Creating an avatar in the metaverse and living a “second life” may be reminiscent to some people of the popular mid 2000s game Second Life. People could get married and have families and even work for real fiat money.
One Single Life user, an avatar known as Anshe Chung made more than $1 million both virtual and actual as an in-game landlord. She became the game's first millionaire.
The ideology of the metaverse is turning out to be no different. People will be able to make avatars and buy homes and work jobs and earn real money.
Singapore-based OWNFT World is launching an NFT project of avatars called “Guardians of Fashion” where people can submit pitches for their own avatars to be used in metaverse fashion shows and music videos. The avatars will be 0.18 eth each.
The GOF project, for short, is hoping people can earn a passive income with these NFTs, instead of NFTs that are just art and have no utility and may or may not appreciate in time.
People have already started to blur the lines between meta and real life and have created characters/avatars to exist in both universes. Digital character Lil’ Miquela already has over 3 million followers on Instagram.
Avatar experts expect for avatar usage to fully expand and grow in the coming years. Avatars for sport mascots, brand deals and more.
In recent findings, a reporter with Buzzfeed revealed the identities of the two men behind the Bored Ape Yacht Club NFT. The reveal came with much scrutiny as the metaverse and web3 offer anonymity that the real world and web2 cannot.
Such findings pose the question of what’s allowed and what isn’t in the future of the metaverse. Do avatars allow for privacy and fantasy or do they gatekeep who powerful people are?
Some called the journalist’s actions downright dangerous, while others pointed out that even Forbes publishes the names of the uber power and wealthy, why should the world inside our devices be any different?
The Buzzfeed journalist Katie Notopolous herself even received harmful threats online.
Jeff Bercovici from the Los Angeles Times said, “The backlash isn’t surprising, but it betrays deep ignorance about the function of journalism and an entitled belief that crypto must be covered on its own terms.”
Bercovici added on Twitter, “The job of journalists is to bring information about powerful entities and public figures into public view. That’s it. There is no requirement that the subjects want that information made public (they often don't!) or that they be guilty of wrongdoing.”
Ryan Cohen, chairman of Gamestop, has some big ideas ahead for the gaming retailer. Recent partnership with blockchain platform Immutable X will have IX to create GameStops NFT marketplace.
"The one-stop, ultimate destination in which everyone can come and trade their in-game owned items,” said IX co-founder Robby Ferguson.
The marketplace is said to launch later this year.
In a move that is being hailed as a game changer for the entertainment industry, Warner Bros. Home Entertainment has announced the launch of the WB Movieverse with The Lord of the Rings: The Fellowship of the Ring (Extended Version) Web3 Movie Experience NFT. This groundbreaking new release will allow fans to engage with the film in ways never before possible!
Reddit has onboarded millions of new users to NFTs during a bear market. Read on to learn more.