I. NFT Applications in the Metaverse
NFTs’ use cases in the Metaverse vary from games to digital identities. While some…
Art: NFTs’ uniqueness makes it possible for NFT art to occur. The general way of displaying and selling NFTs for artists is through NFT marketplaces such as OpenSea.…
Games: As NFTs are digitally collectible, it is functional to use them in metaverse games to represent characters, avatars, etc., and provide in-game items. Metaverse platforms collaborate with game companies to create gaming platforms in their metaverse with the concept of “play-to-earn”.…
Identity: This application of NFT satisfies the uniqueness of people’s identities in metaverse platforms. Avatars that are created to match the real faces of metaverse platform users are one way of providing real identities. It increases the reality of the platform by being “the most identifying item in the public [m]etaverse”. Also, by creating NFT-based identities linked to real identities it becomes easier to control the Metaverse-based communities as only NFTs are added to or removed from communities.…
Land: Another area of the metaverse that NFTs take place is land- both as digital things and digital twins. Digital things are things that do not have a twin in the real world and only exist digitally. In the metaverse platforms, it is possible for users to create their own lands as a digital thing and its ownership is secured by NFTs. Not only as digital things but lands that are identically the same as their physical twins in the real world exist in the metaverse. Physical assets are tokenized and represented there by NFTs.…
The government of Türkiye has also started a project to create one of its cities…
Certification: NFT’s uniqueness feature enables users to take their real-world competence to a virtual platform by assigning NFTs to be equal to certifications. Users can prove their abilities in the Metaverse platforms and they can also acquire digital certifications by attending Metaverse-based courses. Positions and degrees are also possible to be assigned to NFTs. Virtual characters can obtain their real identities’ life standards by owning their degrees, certifications, etc. in the metaverse. This function of NFTs paves the way for metaverse platforms’ creators to provide a better real-world experience in a virtual world.…
Market: Another advantage NFT provides to metaverse platforms and makes it a more like real-world experience is its ability to create markets and services available. To provide real-world experience and attract people, brands, and businesses make their products and services available in the metaverse. For example in 2021, Coca-Cola put the “Coca-Cola Bubble Jacket” NFT on sale. Pizza Hut has also released the first NFT pizza and sells it for 0.0001 ETH.…
Some brands in Türkiye have also launched their initiatives in the metaverse. LC…
To realize the purpose of providing markets and services in metaverse platforms,…
EN
TR
