![]() In virtual worlds such as Decentraland, Sandbox, Somnimum Space, people can display their NFT art collections, walk around with friends, visit buildings and attend events. A patch of virtual land in the blockchain-based online world Decentraland sold for more than $900,000 recently. Blockchain-based real estate in virtual worlds has surged in price as part of the NFT market frenzy which began in early 2021. This costs more than a real house in many North American cities.Īnother trend in the crypto world is to invest in virtual real estate. Toronto-based artist Krista Kim has sold the first NFT-backed digital home for over half a million dollars. The value of NFTs is therefore understood as certifying the creation of the digital item as “unique.” And that digital creation can be anything, including digital architecture. “Non-fungible” means that it’s unique and can’t be replaced with something else. That’s why NFT(Non-fungible tokens), the latest application in blockchain technology, arrived on the scene. ![]() Save this picture! Courtesy of Mars Houseĭigital items are already more than a $10 billion market, and in order for digital items to have real, lasting value, they must exist independent of an entity who might decide at any moment to remove or disable the item. NFT in Art: The Rise of the Digital Assets Otherwise, you will not survive as a company.Įxtended Reading: Tim Sweeney, The CEO of Epic Game, interview on Metaverse Economy. ![]() There will be no other option but to join the new game. Some of the pioneers of industries to be the first in building metaverses are gaming, fashion, Hollywood, and crypto. Like it or not, COVID-19 has changed our work culture, accelerated the rise of e-commerce, and transformed how businesses operate. Commercial real estate owners are struggling as tenants are either ditching the offices or downsizing, while video conferencing companies like Zoom has seen massive success and boomed amid pandemic. We’ve seen various brick and mortar retail stores closed their doors, at the same time fashion brands like Balenciaga chose to debut its latest collection in a video game. The whole world is witnessing a major shift from the real economy to the digital economy, and the integration of these two has been accelerated drastically since the global pandemic. Contributions can also add value to the metaverse in other ways.”įor many years, the internet is mostly a 2D catalog with hyperlinks, and now it finally starts to look interesting with the potential for 3D experiences and will change the way we work, shop, live, how can architects play a role in shaping and enriching the grand metaverse?īig Picture: The Rise of the Digital Economy Everyone makes their own for the metaverse through content creation, programming, and game design. Roblox co-founder Neil Rimer puts forward: “The energy around the metaverse will come from users, not the company.” Epic CEO Tim Sweeney also emphasized: “Metaverse does not come from any industry giant, but the crystallization of the co-creation of millions of people. Like Mark Zuckerberg said, “Hopefully in the future, asking if a company is building a metaverse will sound as ridiculous as asking a company how their internet is going.”Īt the same time, Roblox and Epic Games, the most “Metaverse concept stocks” at present, also believe that the metaverse must have decentralized genes and avoid being monopolized by a few forces. Unlike the centralized metaverse Oasis in “Ready Player One”, tech communities believe that metaverse should be an open and interoperable ecosystem, not dominated by any single company. Save this picture! Courtesy of Movie “The Matrix” Screenshot Sustainability and Performance in Architecture The Future of Architectural Visualization
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