3D NFTs are the next big chapter in the evolution of non-fungible tokens
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The growing popularity of non-fungible tokens in artwork and games has gained traction among celebrities, mainstream news websites, and globally recognized brands. Hence, the key companies in the NFT space are launching a 3D NFT marketplace to provide users with an advanced 3-dimensional interface to view and appreciate their NFTs. For instance,
- STYLE Protocol, a decentralized blockchain company, has announced the protocols to introduce NFTs in Metaverse and 3D space in July 2022. The company enables the NFT projects under construction in Q2 2022 into metaverse to make NFT usable in 3D for small charges. The main aim of the STYLE Protocol is to provide users with easy utilization of their NFTS of any items such as accessories, clothing, vehicles, and ammunition. Now the company is allowing a wide range of 3D NFT assets to be available to players in the multiverse.
- Theta Labs, South Korea’s blockchain network operator, announced that new 3D NFTs had been designed to be used with Sony’s Spatial Reality Display in May 2022. The display device has a high-speed vision sensor that follows the user’s eye movements to create 3Ds without using goggles and any eye-related accessories. In this project, non-fungible tokens will represent the in-world digital items such as collectibles or avatars that can be visualized easily in glasses-free 3D form.
- Smart MFG, a supply chain decentralized finance (DeFi) firm, announced the amalgamation with Polygon in February 2022 to launch a 3D NFT marketplace, Phigital. This marketplace mainly focuses on cross-Metaverse 3D assets compatibility, real-world use case NFTs and the beta version was scheduled to launch in Q1 2022. Phigital aims to address the lack of compatibility among various metaverses and gaming platforms and strengthen Smart MFG’s role as a leader in 3D assets manufacturing with a blockchain supply chain.
- Kishimoto is an anime-focused NFT platform with more than 10,000 products, including popular Kishi Ninja NFTs listed on OpenSea. In January 2022, Kishimoto Inu announced plans to release its 3D NFT marketplace that revolutionize the NFT market. Moreover, the Kishimoto team plans to launch several advanced projects such as Katsumi Governance Token launch, KishiSwap2.0, and 3D NFT marketplace to stay on top of all trends in the blockchain system. With these advancements, members can create their NFTs easily, highlight them on the 3D marketplace, or trade on the exchange.
- In November 2021, a well-known platform for Metaverse-ready 3D NFTs, MetaMundo, announced that it raised around US$ 2.7 million in a seed-funding round to launch a marketplace for 3D NFTs. An NFT game and investment company in Hong Kong, Animoca Brands led the funding round. MetaMundo will use this investment to launch the 3D NFT marketplace in 2022 and create 3D model conversion tools compatible with different Metaverse worlds.
People are utilizing NFTs as an investment option by purchasing digital art, celebrity paintings, trading cards, and digital territories. Users can buy, trade, and sell these NFTs similar to stocks, as their value changes depending on the item’s demand. 3D NFTs are a significant breakthrough in the NFT marketplace by integrating gaming assets, tokenizing digital manufacturing assets and metaverse building with better security and privacy. Hence, TechInsight expects that 3D NFTs will become the next step in revolutionizing the NFT industry, not in the distant future.
To know more and gain a deeper understanding of the NFT market in South Korea, click here.
