Blockchain is a core technology that differentiates itself from other technologies by having solved the double expense with the emergence of the blockchain in 2008. Nonfungible tokens, or NFTs, were driven by blockchain technology which brought scarcity and interoperability to nonfungible tokens. But, what do blockchain technology and NFTs have to do with Metaverse? Why are large companies experimenting with NFTs in Metaverse?
The term “metaverse” first appeared in 1992 when Neal Stephenson released his science fiction novel Snow Crash. In this book, humans interact with each other and with software agents such as avatars in a three-dimensional space that acts as a metaphor for the real world. While it was Stephenson who first used the term, the idea of a virtual reality-based successor to the internet was already being discussed by internet pioneers in the late 1970s and early 1980s who envisioned the internet of the future as a shared virtual space. A place where our physical world blends with the virtual and creates new digitized spaces somewhere in between.
Tatiana Revoredo is a founding member of the Oxford Blockchain Foundation and is a strategist in blockchain at Saïd Business School at the University of Oxford. Additionally, she is an expert in blockchain business applications at the Massachusetts Institute of Technology and is the chief strategy officer of The Global Strategy. Tatiana has been invited by the European Parliament to the Intercontinental Blockchain Conference and was invited by the Brazilian parliament to the public hearing on Bill 2303/2015. She is the author of two books: Blockchain: Tudo O Que Você Precisa Saber and Cryptocurrencies in the International Scenario: What Is the Position of Central Banks, Governments and Authorities About Cryptocurrencies?
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Read More: Why are major global brands experimenting with NFTs in the Metaverse?