VR and NFTs Gamechangers for the 21st Century

ARTICLES | Feb 22, 2022
VR and NFTs Gamechangers for the 21st Century

The COVID-19 outbreak has turbocharged technologies such as VR.

VR and Blockchain have fueled the rise in non-fungible tokens (NFTs), assets with a Blockchain code that make them like unique artworks or human DNA.

NFTs are being developed and used in various fields, such as art now being traded through Blockchain with an ever-rising value. This technology could lead to a fully online society, because NFTs will let us to create avatars that seamlessly resemble who we are in the real world, without fear of personal data theft, information leaks, or cyberattacks. NFTs use the same principles as Blockchain to protect our identity in the virtual world. Image files and data are protected using encryption technology. Using NFTs on virtual platforms is implicitly authentic.

Implications for the future:

- Innovations from VR and NFTs will make visual data scarce and increase its value.

-NFTs will amplify the importance of the individual to create a new economy in the future.

- If everything in the world becomes rare and can't be replicated, similarities may become desirable and valuable instead of distinctive differences.

References from: https://www.entrepreneur.com, https://hackernoon.com

Want to know more about us, click www.futuretaleslab.com and https://www.blockdit.com/pages/6184ec3b07f0660cad381cf9.

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