Some Things About NFTs You Probably Want To Know

March 18, 2021 4 min read

The world of eCommerce, cryptocurrencies and supplementary technologies / ethos that inhabit them are confusing! There's so much noise and bad information, where do you begin?

This article will share a broader, cohesive, picture of where this is heading that you can flex and repeat to friends🤯. These ideas are just memes and I encourage you to share!

It feels like my life's work between the digital art world, my decentralized delegation toward community, and crypto are finally converging. It’s amazing.

So… here’s some aspects to NFT you probably want to know early.

Let’s discuss the crossroads of digital assets, IRL products and virtual worlds.

In the near future we will begin offering NFT (non-fungible tokens) with purchases of our clothes for our customers to wear both at home and in virtual worlds. The products will be tied to one NFT; making it a collectors item and unique identifier.

Digital NFT Pop-Up Shop | 📸boomboxhead

In the near future, the digital aspect of these purchases will bridge the parallel worlds inhabiting VR (virtual reality, Web3.0), AR (real life wearables), and obviously our regular material world.

Do you sell coffee tables? You probably want to start learning this. There will be many multiples more houses in the virtual space than real life.

What are non-fungible tokens?
It is a type of media data stored on a blockchain that authenticates ownership. In practice, it replaces the need for certain copyright/trademarks at the software level and will enable both scarcity and true ownership of digital assets. This could be your online identity (that Facebook currently holds hostage), your music, or–in our case–3D models of our clothes for customers to wear in online Metaverses.

What is a Metaverse?
We already live in several. The information bubble Google, Reddit, and Facebook deliver you are examples of three different bubbles, with three different avatars you occupy as an extension of your “self”.

Digital Photoshoot Space w/ Green Screens | 📸boomboxhead

That said, the Metaverses I mention are referring to the inevitable arrival of Web3.0. That is a whole separate conversation we can have if people are curious. For now, just think of interoperability (your same identity can travel between facebook to twitter), digital ownership, and multi-layer context (be it VR or AR). This is being built for you to no longer use your thumb to scroll the phone.

Podcast Studio | 📸boomboxhead

Video games are metaverses. These become interesting when crypto-NFTs are involved + the MMO-like Web3.0 projects that are currently being developed.

Soon our customers will be able to try on and own our clothes in both the digital and real world w/ one purchase.

NFT-based VR MMO by Webverse

This is where all those Zoom calls are headed

There will be normie versions of these things but, there’s no denying we already hold a lot of value in the digital realm. Even our regular bank accounts are just ones and zeros. With the addition of NFTs, you will own your identity like a passport and take it with you.

NFTs are the first step toward pivoting the financial model of the internet

As the rest of my post has painted, there will still be commerce and actually it will be commerce at a larger scale since you can now sell purely digital items. People with AR glasses will see a chair downtown or on a screen and be able to immediately buy it. This is what Facebook’s product tagging is building towards.

NFTs and the market now say digital data, novel ideas, and creations carry an inherent value. There will be totally different forms of social networking formed around this positive-sum network driven innovation. Creatives will rely less on advertising models. Collectives, organizations, and communities will become more powerful than any individual was able in Web2.0 (wallstreetbets as example).

Some websites might increasingly only allow certain uploads in the form of NFT (or comparable device)–this is already happening in Web3.

This will increase the total pie of the internet and creative space by many multiples. Old methods and ways will still likely exist but there will be more opportunities, especially for the best among us.

Final note

This is only a peak at the early developments of one metaverse. The cultural leanings you have will eventually have its own space as creativity and community fills in all the idea-niches. I didn’t really touch on AR but it will be happening simultaneously, likely a little before full Web3 VR, but when it catches fire it’ll blow up.

I think that’ll happen once you no longer need to look at your phone or scroll. Although probably some type of PokemonGo gamification of the AR world will be a trigger too.

I’m sure this sounds pretty bad to our lovable Luddites in the crowd but I think there’s more to be hopeful and curious about here than our current outlooks may warrant. This feels more hip hop than Orwellian. We are escaping the Orwellian situation with this. It’ll be the individual’s choosing to pick the right reality.

Neo from The Matrix

Leave a comment