What is an NFT? By Lo Faro
“I have a product that can be sold in metaverse as well…” is what some entrepreneurs of such kind might say. Most people are asking this question too often, it’s not because they want to limit themselves in the real world, but because they’re trying to sell their products in metaverse as well.
A metaverse is a virtual world where users can create and share their worlds with others within the same metaverse. Just as real-life networks have people making contact with each other on the street, so too do metaverses allow people to make contact with each other across different metaverses.
The Metaverse is typically portrayed as a manifestation of actual reality, but one based in a virtual world.
Non-fungible tokens (NFTs) are a type of digital token that is unique and cannot be replaced by an identical token. Non-Fungible Tokens are digital assets that represent objects like art, collectible, and in-game items. The idea behind the NFTs is that each token has its own set of data associated with it which makes it difficult to copy.
The main connection between the metaverse and NFTs is related to digital assets and how they are given value. The metaverse will allow people to showcase digital forms of art and property, and NFTs will allow them to put a price on that content with proof of ownership.
The NFT Royalty is offered for the original creator of an asset when they are sold every time. Vendors choosing Lion & Whale plans will receive their products images into NFT and the recursive selling of those images will allow them to earn perpetual royalty.
Being able to be found by your customers in both, one is the offline world that we’ve always known, and the other will be a virtual representation of the world around us, will be crucial for success.