Blockchain technology and cryptocurrencies hold the key to disrupting global societies and economies much like, if not more than, the internet did in the early 21st century.
NFTs (non-fungible tokens) will be the critical infrastructure in marrying analogue and digital realities on our way to establishing metaverses that will become digital extensions of our analogue worlds.
This transformation will become a reality when a wide range of industries can rely on improved NFT standards and protocols with embedded license rights, extended metadata per industry vertical, and a new liquidity protocol.
By launching an infrastructure that enables better NFT standards, proper ownership rights management, and improved liquidity for non-fungible tokens, we aim to empower creators, users, collectors, and investors to generate, utilize and trade new generations of NFTs.
NFTs as “certificates of authenticity” enable true digital ownership and cross-world asset utility. Bridging the gap between digital and real is the core mission of ALL.ART Protocol. A new mass participatory medium, NFTs serve as the gateway for onboarding billions of users into new digital worlds. Our mission is to enable metaverse builders equipped with NFTs to fundraise their next endeavors. As open metaverses continue to evolve, NFT owners will gain a greater appreciation for the programmable nature of the digital medium that allows dynamic use cases within the virtual and real world.
NFTs create a legal way for digital assets to retain value and be used not just in one game/metaverse but in potentially numerous ones. NFTs will become the base for portable assets across virtual worlds, enabling dynamic communities and open economies. This fuels a a more participatory digital transformation and economically rewards creatives.
Our mission is to make it all happen.
NFTs at the Moment
NFTs are an emerging asset class. Excitement is booming and communities are exploring uncharted territories of NFT utilization. Creativity and innovation are driving the change in how we connect the digital and real worlds in this new “NFTized” reality. Metaverses are the next frontier where interoperable NFTs will be used in cross-world scenarios yet to be envisioned.
Non-fungible tokens are built around the “ownership” of a digital token, which we agreed represents a digital item. However, what are we actually buying when we buy an NFT? A hash value, metadata? Or a real-world item: a work of art itself, a gaming asset? Can we buy NFTs and use them anywhere outside of digital platforms? Property rights were never a design feature of NFTs, yet more and more projects are requesting proper solutions for this issue.
By integrating licenses into non-fungible tokens so there's no more gray area around ownership of NFTs, we will unlock the creator economy and deliver one of the core values of web3, interoperable IP. Imagine owning a PFP and deciding to write a children's book with your avatar as the main character, or developing a P2E game and wishing to inject other IP into your game but are unable to do so trustlessly and seamlessly in today’s world.
To fix this oversight, we need to work on standards, protocols, tools, and platforms that will allow such a transformation to happen.
The new infrastructure must be substantially better and more widely supported to transform the status quo and move markets forward, into the “NFTized” future connected with the expanding metaverse space.
The foundation for this future is being built today. Early adopters are creating an infrastructure that will bring billions of people into blockchain-powered economies. It is clearer than ever that this will happen through NFTs and metaverses. Digital economies of the future will be driven by how fast companies are adopting NFT technology into their businesses.
Transactions must be fast and cheap. Energy consumption must be minimal. Registered NFTs on the blockchain must be compatible and compliant with established regulations and IP laws. Artistic values on the blockchain must follow international standards for ownership transfer, provenance documentation and verification. Collectors must be able to benefit from purchased NFTs beyond speculative trading. Utility must be embedded into every NFT sold or utilized.
Once we have lowered fees (which we're beginning to see happen through various L1 and L2 solutions, like our platform Solana), introduced license rights, and built more utility into NFTs than there is now, businesses and users will be able to control revenue streams, use NFTs in ways that weren't possible before as far as interoperability is concerned, and a whole new surface area in the creative and industrial layer will be unlocked that these NFTs can now exist and build upon.