The Value Chain of the Open Metaverse

An NFT serves as a digital certificate of authenticity, backed by math, on a public ledger, that incontrovertibly proves that the holder owns a one-of-a-kind digital (and sometimes physical) asset.

If done correctly, the Metaverse becomes more than the escape from a bleak reality that it is in Ready Player One, but a new way to earn a middle class income while pursuing your passions with ever-growing and more profitable niches of your people, around the globe.

As more of our lives move online, the ability to own scarce digital items is only becoming more important, and the NFT-based digital asset market will increasingly mirror the luxury market. An authentic Birkin bag is able to fetch prices hundreds of times higher than the exact same bag in knock-off form because owning the real thing says something ... See more

All told, the value of NFTs increased massively at the end of 2020. When OpenSea released its Non-Fungible Token Bible in January 2020, average monthly NFT volume was $2-3 million. By December, dapp tracked $10.15 million worth of sales over the previous 30 days. It’s still a small market, but it’s growing fast, and the technology has huge implicat... See more

The main takeaways from NBA Top Shot transcend the highlight numbers. What’s most interesting to me is that it’s a prime example of an NFT-based platform partnering with a mainstream organization and bringing NFTs to the masses. To do that, they’ve abstracted away the crypto -- they don’t mention “NFTs” or “crypto” on the homepage -- and instead fo... See more

According to Dixon, “Cryptonetworks combine the best features of the first two internet eras: community-governed, decentralized networks with capabilities that will eventually exceed those of the most advanced centralized services.”