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Guide to Understanding Web 3.0: NFTs in the Metaverse

Understanding Web 3.0: Your Guide to NFTs and Guide to the Metaverse What is an NFT? A non-fungible token (NFT) is a unique digital asset. NFTs are not interchangeable, and each one is unique. NFTs can be used to represent items such as digital art, collectibles, and in-game items. What is the metaverse? The metaverse is a term used to describe the virtual world in which people can interact with each other and with digital objects in a realistic way. the metaverse is a natural extension of web 3.0, which is the next stage of the internet. Web 3.0 is often described as a more user-friendly and interactive internet, where users can easily connect and share information. What is Web 3.0? In the vein of Web 2.0, Web 3.0 refers to the next generation of the internet. It is expected to be more interactive, intelligent, and user-friendly than Web 2.0. Some of the technologies that are often associated with Web 3.0 include artificial intelligence, virtual reality, and blockchain. How are NFTs used in the Metaverse? Since Web 3.0 is still in its infancy the relationship between the metaverse and NFTs is still be explored and in many ways, created. NFTs could be used to create and represent virtual assets in the metaverse, or they could be used to create unique, one-of-a-kind experiences that can be shared and experienced by people in the metaverse. A major difference between early metaverses and the web 3.0 metaverse will be the widespread presence of virtual currencies, digital tokens, and NFTs. How to create an NFT? There are a few different ways to create an NFT, but the easiest way is to use a service like Decentraland. These platforms allow you to create and manage your own digital assets, and they also provide a marketplace where you can buy and sell NFTs. The general steps that go into the creation of an NFT will differ as platforms evolve but usually: The artist creates a digital or physical piece of art The artist submits the artwork to a minting service or platform. The minting service or platform verifies the authenticity of the artwork. The minting service or platform mints the artwork into an NFT. The NFT is stored on a blockchain and can be bought, sold, or traded like any other cryptocurrency. How to buy NFTs? NFTs can be bought in a variety of ways, including online marketplaces, online auctions, and directly from the creators themselves. Some of the most popular NFT marketplaces include OpenSea, Rarible, and SuperRare. To buy an NFT, you will need to create an account on one of these marketplaces and deposit cryptocurrency into your account or contact a creator directly to exchange crypto wallet addresses. How to sell an NFT? The process to sell and NFT is similar to the buying process. Generally the most common way to sell an NFT is through an online marketplace. There are a number of online platforms that allow you to list and sell your NFTs, and the most popular ones include OpenSea, Rarible, and SuperRare. When listing your NFT for sale, you will need to set a price and provide a description. It is also a good idea to include a link to the digital file so potential buyers can preview it.   Best NFT marketplace? While there are many to choose from, as of 2022 OpenSea is the largest and most popular NFT marketplace with over 2 million users. It has a wide range of NFTs available for sale, including art, collectibles, and gaming items. OpenSea also has a built-in wallet so you can store your NFTs in one place. How to buy land in the metaverse? The best way to buy land in the metaverse will vary depending on the specific virtual world you are interested in. However, generally when buying metaverse land you should do your research and make sure you understand the virtual world you are interested in and the process for buying property within that world. Also remember never to spend more than you can afford on metaverse land. Should you invest in the metaverse? Some people believe that the metaverse will be a powerful and influential force in the future, while others believe that it is nothing more than a fad. Ultimately, it is up to the individual to decide whether or not to invest in the metaverse. However, it is worth remembering that there is singular metaverse, so while the concept may gain more widespread adoption your favorite metaverse could fail and stop existing. How to make money with NFT? There are a few ways to make money with NFTs. The most common is to create and sell them. You can also earn royalties from selling NFTs, or from having your NFTs used in games or other applications. Finally, you can earn interest on your NFTs by holding them in a wallet that supports NFTs.

The Harlem Shake: Why Is This a Thing?

Oh Internet, you never cease to amaze me. Just when I feel like we get each other, you come out with something so inherently ridiculous, I can only shake my head, smile and say, "you do you, Internet; you do you." The latest craze in a long line of plankings, lip dubs, Call Me Maybes, horse heads, and Gangnam Styles (if you want more of these, check out our posts on ROFLcon) is The Harlem Shake.  The TLDR overview of this new trend goes like this: Normal situation turns into a weird rave-y dance party with this song playing in the background. But I'm not here to talk about "what" it is. I'd rather discuss "why" it is. Why is some video that started in a dorm room inspiring everyone from frat bros to marketing agencies (see below) to go nuts for, quite literally, 15 seconds of Internet fame? The question may be as simple as "there was a huge blizzard in the Northeast this weekend and a ton of people were bored." However, my guess is that it has something to do with this statement: Never underestimate the human need to be a part of the cultural Zeitgeist. Seriously, we even did one. In our study, "The Psychology of Social" (click here to download), we express that social media placates certain inherent human needs to fit in and have a role within the larger group. In 10,000 BC, each member of a group of prehistoric humans had a role - be it hunter, gatherer, or mammoth stylist (those were things, right?). While human roles and needs have changed slightly over the past few thousand years,  the group mentality remains. We are, and always have been, a species built on sharing, connection-development, and esteem building. While we no longer have the need for mammoth stylists (I swear those existed), with our Internet/information-driven society, being the one in your group of friends to find these things, create them, or share them allows you to fulfill your role in the larger group. So, why did THIS catch on? It probably has something to do with the group that the creators of the original video has around them. Things spread more easily when the content gets into the hands of influencers. Mix that with the fact that that there is almost no barrier to participate (a camera phone, a song download, a laptop, some friends) add a little absurdity and a lot of fun, and you've got yourself a engagement-driving concoction of excellence.

This Week's Buzz within the Digital Space (May 3rd-7th)

The iNews As usual, Apple was a dominant source of news this week. The company announced that they had reached and surpassed their 1M iPads sold milestone'all within a month of their product launch. Now the question, since all the early adopters have adopted, who will be buying their product next month? Apple also released more information about their anticipated iAd platform, a service which will allow brands to engage their consumers on Apple products while also surrendering their creative over to Apple designers. The company reported an entry fee of at least $1M for advertisers who want to be involved when the new platform roles out.  Marketers must weigh the hefty price tag against the positive PR that will surround being an innovative company who advertises on the new technology. Furthermore, these iAds will be built to support HTML5, and so, the Adobe versus Apple saga continues.  Since Steve Jobs' letter last week which sought to explain the company's many reasons for not supporting Adobe Flash on their products, the media has been buzzing about the transition from the Flash platform to more 'open'? alternatives. Online Privacy Outside Cupertino, there's other buzz to be heard. There was much discussion this week on legislation that could significantly impact marketers' use of consumer data online. As the Internet continues to make privacy scarce, lawmakers are attempting to secure users' identifying information'including their IP numbers which facilitate behavioral targeting. This could have implications on how marketers' deliver personalized advertisements. ROFLcon II And digital happenings IRL! The Internet gathered in person last week at MIT for two action-packed days of panels, lectures and keynotes on the ever evolving role of Internet memes and the larger influence of Interent culture in today's world. And of course, there was a little time for chatroulette bingo. What did we learn from two days of rolling-on-the-floor laughing? Internet culture, however loosely defined, is becoming an increasingly powerful influence on the mainstream. Is that a good thing or a bad thing? Debate among yourselves within the comments section below, or within the comments on the next cat youtube video that goes viral.

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