NFTs have revolutionized art, but the metaverse is propelling change
Since time immemorial, art has been relatively subjective and yet one of the most prized possessions of man. Be it paintings or sculptures, books or vinyl records, owning art rather than consuming art is considered perceptive and royal. Psychologically, it gives the owner a sense of power to own a unique and rare piece of art, and so from exclusive painting exhibitions to limited book sales, people generally rush in hoping to get involved.
Exhibitions have been an indispensable source for the sale of paintings or sculptures to the end users for years. However, the new wave of digital transformation has changed the industry. NFTs or non-replaceable tokens have linked the crypto and art worlds, giving collectors ownership of digital art. NFTs operate as a non-exchangeable unit of data stored on the blockchain. NFTs became a clear extension of the industry and complemented traditional art, thanks to the unique feature of transparency and ownership.
The latest arrival of the metaverse has changed the way digital art can be traded and displayed via NFTs. While NFTs started out as digital art, the combination with the metaverse means that NFTs now serve as a digital asset that can be displayed in virtual reality, such as virtual art galleries, museums, or even incorporated into the landscape of a virtual landscape. In addition to the aesthetic component, NFTs’ smart contract functionalities can also facilitate the sale of real estate in the metaverse. For instance, RTFKT – a shoemaker in the metaversehas designed limited edition digital sneakers that can be worn virtually.
The metaverse is a new world with endless possibilities, meaning land ownership is becoming more common. Real estate in the metaverse opens up a world of possibilities for entrepreneurs looking to expand their business, expand their network of customers, and present their products in a different way. As more businesses move from traditional retail and e-commerce to the metaverse, real estate and land ownership is becoming increasingly important.
YUNOMETA is an eclectic series of NFTs for collectors, a marketplace and a virtual shopping center that provides users with an experience pioneering the virtual revolution of e-commerce. To provide users with a seamless experience, YUNOMETA provides interoperability between different blockchains to help users explore, access and share information with ease.
The metaverse has enabled true globalization of the arts industry, and that change has created a knock-on effect, impacting several other creative industries, such as fashion, architecture, music, and entertainment. The combination of NFTs with the metaverse has propelled art into a new dimension with endless possibilities