Web3, NFTs, Metaverse: The Tools for a Truly Decentralized Future

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Attendees of the BlockDown Croatia 2022 festival witnessed different innovations in Blockchain technology ranging from cryptocurrencies, NFTs and the metaverse. As it turns out, innovations in the cryptocurrency ecosystem are well positioned to dictate the future of media and entertainment. NFTs already offer artists and journalists an avenue to raise funds to enable them to continue their artistic work.

Cryptocurrencies and NFTs are bridging the digital and physical worlds because of the metaverse’s potential to provide answers to certain real-world problems. NFT3 founder Dylan Dewdney said the metaverse could make the world a better place. However, it will cause people to be forced to inculcate regarding fairness and personal responsibility. Obviously, laws and rules will be established to make the metaverse a fair and pleasant place.

Developing the metaverse would also mean discussing the sociopolitics involved in living in the metaverse, because humans will bring to the metaverse the same problems they have in the real world.

The metaverse is getting a lot of attention recently because many companies like Meta are starting to develop their technology to position themselves in this market as the referents. In addition, EPIC Games the parent company of the video game Fortnite has raised $2 billion to create its own metaverse that will include a video game within it. Finally, venture capital firm Andreessen Horowitz has recently launched a $600 million Games One Fund dedicated to gaming startups with a focus on Web3.

The metaverse has enormous potential to change the way we live our lives, and make us begin to emerge into the digital world.

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