The world of NFTs has exploded in the last year. So, it doesn’t surprise us that every conversation, every development in...
The world of NFTs has exploded in the last year. So, it doesn’t surprise us that every conversation, every development in the realm of these trending collectibles brings something new to the surface.
A phenomenon that started as exclusive encrypted art and memorabilia has expanded to include game content, music, film, memes, fashion, and more. It seems like anything that can be owned securely and exclusively via blockchain technology can potentially be part of an NFT marketplace.
NFTs can make a political statement or contribute to the world of academia. Although NFTs are still heavily rooted in the art world, that will not be the status quo forever. In fact, it’s clearly likely to continue evolving. Even incorporating Augmented and Virtual Reality Content.
VR and AR Content as NFTs
Once you enter the world of NFTs, once you’ve caught this fever, it’s easy to start wanting each item to do more, be more. And in our world of expanding possibilities, NFTs can meet that need. They can be art you experience. A collectible you enter, project, wear, showcase – all at the same time.
Think about the allure of having a VR experience that changes your life. And then imagine that you, and only your chosen few, will ever get to interact with that immersive content.
Consider the appeal of AR filters with a cool factor never seen before. A filter that makes previous offerings look like preschool art. And you’re the only one who has it.
“All-in-all, the general consensus is that NFTs are here to stay and
will have a profound impact on the AR and VR industry.” – Anne MacKinnon, VR Scout
We’ll soon be seeing more immersive experiences or augmented content that are also exclusive, collectible even. The concept of purpose-built VR and AR isn’t new, but the prospect of securing it with encryption to guarantee that exclusivity is. What exactly will this look like? Will NFTs break out of their current corrals and start showing up as one-of-a-kind loot in Fortnite or League of Legends?
Are You a Collector or a Creator?
If you’re new to the world of NFTs, you’re probably wondering where you fit in. Do you have the talent and the know-how to create one? Or would you prefer to get your feet wet as a buyer?
As a creator, the appeal is immediate. Finding your tribe and monetizing your content means the difference between a career and a hobby. If you create, you know that the process of producing content of any kind is so labor-intensive that, to do it well and often, creating needs to be your full-time occupation. Which is only viable if it earns money.
As a collector, the appeal is equally strong if you “get it” and value creators and their work from a holistic perspective. If you collect, there is a rush in landing an item (be it art or another object) that belongs to you and nobody else. There is a kind of power in something precious being yours until you’re ready to release it back into the world.
So, the question isn’t WHY would someone make or want NFTs? The question is WHAT can constitute NFTs when growing supply and demand benefit both parties?
Private Worlds & Exclusive Accessories
As you consider entering the world of NFTs with VR or AR content, you need to clearly define what you want from that content. As either a creator or collector. Take the examples above, the Mars House and the MF DOOM mask.
Immersing yourself in a private luxury home on Earth is desirable. On Mars? Well, that’s a new level of exclusivity. If the imagery and the tech behind it make the experience feel amazingly real, the sky is the limit as to what someone might pay to have it all to themselves.
Social media filters are also undeniably trendy. But an edgy, never-before-seen filter. And you’re the only one who has it. Yeah, we can see the appeal of that too.
But don’t stop here when it comes to visualizing what you want from an NFT and why. And if you’re considering creating or shopping for VR/AR NFTs, the next stop in your journey (after the conclusion of this blog post, of course) is the buzzing marketplaces where these exclusive items are bought and sold.
Marketplaces for NFTs
Now that you’re ready to dive a bit deeper into the world of digital art and collectibles, it’s time to familiarize yourself with the world’s top marketplaces for NFTs.
Launched in February 2021, this marketplace is open to anyone as a Collector, but Creators must be invited by an existing member. And Development contribution is invited via their free and open API.
A creation and minting app enabling anyone to make NFTs without needing to code. Complete with a marketplace and a seller’s university with detailed, tiered information designed to walk members through the process of buying and selling.
Founded in 2017, this is the original and largest marketplace for NFTs. The selection (and competition) is huge, but we think it’s worthwhile to browse and search the over 34 million NFTs here.
In a booming tech niche, how could we not include an up-and-coming social NFT marketplace on the verge of launching? This promising platform will link NFTs and the Metaverse, resulting in a level of digital asset exclusivity reminiscent of the Oasis. Make sure to sign up for their VIP beta launch.
A fairly straightforward marketplace with open-source tools intended to simplify the process of creating, selling, and earning royalties.
An immersive NFT platform exclusively for VR and AR content. Brand new and public beta stage. If you’re looking to really show off NFT ownership, doing it in an immersive space could be your jam.
Which marketplace is right for you? Why? Which ones support VR and/or AR content? Should you try more than one? Can you? What kind of NFTs sell best in which marketplace? All very valid questions. And we want to help you find answers. Because as exciting as the world of NFTs is at the moment, it’s new, wild, and volatile.
Navigating NFT Transactions
Testing the waters by starting a wallet, buying some currency, and purchasing your first NFT can be a great start. But if the list of marketplaces alone is intimidating, we’re here to say don’t get discouraged. We get it, this is really new. And to even some of the most tech-savvy entrepreneurs, it’s still confusing.
To either buy or sell NFTs, you need a cryptocurrency wallet, preferably containing Ether. At the moment, NFTs can only be bought and sold this way. So, yes you need to enter the world of cryptocurrency before you can move on to NFTs.
If starting as a buyer seems like a poor fit, maybe you’re thinking about creating an NFT instead.
Securely Minting VR/AR NFTs
We love underdog stories about the democratization of an industry or niche market. And we see the undeniable value of user-created content in some of the most popular online spaces.
Especially in the case of NFTs, if the capacity to examine and dissect blockchain code was required for every creator, the industry would stop short at far too small a group. Yes, you can use online tools to ‘mint’ your digital art, attaching a token to the asset.
Likewise, as we’ve watched VR and AR tools explode and bring the means of creation into the hands of just about anyone, it’s warmed our hearts. The look on a child’s face that knows they’ve just successfully created something virtual which can be shared with their peers – it’s pure delight.
However, using blockchain technology to encrypt a VR/AR creation is something else entirely. So, the question at the heart of the creation issue is, essentially, trust.
Will you want to work with a programming expert capable of dissecting and fully understanding both VR/AR creation AND blockchain code? Or are you comfortable rolling the dice with a third-party tool, hoping that your encryption is working properly?
Your Partner in Creating NFTs
At Stambol, we know the difference between a fad and a tipping point. Our collective experience as computer engineers, programmers, digital artists, and marketers positions us to help anyone and everyone who wants a backstage pass to any avenue of new technology.
Most importantly, our years of VR and AR experience – combined with growing expertise in the creation of NFTs – make us an ideal partner in this realm.
Don’t wait one more day to get in on the rising wave of NFTs. Now, tomorrow, and the day after – every moment sees growth in this industry and it’s a truly exciting time to dive in.
Reach out to our team to chat about what NFTs can mean to your business.
Feature Image Credit: Dmitry / Adobe Stock
