NFTS – Page 3 – Augmented & Virtual Reality Confabulation

February 1, 2022

Web3 Glossary

From airdrops to NFTs to smart contracts, the jargon that is part and parcel of Web3 can be hard to comprehend – even for seasoned veterans of the space. If you’re interested in Web3 and its many facets, read on to get a better understanding of some of the more unusual terms floating about the metaverse.

Metaverse — Image credit: Chaosamran Studio, Shutterstock

Airdrop: The practice of distributing free cryptocurrency tokens in order to kickstart the launch of a new currency.

Augmented reality: Any technology that enhances a real-world environment with additional digital information such as 3D graphics.

Avatar: A digital representation of a user’s character within a virtual world, typically highly customizable in terms of appearance.

Blockchain: A digital ledger recording information and storing it securely while verifying its authenticity with cryptography. It grows via a process known as mining, whereby computers on the network solve increasingly complex mathematical problems in order to securely add new records – meaning that new transactions are verified and recorded without the interference of one central authority.

Cryptocurrency: Frequently abbreviated to “crypto”, cryptocurrency is a digital form of currency secured by blockchain technology.

Cryptography: The practice of securing information during transmission. The communication is first encrypted to prevent third party interference, before being decrypted on the other end with the help of a key – ensuring only the sender and receiver can access the information within.

Decentralization: A method of organization that doesn’t rely on the control of a central authority, instead distributing decision making among participants.

Decentralized applications (Dapps): Decentralized apps are pieces of software built and hosted on blockchain technology. Examples include cryptocurrency wallets, games and financial services applications.

Decentralized autonomous organizations (DAOs): A DAO is a new form of distributed organization controlled by its members, with its rules and activity recorded on blockchain technology.

Exchange: A platform enabling users to buy, sell and trade cryptocurrency – either for other forms of digital currency or traditional fiat currencies.

FOMO: An acronym for “fear of missing out”, the phrase refers to buying into an NFT or cryptocurrency to avoid the regret that would occur if it ballooned in value.

Gas: A fee that must be paid to validate and confirm transactions on the Ethereum blockchain and similar platforms. The price is related to the amount of work required to include transactions in a new block.

GM/GN: An abbreviation of “good morning” and “good night” respectively, the greeting is a common feature of crypto communities.

Governance: In a Web 3.0 sense, governance refers to the the structuring of a blockchain and how it is led, with popular approaches including on-chain governance, where rules are encoded into the blockchain protocol, and off-chain governance, where decisions are made away from the blockchain itself.

IRL: an abbreviation of “in real life”, referring to the real world as opposed to the metaverse or cryptocurrency community.

LAND: A non-fungible token that represents ownership of virtual land in the Decentraland platform.

Layer 1: A term used to describe the base blockchain architecture, with a layer 1 network serving as a source of truth and the authority for transactions via consensus mechanisms.

Layer 2: A term describing a network building on top of an underlying blockchain, intended to extend its functionality and reduce gas fees and transaction times.

Metaverse: A term referring to a virtual 3D world in which users can interact, socialise and play, as well as an imagined future wherein the internet can be accessed as a virtual world.

Mining: The process by which new cryptocurrency units are created and transactions confirmed. Computers solve complex mathematical problems to verify transactions and add them to the blockchain network as a new block, with the first miner to solve the problem rewarded with new items of cryptocurrency.

Minting: The practice of issuing a new piece of art as an NFT, by turning it into a digital token that’s recorded on the blockchain. The process is typically handled by a marketplace.

NFTs (non-fungible tokens): An NFT is an entry on a blockchain establishing who has ownership of a digital item such as a piece of art or a trading card.
Peer-to-peer networking: A peer-to-peer network allows users to communicate with each other without resorting to a central server, as with blockchain.

PFP: An abbreviation of profile picture, the term typically is used in relation to images that can be bought as part of an NFT series and used on social media profiles.

“Probably nothing”: A phrase typically used ironically to infer that an opportunity is in fact “probably something”.

Proof-of-stake: One of two popular approaches to validating transactions on the blockchain, proof-of-stake sees users staking cryptocurrency to become validators. They are then randomly chosen to create new blocks as well as check and confirm blocks created by others.

Proof-of-work: One of two popular approaches to validating transactions on the blockchain, proof-of-work relies on the efforts of miners solving complex mathematical problems in order to add new blocks onto the chain.

Public key: One of two pairs of keys within a cryptographic system. The public key can be known to others and allows the owner to receive cryptocurrency from another user.

Private key: One of two pairs of keys within a cryptographic system. The private key must be kept a secret to everyone except the owner and allows them to send cryptocurrency from a wallet.

Smart contract: A smart contract is a program stored on a blockchain that executes when certain conditions are met, allowing transactions and other operations to happen without the involvement of an intermediary.

Token: A slightly nebulous term for cryptocurrencies in general, token is also frequently used to describe crypto assets that piggyback on another, more popular cryptocurrency’s blockchain.

Virtual land: Created by the developers of a given metaverse platform, land is parcelled off to users who are free to utilise it within the limits of that platform’s features. Owning virtual land involves buying an NFT that confers ownership of a digital space.

Virtual reality: A simulation typically accessed through a virtual reality headset, allowing the user to interact with a digital world.

WAGMI: An acronym for “we are gonna make it”, the term is used to show fellowship with holders of a given cryptocurrency by asserting that their investment will be successful
Wallet: Unlike a physical wallet that stores currency itself, a cryptocurrency wallet stores the keys to access your cryptocurrency on the blockchain.

Web3: A successor to the current model of web 2.0, Web3 represents a new era for the internet emphasizing decentralization and user ownership – alongside new methods of interaction in virtual worlds.

“Wen moon”: Also found in other forms such as “wen lambo”, the intentionally misspelt phrase asks how long it will take for the price of a given digital asset to rise as high as the moon.

January 31, 2022

MetaWorms Are Team17’s Entry Into the NFT Market

“Oh no, not another NFT!” You may say but this time it comes from Team17 and its popular Worms franchise. Called MetaWorms, Team17 is collaborating with Reality Gaming Group on the new venture which will feature content from the videogame’s 26-year history whilst being “environmentally friendly”.

Apart from the image above, Team17 and Reality Gaming Group (RGG) – creators of augmented reality (AR) title Reality Clash – have yet to reveal what the MetaWorms collection will actually look like. What is known its that the NFTs will be created and managed by RGG’s Digital Asset Trading (DAT) Platform, connected to its “own “side-chain” of the Ethereum mainnet.”

NFTs and cryptocurrencies are well known to consume significant portions of energy. The announcement claims that MetaWorms will: “offer substantial reductions to the amount of energy used per transaction,” 100,000 NFTs using as much energy on average as the “annual kettle usage of just 11 households.” So that’s nicely cleared up.

Adding to the environmental credentials – if they matter to you when buying an NFT – the companies have partnered with Coin 4 Planet. This is a sustainability platform that donates a portion of each NFT sale to Refeed Farms, which uses vertical worm beds to replace synthetic fertilizers and replenish soil.

“Worms remains an iconic franchise in global gaming with tens of millions of fans around the world, so we’re really excited and proud to announce our partnership with Reality Gaming Group ahead of the release of highly limited edition artwork NFTs later this year,” says Harley Homewood, Head of Publishing, Team17 Digital, in a statement. The ultra-low energy technology Reality Gaming Group uses, together with their carbon neutral servers, played an essential part of the reassurances we sought before our agreement; we’re very much looking forward to giving Worms fans a chance to own a piece of our history.”

Currently, there isn’t a lot of additional information with a very basic MetaWorms website and a Discord channel with an empty roadmap.

To learn more about NFTs gmw3 has created a ” What is an NFT Guide“. When further details regarding MetaWorms are available we’ll let you know.

January 28, 2022

What is an NFT?

As we move closer to embracing Web3, there are more and more terms for new technologies emerging. Getting to grips with a new technology or phrase can be daunting. Perhaps you’re one of the millions of people who began to hear the term ‘NFT’ in 2020-21 and thought, “what the heck is an NFT?” Or maybe you know a little but would like to learn more. We’ve got the basics covered!

Fungible ?

What does the word ‘fungible’ actually mean? Fungible is “an item which is replaceable by another identical item; [an item which is] mutually interchangeable” Let’s use clothes shopping to illustrate this meaning.

We love a particular pair of sneakers, we can order these from an online retailer or buy them from a physical store. When we buy them, the retailer can pick any box and sell them to us. It doesn’t matter which pair they pick off the shelf as they’re exactly the same. Once they’ve been worn, and worn out, we can buy another identical pair. We could even stockpile them because we love them so much; there are thousands of pairs in the world, after all.

So, fungible = replaceable.

Shopping — Photo by © Odua Images – Shutterstock.com

Non-fungible ?

Now to look at the opposite – non-fungible. As you’ve probably guessed, this means something which is irreplaceable. For example, the painting ‘Sunflowers’ by Vincent Van Gogh is irreplaceable – there is only one of these in the entire world. Were this painting to be destroyed, there would be copies of it in existence, but they are not the Van Gogh masterpiece.

So, non-fungible = not replaceable.

Token?

An NFT is a strictly digital item, it only exists digitally, there is no physical version, though it can represent something from the physical world. The NFT is basically a token; an alphanumeric code that tokenises the digital item turning it into something you can own. Imagine it as a signature on a painting, the token represents Van Gogh’s signature declaring the NFT as the original.

The token exists on the blockchain and, via the alphanumeric code signature, it can be tracked and traced via public records to show that you own it. We’ll come back to the blockchain soon.

Right-clicking?

One of the major arguments against NFTs is that the image or gif can be ‘right-clicked’ and saved to a PC or mobile phone. This argument is usually used to show that you can’t ‘own’ the item within the NFT.

Hopefully, you’re old enough to remember film-based cameras because we’re going to use them in this example (if not, it’s time to imagine!):

Before digital cameras became mainstream, film cameras were used by everyone. Once you snapped a photo the image would be stored as a negative on the roll of film. You’d send off the film for printing and receive a package of photos along with the original negatives.

Using that negative, you could feasibly produce hundreds of thousands of copies of a particular image, but only you own the negative – the original source of the image. That photo could be given to everyone in the world, be photocopied, scanned and reprinted infinitely, but the negative is the original and you own it. So, if for example, those millions of copies somehow were destroyed, you’d still have your original negative.

Buying an NFT of a tweet, or a digital Banksy, doesn’t stop others reproducing the image, but the token in the NFT declares to the world that you own the original as bought from the creator, you hold the negative. It’s no different to the physical art world; Sunflowers is hanging in the National Gallery London and it can never be replaced, but the gift shop sells imitation posters to take home. Remember:

Sunflowers = Non-fungible.

Poster of Sunflowers = Fungible.

How does the blockchain work?

For an in-depth look at blockchain technology, please see our accompanying tutorial [we’ll need a link here]. For a fast and dirty explanation, we’ll get into it now.

The blockchain is a huge spinal cord, where each vertebra is a computer. Those computers are owned by people the world over. These computers exist to crunch numbers and verify transactions. When somebody buys something, the computers all talk to each other to establish the buyer has the money and the seller has the product. Once the purchase is complete, it adds a new block to the chain filled with information about the transaction.

Where this differs from a centralised business is in the public records. Every single transaction on the blockchain is open to the public, plus there is no middle man. There is no art gallery to take a cut of the profits. It’s also incredibly difficult, on the largest blockchains, to steal or commit fraud, because if just one computer notices a bad transaction, it won’t create a block and the money will not be transferred.

What can be an NFT?

Pretty much everything. Yes, an NFT can be a computer-generated image of an ape or a kitten; it can also be a music track, a short video or gif, or it can simply store information and data. If it’s digital and, most importantly, original, then it can be an NFT.

Because of this, you’ll have noticed that NFT marketplaces are overflowing with NFTs of varying media and seemingly every major company is looking for a way into the market. It’s also very easy to mint (create) an NFT, meaning a lot of people are hoping to create the next big movement in the space.

Gas fees?

Whenever a transaction is started on a blockchain – it can be any of the blockchains, Ethereum, Bitcoin, Tezos, etc – an amount is paid to the miners who own the computers computing the transaction. Imagine it as tipping your waiter. They didn’t cook the food, but they were an integral part of the chain in bringing it to your table.

Miners usually receive a small fraction of the transaction cost, though this is determined by the cryptocurrency prices. If a crypto is generally expensive to use, then the cost in gas fees will feel more expensive, because it’s a percentage of the crypto price.

In some instances, gas fees can be lower for the buyer. A general rule of thumb is: if you want the transaction to be computed swiftly, the gas fees will be higher, as it will take up more energy to process at speed. Slower transaction checking means lower gas fee totals. In many situations, the gas fees will be proportionately lower than usual middleman fees found in transactions today.

What are the Upsides?

NFT technology has the potential to completely revolutionise the internet and the way data is stored and transferred. Because anything can be an NFT, the blockchain can store the data forever, and that data can be constantly referred to. The technology can vitally change the sale of goods.

For example, we want to buy a house from our friend. Our friend owns the property – the deed has been digitised and minted as an NFT – and they want 23 crypto for the selling price. We have 23 crypto in our digital wallet and begin the transaction to buy the NFT deed.

Once the blockchain has confirmed that our friend indeed owns the house (digital deed) and we have the 23 crypto, the exchange is done and recorded on the blockchain. Everyone can see we now own the deed to the physical house, our friend has their funds which can be withdrawn or spent and now we can move in. In this example, the agency that would usually deal with this transaction is completely removed. There’s no need to pay fees or fill out reams of paperwork.

NFTs can also open up creator economies, allowing artists, musicians and millions of other creators to sell directly to their audience. They can also be used by governmental bodies to track information in utilities, population, building and traffic data, eliminating email chains, paper backups and miscommunication.

What are the Downsides?

Firstly, NFT technology can be very confusing – hopefully, we’re helping to eliminate this. There’s blockchain, tokens, types of cryptocurrency, wallets, gas fees, minting… the list goes on. Any emerging technology is going to feel initially overwhelming, but with time these processes will become easier to deal with or be streamlined.

Secondly, the NFT market and cryptocurrency generally, can be very volatile. One minute prices are low, the next minute they’re very high. Like the stock market, there will be fluctuations constantly. Buying an NFT isn’t only about whether you like or appreciate the content, it’s also about getting a fair price. Whenever you want to buy an NFT, you must research the artist, the market, the crypto costing, the gas fees, all to ensure you’re getting the best deal.

Lastly, there’s the environmental impact. All those computing decisions and transaction checks use energy and, of course, that energy is normally generated by burning fossil fuels which spew carbon into the atmosphere and impact the Earth via climate change. However, we are at a crossover point – if this technology begins to be used widely, other systems like gold mining and global banking will depend on fossil fuels less, hopefully balancing the usage.

We also need to remember that as the energy industry changes and embraces cleaner options the environmental impact will decrease. On top of that, some blockchains are using much less energy than others – for example, the Tezos network – or applying a carbon offset into their business.

We can see the yearly approximate energy breakdowns as follows (TWh = TerraWatthour) for 2021:

Gold industry – 240.61 TWh
Global Banking System – 238.92 TWh
Bitcoin Network – 113.89 TWh
Ethereum Network – 44.5 TWh
Tezos Network – 0.001 TWh

Hopefully, this has helped you learn more about NFTs. Now you should be able to navigate this new phase in the evolution of the internet and the digital economy. If you’d like more information or want to go into more detail with NFTs and Web3, keep reading gmw3.

January 28, 2022

Is the Metaverse the Virtual Promised Land?

Picture the scene, a sprawling cityscape dominated by skyscrapers stretching beyond the clouds, busy streets filled with people going about their everyday lives all beautifully lit by the warm glow of a summer sunset. Seems idyllic doesn’t it? But it isn’t real, merely a digital construct of a creators mind who envisions a utopian world without the pitfalls of the real one. You’ve seen it in films, read about it in books or explored one in a videogame, a metaverse where anything is possible.

However, in popular media how often have these virtual worlds descended into chaos, never living up to that dream of a virtual realm devoid of discrimination, hate and violence? More often than not the narrative paints a surprisingly factual image of why a particular society has crumbled and turned into a dystopian metropolis involving police states and oppressive regimes that wish to control every image you see and every thought you have.

That may seem a little dark in comparison to what’s available at the moment but there’s no telling where this new digital journey will take us.

If there’s any hesitation in metaverse adoption then it stems not from science fiction but the companies and creators jostling to make this a tangible reality. Meta – formerly known as Facebook – and its CEO Mark Zuckerberg has become the most vocal when it comes to the metaverse. Heck, he even changed the company name to reflect this new position. Alas, Facebook’s history isn’t one of a benevolent social network, continually shrouded in controversy thanks to whistleblowers, how it handles advertising, its effect on young people through platforms like Instagram and so much more.

Even without Meta’s potted history, its current immersive offerings are anything but cohesive. Under the Horizon branding Meta currently has three separate social virtual reality (VR) apps, Horizon Worlds, Horizon Venues and Horizon Workrooms, none of which actually work together. Horizon Worlds is the most ‘metaverse’ oriented of the three where you can build your own virtual realm; a space for you and your friends to play mini-games or a world open to all. Horizon Workrooms focuses on workplace collaboration, where you can share your PC screen and have fully realised meetings in VR. Whereas Horizon Venues provides access to live and recorded events. Yet none of these currently interlink making for a convoluted system.

But that is very much the state of the “metaverse” at the moment. Described almost like a singular entity, in actuality, the current climate is plural with the likes of Somnium Space, The Sandbox, Decentraland and many more trying to carve out their own little corner. So competition is fierce when trying to attract new users and then retaining them, utilising techniques like buying your own slice of virtual land or special NFTs using cryptocurrencies, hosting unique events or teaming up with brands and global personalities.

These smaller metaverse platforms are trying innovative ways to connect with users who sit on the cutting edge of technology, having decentralised ecosystems that don’t suffer the same sluggish nature that bog down the huge tech giants. Yet it is behemoths such as Meta that’ll provide the most mainstream push forward due to their deep financial pockets, mostly funded by advertising.

One giant billboard

And that brings us back around to the metaverse nobody wants. One continually recycling billboard that sucks in your data at one end and spews out another targeted ad, ruining the whole experience for everyone.

Advertising does have its place when integrated into the experience to help fund creators. Yet there’s a fine line between that and invasive ad placement continually telling you how your life could be so much better with this one product; nobody wants that. There’s already been pushback when Meta had a go at testing VR ads in PvP shooter Blaston. Developer Resolution Games quickly reversed the decision due to community backlash.

But people also like free stuff. So if you want free access to these new worlds companies need to make money in other ways, ads are inevitably the go-to product. Or there are avenues companies and creators can explore once you’re inside, such as customisation options for your virtual self, all of which can be bought and sold quickly and easily.

To give you an idea of what all of this will be worth – hence the exponential push – a recent research report by Market Research Future (MRFR) found that the metaverse market was worth $21.91 billion USD in 2020 and is projected to grow at a CAGR of 41.7% from 2021 to 2030. So there’s a lot of money to be made in the coming years.

A private safe space

Of greater concern is the ability to create safe secure worlds where everyone is free to explore these virtual realms without the fear of attack or having their data stolen.

If you’ve already tried apps like Horizon Worlds, VRChat or The Museum of Other Realities you’ll have noticed these places employ several methods to ensure users can avoid harassment, namely, creating a protective bubble. Rather than someone shouting at you from across a crowded room they have to be in close proximity before a conversation can be accepted. Should you find the other person disagreeable you can then exit the conversation or even block them entirely. All useful stepping stones towards a more hospitable environment.

Engaging in a particular platform may come down to the brand itself and whether you trust it. Where would you put companies like Epic Games, Meta, Apple, Google and Microsoft on a trust scale? Some probably not very high at all, especially when it comes to your data.

“Interoperability, open standards, privacy, and safety need to be built into the metaverse from day one,” Zuckerberg said during Connect 2021. “And with all the novel technologies that are being developed, everyone who’s building for the metaverse should be focused on building responsibly from the beginning.”

However, voicing his concerns Dr Marcus Carter, an expert in Digital Cultures at the University of Sydney said: “Facebook’s VR push is about data, not gaming. Metaverse technologies like VR and AR are perhaps the most data-extractive digital sensors we’re likely to invite into our homes in the next decade.”

So does a virtual wonderland await?

There’s no reason why it can’t, there are just a few hurdles in the way first. A lot of the social platforms already available show plenty of promise, whether that’s purely for gaming purposes, socialising, meeting up with like-minded groups, watching a concert or getting creative to earn some extra cash.

How well these places are governed and trusted will be far more essential for their future rather than the latest celebrity endorsement.

January 26, 2022

Eight Things to get you Excited for the Metaverse

The metaverse may seem like an overwhelming prospect to many. In some possibilities it can be seen as a stark departure from the internet we are currently using; some see it as a fully 3D virtual reality (VR) space, while others view Web3 as a more consumer accessible experience guided by our smartphones. Whether you’re gung-ho for the next internet revolution or a little more trepidatious, there are plenty of reasons to get excited about the metaverse.

Fear of Web3 is natural – we’ve become very attached to our Web2 lives, but much like the original advent of the internet, we’re standing on the precipice of something which could change the digital landscape for the better. It’s going to take a while for us to get used to the changes or see how some of them will directly benefit us, but as more creative and innovative people come forward, we’ll see some genuinely mind-blowing changes to our digital lives.

For Those who Want to Express Themselves

Our online identities are becoming more important than ever. In Web1 we were a static avatar on a message board or a blank face behind a keyboard. As we moved into Web2, our identity grew and we established who we were with social networks, or photos and videos shared. With the advent of Web3, the possibilities grow into a more 3D oriented concept. We will be able to display ourselves as 3D avatars which can be dressed and animated to either represent how we see ourselves in reality or become something new and unique.

Much of this expression will be done through micro-transactions and NFTs (non-fungible tokens), allowing us to buy clothes or avatar items in order to sculpt a visual identity for others to interact with. Some avatars will be bought ‘off the peg’, some will be designed from scratch; all of our Web3 avatars will range from the casual to the outlandish and all will mingle together in the metaverse. Users will be able to design clothes and accessories for each other, swap and sell items, or even become a different species. There has never been a better time to express yourself.

For the Collectors and Investors

It’s time to talk NFTs. Whatever your thoughts on the Blockchain movement, NFTs are here to stay. You may aspire to one day own an ape or punk, or you might not really care about them at all, but you need to be aware of how NFTs will evolve and operate. Non-Fungible Tokens don’t need to be JPEGS, they can be music tracks from posters, tickets to online shows tied to your crypto wallet, they could be 3D models from your favourite videogame or they may be the next Banksy.

It’s not really the content which should get you excited, but the possibilities. Smart contracts and protection of the blockchain go far beyond JPEGs, they can protect your purchases elsewhere, allow you to directly fund an aspiring artist or musician, or simply build a collection of media that you own, rather than stream or rent. Digital ownership is something that could be revolutionary to consumers, particularly if fees and resale rules are well thought out and protect the owner.

For Your Spare Time

We already play games together and companies like Netflix and Disney+ allow users to pair their accounts and group watch content, so it’s easy to see that this could grow within the metaverse. It’s likely that these watch parties will be expanded to larger groups, with everyone’s avatar sat together in a small screening room. Home cinema rentals, which became popular during the pandemic, could also find themselves moving to metaverse digital twins of cinema chains.

We would imagine that large streaming providers – Twitch, Facebook, YouTube – may also launch a metaverse component to their repertoire, bringing a whole new aspect to streamers playing through videogames or eSports tournaments. And this is all before even contemplating how massively multiplayer videogames could be played in these new realms. The possibilities are huge: Interactive concerts, videogame charity marathons, book clubs, and more.

For Family and Friends

If the past couple of years has taught us anything, it’s that being isolated is terrible for our mental health and that video conferencing could be better. Especially when gathering with your friends and family. The global pandemic has accounted for huge growth in video networks such as Skype, Zoom and Discord, but they are simply small squares on a 2D screen. Moving into the metaverse will bring a whole host of new functions, many of which would accompany a videogame or DnD session quite nicely.

Meta, formally Facebook (when can we stop writing that?) is pushing its Horizon World VR app pretty hard, attempting to bring fun mini-games and group chats into virtual reality. While Microsoft is pushing Mesh for Teams, allowing users to create a 3D avatar to make things a little more fun. With other services – Decentraland, Roblox and Somnium Space – constantly evolving, we could see some more fun and unique ways to communicate with loved ones as time trots on.

For the Shoppers

When we say that shopping will change drastically with the advent of the metaverse, we don’t mean you’ll be strolling through a virtual supermarket clumsily grabbing bottles from the shelves. However, the metaverse and the technology that comes with it will make some of your shopping experiences much easier and more interesting. AR technology is leaning towards being an AI companion in your smartphone, by reading product images and delivering more information to the consumer. For example, you might pick up a can of tomatoes and along with the nutritional values, you may see a recipe.

Of course, the interactivity of the metaverse will bring nice bonuses when shopping. If you want to buy a new car, a 3D model could be dropped into the metaverse for you to inspect every detail from interior tech to the sound of the engine; buying an album from a digital vendor could see the physical vinyl delivered to your house in reality, with some simple address pairing. Advertisements will shift and change also, becoming more passive through the use of billboards, park benches and product experiences, as opposed to pop-ups and banner ads.

For Work

With Mesh for Microsoft Teams and dedicated apps appearing to lead the way for metaverse conferencing, the way we work from home can dynamically shift. There are so many opportunities to interact with your colleagues; 3D avatars that mirror real-world movements, VR headsets that fully transport you to a new working environment or even software that can emulate several computer screens within a headset to up your productivity without cluttering your home office.

Now so many of us are working from home, it might be worth investigating how we can work within a metaverse setting. Offices and employers can implement new digital workspaces where meetings can be hosted, team building games can be played and you can experience the office atmosphere without someone cooking something gross in the shared kitchen microwave.

For the Artists

We’ve already touched on NFTs above, but it’s worth noting that metaverse technology will usher in a new era in the creator economy. With a decentralised metaverse, artists can set up exhibitions on their own to sell NFTs, or simply show off their work for purchase in reality; musicians can hold concerts large and small; independent game of movie studios can showcase their new products within interactive experiences.

Best of all, if these items are sold on the blockchain, the creator can set their profits themselves. There’s no middleman taking a slice of the pie and any NFTs sold in a secondary market will still see profits going back to the creator using smart contracts. We’re only just seeing surface scratches of what’s possible, but content creators will soon begin leading the way in how the metaverse can boost creators’ revenue and portfolio.

For Teachers and Pupils

As with most of us working from home during the pandemic lockdowns, we saw many kids having to study from home. While the majority of them are back to school, the metaverse can provide new and unique ways to learn. Through digital twinning, people can explore locations that might otherwise be unavailable to them – a zoo or museum, a submarine or the International Space Station! Educators can more easily tailor-make lessons based around abilities within the metaverse. Dangerous chemicals can be mixed, physics can be broken down, historic simulations can be observed closely. Universities can host digital lectures without the many-tiled Zoom screens.

Away from formal education, experts in a particular industry can find new ways to teach their professions or train new members of staff, or Ted Talks can be held in your living room. All of this can utilise the many ways we already interact with the internet. Where possible VR technology can provide full immersion, AR can be capitalised through pupils phones or tablets and desktop computers can still provide a gateway to a new form of learning, as long as everyone is connected to the metaverse.

January 25, 2022

Inspired by Web3 YouTube Contemplates NFT Integration

It seems that even online giants like YouTube are getting in on Web3 and the NFT craze, with the video-sharing giants’ CEO publishing a letter today outlining YouTube’s priorities for 2022. To help bolster its creator economy the company is looking towards NFTs (non-fungible tokens) as another possible revenue source.

Discussing various new sources of funding that creators could tap into away from ads like YouTube’s Super Chat and Channel Memberships, CEO Susan Wojcicki envisions a future built upon NFT’s.

In the letter which describes: “Web3 as a source of inspiration,” Wojcicki said: The past year in the world of crypto, nonfungible tokens (NFTs), and even decentralized autonomous organizations (DAOs) has highlighted a previously unimaginable opportunity to grow the connection between creators and their fans. We’re always focused on expanding the YouTube ecosystem to help creators capitalize on emerging technologies, including things like NFTs, while continuing to strengthen and enhance the experiences creators and fans have on YouTube.”

Wojcicki refrained from going into detail regarding how this might be implemented. But the overall hint suggested that YouTube doesn’t want to get left behind as more platforms offer this integration. Most notably, Twitter launched NFT profile pictures on iOS a few days ago so users could display their NFTs as an hexagonal image. Or then there are Meta’s plans to create its own marketplace.

Cryptopunks - NFTs — Editorial credit: mundissima / Shutterstock.com

The NFT market has become a massive business over the last year, whether that’s collections like Bored Ape Yacht Club and CryptoPunks, organisations such as the NBA or celebrities like Snoop Dogg and Steve Aoki getting in on the action.

YouTube isn’t the only company today showing an interest in NFTs. Further along in its plans is HTC Vive which announced an upcoming NFT marketplace called Vive Bytes. Part of Viveport, Vive Bytes is expected to launch next month with a range of Cat Art NFTs from artist Shu Yamamoto.

As further details regarding YouTube’s Web3 plans are released, gmw3 will keep you updated.

January 25, 2022

HTC Vive to Launch NFT Marketplace Vive Bytes in Feb

Love them, hate them or plain not understand them, one of the hottest trends at the moment is NFTs (non-fungible tokens). There are plenty of global brands getting into this scene with HTC Vive announcing plans to launch its own marketplace called Vive Bytes next month.

Vive Bytes will be part of Viveport, the hardware-agnostic store for virtual reality (VR) videogames and apps. The NFT platform will focus on anime, cartoon, and game-themed NFTs to begin with, with the first wave of NFTs coming from the Step Into Cat Art exhibition by Shu Yamamoto.

Viveport held an online exhibition for Yamamoto’s Step Into Cat Art in September 2021, where guests could view 124 virtual versions of his work. Soon, you’ll be able to own some of these as NFTs. To begin with, the entire The Hisstine Chaple ceiling painting will be available via a series of “Collect-to-Unlock” NFT Mystery Box special events. Anyone who purchases Cat Art NFTs will also get the opportunity to buy limited-edition 3D Cat Art model NFTs, like the one above.

As for Vive Bytes itself, the platform will support both fiat and cryptocurrency payments at launch as well as the ability to link MetaMask wallets to users accounts. In the future, the marketplace plans to add auction features.

“NFTs are changing how we think about identity and ownership, and Vive Bytes is at the forefront of unlocking the potential of creative works and making digital works more accessible for consumers and creators,” said Joseph Lin, general manager at Viveport in a statement. “Following the launch of the world’s first Cat Art online exhibition with our partners last year, we’re delivering new formats of CAT ART NFTs – enabling visitors to grow and diversify their collection of digital works.”

However, this isn’t HTC Vive’s first foray into NFTs. Back in December as part of its Viverse strategy, the company sold NFTs of Art Nouveau masterpieces by Czech artist Alphonse Mucha via its Vive Arts Marketplace.

Vive Bytes is scheduled to launch in mid-February featuring exclusive NFTs during its inaugural sales event. For further updates on the new marketplace, keep reading gmw3.

January 24, 2022

An Easy Intro Into Blockchain Gaming

Blockchain gaming is becoming a beast to reckon with. Games based on blockchain networks have been around for a while now but since the buzz of NFTs and cryptocurrency during 2020-21, the popularity of these videogames has increased. The majority of these games require the player to connect a crypto wallet, which acts initially as registration to the game, but later can use funds to buy NFTs or LAND.

We’ve put together a list of some of the best games across the blockchain networks which require little to no startup capital. Many blockchain games are still in their infancy and require alpha keys to play, the games on this list however are all fully playable and have active player bases and marketplaces.

DISCLAIMER: Some of these games do require a financial investment in order to start playing. Please be aware that the value of NFTs in these games may be subject to market value change.

Blankos Block Party

Blankos Block Party has the potential to be an enormous game; not just an enormous blockchain game, but in gaming generally. Blankos has a bit of everything – great gameplay similar to popular battle royales, bright and vibrant environments and avatars oozing charm and creativity. Some may compare the Blanko to Vinyl Funko Pops and you can see why. Each Blanko is a basic shape with unique designs overlaid. They can be cute, they can be scary, they can be combined to create something entirely new.

Each Blanko is an NFT that can be sold on the marketplace. Of course, nobody will want to buy your basic Blanko, unless it comes from their equivalent to the battle pass, so the idea of collecting duplicates to combine them and produce something fancy is appealing. You don’t have to sell any Blanko though, they’re designed to allow players to express their personalities within the game.

And the game is great fun. Combining the feel of LittleBigPlanet and Fortnite, there are shooting games and foot racing, or you can just hang out in the block and chat to other players while exploring well-crafted hubs searching for easter eggs and hidden areas. Blankos Block Party is very accessible to players of any age and aside from the ability to use NFT avatars, it barely feels like a blockchain title.

Splinterlands

Card battlers are an ideal genre for blockchain games. In reality, card collecting is a massive hobby, so it makes sense for digital cards to be equally collectable, particularly when they are NFTs. With Splinterlands, the gameplay is automatic – once you’ve constructed your deck of cards from your collection you will place them in an order to appear on a battlefield. Once combat starts the cards take turns to act – attacking, defending and casting spells – and you hope that your decisions (and cards) are stronger than your opponent.

The card illustrations are bright and colourful, creating their own style, away from other TCGs. Where Splinterlands gets really interesting is in the card combining, where you can level up your cards to create a more powerful version. This can only be done when you have duplicates of the same card, but it adds a new layer to playing.

Of course, with this being an NFT-based blockchain game, you can sell and buy cards within the game’s marketplace. This is vital to creating a good deck as the cards you receive at the start are very basic. Splinterlands supports purchases from OpenSea, Peakmonsters and monstermarket, so shopping around for the best price is often worth the effort.

Thetan Arena

It seems like some genres enter the gaming industry and never let loose their grip on players. Case in point, the MOBA genre is still big business, even so, many years after League of Legends broke out. Thetan Arena attempts to capitalise on this while using blockchain technology. Every hero is, of course, an NFT, boasting different stats and abilities.

The basic currency token, Thetan coin can be earned from using a free account and these can be used to buy blind boxes or trade heroes. The Thetan gem however brings more of your cryptocurrency features, such as evolving heroes to power them up, or staking money into the game’s future.

The basic gameplay should look familiar if you’ve ever played another MOBA; you control a hero with several abilities or power moves and must eliminate the enemies within the given area. The mix of action and tower defence works brilliantly for a blockchain game and makes a change from autobattlers. Elevating Thetan Arena above some other crypto games is the chance to play as part of a duo, while also playing on mobile platforms rather than just PC.

Mobox

Mobox combines several aspects of blockchain abilities into one overarching title. Not only is Mobox an auto battler, where you build a hero and upgrade their skills to fight others, but it’s also a yield miner. Token Master is an auto-battler you might recognise from so many other games – you build a team of three creatures, in this case, they’re a MOMO, and they fight each other earning you gold and skill points for upgrading their attacks. A MOMO can be bought and sold on the marketplace as NFTs, and you’ll need plenty to overcome challenges.

With MOMO Block Brawler, you build a hero based on traditional classes, assign them skills and abilities and send them into more auto battles. This mode doesn’t require MOMOs to start out and you can fight individual battles against other users, or trawl through dungeons looking for rare gear to improve your hero.

Away from both of these games is the mining; there’s one area where you stake $MOBX to farm for new MOMOs and there’s another that farms in-game gold and books, to improve your hero or MOMOs. The MOMOs are cute and tap into the collectable impulse in our brains, more so when you begin to customise them with outfits and accessories.

Gods Unchained

While Splinterlands (above) visually taps more into Hearthstone, Gods Unchained is zooming in on Magic the Gathering. It’s not just the visuals either, Gods Unchained hopes to bring a level of complexity to the TCG genre. This is far from an auto battler and requires real-time tactics, as well as loading your deck with the best cards in your collection.

Gods Unchained feels like MtG and Hearthstone had a little NFT baby. There are all the usual TCG skills like regenerating health, spending mana points to act and combining attacks to boost your offensive plans. If you’re a fan of Magic the Gathering, the transition to Gods Unchained will be a simple and enjoyable one. And while a little crypto can ease you to more wins, the game is great at rewarding you with packs to open and cards to collect without spending a fortune.

The boards, card animations and character designs are all superb and will definitely scratch an itch you didn’t know you had. If you’re looking for a tactical game to play and hopefully earn some crypto along the way, you can’t go wrong with this one.

January 20, 2022

GDC survey shows crypto, NFTs not popular among game makers

The Game Developers Conference's 10th annual State of the Industry survey revealed some interesting insights into the future of games.

January 20, 2022

Meta to Enter the NFT Marketplace Arena

At first OpenSea, Rarible and other marketplaces have been running the non-fungible tokens (NFTs) trading arena, with almost no one able to touch their monthly volume. Today, a new report by The Financial Times (paywalled) suggests that Meta is working on plans to allow users to create and sell NFTs.

This news might not shock many: a couple of months ago, Mark Zuckerberg changed Facebook’s name to Meta, then he said that: “NFTs could one day be wielded to support a market for digital goods in its planned metaverse.” The CEO’s intention is pretty clear, as he said the company plans on: “investing 10 billion USD annually in building its metaverse effort over the coming decade”

In 2021, the NFT market reached over $40B USD amid growing interest for PFP collections such as Bored Ape Yacht Club, CryptoPunks, Hashmasks, Cool Cats among others. Also, famous entrepreneurs have been buying NFTs and talking heavily on their social media about their investments: one example is Gary Vaynerchuck creating the NFT collection VeeFriends which quickly sold $170+ million.

We cannot discount the impact that many popular musicians have had on the NFT sales volume. Snoop Dogg created a partnership with the popular metaverse game The Sandbox, launching an NFT collection that will allow owners to participate in private activities on its virtual LANDs, while Steve Aoki has been showing its Doodle NFT collections while playing during his concerts.

Also, sports athletes have been flexing NFTs on their social media: an example is legendary basket player Shaquille O’Neal flexing a Creature’s NFT on his Twitter profile.

It doesn’t come as a surprise Zuckerberg is interested in the creation of an NFT Marketplace; Meta and its apps – Facebook, WhatsApp, and Instagram – have over 3.6 billion active monthly users. Imagining the opportunity to turn many of the content that is created daily on these platforms into NFTs is something that could increase the total sale volume of the NFT space by a long shot.

How are the other NFT Marketplace reacting to today’s news? Currently, OpenSea is the current market leader – they recently announced the acquisition of Dharma, with their founder Nadav Hollander becoming the new CTO – and they hope to decentralize their platform to appeal to their user base.

LooksRare is a newcomer to the arena, however as data from Dune Analytics shows, the trend is clear and many users are choosing to use LooksRare instead of OpenSea, as currently there are more advantages in terms of taking advantage of the $LOOKS token fees.

If Meta wants to be successful with its new NFT Marketplace it’ll need to create a true Web3 concept, following the example of what LooksRare is doing: building a decentralized protocol where the community is the centrepiece for success, not only something to use to make money. Is Zuckerberg ready to embrace a more decentralized business model? Only time will tell.

For continued updates on this story keep reading gmw3.