CRYPTO CORNER EPISODE 158
In today's episode I present to you the latest offering from the gaming industry with unique Augmented Reality and Virtual Reality features and customizable ownership of NFTs that you can use to create unique experiences or rent out to other users, or simply trade for profit.
I interview the co-founder of OVR to get a valuable insight into their product.
You can NOW buy OVR Tokens by participating in the public sale through this link: https://marketplace.ovr.ai/public-sale
☝Official Website: https://www.ovr.ai/
Telegram Channel: https://t.me/OVRtheReality
Token Metrics: https://www.coingecko.com/en/coins/ovr
Let's talk about NFTs ...again.
The birth of blockchain and decentralised networks introduced a ton of new opportunities and innovation in the tech world beyond cryptocurrencies and we are now experiencing so many new projects that come into this space. Last year's growth of DeFi is still on everyone's lips and another sector that is now thriving in the blockchain space is gaming, but more precisely, NFTs - non-fungible tokens. I already talked about NFTs a few times in previous episodes and I featured here projects that create innovation in this niche, so we're continuing the topic with the featured project today: OVR.
Before we dive deeper, let me quickly explain what is a Non Fungible Token in case you missed my previous posts.
This is a digital token with unique qualities, unlike cryptocurrency tokens where each unit of that cryptocurrency is interchangeable with another unit of the same cryptocurrency or in the physical world this is best illustrated with regular currencies where a $10 note is interchangeable with another $10 note or ten $1 notes since they represent the same value and purchasing power. NFTs in contrast, are not equal to each other and therefore they are not mutually interchangeable. This makes them quite different from your typical cryptocurrencies, despite being digital assets existing on a blockchain - like cryptocurrencies.
Currently NFTs are mostly built on the Ethereum Network and these can be anything from Art creations, or gaming tokens, Popular Movies collectible cards (star wars or Dr Who for instance), collectible sports cards and even celebrity tweets. A popular Doge tweet by Elon Musk is apparently valued at more than $7000, even though I've no idea what's so special about it.
Anyway, more than $75,000 has been already made in offers to buy tweets, and over 400 “NFTweets” were actually sold last year.
If this sounds mind-blowing, there's even more: The biggest sale of NFT to date is a set of plots of virtual land, which went for $1.5 million dollars on blockchain game "Axie Infinity" just a week ago.
Gaming and Art are just two examples of the use cases for Non Fungible Tokens. The market for NFTs and digital collectibles has grown rapidly as cryptocurrency holders look to spend their newly found wealth on crypto art.
What is also very attractive to investors, is that these digital assets can be in fact, very lucrative investment tools as they are being traded for profit and in quite high volumes too.
A new report on the exploding market for non-fungible tokens (NFTs) reveals that transactions tripled in 2020, reaching more than $250 million in total.
Clearly, the market has grown exponentially since we first heard of NFTs back in 2017 when the record-breaking "Crypto Kitties" game almost crashed the Ethereum Network and with the whole crypto market hitting record figures last year, the NFT industry saw astonishing growth, with use cases expanding, buyers vastly exceeding the sellers, and plenty of traders making six-digit profits. This is according to a new report, released this week by the leading NFT analysis firm NonFungible.com.
In the report I saw some interesting statistics, for instance, market capitalization of NFTs shows that the Metaverses clearly have the biggest share among all NFTs, and they are also with the highest liquidity, followed by sports collectibles and gaming.
It is interesting to note that Art currently occupies only a relatively small portion of the total Market Capitalization.
According to the data in the report, the total value of all NFT transactions increased from around $62 million in 2019 to more than $250 million in 2020.
Today's featured project also found its place in the NFTs Annual Report and quite rightly so.
As I mentioned, metaverse dApps are with the highest traction according to the latest statistics and this project is exactly in this niche.
It's called OVR and is a decentralized platform of the Spatial Web, mixing the physical world with Augmented Reality and Vitrual Reality offering NFTs that users can buy, rent out to other users and of course, sell for profit. These NFTs are also pieces of virtual land as the App offers an alternate reality much like the ultra popular Second Life and Pokemon Go with the added benefit of using blockchain-based protocol and decentralized governance.
According to recent reports, the augmented reality market is expected to reach $137 billion by the end of 2024.
My Research also highlights that investments by the most important tech giants like Apple, Facebook and Google reveal the huge potential of the Augmented Reality, not only as a technology, but as a new and powerful communication channel, able to convey any type of content and usable in any sector.
Today I am joined by the co-founder of OVR - Diego Di Tommaso, who will shed more light into the key aspects of their product.
Take a look at my full coverage of this exciting new gaming experience in today's episode of Crypto Corner:
All in all 2021 is poised to be an eventful year the NFT sector, the massive acceleration during the second half of 2020, driven by the Crypto Bull Run, is also accelerating the Bull Market in this industry.
OVR is an innovative project that adds an extra layer of interactivity via their Augmented Reality and Virtual Reality in conjunction with a customizable management of the NFTs that can bring additional revenue from advertising, as well as many other use cases and these are tradable assets too, which is a win-win scenario.
From what we've heard so far, it is obvious that OVR is disruptive for different sectors in addition to augmented reality such as:
• Digital content monetization
• Digital advertising
• P2P jobs creation
• Digital experience monetization
It seems to me that 2021 is going to be a great year for this project as it grows its user base and the value of their token appreciates, so getting in early is of course an advantage for anyone and I am proud to have covered this project ahead of anyone else.
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The information contained in this video is for informational purposes only. Nothing herein shall be construed to be financial or legal advice. The content of this video reflect solely my own opinions. Purchasing cryptocurrencies poses considerable risk of losses.
This information is what was found publicly on the internet. This information could have been doctored or misrepresented by the internet. All information is meant for public awareness and contains what is already in the public domain. Please take this information and do your own research.
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