{"id":6569,"date":"2023-06-16T10:34:08","date_gmt":"2023-06-16T10:34:08","guid":{"rendered":"https:\/\/devexperts.com\/blog\/?p=6569"},"modified":"2023-06-19T10:47:35","modified_gmt":"2023-06-19T10:47:35","slug":"the-only-nft-metaverse-article-you-need-to-read-part-2","status":"publish","type":"post","link":"https:\/\/devexperts.com\/blog\/the-only-nft-metaverse-article-you-need-to-read-part-2\/","title":{"rendered":"The Only NFT \/ Metaverse Article You Need to Read This Year\u00a0(After You\u2019ve Read the First One!)"},"content":{"rendered":"\n
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Welcome back! Okay, so, we\u2019re in the somewhat interesting position of adding a Part 2 to our popular NFT\/Metaverse article<\/a> from last year, but in a completely different kind of market. Part 1 was published at the beginning of 2022 when NFT mania was in full swing. Part 2 is to be published in the middle of 2023 when the brutal bear market seems to be over for at least some major cryptocurrencies. <\/p>\n\n\n\n

For our part, we did raise the alarm that it was a bubble, and it burst unceremoniously when capital started fleeing crypto (and other risk assets) in anticipation of tighter central bank policies stemming from the post-pandemic inflation we\u2019ve all been living with. As Warren Buffet says: \u201cit\u2019s only when the tide goes out that you discover who has been swimming naked.\u201d<\/p>\n\n\n\n

The absence of mania surrounding NFTs and the Metaverse is also an opportunity to take a sober look at the space, as well as fill in the details of what these technologies are really going to be about when the novelty of swapping crypto thumbnails wears off.<\/p>\n\n\n\n

We spent quite a few column inches last time around presenting the core principles of the technology on the one hand while warning of bubbles and the misuse of buzzwords on the other. They say that bear markets in crypto are the perfect time to build, so, this time we\u2019d like to get a little deeper into the use cases beyond the ones you may be familiar with.<\/p>\n\n\n\n

Solutions looking for problems?<\/h2>\n\n\n\n

It\u2019s perhaps a little unkind to refer to NFTs and the Metaverse as solutions looking for problems, but, at least in the case of NFTs, the manner in which they\u2019ve come to the public’s attention certainly leaves them open to this criticism. <\/p>\n\n\n\n

One of the first defenses that NFT aficionados almost invariably mount to this criticism is to refer to \u201ccommunity\u201d as being the real point behind these collectibles. You hear a lot about community in the NFT space. However, when you look a little closer, you find that often the word refers to:<\/p>\n\n\n\n