Innovation is frequently sparked by disruptions to daily life during times of crises. The United States entered a financial crisis in 2008 as a result of huge banks' willful gambling with their clients' money in high-risk endeavours. Blockchain was created in the wake of this upheaval, providing a crucial tool for changing a dysfunctional system. All digital currencies and NFTs are based on the blockchain, which may be thought of as its engine or system. Blockchain keeps track of every transaction in a way that makes changing, hacking, or gaming the system challenging, if not impossible. Decentralization refers to the movement of control and decision-making from a centralised entity (person, organisation, or group thereof) to a distributed network (group of people).This ground-breaking technology places the power in the hands of its users and demands responsibility and openness.
.jpg)
A VERY BRIGHT 🔆 FUTURE 🔮 FOR YOU
👇👇👇
You become a partner of the company.
Mark your calendars!
— Purr Safe Club (@ClubPurr) July 9, 2022
Here’s your contest update..Purr Safe Club will conduct a Q&A session based on PURR NFTs on the Discord server from 11th to 15th of July. Members who actively engage in the session will receive exclusive gifts.
Join Discord: https://t.co/JuhRXamif2 pic.twitter.com/QfxCDPZhIY
The objective was to create a new monetary system that worked for everyone involved and could be transparently monitored, rather than being controlled by a small group of people who made decisions behind closed doors. Bitcoin was the first significant blockchain invention. Which was also the first universal money, a money that can be easily exchanged across nations and had no exchange rates.
As our society grows more worldwide, this takes on a lot more significance. The process of obtaining cryptocurrency is the same as exchanging cash from your nation for foreign currencies. The main difference is that you trade your money on a very safe site, like Coinbase, Robinhood, or Metamask, rather than going to a bank. It's important to remember that traditional banks also retain your money in a digital format and face the risk of being hacked if you're worried about the movement of money digitally.
A VERY BRIGHT 🔆 FUTURE 🔮 FOR YOU
👇👇👇
The fact that conventional banks are insured is an advantage. But because cryptocurrency is based on the blockchain and every touchpoint is monitored, it is far more secure. This translates to greater security with a lower chance of hacking and easier tracking of any hackers.
Ethereum was the next step in the growth of the blockchain. Another cryptocurrency that offers a flexible framework that enables the implementation of "smart contracts" is Ethereum. The digital assets associated to these smart contracts are code packets that guarantee each item is uniquely identifiable, traceable, and verifiable. These contracts are essentially unhackable and uncopyable and may be used with anything digital. All NFTs (non-fungible tokens) are accompanied with smart contracts. Simply said, NFTs are things that you can buy using cryptocurrency, most frequently Ethereum. In other words, cryptocurrencies are the new currency, and NFTs are the digital commodities you purchase with your cryptocurrencies.
A VERY BRIGHT 🔆 FUTURE 🔮 FOR YOU
👇👇👇
When Beeple sold his digital artwork "Everydays: The First 5000 Days" for $69M in collaboration with Christies, NFTs began to garner notice from the general public. Although there are several applications for NFTs, they now seem to be linked to the art industry. A piece of digital art (or data) may often be replicated many times without the author or buyer having any control over this duplication or a method to verify the original work.
It is quite simple to fabricate certificates of authenticity or copy paintings, according to Michael John Peters, a fine artist with more than ten years of experience. Depending on whether they have provenance (a traceable history) and a certificate of authenticity, some paintings that are precisely the same in size and composition might sell for wildly varying prices. For instance, a Picasso artwork that was authenticated and confirmed sold for $2.2 million. In contrast, a separate Picasso painting that was of a similar size, composition, and selling date but without a provenance only brought in $160,000. NFT offers a lifetime proof of provenance and an ironclad, indestructible evidence of ownership.In the future, an NFT will be connected to every painting, both digital and actual.
A VERY BRIGHT 🔆 FUTURE 🔮 FOR YOU
👇👇👇
"NFTs can be accessed by a global community from a range of global NFT marketplaces that take a minimal (or even no cut), allowing artists to create more wealth, unlike the standard exchange of art where galleries and agents take a significant share of the artists profits," Jessica Salomon continues. Additionally, NFTs enable artists to interact directly with their audience as every purchase is recorded on the blockchain and the relationship between the creator and beneficiary is obvious. Real conversations between creators and customers are made possible on other social platforms by this transparency, which encourages viral communities and followers.
Because of the epidemic last year, pplpleasr was jobless and applied for every job she could find. This year, however, she is selling out of magazine covers and performing on stages with well-known musicians like James Jean and Steve Aoki. Pplpleasr said, "Crypto/NFTs altered my life not just because of the money and investing opportunities it exposed me to, but also because of a friendly community of enthusiastic individuals who aren't scared to challenge the current quo."
A VERY BRIGHT 🔆 FUTURE 🔮 FOR YOU
👇👇👇
It won't be long before there is no longer any debate over whether NFTs are relevant. Major businesses are developing in this area since they are aware of it:
NFT integration on Twitter
Facebook is contributing to the creation of a metaverse.
Nike is developing NFT shoe verification.
A NFT market is being created by Coinbase.
Warner Bros. previously made available the Space Jam NFTs and wants to make music NFTs available.
We have only begun to scratch the surface of what NFTs and smart contracts can do, which is why investors and collectors are rushing into this new market. The general public is still unaware of the potential of NFTs, and many still see them as passing trends. Nevertheless, during the following ten years, innovation in this field will continue. These are only the most basic use cases for smart contracts, along with their first stages. Other examples of sectors that will probably see NFT disruption in the near future include the following:
A VERY BRIGHT 🔆 FUTURE 🔮 FOR YOU
👇👇👇
Gaming
One of the next fields of application where NFTs will likely undergo a significant fundamental transformation is the gaming industry. Digital identities, including personal histories, accomplishments, communities, tales, and status, have significant intrinsic worth for gamers. Digital products like costumes to give their avatar a distinctive style, boosts to better their performance in the game, or unlocking material to explore new tales and worlds are some of the expensive games that players spend hundreds or even thousands of dollars on.
The Play-to-Earn paradigm is now available. a place where users may play games, add value to the ecosystem through their gameplay, and win NFT digital goods. By possessing these items, players may sell their NFTs and really profit alongside the game developer. Instead of potentially exploitative developer-customer relationships, this fosters synergistic ones. And as opposed to being centrally managed by a single game publisher, these NFTs are really owned by the player. Your NFTs may continue work and be useable in other virtual worlds even if the game closes. Power and wealth are distributed in this radical paradigm shift.
A VERY BRIGHT 🔆 FUTURE 🔮 FOR YOU
👇👇👇
Social Effects
The potential for NFTs to have a beneficial impact on the world is what makes it so intriguing. Leyline, a nonprofit that is driving the charge with social impact through NFTs, was founded by Jeremy Dela Rosa. The goal of Leyline is to develop a sustainable NFT identity and ecosystem that values, recognises, and rewards social and environmental accomplishments. On their platform, users may earn NFT collectibles by making the world a better place. Their NFTs stand for a cause or objective for which people sacrificed much and a particular period of time when the world was a better place.
On the users' NFTs, the user's tale of the good they done is preserved and remembered. You may exhibit your Leyline NFTs as works of art in your own gallery (both in the digital and real world). Clicking on your NFT will allow friends and visitors to view the narrative of your contributions. The nicest thing about these NFTs is that they have the power to motivate people to do good deeds and that they can be purchased using the money of social impact. The way that Leyline connects the physical and digital worlds is fantastic.
People are encouraged to make a difference by finding solutions to issues in the real world and are then rewarded digitally with collectible NFTs and the chance to buy tangible items like a Leyline purse or backpack.
Ad
.jpeg)
(A very bright future, in which you will become a partner of a permanent owner of a company. Which will give your future a golden light. Which is a huge gain by a perpetually improved time and advanced process. In just a few days, it has sold more than 36 of the 207 NFTs, and everybody has received ownership, as part of the ownership of the company. Which is an aspect of earning a very large permanent guarantee.)
A VERY BRIGHT 🔆 FUTURE 🔮 FOR YOU
👇👇👇
You become a partner of the company.
Finally, it is important to highlight Leyline's novel business model, which is closely related to the principles on which Blockchain was built: democracy and transparency. They are creating a DAO (decentralised autonomous organisation), a novel type of organisation and governance in which important decisions are not only determined by one group of individuals.
On the Leyline platform, anybody can submit a proposal that will be voted on by the whole community. Additionally, they organise Discord events where they respond to inquiries from the public and record all of their meetings before making them available for public viewing. The paradigm for a novel approach to corporate responsibility and transparency is this new wave of company. The public is clamouring for this kind of approach following the recent disclosure of wrongdoing by businesses like Facebook and Airbnb.
A VERY BRIGHT 🔆 FUTURE 🔮 FOR YOU
👇👇👇
Real Estate
Markets for real estate are primed for change. The blockchain will be used to record and make publicly available contracts, certificates, ownership information, and claim history. automating a tonne of paperwork and getting rid of multiple levels of middlemen. Additionally, it will lessen fraud, which regrettably occurs more frequently than you may imagine. Real estate fraud will become a thing of the past once more real estate contracts are formed as NFTs and maintained on a safe blockchain. Such Smart Contracts are almost hard to change, simple to verify, and permanently recorded. This degree of protection is available to any digital item developed as an NFT.
disruptor and futurist, Mortgages are also NFTs, says gmoney. If all of the MBS indices were completely transparent and on chain, would the 2008 financial crisis have even occurred? Re-hypothecation would not have been an option, underlying assets and leverage could have been monitored in real-time, and the entire banking system wouldn't have collapsed, necessitating a government bailout.
A VERY BRIGHT 🔆 FUTURE 🔮 FOR YOU
👇👇👇
The Metaverse
Metaverses for virtual reality are currently being developed by businesses. Metaverses are online settings where the internet is practically brought to life. With the use of virtual reality headsets, augmented reality glasses, smartphone applications, or other devices that incorporate virtual touch, you may build your life in metaverse worlds, engage with real people in virtual communities, create your own avatar, work, play, and discover new worlds. A metaverse is something you're probably already familiar with if you've ever seen the movie Ready Player One. Entire virtual worlds are being created and envisioned with the aid of cutting-edge AI, the acceptance of global standards, and continuously improving computer processing power. The internet of today will appear like a silent movie in compared to the metaverses, which you and your kids will be able to visit.
NFTs will be a crucial component of metaverses and the foundation for resources that may be used in all of these realms. As you create your virtual residence, the "prints" of replicated digital artwork that you purchased from collectors will hang on your walls alongside original NFT artwork. You bring your friends over to your immersive digital home so they can enjoy your NFT music and examine your NFT art, which now symbolizes not just the original creation of the artist, but also the history of the work and the journey you took to get it. Your pals show up right away without using any fossil fuels or calling an Uber.
They didn't stop to pick up chips on the way, but they did bring you a new avatar shirt as a housewarming present.
A VERY BRIGHT 🔆 FUTURE 🔮 FOR YOU
👇👇👇
The metaverse will converge with the physical world thanks to NFTs. For instance, virtual worlds will feature digital versions of real-world locations, NFT Art galleries will be able to operate in both the physical and digital worlds, and music performances will take place in both real-world venues and virtual bars. Tickets will be sold as NFTs, and they will be included in your digital concert ticket collection that is displayed in your digital home, along with an e-signature and a handwritten note from the artist.
Those that entered the market first include:
First-movers into the market include:
Decentraland - A digital land
Sandbox - Open gaming metaverse like Minecraft powered by NFTs
OnCyber - 3D NFT Galleries
VCCESS - Launched the first phase of their metaverse, which is a social marketplace.
A VERY BRIGHT 🔆 FUTURE 🔮 FOR YOU
👇👇👇
Deficiencies in NFTs
NFTs are still in their infancy. The majority of people have trouble understanding this extremely complicated piece of technology. There are several significant obstacles that must be addressed in order to achieve widespread adoption:
1) The NFTs must support a true value that is acknowledged by all communities as having some practical benefit.
2) The user interface must be straightforward and smooth. The majority of people just follow the directions without understanding how Google Maps' algorithms function. Similar to this, blockchain apps just need to make it simple for consumers to utilise NFTs rather than educating them about them.
3. Compatibility across chains and apps. Every developer is aware that interoperability of their NFTs with other markets, games, and applications will only increase the utility of their NFTs and benefit their users in the burgeoning metaverse. Through the power of network effects, it also increases their potential audience.
4) Cryptocurrency stabilisation and acceptance. NFTs are bought with cryptocurrency. Your buyer's market will stay tiny if not enough individuals hold cryptocurrency or if they are reluctant to spend any of it since its value might swing sharply either way.
5) Keep your valuables in storage. The assets (images, videos, and music) for NFTs can often have relatively big file sizes, which is one of their present issues. The majority of developers will thus store the item "off-chain." This indicates that the song's true location is not on the blockchain and that the NFT is only referring to a file that is stored on another server. The issue with this is that the real asset underlying your NFT would be lost if that service provider or the original NFT marketplace went out of business. Basically, everytime you look at your NFT, you get a "file not found" message.
Both solutions to this problem—IPFS, as one promising example—and methods to compress assets so they may truly exist directly on the blockchain are now being explored. However, there is still much to be done before we can envision NFTs that can last genuinely forever without any upkeep.
6) Users must pay a charge in order to manufacture or mint an NFT (also known as a gas fee). According to Griffin Anderson, "Gas price often costs upwards of $50 USD on most well-known blockchains like Ethereum. For artists and makers, these expenses may be exorbitant. Fortunately, emerging blockchains like Archway will provide customisation, enabling a project to subsidise gas costs so that the end user won't have to shell out a hefty sum to mint or even acquire an NFT.
A VERY BRIGHT 🔆 FUTURE 🔮 FOR YOU
👇👇👇
Benefits of NFTs
1. Blockchain is essentially safe, decentralised, available everywhere, and intended to empower people and increase their wealth. It has inherent resistance to censorship and corruption by a select few powerful people. It establishes the framework for a completely new layer of online apps and services. Due to these special advantages, practically any service and application that exists now may and will be rebuilt on blockchains. From social media, streaming services, and decentralised finance (De-Fi), through gaming, entertainment, business, healthcare, and supply chain management. And then even more radical developments, like bioengineering & AI safety measures, will come.
2. Modern investors may access the complete spectrum of investment risks and a diversified portfolio thanks to the combination of a crypto and NFT marketplace, which also empowers deserving innovators and disempowers brokers who don't bring anything to the process.
3.The route out of poverty is through asset ownership. There are 1.4 billion individuals who are not banked and cannot use the conventional financial system. Just consider what you couldn't do without your bank account: obtain a loan, credit card, purchase a car, sell something on eBay, etc. The majority of us in the developed world take this for granted. NFTs and cryptocurrencies alter this paradigm. These 1.4 billion individuals now have the chance to obtain a wallet, engage in online markets, make art, music, and games, as well as get funding for their businesses.
A VERY BRIGHT 🔆 FUTURE 🔮 FOR YOU
👇👇👇
For the first time in their life, they have the capacity to accumulate fortune. providing their families and communities with economic vibrancy. State and national boundaries, as well as logistical and physical constraints, don't matter in the digital economy. Virtual worlds and communities facilitate value exchange at essentially no operational expense.
1. The unique identification of each asset allows collectors and investors to certify the legitimacy of the item in advance and to feel secure in the knowledge that the contract cannot be altered or fabricated. While also lowering entrance hurdles and levelling the playing field for the typical collector and investor, this technology is ushering in a new era of secure investing.
2. The contract cannot be amended or manipulated, so collectors and investors can clearly understand what they are getting in advance, validate the legitimacy of the commodity through its distinctive identification, and feel secure. This technology is bringing about a new era of safe investment while simultaneously lowering entrance barriers and levelling the playing field for the typical collector and investor.
The Upshot creator, Nick Emmonds, continues, "The intense enthusiasm around NFTs is well-deserved. NFTs will start to represent a far more varied collection of financial assets that can be used effectively throughout the crypto/DeFi ecosystem, going beyond art and collectibles. The beginning of how individuals will engage with real estate, insurance, options, and other NFTs is when they take out loans against their collections of digital art. NFTs are the last ingredient needed to decentralise the rest of our financial system and allow for the emergence of fundamentally new financial interactions. As a result, there will be a significant rise in financial inclusion around the world, enabling enormous populations to participate with a financial system that has hitherto been out of reach for them.
A VERY BRIGHT 🔆 FUTURE 🔮 FOR YOU
👇👇👇
Technology, People, and Change
Humans and technology have always progressed together. Today, however, technology is developing more quickly than ever before. Unexpected effects are frequently associated with innovations. It's unlikely that the laptop's designers intended for their devices to foster thriving mobile communities throughout the globe or the effects of reading emails while in bed, which may make it difficult to detach from work. The fact is that every breakthrough has unintended consequences.
Knowing that the blockchain's creators created this technology with the goal of democratising and elevating individuals throughout the world is encouraging. It will be crucial for the originators to maintain their principles, particularly if offers of power, money, and acquisition from major corporations begin to flow their way. Each of us has the ability to influence this new planet and our society by the decisions we make as we usher in this new period of future technology advancements. This evolution has only begun, and we are in its infancy. Let's go into it knowing what world(s) we want to be a part of, who we will give power to, and how we will influence the course of civilization.
.jpg)
.png)
.jpg)
.jpg&description=NFTs: The NFT Of The Future (Non Fungible Token)){kind=link}
0 Comments