Robert Steinadler, a year ago
On the Internet, no one knows that you’re a dog. And in the metaverse, you can show off your riches by buying non-fungible tokens. Gaming becomes a more and more important sector in the crypto industry for several reasons. Players identify themselves with content and like to own it. Tokenization makes this possible and last week another pricy item was sold.
Most people on earth cannot afford a yacht. And those who can are not so much concerned with the price for the boat, but the yearly maintenance costs. You can always sell the boat, but the money to maintain it is definitely gone.
While a real yacht will cost around 10 % of its price per year for maintenance, a yacht in the metaverse is practical a steal. And that’s probably what the new owner of the “The Metaflower Super Mega Yacht” thought when he gladly paid 150 ETH on Opensea 9 days ago.
The ship comes with a DJ booth, a helicopter landing pad, a hot tub, and a few more amenities that the new owner can enjoy. Virtually, of course.
To get on board the ship the new owner has to enter the Sandbox. The NFT will allow him in-game access to the boat which is designed to be the crown jewel of the Sandbox. The project was hyped only recently when Adidas announced that they are going to become a part of the Metaverse.
With the "Metaflower Super Mega Yacht", the most expensive item on the Sandbox has been sold. Critics have pointed out, that it is crazy to buy things that aren’t even real and pay millions of dollars to become part of a virtual world that has unlike real life no intrinsic value. Still, gamers love their content. Starting with skins and building and owning virtual homes, players feel that these items belong to them.
NFTs are a way to certify that ownership and might grant certain rights in the future. Applications like the Sandbox and Decentraland have a use case that follows a rationale that creates a conflict with the everyday idea of ownership that many people hold as their view.
If a yacht is a set of data that can be copied anytime, how do you become the owner? While critics have good arguments against NFTs they have no real answer to this question. It seems that NFTs are the best answer to that question so far.
May 22, 2023
On Saturday, Tornado Cash's DAO was taken over by an attacker, or group of attackers. It's another backlash for the plagued coin mixer which makes privacy for Ethereum holders possible. In an interesting turn of events, a day later the attacker proposed to undo his attack. Never a boring day in crypto!
May 17, 2023
Ripple has been fighting against the SEC in court since December 2020. Some analysts believe that the case could conclude this year, while others argue that each party could try to appeal the court’s decision. Whether the subject is finally settled, all believe the first verdict will provide essential guidance in the US judicial system. Should the SEC lose, then many other crypto projects could be strengthened. Winning the case could mean the SEC could go after many other cryptos.
May 16, 2023
Apple's WWDC 2023 event will kick off on June 5. Rumors that Apple will present a first look at its AR/VR headset are doing the rounds. Supposedly looking like a pair of ski goggles, the headset will only arrive on the market at the end of this year. Being crypto investors, let's talk a bit about the potential implications of this for metaverse coins.
May 15, 2023
Today the Bitcoin Cash network will go through a voluntary hard fork to implement an upgrade. One particular part of that upgrade is highly interesting since it introduces tokens on the Bitcoin Cash blockchain. Tokenization has been a topic for several years and it seems that Bitcoin Cash is late for the party. However, Ordinals have proven on Bitcoin that even a late arrival can still unleash a storm and create a billion-dollar market.
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