Published on May 5, 2024
By: Xalyur Immudetes
Staying updated with the latest trends in Blockchain is crucial for establishing a solid knowledge base. Instead of paying for courses from self-proclaimed experts who promise to teach you in record time about Bitcoin and Ethereum, you can skim through daily headlines, jot down what seems confusing, do some research, and complement your efforts with an introductory book. It’s crucial to grasp this: Learning about this sector isn’t something achievable over a couple of Saturdays. Take your time.
While some may argue that we’ve already covered this advice, I strongly believe that strategic repetition is essential for reinforcing comprehension. It’s about refreshing readers’ memories and providing fresh insights to a new audience. Periodically, our team revisits certain topics and enhances them with relevant updates. Given the surge of NFTs, which have empowered numerous creators to digitize their unique assets, we feel compelled to address this topic once again.
If you haven’t been keeping up with why NFTs are so pioneering, don’t worry – I’ve got you covered. NFTs, or Non-Fungible Tokens, have grabbed headlines in media outlets worldwide. They offer creators a fresh avenue to monetize their work directly to consumers, cutting out middlemen. This newfound freedom has sparked a surge of creativity in realms like video games, music, and even sports –where iconic moments can now be tokenized, from historic goals to unforgettable plays… Let’s not forget about the Metaverse, a concept that gained significant traction in 2022.
Let me briefly explain what the Metaverse is. It’s a three-dimensional online space, a digital universe where people can interact, exchange digital goods, and have fun. While this technology is still in its early stages of development, it has the potential to revolutionize our way of life and work, as well as our current virtual interactions. We’re talking about a space where individuals can create personalized avatars to explore different environments, build communities, and engage in activities such as buying, selling, and trading using cryptocurrencies and tokenized assets like NFTs.
“The metaverse is on the rise and is poised to become a significant aspect of our everyday lives. In due course, it has the potential to reshape how we work, entertain ourselves, and interact socially”.
Sundar Pichai, CEO of Alphabet Inc.
Let’s dive into some of the most intriguing updates about NFTs. In March, Square Enix, the renowned Japanese developer behind blockbuster video game franchises such as Final Fantasy, Kingdom Hearts, and Dragon Quest, teamed up with the web3 gaming platform known as HyperPlay. As part of this collaboration, Square Enix committed to investing funds to support the platform… In December 2023, Square Enix launched its NFT-based video game, ‘Symbiogenesis‘, on HyperPlay. This groundbreaking project features over 10,000 NFT characters available for sale as each chapter is released – reportedly, there are plans to offer 6 episodes.
“Through Symbiogenesis, we aim to provide quality Web3 entertainment. Square Enix chose to leverage Polygon’s high transaction speeds, low gas fees, and overall user-friendliness to deliver this unique experience”.
-Naoyuki Tamate, producer of ‘Symbiogenesis’.
“This collaboration (Square Enix and Polygon) highlights the growing traction of Web3 among major developers worldwide”.
-Urvit Goel, former Global Business Development Lead at Polygon.
You can preview ‘Symbiogenesis’ here.
In other updates, it’s worth mentioning that CARV, a web3 data infrastructure company, recently announced the final approval of its new standard, NFT ERC-7231. This advancement aims to securely link multiple web2 and web3 identities to a single non-fungible token. Just picture an NFT containing verified information from your Twitter, and LinkedIn accounts, and one of your digital wallets. The goal is to enhance interoperability, simplifying the management of multiple accounts and identities for users. The proposal was initially introduced in June 2023 and we can now refer to it as an official standard.
Many people will get to gather their info and compile it into a metadata file designed to encompass a variety of identities. Users can personalize this file by including any ID from a web2 account or a web3 wallet. After that, a one-of-a-kind hash will be created for each user ID, allowing users to connect each hash to its corresponding NFT. You can check out CARV’s press release by clicking here.
“When you buy an NFT, you get the token, not the copyright. It’s like buying a painting. So, even if you own an NFT, you don’t have the copyright… Surprisingly, you can still sell it, like in the traditional art world. I’m very hopeful about this tech’s future.”
Mike Winkelmann, digital effects artist.
We’ll wrap up this article with an exciting update: Earlier this February, the iconic Empire State Building (ESB) introduced a new ambassador program designed specifically for New Yorkers hosting guests in the city and fans of its renowned Observatory Experience. Essentially, when visitors head to the ESB website and purchase tickets for the 86th and 102nd floor Observatories, they earn points that can be redeemed for complimentary experiences and collectibles. Every new member of this program receives a personalized ESB NFT upon registration, with additional custom NFTs awarded to individuals as they progress within the initiative.
Jean-Yves Ghazi, president of the Empire State Building Observatory, stated:
“We want to demonstrate our appreciation to our fans for their loyalty and offer them exclusive access to premium experiences and the best views from the heart of New York City”.
NFTs are changing the way we interact with digital assets and online culture. Their rapid evolution underscores the importance of staying in the loop with the latest trends and information, whether it’s through keeping up with the news or chatting with fellow crypto enthusiasts. We like to drop interesting tidbits to spark your curiosity and inspire you to dig deeper. If you have any questions, don’t hesitate to reach out. Make sure to follow us on social media for updates on everything related to Hamza.biz, the first Web3 e-commerce platform powered by the LOAD protocol. Happy exploring, and until next time!