NFT is a fantastic technology, but because the crypto market is still in its infancy, its usage is relatively bland and does not fully utilize its potential.
NFT was created so that you could actually own the digital assets that you paid for, as opposed to traditional games where even if you spent a month grinding that legendary item to complete your set, you don’t actually own it, even if you own it in game. It is still owned by the company that created the game.
If you were to leave that game and never return or if that same company went bankrupt and had to shut down its servers. That item you worked so hard to obtain is no longer available. It is true that the time you spent playing the game was not wasted because you thoroughly enjoyed it and were totally absorbed in its story and game-play that you would not hesitate to play it again. However, wouldn’t it be nice to be compensated for your time? Let us not forget that our time on this planet is limited, and yes, we do want to have some fun from time to time. Making money from your favorite game isn’t absolutely necessary. It is, however, good to know that you can.
Technology advanced to the point where you can spend hours playing a game you enjoy while also receiving something in return.
Back to the topic of “The Value of Digital Assets”: Most NFTs today are nothing more than a small picture or a short video that you can buy and claim ownership of. That’s fantastic, but it misses the point of owning that asset if it has no actual value. Yes, you now own it, but it’s still the same small picture or short video regardless of whether it was an NFT or not. Did you receive anything else in exchange? Sure, you can sell it back to the market to the next person who wants to own it, make a profit, and call that NFT valuable because it made you profit. That still puts it in the “It’s only useful if someone buys it” loop for the next person who buys it. Unless, of course, someone decides to keep it as a collectible for bragging rights or for whatever reason you decided to keep it.
When it comes to using the NFT, you don’t have many options. We’ve all heard how something that appears to be so simple, even pixelated, can be worth a fortune. However, this is not the case for the vast majority of them. You only hear about these NFTs that were sold for exorbitant prices, but you don’t hear about the rest of them on the marketplace. Today, thousands of NFTs flood the market and sit there with the owner, hoping that someone will like it enough to buy it. Possibly even putting a major hurdle in the way of artists who created something unique.
People are becoming more aware of it nowadays. I’m hearing a lot more about how ridiculous some of the purchases are for something as small as a profile icon. And, by the way, the memes are fantastic.
This entire topic is critical because, in Afflarium, the NFT you’re about to purchase must have more uses than simply holding it as a collectible or selling it. Most, if not all, of our NFTs will have some kind of value attached to them, whether it’s a key that grants you special access to various places and events, or a weapon of some kind that you can use, sell, or rent, among other things.
What effect does VR have on NFTs? The scope for NFT utilization, on the other hand, can grow exponentially depending on the core mechanics of the virtual universe upon which it is built. That is why we believe it is critical that we build our virtual universe on a cutting-edge game engine like UE5 so that we can endlessly explore the capabilities of not only NFTs, but also anything else that goes into our virtual universe. The possibilities are endless and the skies have no limits.
Afflarium — is a special and realistic Virtual Universe combining virtual reality, cryptocurrency, NFT, digital property, a real economy, and a unique gaming experience with Play to Earn techniques.
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