Mark Zuckerberg´s recent announcement has taken the world by surprise. The social media network behemoth has signaled a change course and will dedicate its energy to helping shape the Metaverse.
This could have sounded like science fiction a few years back. How can you claim property over something that only exists in the digital world? Wouldn´t others just copy your assets and replicate them endlessly?
However, blockchain technologies, such as Ethereum, have shown that there are ways to encrypt property and give owners exclusive rights to a piece of art, helping ensure scarcity and store its value over time.
Many business models have started to change with this new certainty of blockchain credibility. Worlds such as the Metaverse, where users can create and sell items to one another without a centralized authority, have been around for a long time now.
Most MMORPGs have been modeling worlds that would resemble what is being attempted in the Metaverse. The main difference is that Metaverse architectures are allowing for new ways of transactions between participants to take place.
This change of course is seen by many as Meta´s way to ensure its relevance in the upcoming Metaverse revolution.
Today, worlds like The Sandbox or Decentraland have been growing consistently, drawing the attention of businessmen and brands to start changing their marketing strategies towards a world-building approach where they allow their customers to experience their vision or even try their products on in the hopes that this helps them solidify customer loyalty.
Where Does That Leave Artists?
Artists are always on the vanguard when it comes to trying new technologies in ways nobody ever thought possible. We have seen a rise in the popularity of pieces of art sold as non-fungible tokens. These blockchain based assets bring new opportunities for artists to share their creations to the masses and still make sure their collectors retain the property of their purchases.
A new way of thinking about art has emerged, where scarcity and decentralization are the new standards for creative works. While creative industries have been slow to adapt, more and more artists are starting to see that blockchain technologies can serve as an alternative to traditional ways of making money on their creative work.
Last year, an innovative and groundbreaking collective called Crazy Noodles Gang launched a digital artwork collection. The collective is helmed by iconic Japanese pop artist and sculptor Hiro Ando. The art collection is based on his now cult-status Samurai Cat resin statues and is an effort to allow his followers to own a part of his art.
The idea is simple. Followers will be able to get their hands on one of 4747 Samurai Cats NFTs that will be randomly generated using more than 300 hand-drawn layers that popped up from the mind of Hiro Ando himself. The final owners will enjoy ownership and complete commercial use rights of their NFT. This caught the attention of American DJ and artist Steve Aoki, who recently became the owner of one of the tokens, garnering massive attention from fans who soon jumped into the Samuraicats bandwagon.
This has positioned Hiro Ando among the host of digital artists who have seen their brand flourish thanks to the NFT technology.
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