NFTs Move Beyond Digital Art in Web 3.0
NFTs have only just begun to revolutionize the ownership and exchange of digital assets. They are laying the foundations for digital communities, tradeable in-game assets, the economy of the Metaverse, and more.
In this post, let’s explore the use of NFTs in the Web 3.0 space… moving beyond digital art…
#1 Creating Digital Collectibles
NFTs can be used to create unique digital collectibles that cannot be replicated. This makes them valuable and sought-after by collectors. Digital collectibles can take many forms, such as art, clothing, sports, or virtual real estate.
Some brands have already started experimenting with this concept. Among them are:
· Adidas created an NFT collection titled “Into the Metaverse,” comprising virtual wearables that buyers can use in the Metaverse, with physical clothing to match. All 30,000 NFTs were minted within hours, netting the company more than $22 million from the NFT sales.
· Balenciaga designed four virtual outfits and various accessories for Fortnite avatars. How cool is that!
· Prada (Italian luxury fashion house) and Adidas announced a selection of bold and refined apparel and accessory that carry the DNA of both partners minted as NFTs on the Polygon network.
Digital collectibles are a great way for brands to promote themselves and their products... while generating a brand-new revenue source with an innovative and cutting-edge offering.
They also offer a new and innovative way for customers to engage with the brand.
#2 Metaverse
You may have heard the buzz about Metaverse and are wondered what it is.
According to Lai Ann, CEO of Consortium 21…
“Metaverse is a Massive and Interconnected network of 3D Virtual Worlds that you can keep going in Repeatedly through various Devices like VR, and potentially meet with Unlimited Number of other people in the Same Place at Real Time. It’s a space where you feel like you’re really there. You can play, interact, dance, trade, network, exercise, and learn in the Metaverse. It’s the BIG NEW THING!”
Virtual lands and spaces will be critical components of the Metaverse.
NFTs serve as a key concept in the Metaverse ecosystem. These are just a few examples:
· allow users to own virtual goods in the form of real estate, items like cars, accessories, and paintings.
· users can sell land for profit, rent it, host social events, and build shops on existing land.
· Metaverse users access their digital avatars using NFTs (replicas of their real-life identities). Each avatar is tokenized to establish ownership of the true identity.
· NFT ticketing in events.
· award ownership and transfer ownership of in-game items and accessories like skins, armors, and tanks for secondary market trade.
There have been lots of exciting activities and initiatives going on with Consortium 21.
The media launch of Consortium 21 Metaverse Cities on 26 May 2022 was a huge success!
We are excited for the NEXT phase i.e. the launch of Consortium 21 Metaverse Cities beta version, where selected beta testers will get first-hand experience in our Consortium 21 Metaverse Cities.
If you have any questions, how about meeting both our CEO & CTO in real life tomorrow to ask them your burning questions?
Consortium 21 is hosting a biz networking session with experts from the Web 3.0 space.
Why attend?
- Get an understanding of how Web 3.0 is changing the business landscape
- Hear from experts about the latest trends and opportunities in this space
- Learn how to future-proof your business with this new technology
- Network with like-minded individuals and businesses
Details:
Date: Thu, September 8, 2022
Time: 8:00 PM – 10:00 PM Malaysia Time Malaysia (Kuala Lumpur) Time
Venue: Golden Sources Education Sdn Bhd
NO 11-15-1, JALAN JALIL PERKASA 15 ARKED ESPLANAD
Bukit Jalil, 57000 Kuala Lumpur, Malaysia
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