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The concept gained more popularity during the Covid-19 pandemic, as lockdowns pushed more and more people to share online spaces for longer hours. The successful development of the metaverse is expected to be driven by augmented and virtual reality (AR/VR) gadgets, which act at the experiential layer.
Since the launch of the NFT marketplace in June 2021, Binance NFT has provided a platform for not only artists but also top game developers, welcoming new gaming projects every month to overwhelmingly positive reception, from gaming collections to NFT Metaverse items. Due to the positive response from users, the team recently launched the first-ever Initial Game Offering (IGO) as part of a vision to build a home for NFT gaming, but most importantly, a step forward into the Gaming Metaverse.
There is a digital assets revolution going on—from decentralised finance (DeFi) to non-fungible tokens (NFTs) and the evolving concept of the metaverse—and its proponents say it will remake the world as we know it.
Post something on social media and it automatically gets converted to a non-fungible token (NFT) and you can sell it to earn some crypto money. The process of creating and selling NFTs has become this simple on a new social network called Woonkly. There’s a lot that Woonkly is attempting to do, calling itself a “decentralised Social Network based on NFTs”.
Sportswear brand Adidas Originals has joined several other lifestyle labels to step into the metaverse. The company has partnered with two players of the non-fungible tokens (NFTs) space — Bored Ape Yacht Club, and Pixel Vaults Punks Comic, along with inking a deal with crypto investor Gmoney for its metaverse entry. The sportswear brand described the metaverse as a “world of limitless possibilities” after it changed the profile picture of the official Twitter handle with that of a Bored Ape image.
Amrit Pal Singh has spent 40 ether, or $125,000 at the time, buying NFTs, or nonfungible tokens, of art to display in the metaverse. As a designer and illustrator himself, Singh began to sell his own art as NFTs in February, and within two months, “I saw the potential of owning digital land in the metaverse,” the 32-year-old tells CNBC Make It.