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    The Future of NFTs in a Web 3.0 World – Visual Capitalist

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    The following content is sponsored by NFT.com.

    NFTs will take the world by storm in 2021, ushering in the digital arts revolution and becoming one of the fastest growing asset classes of the year.
    The technology of non-fungible tokens allows artists to offer digital originals without relying on middlemen, while receiving royalties on secondary sales of their work. But this use case is just the beginning of what non-fungible tokens bring to the new world of Web 3.0.
    Sponsored by NFT.com, the graphic demonstrates the growing utility of NFTs and how NFTs have already built communities, enabling unique and tradable game assets, and ownership and identity in the Metaverse Are. It shows how we are building the foundation for
    NFTs provide complete history and proof of ownership of digital assets or other assets represented by non-fungible tokens. This feature enables the creation of unique digital assets and commodities that can be freely bought and sold by anyone on the open market.
    Today, NFTs are evolving to offer more utility in various industries.
    As the online world transitions from Web 2.0 to Web 3.0, NFTs are forming the foundation of digital communities, economies and assets.
    The initial development of NFT use cases came in the form of using non-fungible tokens as “membership passes” for digital communities. Ownership of NFT profile photo collections such as Cryptopunks and Bored Ape Yacht Club (BAYC) has, of course, been pivotal on which the owner community has formed.
    Profile picture NFT collections such as Oni Ronin are now building on this idea, with access to exclusive workshops and events, free airdrops from other NFTs, and prizes for owners of the Oni Ronin NFT collection. We offer a raffle.
    NFTs are used to provide exclusive access to in-person events as well as access to online communities and events. Because NFTs provide immutable proof of ownership on the blockchain, the technology is poised to solve major problems in the world of event ticket sales such as counterfeiting and digital theft.
    Gaming is one of the key areas where NFTs provide utility to players by enabling ownership of purchased in-game assets. Projects like DeFi Kingdoms on the Harmony blockchain will feature NFT “heroes” that players can buy, sell and rent on the open market.
    These NFTs not only provide ownership of in-game assets, they are also productive assets and can be sent on quests to earn players in-game items and cryptocurrency. These items can be exchanged for cryptocurrency or used to craft other items that empower your heroes.
    The integration of NFTs into blockchain games such as DeFi Kingdoms, Axi Infinity and Krabada has created a vibrant in-game economy where NFTs are valued based on their attributes and statistics that determine the amount of cryptocurrency they earn. Ta. These games reward your playtime by leveling up your NFT assets to increase your earnings and increase the chances of rare and valuable items dropping.
    Worried that someone in the metaverse is using your username? NFT already enables ownership of custom “.eth” Ethereum wallet addresses via the Ethereum Name Service (ENS). , with over 671,000 unique “.eth” addresses registered to date.
    As NFTs, these custom addresses are integrated into other decentralized applications, making previously complex wallet addresses personalized and easy to remember.
    Instead of a long series of numbers and letters like “0x0079784df055a06EC5A76A90b24”, ENS allows much simpler wallet addresses like this: “Visual Capitalist.eth”,
    Other projects, such as NFT.com, use NFTs to provide users with custom ownership of their personal profile, such as ‘www.nft.com/yourname’, allowing users to own their NFTs on decentralized social networks. to show off and share.
    Like usernames and wallet addresses, non-fungible tokens are becoming the underlying technology for assets within the metaverse. The Metaverse project, The Sandbox, is already using NFTs to represent digital land, objects such as furniture and decorations in virtual spaces, and more.
    In March 2022, Sandbox will generate over $24 million in sales for NFTs representing Metaverse Real Estate, with top regional brands and celebrities such as Atari, Snoop Dogg, South China Morning Post, etc. owns a parcel ofwas the owner of
    NFTs are just beginning to revolutionize the ownership and exchange of digital assets, laying the foundation for digital communities, tradable in-game assets and the economy of the Metaverse.
    >> NFT.com is building a decentralized social network of the NFT world, managed and owned by the community.
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