One of the most important aspects for the user in each meta-universe is the ability to accumulate assets, acquire unique content and dispose of it in different ways. Thanks to blockchain technology, all player actions and financial transactions are transparent and protected. Everything is stored in a database with transactions, which consists of a chain of blocks, they have information about the previous and the next block, because of this all records are unchangeable, no one can correct or erase them. And then comes the question: how do you know that, you own a truly unique item and how do you protect your copyright?
Non-exchangeable tokens, also called ERC721 standard, help us in this case. Let's say you bought subway tokens, each of them will be indistinguishable from the other, they are absolutely identical - in the cryptoworld this is called the ERC20 standard. But with the ERC721 standard (NFT), each token becomes unique, and it contains a link to an asset you own. NFT is thus a digital certificate of authenticity and ownership.
Each non-interchangeable token is unique - it exists in only one instance, and information about its creator, buyers, and owner is stored on the blockchain. When you purchase an object, you are securing ownership that is relevant worldwide. NFTs gained real popularity in 2021, according to analysts, their monthly sales are now kept around 12 billion. NFTs often confirm a user's right to a picture, music, video, book or other similar digital content that is stored on some server.
In the context of the meta-universe, NFT technology has become the most convenient and reliable option for user interaction. For example, the play-to-earn model, through the use of non-interchangeable tokens, allows users to participate in decentralized management of the economy. Receive rewards for gameplay and thus earn, for example, by having assets of NFT resources.
In the Decentraland meta-universe, players can purchase virtual territories on the platform, which are NFT tokens for the cryptocurrency MANA. Users can dispose of their plots of land as they wish, similar to the real world. There are a variety of ways to monetize: reselling, renting, advertising, holding open and closed events, providing real estate for exhibitions and marketplaces.
In the virtual world of Axie Infinity, users own unique NFT pets that look special, and each of them can be pumped up. Developing a pet is necessary in order to participate in arena battles against other players and earn tokens. In addition, you can simply pass quests and mini-games. By breeding and pumping up their Axie, players receive AXS tokens for in-game operations, selling at a rate and participating in decentralized project management.
The SandBox meta universe allows players to create buildings, own property and monetize their in-game activities. For artists and other content creators, there are all conditions to create and sell their NFT art objects to other interested users. The SAND token in this virtual world is the main currency for such transactions.
Virtually any metavirtual universe in which users have the right to create and own unique content is directly linked to non-exchangeable tokens. NFT technology makes the digital world and its content so diverse, unique and interesting. Ownership and the ability to sell one's assets attracts users, and trading digital items is becoming more popular. Today we've figured out what an important function NFTs serve in the metaverse. We hope you found this material useful.
