Horizon Fintex

Nov 19, 2021

5 min read

NFTs and the Metaverse

How NFTs propel the Metaverse forward and where it’s headed

What’s the Metaverse?

The Metaverse is still in early infancy but the vision paints a shared virtual world which works to revolutionize our online experience.

What companies are bullish on the Metaverse?

Although Facebook garnished a lot of attention by doubling down on the future iteration of the Metaverse, we’re already seeing aspects of what a singular Metaverse could look like through other company’s ventures and digital products.

  • Epic Games has held multiple online concerts on Fortnite, where users’ avatars gathered online to enjoy concerts from world famous artists like Ariana Grande, visited educational simulations of Martin Luther King Jr.’s “I Have a Dream” speech, and other virtual gatherings.²
  • Gucci tapped into the Roblox digital realm to sell NFTs for a limited edition Gucci Collection of bags, glasses and hats.³
  • Decentraland, a platform where users can buy and sell virtual properties saw a 400% spike in their native token “mana” after Facebook made their Meta announcement.⁴
  • Microsoft introduced a feature rolling out on Microsoft Teams in 2022 which brings in mixed-reality components including holograms and virtual avatars.⁵

What role do NFTs have in the Metaverse?

Blockchain’s core elements of decentralization, transparency, and digital currency offer the foundation for the Metaverse.

In conclusion

We are clearly a ways off from a singular Metaverse where all users and platforms co-exist alongside the real world. However, the progression of blockchain acceptance and understanding, along with the validation of companies like Facebook, Microsoft, and other heavy hitters, we believe more iterations of Metaverses that offer various aspects of this exciting new digital realm are right around the corner.

About Horizon

Horizon is a fintech company that builds and powers global securities exchanges with an integrated suite of software for compliant issuance, management, and secondary trading of securities. Their in-house solutions combine Wall Street and Silicon Valley to power the next generation of securities offerings and trading in the U.S. and globally. Learn more at https://www.horizonfintex.com/.

About Upstream

Upstream, a MERJ Exchange Market, is a fully regulated global stock exchange for digital securities. Powered by Horizon’s proprietary matching engine technology, the exchange enables investors to trade shares in IPO’s, crowdfunded companies, U.S. and international dual listed equities, SPACs and celebrity ventures directly from the app https://upstream.exchange. Interested issuers can reach the team at hello@upstream.exchange.

Sources

1 The Verge

Disclaimers

This blog shall not constitute an offer to sell securities or the solicitation of an offer to buy securities in any jurisdiction where such offer or solicitation is not permitted. U.S. investors are not permitted to trade in upstream listed securities. U.S. and Canadian citizens will only be able to trade in a security they currently own that has listed on upstream for liquidation only.