandemic, comes from Facebook – which wants to make the concept its workhorse. To assert its position, the social network has launched Horizon Workrooms, a virtual meeting room in augmented reality.

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