Facebook’s corporate name change to Meta Platforms wasn’t the only news coming out of Connect, the company’s annual augmented and virtual reality conference. The tech giant revealed Thursday that it’s looking at integrating non-fungible tokens into its metaverse business, a big stamp of approval for these digital blockchain-based assets, which have been criticized as a soon-to-pop bubble.
In many ways, NFTs, which are digital blockchain-based assets, are a perfect fit for the metaverse, a term for a future vision of the internet where people interact online in a three-dimensional immersive environment. People could don NFTs of clothes, skins and accessories on their metaverse avatars, while hanging NFT art in their virtual galleries. There’s also strong potential for the use of these tokens in metaverse gaming—online NFT-based games like Axie Infinity and Zed Run have already skyrocketed in popularity.
