The recent MTV Video Music Awards were held in New Jersey and that’s when many of us caught a glimpse of superstars like Snoop Dogg and Eminem popping up with Bored Ape Avatars.
This performance was within the realms of the ‘Otherside’ project by the Metaverse. And that brought plenty of questions to our minds related to the trend of NFTs resurging. Could people’s interest possibly be sparked further in this regard?
Well, it would certainly take a huge push. Remember, the NFTs haven’t been doing too well recently, with markets crashing to new lows. But we feel that the recent performance could be just what it needed to gain that spark factor again.
In both ways, we’re seeing Meta prepare for the NFT engagement by expanding its tools to platforms like Facebook, in addition to the usual ones seen on Instagram.
An updated blog post by the company’s Newsroom highlighted how Meta is introducing the chance to put up digital collectibles across its apps. Therefore, users are given the chance to link their digital wallets to a particular app so their NFTs can be shared across both.
We first saw the company launch the NFT display back in May on Instagram. The following month, Meta expanded via a test launch to a few users across Facebook. Now, the company says they’re on the move to enable all users to display NFTs across every app.
We do feel it’s a little behind schedule as the trends for NFTs are currently low. But could this be a resurgence for the NFT trend and Meta might be making history again?
If we look at the stats aspect of things, well, the overall interest for NFTs has really been at an all-time low. Think along the lines of the market going down by 92% as compared to the peak seen in 2021.
So many investors have lost millions through ongoing scams and crypto markets crashing. Therefore, the popularity of such cartoonish images in the form of avatars was seen waning as well. Many find it hard to re-sell them or even find a good enough use, other than a simple profile picture.
But with that, there is a use, as was displayed by Eminem and Snoop Dogg recently through the Yuga Labs. Here, the founders of the Bored Ape Yacht Club created their own metaverse aura which is dubbed, ‘the Otherside’.
Here, characters will turn into 3D depictions that could be utilized to help more people interact in the ongoing experience. But it all depends if users actually want that. Do we really wish to be represented in the form of Bored Ape Avatars in the virtual world?
As of now, there’s already plenty of confusion surrounding what the metaverse will be about. There is no definite meaning related to how users wish to present themselves. But what we do know is that expensive and exclusive NFTs would do the trick.
They will hold that prestige within such interactive realms. Also, if the Otherside turned into a real metaverse space where users could best use their characters in the virtual world to take part in different ways, then the value is great for such Bored Ape Characters.
As of now, there is no progress on this and the misconceptions are plenty. A lot of us are viewing the metaverse as a platform where 3D and virtual reality rule the day. Here, users from all walks of life will come forward and create their own worlds and sections.
Everything would be interlinked and you may use the Bored Ape to represent yourself for work meetings or even while playing games. In that sense, such digital characters would make sense.
Read next: AI facial recognition systems start to have a lot of trouble after a person ages more than 5 years, Study reveals
This performance was within the realms of the ‘Otherside’ project by the Metaverse. And that brought plenty of questions to our minds related to the trend of NFTs resurging. Could people’s interest possibly be sparked further in this regard?
Well, it would certainly take a huge push. Remember, the NFTs haven’t been doing too well recently, with markets crashing to new lows. But we feel that the recent performance could be just what it needed to gain that spark factor again.
In both ways, we’re seeing Meta prepare for the NFT engagement by expanding its tools to platforms like Facebook, in addition to the usual ones seen on Instagram.
An updated blog post by the company’s Newsroom highlighted how Meta is introducing the chance to put up digital collectibles across its apps. Therefore, users are given the chance to link their digital wallets to a particular app so their NFTs can be shared across both.
We first saw the company launch the NFT display back in May on Instagram. The following month, Meta expanded via a test launch to a few users across Facebook. Now, the company says they’re on the move to enable all users to display NFTs across every app.
We do feel it’s a little behind schedule as the trends for NFTs are currently low. But could this be a resurgence for the NFT trend and Meta might be making history again?
If we look at the stats aspect of things, well, the overall interest for NFTs has really been at an all-time low. Think along the lines of the market going down by 92% as compared to the peak seen in 2021.
So many investors have lost millions through ongoing scams and crypto markets crashing. Therefore, the popularity of such cartoonish images in the form of avatars was seen waning as well. Many find it hard to re-sell them or even find a good enough use, other than a simple profile picture.
But with that, there is a use, as was displayed by Eminem and Snoop Dogg recently through the Yuga Labs. Here, the founders of the Bored Ape Yacht Club created their own metaverse aura which is dubbed, ‘the Otherside’.
Here, characters will turn into 3D depictions that could be utilized to help more people interact in the ongoing experience. But it all depends if users actually want that. Do we really wish to be represented in the form of Bored Ape Avatars in the virtual world?
As of now, there’s already plenty of confusion surrounding what the metaverse will be about. There is no definite meaning related to how users wish to present themselves. But what we do know is that expensive and exclusive NFTs would do the trick.
They will hold that prestige within such interactive realms. Also, if the Otherside turned into a real metaverse space where users could best use their characters in the virtual world to take part in different ways, then the value is great for such Bored Ape Characters.
As of now, there is no progress on this and the misconceptions are plenty. A lot of us are viewing the metaverse as a platform where 3D and virtual reality rule the day. Here, users from all walks of life will come forward and create their own worlds and sections.
Everything would be interlinked and you may use the Bored Ape to represent yourself for work meetings or even while playing games. In that sense, such digital characters would make sense.
Read next: AI facial recognition systems start to have a lot of trouble after a person ages more than 5 years, Study reveals
