Metaverse and NFT. Will virtual reality give you real savings?

NFTs are becoming more and more popular. “Amazing Potential” sees YouTube in irreplaceable tokens, and plans to integrate its platform with NFT to provide creators with a new way to attract fans and develop additional revenue streams.

In a blog post on February 10, YouTube Product Director Neal Mohan unveiled a long list of new products, tools and features the company plans to launch in 2022, including Web3, blockchain, NFT and metaverse technology. A few weeks ago, YouTube CEO Susan Wojcicki suggested that the platform could use Web3 as a source of inspiration for development, and possibly adopt NFT on its website.

YouTube also intends to use metaverse, ie virtual reality. This solution should be applied first to games and then to movies. “We couldn’t write about innovation without touching the metaverse. We’re thinking about making the look more effective. The first area we’re looking at is games. We’re going to work on making them more interactive and more lively. It’s still the first days. The scene, but we’re excited because it’s virtual.” we want to see how we can make the world a reality for the audience, ”added Neal Mohan.

Web3 is seen as the next step in the evolution of the Internet. Companies like Facebook Meta, Apple and Microsoft are already fighting for shares in Web3. Some NFT companies are valued at billions of dollars. Irish entrepreneur Tim O’Reilly believes that Web3, a new decentralized network based on cryptocurrencies and blockchain, has a promising future, but it will not become a reality soon. According to him, cryptocurrencies, NFTs and metaverses are highly valued and therefore “smell like booms and busts like dot-coms”.

Tim O’Reilly is known for publishing the world’s first website after the dot-com crash a few years ago and falsifying the term Web 2.0. – Web3 can be called a bubble, and we are actually in the middle of it. O’Reilly said it is like an Internet bubble with many designs and ideas that have emerged, but still offer very few products.

In turn, millionaire, investor and star of the TV show Shark Tank Kevin O’Leary does not even doubt Web3. That’s why he’s starting to buy assets from major platforms such as Polygon, HBAR, Ethereum and Bitcoin, where metavers will live. He does not know which of them will be successful, so he diversifies his investments.

– I know very well that metaversion is quite a risky sector. This is a very new concept and there is not much information to use to market it. However, even for bitcoin, which is considered the safest and least volatile cryptocurrency, an investor should expect high volatility, O’Leary points out.

He also cites Amazon, where he has invested for 17 years. – The share price of this company changed by an average of about 55 percent at the initial stage of trading. every year. Years ago, there were people who said that the Amazon would go to zero. The same thing can be done with metaverse projects. Investors will potentially have to enter the game without hesitation to make big profits, Kevin O’Leary said.

McDonald’s intends to experiment with a metaverse that follows in the footsteps of other major brands (such as Nike) and registers trademarks for virtual goods. Based on patent applications, it plans to open virtual restaurants with digital goods for its customers.

There are already several blockchain campaigns behind the giant fast food chain chain that offers burgers, fries, drinks and other delicacies. In 2021, he launched a marketing campaign to mark the 40th anniversary of McRib’s sandwich, a proprietorship that has served from time to time in the United States. It was in this context that he released his first free NFT tokens. McDonald’s is also testing the digital yuan ahead of the Beijing Winter Olympics. About 270 restaurants in Shanghai have been adapted for the Chinese CBDC service.

In the future, in the “fictional universe” McDonald’s will sell virtual products in the form of NFT. The company has included the McCafe brand in its documents, which means that it intends to offer not only digital sandwiches, but also beverages.

The NFT token is a certificate of authenticity of digital assets. Until now, investors have been most interested in music, artwork, posts on social media platforms, gifs, or virtual real estate (such as those available in games). Such assets may gain value over time. Tokens are used to track the origin and authenticity of rare virtual collections. They contain encrypted signatures of artists or tweeters.

The NFT transaction is stored in the ethereum blockchain and cannot be changed by anyone. In this way, when purchasing a digital work carried by NFT, the buyer can be sure that he is the sole owner of the right to it. NFTs are unique, no two traits are the same.

In recent days, CryptoPunks # 5822 has sold for a record amount, among other NFTs offered in this collection. It was acquired by Deepak Thapliyal, CEO of Chain Technology. He paid 8,000 ethereum, or about $ 24 million.

CryptoPunks is a collection of 10,000 unique unchangeable tokens. These, in turn, are divided into groups, among which we can distinguish very rare examples. The project began in 2017, when NFTs were not yet very popular. Thus, it is superior to other platforms that offer collector tokens.

The record amount spent on NFT so far is $ 69 million. So much money was paid for an art collage. The author of the work is Beeple or Mike Winkelman, who has been creating monumental graphics of 5,000 images every day for more than 13 years. The collage was auctioned by Christie’s.

Skinwallet is the first company to launch its NFT project from the Warsaw Stock Exchange. The NewConnect-listed company has introduced a limited collection of Cyber ​​Warriors Army tokens, a digital warrior whose characters were created by the famous Polish illustrator Rafał Szłapa. The first was an individual sale on February 15 – aimed at a selected group of people. Then, on February 16, NFT tokens went on sale to the public.

Tiger Enegry Drink (Maspex) energy drink brand is also entering the NFT token market. He was the first person in Poland to change his avatar on social media to a picture with a toy bear Fancy Bears Metaverse. In this way, Tiger joined the club, which belongs to the platform NFT Fanadise.

The NFT amateur group also included rapper Wojciech Sosnowski, known by the pseudonym Sokół and Nocny Narrator. He did not cooperate with any platform, but he himself knocked out his digital monkey, which is stored in the Ethereum blockchain. The rapper sold his token for 100 “ethers”, which is more than $ 300,000 at the current rate of the second largest cryptocurrency. The auction will end on March 9 this year.

Also read: In short, NFT

Sokół was criticized by outsiders after bragging about his monkey on social media. Some participants in the digital asset market are suspected of taking advantage of the ignorance of inexperienced investors and selling overvalued NFTs. This phenomenon is called washing trade. This means that the owner of an unchangeable token sells it among his wallet in order to artificially raise the price and thus attract other investors.

Wojciech Sosnovsky responded to his critics. On Facebook, he reiterated that he did not advertise NFT and did not sign any contract with such a project. The rapper said he was interested in the subject and would continue to look for “cool” projects.

Jacek Brzeski

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