NFTs and the metaverse: a market that is exploding in popularity Business

Non-fungible tokens (NFTs) have been around for a few years, but the market is now exploding, with one recently sold for $ 69 million.

NFTs are unique digital assets that are purchased and traded securely through a digital ledger called a blockchain.

They can be anything from visual and audio art to digital trading cards, and can include real benefits as well.

Companies like Visa buy them and a 12-year-old boy, Benjamin Ahmed, has made nearly £ 300,000 selling his collection.

As seen in the video above, an emerging use of NFTs is in video games, where the image itself is used in the game.

“Warriors of Aradena sold out in 30 minutes where we made over a million dollars,” said Thomas West, chief marketing officer and game founder.

“Some warriors are now sold 50 times what they were bought from us.”

While some see NFTs as a booming billion dollar industry, others speculate that it could quickly collapse.

Where there might be longer term opportunities for NFTs, or other similar products, is the metaverse.

“The metaverse is not a concept that most members of the public are likely to identify with or talk about,” said James Titcomb, chief technology officer for The Telegraph.

“But it’s something that a lot of the biggest and most influential tech companies spend a lot of time, effort and money thinking about.”

He added, “If you look at the evolution of technology and computer graphics, these virtual worlds will only become more realistic and closer to what we see around us in the real world.

“So if you think the virtual worlds of the future will be as precious and as important as the ones we live in today, then why wouldn’t you believe that a virtual house is as precious as the one we live in? at present? “

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This notice was published: 2021-09-27 11:30:00

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