NFTs on web3 are inevitable as the popular new platform of the internet that seems like a myth, for now, is from allegedly decentralized codes. NFTs and cryptocurrency are known for being "decentralized," This does not shy away from the fact that people envision the internet's successor now.
However, the real question is that "What will make people shift to web3?"
NFT on web3: What are the Reasons for the Platform Shift?
(Photo : Pexels)
Music
One of the top proponents for NFTs now is music, and a lot of artists opted to sell their works as non-fungible tokens on different platforms. An example would be Canadian R&B singer and rapper, The Weeknd, with his song called "The Source," sold for $490,000.
A lot of people follow the music and are fans of NFTs, and having an entire song in the form of an NFT from one's favorite artist is a dream come true. The exclusive content remains for one person only, and web3 will help secure that content for a person.
Other artists are also pushing their work as NFTs now, with the popular craze already apparent among the elite and those in the entertainment industry.
Different first-hand sources trend as NFTs in the market, and they sell like hotcakes for hundred-thousand dollars.
Read Also: Gaming NFTs Backlash: Why Are Core Gamers Rejecting Them Outright?
Social Media Platforms
Once social media platforms transition to the web3, the world will be more accepting of it and the decentralized culture and NFTs. Without a doubt, NFTs and other blockchain-based entities are still vulnerable in web2, and this is because it was not made for the said platform.
Different social media now accept NFTs, tokens, cryptocurrencies, and other decentralized platforms as partners or run within their landscapes.
Former Twitter CEO and founder, Jack Dorsey, supports the web3 platform for the future but has a brief warning about it.
Metaverse and the Digital World
The metaverse established itself on web2, but that does not mean that it could not change into the web3 once it is available. The many metaverse platforms and proprietors now only show that people are into the digital world, which means the digital tokens.
Initial NFT platforms and developers ventured into the metaverse and created their presence there. In the digital world, they are already earning hundreds of thousands of dollars for the digital reality that is present now.
Web3 featuring the metaverse would greatly empower the next version of the internet, as the public calls it. The metaverse remains as one of the places where decentralized entities can thrive, from NFTs to blockchain and cryptocurrency.
However, that means that it is another code to develop as web3 is either underworks or non-existent as of now.
Related Article: DAO Aims to Purchase Blockbuster to Put on Web3 and Turn Into a Decentralized Film Streaming Service
This article is owned by Tech Times
Written by Isaiah Richard
