There are countless industries and areas in the metaverse where current existing companies can fit into, and NFT would not be neglected by them. In areas like virtual reality, mixed reality, AI, blockchain, 3D image, IoT, companies like Google, Apple, Microsoft, Roblox, Nvidia has already made a great contribution. And I believe they also noticed the potential of NFT. If that’s the case, NFT creators in the future will no longer be limited to digital art creators, but the builder of the foundation of the metaverse. Metaverses are virtual worlds where people can do many of the things they do in real life. They’ll be able to work, have fun, shop, exercise, and socialize. They can set up their own businesses, buy land, make art, and go to concerts — all in a virtual environment. Every virtual economy needs money. Cryptocurrencies work like virtual cash in virtual worlds. Transactions are almost instantaneous and the blockchain technology behind them is designed to build trust and ensure security.
Existing metaverses already use cryptocurrency as a form of payment. So if you visit Decentraland, you’ll need its token, MANA, if you want to buy anything. Indeed, metaverse cryptocurrencies like Decentraland, Sandbox (SAND), and Enjin (ENJ) are among the few tokens that might show green this week. Many cryptos are in the red as they drop from the highs of early November.
There’s another aspect of blockchain and cryptocurrency that’s key to metaverses: non-fungible tokens (NFTs). NFTs can be pieces of art, sports trading cards, in-game items, and much more. They are essentially unique digital items, where the ownership and other information is coded into the token.
