Technology

Why are major global brands experimenting with NFTs in the Metaverse?

Blockchain is a core technology that differentiates itself from other technologies by having solved the double expense with the emergence of the Bitcoin blockchain in 2008. Nonfungible tokens, or NFTs, were driven by blockchain technology which brought scarcity and interoperability to nonfungible tokens. But, what do blockchain technology and NFTs have to do with Metaverse? Why are large companies experimenting with NFTs in Metaverse? The term “metaverse” first appeared in 1992 when Neal Stephenson released his science fiction novel Snow Crash. In this book, humans interact with each other and with software agents such as avatars in a three-dimensional space that acts as a metaphor for the real world.

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OODA Analyst

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