NON-Fungible Tokens are unique cryptographic tokens that exist on a blockchain and cannot be replicated. They give complete ownership of a digital asset. Like a kind of digital provenance. It can be traded, and its history of ownership is visible for everyone to see on the blockchain.
NFT’s with utility are tokens that hold value in what they offer with ownership, akin to a membership or joint ownership of something. Basically an NFT with utility is like a set of digital keys that unlock websites, subscriptions in real life events etc.
Blockchain is the technology the underpins digital currency (Bitcoin, Litecoin, Ethereum, and the like). The tech allows digital information to be distributed, but not copied. That means each individual piece of data can only have one owner. The blockchain is a digital ledger – think of it as a digital shopping list that everyone can see, it can not be edited but only added too.
Web 1.0 – Start of internet with HTML websites that allowed users to mostly ‘read’ only content. Early MSN messenger allowing users to chat.
Web 2.0 – Boom of social media with users being able to ‘read’ and ‘write’ content but majority of data was owned by internet companies like Google, Facebook etc
Web 3.0 – New era where users will be able to own their data with decentralization, openness, and greater user utility.
(We are probably at web2.5 stage at the moment)
The ‘metaverse’ can be any digital environment including virtual realitycharacterized by persistent virtual worlds that continue to exist even when you’re not playing—as well as augmented reality that combines aspects of the digital and physical worlds. Gaming environments are seen as mini metaverse (think of Roblox and Fortnite)
Buzzmint enables brands to quickly and easily create tokens/NFTs of their digital assets to market + sell to their loyal customers with a fully integrated storefront. Buzzmint is a full service creative crypto agency from ideation, creation and delivery.
We believe that Web3 education is key to understanding and developing this technology going forward and especially for mass adoption. Buzzmint provide worksops and ideation sessions for companies to understand the fundamentals and how they can build a Web3 strategy – academy.buzzmint.io