NFT: One of the Metaverse Pillars

Through the development of the web, we have seen Web 1.0 that provided access to information. Then, Web 2.0 that represents the era of social networks and interaction with the web. Nowadays, we are living the transition to Web 3.0, where the metaverse brings an additional dimension with immersivity, that is to say an environment in which everyone feels fully present.

What is a Metaverse?

The word “Metaverse” means “beyond” (meta) “universe” (verse). The term covers all virtual universes. It is a 3D virtual world, interactive, and immersive, in which users can live experiences through an avatar (virtual character).

The concept applies to 3D video games, but also to new types of metaverses built on the blockchain, such as Decentraland or The Sandbox. The blockchain brings a decentralized character to these universes. Thus, the metaverse becomes an open and independent ecosystem in which everyone can participate, build elements on it, and even spend and earn money on it.

Learn more about Play2Earn in our previous article.

How important are NFT’s for the Metaverse?

In a metaverse, it is possible to buy/sell lands, buildings, clothes for your avatar, etc.

These virtual products take the form of Non-Fungible Tokens (NFT).

Therefore, NFT’s are an essential component of the metaverse. They represent all the goods that can be acquired or earned on the metaverse: 3D constructions, accessories for avatars, digital works of art exhibited in museums, or even Proof of Attendance Protocol (POAP).

Blockchain and NFT technologies have enabled the development of interoperability between these different worlds. Because NFTs are titles of ownership registered on the blockchain, ownership of a digital asset is not limited to the borders of a particular platform or a specific metaverse. Technically, it is the ERC-721 type standards that allow the use of an NFT in different applications and metaverses.

What is ClubRare Universe?

The dedicated metaverse platform scheduled to be released by ClubRare is a personalized mini metaverse that can be connected to other metaverse platforms. Individuals and anyone who wants to promote their brand can create a mini metaverse through ClubRare. Users can decorate both inside and outside of their mini metaverse to suit their identity. The mini metaverse is one axis of the AGOV token economy.

Learn more about AGOV Token in our previous article.

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