Metaverse markets are blurring the lines between ‘virtual’ and ‘reality’- POLITICO


Seemingly every week there’s another blockbuster transaction in the metaverse, like the Yuga Labs “land” grab from a few weeks ago that saw users spend the equivalent of more than $300 million on virtual real estate, nearly crashing the Ethereum network.

Even in its nascent form, the metaverse already has a robust economy for digital goods like such “deeds” to virtual property, or outfits for users’ avatars. In many spaces those sales are verified by NFT tokenization. That’s a crucial part of the trade in digital goods: The NFT serves as both an authenticating token and theoretically allows for “interconnectivity,” or the idea that digital items can be seamlessly and securely ported from one virtual world to another.

The next step might be a metaverse economy that crosses over into the real world of atoms, not bits, as they say. What if you…

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