NFTs: The Ultimate MetaVerse Utility

MetaVerse and NFT… currently two of the most buzz worthy words/phrases in the crypto space. Over the past year, NFTs have gained a massive amount of attention all over the tech/entertainment industry by showing people that a picture can be more than just something nice to look at.

With many NFT projects realizing that having a purpose behind their NFTs can boost interest in the project exponentially, many now offer special perks and memberships to exclusive clubs. Although perks and exclusive clubs are an awesome benefit to owning some of these NFTs, many people seek something that has a true usage within the Metaverse/crypto gaming community, and this is where Velhalla is looking to change things up a bit.

ScarQuest Official Discord Channel

Follow ScarQuest on our official Discord channel to stay up to date on our upcoming contests, giveaways, and more!

JOIN NOW

First off…The MetaVerse: What is it and what does it have to do with Velhalla?

Ask any holder or investor in the crypto, DeFi, GameFi, or tech world what the MetaVerse is, and you will end up with a multitude of different answers based on who is answering the question. In the tech world, the MetaVerse is considered to be a centralized cyberspace where tech companies can “move forward into the future of social connectivity and online interaction”, which can and may have it’s advantages in certain applications for companies that wish to integrate a part of the crypto world into things like social media platforms.

In the GameFi and DeFi world, the MetaVerse is where virtual reality, augmented reality, and game space come together and allow people all over the world to interact online in a decentralized blockchain based space. This is where Velhalla comes in: a fully immersive NFT based MetaVerse where gamers, token holders, and interested people from around the world will be able to take part in the next level of gaming.

With the MetaVerse being such a huge space, how secure is it?

The blockchain technology behind the purchase and sale of an NFT allows those that are part of a transaction to view any and all previous owners and buyers of that specific NFT. Not only is this a valuable asset in the metaverse realm by creating a better and more secure way to complete online transactions, but it also allows those involved to maintain control within the blockchain without having to worry about outside interference from a centralized source. This can mean smaller transaction fees for online purchases and instantaneous proprietary ownership of any assets/NFTs that someone may purchase within the metaverse.

NFTs and the MetaVerse…how do they fit together?

The possibilities of NFT utility within the MetaVerse are potentially limitless within the online gaming world.

Many would question the reasoning behind handing over a large chunk of money for a digital picture, but, what if that digital picture is part of a major gaming MetaVerse that utilizes NFTs to help you advance through the game and earn rewards that can be redeemed for tokens or even potentially become a source of income?

In the Velhalla MetaVerse, NFTs will be used as a center piece of our ecosystem including our comic book NFTs that can be collected and combined for rewards, character NFTs, and digital real estate. Many GameFi platforms that have been released have created in-game marketplaces where their NFTs can only be traded within their own marketplace, but with Velhalla, anyone who has a decentralized wallet like MetaMask can openly trade the NFTs that they have purchased. By designing our entire ecosystem to be closely integrated with NFTs, we are taking the next step towards a higher level of NFT utilization within the MetaVerse.

The possibilities of NFT utility within the MetaVerse are limitless in the online gaming world. NFTs have become the next major step in the evolution of online gaming which puts Velhalla in a perfect place to become a main hub for NFTs and the MetaVerse to converge. With a foundation built on utilizing NFTs to their full gaming potential, ScarQuest NFT gameplay integration has the potential to reshape NFT utility within the GameFi space.