The Future Of NFTs in Web 3
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The Future Of NFTs in Web 3
NFTs (Non-fungible tokens) started all the way back in 2017 with the development of crypto punks and CryptoKitties. These are some of the first ever and oldest versions of what NFTs are. It wasn't until Nifty Gateway and OpenSea collections that it really started to gain a real footing. What really made it hit headlines however was when Beeple sold a NFT worth millions in 2021 and quickly spread like wildfire as everyone wanted in on the action.
This single sale sparked the boom of the NFT revolution with countless projects, arts, music, gaming along with businesses. It's paved the way for true advancements in ownership and even security. Providing access to events and communities via a ticket or token, game assets such as cards like we see in Splinterlands (which is actully powerful as it's impossible to forge fakes being that everything is logged on a ledger it's also what makes art so powerful) to your username or domain names making sure others can't lock them in before you which we constantly see happen on games and domain resellers.
That was all what most would consider web2 but the real vision is in web3 which is taking shape. NFTs are becoming a critical part of this as it's giving people a way to visually see what they own and what they are doing. What most people struggled with in terms of crypto was not being able to hold it or really even see it. Isn't that the same as credit cards though? Fake money that's not really there lol In any case we see NFTs painting a picture of all things that each person can now relate to.
We have seen NFTs start being used for sporting events however with lockdowns and all that fun stuff it's really stifled the adoption rate of NFTs into sports for tickets and other types of assets from games. However with lockdowns and simply people not caring anymore we are starting to see a path forward with NFT collections and sports in the physical world.
This also comes in the shape of other things such as cards, video clips of epic sporting events and more.
One of the biggest areas however we seen adoption of NFTs is in the digital world of gaming.
The Metaverse?
Now I hate to burst bubbles around here personally I feel the visual VR metaverses are not going to go far. They had a place when lockdowns where in effect but now that that's not really a thing anymore people including younger generations don't care of wear a headset and be a part of a virtual world. Not unless something really epic comes along that people way to play and be a part of but I honestly don't see that happening any time soon.
Proof-Based Ownership
However they do seem to have a strong future in card collection type games such as Splinterlands and showing ownership in that way. Along with skins, outfits and other types of content within a game. This to me is the future and the future others can relate to. Now buying a new outfit in a game means you really own it. You can sell it or move it to another account or simply give it to someone. The next evolution in this would be for the game to allow anyone to mint their own outfits and collect a fee on sales as their revenue source. Content creators would LOVE this and it would pave the way for awesome new communities and the feeling of ownership and being a part of something. This is the direction major gaming firms need to start thinking and taking.
Real ownership of name across all fronts! I think this is one of the most powerful features of what blockchain and NFTs can do for people. Don't you just hate it when you have your own gamer tag and someone swipes it from you. Or companies and people that register your domain name and expect you to pay thousands or millions for your own name! Well with Ownership of NFTs you could lock in your name so any new game, domain etc you create would now be yours and you could verify ownership of it with your registered key on the blockchain.
This also leads into real ownership, privacy and security across the web for what I envision web3 to be which you can read more about here.
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Many people think that NFTs usecase ends at flipping jpegs. They don't realise that there's a lot more to it.
The concept of ownership will it be the same in the future.
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Exactly I see this all the time on twitter mainly from kids and people that are just clueless about the whole thing. A few years from now they will wake up and kick themselves in the butt for not taking the time to learn it.
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This is something from which, for now, I keep my distance, but I have long promised my daughter, who draws interesting pictures for future NFTs, to register her in the service and start selling. Advise a sales board where the price of registration and attendance by buyers are harmonious, if you know one.
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There's a lot more to just some pictures for NFTs I highly recommend taking a day or two and researching it and understanding it more. It will only benefit you.
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In any case, I will compare the platforms, but I thought that the person who writes about the NFT has his own, dissenting opinion, which can become an advantage at the moment of making decisions. All of us bloggers are, in fact, sellers. We want to sell our skills dearly. Imagine yourself in a supermarket...let it be an electrical goods store. Each manager-adviser of the store is interested in selling his own approach, or strategy for the method of selling this or that product and the product itself, which will not be sold if the consultant's strategy is mediocre. You ask me to tell you about the properties of the induction cookers on display and you get an answer... go read about induction cookers, then come, you will benefit from it... I am 100% sure that, never again, I will not fit to this manager... so which platform do you like best?)
The nft is a mathematically provable certificate of title for... anything.
One day sovereigns will have no say in ownership. And since property rights are the basis for law, well... Goodbye gubment, hello freedom.
The company behind the platforms owns everything in Web 2.0. You get ownership in Web 3.0. NFT is a hot and trending topic nowadays. People value NFTs and it has different use cases as well. I think NFTs are going to make a huge shift in the gaming industry. Each item of a game can be an NFT and you can own and trade that. This is fascinating!
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Ownership is nice but I have a feeling that it's going to take some time as a lot of people involved right now only care about the money. A lot of the NFT news I see online are all talking about the NFTs shilled by social influencers and there are a lot of them talking about scams. So in a way, NFTs can be useful but I think people need to start looking into the utility of the NFT rather just as art.
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Agreed but that's like with anything. 2017 was the altcoin boom and within 5 years we have many more use cases and legitimate tokens that do things and provide value. I see NFTs flipping faster in about 3 years so that's 2023 - 2024 time line. Things will only start adopting faster now that it's really gone mainstream.
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If I understand brother, since there was the great sale of the CryptoPunks NFT, in reality the boom that NFTs had was very remarkable, I even want to make my own NFT's, your article is very good, I will be reading you often, greetings and a strong hug from Venezuela brother.
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