NFTs Have Revolutionized Art, But the Metaverse is Propelling the Change
January 28 2022 - 5:20AM
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Since the dawn of time, art has been relatively subjective and yet
one of the most prized possessions for humans. Whether they are
paintings or sculptures, books or vinyl records, owning art as
opposed to consuming art is viewed as astute and royal.
Psychologically, it gives the owner a feeling of power to own a
unique and rare art piece, and thus from exclusive painting
exhibitions to limited book sales, people generally storm in with
the hopes of getting involved. For years, exhibitions have been an
essential source of selling paintings or sculptures to the
end-users. However, the new wave of digital transformation has
changed the industry. NFTs or Non-Fungible Tokens have tied the
crypto and art worlds together, allowing collectors ownership of
digital art. NFTs work as a non-interchangeable unit of data stored
on the blockchain. NFTs became a clear expansion of the industry,
offering an adjunct to traditional art, thanks to its unique
characteristic of transparency and ownership. The latest advent of
the metaverse has transformed how digital art, through NFTs can be
traded and displayed. While NFTs started as digital art, combining
it with the metaverse means NFTs now serve as a digital asset that
can be displayed in virtual reality, such as virtual art galleries,
museums, or even incorporated into the scenery of any virtual
landscape. In addition to the aesthetic component, the smart
contract functionalities of NFTs can also facilitate the sale of
real estate in the metaverse. For instance, RTFKT – a shoemaker in
the metaverse, has designed limited edition digital sneakers that
can be worn virtually. The metaverse is a new world with endless
possibilities, which means ownership of land is becoming more
prevalent. Real estate in the metaverse opens a world of
possibilities for entrepreneurs looking to expand their businesses,
increase their network of customers, and showcase their products in
a different manner. As more businesses are moving from traditional
retail and e-commerce into the metaverse, ownership of property and
land is becoming more and more important. YUNOMETA is an eclectic
collectible series of NFTs, a marketplace, and a virtual mall that
provides users with an experience pioneering the e-commerce virtual
revolution. To provide users with a seamless experience, YUNOMETA
provides interoperability between various blockchains to help users
explore, access, and share information easily. The metaverse has
allowed for true globalization of the art industry, and that change
has created a domino effect, impacting several other creative
industries, such as fashion, architecture, music, and
entertainment. The combination of NFTs with the metaverse has
propelled art into a new dimension with endless possibilities
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