At some point in life, we have all heard or come across identify theft where a person’s name and personal information are stolen. Even in the virtual world identity theft can happen. The creation of highly sophisticated games that have multiplayer and the technological advancement surrounding the metaverse might bring a challenge to security.
These advancements require a lot of time and money to ensure they are secure. So, how can we ensure that the metaverses are safe and secure? For one, the metaverses developers need to come up with better ways that are advanced and that can match the technology that is currently being used in the metaverse. They can decide to generate unique codes that will be impossible to replicate. So that, if you need let’s say create some content, no one can claim ownership or rather use them without the codes.
Look at it like the genetic codes that are used to confirm the identity of a person. NFTs can provide the solution to the problem of insecurity. The sale of memes, digital art, and playing cards has been so huge in the last few years that it has taken the world by surprise. Shockingly, this year’s sale of US $69.3 million seems to be the tip of the iceberg from what NFT offers in general. If digital concert tickets can be stored in the blockchain to protect the rights and ownership of their creator or the user, why not virtual identity?
There are always loopholes in every technology. With that said, 100% guarantee that technology can have unbreakable security is next to impossible. But with blockchain effectiveness and its decentralization, assures users a new level of experience that will make it easier to protect their identity for them to move freely in the metaverse. The COO of Crypto.com Eric Anziani said that NFT would enable its users to showcase their skills and have an identity across their platforms. This identity will assist the users to have ownership of their content and therefore, selling and trading of their items would be made easier.
He later pointed out that several digital platforms were open to the idea of users having identity across platforms and some companies had started using it. It is not an easy task to provide digital or rather virtual reality players security that is impenetrable by other networks. A lot of time and money must be spent to make this possible. NFT offers its users the freedom to choose and develop what interests them based on the social, economic, and political life of the world.
NFT databases can offer a more secure identity in virtual reality than you can get in the real world. Passwords can be stolen, passports duplicated, and biometrics can be hacked. With NFT, blockchain can secure your identity and ensure nothing is replicated.
The idea of allowing identity in the metaverse is to enable people to move freely in the metaverse and to create a platform where users can explore and exhaust these worlds. The breakthrough of NFT may be found from the idea of adopting the human’s smooth movement from the physical to the virtual world, as well as from one metaverse to the next whilst creating and securing a strong identity for the users.
This was the point Anziani was trying to convey moving from a “closed-loop” to an “open-loop”. His message also emphasized the amazing opportunities NFT would continue to offer even in the future. He added that currently, trading assets is what was trending in the metaverse and that there was still a lot to be discovered and developed. Amazingly, users want a stable and secure platform. Yet NFTs open some possibilities of a disabled identity that in turn provides great opportunities for fun.
To what extent is the fun? Can the identities be rented? Can we trade aspects of our identity? Can we mint multiple identities? I am positive those are the questions running into your mind. With NFT, all these scenarios are possible. NFT: How is NFT Promoting Growth in the Metaverse Community? We have already established that there are great opportunities in the metaverse.
Currently, NFT is inspiring communities around the metaverse. Communities that come together to generate projects like PFP avatar and strange text files. These communities have grown in numbers to even reach tens of thousands of users with other members who are collectors trading or selling their items.
A scheme by the name Loot Project that converts gaming material or rather treasures such as “short swords” and “divine slippers” into collectible and later ranked by rarity, traded a collectible for US $800,000. According to Anziani, such communities are strong, and they are transforming small opportunities into large profit-making businesses. He also added that such communities were important now that social networking platforms were investing in the metaverse, and they intended on transforming the “open-loop philosophy” to a “closed-loop philosophy”.
Also, he explained that User-created metaverses enabled by NFT would be the beginning of a new era of freedom in cyberspace. He went ahead to note that NFT would open a kind of social network web 3.0 that would give the user more freedom and less centralized oversight. His conclusion was, eventually people would shift their focus that was in the “close-loop” and go for the “open-loop” metaverse which were logical and allowed its players to use their identities however they liked in different environments and for various activities all through NFT.
