Crypto is synonymous with innovation.
The rapid pace of development in the last few months only creates even more exciting opportunities for the end-user.
While technology companies in Web 2 and 3 might be taking the wheel, the bottom-up approach of the blockchain means end users are the actual beneficiaries.
The Inevitable Evolution
In what observers have said will revolutionize the internet, the metaverse is proving to be a game-changer. For what there is, the metaverse moves away from the internet and digital space as we know. This expansion and “more realism” lead to more interaction, potentially disrupting how people interact, do business, or even how the digital economy would operate.
The realization of the metaverse dream could easily translate to a $1 trillion market where participating firms with considerable market share would easily outcompete web2 companies whose combined worth is estimated at $15 trillion.
Anticipating the evolution and perhaps positioning themselves strategically, projects are already sinking billions and even more in the next few months. Already, Facebook is one of the most prominent to declare their intent of immersing themselves in the metaverse.
Others like Epic Games are already investing in the technology. These tech giants’ strategic decision to pivot the metaverse may only serve to attract other firms, raising the space’s valuation.
Metaverse and Virtual Gaming to Cross the $400 Billion Mark by 2025
According to a Grayscale Investment report, metaverse users are up approximately 10X to over 50k from early 2020. At the same time, more continues to be spent on virtual items valuable in the various meta spaces.
As per the report, users have spent over $200 million on virtual items, and the number would only expand in the months to come.
In their estimation, revenue from “virtual gaming worlds” could grow to $400 billion by 2025.
Therefore, although it is clear that we are still in the very early stages, the pace of this expansion and the interest from heavyweights mean the metaverse, as rightly predicted, stands to be a major force in the years to come.
NFTime: The NFT social media on Ethereum
NFTime is setting its sight on the metaverse. It is a space where users can discover the benefits of NFTs doubly existing as a social media space relying on the activity-dense Ethereum platform.
A distinguishing feature of the NFTime is its decentralization, allowing users to mint and sell their NFTs, earn, interact—thereby making new friends–, chat, share, and create NFTs with friends.
Within NFTime are several categories created to meet the divergent needs of its global users. For example, there is the Arts section for creatives, the Music category for fine-tune lovers, and even the Sports section.
Then there is the gaming section, a category for nature lovers, and a charity section for users seeking to make contributions.
How it Works
Using NFTime is simple. Being non-custodial and reliant on the public blockchain, all a user needs to do is connect their wallet.
The platform already supports various browser wallets like MetaMask, TrustWallet, Binance Chain Wallet, and more.
Afterward, the user can create their collections. To set up a collection, users need to input their social media links, add a description, including a profile, and cap it up with banner images.
Setting up a collection paves the way for one to mint a custom NFT before listing it on the marketplace.
NFTime NFTs can be sold through an auction or a fixed-price listing.
An important distinction is that NFTime won’t charge any fees on its platform. Instead, all a user only pays Gas fees.