Why not? NFT is the short form of Non-Fungible Token. It is another buzzword with Metaverse.Eventually, these 2 technologies will reshape the digital world.However, let's check beyond them.iNFT or Intelligent NFTiNFT is another level of having a digital asset.Those NFTs can talk with you! Yeah, they can talk.Alethea AI, the team behind this project had created animated & interactive NFTs & they integrated those NFTs with GPT-3. Eureka!!So, you can have one of those iNFTs & train them. When they get fully trained AI, maybe we will have our first AI friends.

Can NFTs talk with us?

Alethea AI, creator of the "intelligent NFTs," or iNFTs, has raised $16 million in a private token sale to a group of investors.

Alethea AI raises $16M in private token sale for intelligent NFTs for the metaverse

Two trends are believed to shape the world in the next 10–15 years:<ul><li>The Metaverse, and its proliferation on all aspects of society</li><li>Web3 and the democratization of the Internet</li></ul>And the arrival of both trends will firmly rely on the technology of NFTs in order to be successful.Let’s see why and how.

Understanding The Times

From <a href="https://en.wikipedia.org/wiki/Metaverse">Wikipedia </a>, the Metaverse, coined by author Neal Stephenson in his 1992 sci-fi novel Snow Crash, is described as a “collective, shared virtual space that is created when the physical realm converges with the virtual realm, which includes virtual reality, augmented reality and the internet.”Think of humans in the form of avatars interacting with each other in a 3D world.The ethos behind the Metaverse is the creation of a digital space for us to live, socialize, and work — that transcends the space-time of our physical world.

What is the Metaverse?

Be it connecting with coleagues via zoom or using FaceTime with friends.Or be it playing a game of Fortnite over Discord.Today a lot of the activities done IRL are ported to the digital realm: working, networking, socializing, gaming, etc.

The Metaverse is Inevitable

Web 1.0 was the era of static webpages where content provided by the website developer was only meant to be consumed.Web 2.0 catapulted the world from simple static desktop web pages to interactive experiences, user-generated content, and marketplace economics that brought us tech giants like Uber, Facebook and Twitter. Web 2.0 was mobile-first, social-first, and cloud-only.Web 2.0 unlocked trillions of dollars of value for the global economy, but in doing so, we consumers gave up a lot of agency over our lives, in favor of the value of the services that a handful of companies provide us.

History Of The Web

Today, we hand over our individual freedoms in favor of centralized services.The big tech companies gather a lot of data from us: where we browse, where we shop, and even we are located in the physical world. They use this information to sell us products and nudge our behaviors to benefit their ultimate customer: the advertisers.More on this dilemma is expertly covered in the Netflix doc <a href="https://www.netflix.com/title/81254224">The Social Dilemma </a>.Moreover, we allow these companies to house our information — leading to a single point of failure in the advent of a security breach.

The Key Resource: Data

The new era of Web3 champions:<ul><li>“Open” — meaning built on open standards, by an open and accessible community of developers and executed with full transparency</li><li>“Trustless”— meaning participants can interact with the comfort that all information is correct and authenticated — without needing to trust a third-party to verify</li><li>“Permissionless” — meaning no one can be barred from participation, even from an authority figure like a government</li></ul>networks. Blockchain protocols like Etherium help build open financial systems where anyone can build and participate without the need of financial institutions.

Web 3.0

If the Metaverse were to exist in a Web 2.0 setting, centralized institutions like Facebook and Google can control our experience — living in their data centers that can be shut off by their whim, where they control what we see, and our data gathered in order to sell for profit or to be shared with authorities like governments.If you’re going to live a sizable chunk of your existence in the Metaverse, you may as well have ownership over those digital items.NFTs cryptographically prove that you, and you alone, are the owner of your digital items. And no one else can take them away from you.

NFTs are Digital Ownership

NFTs have cracked the <a href="https://www.coindesk.com/nft-emotion-as-a-market-force">problem of digital scarcity </a>, enabling creators for the first time ever to accurately price and safely distribute their works.As a result, NFTs allow artists to monetize their work in a new way, empowering them to cut out money-grubbing middlemen and forming direct relationships with their supporters and fans.Everything similarly clicks together when skilled professionals look to work directly with their clients in virtual workspaces.

NFTs As A Solution

These new and upcoming ideas could very well shape up how we interact and work with each other in the near future. It's good to have a basic understanding of these buzzwords.

They’re not only here to stay as a new form of digital art, but they’re also going to a foundational technology for how the world will operate in the future. It may sound like I’m being…

Coding

The Metaverse, Web3, and the Inevitability of NFTs

Though creator coins (also known as social tokens) are in their nascent stage, they are quickly becoming a powerful tool that most, if not all, content entrepreneurs should want in their bag.To get started in coinage, <a href="https://www.thetilt.com/revenue/content-creators-non-fungible-tokens-coins-nfts">you can mint </a>a creator coin or social token through platforms such as <a href="http://www.rally.io/">Rally </a>and <a href="https://bitclout.com/">Bitclout </a>. Bitclout simply requires creating a profile to be eligible to create a coin. Rally has a more detailed application and vetting process.people can buy, hold, and sell your social tokens. But unlike most, coin holders also can receive benefits unique to your content business.

Getting started with Social Tokens

Brian Clark created <a href="https://rally.io/creator/MOVE/">$MOVE coin </a>. The founder of Copyblogger, Brian also publishes Further, a personal growth newsletter, and launched Unemployable, an educational community for solopreneurs. He has built a thriving Discord community talking creator coins and NFTs for coin holders with at least $15USD in $MOVE coins. This group also receives 10% of training and events. Community members who increase their investment to $120 USD of $MOVE gain VIP access to exclusive small group coaching and 50% off training and other events.

$MOVE

Nicholena Moon is in the top 0.06% of Twitch streamers, but she is growing her community through her <a href="https://rally.io/creator/MOON/">$MOON coin </a>. Though her audience can interact with her on Twitch, they can elevate their interactions by joining the $MOON Coin Discord server to “talk about gaming, crypto, Twitch, Rally … play in daily Hearthstone games … bid on NFT auctions, and listen to unreleased music.” It’s free to join the Discord server, but coin holders can take on special roles and gain additional benefits.

$MOON

The emo-rock band Emery has been around 20 years, but it’s taking on the future with its <a href="https://rally.io/creator/WALLS/">$WALLS coin </a>. It’s set up a private Discord server for holders of at least four coins. They plan to sell special pop-up merch on the server as well as “grow a cohesive, collaborative community that sustains the art at the center while enhancing relationships and value.”

$WALLS

<a href="https://www.thetilt.com/what-is-tilt-coin">The Tilt </a>has its own coin (<a href="https://rally.io/creator/TILT/">$TILT </a>). While they can be purchased, readers and contributors also can earn them for referring new subscribers, contributing guest blog posts, and more.&nbsp;As founder Joe Pulizzi explains: “At The Tilt, we believe that the audience and community we are working to build should also benefit financially."We’ve also launched a Discord server for The Tilt community, which has their own robust cryptocurrency/coin conversations. You can <a href="https://www.discord.com/invite/GZ4B3XAxMu">access it here </a>. (It’s free to join. Some levels are available only to $TILT coin holders.)

$TILT

You don’t need creator coins to build an audience. In fact, you probably should have at least some audience before you mint a coin. Then, use your coin to grow a community where people can gain an even more direct value of being involved. When you develop a community, you should be prepared to be active in it. That’s particularly true for communities built through a currency like creator coins. When members have an investment in your content brand, they have higher expectations of what you deliver.

Community building 101

Social Tokens are a method for content entrepreneurs to stimulate their existing communities to contribute more.

Creators who mint their own creator coins (aka social tokens) can use them to grow communities, not just build audiences - The Tilt

Web3

Social Tokens (aka Creator Coins) examples

Content creators — artists, musicians, writers, social influencers — are the true stars and revenue drivers for media properties, but they are often not adequately rewarded for their efforts. The relationship between creator and fans is intermediated through a third party, such as Instagram, which shares the revenue and exerts some artistic control. By directly rewarding creators for their work, social tokens — a type of cryptocurrency (crypto) whose value reflects fan enthusiasm — may fundamentally disrupt this long-standing model. Creators, in essence, become their own economies.

In Web 3.0 the creators are directly rewarded by their audiences

Content creators can use the tokens they issue in two self-reinforcing ways: to build and reward their fan community and to compensate themselves for their creative work. Most frequently, fans buy tokens, but some artists, such as RAC, give them away to loyal fans. As community members, fans receive benefits such as unique video content, access to group chats or exclusive merchandise. Generally, different ownership levels receive different benefits.Because only a limited number of tokens exist, rising demand increases their value.

Building and rewarding communities + compensating creators

In 1997, David Bowie issued <a href="https://www.ft.com/content/6b4839dd-0539-34c4-bb1d-0edf95255d72">Bowie Bonds </a>, an asset-based bond that securitized the income from his earlier albums, paying 7.9% annual interest over the decade to 2007. Prudential Financial paid $55M for those bonds.

David Bowie issued a precursor of Social Tokens

Social tokens are further evidence of the internet’s move from Web 1.0, which provided information more efficiently, to Web 2.0, where users create content that platforms curate, to Web 3.0, where users curate their own content. Social tokens, true products of Web 3.0, directly connect the creators and consumers of content. They differ from celebrity bonds because there’s no intermediary in the transaction, and from ICOs because they plug into existing community-building efforts around the creator, driving actual value creation.

Social Tokens directly connect the content creators & consumers

• Access: Fans may simply buy tokens for the access they provide. For example, one band (Portugal. The Man) gives fans who buy 10 coins access to benefits such as the band’s audio archive, text and video chats, and other benefits. •&nbsp;Exchange: The coins can be used as a medium of exchange. Instead of the “tip jar” found on some websites, fans directly donate a token to compensate the creator.•&nbsp;Investment: With the token supply limited, rising demand drives value up. Fans can redeem coins, treating them as an investment (albeit a very risky one), and creators can augment their their income.

The 3 ways of using Social tokens

Token value depends on a creator’s ongoing content production. Failing to deliver would be professional suicide. <a href="https://www.theguardian.com/us-news/2019/jan/08/instagram-influencers-psychology-social-media-anxiety">Anecdotal accounts </a>show that influencers can suffer psychological harm from the stress of constantly providing content. As a hypothetical example, would Taylor Swift have gone pop if the “TaylorCoin’s” value might’ve cratered?Several <a href="https://www.mondaq.com/unitedstates/advertising-marketing-branding/1084096/a-legal-primer-on-social-tokens">legal gray areas </a>exist for something as novel as social tokens, ranging from concerns about false advertising to broad liability issues. The SEC is working on <a href="https://www.sec.gov/news/public-statement/peirce-statement-token-safe-harbor-proposal-2.0">defining safe harbor provisions </a>for tokens, which would clarify some elements of the space.

The risks of Social Tokens

Exploring how will social tokens change online communities as we know them today. How will middlemen fade away and creators will retain much more value from their audiences.

Creators, in essence, become their own economies.

Social Tokens: a web 3.0 method for engaging communities and compensating creators

<ul>
<li>First developed for the military, the internet wasn’t always the closed, capitalistic ecosystem that it is now. </li>
<li>Before the tech giants staked their claim on billions of users, it was a decentralized place with no custodian.</li>
<li>Now, only a handful of companies control most of the internet, using addictive content and smart algorithms. </li>
<li>They use the vast amount of user data generated every minute for building tools to predict consumer behaviour and feed their AI engines.</li>
</ul>

We Lost The Internet

User data is the fodder of AI(artificial intelligence) and is required for the global tech revolution. This personal information is the new oil, and individuals, who are the real and rightful owners of their data, are now starting to realize its value.

The Digital Currency: User Data

<ul><li>The early days of Web 1.0 had users connecting directly with friends and family and most of the online stuff was unregulated.</li><li>Web 2.0 has been mostly about social media and companies using consumer data for their AI engines.</li></ul>Web 3.0 aims to decentralize the internet by giving users complete control of:<ul><li>Their data.</li><li>Their communications.</li><li>Their networks.</li><li>Their security.</li><li>Their privacy.</li></ul>

Web 1 2 3

Web 3.0, or the DWeb, is the Decentralized Internet and does not have any hosting company, making it completely democratic.It is controlled by users themselves, and not by a handful of tech giants with valuations touching a trillion dollars.

Decentralized Internet

<ol><li>No possibility of monopoly or control by big tech.</li><li>Full security and privacy, due to its distributed nature.</li><li>Complete encryption of user data with no exploitation by tech giants.</li><li>Device interoperability for seamless and easy switching.</li><li>No central hosting results in no service failure.</li><li>Data is distributed in a semantic way across systems and platforms, bridging different data platforms and formats.</li></ol>

Benefits Of Decentralized Internet

<ul><li>Due to the non-compatibility of internet software and the high levels of technical skills required, work on the DWeb(Web 3.0) is facing slow developer adoption.</li><li>There is also the problem of having full security along with ease of use, as any security comes with censoring or restrictions.</li></ul>

web3