NFT ECOSYSTEM AND THE METAVERSE

The NFT ecosystem is expanding day by day and more use-cases keep showing, the latest is its use-case on metaverse. Metaverse is a very interesting project and it has loads of potential, seen as the future by many.

According to Wikipedia, metaverse is typically used to describe the concept of a future iteration of the internet, made up of persistent, shared, 3D virtual spaces linked into a perceived virtual universe. Coined from "meta" (beyond) and "verse" (universe), metaverse points toward a virtual World. It is a world itself but all virtual, where anyone from any location can interact, play games, attend meetups and do a whole lot more virtually with ease.

It covers a whole lot including the Internet as a whole, and the entire spectrum of augmented reality. The common aspect of metaverse is the gaming aspect, gamers are taking advantage of it to meet new players and have more fun.

All objects have to be represented by something in the metaverse including assets and things that can be traded and used, which is where NFT comes in. NFT makes it possible for users to own digital assets that cannot be duplicated, and can be traced as all transactions are recorded on the blockchain. The technology of NFT grants holders the true ownership over digital items, an attribute that is much needed in metaverse which is wholly virtual.

There will be lots of buying and selling in the metaverse, and NFT technology is the best at keeping digital assets ownership and also the immutability of its transaction details. This is a big reason as to why everyone making use of the Internet should know one or two things about NFTs and how to take advantage of the numerous opportunities, anyone with an open mind will have a lot to gain from the NFT technology.

Although the metaverse is still at an infant stage, it is obvious that NFT technology will play a big role as time goes on. The NFT projects are beginning to lean towards metaverse, a great time to explore projects and what it entails. OKEx, a world leading cryptocurrency exchange, is a big fan of NFT and also has a marketplace where NFT can be minted and sold with ease and trust.

About OKEx
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