NFTs Will Be Key to Accessing the Metaverse—And Beyond

Read the full article by Shreyansh Singh here

The metaverse is still emerging, but it's becoming clear that NFTs will be the key to unlocking many parts of it.

About the author

Shreyansh Singh leads Polygon’s NFT and gaming arm, Polygon Studios, an NFT-centric gaming hub that helps web 2.0 game developers integrate web 3.0 elements and NFTs into their platforms.

. The views expressed here are the author's own and do not necessarily represent those of Decrypt or Fal.

Key points

• The future of NFTs will be bright for hobbyists and collectors all over. While the metaverse parallels the real world, it is also an extension of it.

• Augmented reality will allow creators to take on a whole new role of bridging the gap between reality and the metaverse.

• Many believe that the Metaverse will move more towards materialization and NFTs may stand as some sort of status symbol.

• One may argue that the metaverse has already materialized through NFTs like the Bored Ape Yacht Club, Cool Cats, Crypto Punks… in many ways one can say owning NFTs in that upper class or “blue chips” for the sake of twitter is a great marketing tool.

• With the genie out of the bottle, various projects and games are rushing to capitalize on the intersection between the metaverse and NFTs. They are changing the way we interact online.

• One example is Decentraland with its limited number of LAND tokens that denote ownership of metaverse real estate.

  The path to the NFT future

• A few weeks ago, while on an earnings call with investors, Facebook CEO Mark Zuckerberg reportedly uttered the term “metaverse” a full 16 times while describing the company’s roadmap.

• The possibilities are truly limited to the imagination of the community. While the metaverse already technically exist, it’s NFTs that stand to bring it to life in our real, physical world.