Imagine a world where all your non-fungible tokens (NFTs), whether they come from a video game or a marketplace, are gathered and virtually accessible in the same place. Discover the OVR project and its builder, a virtual universe implemented on the OVR platform and allowing the interoperability of NFTs and their metaverses.
OVR, or the metaverse revolution
Before diving into the OVR technology, it is necessary to set the scene. Metaverses are fictional environments that form a combination of the real world and several virtual worlds. Within them, people can embody avatars of themselves and interact with other individuals or with digital objects.
As an example, a metaverse can be compared to an online multiplayer video game, bringing together several different game worlds. Moreover, the concept of metaverse has really materialized with the advent of new technologies, and especially augmented reality. Able to superimpose any image on the universe that surrounds us, it creates the illusion that the real and the virtual coexist on the same plane.
In these parallel worlds where digital assets have real value and can be a currency of exchange, the blockchain appeared as an obvious choice. Non-fungible token technology (NFTs) was the missing piece that fit perfectly into the metaverse puzzle.
NFTs have enabled uniqueness and real ownership of digital assets. Once impossible to monetize because of their infinite replicability, these digital contents have become valuable and even tradable thanks to the ERC-721 standard. However, there is another, lesser known, but potentially revolutionary attribute related to NFTs that could open up a whole new horizon for blockchainized metaverses: the interoperability of digital assets.
In the remainder of this article, we will look at how OVR is poised to break the boundaries of different metaverses concurrently present in the cryptocurrency ecosystem by enabling their interoperability through NFTs.
Building a virtual world where all worlds meet
NFTs open up new horizons
The certification of the uniqueness and ownership of a digital asset through NFTs allows you to fully dispose of it. As a result, you no longer need to hide your digital file and can share it with the world while retaining ownership of the original version.
For example, if you download a high quality version of “Everydays: The First 5000 Days”, Beeple’s work that was sold as an NFT for $69 million, you can dispose of it without permission and without taking a single penny off the value of his art.
Similarly, bockchainized metaverses – that is, implemented on the blockchain – use NFTs to establish ownership of their native assets. However, one problem remains: currently, the NFTs you buy on a marketplace or harvest in a game are not interoperable. For example, you can’t move the monsters you catch in Pokémon Go to other VR games and enjoy them.
What’s the point of having these digital assets freely available if they remain confined to their own worlds? It should be possible to decompartmentalize them and bring them together in a central entity.
OVR Builder, the metaverse to unite them all
Well, through its OVR Builder tool, OVR seems to offer a tangible answer to this problem. At least that’s what they announced in a new post on their blog.
“OVR’s vision is to become the decentralized platform of the Spatial Web and the “home” of NFTs, a maximally interoperable ecosystem hosting all available content made possible by NFTs in metaverses,” the OVR blog post reads.
If you have an NFT in your digital portfolio, you have the option to import it directly into OVR Builder and anchor it in one of your OVRLands. You can then view it in augmented reality – in 2D or 3D – using a virtual reality tool.
This feature opens up an infinite horizon of new opportunities. Imagine for example the organization of a virtual art gallery where it is possible to come and contemplate NFTs of art. This one could even be held in the virtual representation of a known museum on OVRLand.
But that’s not all, imagine the possibility to move in the virtual world of OVR with your avatar, dressed with NFTs of a pair of shoes of such a brand, of a sweater of another brand, etc. You could for example join an event with other Crypto Punks or participate in a geolocated treasure hunt with your Axies.
In short, ownership of digital assets through NFTs is an extremely powerful tool that has been untapped until now. OVR’s technology seems to be the key to unlocking this field of new opportunities, upon which new projects will sprout in the future.
The interoperability of NFTs, and therefore of different metaverses, has opened up infinite application horizons where only our imagination is the limit.