Is digital currency hard wallet + metaverse + NFT expected to become the next big outlet?

Is digital currency hard wallet + metaverse + NFT expected to become the next big outlet?

Digital currency hard wallet + Metaverse + NFT will have a big outlet in the future. Many people have begun to step into the metaverse on the wave of digital currency. This trend invisibly gives NFT wings. So, let's take a look at what are digital currency hard wallets, metaverse, and NFTs, and what are the necessary connections between the three.

1. Digital Currency Hard Wallet

The so-called digital currency wallet is a storage medium for digital currency. There are many types of digital currencies. The digital RMB that the China's central bank is piloting is a specific application form of digital currency. Individual and corporate users can open digital RMB wallets at operating agencies designated by the People's Bank of China for payment and settlement services such as digital RMB exchange, storage, and circulation. Digital currency wallets can be divided into soft wallets and hard wallets. Digital currency soft wallets are mobile apps and various software development kits, etc.; digital currency hard wallets store the keys associated with digital assets in a chip, which is isolated from the Internet to ensure the security of digital assets. With the continuous advancement of digital currency, the digital RMB (pilot version) App has been launched on major Android App Stores and Apple AppStore. At present, the opening of a digital RMB wallet is still subject to a whitelist review system. The app only accepts registration and use by users in pilot areas and pilot scenarios. Users can open digital RMB wallets(also known as digital currency wallets) for ICBC, ABC, BOC, CCB, BCM, PSBC, CMB, WeChat and Alipay.

2. Metaverse

As cultural identity is increasingly condensed on digital carriers, the ability of the digital world to meet various needs of human nature is also improving. When people can carry out rich enough economic and cultural activities in the virtual space, a new way of interacting with the world is also born, that is, the metaverse. 

3. NFT

The full name is Non-Fungible Token, which is the only cryptocurrency token used to represent digital assets (including jpg and video clip forms). It is essentially a technology, a method of marking ownership of native digital assets that are not interchangeable and can be bought and sold.

4. The Relationship Of The Three

Blockchain builds an open and stable value carrier, and provides full possibilities for digital value flow and collaboration between individuals, but building a complete worldview experience also requires huge infrastructure support. 5G, VR equipment, IoT facilities, AI technology and clean computing power are all indispensable key industry pillars. In the direction of blockchain, digital identity systems, decentralized storage and fog computing still need to be developed. 

According to the current consensus, the five elements of the Metaverse include a reliable economic system, virtual identities and assets, strong sociality, immersive experiences, and open content creation. If the Metaverse will eventually achieve the creation of an independent immersive virtual digital world with an open, self-consistent economic system, low access restrictions, smooth real-world interaction and persistence, then we are still in the budding period of the Metaverse. 

In the protection of intellectual property rights, confirmation of rights is a major problem. NFT relying on blockchain technology has the advantages of traceability and irreplaceability, which helps to realize the traceability of property rights in the whole chain. This is the proper meaning of blockchain technology to play its value. The same is true for the Metaverse. Aside from buying and selling land and real estate, people can create scenes and characters that are comparable to reality in the game world, and a more powerful game engine can achieve a more humanized intelligent interactive experience. The maturity of technical equipment has shortened the distance between people and the virtual world to an unprecedented degree, and blockchain technology has built a bridge between the real world and the virtual world. Such a metaverse is obviously expected and desirable.

Therefore, the combination of digital currency hard wallet + metaverse + NFT is expected to become the trend of future development, but it still needs to be debated. It is necessary to seriously examine the innovation-driven role of blockchain technology and the metaverse, and to provide an inclusive environment for real innovation to serve people's better lives.