What Is An NFT?
What Is An NFT?
Smart Digital Payments and NFTs. So what's it all about?
WHAT IS AN NFT?
An NFT ( non fungible token ) is a special type of cryptographic token ( cryptocurrency ) that represents something unique, unlike other cryptocurrencies such as Bitcoin, Ethereum, etc., NFT's are not interchangeable. These would be considered fungible tokens. Fungibility means the ability of an asset to be interchanged with other individual goods or assets of the same type.
Some NFT's are used to represent in game assets and are controlled by the user instead of the game developer.
NFT's are a new way to invest and can be used in a variety of different applications such as art, crypto gaming, contracts, admission tickets, etc.. The whole point behind non fungible tokens is to create digital scarcity and verifiable ownership.
Today NFT's are being used in forms such as digital trading cards, virtual worlds, rare art, and our personal favorite and a current project we are rolling out, admission to digital products such as our course. You can create multiple NFT's that once purchased, gain you access to a passcode that enables entry into private membership sites that only someone with that specific NFT can access.
BLOCKCHAIN GAMES
When speaking about Blockchain games their are many names that come to mind, platforms that are revolutionizing the VR and NFT space such as MetaFest , The Sand Box, Superworld, Terra Virtua, Cryptovoxels, Decentraland, Gala Games The Uplift world and so much more.
For us, this is where it gets interesting.
On these platforms you can enter a virtual world where you can store, view and use the digital assets in your investment portfolio to show your friends or play in online blockchain games. These assets can be moved to other games and platforms because you are the owner.
An example of one of the blockchain games that utilizes digital NFT technology is Sorare.
SORARE
click the image to visit Sorare
Sorare is a fantasy football game, or if you're in America, "soccer" where players buy, sell, trade, and manage a virtual team with digital playing cards. The game uses Blockchain technology based on the Ethereum blockchain and was developed in 2018 by Nicholas Julia and Adrien Montfort. These cards are just one of many ways savvy investors can get a jump start on investing in NFT's.
The one pictured above belongs to Smart Digital Payments. It is part of the free pack they give you for signing up. The cards, ( just like any other NFT) range in value based on rarity and commonality. The value is also effected by the popularity of the player. The more you engage and play the game The higher your chances are to obtain rare cards. Just a fun way to grow your investment portfolio.
VIRTUAL LAND
Virtual land is one of our most promising investments in our portfolio in my opinion. When thinking about buying virtual land there are a few different aspects that stand out when it comes to ROI (return on investment). One being that in order to purchase these pieces of land on the block-chain one must first obtain Ethereum, Wax or whatever respective coin on whichever blockchain your land NFT is on.
Crypto is constantly raising in value and is projected to continue to do so over time. So the more land you purchase when the price is lower, the more it is worth when mass adoption occurs and crypto prices soar.
That doesn't even factor the profitability of the % of the commerce done on your plot of land! That's right, just like when you own land and rent it out to developers and billboards for advertisers etc. You will be able to lease the VR space on your plot of land to an endless amount of advertisers and be able to capitalize on the business that takes place within that space. Take Superworld for example.
SuperWorld is a virtual world where users can buy, sell, collect, and curate over 64 billion unique plots of virtual land.
The SuperWorld virtual real estate platform is mapped over the entire surface of the globe, allowing users to purchase —literally—any place on Earth. From skyscrapers and stadiums to historical monuments and iconic structures including wonders of the natural world, when you step into SuperWorld, you’ll truly make a world of your own.
When you purchase a plot of virtual real estate in SuperWorld, you’ll not only own a one-of-a-kind digital asset, you’ll also become a stakeholder on their platform and share in revenue created on your virtual land from user activity, including:
In-game purchases,
transactions,
advertising,
E-commerce,
digital commerce,
and gaming.
Grand View Research , when referring to the question " How fast is VR growing?" responded in an article:
The global virtual reality market size was valued at USD 10.32 billion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 21.6% from 2020 to 2027.
The expected growth of Blockchain global market size is projected to grow from 3.0 billion to 39 billion $USD from 2020 to 2025.
All of these things combined makes land in Superworld a great option as a high risk high reward long term investment for Smart Digital Payments. The chance to get in on the ground floor of a global platform of this magnitude is a great opportunity.
watch a video explainer below
VISIT SUPERWORLD AND TELL THEM WE SENT YOU. RECEIVE A FREE PARCEL (WITH YOUR FIRST PURCHASE).
Another way to utilize the NFT technology is through decentralized web domains.
UNSTOPPABLE DOMAINS
We are proud owners of a decentralized "unstoppable domain" that goes by the name of smartdigitalpayments.crypto
Unstoppable domains isn't like your everyday run of the mill web domain. Unstoppable domains is a decentralized web domain built on the blockchain. according to businesswire.com Unstoppable Domains is a San Francisco-based company building domains on blockchains.
The company is backed by Draper Associates and Boost VC and has received grants from the Ethereum Foundation and the Zilliqa Foundation.
This domain allows the user to embed their cryptocurrency digital wallets to the domain name so people who want to send you money can just send it to, in our case, smartdigitalpayments.crypto and whatever currency they send goes into the respective account. No more routing numbers or account numbers. No more copy pasting private keys.
One of the great attributes of the unstoppable domains is their decentralized, encrypted chat rooms. Come find us. Get your unstoppable domains here at Unstoppable Domains
Gala Games is working to decentralize the billions of dollars spent annually on video game advertising by finding ways to get it into the hands of the people who deserve it most - the gamers. One of the many games in gala ecosystem is Town Star.
From one of the founders of Zynga and some of the creative minds behind FarmVille and Words With Friends comes Town Star, a game for the Gala blockchain. Blockchain is the next evolution of gaming and has the $148B industry buzzing with excitement. It’s gaming re-imagined to benefit creators and players, alike. Another game in the Gala Games ecosystem is this amazing new MMORPG called Mirandus.
Mirandus is an epic fantasy RPG set in a massive world ruled by five player-monarchs. In game, players have absolute freedom of choice: They can set out into the wilderness alone to try their fortunes against the monsters of the deep woods and dungeons, join with one of the monarchs to serve as a knight in their court, or set up shop in one of the five great cities of the realm.
Player ownership of in-game assets is a central mechanic, with players being able to hold land deeds which allow them to claim parts of the wilderness and set up holdfasts ranging from small farms to massive cities. In Mirandus, you decide who you will be and choose your own quest in the epic fight against evil.
Just imagine if you will, playing a game, and earning an income in real life. Well Gala is a real currency.
About Gala Coin:
Gala price today 3/18/2021 is $0.02567926 with a 24-hour trading volume of $990,634. GALA price is down -2.5% in the last 24 hours. It has a circulating supply of 7.5 Billion GALA coins and a max supply of 32.2 Billion. Bitrue is the current most active market trading it. Check out Gala price live at Coin Gecko
GALA is designed to power the Gala Games ecosystem to support gaming re-imagined to benefit creators and players, alike.
The best way to earn GALA, is to help grow the Gala Games Ecosystem by running a node or inviting your friends to come and play Gala Games. For doing this, you will receive points in the Daily Galapalooza, which can mean GALA, unique NFTs, and tons of other cool things.
Gala Game Nodes help to secure the Gala Games network. As a node operator, you will receive points in "Daily Distribution," which are items and GALA which have been added to your treasure chest and are awaiting minting. This is one of the best ways to support the Gala Games project!
How do I get a node?
To get a node, all you need to do is create an account, move GALA, ETH, or BAT to your account, and then use the in-app interface to complete the purchase!
After setting up your account and purchasing your node, if you have any troubles setting it up here is a link to a helpful video on how to properly set up your node to a VPS ( virtual processing server).
METAJAX
Limited Edition Digital Collectibles that Support our Artists and Shows
MetaJAX is on a mission to protect and promote the finest performers, songwriters, composers, and instrumentalists around the globe by producing and broadcasting their high value music and content to the world with empowering technology.
MetaJAX is uniquely positioned to offer rare, high-value music performances by exceptional artists and musicians presented and preserved in very special and exclusive ways.
MetaJAX counts it a sobering blessing, that in the midst of these challenging global times, the company has strategically and tirelessly worked to build and grow a full-service creative space where world-class artists and performers in the Jazz, Roots, and Singer/Songwriter genres deliver high-value products to the audiences that love them. This disruptive effort combined with breakthrough technology has positioned the company to return optimal value and revenues to the artists and performers and even share that value with the audiences and fans that love and invest in them.
To accomplish its mission, MetaJAX has created the ultimate next generation broadcast company where everything that you see and hear you can earn and own as unique Digital Collectibles.
These Digital Collectibles are build on the technology framework known as Non-Fungible Tokens (NFTs)
A MetaJAX NFT Broadcast called JAXblast features a 90-minute live performance by exceptional world-class artists and musicians.
The IRL (In Real Life) location is Campus JAX, a speakeasy supper club in Newport Beach, CA that has been live-streaming its performance events for 4 years and has accelerated this effort to over 120 shows since March 20, 2020 at the onset of the COVID-19 pandemic.
A live, in-person audience comprised of 70 guests enjoys the incredible music performance while seated at cocktail and dinner tables enjoying great California-Cajun style food and mixed drinks from the Long Bar. During the Covid Pandemic Era, artists perform outside the restaurant venue in the 100ft x 30ft open-air event tent on the 16x20 foot stage with pro audio support of QSC.
The team's 120+ live-streams this past year have reached over 1 Million Viewers on Facebook and Youtube, thus multiplying the in-person audience at least 1000x. The broadcasts have received critical acclaim from artists, musicians, and fans alike as the world's best sounding mix of an episodic livestream. Over 100 predominantly jazz artists have performed representing over 100 Grammy Awards collectively.
These live performance events are one-of-a-kind unforgettable experiences that become scarce and collectible live recordings bundled with commissioned fine digital art as NFTs offered to fans through free air drops, one time sales events, and high value auctions.
We had a great time learning how that will play out during the Cryptojazz-festival at Campus Jax July 9-11 2021
Where we combined IRL with the Metaverse with a global audience including some famous names in the NFT space Kenn Bosak, Miss Teen Crypto, Miggy Crypto,
as well as legendary NFT artists such as Nanu Berks, Empress Trash, Space Painter and more.
The first CryptoJazz Festival ever and has one amazing added feature:
The incredible team at WhaleStreet, led by NFT DeFi dev pioneer Vii Sundaram, will be introducing the JAX community rewards token which can be earned by staking MetaJAX NFTs on the WhaleStreet.xyz platform powered by Polygon's L2 layer. Not only will those who stake their NFT's be rewarded, but the artists featured in the NFT will be rewarded also!
THE VIRTUAL EVENT Experience:
The MetaJAX LIVE EVENT called JAXblast moves the broadcast from the web 2.0 screens of YouTube and Facebook into the decentralized virtual world on the screens of the Metaverse via the MetaJAX NFT Broadcast Network. IRL collides with the VR/AR world. Eventually, The MetaJAX virtual world will feature best-in-class audio at 96khz (DSD on Roadmap) and visual spaces designed by a team of top Hollywood 3D designers and animators.
This is where the event explodes with a whole new kind of engagement including patent-pending avatars, capable of interacting with each other and the music as well as transacting for all kinds of in-world NFT opportunities. These avatars are developed with Metaverse portability in mind, capable of transporting between decentralized virtual worlds while taking your NFT wallet and a taste of DeFi wherever you go. This interaction will bring meaningful value in-world and beyond to the JAX Community Token (launch TBD), a reward and governance token with artists and the fans who love them in mind. A Land Sale in this virtual world is projected for Q4 2021.
Learn more about cryptocurrency investing, traditional investing, the difference between the two and the risks and rewards of investing, in our Crypto College course
#sorare #metaverse #blockchain #defi #crypto #smardigitalpayments