King of the Streets:
With Bitcoin exploding, the long-awaited start of the Ethereum 2.0 launch, and many altcoins seeing 1000+% gains, 2020 was a roller coaster ride in the digital asset space. In March, the entire global economy was devastated by the pandemic, and the digital asset markets were no exception.
With trillions of dollars printed for America’s depleting economy and the world following suit, economic recovery is beginning to show slight improvements. In my opinion, it was, and still is a facade, built on QE and massive debt. To hedge against the uncertainty of massive inflation, Bitcoin has become the newfound safe-haven asset of 2020.
New Kid On The Block:
You may say to yourself, okay, now comes DEFI right? This would be the case if I were putting together an end of year summary, but I’m not. So who's the new kid on the block(not really new, but in 2020 it was actually recognized)? If your answer was Non-Fungible Tokens (NFTs) then you are absolutely right! Although NFTs haven’t reached the billion-dollar volume of their blockchain counterparts, there have been some notable transactions that continue to fuel this trend.
3.5 Million Reasons Why
On the 14th of December, 2020 a historic moment for the space occurred on the NFT marketplace Nifty Gateway. An artist who goes by the name Beeple (Twitter @beeple) designed 20 individual pieces of art called “The MF Collection.” The 20 artworks were auctioned for more than $3.5 million, inspiring @beeple to tweet a video of his friends showering him with champagne.
Trevor Jones digital artwork “Picasso’s Bull” also a Nifty Gateway sale, sold for $55,000 in the first week of July 2020. These are just a couple of examples to consider when evaluating this industry and its talented artists who are working night and day to drop winners.
The Virtual Property Tycoon:
(description of virtual worlds sourced from home pgs.)
As the title of this article will suggest, the main take-away of this column is what virtual property NFTs mean to an industry that is gaining more traction. You have the Second-Life’s of the world, but I’m here to talk about blockchain-powered metaverses. This article will be an introduction to a collaborative series on NFTs with a surprise twist!
DECENTRALAND:
We move forward with a game well known to the Ethereum blockchain community called Decentraland. Decentraland immerses players in a decentralized virtual reality platform where users can create, experience, and monetize their content and applications.
The finite, traversable, 3D virtual space within Decentraland is called LAND, a non-fungible digital asset maintained in an Ethereum smart contract. The land is divided into parcels that are identified by cartesian coordinates (x,y). These parcels are permanently owned by members of the community and are purchased using MANA, Decentraland’s cryptocurrency token. This gives users full control over the environments and applications that they create, which can range from anything like static 3D scenes to more interactive applications or games.
Some parcels are further organized into themed communities or Districts. By organizing parcels into Districts, the community can create shared spaces with common interests and uses. You can find a list of the original District Proposals on GitHub. The content that makes up Decentraland is stored and distributed via a decentralized network while ownership and transactions are validated on the Ethereum blockchain.
SUPERWORLD:
The next metaverse is SuperWorld, also an Ethereum powered platform which I will allow this video explain: SuperWorld introduction (SuperWorldapp.com), but in summary, SuperWorld gives players a virtual real estate marketplace and AR platform, which is looking to bring the best of AR content to one decentralized metaverse, people can search for, create, and populate the “real world” with persistent AR content.
This will include: videos, text, messaging, animation, and 3D objects, along with invaluable interactive avenues for retailers, health providers, financial services, and marketers, to name a few. So many exciting features are offered in this AR dominated world. Wait until you see what SuperWorld has planned in 2021 with their ambitious roadmap and future partnerships.
UPLAND:
Our final metaverse will, in my opinion, be one of the tops in volume and daily-active-users (DAU Stats from Dapp Radar ). EOSIO blockchain-powered Upland sees a future where blockchain technology creates real-world economies for games and opens up a completely new way for ownership of assets to be treated and assigned. It will provide a new kind of value proposition which better aligns players and game operator incentives. Upland’s parallel multiverse revolves around commerce, entertainment, and personal connections.
When entering Upland, you are transferred to an alternate reality where the geography and even the street addresses around you are the same - everything else is up to you. Buy, sell, trade, and collect properties, develop them, build structures, create real businesses that provide products or services. Eventually, only the sky's the limit (literally). Examples are Virtual Music venues, Art Galleries, and VR coffee lounges to conduct actual business meetings.
The possibilities are endless, and while this NFT Spotlight Series will expand your knowledge within the digital parcel ownership markets, I strongly encourage those reading this to do their own research. I would love to hear what you find, leave a comment with your favorite NFT art or game and we will try our best to give insight in one of the next segments. We will be giving an in-depth look into the virtual property NFT ecosystem, as well as an analysis of where the two categories (virtual properties & digital art ) will go in 2021 and beyond!
To be continued…
For entertainment purposes only
- Disclaimer - The views, thoughts, and opinions expressed here are the author’s alone and do not reflect or represent the views and opinions of Cryptowriter or Voice.
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