Augmented Reality NFTs: what is the hot topic everyone is talking about
August 31, 2021
What comes to your mind when you hear NFT? Well, maybe absolutely nothing, or perhaps you already know what this is about. Whatever the case may be, today we will explore a hot topic, Augmented Reality NFTs.
But first things first: what is an NFT? Non-fungible tokens, aka NFTs, are a kind of digital asset that exists on blockchains. However, the most exciting aspect about NFTs is that they are “non-fungible” and can’t be replaced or exchanged for something else of the same value.
NFTs can be all kinds of digital assets, such as music, videos, images, and even tweets, and – while everyone can see them – only the person who bought them actually “owns” them.
But here comes the tricky part: while NFTs are not objects themselves, they’re electronic records representing ownership of the asset.
NFTs can be used to represent real or virtual items, such as:
- Virtual items for video games such as skins, virtual currency, weapons, and avatars
- Collectibles (e.g., digital trading cards)
- Tokenized real-world assets, from real estate and cars to racehorses and designer sneakers
- Virtual land
- Domain names
- Video footage of iconic entertainment moments
Okay, cool, now we know what an NFT is; but what has augmented reality to do with all? Let’s see it.
What Are Augmented Reality NFTs?
While regular NFTs are representations of art pieces, images, or videos, AR NFTs include AR elements, such as the ability to visualize digital objects in your environment.
In short, AR NFTs are immersive experiences that can be shared via AR-enabled websites or apps – or URLs in the case of WebAR NFTs.
Of course, as there are different AR experiences, there are also many AR NFTs: let’s discover them all.
- NFTs face filters: artists and developers are increasingly combining art with tech to create face filter NFTs to share online and social media.
- 3D product NFTs: this kind of AR NFT is gaining ground in the furniture and design field; this furniture can be placed in any shared 3D space (Minecraft anyone?), virtual- and augmented-reality applications, and development platforms like Unreal Engine to create animations, games, and even CGI movies.
- Digital art NFTs: art is probably one of the most popular fields for AR NFTs and mainly digital lenses, which let users display unique pieces of digital art. With a world lens, users can interact with an art NFT by placing it in their own environment, a living room, office, or an art gallery, with AR.
What are the pros of NFTs?
Augmented reality allows creators to provide more depth and context to digital assets and define scarcity, making them more valuable.
The creators decide the quantity, going from the super rare NFTs specifically meant to be only collectible to multiple replicas of the same creation. Creators can also easily prove the digital asset’s provenance, authorship, resell it without a dealer and earn resale royalties.
Last but not least is that the NFT market is expected to reach $1.3 billion by the end of 2021, with over 5.3 million sales to date. Not bad, uh?
Considering the many types of NFTs available, it’s easy to understand that the industries interested in these trends can be many, from art to design, fashion, and many more.