What possibilities do NFT & Metaverse open
While the craze on NFTs has not ceased to fade and the metaverse is already the coming future, people are increasingly wondering: will this powerful combo change the world beyond recognition?
Well, it’s already happening. NFT is no longer just a backbone of digital (aka crypto) art, and the metaverse has long gone beyond the perception of the game world. Selling, buying, entertaining, learning, building, developing, communicating, and this is far from all that can already be done within the metaverse where NFTs act as an “identifier and monetizer”.
The buzz around the concept of the metaverse and NFTs has also created a skeptical view of the impact of such innovations. However, in such a context, the influence of the NFT-powered metaverse is often underestimated or missed out on.
In addition to creating the article on the eye-popping NFT use cases, OneArt has put together another guide on how NFT & Metaverse bring new opportunities for people from a real and creepy-changing world.
NFTs & Metaverse: what opportunities do they provide?
Access to forbidden content
Metaverse is like a “blank page” of present reality, where people are provided with endless possibilities that the current reality has closed off to them. To know the truth is one of such possibilities.
For example, Reporters Without Borders created a virtual library within Minecraft for “players” to access banned journalism. In particular, articles that are denied access for political reasons in a number of countries with oppressive leaders in power.
Thus, such an Internet censorship bypass loophole for bringing back the truth provides opportunities, especially for young people, to create their own opinion based on different information sources.
Limitless hands-on learning
With projects like Roblox Education, learning has already entered the era of advanced technology, where the main emphasis will not be on the classroom, but on an immersive, dynamic and engaging virtual reality.
Remember the school experiments in the chemistry lab? And how your physicist showed you the law of universal gravitation literally on the fingers? Now let’s bring it all to the metaverse: students can set up experiments themselves, interact with other students from all over the world, and simulate everything within AR from a physics experiment to a surgery.
According to a study from PwC, VR-driven learners are 275% more confident to apply skills after training and are 4x faster to train compared to classroom-oriented education.
Of course, such an immersive approach to education brings its own disadvantages. For example, how to provide access to metaverse-based education on an equal basis without infringing on the rights of those with disabilities or impairments?
Nevertheless, such a shift is just beginning to gain momentum and bear fruit, given the issues that still need to be worked out.
What are the uses of NFT in education?
How about NFT diplomas or course certificates? Now you definitely can’t lose them, and the authenticity will be assigned to them forever — impossible to forge.
In addition, NFT certificates stored on-chain can simplify the hiring process: a recruiter can check the authenticity of education in seconds.
The simplicity of storing necessary information along with the possibility of monetization of school art can also be attributed to the list of benefits.
Secure and monetize medical data
The main thing about metaverse-driven medicine is its security, or more precisely, data security. The issue of data vulnerability and privacy has been picking up more and more in recent times. And while technology does not stand still, it is blockchain that promises the most important thing: decentralization, which means no control of data by “someone at the top”.
According to Deloitte, “Blockchain technology has the potential to transform health care, placing the patient at the center of the healthcare ecosystem and increasing the security, privacy, and interoperability of health data”.
Besides security, with the immersive world and NFTs, you can dive even deeper: monetize your personal medical data with NFTs. For example, Aimedis has launched the world’s first medical NFTs marketplace. That means patients can now turn their data into NFTs and sell (to a pharmaceutical company, for example).
Health Hero is another project for those who want to get the most out of living a healthy lifestyle. By practicing meditation and healthy eating, you can create your own personalized W-NFT and then trade it.
NFT patents
The implementation of NFT into the world of patent offices can greatly simplify the documentation and tracking of patent-related transactions.
The tokenization of patents can be done without a third party — patent offices; patent ownership can be transferred via NFTs; and blockchain technology can be used to track patent owners.
Boundless working environment
When it comes to working with the metaverse, it’s time to experience the exciting possibilities of breaking down the walls of time zones and geographic locations.
Immersive workspaces are the basis for creating shared spaces, reminiscent of those in the pre-Covid times when you could still get together in the office and discuss the ups and downs and future projects.
Working in the metaverse is something akin to those same “office” times, but with radically changed rules of the game. Here are a few of those rules, or rather the possibilities of working within the metaverse:
- Work on projects and the ability to visualize them in an immersive dimension
- No dependence on equipment
- Less spatial constraints
- Simplified team building
- Higher performance due to increased interactivity.
To recap
You might say that these possibilities are just beginning to emerge. You would be partly right. There is still a long way to go to fully embrace the Web3 era and leave Web2 and its laptops and the Internet behind.
While building the infrastructure for this transition has already begun — and the OneArt project is proof of that — establishing best practices, interoperability, equal access for everyone and more is still a long way off. Meta (prev. Facebook) says this could take up to 10 years.
We are already witnessing rapid, albeit gradual growth in NFT and metaverse adoption rates among the giant companies in each market sector. According to a Bloomberg report, the metaverse market will be valued at $800 billion by 2024. Grayscale predicts the metaverse as a potential $1 trillion market.
At this time, NFT is already boldly conquering various areas of our lives: art, sports, fashion, social media, finance, real estate and more.
Although it will still be years before we actually “exist” in the metaverse — the potential for a smooth move is already out there.
