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Can the world of fashion entertainment be revitalized by Non-Fungible Tokens (NFTs)? Fashion media has long been an important part of the human culture, but it could be said that it’s in need of a little update to better reflect today’s digital era. NFTs are increasingly starting to play an important role in bringing fashion media into the metaverse age, so let’s take a look at how this budding technology can change how we view fashion media as both consumers and content creators.
A quick guide to what you need to know about Metaverse
One of the most innovative types of blockchain tokens being introduced today is the non-fungible token or NFT. Unlike Bitcoin and other cryptocurrencies, which are fungible by design, NFTs are unique digital assets that cannot be substituted or replaced. Therefore, they can be treated like collectibles and used in a wide variety of applications beyond simple payments. One such application is bringing fashion media into the metaverse age.
An overview of IPFS and how it works
As our lives and the things we produce continue to become more digital, new needs arise in the ways that we manage data. Services like IPFS try to solve those problems by bringing fashion media into the metaverse age. What is IPFS? How does it work? Let’s explore! The InterPlanetary File System (IPFS) is a protocol and network designed with two main goals: make it easier for computers to find content on other computers using cryptography and provide a way to store and serve large amounts of data quickly with minimal overhead. The first of these — finding content on another computer — is made possible through a novel idea known as Distributed Hash Tables or DHTs for short.
A step by step guide on how to use IPFS with MetaMask
Here’s how to use IPFS with MetaMask using a terminal emulator. This will allow you to host NFTs on the blockchain, which is not something that the fashion media currently offers. If they used the blockchain, they could easily embed their smart contracts into a webpage and get rid of those pesky databases. By taking advantage of MetaMask and IPFS, we can turn fashion into the sharing economy that it was meant to be! It won’t be long before everyone wears one-of-kind pieces curated by other customers or even themselves. You might want to also see about getting your own ENS name for your store for extra exposure!
A quick walkthrough on getting started with Crypto Kitties
CryptoKitties lets players buy, sell, trade, and breed cryptographically unique virtual cats. And now, the game has expanded into a full universe that provides services similar to those of traditional media companies by letting you purchase NFTs—decentralized tokens that represent physical or digital assets and resell them on an exchange. To give the game credit where it’s due, CryptoKitties was one of the first mainstream applications to bring fashion media into the metaverse age. The post will then discuss: What are non-fungible tokens? And how do they work in CryptoKitties’ economy and beyond?
Where next for fashion, real estate, and insurance
The emergence of non-fungible tokens or NFTs will bring fashion media into the metaverse age. Now in development, the concept is already attracting some impressive investors including Gilt Groupe and Eastdil Secured. Considered to be the greatest fashion news outlet of 2018 by TechCrunch’s TC50 list, Stylecaster Inc has launched an exciting crowdsale via Ethereum’s ERC20 token standard to fund their new virtual reality platform which aims to become a global magazine and content hub for the industry. Non-fungible tokens are game-changers, says Roderick Lynch, Chief Token Officer at Stylecaster Inc., we aim to present one of the first functioning applications for a use case that has been unexplored but with enormous potential.
While NFTs have many use cases, one of the most exciting ways to use them is in virtual reality. In the metaverse, NFTs help bring fashion media into the metaverse age. However, next is Fashion/Art with over 3K users? Next up is Academic with 2k users and finally, Social Media where 1k people are using blockchain technology; because people love memes! As usage stats grow and we have multiple kinds of media implemented into virtual reality – a new world may emerge; entertainment and fame could be mineable resources as well as interactions.