What exactly is the relationship between NFTs and the Metaverse?

NFTs and the Metaverse are interdependent, symbiotic and prosperous. So what else can NFTs bring to the Metaverse? In July last year, Zuckerberg formulated its metaverse plan, which will be defined as a real Internet in which you are not just watching, and make facebook a metaverse company, and is committed to creating a metaverse through VR and AR. Cosmos business model, the report also said that Facebook plans to change the company name to Meta, reflecting its focus on building a "metaverse". What is the relationship between NFT and the Metaverse?

Let’s start with the first point. Everything can be NFT. NFT enthusiasts define the metaverse as a collection of operable shared online worlds, so that users can use tokens to trade in the metaverse through digital identities. VR, AR Avatars represent digital images created by users. The same VR and AR avatars can be used in multiple games or social applications, and virtual properties purchased on one platform will retain their value on other platforms. At present, the value of many NFTs Linked to scarce assets and services in the real world, the industry is growing at lightning speed.

In order to realize this vision, from multiple perspectives, the prosperity of NFTs is not just a speculative frenzy driven by VR, AR avatars or digital identities, but also a battle for digital land and a battle for the metaverse of tech giants In the competition for the commanding heights of the new digital domain, NFT will become an important infrastructure of the metaverse, and its uniqueness and irreplaceability will provide a reliable basis for people to map real world things into the metaverse, and it has been initially shown at this stage. It has its value, but there is still a lot of room for imagination in the core and extension of NFT in the future.

The second point is that NFT is equal to the anchor value. Technologies such as 5G, Internet of Things, and artificial intelligence can be said to be the infrastructure in the development of the Metaverse, but these infrastructures only provide technical solutions, just like building a school. All kinds of facilities are ready, but without teachers and students, the school cannot operate. If the metaverse needs to operate, it needs economy in addition to technology, and NFT can provide anchor value in the world of the metaverse. Each NFT is uniquely corresponding to a certain real thing. Users can truly enjoy the unique digital ownership of web3.0, and transactions can be carried out based on this unique and value-scarce value anchor. With transactions there will be an economy, and the metaverse will function normally.

To put it simply, NFT is a basic and indispensable element in the metaverse. An NFT work is infinitely close to a real product. On the trading platform, people can trade NFT functions like buying clothes and mobile phones, and everything can be transformed. Trading on NFT platforms for digital products. Finally, let’s summarize that NFT’s contribution to the development of the Metaverse will not be here. At present, various fields of the industry have started the layout of the Metaverse combined with NFT, such as NFT China, Ethereum Ecology, facebook, and Tencent. Begin to meet the basic test framework for the combination of NFT and Metaverse. Although the wind of Metaverse + NFT has just started, the future development potential is huge. In the NFT industry development report 2021Q1, the transaction volume of NFTs such as games, Metaverse, sports, and music only accounts for 20% of the US$2 billion transaction volume. It is mainly based on collectibles and art trading. I believe that in the future, there will be more and better NFTs to help the development of the Metaverse.

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