Metaverse and NFT: an Inseparable Unity

From the past to the present, some discoveries and inventions have had the potential to affect not only a part of some regions, but the whole world. The invention of the telephone, computer and internet have been inventions that have taken us through the era in terms of technology. I think it shouldn’t be too hard to say that these inventions cover a very important part of our daily life. Well, how would you react if I told you about the possibility that our daily lives could change significantly in the coming days? I’m talking about a life where you wander around in a digital environment, go to various events, meet people with a digital character, make friends, buy and sell digital goods, and give you different opportunities like them. Yes, what I’m talking about is the metaverse itself ! Many of us have heard of the concept of the metaverse and have read many articles, listened to podcasts or watched videos about what it is in general. You can read my previous article to get to know the concept of metaverse better (bkz. https://www.spacemagturkiye.com/gelecek/metaverse-herkes-kendi-matrixini-yasayacak/ ). Many people agree that this virtual universe, which can present the Internet to us concretely, has the potential to shape our future. However, we need to consider the potential of the metaverse that can change our lives by including some factors. Rather than just the existence of the metaverse, there are other factors that grow with it and will shape our modern world. We can say NFTs at the beginning of these factors.

NFT stands for “Non Fungible Token”, that is, immutable digital elements. In fact, these immutables are a kind of data stored on the blockchain. One of the most important characteristics of these data is that they are unique. These data have started to be used materially and morally in many areas in the digital world. Any asset that has value in the digital world can become an NFT. This feature sets them apart from cryptocurrencies. For example, digital images, videos, GIFs, and many other assets that have value can be NFTs. In addition, another feature that distinguishes them from other currencies is that they are not designed in any way. It may sounds a little interesting and even unusual, but weren’t many inventions that guided humanity also unusual ?

In order to own NFTs, you must have a digital wallet. With this digital wallet, you can host and sell your NFTs in one place. You can even use these NFTs in the metaverse universe. You can benefit from your NFTs in the metaverse in many areas such as buying a land in the metaverse, using it to enter an organized event, etc. You can buy an NFT and sell it for a higher value and make a profit. You can create and sell your own NFTs, or even open an NFT exhibition in the metaverse world and become an NFT artist.

Many large companies have started to use NFTs under their own brands. To strengthen its presence in the rapidly growing metaverse world, Coca auctioned 4 NFTs as a collection at the OpenSea online marketplace for International Friendship Day on July 30. For the winner of the auction, they planned to give a real retro Coca-Cola refrigerator made in Italy, filled with cold Coca-Colas inside. In addition, some NFT-based companies have started to have valuations that we can talk about seriously. Metaverse gaming company Animoca Brands, which builds blockchain-based virtual worlds and sells them as areas and gets paid with NFTs, has raised approximately $360 million in a funding round led by Liberty City Ventures. Seeing huge investments in NFT and metaverse areas by corporate companies signals that these two will have even more important roles in the future.

As a result, we can say that these digital inventions such as Metaverse and NFT, which benefit from each other, can be potential innovations that can direct our future and our daily life, such as the inventions of the telephone, computer and internet that have shaped our age. The fact that these two concepts, which mutually benefit from each other, become an inseparable unity day by day, may be a sign that new opportunities may be opened in the coming days. In our next articles, we will go deeper into the relationship between NFT and Metaverse and talk about the future these two have created for us with examples.