Even though the NFT ecosystem is still a universe or rather a multiverse, unexplored with endless possibilities, with no clear or unanimous direction, we know that this industry, even if it is in its infancy, experimental and innovative, has filled several social niches. Everyone from big brands, institutional investors to football players seem to be focused on this universe, even with the recent drop of almost 99% of daily transactions in some markets such as “The open sea”🇧🇷 However, what can we expect from him in the future in the new Economy?
Unlike the already mature cryptocurrency market or the traditional established financial environment, the NFT market scenario as we know it today is in a highly speculative moment with a modest grip compared to its potential, making evolutionary analysis much more difficult.
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Speaking about its future, we depend on several variables, from the growth of the user community, the development of new experiences and ending with its promotion in society, in different areas, so that it is something simple, accessible and uncomplicated for the average user. end, such as the elegance of PIX keys.
To provide a new experience, in addition to using it to acquire “JPEG artwork” for evaluation or use in the gaming industry, we need to address its origins: what does NFT mean? (“Non-Fungible Token” or “Non-Fungible Token”). Simply put, in legal language, the Brazilian Civil Code, Law 10,406 of 2002, in its art. 85, states that “furniture which can be replaced by other furniture of the same type, quality and quantity is interchangeable”. Therefore, NFTs are by definition not interchangeable.
In this regard, the question arises: what if there was a large (decentralized) registry office that could register and guarantee “Proof of Existence”, “Proof of Ownership”, “Proof of Authenticity”, “Proof of Participation”, “Proof of Qualification”, “Proof of copyrights and trademarks”, “Proof of carbon reduction”, in short, all the necessary proofs for the NFT guarantee? Also, what do we need to see mass usage? What can we expect from total immersion in this sector?
One of the newest and brightest NFT experiences, although it appeared a few years ago, in a hackathon, at the ETH Denver Convention, the POAP “Proof of Attendance Protocol”, originally developed in ETH, gained momentum, evolving into xDAI (Gnosis Chain) due to for the high cost of blockchain fees, which are proportional to the price of its assets, are fully compatible with the ERC-721 (NFT) standard in order to popularize its use.
So you’re asking, “What’s your biggest difference?” The answer to this question is simple: lower rates. For example, 500 protocol transactions cost only $0.01. This new trend of POAP NFTs was created to celebrate and register participation in a specific event, but the future shows that this can be extrapolated beyond evidence of attendance such as entry/event tickets, vaccine certificates, certificates, steps taken in games or gamification. some activity, for example, in addition to countless other possibilities.
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Another brilliant NFT experience is the use of the “Soulbound Tokens” (“SBTs”) protocol, developed by one of the creators of the Ethereum network, Vitalik Buterin, in May 2022, which would give a different dimension to its use in decentralized societies. functioning as credentials, authentication (and “reputation”) of users, up to use in the management of wallets for storing decentralized user data “Storage of user data”, certification of user data of any nature, such as medical, laboratory, university diplomas, exclusive and unique certificates, the main feature of which is non-transferability, although revocable.
As a result, it is becoming increasingly clear that one of the best operational strategies in the new brand-focused economy centered on the user and information owner will be to bet on the experience universe. ” and “Soulbound NTF” together with Blockchain (decentralized) notary offices, expanding and creating new experience, passive and active income for users and companies with huge cost reduction, attracting and creating new breakthrough enterprises in line with the “Web3” concept, is envisioned on coming years.
Rodrigo Pimentatext author, electrical engineer, graduated from Poly-USP, MBA in Economics, Finance and Operations at FGV-SP, TEDx speaker on the topic “blockchain”and the author of publications “Artificial intelligence and genetic algorithms”. He has 14 years of experience at Banco Itaú, where he was one of the first corporate IT architects and is currently the CEO and founder of Hubchain Tecnologia, whose pioneering work is dedicated to offering innovative solutions in “blockchain”artificial intelligence, digital e-wallets, exchanges as a service, payment gateway, stock and cryptocurrency trading platforms, token issuance, NTF and other smart contracts, and IoT/IoM software and hardware integrated with technology “blockchain. Rodrigo has been involved in some major discussions while drafting crypto asset laws for some countries regarding ecosystems in “blockchain” and is considered one of the greatest technicians in its segment.
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Source : Married Games
