Kumar Anirudha
Scribbles by Ani

Scribbles by Ani

NFTs in Metaverse

Photo by julien Tromeur on Unsplash

NFTs in Metaverse

Where we are headed...

Kumar Anirudha's photo
Kumar Anirudha
·Apr 17, 2022·

3 min read

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We love NFTs. It’s pretty cool. But we need to look forward to the next step in the evolution of such artefacts. Fine, I’ve a cap NFT or a car NFT. So what? What do I do next with it?

The answer really is just staring at our face. METAVERSE. Not in the sense Facebook wants you to see it. But in a more useful way, the one image drawn from the OG, Neal Stephenson in his book from 1992, Snow Crash.

A world open for everybody to create, build, run with no central authority. Nobody controlling you or pushing you to do one thing or the other. True freedom indeed! Must be nice. Feel like a pirate, aye? If you’re reading this by mid 2022, you are in fact well ahead of most of the human race in working on towards a true Metaverse. Let’s start with what we’ve right now and then slowly move towards how it’s going to impact our world and our Metaverse.

NFTs are non-fungible tokens which are usually tied to some asset, such as an art piece, a user profile, an avatar or a prize. What’s common amongst all of these are that the NFTs are almost always uniquely represented in a single point of truth universal network. Which means, my NFT can NOT be same as yours. I know you’re at this point thinking of 1155s. But even so, they’re collectively representing something unique. We can hold a handful of sand and start separating out the grains or just put them in a bag, and tag them as unique. Coming back to the topic, if we’ve a unique hat as an NFT, then my NFT hat would be very different from yours. I can add some feather on the top or color it white or even tilt it a little to make it as unique as possible. Cause the more rare something is, the more valuable it gets, right? Similarly with any other object, such shirt, tee, trousers, gloves, shoes, and so on...

So, let’s say now, each of us has a unique-looking shoe. We can put these to some use as well. Let’s say I add a condition that each time you enter my store in the Metaverse, your shoe will get cleaned if you buy something from my store. By clean, any previous data diluting its value will be deleted or overridden in some way, since the data we’re working with is pretty much immutable. That’d be pretty cool for you to come purchase a cheesecake from my bakery. Ah, you also get some health tokens for it. Which later you can exchange at the hospital for some avatar upgradation.

I think you get the general idea of it. Every activity has an equally incentivized criteria to it. Compelling every user to participate and work for it. It’s what’s building the proof of work within our digital paradigm.

I’ll be working next on building such a world, a truly free world. If you’re interested in building together, get in touch with me. Help me help us get there...

Until next time...

 
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