NFT-centric and Metaverse projects were in the spotlight one year ago. But are they still relevant in 2022? Check out comprehensive new guide by U.Today
As cryptocurrencies are still trapped in a bearish recession, the right moment has come to look at the most overhyped segments in order to evaluate their actual utility and prospects.
Metaverse is a digital space with elements of AR/VR and an immersive experience; crypto tokens are often used as key elements of Metaverse economics: payment instruments, tokenized entry tickets and so on;Ethereum remains the dominant blockchain for the NFT and Metaverse segments; OpenSea, Magic Eden and X2Y2 are key marketplaces;
Hereby it is declared that the account 0xa1b2c3… owns RareBird.jpeg starting from block 123456, which is verified by the Ethereum blockchainAs such, this technology introduces an intuitive, inclusive and tamper-proof instrument of ownership verification. However, it is not entirely decentralized: typically, the file associated with this or that NFT is stored on a centralized server.
In March 2022, it was announced that BAYC developers Yuga Labs quietly acquired all IP rights for Crypto Punks NFTs. Both parties avoided disclosing the sum of the largest M&A in Web3. At the same time, the entirety of commercial rights to the Punks belongs to their owners.Otherdeed for Otherside represents a different subclass of NFTs, i.e., tokenized cards necessary to enjoy the Metaverse experience in Otherside virtual world.
Last but not least, super-aggressive shilling by brands and influencers also contributed to the Metaverse mania. Nearly every big name in tech and fashion shared announcing the"opening" of this or that Metaverse.In this review, we will mention the Metaverse projects that were initially built around cryptocurrencies, and three major Metaverse venues of well-known brands inspired by the 2021 euphoria.