Amid the growing appetite for digital art, in-game utility tokens and other forms of crypto collectibles, the NFT metaverse is experiencing a surge toward broad-based commercialization.
Governance tokens and liquidity mining protocols appear to be encouraging greater interactions with NFT marketplaces, which is a net positive for NFT market liquidity.
The intersection of the gaming and blockchain industry arguably offers one of the more attractive propositions for NFT utility.
The news marked a landmark in the NFT art adventure as the first time a renowned auction house conducted the sale of a nonfungible token.
In a conversation with Cointelegraph, artificial-intelligence artist Pindar Van Arman described NFT adoption as a veritable source of intellectual property protection for art makers.
Some critics of NFT art say it cannot have provable scarcity because it's possible to download a JPEG of the art piece, rendering the crypto-art-file format redundant.
Like gamers, art makers can earn passive income from the NFT marketplace.
"There is the whole world of digital media. Once the technology is a little more advanced and blockchain allows you also to manage access rights to a movie, song, etc., then the whole world of NFTs is going to see unprecedented growth."Virtual commerce in the NFT metaverse.
Whether through gaming or selling digital art, the NFT metaverse appears on course to deliver the groundwork for a fully realized virtual space.
According to Lueth, the expanding digital landscape will help to create value for NFT goods and services: "As people start spending more time in these parallel worlds it is not a question of if, but when other industries will discover that NFTs will be able to offer complete new business opportunities."
Artist, gamer or property mogul? Follow the NFT road to find earnings
Published on Nov 2, 2020
by Cointele | Published on Coinage
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