String of Thoughts On Metaverse / NFT / Digital Currency [On-Going]
This will be a string of my on-going strings of thoughts on Metaverse, NFT and Digital Currency (cryptocurrency). I just like to have a post to consolidate my thoughts on these 3 Topics - in order to understand more about the future (and if I forget).
Anyone who want to join this discussion can place your comments in the comment box below and NOT any of the comments on various platforms that this post appears. This will allow a consolidation of thoughts.
22 Nov 21
1. Metaverse require NFT and digital currency to work.
2. Digital Currency might or might not be Crypto Currency. It can be just a currency within the ecosystem.
3. A metaverse is like a planet. In future, there will be numerous "planets" to form a metaverse "universe".
4. FB will not produce the whole universe. It will only be one of the "planet".
5. A NFT developer can earn a recurring % from every transaction on that specific NFT that he created. For example if person A creates a NFT A on Platform A, person B buys NFT A and then sell it to person C. Person A will earn 2 times from the 2 transaction. The full amount from person B and a % of the transaction from person B to C.
6. NFT can be transferred between wallets if it is within the blockchain.
7. [Amended] Not every NFT Platform will have a wallet. Some NFT Platform allows linking of many wallets. Wallets are not a part of the NFT platform. These wallets simply connect to the NFT Platform.
8. NFT platforms simply facilitate the transaction of NFT from buyer to buyer, or sometimes from artist to buyer.
9. Smart contracts that can bypass the NFT platforms entirely, such as the Solana blockchain. Only when the minter wishes to sell his NFT, he needs to list it on an NFT platform.
10. All L0 L1 & L2 Cryptocurrency coins have their own native blockchain.
29 Nov 21
11. Web 3.0 and Metaverse are similar concepts.
12. Ethereum is required for Metaverse and Web 3.0.
More thoughts to be added soon...
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