Značka: Web 3.0

Scan your dog and go walkies in the Metaverse: Virtual NFT pets get popular

New research suggests that during the height of COVID-19, the number of people searching for a furry friend to keep them company hit new highs – not only physically but also in the Metaverse. The question is, are tokenized pets here to stay, or are they a pandemic fad?The Metaverse is widely regarded as the next iteration of the internet as a virtual world or web 3.0, facilitated by virtual and augmented reality. There are a number of ways to purchase or adopt a pet in the Metaverse, and they each have varying utilities. In the virtual open-world platform Decentraland, you can purchase a puppy and take it for a walk, or buy a fish and display it in a bowl on your dresser. Another way to get a pet in the Metaverse is by simply buying an NFT image on a marketplace like OpenSea. What these examples have in common is that they both exist solely in the digital world. If you purchase an Axie on Axie Infinity, it doesn’t exist in the physical world too.However, there are also projects gaining popularity that aim to blend the digital and physical world. For example, Classic Doge, which was created in Nov 2021, allows you to scan and tokenize a 3D rendering of your pet in the real world and bring them along into the Metaverse with you. Your real pet made into a 3D NFT Avatar.Bridging the real world with the virtual.#classicdoge #furever #xdoge #petaverse #VirtualReality #metaverse pic.twitter.com/oq86cRG9uB— ClassicDoge (XDOGE) Official (@TheClassicDoge) January 1, 2022Head of Growth and Partnerships at Classic Doge Saylor Howell told Cointelegraph that although the pandemic may have provided an igniting moment for pet NFTs, they were an inevitable development of the Metaverse. “If you look at the facts, the world is changing. And I think that it’s shaping up as a very good opportunity in the metaverse to start virtualizing the things that we love.”Although the project is still in its infancy, Marketing Director Kade Cooper told Cointelegraph that the team’s long-term vision is to “become a gateway for bringing your real pet into the metaverse. Down the road, you could walk your dog again, have her sit down next to you even though she’s passed away,” he said. Voice activated AR pets. Yea RoboDoge is coming soon. This 3d dog can be in your living room and listens to your commands. Sit, jump, roll over, play dead, etc. pic.twitter.com/7sUyoJ1h7D— FuegoNFT.ΞTH (@FuegoApps) January 10, 2022

Web traffic data referencing “pets” or keywords relating to dogs and cats on the NFT marketplace OpenSea peaked at over 636,000 in October 2021, according to data from intelligence firm SimilarWeb. By December, however, this number had dropped to 246,000. The trend was consistent with web searches for NFT pets and related keywords. Similarly, searches peaked at about 206,000 during October before dropping to about 93,800 searches in December.Related: Dog-themed coin and cool new avatars showcase true potential of the metaverseThe idea of NFT pets has also been generating interest among some experts in the NFT space, such as NFT blogger and Youtuber Matty DCL.Digital pets will 100% be a thing.— Matty (@DCLBlogger) January 10, 2022

The idea of owning a virtual pet is far from new, even if it has never been so realistic. The idea of having a digital pet was popularized in the late ‘90s and early ‘00s, with Tamagotchi. In fact, Tamagotchi’s website attracted over 125,000 visits in Dec 2021, representing an increase of almost 750% from Dec 2019.

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'You don't own Web 3.0,' says Jack Dorsey, criticizing its centralized nature

In a series of tweets posted on Tuesday, Jack Dorsey, the co-founder and former CEO of Twitter, as well as the founder and CEO of Square (now Block), voiced his criticism over the direction of Web 3.0 development. Elon Musk, the CEO of Tesla, joined Dorsey in the mockery. On an unrelated note, the same day, Dorsey replied, “Bitcoin will” when asked if crypto will replace the dollar.Within context, Web 3.0 is a decentralized version of the virtual world that will in part feature public blockchains, metaverse technology, nonfungible tokens and decentralized finance free from the grasp of centralized power sources, such as corporate servers. You don’t own “web3.”The VCs and their LPs do. It will never escape their incentives. It’s ultimately a centralized entity with a different label. Know what you’re getting into…— jack⚡️ (@jack) December 21, 2021However, Dorsey took aim at the fact that venture capital firms, or VCs, and limited partnerships, also known as LPs, frequently fund Web 3.0 projects in direct competition with decentralized alternatives such as initial coin offerings. By owning a controlling stake, VCs and LPs can then pressure blockchain co-founders to comply with centralized regulations despite their conflict with core crypto philosophy, such as collecting know-your-customer data.Although he didn’t have much to add, Elon Musk commented that Web 3.0 projects haven’t really lived up to their name.Has anyone seen web3? I can’t find it.— Elon Musk (@elonmusk) December 21, 2021

Related: Indian state government to accredit Web 2.0 and Web 3.0 blockchain startupsAccording to a report by PitchBook, fintech firms received $88.3 billion in aggregate funding from venture capital through the first three quarters of 2021, almost double the 2020 total of $44.9 billion. The report also highlighted the growing mainstream acceptance of cryptocurrencies as one potential growth driver, especially as more institutions look to access digital assets.As for Dorsey, the former Twitter CEO appears to be much more vocal about his intent to contribute to the Bitcoin (BTC) economy since stepping down from the social media company in November. As Cointelegraph previously reported, Dorsey plans on building a decentralized exchange for Bitcoin that will make it easier to fund a non-custodial wallet. 

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Reddit co-founder and Polygon launch $200M Web 3.0 social media initiative

On Friday, Polygon and Alexis Ohanian’s venture capital firm, Seven Seven Six, announced a $200 million initiative backing projects operating at the intersection of social media and Web 3.0. The initiative will focus on gaming applications and social media platforms built on Polygon’s infrastructure. Ohanian co-founded Reddit in 2005, left in 2010 and returned as executive chairman in 2014 to lead a turnaround before resigning in 2020. He has been a seed investor in several prominent tech and blockchain firms such as Coinbase, Instacart, Sky Mavis — the developer of Axie Infinity — and Patreon.As an Ethereum scaling solution, Polygon’s ecosystem has expanded rapidly this year, with over 3,000 decentralized applications built on its network. Earlier this month, Polygon announced it was dedicating up to 250 million MATIC tokens, valued at $627.5 million at the time, to develop zero-knowledge technologies intended for complex decentralized finance applications. Protocol launches and cross-chain migrations have been the biggest drivers of its token price growth for much of this year.Related: Polygon launches a zk-STARK scaling solution for DApp deploymentPolygon co-founder Sandeep Nailwal described social media business models as having a “profound impact on our world,” especially in light of Web 3.0, which is a broad concept that refers to the next generation of the internet. Through Web 3.0, “Users create the value, control the network and reap the rewards,” he said.The Polygon partnership isn’t Ohanian’s first foray into Web 3.0 development. As Cointelegraph reported, the Reddit co-founder teamed up with Solana Ventures in November to raise $100 million for various Web 3.0 initiatives.

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